As we update every three years our materiality analysis, in the second part of 2020, we implemented an analysis and consultation process to determine our new sustainability priorities. Thus, we started with identifying potentially relevant topics by performing a thorough desk analysis based on industry trends, on Company’s annual sustainability and financial reports, on specific sustainability standards and frameworks (Global Reporting Initiative, Sustainability Accounting Standards Board, IPECA), peers’ sustainability reports and other relevant sources (e.g., investors requirements, rating agencies questionnaires). For each topic, we identified the potential impacts the Company can have on society and the environment and the impacts the sustainability topics could have on the Company’s activities. From this analysis, we obtained a number of 27 potentially relevant categories of topics which were afterward streamed down to a list of 11 relevant sustainability topic categories, containing 56 topics that are relevant for OMV Petrom.
To determine the material sustainability topic category, we ran a consultation process that involved more than 600 internal and external stakeholders. All of the identified categories were considered material. The sustainability topics were then grouped into 9 categories, containing 27 topics to facilitate the reporting process and harmonization with the material topics identified at the OMV Group level and included in the 2020 OMV Petrom Materiality Matrix approved by the Executive Board at the end of the year.
|Material topic categories resulted Underlying topics|
|Health, Safety and Security||► Health, Safety and Security engagement |
► Occupational Health and Safety for employees
► Asset integrity and process safety
|Community Relations and Human Rights||► Environmental, Health and Well-being impact (pollution, odour, noise, water use, land use, compensation, decommissioning, etc.)|
► Community development investments
|Customer and Product Responsibility||► Extension to new energy solutions|
► Customer satisfaction management
► Existence of low carbon products
► Reducing the risks for the Health and Safety of consumers and the environment.
|Environment||► Spills management|
► Waste management
► Water management
► Environmental compliance
|Business Principles and Economic Impacts||► Business ethics, anti-corruption and anti-competitive behaviour|
► Indirect economic impacts through local economic development
|Circular Economy and Innovation||► Research and development activities|
► Technology development for decarbonisation, including circular economy technologies
► Reduction of fossil resources and substitution through renewable or recycled materials in production
► Development of cutting-edge technological competencies and Digitization
|Climate Change and Energy Transition||► Use of renewable energy|
► Reduction of flaring, venting and fugitive emissions
► Climate change (governance, strategy, objectives, risks and opportunities)
► Efficient use of energy in operations
|Employees||► Skills development and training|
► Talent attraction and retention
► Diversity, inclusion and non-discrimination
|Supply Chain||► Business ethics of suppliers|
Compared to the previous Materiality Matrix, two new topics resulted as material in 2020, as follows: “Climate Change and Energy Transition” and “Circular Economy.” “Health, Safety, and Security” resulted as being the most material category, followed by “Environment” and “Climate Change and Energy Transition”. The “Local Communities” topic, which was ranked first place in the 2017 Materiality Matrix, received in 2020 a lower scoring, being ranked fourth in importance, and grouped with “Human Rights”, in a new category “Community Relations and Human Rights.”
Yearly, we will continue to monitor internal and external factors that can influence our sustainability priorities and update our sustainability matrix results if necessary.