Reporting on Materiality
At OMV Petrom, a full consultation process with both our external and internal stakeholders is performed every 3 years in order to identify new material topics for the Sustainability Report and to determine our new sustainability priorities. Since our last full process in 2020, we have continually monitored and updated our priorities. More information about the full-scale process of consultation and analysis performed is included in our Sustainability Report 2020 and our website.
For the 2022 reporting year, a simplified internal consultation was performed. An update of the materiality analysis was performed following a series of interviews with top management representatives in our effort to monitor internal and external factors that can influence our sustainability priorities. The update was on the business impact, also aligned with input data from desktop research of the latest sector and non-sector business impact materiality, and literature review. For this purpose, management representatives were prioritized for the interviews based on the following criteria: whether they play a major role or they actively contribute to defining the Sustainability Framework within the 2030 Business Strategy or the monitoring of its outcomes. As a result, the following key functions at OMV Petrom were identified as key internal stakeholders for consultation in our materiality revision process and financial year 2022 sustainability reporting: CEO, CFO, E&P, R&M, G&P, People and Culture Department, HSSE Department, and Investors Relations Department.
Each OMV Petrom top level manager answered a set of questions related to the materiality of topics, from a financial risk and opportunity perspective of the business impact, on the short, medium, or long-term. The interviews, conducted in October 2022, focused on the internal reevaluation of financial materiality of the material topics, and the results of the consultation and analysis were presented to the OMV Petrom Executive Board for acknowledgment.
The sustainability topics contain a series of sub-topics to facilitate the reporting process and harmonization with the Sustainability Framework under the 2030 Strategy. Material topic categories of major importance for stakeholders and OMV Petrom are presented in the revised table below, and the performance on each topic and sub-topic is disclosed within this Report. The OMV Petrom EB reviewed and acknowledged the materiality list.
1. Climate Change and Energy Transition
2. Health, Safety and Security
4. Business Principles and Economic Impacts
6. Customer and Product Responsibility
7. Community Relations and Human Rights
8. Supply Chain
9. Circular economy and Innovation
|Sustainability Framework||Material topic categories||Sub-topics|
Low and zero carbon