Defund
totalenergies
Seule la finance a le pouvoir d’empêcher le désastre TOTAL
Defund
totalenergies
Finance can stop TotalEnergies’ climate-wreacking strategy.
TOTALENERGIES PURSUES A CLIMATE–WRECKING STRATEGY
Despite the recommendations of the Intergovernmental Panel on Climate Change (IPCC) scientists, TotalEnergies continues to develop new oil and gas projects around the world. These projects pose a threat to our chances of limiting global warming to +1.5°C, destroy ecosystems, and have a negative impact on frontline local communities.
BANKS AND INVESTORS HAVE A RESPONSABILITY
Behind TotalEnergies, there are banks, insurers, and investors. Contrary to the projections of the International Energy Agency (IEA) and their own climate commitments, these financial institutions provide the necessary financial services for the French major to implement a climate-destructive strategy. The only hydrocarbon fields that TotalEnergies intends to develop in the short term will contribute to emitting approximately 2.3 gigatonnes of CO2e, equivalent to what France emits in 6 years.
We have the power to stop them
In solidarity with communities on the frontlines of the impacts caused by projects developed or being developed by TotalEnergies, we call on financial actors to no longer be complicit in the activities of the French major. Instead, they must utilize all means at their disposal to compel TotalEnergies to adopt a genuine climate plan based on scientific evidence, aiming to reduce its hydrocarbon production.
TotalEnergies’ oil and gas projects under development around the world
TotalEnergies is pursuing an oil and gas expansion strategy in all four corners of the world: shale gas in Argentina, offshore drilling in Senegal and South Africa, liquefied natural gas (LNG) terminals in Mozambique and Papua New Guinea, the new oil and gas projects planned by the French major are numerous.
TotalEnergies is the 7th largest global developer of oil and gas production projects and the 12th largest global developer of LNG terminals. Far from allocating its enormous profits – US$19 billion in 2022 – to renewable energy deployment, TotalEnergies prioritizes its shareholders and fossil fuels above all else. Oil and gas will continue to account for over two-thirds of the company’s expenditures in the coming years.
Sources:
Urgewald, Global Oil & Gas Exit List, 2022
Reclaim Finance, Assessment of TotalEnergies’ climate strategy, April 2023
TotalEnergies’ developping fields
LNG Assets
Presence of TotalEnergies’ existing fields
they testify against totalenergies
John Beard
We can’t let this happen and not protect the planet. The future of humanity is at stake! By wanting to develop liquefied natural gas, Europe is jeopardizing the lives of our communities but also those of all the inhabitants of this planet. These gas projects can have considerable impacts on the populations, the environment and the climate… and this everywhere in the world. The impacts of climate change know no boundaries.
Founder and leader of the Port Arthur Community Action Network
Moustapha Faty
We say no to the exploitation of oil and gas in Senegal. Not only is it done for purely mercantile and essentially foreign interests, but it also has disastrous consequences on our living environment.
Coordinator of the Network for the Defense of the Environment of Fogny
Peter Bosip
Many communities in the islands of Papua New Guinea are already underwater due to sea level rise. Oil, gas and coal must stay in the ground.
Director of the Center for Community Rights and Environmental Law
Hilda Flavia Nakubuye
At a time when our biodiversity is going extinct, when climate disasters are worsening, this project will create a new source of carbon emissions that will either prove financially unsustainable or produce unacceptable climate damage. Economic interests put the lives of millions of people at stake.
Activist against the EACOP project
The financial players supporting TotalEnergies
Which banks and investors are behind TotalEnergies’ oil and gas expansion?
Whether they directly finance new projects or provide financial services to the company – for example by lending money, issuing bonds to seek finance on the markets, or buying these bonds – banks and investors provide crucial support to the French major. Without them, TotalEnergies would not be able to maintain its operations, let alone develop new projects. Investors, as shareholders with voting power at shareholders’ meetings, also play an important role in the continuation of its fossil fuel business model.
Top 5 European banks supporting TotalEnergies
TotalEnergies funding in millions US$ – between 2016 and 2022
Top 5 European investors supporting TotalEnergies
Investment in millions US$ in TotalEnergies – as of May 15, 2023.
To stop Totalenergies’ climate-wrecking strategy, let’s call on the financial players to act!
Without financial support, TotalEnergies would not be able to deploy its climate-wrecking strategy.
Several of TotalEnergies’ lines of financing will expire in the coming months. The time to act is now! Banks and investors must make their participation in future transactions conditional on a commitment by TotalEnergies to stop developing new oil and gas projects. The company is holding its annual general meeting on May 26. Several crucial resolutions will be submitted to a shareholder vote.They should vote against the company’s management and its phoney climate plan and instead support the climate resolution that calls on TotalEnergies to actually reduce its emissions by 2030.
