OMV Sets New Climate Targets
July 29 2020 - 6:04AM
Dow Jones News
By Giulia Petroni
OMV AG said Wednesday that it has set new climate goals as it
achieved its previous carbon-intensity targets ahead of
schedule.
The Austrian oil-and-gas company said it expects to reach
net-zero greenhouse gas emissions for its operations--scope 1 and
2--by 2050 or sooner through energy efficiency measures, new
technologies and portfolio optimization.
To achieve this target, OMV aims to reduce its carbon intensity
by at least 30% by 2025 through a reduction of at least 60% for
upstream and 20% for refining compared to 2010 levels.
The company added a share of at least 60% of zero or low carbon
products will be part of its portfolio by 2025, which will result
in a reduction of the product portfolio's--scope 3--carbon
intensity by at least 6% compared to 2010.
OMV said it would provide more details at the strategy update in
2021.
Write to Giulia Petroni at giulia.petroni@wsj.com
(END) Dow Jones Newswires
July 29, 2020 05:49 ET (09:49 GMT)
Copyright (c) 2020 Dow Jones & Company, Inc.
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