Total eyes carbon neutrality by 2050

French energy giant Total SA (EPA:FP) on Tuesday unveiled plans to achieve net-zero emissions by 2050 and confirmed its commitment to continue its renewable energy expansion.

Total aims at achieving net zero emissions across its global operations by 2050 or sooner, while also reaching net zero across all its production and energy products used by its customers in Europe by 2050 at the latest.

In addition, by then the company will also be looking to cut the average carbon intensity of energy products used by its customers around the world by 60% or more, including a 15% reduction by 2030 and a 35% cut by 2040. In this respect, Total has already achieved a 6% reduction in its scope 3 average carbon intensity since 2015 and is now setting a target of less than 27.5 gCO2/MJ by 2050.

Total said it continued to aim at achieving 25 GW in renewable generation gross capacity in 2025 and announced plans to increase its allocation of capital expenditure to low carbon power to 20% by 2030 or sooner from over 10% currently.

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