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Transitioning to low carbon and decreasing emissions: OMV Petrom publishes latest Sustainability Report

OMV Petrom’s 2023 Sustainability Report, an overview of the company’s economic, environmental and social achievements, boasted progress in the Romanian energy producer’s transition to a low carbon business, with an 11 per cent decrease in carbon emissions intensity and a 72 per cent decrease in methane emissions, compared to 2019.

The largest Southeastern European integrated energy producer also continued efforts to positively impact local communities and to support nationwide projects: the Bucharest-based company spent more than 40 million euros on social projects with 850,000 beneficiaries so far.

The CEO of OMV Petrom, Christina Verchere announced that the company made significant progress in 2023 in the area of strategy execution, transitioning to a low-carbon business, with key achievements in the areas of renewables and e-mobility.

Ms Verchere underlined that OMV Petrom started the development phase of Neptun Deep, which is quintessential in the smooth transition to a low-carbon economy. The company also continued to reduce emissions and remained committed to achieving a 30 per cent reduction of the carbon intensity of the firm’s operations by 2030, compared to 2019.

The Sustainability Report also highlighted that more than 1 gigawatt (GW) of renewable energy projects was achieved, including partnerships in Romania and 270 recharging stations installed in the Southeast European regional network, while the recovery rate of total waste increased to 82 per cent in 2023.

As a result of these sustainable transformation efforts, OMV Petrom’s management of sustainability continued to be rated as strong. The company was included in the FTSE4Good Index Series based on proven strong environmental, societal and governance practices.

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