Photo: Courtesy of OMV

OMV reviews associations memberships for net-zero by 2050

Vienna-based international oil and gas major OMV reviews its industry associations memberships to see whether they are aligned with the net-zero by 2050 goal.

OMV reviews associations memberships for net-zero by 2050 goal
Courtesy of OMV

The company’s ambition is to achieve net-zero ghg emissions in operations (Scope 1 and Scope 2) by 2050. It also endorses the World Bank initiative ‘Zero routine flaring by 2030‘ to end the routine flaring and venting of associated gas during oil production by 2030.

As part of the commitment to this goal, OMV plans to report not only on its own actions on climate change but also on the position of the industry associations of which OMV is a member.

A review process was established in early 2020 to ensure that the main associations of which OMV is a member also support the Paris Agreement. In 2021, 16 key industry association memberships have been reviewed. OMV is continuously monitoring this issue and will report on it annually.

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The latest report describes 16 associations that were selected for their relevance to OMV’s business and on the basis that they are actively involved in energy policy discussions. These associations are concentrated in OMV’s core markets of Austria, Germany, and Romania, as well as Australasia.

OMV looked at whether the associations supported other key policies besides the Paris Agreement, such as EU climate targets and the World Bank’s “Zero routine flaring by 2030” initiative (relevant for only three of the associations only: APPEA, IOGP, and IPIECA).

Of the 16 associations analysed, OMV found that 13 were fully aligned, three were partially aligned, and none were not aligned.

In cases of misalignment, OMV will first advocate for changes in the association’s position. If OMV’s position and an association’s position continue to not align, OMV will reassess its membership. If OMV is not able to influence the association to adopt a more aligned position, it will consider ending the participation or membership.

“OMV’s strategic development towards chemicals and our climate targets are a clear commitment to the Paris Agreement and so all the relevant associations of which we are a member should be committed to as well,” said Rainer Seele, chairman of the executive board and CEO of OMV.