Code of Conduct
OMV’s Code of Conduct highlights its commitment to shifting from a linear to a circular economy in order to conserve natural resources and reduce waste. OMV recognizes the necessity of shifting from the traditional “take – make – waste” model to a circular one. OMV’s specific commitments related to waste management include ensuring that waste management practices do not pose harmful risks to the workforce, local communities, or the environment. OMV is committed to substituting hazardous substances with less hazardous alternatives where reasonably practicable, and designing processes to minimize the production and use of hazardous substances. Additionally, the Company is addressing plastic pollution by promoting the circular economy and gradually reducing the use of virgin non-renewable resources while increasing the recycled and renewable content in its products. These commitments are integral to OMV’s broader strategy to conduct business in an environmentally responsible manner and contribute to a sustainable economy. The CoC is an overarching policy aimed at managing the negative impacts resulting from improper waste management, use of primary fossil-based resources and environmental impacts resulting from competition for alternative feedstock, as well as the opportunities from transitioning from a linear to a circular economy which help preserve natural capital and minimize waste. This policy also underscores OMV’s commitment to progressively reducing the use of virgin non-renewable resources, increasing the recycled and renewable content in our products, and tackling plastic pollution through the promotion of a circular economy.
For the Code of Conduct, unless otherwise specified, the process for monitoring, the scope of the policy, involvement of senior-level management, reference to third-party standards (where relevant), interests of key stakeholders in setting the policy (where relevant), and how the policy is made available to potentially affected stakeholders are covered in E1 Climate Change.
Environmental Management Standard
Improper waste management can negatively impact the environment and nearby communities due to improper waste disposal from our operations or supply chain. To address this, we are committed to increasing the reuse of waste materials from operations, reducing waste leakages, and optimizing processes to minimize waste residue. Our waste management efforts are guided by OMV’s Environmental Management (EM) Standard, which mandates that our business must identify and use the least hazardous material options, minimize raw material use, and reduce waste generation. It ensures that waste management practices do not pose risks to the workforce, local communities, or the environment. The disposal of liquids to landfills and the open burning of solid and liquid materials is strictly prohibited. All waste must be processed or disposed of in licensed facilities or through reputable licensed contractors, who are regularly audited based on their risk profile. Additionally, OMV supports third parties in developing their waste management capabilities where local, regional, or national facilities are inadequate. OMV’s EM Standard further requires that environmental and social components be identified for the entire life cycle of facilities, including decommissioning and abandonment, so that any future adaptation measures can be identified and planned for. The needs of local communities, including indigenous peoples, are incorporated, and addressed throughout all phases of the project life cycle, including during decommissioning or abandonment. Each site is required to develop, implement, and maintain a comprehensive waste management plan, following the guidelines provided in the EM Standard, which includes adherence to applicable legislation, waste avoidance and minimization measures, and detailed procedures for waste collection, segregation, labeling, storage, and treatment. To monitor this process, an internal Environmental Management System (EMS) audit should be conducted annually, and a full environmental management audit carried out by an external auditor or OMV Environmental Advisor/Expert every three years for sites without ISO 14001 certification.
A waste management plan, as defined in the Environmental Management Standard, mandates the management and monitoring of waste contractors and facilities, applying a waste control hierarchy that prioritizes prevention followed by preparation for reuse, recycling, other recovery methods such as energy recovery, and controlled disposal. The standard also specifies that the waste hierarchy must be applied in waste control, emphasizing the prevention of waste as the most relevant measure, before recovery or treatment options. A dedicated waste management officer monitors waste data and legal compliance at the site level. The waste management officer must ensure that waste is only transferred to waste contractors that are certified for the type of waste they receive, among other things. Waste quantities, types, hazardous nature and method of disposal are determined and recorded by the contractor and reported to OMV.
This plan should align with country-specific waste management strategies where they exist. In the absence of local or national requirements, the plan must ensure compliance with applicable legislation and requirements by adhering to all relevant laws and regulations. It must also incorporate avoidance and minimization measures and implement strategies to prevent and reduce waste generation; focus on the identification, recording, and tracing of waste streams, providing detailed tracking until final recovery or disposal; and cover the collection, segregation, labeling, storage, and treatment of waste, ensuring proper handling and processing. Lastly, it must include the management and monitoring of waste contractors and facilities, ensuring that waste contractors are reputable and licensed, with regular audits conducted based on risk profiles.
