Total Withdraws From the American Petroleum Institute
January 15 2021 - 8:37AM
Business Wire
Regulatory News:
Following a detailed analysis of the climate positions of the
American Petroleum Institute (API), Total (Paris:FP) (LSE:TTA)
(NYSE:TOT) announces its decision not to renew its membership for
2021.
Each year, Total assesses the main industry associations of
which it is a member to ensure they are aligned with the Group’s
climate positions. This alignment review is based on six key
points:
- our science-based position that the link between human activity
and climate change is an established fact,
- our support for the objectives of the Paris Agreement,
- our belief in the necessity to implement carbon pricing,
- our confidence in the key role that natural gas plays in the
energy transition,
- our support for policies and initiatives that promote the
development of renewable energy, and
- our support for the development of CO2 capture and
storage.
These items are detailed in the Getting to Net Zero report
issued in September 2020.
Following the 2019 and 2020 reviews, API's positions were
assessed as "partially aligned" with those of the Group. Certain
divergences, which have been discussed within the association,
remain today:
- regarding the role of natural gas, API
maintains its support for the rollback of U.S. regulation on
methane emissions, which the Group 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.
Moreover, API gave its support during the recent elections to
candidates who argued against the United States’ participation in
the Paris Agreement.
"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", said Patrick Pouyanné, Chairman and CEO of
Total. "This transparency responds to our stakeholders'
expectations, as well as being an essential guarantee of the
credibility of our strategy."
***
About Total
Total is a broad energy company that produces and markets fuels,
natural gas and electricity. Our 100,000 employees are committed to
better energy that is more affordable, more reliable, cleaner and
accessible to as many people as possible. Active in more than 130
countries, our ambition is to become the responsible energy
major.
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