SustainAbility has been working with OMV on its sustainability strategy since 2017.
As OMV developed its approach to sustainability, the company identified a need to more closely integrate sustainability with its business strategy. To support this approach, OMV asked SustainAbility to complete a benchmark to provide an assessment of the company’s current sustainability performance. We also worked with the team to review its 2017 Sustainability Report.
Assessed and reviewed how peer companies frame, focus and deliver their sustainability strategies including:
- Assessed OMV’s sustainability strategy and its integration with the business strategy against five peer companies
- Explored external trends and investor expectations on the company’s performance
- Interviewed issue experts and senior OMV executives
- Identified OMV’s strengths, weaknesses and opportunities for strategy development
“Thank you very much for the great cooperation, the benchmarking set the scene for the further development of our sustainability approach.”
Sustainability report review
We assessed the report against compliance with GRI Standards and the Austrian legislation for improved non-financial disclosure of sustainability, and diversity information (NaDiVeg). We also reviewed it against best practice on sustainability reporting and requirements of selected ESG/SRI ratings agencies, including DJSI and FTSE4Good. In our feedback we identified strengths, highlighted disclosure gaps and defined opportunities to enhance its corporate disclosure.
The findings were presented to the executive board and the work provided a basis for the development of OMV’s sustainability definition, focus areas and direction.