Climate damage caused by OMV: 102 billion euros bill for Austria!

Climate damage caused by OMV: 102 billion euros bill for Austria!

On November 4, 2025, Greenpeace activists unrolled an eleven-meter-long “climate receipt” in front of the parliament in Vienna. This action took place in the presence of the actress and climate activist Valerie Huber. It illustrates the immense financial burden caused by the emissions of the Austrian energy company OMV. According to Ökonews, the climate damage caused by OMV over the last ten years amounts to over 102 billion euros. These costs are not only a price for the environment, but also a burden on society, which bears the consequences of the climate crisis.

The costs of damage are diverse: They include the consequences of natural disasters, sea level rise, extreme weather and impacts on health and agriculture. What is worrying is that since the Paris Climate Agreement in 2015, OMV has incurred costs that are more than 30 times as high as Austria has contributed to international climate financing.

Demands from Greenpeace

Greenpeace is calling on the Austrian federal government to fairly tax the profits of oil and gas companies. A central point is the demand for international laws that ensure that those responsible for climate damage are held accountable. It is argued that climate-related damage occurring today will have long-term consequences extending into the year 2300. The “climate receipt” submitted proves that fossil companies are the main cause of the climate crisis and that the population must bear the consequences.

An example given by Greenpeace is the Bisic family from Gablitz, whose house was damaged after the floods in 2024. Their financial damage amounts to over 24,000 euros, which further underlines the responsibility of the companies responsible. Greenpeace demands that revenue from potential taxation go to disaster funds and climate protection measures. In addition, the existing energy crisis contribution for fossil companies should be expanded into a so-called “climate crisis contribution”.

Economic impact of the climate crisis

The climate crisis not only has ecological dimensions, but also serious economic dimensions. According to a report by taz, rapid global warming and environmental destruction pose a significant threat to all sectors of the global economy. Hedge fund managers continue to rely on their usual strategies, while long-term investors such as pension funds and sovereign wealth funds are increasingly incorporating nature and climate-related risks into their decisions. For example, the Norwegian sovereign wealth fund tests 96% of its portfolio for natural capital risks.

Particularly in low-income countries, extreme weather events, such as the floods observed in Pakistan in 2022, lead to agricultural damage and rising food prices. But even wealthier countries are not spared from these ecological threats, as shown by droughts in the USA and the impact on agriculture in Europe. Many financial institutions are increasingly recognizing the need to integrate these natural risks into their models.

conclusion

According to Greenpeace, the call for responsibility and fair taxation of fossil energies is becoming increasingly urgent. The global climate threats are not only putting the environment to the test, but also the economic stability of all countries. The long-term damage of the climate crisis requires an immediate and regulated response through international legislation and responsible economic decisions.