Analysis of Materiality
To ensure effective and transparent sustainability management, we conduct a double materiality assessment to determine which sustainability topics are most relevant to OMV.
The materiality assessment 2024 was the first one that OMV conducted under the ESRS framework and thus first time based on the double materiality principle, considering both, impact as well as financial materiality. This assessment was conducted in 2023 and thoroughly reviewed in 2024. The results of the 2024 materiality assessment confirmed OMV’s material topics Climate Change, Environment, Resource Use and Circular Economy, Health, Safety & Wellbeing, Own Workforce, Workers in the Value Chain, Affected Communities, Business Conduct, as well as the entity-specific material topics Cybersecurity and Economic Impact.
The OMV material topics and material sub-topics are grouped in OMV’s five Sustainability Focus Areas Net-Zero Transformation, Natural Resources Management, Health & Safety, People & Their Human Rights and Ethical Business Practices.
An extensive materiality analysis involving internal and external stakeholders will be repeated at least every three years or if significant changes in the business or market environment occur.
Process
OMV conducted a detailed assessment to identify important sustainability topics. This involved five steps: creating a list of topics, interviewing experts, consulting stakeholders, scoring the topics, and prioritizing them. The goal was to understand impacts, risks, opportunities, and what stakeholders care about. This process helped OMV focus on the most important issues for the company and its stakeholders.