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
Vienna, May 20 - Neftegaz.RU. The company’s ambition is to achieve net-zero ghg emissions in operations 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.
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.
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.
Of the 16 associations analysed, OMV found that 13 were fully aligned, 3 were partially aligned, and none were not aligned.
In cases of misalignment, OMV will 1st 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