Sustainability Report 2020

Sustainability governance

In the process of developing and implementing the Sustainability Strategy, the most important players in sustainability are the representatives-functional experts from across the business, as well as key stream leads from corporate functions, acting as topic owners for strategic sustainability matters.

According to internal regulations, the accountability for the OMV Petrom Sustainability Strategy and targets lies with the Executive Board. For the implementation of the OMV Petrom Sustainability Strategy 2025, responsible persons were nominated to ensure the realization of all projects and initiatives corresponding to the KPIs established within the Strategy. OMV Petrom’s experts in sustainability issues constantly monitor the progress on the implementation of the planned social and environmental topics, having in their tasks the sustainability reporting to rating agencies, investors’ reviews quarterly reporting to line managers.

 

Each Department’s expert reports on the relevant ESG issues, including climate change, directly to their line managers, who further report to the Executive Board members. Their tasks include reporting on the progress of the implementation of sustainability strategy targets, presenting important events related to the material topics, submitting for approval the sustainability initiatives and related reports.

 

At the corporate level, the Sustainability department acts as a coordination function for corporate sustainability projects and is responsible for steering or providing advice and reporting on sustainability-related topics to internal and external stakeholders. The department has steered and monitored the process of defining OMV Petrom’s Sustainability Strategy 2025 objectives and targets and coordinates its implementation. It is also responsible for all social corporate awareness campaigns, and for communicating to all stakeholders, how important it is to integrate sustainability in business activity.