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TotalEnergies CEO Calls for Climate Action Amid Rising Oil Demand

Oil & Gas | Decarbonizing Oil & Gas Sector | Government Policies

  • TotalEnergies CEO Patrick Pouyanne emphasizes the urgency of climate adaptation with projected global oil consumption surpassing 100 million barrels per day by 2040.
  • Pouyanne notes that TotalEnergies invests $5 billion annually in renewable energy, yet the transition to a clean energy system remains slow.
  • The CEO calls for realistic policy actions, advocating adherence to the Paris climate targets amidst the challenges of rising temperatures and energy demands.
  • Achieving net zero emissions by 2050 necessitates a significant increase in renewable energy capacity and green investments globally.
  • Pouyanne highlights the reluctance of European banks to finance fossil fuel projects due to sustainability rules and climate litigation pressures, in contrast to U.S. lenders.
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Decarb Avenues

  • CO2 Capture & Storage
  • Corporate Carbon Management
  • Decarbonizing Oil & Gas Sector

Drivers

  • Investments
  • Government Policies
  • Leadership Moves

Stakeholders

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  • Investors
  • Government Officials