To support the EU’s carbon neutrality target, TOTAL S.A. and institutional investors have developed a joint statement announcing the ambition of becoming a net-zero energy business.
While TOTAL already reduced its carbon emissions by 6% since 2015, the company confirms its target of a renewable generation gross capacity of 25 GW in 2025 and wants to increase the allocation of Capex in favor of low carbon electricity to 20% by 2030 latest.
“As the EU has set the target to achieve net zero emissions by 2050 and thereby lead the way for other regions to become carbon neutral over time, Total takes that commitment to become neutral for all its businesses in Europe2. At the time where Total elects to adopt the status of a European company, Total wants to be an exemplary European corporate Citizen and offers its active support for the EU to achieve net zero emissions by 2050. Total will work together with other businesses to enable decarbonization of energy use,” says Patrick Pouyanné, Chairman of the Board.
The joint statement identifies three major steps on the way to TOTAL’s set goals: First, Net Zero has to be achieved across worldwide operations by at least 2050 and, second, across all TOTAL’s production and energy products used by European customers. The third step demands 60% or more reduction in the average carbon intensity of energy products in Europe.
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