Company – ActiveThis profile is actively maintained
Company – ActiveThis profile is actively maintained
Why this profile?
TotalEnergies is an oil and gas supermajor: Its 2020 income ranked seventh among the world’s oil and gas companies. It is one of the 20 fossil fuel companies responsible for more than one-third of the modern era’s total carbon emissions. Associated with countless controversies and involved in many Dodgy Deals, TotalEnergies is actively contributing to climate breakdown.
What must happen
Banks and other financial institutions must demand that their fossil fuel major clients immediately halt all activities that expand fossil fuel infrastructure, and develop and implement credible phase-out plans for their existing fossil-fuel-based activities, on a timescale aligned with Paris Agreement goals. In the absence of such commitments, banks must stop servicing these clients.
|Tell Total's funders: #TotalKnew: cut them off|
|Sectors||Oil and Gas Extraction , Gas Electric Power Generation, Pipeline Transportation of Crude Oil, Pipeline Transportation of Natural Gas|
listed on Euronext Brussels, Euronext Paris, London Stock Exchange & NYSE
TotalEnergies's shareholding structure can be accessed here.
TotalEnergies is a French multinational integrated oil and gas company. Founded in 1924, it is one of the largest oil and gas companies in the world. Its businesses cover the entire oil and gas chain, from the exploration and production of crude oil and natural gas, to power generation, transportation, refining, petroleum product marketing and the trading of international crude oil and products. In May 2021, the company changed its name from 'Total' to 'TotalEnergies' with the intention of illustrating its investments in the production of green electricity. On December 31st 2021, TotalEnergies' assets amounted to USD 293.4 billion.
Impact on human rights and communities
TotalEnergies has been involved in numerous cases of corruption, underpaying staff, violating human rights and other social impacts.
Mass forced resettlements in the name of TotalEnergies’ interests include the East African Crude Oil Pipeline, of which TotalEnergies E&P owns 62%. The construction of this project will necessitate the resettlement of local communities and the reclamation of private land, which will endanger livelihoods.
Alleged human rights abuses in Uganda led six NGOs to bring a lawsuit against TotalEnergies in October 2019. TotalEnergies’ oil drilling operations in Lake Albert and Murchison Falls – a protected natural park in Uganda – were investigated for two years. The operation includes a 1,445 kilometre-long oil pipeline, impacting local communities. The investigation revealed serious violations of and threats to human rights, including land-grabbing and intimidation. The case rested on France's new Duty of Vigilance law, which compels TotalEnergies to meet its human rights obligations for the project.
The militarisation of regions has been one consequence of TotalEnergies’ joint Mozambique LNG Project. This gas enterprise has drawn the attention of militants, some of whom killed eight TotalEnergies subcontractors in July 2020. The attack contributed to a surge in the area’s militarisation.
The violation of Indigenous rights has been a consequence of the Vaca Muerta Shale Basin project. Argentina’s Vaca Muerta Shale Basin is one of the largest shale oil and gas reserves in the world and TotalEnergies is helping to exploit it. As a result, public health, the safety of workers, air quality, the ancestral lands of Indigenous people and the likelihood of earthquakes are all being negatively affected.
TotalEnergies’ Wikipedia page has an overview of the company's numerous controversies.
Impact on climate
An historically significant contributor to climate change, TotalEnergies' CO2 emissions between 1965 and 2017 amount to 12.35 billion tonnes, according to the Climate Accountability Institute. This makes TotalEnergies one of the world’s largest contributors to the adverse impacts of climate change.
Greenwashing is obscuring TotalEnergies’ lack of commitment to mitigating climate change. Total rebranded as TotalEnergies in 2021 to illustrate its investments in the production of green electricity, but its business plans are nowhere near being Paris-aligned. According to 2022’s Big Oil Reality Check report, TotalEnergies’ climate pledges and plans are ‘grossly insufficient’. The report noted that the company has no stated end-date for fossil fuel production, as well as multiple, conflicting sets of emissions reduction targets. In 2021, the International Energy Agency (IEA) stated “there is no need for investment in new fossil fuel supply in [their] net zero pathway” if the world is to reach net-zero by 2050; TotalEnergies continues to pour most of its investments into new fossil fuel projects, with the only stipulation being that they must emit lower-intensity greenhouse gases than TotalEnergies’ portfolio average.
TotalEnergies' operations were responsible for 41 million tonnes of greenhouse gas emissions in 2019. TotalEnergies' oil and gas exploration activities suggest this is set to continue.
Qatar's oil and gas fields TotalEnergies signed an agreement with QatarEnergy to increase the extraction of gas from Qatar's North Field, the biggest non-associated gas field in the world and one of the world's largest carbon bombs. TotalEnergies is a shareholder in North Field East and North Field South. If all the reserves of Qatar's oil and gas fields are burned this will lead to an additional 50 gigatonnes of CO2 emissions. These emissions will lead to USD 20 trillion in economic damage and 11 million people dying prematurely. These deaths will most likely take place in poor, marginalised and/or Indigenous communities who bear very little responsibility for causing the climate crisis.
