OMV Petrom publishes sustainability report for 2020, says climate change is a ‘strategic priority’
OMV Petrom, the largest energy company in Southeastern Europe, published its Sustainability Report for 2020. This showcases the company’s actions to reach the goals set forth by the Sustainability Strategy for the period 2019 – 2025, including the company’s contribution to the energy transition and the management of the COVID-19 pandemic.
Christina Verchere, CEO OMV Petrom: “The unprecedented challenges brought by the pandemic have tested our ability, as individuals or companies, to adapt, innovate, and above all, show solidarity. At the same time, initiatives for a cleaner environment, a sustainable economy and equitable society have intensified. In 2020, we kept our promise to reliably provide energy, while making the safety, health and well-being of our employees and customers a priority. We showed our commitment to the energy transition, by continuing our investments to lower our carbon footprint and provide our customers with lower-carbon solutions. And last but not least, we continued supporting social initiatives that drive positive, long-lasting change in areas such as health, education and environment.”
The OMV Petrom Sustainability Report for 2020 presents the company’s non-financial information in the following main areas of the sustainability strategy: health, safety, security and resilience, environment protection; carbon efficiency; business principles and social responsibility; employees; innovation.
Climate change is a strategic priority for OMV Petrom. Constant efforts to optimize processes and to improve energy efficiency have led to a 26% decrease in carbon intensity of operations in 2020 vs. 2010, with the company thus approaching its strategic target of reducing carbon intensity by 27% by 2025. Projects for producing electricity from natural gas or those based on cogeneration (electricity and heat) also contributed to this result.
The report increases the level of transparency on climate change risks and opportunities, according to the recommendations issued by the Task Force on Climate-related Financial Disclosures (TCFD). In 2020, OMV Petrom became the first company in Romania to announce its support for TCFD recommendations.
“OMV Petrom constantly assesses the challenges faced by the communities in which it operates, from a social and environmental point of view, and invests in their long-term development. In 2020, the company funded more than 60 projects, in all regions where we have production activities, with approximately EUR 6 mn. The list of projects includes the largest private forestation campaign in Romania, with the aim of planting 1,500,000 seedlings by 2022, but also initiatives to support the healthcare system in the fight against the COVID-19 pandemic. We supported 17 front-line medical institutions, directly or through the Red Cross, by offering medical equipment, masks, disinfectants, testing equipment and tests for COVID-19,” the report shows.