French energy giant Total has opted not to continue being a member of the American Petroleum Institute (API), expressing differences of opinion over climate change.
” Following a detailed analysis of the climate positions of the American Petroleum Institute, Total announces its decision not to renew its membership for 2021,” Total said today.
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”.
The list of divergences between Total and API, as shared by the company:
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.
Total is working to transform itself into a broad energy company as part of its efforts to become a leader in the renewable energy sector and get to net-zero by 2050.
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.