For ÖBAG, the traceability and measurability of changes are crucial, including the increase in CO₂ emissions and the resulting climate risks. As a major public investor in Austria, ÖBAG and its portfolio companies are gradually driving the transformation to a decarbonized economy. With cross-portfolio CO₂ tracking, the holding company is taking a significant step toward decarbonization as part of its investment management. Furthermore, the benchmarking is intended to encourage even better performance.

Ambitious climate strategies show success

All major companies in the portfolio have ambitious strategies for reducing CO₂ emissions, and the listed companies in particular are regularly recognized by international rating agencies for their goals and measures. Carbon Disclosure Project (CDP) the ÖBAG companies were successfully listed. Austrian post and the  Telekom Austria were able to improve from A- or B to A compared to the previous year. The global Science Based Targets Initiative (SBTi) confirmed the strategies for reducing CO₂ emissions. Telekom Austria has had an SBTi-compliant emission reduction target since 2020, Austrian Post has been working on implementing one since 2022, and Bundesimmobiliengesellschaft has already initiated internal discussions on building-specific standards according to SBTi and is already working in line with the high scientific standards. SBTi expects a corresponding standard for the building sector to be published by SBTi in the course of 2023.

Reducing CO₂ emissions is a success factor

The further reduction of CO₂ emissions across the entire portfolio of the investment holding company is a key success factor in achieving national and European climate targets. ÖBAG sees the preservation and enhancement of value across generations as a core task of its activities. Through cross-portfolio and industry-specific CO₂ tracking, progress can be measured and areas for action identified.

Consideration of the overall societal emissions cycle

The focus is on a holistic view of CO₂ emissions across ÖBAG's portfolio. When monitoring Scope 1, Scope 2, and Scope 3 emissions, the ÖBAG sustainability team focuses on direct and indirect CO₂ emissions. This holistic approach to CO₂ monitoring enables the social impacts of emissions to be measured as effectively as possible. The analysis of Scope 1 and Scope 2 emissions focuses on the direct CO₂ emissions within the company (e.g., in production or the vehicle fleet) as well as the ecological footprint of energy consumption. The analysis of Scope 3 emissions is even more comprehensive, taking into account upstream and downstream processes in the value chain and thus large parts of the supply chain and consumption-related emissions.

With regard to Scope 2 emissions, ÖBAG's portfolio companies choose the particularly transparent market-based approach. In the ÖBAG portfolio, over 90 percent of emissions are produced by the international energy and chemicals group OMV, with its global reach. OMV's footprint is particularly large in the portfolio when it comes to Scope 3 emissions, which arise from the combustion of oil and gas, for example. In addition to CO₂ emissions, industry-specific emissions such as methane and nitrogen oxides (NOx) are also the focus of ÖBAG's environmental performance analysis, comparing the companies with international peer groups.

2022: Reduction in emissions and increased efficiency

In 2022, most of the portfolio companies were able to reduce their absolute CO₂ emissions and significantly improve their CO₂ intensity (Scope 1 and Scope 2 emissions in relation to revenue). Across the entire ÖBAG portfolio, this results in a decrease in Scope 1+2 emissions from approximately 15.600 ktCO₂e (restated) in the previous year to approximately 13.700 ktCO₂e. While the absolute CO₂ emissions of the ÖBAG portfolios in CO₂ monitoring 2021 Due to the full consolidation of Borealis into OMV and Aras Kargo into Austrian Post, no major acquisitions or full consolidations took place at any of the portfolio companies in 2022. The massive increase in sales revenues at OMV and Verbund due to the high energy price level in 2022, coupled with a decrease (OMV) or a comparatively small increase (Verbund) in absolute CO₂ emissions, led to a significant improvement in their CO₂ intensity and thus also in the entire ÖBAG portfolio.

International industry pioneers in many areas

ÖBAG's ESG monitoring system annually measures the sustainability efforts of its subsidiaries and compares progress with international leading practice. The improvement opportunities identified through international benchmarking and based on the analysis of sustainability reports and studies are discussed in various sparring meetings with various stakeholders (supervisory boards, NGOs, academic institutions). composite, as a pioneer in sustainable energy generation, and Austrian Post, as a pioneer in e-mobility, have been industry role models for years in terms of climate-friendly business activities. Exciting future investments by OMV The investment of approximately €13 billion by 2030 to give the group a new direction without hydrocarbons, as well as Telekom Austria's energy-efficient fiber optic expansion, position ÖBAG's portfolio companies excellently for future sustainable value generation compared to other international industries. With the transparent disclosure of CO₂ emissions, the Federal Real Estate Company also further expanded its market position in the areas of climate protection and renewable energies in the building sector.

Bernhard Gill is responsible for the cross-investment analysis of ÖBAG's portfolio. Before joining ÖBAG, he worked in corporate valuation and auditing, gaining insights into a wide range of industries. His international work for the Foreign Trade Center in the Philippines shaped his understanding of global economic interrelationships.