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Total, a global multi-energy company, has set target for net zero by 2050 as part of its commitment to transforming the energy sector and the company is actively working towards reducing its carbon emissions. TotalEnergies has identified three scopes of emissions - scope 1, scope 2, and scope 3 - and aims to address each of them. In 2022, company’s Scope 1+2 GHG emissions reported was 40 Mt CO2e and scope 3 was 389 from use of sold products (excluding Covid impact for first half 2022) Mt CO2e. In 2023, company are intensifying efforts to reduce Scope 1 and 2 emissions, setting a new absolute target of 38 Mt CO2e by 2025.
The company acknowledges that it has control over emissions from its facilities (scope 1) and indirect emissions from purchased energy (scope 2). It also recognizes that emissions from the end use of its products by customers (scope 3) depend on external factors. The company is reinforcing its commitment to reducing Scope 3 emissions from its oil activities, aiming for a reduction of -40% by 2030 compared to 2015, and a -30% reduction by 2025. Additionally, the objective to lower the carbon intensity of the energy mix sold to customers has been enhanced, targeting a -25% reduction by 2030 relative to 2015 and a -15% reduction by 2025.
By the year 2050, TotalEnergies plans to generate approximately 50% of its energy in the form of low-carbon electricity, along with the necessary storage capacity, totaling about 500 TWh/year. This is based on the assumption of developing around 400 GW of renewable capacity. In 2022, TotalEnergies achieved notable performance in its operated upstream oil and gas activities, boasting the lowest production cost per barrel at around $5/boe and the lowest greenhouse gas emissions intensity (Scope 1+2) among its peers, standing at approximately 17 kg CO2e/boe.
TotalEnergies has taken steps to reduce its emissions and achieve its net-zero targets. The company has made investments in renewable energies and electricity, indicating its commitment to transitioning to cleaner energy sources. It is also actively involved in the production and supply of oil and biofuels, natural gas and green gas, and is exploring ways to reduce the carbon intensity of its products.
TotalEnergies is focused on reinventing energy and creating shared value. The company is committed to caring for the environment and ensuring people's well-being. It is also actively involved in sustainability and climate initiatives, as evidenced by its progress report.
In conclusion, Total is dedicated to achieving net-zero targets and reducing its carbon emissions. The company recognizes the importance of addressing scope 1, scope 2, and scope 3 emissions and is taking steps to achieve its goals. Through investments in renewable energies and electricity, TotalEnergies is working towards transforming the energy sector and creating a sustainable future.