Sustainability Framework
For us, sustainability means operating responsibly, efficiently and innovatively, with a strong focus on long-term value creation for both the company and its stakeholders.
Our activity is guided by Environmental, Social, and Governance (ESG) principles and we integrate ethical practices, community support and environmental care into our operations. Through our Strategy 2030, we are committed to transitioning to a low-carbon future, embedding sustainability into our core business strategy and contributing to the UN Sustainable Development Goals with clear targets and actions aimed at achieving net-zero operations by 2050.
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 and we support the goals set forth by the Paris Climate Change Agreement. By 2050, OMV Petrom operations will be carbon neutral, contributing to Romania’s decarbonization targets. A greener and more diversified portfolio will be reached by investing in biofuels, alternative mobility, renewable power generation and new technologies.
Targets 2030:
- We are committed to achieve Net Zero operations by 2050
- By 2030 we will reduce the carbon emissions of our operations by ~30% , gas will make up 70% of our hydrocarbon production and ~35% of our capex will shift to low and zero carbon business
- Achieve less than 0.2% methane intensity
- Phase out existing and no new projects with routine flaring and venting
- ~ 20% reduction in Scope 1-3 carbon emissions
- EU Taxonomy eligible CAPEX to reach 35%
- Lower and zero carbon energy for customers, to account for ~60% in total products sold in 2030
Supported United Nations Sustainable Development Goals (SDGs):
We will achieve our business and climate ambitions by prioritizing the health and safety of our employees, customers and partners, focusing on resource efficiency and environmental protection, and acting with integrity and transparency towards all our stakeholders.
Health, Safety, Security and Environment
Our vision is to promote health as an essential value, protected through individual responsibility, but powered by OMV Petrom as a responsible employer. We comply with the national legislation and 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 acting for pollution prevention, reduction of emissions, and efficient use of energy and natural resources (waste management, water management, biodiversity).
Business principles and Economic Impacts
Maintaining ethical behavior is crucial for building a positive reputation and securing and preserving the trust of our business partners, clients and stakeholders.
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 behavior among employees, with the objective of establishing binding group-wide rules for ethically correct behavior.
Supply Chain
Sustainable procurement at OMV Petrom means being mindful of the environmental, social and economic implications of the goods and services the Company intends to purchase. We aim to foster innovation, maximize value contribution and enable supply chain growth. We achieve this by applying our sourcing and logistics expertise to ensure that the highest-quality materials and services are provided throughout our supply chain. This involves working closely with our partners, contractors, and suppliers. It is of paramount importance to our organization to comply fully with all applicable legal requirements, as well as with our internal safety, environmental protection, and human rights standards when managing our supply chain.
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
Supported United Nations Sustainable Development Goals (SDGs):
OMV Petrom aims to become a regional energy leader in innovation and digitalization. Innovation represents a key pillar, contributing to more agile and efficient operations, minimizing environmental impact, investing in new technologies and providing cost-efficient solutions to our customers and society. 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 3.7 bn by 2030 investments for low and zero carbon business (such as: biofuels, CC(U)S, low carbon hydrogen, photovoltaic assets)
- 300 kt/year of biofuels from sustainable feedstock until 2030
- Operate ~2.5 GW of renewable power capacity, including through partnerships
- 5000 charging points for alternative fuelled vehicles
- Run programs to reduce carbon footprint, enhance HSSE capabilities and resource efficiency and upskill employees
Supported United Nations Sustainable Development Goals (SDGs):
We are part of the Romanian social and economic fabric, as a major investor, employer and contributor to the state budget and also through our involvement in social causes that are relevant for the country.
Our aim is to build and retain a talented, diverse and engaged team to support the company’s transition to a low-carbon business and its regional growth ambitions. 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.
Furthermore, our commitment to transitioning to a lower carbon future is intertwined with a dedication 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