G1 Corporate Culture, Business Ethics, and Anti-Corruption and Anti-Bribery

Material Topic: G1 Business Conduct

Material Sub-topics: G1-1 Corporate culture, G1-1 Business ethics, G1-1 Protection of whistleblowers, and G1-3 Prevention and detection of corruption and bribery

Cultivating a corporate culture that prioritizes innovation, sustainability, integrity, transparency, and a supportive work environment, and compliance with anti-corruption and other legal requirements.

Relevant SDG:

SDG target:

16.5Substantially reduce corruption and bribery in all their forms.

Corporate Culture

[G1-1.9] Our corporate culture is rooted in our core values: “We Care,” “We’re Curious,” and “We Progress.” By considering the impact of everything we do, showing respect, speaking up, and acting responsibly toward each other, our customers, and the environment, we demonstrate our commitment to caring. Our curiosity is reflected in being inclusive, asking questions, sharing our knowledge, and having the courage to try new things. We progress by taking ownership, trusting, and empowering each other to make bold decisions to deliver safely and at speed. Our Values underpin our culture and signal what’s important. Building a corporate culture based on these Values will give us a competitive advantage, enable new and better ways of working, and lead us towards a successful, sustainable future.

We integrate our Values into everything we do, from the way we conduct our meetings to how we connect with others outside our teams, and incorporate external thinking across OMV. Our Values are also part of our HSSE and wellbeing programs. Through our regulations, actions, and resources, we strive to uphold a healthy corporate culture with a high level of integrity. We provide guidance to all employees on the expected behavior at OMV and in interactions with stakeholders. Acting ethically and with integrity is a fundamental aspect of OMV’s corporate culture and guides decision-making at all levels of the organization. We aim to base our daily decisions on our ethical standards, acknowledging that trust and integrity are essential assets for a company. [G1-1.7] To foster our corporate culture and evaluate the integration of our Values, we regularly engage with employees through various initiatives and feedback mechanisms, including the annual Pulse Check survey, training programs, and internal communication channels such as our intranet. This ensures that our Values are deeply ingrained and reflected in our daily activities and long-term strategic goals. This approach aligns with our transformation strategy, fostering an environment where innovative, ethical, and responsible behaviors thrive, ensuring that our Values are upheld and evolve to meet new challenges and opportunities, and supporting our mission of sustainable success.

Business Ethics and Anti-Corruption and Anti-Bribery

OMV is defined by the way our people behave. Conducting business sustainably and ethically is crucial for OMV in creating and protecting value in the long term, in building trusting partnerships, and in attracting customers and the best suppliers, investors, and employees. We strive to comply with the most stringent legal requirements in areas such as anti-corruption and tax law, and to be transparent and implement sound corporate governance to ensure ethical behavior. The principles of corporate governance are a key element for the sustainable growth of the business, enhancing long-term value for shareholders, and strengthening stakeholder confidenceRead more in our separate Corporate Governance Report

While the OMV Group is headquartered in Austria, a country with high standards of business ethics, we also operate in several countries in the Middle East, North Africa, Asia-Pacific, the Americas, and Europe that are defined as high risk by the Transparency International Corruption Perceptions Index. We strive to avoid the risks of bribery and corruption that are specific to our sector. We also highly value our reputation. Therefore, our main priority is ensuring uniform compliance with our business ethics standards wherever we operate.

[G1-1.7a] [G1-1.9] Compliance with ethical standards is a non-negotiable value that supersedes any business interest. Absolute commitment to this objective is embedded at all levels of the OMV Group, from top management to every employee. Our business partners are also expected to share the same understanding of and commitment to ethical standards. Every Company activity, from planning business strategy to daily operations, is assessed for compliance with ethical standards such as the Code of Conduct, the Code of Business Ethics, and the Ethics & Integrity Policy (see Specific Policies and Commitments).

[G1-1.10b] OMV is a signatory to the United Nations (UN) Global Compact, and we believe that sustainability starts with our value system and a principles-based approach to doing business. Our business partners are also expected to share the same understanding of and commitment to ethical standards. The Ethical Business Practices strategic focus area brings together our commitments and actions relating to the integrity of our employees and business partners. Establishing a culture of integrity is the basis for the further adoption of the UN Agenda for Sustainable Development, whether that is achieved by promoting local economic development through local procurement, or ensuring that our public policy engagement and work with suppliers is in line with OMV’s climate commitments.