TotalEnergies will reassess its 2050 net-zero plans due to the slow energy transition

TotalEnergies, a French oil major, said that the world would not be able reach carbon neutrality by 2050, as stated in the Paris Agreement. As a result, the company's climate goals will have to change.

Total has previously stated that it aims to be carbon neutral in 2050.

To achieve the goals of the Paris Agreement 2015 to limit global climate change, a significant reduction in carbon emissions is required by 2050. This can only be accomplished by weaning critical systems off oil and gas.

TotalEnergies' annual sustainability report stated: "We must confront our ambitions with reality, and acknowledge that?our societies?have embarked on the transition but at a rate that?does not allow for the collective attainment of carbon neutrality, as pursued by the Paris Agreement?."

"Our ability to achieve CO2 neutrality with society depends on technical innovation, public policy and consumer choices. This means that the pathways towards our carbon neutrality goal must be constantly reevaluated and adapted to the changes in the global energy system."

Other European oil giants BP, Shell and Total aim to reduce the carbon intensity of their products to zero by 2050. However, they have said that the speed at which society transitions from hydrocarbons will be an important 'factor.

TotalEnergies stated that the company was not in a position where it could adopt a "transition plan" as defined by the European reporting standard and as a consequence, they were unable to formulate "Net Zero" targets within the meaning of the standards.

The French oil giant emitted 368 million tons of CO2 equivalent in 2025. Most of these emissions were Scope 3 emissions, which are those from customers burning fuels they purchased. This is a decrease from the 376 million tons of CO2 equivalent in 2024, and within the company's goal to keep emissions below 400 million tons by 2030. Forrest Crellin reported from Paris, Shadia Naralla in London and Gdansk Newsroom. Susan Fenton edited.

(source: Reuters)