Defund

totalenergies

Seule la finance a le pouvoir d’empêcher le désastre TOTAL

Defund

totalenergies

Finance can stop TotalEnergies’ climate-wrecking strategy.

TOTALENERGIES PURSUES A CLIMATEWRECKING 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 RESPONSIBILITY

Behind TotalEnergies are banks, insurers, and investors. Despite the projections of the International Energy Agency (IEA) and their own climate commitments, they provide the financial services that the French major needs to deploy a climate-wrecking 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 the communities suffering the impacts on the front line of the projects developed by TotalEnergies, we call on financial players to end their complicity in the French major’s activities. Instead, they must use all the means at their disposal to compel TotalEnergies to adopt a real climate plan, based on science, and designed to reduce its hydrocarbon production.

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 US$ millions – between 2021 and 2023

BNP Paribas: 2,041
Crédit Agricole: 1,338
Société Générale: 1,213
SMBC Group: 946
Citi: 922

Top 5 European investors supporting TotalEnergies

Investment in US$ billions in TotalEnergies – as of May 13, 2024.

Crédit agricole*: 14.5
Blackrock: 10.7
Vanguard: 6
Capital group: 4.7
Norges Bank*: 4.5

*Credit Agricole Group includes its subsidiaries: Amundi, CA Indosuez, CPR AM and the shares of the TotalEnergies’ Corporate Investment Fund (FCPE), managed by Amundi. Norges Bank: Norges Bank Investment Management.

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.