For the EM Standard, unless otherwise specified, the scope of the policy, involvement of senior-level management, reference to third-party standards (where relevant), interests of key stakeholders in setting the policy (where relevant), and how the policy is made available to potentially affected stakeholders are covered in E1 Climate Change.
The Environmental Management Standard stipulates the application of best practices and contains guidance on the recycling of operational waste.
Application of Best Practices
International industry best practice is applied for the management and treatment of waste, including drilling waste. Where existing local, regional, or national waste management facilities are inadequate, OMV supports third parties in developing their capabilities. Following these practices enables OMV to manage the impact of improper waste management, which could have negative impacts on the environment and nearby communities.
Recycling of Operational Waste
Waste is recovered and recycled where possible, including during site closure and decommissioning. These guidelines enable OMV to increase the use of own operational waste materials, positively managing the associated impact. If recycling is not possible, waste is processed and/or disposed of only in licensed facilities or via reputable licensed contractors. Waste contractors are regularly audited. This ensures that waste leakages are reduced and that by way of process optimization, waste residue is minimized.
Enterprise-Wide Risk Management Standard
The Enterprise-Wide Risk Management (EWRM) standard addresses the uncertainties impacting OMV Group objectives related to environmental, social, or governance matters. These uncertainties are measured by the combination of the likelihood or frequency of an event and its consequences or magnitude. This process not only identifies potential threats to success (downside) but also highlights opportunities for benefit (upside), including those arising from the circular economy, which can drive innovation, emissions reduction, resource efficiency, and sustainable growth. It applies globally to all entities and fully consolidated subsidiaries of OMV Aktiengesellschaft, but excludes some Borealis subsidiaries such as mtm plastics GmbH, Ecoplast Kunststoffrecycling GmbH, DYM Solution Co. Ltd., and Etenförsörjning i Stenungsund AB. The standard is approved by the OMV Executive Board, and the most senior level accountable for its implementation is the SVP Finance, Tax, Treasury, and Risk Management. The EWRM standard is based on the international risk management standard ISO 31000. The EWRM standard is available on OMV’s Regulations Alignment Platform and is supplemented with training to ensure that all affected employees understand our general guidelines and know how to apply them in practice.
Renewables Sustainability Management Requirements
The OMV Renewables Sustainability Management Requirements refer to an internal procedure that defines general rules and responsibilities regarding the requirements for sustainable management of renewables, such as the process of checking certifications of suppliers. This policy is aimed at managing the negative material impacts that are associated with land use changes, nature and forest degradation, and potential human rights violations that may arise as a result of competition for sustainable inputs, by ensuring correctness and traceability of sustainability certifications of suppliers of renewable biobased inputs. It is applicable to all biobased renewable components, intermediates, Renewable Fuels of Non-Biological Origin (RNFBO) used as biofuel or intermediates and biofuels for the transport sector. Implementation of the OMV Renewables Management Requirements is under the responsibility of the SVP Value Chain Optimization, who also has shared formal responsibility for the material topic Resource Use and Circular Economy. Furthermore, OMV is preparing process instructions for its relevant assets that detail the specific handling of sustainable secondary or renewable inputs. A digital Renewables Tracing Platform has been implemented to manage OMV’s renewable balances and flows of Proofs of Sustainability (PoS) and Sustainability Declarations (SDs) from suppliers to customers. This platform is being gradually rolled out across products and locations.
Impact of the Policies on Resource Use and Circular Economy
OMV believes that adopting a circular economy will greatly reduce its environmental footprint and GHG emissions. A circular economy decouples economic growth from resource depletion by ensuring that materials, resources, and products remain in use for as long as possible and at their highest value, thereby minimizing their leakage into the environment, especially into oceans and landfills. Transitioning from a linear “take – make – waste” model to a circular “reduce – reuse – recycle” model will also help mitigate global warming. By effectively utilizing valuable resources, we can recover, reuse, and repurpose by-products or waste into new materials and products. This approach has the potential to significantly reduce GHG emissions throughout product value chains. In addition to increasing the use of secondary resources, such as recycling of plastic waste to make new materials and products, OMV also sees chemicals, polymers, and fuels made from renewable inputs as playing a key role in the circular economy. The use of renewable inputs lowers demand for primary fossil-based inputs and considerably decreases carbon footprints.
