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Energy is indeed reinventing itself, and so are we, by leveraging our skills and global presence to provide more energy, reduce emissions and be ever more sustainable.
Patrick Pouyanné
Chairman and Chief Executive Officer of TotalEnergies
Dear Shareholders,
The Investor Days on September 27 and 28 marked a turning point for our Company. It was the first time we presented our strategy and perspectives under our new name, TotalEnergies, and logo.
Just a year ago, we were coping with a deep crisis with many uncertainties on three fronts. Oil prices, which have turned around for now, the global pandemic, which is on its way to being resolved, and climate change, which is still a major concern.
A year later, after weathering the storm and emerging stronger, while keeping the trust of our shareholders, we are moving toward achieving our sustainable development ambitions for a fair energy transition and a carbon-neutral future. We have a strong conviction – the world is changing fast, which means that we must evolve with it and rapidly seize opportunities to grow the Company in new areas.
Energy is indeed reinventing itself, and so are we, by leveraging our skills and global presence to provide more energy, reduce emissions and be ever more sustainable.
Our ambition is to be a leader in the energy transition and to play a positive role for society and the environment, i.e. to produce more energy with fewer emissions:
- More energy from renewable electricity and natural gas, in particular from Liquefied Natural Gas, which plays a key role in the energy transition, confirmed by the growing demand (more than 10% per year for the last 7 years).
- Fewer emissions, as our ambition is to achieve Net Zero with society by 2050, for both our Scope 1 and 2 emissions from our worldwide operated activities, but also for Scope 3 emissions from our customers, generated by the use of energy products we sell them.
We are transforming the Company to create long-term value for our stakeholders, and this transformation combines the energy transition and shareholder return. Our strategy is a balanced approach that takes full advantage of the assets and expertise we have accumulated to generate significant cash flow and continue to enhance our expertise in new energies, by becoming one of the top five renewable power producers in the world by the end of the decade and from there, develop our mix to include biofuels, hydrogen and synthetic fuels.
There is enthusiastic support within TotalEnergies for this profound transformation we are currently undergoing.
We are benefiting from an environment today that is fast-moving and dynamic, with economies picking up and oil and gas prices rebounding to achieve record highs, particularly in Asia and in Europe.
We are committed to sharing the surplus of revenues, generated by a $60 barrel, with our shareholders.
Our outlook for strong sustainable cash flow growth in a constant environment, supports future dividend increases over the coming years.
As the Company’s 100-year anniversary approaches, we are confident in its future and in the fact that one day, we will see its second centennial celebration.
Thank you for your loyalty.
Patrick Pouyanné
Chairman and Chief Executive Officer of TotalEnergies