The table below shows the potential impacts of the individual key topics on the economy, the environment and society, as well as the measures that RAG Austria AG has introduced in order to enhance the positive effects and prevent or moderate any negative effects. Our aim is to build on previous achievements and existing systems, and continuously examine the impacts over the next two years, in order to adapt or improve the measures we have implemented, where necessary.
This means prioritising the elimination of all risks, hazards and damage at all of the facilities that RAG operates
Economic impacts (+/-)
+ Economic benefits
+ Reliable energy supplies
+ Planning certainty/risk minimisation for customers
- Substantial investment and technology spending for RAG
Environmental impacts (+/-)
+ Lower or zero emissions
+ Avoiding duplicated structures in infrastructure planning
Social impacts (+/-)
+ Secure, reliable energy supplies
+ Seasonal energy storage
+ Significantly fewer accidents
+ Increased safety for employees
+ Protection against attacks by third parties, incl. cyberattacks
Measures
Ensuring high technical safety levels at facilities through measures and management of:
This means ensuring reliable, uninterrupted, affordable and secure supplies of gas for power and heat generation, industry and transport
Economic impacts (+/-)
+ Economic benefits – domestic value-added
+ Reliable energy supplies for Austria and Central Europe
+ Safeguarding Austria’s standing as a business location
Environmental impacts (+/-)
+ Lower or zero emissions
+ Avoiding duplicated structures in infrastructure planning
Social impacts (+/-)
+ Secure, reliable energy supplies
+ Seasonal energy storage
+ Significantly fewer accidents
+ Increased safety for employees
+ Protection against attacks by third parties, incl. cyberattacks
Measures
Ensuring high technical safety levels at facilities through measures and management of:
This means that sustainability is firmly embedded in our strategy. The cornerstone of this approach is the sustainable use of former production sites. Existing production infrastructure, pore reservoirs, above-ground facilities and pipeline systems will be put to efficient use, expanded and operated in a climate-neutral manner.
Economic impacts (+/-)
+ Economic growth through innovation
+ Economic benefits
+ Safeguard the company’s long-term performance by diversifying future business operations
- Significant technology expenditure and investment required in order to achieve climate and energy targets
- Risk associated with R&D projects
Environmental impacts (+/-)
Reduction in greenhouse gas emissions in future by:
+ Integrating conventional energy storage and carbon-neutral energy forms (sector coupling)
+ Developing and establishing storage options for renewables (hydrogen storage)
Social impacts (+/-)
+ Supporting social/political calls for renewable energy supplies
+ Affordable energy supplies for future generations through reuse of infrastructure
+ Year-round availability of renewable energy
+ Job creation
+ Safeguarding domestic expertise in decarbonisation technologies
Measures
Protecting the climate is the core focus of a sustainable energy system. RAG aims to support decarbonisation by developing and implementing projects related to environmentally friendly energy storage
Economic impacts (+/-)
+ Develop innovative solutions for the storage of renewable energies through research and development
± Evolution of CO2 prices
- Significant technology expenditure and investment required in order to achieve climate and energy targets
Environmental impacts (+/-)
+ Efficient use of energy at RAG sites
+ Short transportation routes
- Operation of facilities generates greenhouse gas emissions
Social impacts (+/-)
+ Secure and clean energy supplies
+ Supporting achievement of European and Austrian climate targets
Measures
This means taking proactive steps to protect our employees’ health and safety in a constantly changing working environment and aiming for zero accidents in all of our operations
Economic impacts (+/-)
+ Preventive measures reduce number of sick leave days
- Outages due to work-related accidents
- Risk of physical and mental health problems
Environmental impacts (+/-)
+ Raising awareness influences personal environmental behaviours
Social impacts (+/-)
+ Healthy employees
+ Positive image as a good employer
- Injured employees
- Risk of physical and mental health problems
Measures
This means that RAG operates in a socially responsible manner, in conformity with the relevant legislation, and that its decisions are transparent for the company’s suppliers and customers, as well as clearly communicated.
