Sustainability Report: TotalEnergies ‘on Track’ for Targets
The multinational energy and petroleum company TotalEnergies has published a detailed report outlining its sustainability and climate progress.
The Paris-headquartered business released its Sustainability & Climate – 2024 Progress Report, which shows a 34% reduction in Scope 1 and 2 emissions from operated oil and gas facilities since 2015.
It also reveals a 47% reduction in methane emissions on operated facilities in 2023 against 2020.
Patrick Pouyanné, Chairman and CEO, TotalEnergies, said: “Anchored on two pillars – hydrocarbons, especially LNG on the one hand, and integrated power, the energy at the heart of the energy transition, on the other hand – the company is building a strong position to support the energy transition of its customers.
“In 2023, we have reduced our emissions by 24% across all our operated sites compared with 2015, with a 34% reduction for our operated oil and gas production, refining and liquefaction sites. These results support our objectives for 2030 (40% net reduction).”
Patrick added: “Methane emissions from our operated sites, already among the lowest in the sector, have fallen by more than 47% compared with 2020.
“We are on track to reach our -50% target a year ahead of our 2025 target, aiming for zero methane emissions by 2030 (-80% target).”
A press statement from TotalEnergies said the report outlines its ‘achievements in terms of emissions reductions and its contribution to a just, orderly and equitable energy transition for all its stakeholders’.
In gas, the company estimates that its LNG sales contributed to avoiding about 70 Mt of CO2e emissions worldwide in 2023.
A major player in energy transition
In electricity, TotalEnergies said it invested more than US$5bn in 2023 in low-carbon energies, essentially in electricity.
It said: “Contributing to building a profitable and differentiated integrated power business, which will both become a cash engine for the company and reduce the emissions resulting from the use of energy products sold to its clients: the lifecycle carbon intensity of energy products sold by TotalEnergies to its customers for final use was 13% lower in 2023 compared to 2015, and is on track to meet the objective of -25% by 2030.”
The company added: “Thanks to these achievements, TotalEnergies confirms its ambition to become a major player in the energy transition, committed to carbon neutrality in 2050, together with society.”
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