Omv

OMV, an Austrian Crude Petroleum Extraction company, has committed to several climate action targets.

For 2024, OMV reported Scope 1 emissions of 9,778,526,000 kg CO2e, Scope 2 emissions of 991,275,000 kg CO2e (market-based), and Scope 3 emissions of 145,906,773,000 kg CO2e. The total Scope 1 and 2 market-based emissions for 2024 were 10,769,800,000 kg CO2e.

Looking back, in 2023, their Scope 1 emissions were 9,307,079,000 kg CO2e, Scope 2 market-based emissions were 990,084,000 kg CO2e, and Scope 3 emissions totalled 120,512,791,000 kg CO2e. The combined Scope 1 and 2 market-based emissions for 2023 were 10,297,163,000 kg CO2e.

OMV aims to achieve net-zero GHG emissions across all scopes (Scope 1, 2, and 3) by 2050 or sooner.

Near-term reduction targets include:

• A 30% absolute reduction in Scope 1 and 2 emissions by 2030, compared to a 2019 baseline.
• A 20% absolute reduction in Scope 3 emissions by 2030, also against a 2019 baseline.
• A 30% reduction in the carbon intensity of its operations (Scope 1) by 2025, compared to 2010.
• A 20% reduction in the carbon intensity of its energy supply (Scope 2) by 2030, compared to 2019.
• A 20% reduction in the carbon intensity of its product portfolio (Scope 3) by 2030, with a 2019 baseline.

Long-term goals include:

• An absolute reduction of 60% in Scope 1 and 2 emissions by 2040, compared to 2019.
• An absolute reduction of 50% in Scope 3 emissions by 2040, compared to 2019.
• Reducing the carbon intensity of energy supply by 50% by 2040, compared to 2019.

OMV has also endorsed the World Bank initiative 'Zero routine flaring by 2030' for Scope 1 and Scope 2 emissions. Additionally, OMV aims to establish Carbon Capture and Storage (CCS) capacities of approximately 5 million tonnes per year by 2030 to neutralise emissions.