The world will not be able to reach carbon neutrality by 2050 as outlined in the Paris Agreement, French oil major TotalEnergies said on Thursday, and the company will have to adapt its own climate ambitions as a result.
Total had previously said it had an ambition to be carbon neutral by 2050 in line with society.
The goals outlined in the 2015 Paris Agreement to limit global warming require a significant drop in carbon emissions by 2050, which can only be achieved by weaning key systems off oil and gas consumption.
“We cannot adopt a net zero transition plan according to the European regulations (to meet the Paris Agreement), because such a plan in the European regulations must be aligned with 1.5 degrees (of warming) and scientists say 1.5 degrees is out of reach,” said Aurelien Hamelle, president of sustainability and strategy.
Total did not immediately respond when asked whether this means it is still working on new 2050 net zero targets or abandoning the idea altogether.
Other European oil majors BP and Shell aim to bring the carbon intensity of the products they sell to zero by 2050, but have also said that the pace at which society transitions away from hydrocarbons would be an important factor.
