Our ESG ratings
Working with ESG rating agencies is very important to OMV Petrom. This enables us to have an external assessment of our ESG performance and measure against industry best practice.
OMV Petrom SA has been included in Sustainalytics’ 2023 Top-Rated ESG Companies List.
OMV Petrom is ranked in the top 5% of the Oil & Gas Producers Industry in Sustainalytics’ ESG Risk Ratings as of November 2022, with a score of 22.5 (medium risk). OMV Petrom’s management of sustainability issues is rated as Strong and ranks first among Bucharest Stock Exchange listed companies.
OMV Petrom was awarded with Silver Supplier status, and scored 65 (out of 100) (Score date: December 2022).
Our company scored 61 (out of 100) in the 2022 S&P Global Corporate Sustainability Assessment (Score date: February 2023).
In 2022 our CDP score maintained its A- score
OMV Petrom score has been t C+ since 2020.
OMV Petrom is a signatory to the United Nations (UN) Global Compact since 2013, is fully committed to the UN Guiding Principles on Business and Human Rights and is an active contributor to the UN Sustainable Development Goals (SDGs). The information disclosed in this Report is correlated with the relevant SDGs to emphasize our contribution. Also, ESG commitments are implemented with and through our business relationships, including the commitment to respect human rights. The aim is to have 100% of our employees trained in human rights by 2030.
OMV Petrom acknowledges the Paris Climate Change Agreement’s goals as well as the EU climate targets for 2030 and believes that reducing global warming is one of the most crucial global goals. Furthermore, we support the World Bank’s “Zero Routine Flaring by 2030” initiative and, as a result, aim to eliminate routine flaring and venting in our operations by 2030 at the latest.
OMV Petrom is the first Romanian company to support the Task Force on Climate-related Financial Disclosures recommendations (TCFD). This voluntary participation demonstrates our commitment to increasing the visibility of our climate-related initiatives, as well as to evaluating, disclosing, and acting on climate-related risks and opportunities. In line with these recommendations, since 2021 we have improved our way of working and the disclosures related to governance, strategy, risk management, and metrics and targets. The TCFD Index is presented in an annex to this report.
We will continue to improve our performance and share our progress toward our goal of enhancing our performance on all relevant ESG topics.
Our company supports the Paris Climate Change Agreement and contributes to UN’s 2030 Agenda for Sustainable Development.