Investing in pro-fossil fuel lobbying means that TotalEnergies is actively trying to rein in pro-climate momentum. The company is no longer a member of the American Fuel and Petrochemical Manufacturers' group, but in 2019 TotalEnergies spent about USD 30 million on lobbying to delay, control or block policies to tackle climate change. As of May 2022, TotalEnergies had not committed to stop lobbying or making adverts that obstruct climate change solutions.
The 2022 Banking on Climate Chaos (BOCC) report shows that from 2016-2021, 31 commercial banks provided TotalEnergies with USD 51.3 billion in lending and underwriting services. (Please note that these BOCC figures are adjusted for the percentage represented by fossil fuel activities in TotalEnergies' overall business, which is approximately 92%).
On 7 April 2022, 12 commercial banks validated a new, USD 8 billion revolving credit facility for TotalEnergies. See below for more details on banks involved.
East African Crude Oil Pipeline (EACOP)Uganda
East African Crude Oil Pipeline (EACOP)
Mozambique shows how JPMorgan Chase and other banks back war and climate chaos
Gaz de schiste : pourquoi la France a dû retourner sa veste
Throwing fuel on the fire: GFANZ members provide billions in finance for fossil fuel expansion
How does drilling for oil in Uganda’s national park live up to China’s COP15 biodiversity pledge?
Qatar’s gas output increase could cause catastrophic global heating, report says
Exposed: Western banks funding Qatar’s carbon bombs
NGOs reveal the companies and financiers behind fossil fuel expansion in Africa
These U.S. banks are financing climate chaos through fossil fuel expansion
NGOs release the 2022 Global Oil & Gas Exit List
As banks fund oil pipeline, campaigners question their environmental pledges
‘Monstrous’ east African oil project will emit vast amounts of carbon, data shows
Nigeria LNG still producing, exporting despite force majeure
Call to Dutch investors: get out of TotalEnergies
From fisherman to refugee, in part thanks to ING
Report: East Africa pipeline ‘breaches banking principles’
TotalEnergies’ East African pipeline breaches international environmental and human rights standards
BankTrack hosts webinars on the 2022 Banking on Climate Chaos report
EU bank hands out billions to companies complicit in burning fossil fuels
Climate activists challenge Standard Bank’s plans to fund fossil fuel expansion in Africa
East Africa Crude Oil Pipeline: Fueled by RBC
Civil society groups react to U.S. backing of African oil pipeline EACOP, which could force 100,000 people from their lands
BNP Paribas and Société Générale: stop financing climate destruction and human rights abuses
Eyes closed, costs down, profits up
Civil society groups respond to reports that Deutsche Bank will not finance East African Crude Oil Pipeline
12 banks lend $8 billion to oil and gas expansionist TotalEnergies
Revealed: the ‘carbon bombs’ set to trigger catastrophic climate breakdown
Standard Chartered’s 2022 AGM dominated by shareholder alarm over fossil financing
Intesa Sanpaolo shareholders’ meeting
Uganda oil project casts shadow over Total’s eco-friendly image
UniCredit shareholders’ meeting: on climate ambition there is still a long way to go
TotalEnergies fired up to return to Cabo Delgado
Uganda Oil At Risk in Totalenergies Court Case
Climate Groups Press Banks, Asset Managers to Sever Russian Ties
Finance sector has moral imperative to exclude Russian fossil fuel firms
Italy freezes loan for Russian Arctic LNG 2 plant - sources
There is still a long way to go before EACOP reaches Financial Close, activists opposed to pipeline say
Total’s oil pipeline gets go-ahead from Ugandan MPs despite secret terms
Russia's Arctic LNG 2 agrees loans worth 9.5 billion euros
Total’s deal with Suriname: the greenwashing of oil Block 58
Investment money from banks and pension companies operating in Finland may have seeped into the Myanmar army - companies say they have now sold their holdings
NGOs release the first “Global Oil & Gas Exit List” at Glasgow COP
