Sustainability Framework
For OMV Petrom, sustainability means operating responsibly and efficiently while creating long-term value for the company and its stakeholders.
Our approach is structured around ESG principles, underpinned by Strategy 2030 targets and transparent communication through the annual sustainability reporting. Progress in strategy execution and meeting our targets is reported through the Annual Report in the Sustainability Statement section. Read our latest Annual Report here.
Our sustainability efforts concentrate on four focus areas:
As the largest integrated energy producer in the SEE region, we recognize climate change as one of the most important global challenges today. Under our Strategy 2030, around 25% of our planned investments between 2022-2030 are directed towards low- and zero carbon projects, including renewable power generation, alternative mobility and biofuels. Details of these targets, the implementation plan and progress are available in our Sustainability Statement within our Annual Report.
Targets 2030:
- Carbon emissions of our operations (Scope 1-2) lower by 30% (vs. 2019)
- Achieve 0.2% methane intensity
- Carbon intensity of energy supply (Scope 1-3) lower by 10% (vs. 2019)
Supported United Nations Sustainable Development Goals (SDGs):
Health, Safety, Security and Environment
We adhere to the highest safety standards in order to provide safe workplaces for our employees and contractors and to achieve our own vision of “Zero Harm – No Losses”. For us, security means establishing and maintaining a sustainable protection of people, assets and reputation against intentional malicious threats and continuously improve organizational preparedness to adequately respond to and recover from serious incidents. We aim at minimizing our environmental impact throughout the entire lifecycle of operations. We are committed to pollution prevention, reduction of emissions, and efficient use of energy and natural resources (waste management, water management, biodiversity).
Business principles and Economic Impacts
The OMV Petrom Group Code of Conduct serves as a central guideline applicable to all our employees, business partners, and representatives of OMV Petrom Group. The fundamental values established in our Code of Conduct are guided by recognized best practices and international standards such as the goals set forth by the Paris Agreement, the UN Sustainable Development Goals (SDGs), the International Labour Organization (ILO), the UN Guiding Principles on Business and Human Rights and by adherence to the United Nations (UN) Global Compact.
Our Code of Business Ethics sets forth explicit rules and procedures to ensure ethical behaviour among employees, with the objective of establishing binding group-wide rules for ethically correct behaviour.
Supply Chain
OMV Petrom applies sustainable procurement principles by considering relevant environmental, social and economic criteria in sourcing and logistics decisions. We work with partners, contractors and suppliers to support safe, compliant and responsible supply chain practices.
Targets 2030:
- Stabilize Total Recordable Injury Rate (TRIR) at below 1.0 (per 1 mn hours worked)
- Achieve Zero Work –Related Fatalities
- Maintain leading position in Process Safety Event Rate
- All new suppliers screened against mandatory ESG criteria during supplier pre-qualification prior sourcing projects (baseline 2022)
- Yearly spend with local suppliers to be at least 85% out of total Procurement spend
Progress in strategy execution and meeting our targets is reported through the Annual Report in the Sustainability Statement section. Read our latest Annual Report here.
Supported United Nations Sustainable Development Goals (SDGs):
OMV Petrom contributes to Romania’s economy and communities as an investor, employer, taxpayer and supporter of selected social initiatives.
Our personnel policy centers on long-term employment, flexible working conditions, well-paid jobs and development opportunities, that raise engagement to the mutual benefit between staff and the organization. The projects and programs sustaining the company’s developments are conceived and executed based on participative management and in constant alignment with employees’ representatives on aspects that may affect employee’s interests.
We are dedicated to working closely with local communities to mitigate or prevent direct or indirect impacts of the company’s operations, while maintaining our social license to operate. We engage directly with various stakeholders from the communities where we operate to ensure their voices and concerns are heard and addressed.
Target 2030:
- Increase share of women at management level at 35%
- Increase average number of annual learning hours to a minimum of 30 hours/employee
- Measure and maintain the level of engagement of our employees
- Train all OMV Petrom Group employees in human rights
- Maintain >80% local communities covered by social investments every year
Supported United Nations Sustainable Development Goals (SDGs):
We are committed to exploring the use of innovative technology, research & pilot projects in new energy solutions, such as low carbon hydrogen, photovoltaic assets, e-mobility, gas mobility. Furthermore, we support the use of waste feedstock to produce biofuels. We leverage digitalization to run programs to reduce carbon footprint, enhance HSSE capabilities and upskill employees.
Targets 2030:
- EUR 2.7 bn by 2030 investments for low and zero carbon business (such as: biofuels, CC(U)S, low carbon hydrogen, renewable assets)
- 300 kt/year of biofuels production from sustainable feedstock until 2030
- Operate >2.5 GW of renewable power capacity, including through partnerships
- 5,000 charging points for electric vehicles
- Run programs to reduce carbon footprint, enhance HSSE capabilities and resource efficiency and upskill employees
Progress in strategy execution and meeting our targets is reported through the Annual Report in the Sustainability Statement section. Read our latest Annual Report here.