RAG - Home
Sustainability report 21|22

Sustainability approach

Strategic focus on sustainability

We firmly believe that our future energy landscape must offer security of supply, and be climate-friendly, technologically open and interlinked. As a company with a strong sense of responsibility, we aim to play an active part, bringing our know-how, practical experience and innovative capabilities to bear on the rapid realisation of a sustainable energy system.

RAG’s main strength lies in its capacity to innovate and to act in a way that is both responsible and far-sighted. Because of this we were very quick to see which way the wind was blowing, and by pushing ahead with investments in our demonstration facilities we are now in a position to highlight some of the possibilities that the energy future will open up. The future of energy will be all about clean, affordable energy for power, heat, industry and transportation, but at the same time we need to maximise security of supply. 

 We are already working proactively to shape the future of energy, in line with our commitment to promoting ‘renewables and gas‘. This is not only a major aspect of our social responsibilities and our obligations towards future generations; it is also central to our philosophy.

And supply security means providing solutions to the problems of energy poverty and supply shortfalls as part of Europe’s energy transformation, as well as safeguarding supplies of intermittent solar and wind power.

We are committed to overcoming these challenges – to reconciling security of supply and sustainability – and we see this as an opportunity to make our business model fit for the future. This is how we have made the transition from a conventional oil and gas producer to a European player, becoming Austria‘s largest energy storage operator and a pioneer in green gas technologies. 

Our core business is large-scale seasonal energy storage and supply. At the same time we are working flat-out to propel the energy sector and its technologies in the direction of carbon neutrality, and to cut greenhouse gas emissions. As a result, sustainability is an integral part of our strategic focus. Our sustainability targets relate to both current and future products as well as the climate-neutral operation of our facilities. We have set milestones to measure our progress towards meeting these targets by 2040 and we are working systematically to achieve them.

Due to the substantial technology expenses and investments involved in hitting our targets, long-term planning and stable partnerships are extremely important. Our strategic focus and the achievement of related targets are assessed at regular strategy meetings, and adjustments are made where necessary.

 We see ourselves as enablers who act as a link between renewables and security of supply.