Mozambique LNG: no decision on project revival despite counter-insurgency successes in Cabo Delgado
Subvertising stunt sees spoof Santander ads in Glasgow bus stops, two days before COP26 begins in the host city
Spoof Santander posters appear across Glasgow ahead of COP26
Ugandans face serious human rights violations amid Total project
Activists arrested to silence criticism of Total's R52bn Ugandan project - watchdogs
Lobbies query World Bank's interest in EA pipeline
Uganda petition: demanding the immediate release of six staff members of our partner organisation AFIEGO in custody
Total accused of campaign to play down climate risk from fossil fuels
World Bank’s Back Door Support for East African Oil Pipeline Imperils the Planet, Complaint Alleges
Campaigners take action as part of Global Call to end Japan’s fossil fuel finance
TotalEnergies’ ‘sustainable’ debt: the investor trap
Banks and investors pouring billions into Arctic oil & gas bonanza despite climate pledges – report
Rwanda calls on firms to resume Mozambique LNG project
New bank links to Myanmar junta and atrocities found
Adani wants children to solve global warming while it makes things worse
Concerns raised over red tape at the East African crude oil pipeline project
Uganda’s Huge Fossil Fuel Venture Raises Fears of Environmental Damage
Another investor stalls on Mozambique citing security concerns
Pressure mounts on EACOP insurers amid carbon push
Uganda joins the rights-of-nature movement but won’t stop oil drilling
Plastic Waste Makers Index
UBS et Credit Suisse accusés d’investir dans des entreprises liées à l’armée birmane
Nine international banks invest over US$24 billion in companies linked to Myanmar regime and atrocities
စစ်ကောင်စီနဲ့ဆက်စပ်တဲ့ ကုမ္ပဏီ ၁၈ ခုမှာ နိုင်ငံတကာဘဏ် ၉ ခု ပါဝင်ပတ်သက်နေ
En Birmanie, des affaires qui risquent de ne pas faire les affaires des banques
Hundreds protest against TOTAL across Africa
Sigh of relief as Tanzania signs EACOP host agreement
Eacop’s financing blues as lenders desert $3.5b project
Leaders meet to thrash out security deal after Total declares force majeure in Mozambique
East Africa: Africa Doesn't Need the East Africa Crude Oil Pipeline
President Macron calls for accelerating construction of East African crude oil pipeline
Farmers, civil rights groups oppose Uganda’s oil project
Uganda approves Resettlement Action Plan for EACOP
Mozambique LNG project delayed by 'at least a year' due to security issues: Total
Gov’t not bothered about banks refusing to finance EACOP
Will East Africa pipeline see light of day before fossil fuel becomes extinct?
Pipeline project: Government approves resettlement plan
“My house is crumbling”: Living in limbo along the East Africa pipeline
Can Mozambique defend its crucial gas assets?
Total’s East African oil pipeline to go ahead despite stiff opposition
UK support for Mozambique gas plant fuelling conflict – Friends of the Earth
Insurgency threatens Mozambique’s historic natural gas investment boom
East Africa crude pipeline must stop: Letter to Museveni, Suluhu Hassan
Re:Common: “UniCredit breached its own coal policy and supports oil & gas expansion"
New report details the gendered and racial impacts of the fossil fuel industry in North America and complicit financial institutions
Not under our watch: Greenpeace Africa responds to East Africa Crude Oil pipeline deal
‘We cannot drink oil’: campaigners condemn east African pipeline project
Total sees first oil from Ugandan project in 2025
Total signs agreements with Uganda on East Africa oil project
More than half of Europe’s bank directors too compromised to end fossil fuel finance
Total gives assurance as banks threaten opt out of oil project
Thousands seek refuge at Total Mozambique LNG site after attack
Palma attacks: Total stops work at Mozambique LNG as workers and locals flee brutal assault by Islamist insurgents
East African Crude Oil Pipeline (EACOP) will disenfranchise local communities in Uganda and Tanzania (By Charity Migwi, Edwin Mumbere and Evelyn Acham)
Will the East African Crude Oil Pipeline really benefit all?