Economic impacts (+/-)
± Fair or distorted market conditions
- Influence by politicians
- Breaches of compliance regulations by employees
Environmental impacts (+/-)
+ Environmental protection
+ Enhanced information/transparency regarding supply chains
+ Sustainability as a quality criterion for goods and services
Social impacts (+/-)
+ Role model in corporate governance
± Public reputation
Measures
This means performing R&D on sustainable, innovative technologies for seasonal, high-capacity energy storage and the supply of gaseous energy forms, as well as reuse of depleted reservoirs for energy storage and the production of renewable gas.
Economic impacts (+/-)
+ Economic growth through innovation
+ Safeguarding competitiveness
+ Competitive advantage thanks to technological expertise
+ Economic benefits
+ Options for shaping the energy market
- Risk of delays and setbacks in R&D projects
Environmental impacts (+/-)
+ Reuse of depleted reservoirs
+ Significant contribution to climate protection
Social impacts (+/-)
+ Protecting and creating jobs
+ Use of existing gas infrastructure for future generations
Measures
We are committed to using resources responsibly, using environmentally sound processes, minimising environmental risks and local impacts, and remediating former production sites.
Economic impacts (+/-)
+ Cost savings due to more efficient, eco-friendly processes
- Costs arising from stricter environmental regulations
Environmental impacts (+/-)
+ Site restoration
- Impacts on landscapes and habitats
- Consumption of natural resources
Social impacts (+/-)
+ Supporting social/political calls for renewable energy supplies combined with environmental protection
Measures
This means that RAG treats its employees with respect, offers them flexible and safe working conditions, and creates an environment that supports them in making the best use of and developing their abilities.
Economic impacts (+/-)
+ Creating and protecting jobs
+ Economic benefits
+ Retaining expertise within the company
- Higher expenses for employee benefits and staff retention
Environmental impacts (+/-)
+ Support for measures aimed at raising awareness of eco-friendly behaviours
Social impacts (+/-)
+ Attractive working environment
+ Flexible working arrangements result in improved work-life balance
+ Training and development for students and interns
+ Good labour market prospects for staff in technical occupations
+ Creating jobs in the local technology/science sector
Measures
This means that RAG has a responsibility to communicate openly with stakeholder groups, provide them with comprehensive information, treat them with respect, and take their interests into account as far as possible – we believe that open, proactive communications are essential for our operations.
Economic impacts (+/-)
+ Project implementation
+ Transfer of knowledge on topics related to climate and environmental protection
- Delays in or obstacles to projects
Social impacts (+/-)
+ Image as a good neighbour
- Negative image of oil and gas companies
Measures
This means that our procurement policy is transparent and understandable to suppliers, and that sustainability forms part of contract award procedures.
Economic impacts (+/-)
+ Domestic value-added
+ Transparent procurement policies lead to fair competition
- Higher costs due to regional sources of supply
Environmental impacts (+/-)
+ Lower emissions due to reduction in transportation
+ Reduced impact thanks to full-life-cycle approach
Social impacts (+/-)
+ Compliance with CSR principles leads to increased awareness and stronger image among employees and suppliers
Measures
This means that we talk openly and honestly with local authorities, residents, landowners and public agencies, and act as a reliable partner to host regions. RAG sees itself as part of the communities that host its facilities.
Economic impacts (+/-)
+ Support for regional economy
- Image affected by negative publicity
Environmental impacts (+/-)
+ Short transportation routes
Social impacts (+/-)
+ Image as a good neighbour in local communities
+ Employees as local residents: ambassadors in the community
- Public opposition to projects
+ Stemming flow of people away from rural areas by creating local, high-tech jobs
Measures
Risks related to plant safety, the environment, workplace safety and compliance are already taken into account in RAG’s company-wide risk management systems (see the chapters “Responsible management”, “Safe plant and work processes” and “Climate and environmental protection” for further details). By the time our next sustainability report is published, we aim to have identified any additional risks as well as opportunities associated with sustainability that have not yet been taken into account.
