Greenhouse gas (GHG) emissions are one of the main causes of rising global warming, and the oil and gas industry contributes to one-third of world emissions. CO2, methane, and NOx gases make up a large portion of greenhouse gases emitted by burning oil, fossil fuels, and other sources. Due to rising GHG emissions from companies, it became important among major contributing sectors to report gas emissions during their operations.
TotalEnergies SE (TotalEnergies), is an integrated global multi-energy company that generates energy from natural gas, oil, biofuels, and renewables. Total GHG emissions reported by the oil & gas company were 446 million tonnes CO2 equivalents (MtCO2eq) in 2021, which increased by 1.1% from 2020. The oil and gas company aims to achieve sustainable development goal 7 (SDG 7), access to affordable, reliable, sustainable, and modern energy for all, by 2030 and net-zero by 2050 in alignment with the goal of the International Energy Agency (IEA).
GHG emissions are generally classified into Scope 1,2 & 3 emissions. Scope 1 emissions are direct GHG emissions that occur from sources that are owned or controlled by the company. Scope 2 (Indirect GHG emissions) accounts for GHG emissions from the purchased or acquired electricity, steam, heat, and cooling by the company. Scope 3 is the other indirect emissions result of the company’s activities, but they come from sources that the company does not own or control.
Scope 3 emissions form the major portion of TotalEnergies’ total GHG emissions, accounting for around 92% of total GHG emissions in 2021. The company’s Scope 1 emissions have reduced by around 10.5% to 34 MtCO2eq and Scope 2 emissions have decreased by around 33% to 2 MtCO2eq in 2021.
TotalEnergies is working on new energy such as geothermal, solar, wind, biofuels, biogas, and hydrogen to promote clean energy and reduce GHG emissions. In 2021, the company has increased its investment in electricity and renewables by 25% and planning to invest more than $60 billion in renewable energy by 2030.
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