UK rules out public subsidy for East African oil pipeline
There’s $120 Billion at Stake in an Overlooked War in Mozambique
Insurgents in attack near Mozambique LNG site hours after Total said safe for workers' return
Total to resume Mozambique LNG work after security reinforced
Project financing confirmed for ONGC-OIL-supported Mozambique LNG project
Risky business: investment and insurgency in Mozambique
Total has target date for staff remobilisation to Mozambique LNG site
Standard Bank reviewing oil pipeline financing concerns
JBIC joins US$894 million loan pact for Mozambique LNG project
NGOs' pressure on banks threatens $3.5bn pipeline project financing
Mozambique, mercenaries accused of war crimes
263 ONG appellent les banques à ne pas financer la construction de l’oléoduc ougando-tanzanien
Más de 260 ONG piden a bancos no financiar un polémico oleoducto de África
Standard Bank targeted in appeal to avoid financing oil pipeline in East Africa
NGOs ask banks not to finance East African oil pipeline
In Brief: Nonprofits urge banks not to finance oil pipeline in East Africa
Organisations call on Standard Bank, others not to finance East African oil pipeline
Organizations aim to block funds for East African oil pipeline
Banks urged to steer clear of East Africa oil pipeline financing
South Africa's Standard Bank to assess 'way forward' on East Africa oil pipeline
Standard Bank to review ‘Way Forward’ on East Africa Oil Pipeline
Over 260 organisations call on banks not to finance Total’s East African Crude Oil Pipeline
Tanzania, Uganda in bid to help locals tap into $3.5billion pipeline project
Mozambique LNG project on track, Total confirms
After a Bruising Year, the Oil Industry Confronts a Diminished Future
Rating agency S&P warns 13 oil and gas companies they risk downgrades as renewables pick up steam
Adani to Raise $2.5 Billion From Green Deal With Total
Total reduces Mozambique LNG staff as rebels step up attacks nearby
Five years lost - How the finance industry is blowing the Paris carbon budget
Mozambique LNG security in spotlight again as insurgency creeps closer
Revealed: Government considering backing for oil pipeline project despite green pledges
EXCLUSIVE- Exxon and Total in talks over Mozambique LNG resource-sharing deal
Huge Total-led Uganda oilfield project hits fresh delays
Uganda-Tanzania pipeline runs into legal challenges
Crude Risk: Risks to banks and investors from the East African Crude Oil Pipeline
Cleaning Up LNG Becomes EU Target in Blow to U.S. Shippers
Going deep into Mozambique’s Cabo Delgado extremism
Oil company Total back in Court for human rights violations in Tilenga and EACOP projects in Uganda
Opinion: As the EACOP becomes a reality, affected communities decry delayed compensation
A call to action on the Principles for Responsible Banking: End climate-destructive financing now
Total taps Siemens Energy to supply Mozambique LNG turbines
Uganda oil start date in doubt despite crucial agreements
India’s BPCL to buy 1Mtpa from Mozambique LNG
Big Oil Reality Check: New paper finds 'failure across the board' in oil industry climate plans
Violence Creeps Toward $20B Mozambique LNG Project
Abusive arrests in Uganda : NGOs call for the immediate release of journalists and environmental defenders
USA’s DFC approves transactions to Mozambique totalling $1.7 billion
Islamists seize northern Mozambican islands: witnesses
Africa’s largest energy project faces a major terrorist threat
Islamic State-Linked Fighters Seize Mozambique LNG Port Town
Govt, oil companies in assets inspection ahead of signing deal
Total announces the signing of Mozambique LNG project financing
Oil giants slash reserves in nod to future warming
Mozambique: LNG Terminal Will Be Built in Matola
Militants Kill 8 Subcontractors On Total’s LNG Project In Mozambique
UK Export Finance set to back Total's $20 bln Mozambique LNG project
Total sees significant shareholder revolt over climate ambitions at AGM
Total shareholders reject motion to boost climate credentials
New report: Credit Suisse and UBS still enable a tremendous amount of CO2 emissions
Investors plan to push Total to do more on climate change
Total abuses in Uganda: French High Court of Justice declares itself incompetent in favour of the Commercial Court
Oil giant Total is being sued by cities and NGOs for not fighting climate change hard enough
French cities and NGOs sue oil giant Total over 'climate inaction'
Revealed: the 20 firms behind a third of all carbon emissions
Duty of Care: Total served formal notice for its activities in Uganda
Fund manager says Total ‘mistrusts’ tar sands debate as investors withdraw AGM resolution support
Vaca Muerta Basin: An Oil & Gas Trap
Assessment of East African Crude Oil Pipeline (EACOP) and Associated Facilities’ Compliance with Equator Principles and IFC Performance Standards - Chinese Translation
Assessment of East African Crude Oil Pipeline (EACOP) and Associated Facilities’ Compliance with Equator Principles and IFC Performance Standards
Letter from OCI, Kiko Network, 350Japan, RAN, CIEL to SMBC Board of Directors on EACOP
Letter from OCI, Kiko Network, 350Japan, RAN, CIEL to Sumitomo Mitsui Financial Group board of Directors on EACOP
The East African Crude Oil Pipeline (EACOP): Finance Risk Update No. 3
Japanese Bank Financing of the East African Crude Oil Pipeline (EACOP)
Crude Risk: Risks to banks and investors from the East African Crude Oil Pipeline - Chinese translation
Drill, baby, drill
Crude Risk: Risks to banks and investors from the East African Crude Oil Pipeline
(In French) Un Cauchemar nomme Total. Field research on human rights violations, linked to TOTAL's mega oil project in Uganda and Tanzania.
A Call to Action on the Principles for Responsible Banking: End Climate-Destructive Financing Now
Response headquarters Total to letter from Special Rapporteurs of the Human Rights Council
Gas in Mozambique: A windfall for the industry, a curse for the country
Total's mega oil project devastating communities in Uganda.
2021-05-28 00:00:00 | Total rebrands as TotalEnergies
During its 2021 AGM, Total rebranded to TotalEnergies to signal its diversification into renewable energy sources and electricity.