Clarification: Total responds to Reclaim Finance and Greenpeace

PARIS–(Company WIRE)–Regulatory Information:

Overall (Paris:FP) (LSE:TTA) (NYSE:TOT):

Full took take note of the report: “Total fait du sale: La finance complice?” posted by Reclaim Finance and Greenpeace. Provided quite a few inaccuracies and falsehoods in the report, Complete delivers the next clarifications dependent on files posted by Whole, like Total’s May possibly 5, 2020 press release on Local climate Ambition, Total’s 2020 Local climate Report and Total’s September 2020 and February 2021 investor displays.

1) Carbon neutrality ambition at a all over the world degree

Firstly, though the report seeks to downplay the Local climate ambition expressed by Overall in its press launch of May perhaps 5, 2020, it is valuable to recall the 1st sentence of this press launch : «Full announces today its ambition to get to internet-zero emissions by 2050 jointly with society for its global organization throughout its creation and electrical power products and solutions applied by its customers».

2) Ambition to cut down scope 3 emissions at a globally level

(web page 12) «Total SE does not provide any absolute emissions reduction goal outdoors Europe » – The report of Reclaim Finance and Greenpeace presents a graph that initiatives Total’s scope 3 emissions would enhance from 410 MT in 2015 to 500 MT in 2030. – Phony

Quoting the 2020 Local climate Report, web site 16: “For those scope 3 emissions, the Group is placing new 2030 targets: In Europe, a 30% reduction in absolute emissions from 2015 levels – a big phase toward neutrality by 2050. Worldwide, a reduction in complete emissions from 2015 degrees, in spite of the predicted growth in consumer vitality desire above the ten years to come”.

Complete has thus dedicated that around the globe scope 3 oblique emissions in 2030 will be lower compared to 2015 – this is a international emissions target that will not enhance as the report by Reclaim Finance and Greenpeace incorrectly offers, but reduce. Complete is the only significant to have built these kinds of a dedication for an complete reduction by 2030. This dedication is notably produced possible by the 30% reduction target in scope 3 emissions in Europe by 2030, or much more than 75 MT/yr.

3) Ambition for carbon neutrality and emissions reduction at European amount

(website page 11) « Complete SE operates in 130 nations around the world and only 13% of Whole SE’s 2019 creation, and corresponding scope 3 emissions, come from Europe, wherever the Group has dedicated to lessening the 3 scopes to zero. » – Wrong

Quoting all over again page 16 of Total’s Climate 2020 report applied as a reference by Reclaim Finance and Greenpeace: «Europe accounts for all over 60% of Total’s scope 3 emissions». Opposite to the declare produced by the authors, who feel to want to confuse Total’s manufacturing in Europe (indeed 13% of its global creation) and Total’s gross sales in Europe, scope 3 oblique emissions of Total’s customers in Europe do not depict 13% of emissions but 60% of Total’s customers’ emissions, or 256 MT out of 410 MT in 2015 (scope 1+2+3 world-wide emissions in Europe signify 280 MT of 456 MT): Indeed it is the totality of these scope 1+2+3 emissions in Europe that carry the dedication of Total’s carbon neutrality at the amount of Europe in guidance of the Environmentally friendly Offer and the ambition of the continent.

4) Ambition to reduce carbon intensity at a around the globe stage

(webpage 16) « This ambition is all the more inadequate considering the fact that Total SE only will take into account the emissions connected to the combustion of the merchandise marketed to its clients, as a result knowingly forgetting (sic) the emissions connected to the generation and refinery or liquefaction operations, which represent up to 15% of its overall emissions. » – Wrong

Complete includes the emissions associated to production functions in its carbon intensity indicator as explicitly talked about in Total’s push launch dated May well, 5, 2020, to which Reclaim Finance and Greenpeace refer however: « 60% or additional reduction in the common carbon depth of vitality items made use of around the globe by Total consumers by 2050 (less than 27.5 gCO2/MJ)- with intermediate steps of 15% by 2030 and 35% by 2040 (scope 1+2+3) ». The 1+2 scopes, which correspond to emissions relevant to Total’s functions, are hence nicely contained in this ambition. The definition of the carbon intensity indicator is also on web page 17 of the Total’s 2020 Climate Report: «The indicator measures the average GHG emissions of these products and solutions per unit of strength throughout their complete everyday living-cycle, from the time they are developed to their stop use.” Also, as announced in the May perhaps 5, 2020 press release, Total has set an aim of web zero emissions throughout Total’s globally operations by 2050 or faster (scope 1+2) and announced in February 2021 the goal of minimizing scope 1+2 emissions from international oil&gasoline functions by 40% by 2030 compared to 2015.

In summary, while Whole respects the debate and the distinctive views of various stakeholders and accepts that some NGOs may contemplate that the company’s initiatives are not ample, it is the everyone’s obligation, in a environment the place false information is a resource of expanding mistrust, that general public communications should be guided by a worry for the real truth. This is all the far more legitimate in terms of interaction relating to mentioned firms, considering the fact that the deficiency of sincerity is probable to mislead buyers, since the Autorité des Marchés Financiers ensures compliance with the policies applicable in this space.

About Complete

Whole is a broad strength corporation that generates and markets fuels, purely natural gas and energy. Our 100,000 personnel are fully commited to improved strength that is extra very affordable, far more reputable, cleaner and accessible to as several persons as probable. Active in far more than 130 international locations, our ambition is to turn into the liable vitality important.

Cautionary Be aware

This press launch, from which no authorized penalties may be drawn, is for information functions only. The entities in which Total SE immediately or indirectly owns investments are different authorized entities. Total SE has no liability for their acts or omissions. In this document, the conditions “Total”, “Total Group” and Group are often utilized for benefit. Similarly, the words “we”, “us” and “our” may possibly also be applied to refer to subsidiaries in general or to individuals who operate for them. This document may well comprise forward-hunting information and statements that are primarily based on a number of financial information and assumptions manufactured in a offered financial, competitive and regulatory surroundings. They may possibly demonstrate to be inaccurate in the future and are issue to a variety of hazard factors. Neither Whole SE nor any of its subsidiaries assumes any obligation to update publicly any ahead-searching facts or assertion, goals or trends contained in this document whether as a result of new data, upcoming occasions or otherwise.