On Wednesday, Austrian energy group OMV announced that it has set to hit net zero emissions by 2050, joining other industry majors on the curbing carbon emissions effort amid calls to tackle global warming.
OMV will cut its operations’ greenhouse gas and indirect emissions to net-zero by 2050 or sooner by several sustainable measures. The company will use new technologies such as carbon storage, using alternative feedstocks, such as plastic waste, as well as using solar power for its operations in Austria.
OMV will also slash 50% of the carbon intensity from all of its products, and from its operations by at least 30% by 2025. This would involve decreasing carbon emissions at its exploration and production business by at least 60% from its 2010 levels, and at its refining business by no less than 20%.
However, OMG excludes Borealis on its plan on its reduction of carbon intensity on its operations.
