TotalEnergies: is it really diversifying its energy production?
Description
In May 2021, Total became TotalEnergies, a 'multi-energy company' with the ambition of being a major player in the energy transition. At least, this is what its CEO Patrick Pouyanne is trying to convince people of by positioning TotalEnergies as a responsible and socially acceptable partner, customer and employer, even in the context of the climate emergency. In financial terms, having people believe that TotalEnergies is diversifying makes it possible for the company to respond to financial players who want their support to fulfill their commitment to achieving net zero by 2050 on a 1.5 deg. C trajectory. But what does that really mean? What are these 'new energy sources' it talks so much about? Do these new sources of energy offer real solutions in terms of climate change, and do they really represent a growing and significant part of TotalEnergies' energy mix? Reclaim Finance asked these questions to help inform the company's financial stakeholders - its banks, insurers and investors, including its shareholders - and to provide fact-based recommendations on how to meet their own climate commitments
Abstract (French)
En mai 2021, Total est devenu TotalEnergies, une 'entreprise multi-energies' avec pour ambition d'etre un acteur majeur de la transition energetique. C'est en tout cas ce que tente de faire croire son PDG, Patrick Pouyanne, a travers une communication positionnant TotalEnergies comme un partenaire, client ou employeur responsable et socialement acceptable, y compris dans un contexte d'urgence ecologique. En matiere financiere, faire croire a la diversification de TotalEnergies permet de donner la replique aux acteurs financiers desireux de faire coincider leurs soutiens a la major avec leur engagement a atteindre la neutralite carbone d'ici 2050 suivant une trajectoire 1,5 deg. C. Mais qu'en est-il vraiment? Quelles sont les 'energies nouvelles' auxquelles TotalEnergies consacre la majeure partie de sa communication? Ces energies nouvelles constituent-elles des vraies solutions, a minima en matiere climatique, et representent-elles vraiment une activite grandissante et consequente du mix energetique produit de TotalEnergies? Reclaim Finance s'est pose ces questions en vue d'informer les parties prenantes financieres de la major - ses banques, ses assureurs et ses investisseurs, comprenant notamment ses actionnaires - et d'etablir a l'aune des faits des recommandations permettant le respect de leurs propres engagements en matiere climatique
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Additional details
Additional titles
- Original title (French)
- TotalEnergies: Faut-il croire a sa diversification?
Publishing Information
- Imprint Pagination
- 36 p.
- Report number
- INIS-FR--24-0298
INIS
- Country of Publication
- France
- Country of Input or Organization
- France
- INIS RN
- 55024118
- Subject category
- S29: ENERGY PLANNING, POLICY AND ECONOMY; S02: PETROLEUM; S03: NATURAL GAS;
- Descriptors DEI
- BIOFUELS; BIOGAS PROCESS; CARBON NEUTRALITY; DIVERSIFICATION; ENERGY SOURCE DEVELOPMENT; ENVIRONMENTAL IMPACTS; ENVIRONMENTAL POLICY; FINANCING; FOSSIL-FUEL POWER PLANTS; HYDROGEN PRODUCTION; LENDING INSTITUTIONS; LNG INDUSTRY; PETROLEUM INDUSTRY; RECOMMENDATIONS; RENEWABLE ENERGY SOURCES; TANKER SHIPS; TERMINAL FACILITIES
- Descriptors DEC
- ALTERNATIVE FUELS; ANAEROBIC DIGESTION; BIOCONVERSION; CLIMATE NEUTRALITY; DIGESTION; ENERGY SOURCES; FUELS; GOVERNMENT POLICIES; INDUSTRY; NATURAL GAS INDUSTRY; POWER PLANTS; SHIPS; THERMAL POWER PLANTS
Optional Information
- Notes
- 33 refs.; Available from the INIS Liaison Officer for France, see the INIS website for current contact and E-mail addresses