Expert Insight

Total announce their commitment to NetZero

May 2020
Written by Sarah Casey, Portfolio Manager, Energy Council

Amidst the daily sobering news which is inevitably focused on the COVID-19 pandemic and struggling societies and economies, there are positive and exciting things happening, one being Total announcing their commitment to NetZero.

Total have now gone public with their ambition to reach Net Zero emissions by 2050. This new climate ambition is in support of the EUs carbon neutrality target and will encompass all of Total’s European businesses.

This significant step for Total is part of their strategy to transition from a traditional IOC to a broad-energy company incorporating low-carbon electricity and carbon-neutrality solutions.

Total have described the three major steps to achieve this as:

Net Zero across Total’s worldwide operations by 2050 or sooner (scope 1+2)
Net Zero across all its production and energy products used by its customers in Europe2 by 2050 or sooner (scope 1+2+3)
60% or more reduction in the average carbon intensity of energy products used worldwide by Total customers by 2050 (less than 27.5 gCO2/MJ) – with intermediate steps of 15% by 2030 and 35% by 2040 (scope 1 + 2 + 3)

Total is joining ranks with the likes of Shell, BP & Repsol, all of which have pledged to reach net zero emissions. For more information, take a look at our IOC low-carbon tracker here

You might also be interested in

From Data to Decisions: Leveraging Emission Data for Predictive Maintenance and Asset Optimization

As the global energy landscape continues to evolve, regulatory mandates, ambitious emission reduction targets, and technological innovations are among the central themes shaping the trajectory of the sector this year. read more

Energy Outlook: Predictions Shaping the Energy Industry in 2024

In this article, we delve into the top predictions for energy in 2024, as voiced by prominent figures within our network. These predictions not only reflect the current state of the industry but also anticipate its future direction. read more

From NOC to NEC – A changing of the guard?

It may seem as if the NOCs time as pure O&G players may be limited, but they are certainly not leaving the game. Oil and gas will remain central to energy security throughout the developing world and across much of the developed world, in industrial settings at the very least. What can be said with some certainty, is that a diverse energy mix that includes significant renewable generation is crucial to the mandate of NOCs to supply affordable and consistent energy to their population. read more

6 Months On – How Has Biden's Presidency Impacted The South American Oil & Gas Industry

Latin America has historically been the recipient of vast attention by successive US administrations, seeing the South American nations as proxies to fight international disagreements. Yet in recent years, their regional neighbours have fallen down the pecking order of foreign policy concerns, even more so under former President Trump’s isolationist ‘America First’ policies. In lieu of direct US-influence, corporate actors have been lobbying South American governments to expand and liberalise their energy sectors with the intention of developing competitive markets in the natural gas and renewable energy generation sectors. read more

Upcoming Webinar: Examining Energy Stakeholder Perceptions of the Super Major Landscape

The partnership will provide a series of four major studies examining stakeholder sentiment towards energy majors and smaller players and measure their performance in the transition towards the provision of cleaner energy and stronger corporate governance.. read more

Emissions Trading Schemes, A Global Perspective

The Energy Council takes a look at how Emissions Trading Schemes are being implemented to reduce the impact of emissions within big industry, in regions and countries across the globe. read more

In The News: The United Kingdom's Path to Net-Zero in the North Sea

A report by the OGTC & Wood Mackenzie highlights the array of opportunities in the United Kingdom's path to decarbonisation & net-zero. The United Kingdom Continental Shelf in the North Sea has long been a prominent location for the exploration and production of oil and gas. However, as the nation pushes toward carbon neutrality by 2050, how will these competing industries develop? read more

In The News: OGCI Reports Significant Progress On Upstream Methane and Carbon Intensity Targets

The OGCI announced significant progress in reducing both carbon dioxide and methane emissions in the upsteam sector. Industry collective invests over a billion dollars into emissions reductions technologies. read more

The IOC Tracker – mid-term scorecard (2020)

It is increasingly important to see what lies behind oil companies’ stated transition strategies, which have seen a step change in investment allocations since 2018. We reflect on how the IOCs are tracking with their energy transition goals so far in 2020. read more

Why it’s hydrogen’s time to take off

Electrification, renewable energy and energy storage will get us part of the way through the energy transition. However, even with such a rapid deployment of solar and wind, electrification can’t do everything. We need something else to fill that gap. read more

38% of UK energy sector still all-male at board level says PwC

We take a look at how the energy sector is progressing with regards to gender diversity and representation at board level read more

The energy sector of the future

Who will make money in the energy business of the future, and who will fade from the scene? Politics and regulation certainly matter, but how much? What will the global energy system of 2030 or 2050 look like? read more