TOTAL: Total Adopts a New Climate Ambition to Get to Net Zero by 2050
05 Mayo 2020 - 4:46AM
UK Regulatory
TIDMTTA
Total (Paris:FP) (LSE:TTA) (NYSE:TOT) announces today its
ambition to get to net-zero emissions by 2050 together with society
for its global business across its production and energy products
used by its customers.
Through a joint statement developed between Total S.A. and
institutional investors -- as participants in the global investor
initiative Climate 100+(1) -- Total takes 3 major steps towards
achieving this ambition:
Three major steps to get Total to Net Zero:
1. Net Zero across Total's worldwide operations by 2050 or
sooner (scope 1+2)
2. Net Zero across all its production and energy products used
by its customers in Europe(2) by 2050 or sooner (scope 1+2+3)
3. 60% or more reduction in the average carbon intensity of
energy products used worldwide by Total customers by 2050 (less
than 27.5 gCO2/MJ) - with intermediate steps of 15% by 2030 and 35%
by 2040 (scope 1 + 2 + 3)
This ambition is supported by the strategy to develop Total as a
broad-energy company, with oil and gas, low-carbon electricity and
carbon-neutrality solutions as integrated parts of its business.
Total firmly believes this low-carbon strategy provides a
competitive advantage which creates long term value for its
shareholders.
This strategy is already in action since 2015 as Total is the
leading major in terms of reduction of its scope 3 average carbon
intensity with a 6% reduction already achieved since 2015. And
today it sets the highest ambition amongst the majors for its scope
3 average carbon intensity with less than 27.5 GCO2/MJ by 2050.
Patrick Pouyanné, in his capacity as Chairman of the Board,
declared: "Energy markets are changing, driven by climate change,
technology and societal expectations. Total is committed to helping
solve the dual challenge of providing more energy with fewer
emissions. We are determined to advance the energy transition while
also growing shareholder value. Today, we are announcing our new
Climate Ambition to get to Net Zero by 2050 - together with
society. The Board believes that Total's global roadmap, strategy
and actions set out a path that is consistent with goals of the
Paris agreement. We acknowledge the positive role of engagement and
open dialog with investors as the one we experienced with Climate
100+ along the last months.
We recognize that the trust of our shareholders, and society
more widely, is essential to Total remaining an attractive and
reliable long-term investment. And only by remaining a world-class
investment can we most effectively play our part in advancing a low
carbon future. This is the reason why our people are already in
action across Total, seeking opportunities to reduce our emissions,
improve our products and develop new low-carbon businesses".
Regarding the commitment to become a net-zero energy business in
Europe, he commented: "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 Europe(2) . 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".
Total confirms its target of a renewable generation gross
capacity of 25 GW in 2025 and will continue to expand its business
to become a leading international player in renewable energies.
Total currently allocates more than 10% of its Capex to low carbon
electricity, the highest level among the Majors. To actively
contribute to the energy transition, Total will further increase
its allocation of Capex in favor of low carbon electricity to 20%
by 2030 or sooner.
The attached link allows access to the Joint Statement: Original
Joint Statement.
***
About Total:
Total is a major energy player that produces and markets fuels,
natural gas and low-carbon electricity. Our 100,000 employees are
committed to better energy that is safer, more affordable, cleaner
and accessible to as many people as possible. Active in more than
130 countries, our ambition is to become the responsible energy
major.
Media Relations: +33 1 47 44 46 99 l presse@total.com l
@TotalPress
Investor Relations: +44 (0)207 719 7962 l ir@total.com
Cautionary note:
This press release, from which no legal consequences may be
drawn, is for information purposes only. The entities in which
TOTAL S.A. directly or indirectly owns investments are separate
legal entities. TOTAL S.A. has no liability for their acts or
omissions. In this document, the terms "Total", "Total Group" and
Group are sometimes used for convenience. Likewise, the words "we",
"us" and "our" may also be used to refer to subsidiaries in general
or to those who work for them. This document may contain
forward-looking information and statements that are based on a
number of economic data and assumptions made in a given economic,
competitive and regulatory environment. They may prove to be
inaccurate in the future and are subject to a number of risk
factors. Neither TOTAL S.A. nor any of its subsidiaries assumes any
obligation to update publicly any forward-looking information or
statement, objectives or trends contained in this document whether
as a result of new information, future events or otherwise.
(1) According to Total evaluation, participants to Climate
Action 100+ own more than 25% of Total's shares.
(2) Europe means the EU + Norway + UK
View source version on businesswire.com:
https://www.businesswire.com/news/home/20200505005456/en/
CONTACT:
Total
SOURCE: TOTAL
Copyright Business Wire 2020
(END) Dow Jones Newswires
May 05, 2020 05:46 ET (09:46 GMT)
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