Engaging with our stakeholders
Our operations and products have a direct and indirect impact on a series of stakeholders.
We are committed to engaging with our entire range of stakeholders through mutual respect, transparency and open dialogue.
We continually focus our efforts on an active dialogue with all our stakeholders to establish win-win relationships. As such, our activities include:
- social assessments for each project envisioned
- professional support jointly with professional associations in the energy and oil field to state institutions, ministries, and energy agencies on climate change and environmental issues, harmonize legislation with EU requirements and promote sustainable principles in line with the SDGs.
- dialogue and support to local communities where we operate.
- frequent engagement with investors on ESG issues via one-to-one conversations, participations at external events and group meetings.
- active participation at forums, conferences with key stakeholders, expert committees, and discussions, working groups, and organizing common projects discussions (partnerships).
- constant engagement with our employees. In 2021, over 35 virtual meetings between Executive Board Members team and employees were organized.
Stakeholder identification and prioritization
- Considering the importance of responding adequately to our stakeholders’ needs, at the end of 2020, we revised the process to identify and prioritize our stakeholders and continued our engagement during 2021. Thus, we have involved in this process representatives from all our business units to classify our stakeholders into categories and sub-categories and prioritize them.
- We aim to continue building on our Stakeholder identification and prioritization process.
Dialogue with shareholders
OMV Petrom management is aware of its fundamental duty to represent and promote shareholder interests and recognizes its accountability for the Company’s performance and activities.
- During 2021, the Company’s top management and the Investor Relations (IR) team maintained their active presence on the local and foreign capital markets, by attending conferences and organizing calls for analysts and investors.
- In 2021, we attended a series of conferences and we virtually met investment funds, to regularly update investors and analysts on the quarterly operational, financial performance and strategy execution and plans.
- During 2021, the number of interactions with a focus on ESG topics increased.
Dialogue with Trade Unions
We permanently value our Employer-Trade Union relationship, essential in maintaining the Company’s social equilibrium.
- In 2021, we continued our effort to work constructively with employee representatives to achieve mutually satisfactory solutions and communicate to our employees all aspects of collective bargaining agreements by our internal network and direct mailing.
- In 2021, we continued our dialogue with Trade Unions to find common approaches to the new challenges that the business environment and employees are facing, to inform and consult with them in the decision process.
|Stakeholder group||Examples of engagement|
|Suppliers & Contractors|
|Government / Central Authorities|
|Associations / Networks|
|Capital market participants|
Examples of engagement
Education, science and research organizations
NGOs / NPOs
Competitors & Peers
Joint Venture & other Business Partners