GlobalData offers a comprehensive analysis of OMV, providing key insights into its Environmental, Social, and Governance(ESG) factors. By closely monitoring and aggregating mentions of net zero and associated ESG keywords, GlobalData delivers valuable information on OMV‘s ESG performance. GlobalData’s company profile on OMV offers a 360-degree view of the company, SWOT analysis, key financials, and business strategy including insights on ESG implementation among other information. Buy the report here.
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OMV, an Austrian oil and gas company, has set a net-zero target for its operations by 2050. The company has also set specific goals related to scope 1, scope 2, and scope 3 emissions. As of 2020, OMV's total GHG emissions from all activities amounted to an estimated 2.16 Gt CO2 equivalent. OMV’s latest filings mentioned the keywords 'Emissions' and ‘Carbon’ most number of times in relation to 'Net Zero'.
In 2022, company has shown decline of -23% for reduced scope 1 and scope 2 emissions compared to 2019 and aimed ≥30% and ≥60% targets for 2030 and 2040 respectively. Moreover, for scope 3 the decline was -8% and aimed to target ≥20% & ≥50% for 2030 and 2040 respectively.
The company has disclosed its environmental data related to water usage, with 1.9% of produced water and flowback discharged and 93.7% being injected. Moreover, In 2022, the global CO2 emissions were 37.5 Gt and OMV has contributed 0.4% of overall global emissions.
In conclusion, OMV has set a net-zero target for its operations by 2050 and has taken steps to reduce its emissions, including investing in low-carbon alternatives such as R&D, equipment, products, and services. In order to achieve those targets, a significant amount of CAPEX will be allocated to low-carbon business projects and activities till 2030.
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