For monomers and polymers made from renewable sources, OMV focuses on utilizing waste biomass, such as residual forestry matter that is not in competition with the food and feed chain and thus does not require the use of additional natural resources such as land or water. If then recycled, such second-generation bioplastics can play a vital role in a sustainable, circular economy and reduce greenhouse gas emissions on two fronts, cutting emissions in the input and in the end-of-life phase. Furthermore, OMV plans to become a leading producer of renewable fuels, focusing on renewable diesel and SAF (sustainable aviation fuel).
The creation of an effective circular economy also has wider societal implications. For instance, it may lower the financial burden of ineffective waste management systems and pollution management, while generating new business opportunities and employment at various stages along the value chain. If implemented effectively, a circular economy can contribute to improved living and working conditions, and an overall cleaner environment. By 2030, OMV aims to sell up to 1,400 kt of sustainable (including renewable and recycled) polymers and chemicals per year, i.e., polyolefin products or other chemicals derived from plastic waste (either through a mechanical or chemical recycling process) or from renewable inputs. In parallel, the use of fossil fuels will decrease, as the aim is to reduce oil and gas production levels to around 350 kboe/d and reduce crude distillation throughput by 2.5 mn t by 2030. These primary fossil-based inputs would ordinarily also be used to make polymers; instead, more polymers will be based on recycled waste or renewable resources such as biobased feedstock. In 2024, OMV achieved sales of 150.92 kt of sustainable (including recycled and renewable) polymers and other chemicals.
Processes and Mechanisms
Certification
The use of reputable certification schemes provides concrete proof for claims of origin for renewable and secondary inputs, boosting consumer trust in OMV’s products. OMV only considers materials as being sustainable if they are certified by a relevant sustainability certification scheme, as detailed in OMV’s internal procedure on “Renewables Sustainability Management Requirements.” OMV uses the following certification schemes for its sustainable (renewable and recycled) inflows and products:
The Borealis recycling businesses mtm plastics, Ecoplast, Rialti, and Integra are certified according to the Europe-wide EuCertPlast/RecyClass program for companies that recycle post-consumer plastic waste, which provides a system for reliable traceability of the origin of plastic waste.
The ReOil® pilot plant and the ReOil® plant (2000) are both certified according to ISCC PLUS. ISCC PLUS is a sustainability certification that is well-recognized by all stakeholders in recycled and renewable biobased materials, providing traceability along the supply chain by establishing a chain of custody and verifying that companies meet environmental and social standards. Compliance with the certification means that for each ton of sustainable input fed into a plant and replacing fossil fuels, a certain proportion of the output can be classified as sustainable by using the mass balance approach. Applying the mass balance allocation model means that the primary fossil-based and renewable or recycled materials are not physically segregated in the production processes throughout the entire supply chain, but that they are separated in bookkeeping to provide a verifiable basis for tracking the amount and sustainability characteristics of recycled and/or renewable content in the value chain. This certification system ensures the traceability of the renewable or recycled sustainably produced feedstock from its point of origin through the entire chain of custody.
Applying the mass balance approach enables OMV to provide a verifiable basis for tracking the amount of its renewable and chemically recycled raw materials in the value chain. Providing more products that are certified by ISCC PLUS is crucial for the transition to a more circular economy. OMV’s cracker in Burghausen was one of the first 20 worldwide to be ISCC PLUS certified for the production of renewable benzene, butadiene, and isobutylene. Additionally, the production of ethylene and propylene at OMV’s crackers in Burghausen and Schwechat is also ISCC PLUS certified. The Borealis Bornewables™ portfolio, Borcycle™ C, and Borvida™ are also certified according to ISCC PLUS by applying the mass balance approach.
All biofuels purchased by OMV in 2024 and used for blending met the requirements of the EU’s Renewable Energy Directive (EU) 2018/2001 (REDII). The ISCC EU certification allows for the verification of compliance with the legal requirements for sustainability and greenhouse gas (GHG) emissions-savings criteria for sustainable fuels, as well as those governing the production of electricity, heating, and cooling from biomass, as outlined in the updated Renewable Energy Directive (REDII) for all European Union Member States. Since 2013, the ISCC EU certificate issued for OMV Downstream GmbH has been renewed on an annual basis. OMV Petrom, OMV Hungary, OMV Czech Republic, OMV Germany, and OMV Slovakia are also certified according to the ISCC EU standard. Since 2024, OMV has also been an ISCC EU certified producer of biocomponents for fuels and SAF at its Schwechat refinery.
