WEBVTT

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The EU Green Deal

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recognizes that to achieve
climate neutrality by 2050,

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a substantial collective effort
will be required from every sector.

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Our strategy acknowledges
this interdependency.

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We therefore aim to re-invent
essentials for sustainable living,

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not only in a way that
aligns with our targets,

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but also that delivers
comparable benefits to our stakeholders.

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This is the systematic
change I was talking about –

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we all have our role to play on this journey.

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For transformative
change to occur in our society,

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collaboration,
technology, and innovation

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will be crucial.

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In 2023, OMV

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continued to form strategic
partnerships and alliances.

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For instance, we partnered with Interzero

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to build one of Europe’s
largest waste sorting plants.

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Once finalized, it will provide
circular and sustainable materials

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for chemical recycling using
our patented ReOil® technology.

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The feedstock produced

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will then be transformed into
a high-quality raw material certified

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according to the International
Sustainability & Carbon Certification (ISCC for short).

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Customers who utilize this feedstock
for sustainable plastic production

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will gain improved insights
into their product’s carbon footprint.

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To extend the benefits of our
patented technology to other stakeholders,

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we signed a mutually exclusive
collaboration agreement with Wood

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for its commercial
licensing on a global scale.

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The licensees will also benefit

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from full asset life cycle support.

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To reduce direct emissions
from our ongoing operations

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we are using renewable
energy from our solar parks.

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For instance, the PV plants
located at the Lobau tank farm

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and Schönkirchen together
generated around 20 gigawatt hours

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of renewable energy in 2023,

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which was used for our ongoing operations.

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We also signed several
power purchase agreements

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to secure renewable
energy for our operations.

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The clean wind energy obtained

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through a PPA with WEB Windenergie AG

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will be used to produce green
hydrogen at the Schwechat refinery.

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These are only a few examples
of the projects that have been implemented.

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Our efforts in 2023

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led to a 25 percent reduction

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in absolute Scope 1 and 2 emissions
and a 20 percent decrease

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in the carbon
intensity of our operations

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compared with 2019,
which is the base year.

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These projects, whose
individual CO2 savings seem modest,

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collectively make a significant impact.

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In 2023,

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we also invested substantially to
reduce our portfolio’s carbon footprint.

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For example,

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we formed a joint venture
called “deeep” with Wien Energie.

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Through this initiative, we aim to provide

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climate-neutral district
heating to the city of Vienna.

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In Romania, OMV Petrom and CE Oltenia

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joined forces to build four PV parks

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that will supply energy
to the grid from 2025 onward.

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Integrating climate change

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and the Just Transition
into our Group’s Human

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Rights Policy Statement
was the first essential step.

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We also prioritized
training for our employees

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to help them cultivate a mindset

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aligned with our journey to net zero

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and preparing them for future job roles

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emerging as a result of our strategy.

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In 2023,

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we spent more than 12 million
euros on training employees

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and I am proud to say

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that we have already achieved our 2030

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target of increasing the
average number of annual

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learning hours to at
least 30 hours per employee.

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This truly is a momentous occasion.

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In recent years,
our sustainability journey

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has shown consistent improvement.

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In the last two years alone,

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we addressed reporting gaps,

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achieving a remarkable 25 percent

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improvement in disclosed data points.

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This highlights our
commitment to transparent reporting

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and the integral role
of sustainability in our strategy.

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Our Sustainability Report
caters to diverse stakeholders,

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offering extensive information
beyond financial statements.

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The challenge ahead is to balance

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financial and non-financial reporting,

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ensuring the combined report
is not just an exercise but a tool

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for evaluating positive transformation

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and also to drive continuous improvement.

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Finally, the combined report

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will provide an excellent framework

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to balance our social
responsibility on the one hand,

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and maintain our focus on delivering
excellent financial performance on the other.