The company’s 2020 Annual Report says it is “ the second largest petrochemist in Western Europe”, and its petrochemicals production has increased from 7.4 million tonnes in 2018 to 7.8 million tonnes in 2020. The company has set 20 targets to reduce, in absolute terms, the Scope 1 and 2 emissions from the fossil fuels facilities it operates but these exclude the emissions from fossil gas power plants. Total’s reports do not explain what this exclusion of its emissions-intensive gas power operations from some of its targets is intended to achieve.ĭespite the massive climate impacts of petrochemicals used for plastics, Total’s pledges apply to energy products and so exclude petrochemicals. By this date, the company plans for 85% of its energy product sales to be either oil or gas. Taking into account what Total calls the “ COVID-19 effect” for 2020, the company has not reduced its disclosed Scope 3 emissions since 2015: the emissions from its products have stayed at around 400 million tonnes of CO2 equivalent each year since 2015.īy 2030, Total plans to reduce oil sales but to increase its fossil gas sales – from 33% of its sales in 2019 to 50% in 2030. The company has significantly scaled up its renewable spend and ambitions more recently.
Although its advertisements focus on new green tech and innovation, between 20 the reporting estimated it spent only 0.7% of its revenue on low-carbon technology research and development. By this date, the company plans for 85% of its energy sales to be either oil or gas.īut its ads tell a different story.watch our video to see company greenwashing in action.īetween 20, Total was estimated to have allocated 4% of its capital expenditure to sources of low-carbon energy like wind and solar. More and quicker emissions reductions would be required to limit temperature rise to the Paris goal of 1.5☌ and to avert more climate harms to people and to the environment.īy 2030, Total plans to reduce oil sales but increase its fossil gas sales – from 33% of its sales in 2019 to 50% in 2030. In this scenario, total temperature rise is limited to 1.75☌ by 2100. The Benchmark estimates that over $3.1 billion of Total’s 2019 capital expenditure on ‘upstream’ fossil fuel extraction and production, and 58% of the company’s future capital expenditure, conflict with the International Energy Agency’s ‘Beyond Two Degrees’ scenario. Total is also scored ‘Partial’ for committing to align its capital allocation (investments) with its targets but failing to seek to align investments with the Paris Agreement goal to limit global temperature rises to 1.5☌ above pre-industrial levels. Contact us to learn how you can benefit from IoT predictive maintenance solutions, asset performance management software, predictive maintenance software, reservoir modeling, artificial intelligence in pharmaand data analytics for utilities, solving power plant maintenance and equipment lifecycle challenges.The Climate Action 100+ Net Zero Company Benchmark finds that Total only meets some of the Benchmark’s targets criteria – the company does not have both an ambition to reach ‘net-zero’ and net zero-aligned short, medium and long-term GHG reduction targets which cover all its relevant emissions.
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