GlobalData offers a comprehensive analysis of Total, providing key insights into its Environmental, Social, and Governance(ESG) factors. By closely monitoring and aggregating mentions of Net Zero and associated ESG keywords, GlobalData delivers valuable information on Total’s ESG performance. GlobalData’s company profile on Total offers a 360-degree view of the company, SWOT analysis, key financials, and business strategy including insights on ESG implementation among other information. Buy the report here.
TotalEnergies is transitioning to a multi-energy company with a focus on electrifying energy use, expanding in renewable and low-carbon energies, consolidating its position in the liquefied natural gas (LNG) market, and strategically investing in oil projects with low breakeven points and emissions to remain profitable and resilient in evolving energy markets. The company aims to achieve its net-zero targets by 2050 or sooner. In 2023, company is aiming aggressively in reducing Scope 1 & 2 emissions with a new target in absolute value of 38 Mt CO2e by 2025. TotalEnergies latest filings mentioned the keywords 'Emissions' and ‘Sustainable Energy’ most number of times in relation to 'Net Zero'.
TotalEnergies has control over emissions from the facilities it operates (Scope 1) and their indirect emissions from purchased energy (Scope 2). Company’s Scope 3 indirect emissions products have declined since 2015 and the carbon intensity indicator for the energy products has dropped 12% since 2015. Net carbon footprint of company’s scope 3 oil world was 254 Mt CO2e in 2022 as compared 350 Mt CO2e in 2015, a decline of more than 27%. The company has achieved a significant reduction of over 13% in emissions from its operated facilities since 2015, with emissions from CCGT plants accounting for 7 million tons of the total reduction. Specifically, the emissions reduction for operated oil and gas activities is even higher, approaching 30%, as a result of the new strategy for flexible power generation capacity.
In conclusion, TotalEnergies' transition to a multi-energy company, focusing on electrification, renewable energies, LNG, and low-emission oil projects, demonstrates its commitment to achieving net-zero targets by 2050, with aggressive efforts to reduce Scope 1 & 2 emissions and a significant overall reduction in emissions since 2015.