Chairman and CEO of Total, Patrick Pouyanné, announced that the board of directors has decided to ask for shareholder approval to change the Group’s name to TotalEnergies.
“TotalEnergies will symbolise our strategic transformation into a broad energy company,” Pouyanné explained the proposed Total name change.
In December 2015, the Paris Agreement woke people up to the climate issue, he noted, adding “By calling for worldwide carbon neutrality in the second half of the century, it set a demanding but unquestionable target for taking up this challenge that we all have to face.
“Because of our activities, our Group, us, the men and women of Total, stand at the heart of this issue.”
Pouyanné highlighted that Total has always supported the objectives of the Paris Agreement, “which is why we started a significant move towards new energies in 2016, so that we could continue to fulfil our mission to provide more affordable, more reliable and cleaner energy, in the best way,” he said.
More energy and fewer emissions. This is the twofold challenge that the world, and more particularly the energy sector that has to face.
Total sets net zero carbon emissions goal
Last May the company announced its ambition to get to net zero carbon emissions across all the Group’s activities by 2050, together with society.
The climate ambition demands a major change in the Group, says Pouyanné “which we presented in September, and we will have to go through a genuine transformation. The 2020-2030 decade will see that happen, as we become a broad energy company. We will dramatically increase the production and sale of renewable electricity. We will also continue to develop the production of gas and renewable gas. And at the same time, we will begin the journey to less oil,” he said.
Pouyanné added: “We will have to achieve this while continuing to improve the economic and environmental performance of our oil and gas business lines, of which we are proud, because the world needs them, and providing new low carbon solutions, reducing our own emissions, and working with our customers to help them adapt their consumption of energy products, and hence also reduce their carbon emissions.
“This is a major movement, a transformation to become the responsible energy company, which puts sustainability, and sustainable development, at the heart of its strategy. The board of directors wanted to root this transformation in our identity.”