Technology
Renewable Inputs to Fuels
More details on OMV’s technological advancements in the area of low- and zero-carbon products using renewable inputs can be found in E1 Climate Change.
Complementarity of Recycling Technologies
OMV is fully committed to broadening the range of applications where recycled plastic waste can be used as an input source. Currently, mechanical recycling is the primary method for recycling post-consumer plastics, involving shredding and remelting. As chemical recycling targets hard-to-recycle plastics, the two technologies are complementary. Additionally, chemical recycling, particularly through pyrolysis, can produce higher-quality plastics, equivalent to virgin materials. OMV’s ambitions in the area of mechanical recycling lie with its subsidiary Borealis, which continues to work with partners to develop new technologies for mechanical recycling, with the objective of delivering products with near-virgin quality where possible, and with the smallest carbon footprint.
Chemical recycling can extract value from residual waste streams from mechanical recycling and mixed plastic waste streams, which would otherwise be sent to landfill or incinerated. This process involves changing the chemical composition of the plastic. The resulting pyrolysis oil is then further processed and refined to create a base chemical that replaces fossil hydrocarbons as chemical feedstock for the production of new plastic. Since it is practically comparable to virgin plastics, it can also serve a more diverse field of applications compared to mechanically recycled plastic.
Mechanical Recycling
OMV is committed to further innovating in advanced mechanical recycling technologies, with the goal of improving recyclate quality such that it can be used in more demanding applications like contact sensitive packaging, or increasing the recyclate content in products.
Chemical Recycling
ReOil®
Plastic is an excellent heat isolator with poor heat transfer properties compared to glass or metal. These properties, which make plastic desirable in everyday life, also make it difficult to break down. OMV’s proprietary ReOil® technology is based on pyrolysis, a well-known refinery process during which thermoplastics are first melted and then cracked at a temperature of around 400–450°C. This means that long-chain hydrocarbons are cracked into shorter-chain light hydrocarbons. One of the inherent challenges in pyrolysis stems from the fact that, compared with glass or metal, plastics are notoriously difficult to melt, and once melted they are highly viscous, which impairs the heat transfer necessary for pyrolysis. The ReOil® technology is unique compared to that of competitors because of the use of an innovative heat transfer technology, which allows the viscosity of the molten plastic to be reduced and thus heat transfer to be improved. As a result, the ReOil® process is scalable for industrial use. Thanks to the integration into OMV’s refinery in Schwechat, ReOil® also achieves higher yields than other non-integrated chemical recycling technologies.
Feedstock Selection
The ReOil® facility can process different forms of plastic waste, ranging from household waste to waste from commercial and industrial sources. The main feedstocks are polyethylene (e.g., films), polypropylene (e.g., food packaging and car parts), and polystyrene (e.g., packaging and insulation materials). Currently, the feedstock is sourced almost exclusively from Austrian waste sorting facilities. With regard to the ambition of developing an industrial-scale ReOil® plant and the resulting need for more feedstock, the geographical scope for feedstock sourcing will be expanded and countries neighboring Austria are being explored. The scalability of the ReOil® technology and its integration into the refinery will facilitate the achievement of exponential economies of scale and optimize resource and energy balance.
OMV and Borealis have entered into long-term feedstock supply agreements for their recycling facilities with TOMRA Feedstock, a subsidiary of leading sorting technology producer TOMRA. These agreements ensure a consistent supply of sustainable and high-quality raw materials for OMV’s recycling operations. OMV will process feedstock supplied from TOMRA Feedstock plants in its ReOil® plants in Austria, while Borealis will process feedstock produced by TOMRA at its mechanical recycling operations in Europe. The feedstock will be produced from mixed post-consumer plastic material that would otherwise be lost to landfill and incineration at a first-of-its-kind sorting facility currently being developed by TOMRA in Germany, allowing OMV to substitute primary fossil-based inputs with a steady supply of high-quality input from plastic waste.