CLIMATE
© Éolien Arques - Total
A New Climate Ambition to Get to Net Zero by 2050
Total’s new climate ambition, announced in May 2020, is to get to net-zero emissions by 2050, together with society, for all its operations, from production to the use of the energy products sold to its customers.
This ambition is based on three key components:
1
An objective of net-zero emissions from Total’s worldwide operations by 2050 or sooner (Scope 1+2*)
Total is responsible for these emissions and we have the power to do something about them, because they’re generated by our industrial operations.
2
A commitment in Europe** to achieve net-zero emissions from all our production operations and Total energy products used by our customers by 2050 or sooner (Scope 1+2+3***)
We’re able to make this commitment because Europe has set the same goal for itself. The European Union is going to adopt policies, regulations and a carbon price that are in line with its ambition of carbon neutrality. Total intends to be a committed corporate citizen of Europe and make good use of this E.U. policy.
3
An ambition to reduce the average carbon intensity of the Total energy products used by our customers worldwide by at least 60% between now and 2050*** (less than 27.5 g CO2 /MJ), with intermediate targets of 15% in 2030 and 35% in 2040 (Scopes 1+2+3).
Total is the leading oil major in terms of reducing the average carbon intensity of the energy products sold, with a 6% reduction already achieved since 2015.
To reduce our carbon intensity by 60%, our mix will need to change dramatically between now and 2050 to include 40% green, renewable electricity, 40% gas – but a mixture of natural gas and green gas produced from hydrogen or biogas – and just 20% liquid fuels, of which three-quarters oil and one-quarter biofuels.
This is the multi-energy group that we’re in the process of building. Total currently allocates more than 10% of its investments to low-carbon electricity, the highest level among the majors. To actively contribute to the energy transition, Total will further increase its allocation of investments in favor of low-carbon electricity to 20% by 2030 or sooner.
Total firmly believes that its low-carbon strategy represents a competitive advantage that will create value for its shareholders over the long term.
Climate change, technology, and societal expectations are driving numerous changes in the energy markets. Total is committed to helping solve the dual challenge of providing more energy with fewer emissions.
* Scope 1 and 2 emissions are generated by Total’s operations: production (oil, gas, renewables, electricity storage, end products and purchased goods) and transformation (refining, liquefaction, gas-fired combined cycle power plants).
** European Union + Norway + United Kingdom.
*** This covers Scope 1, 2 and 3 emissions. Scope 3 emissions are those generated by customers’ use of the energy products sold by Total (petroleum products, biofuels, natural gas, hydrogen, biogas, electricity).
