Total said today:
- Following a detailed analysis of the climate positions of the American Petroleum Institute, Total announces its decision not to renew its membership for 2021.
Patrick Pouyanné, CEO of Total, said:
- The Group acknowledges the API’s considerable contribution, for over a century, to the development of our industry.
- Nevertheless, as part of our Climate Ambition made public in May 2020, we are committed to ensuring, in a transparent manner, that the industry associations of which we are a member adopt positions and messages that are aligned with those of the Group in the fight against climate change.
- regarding the role of natural gas, API maintains its support for the rollback of U.S. regulation on methane emissions, which Total opposed in November 2019;
- regarding transport decarbonization, API is part of the Transportation Fairness Alliance, which is opposed to subsidies for electric vehicles;
- regarding the carbon pricing principle, API expresses differing positions to those of Total.
As a result, Total will increase its investments in renewables and electricity by $1 billion. When it comes to oil projects, Total will focus on low-cost projects and favour value over volume.