French oil major Total has rebranded itself as TotalEnergies. The decision was approved by the shareholders at the Ordinary and Extraordinary Shareholders’ Meeting unanimously.
The company says the resolution to change the name from Total to TotalEnergies, anchors its strategic transformation into a broad energy company in its identity encompassing oil and biofuels, natural gas and green gases, renewables and electricity. In tandem with this name change, TotalEnergies is adopting a new visual identity.
As part of its sustainability target the company aims to reduce its net carbon emission 25-30 MtCO2e by 2030 from 46 MtCO2e in 2015, and be carbon neutral by 2050. It plans to finance $60 billion (Rs 444,060 crore) in renewable projects over the next 10 years. TotalEnergies also aims to expand its EV charging stations from 21,000 at present to 150,000 by 2025.
Patrick Pouyanne, chairman and CEO, TotalEnergies said: “Energy is life. We all need it and it’s a source of progress. So today, to contribute to the sustainable development of the planet facing the climate challenge, we are moving forward, together, towards new energies. Energy is reinventing itself, and this energy journey is ours. Our ambition is to be a world-class player in the energy transition. That is why Total is transforming and becoming TotalEnergies.”