• Company says climate strategy may be adjusted as global transition lags

• Strong oil and gas demand continues to shape its outlook

• No new targets announced despite rising emissions and industry-wide shift

TotalEnergies said it may revise its climate strategy as the global energy transition moves more slowly than expected, underscoring growing tensions between long-term climate goals and current energy demand.

In a report published March 26, the French energy group said its plans would need to be “reassessed and adapted over time.” While reaffirming its commitment to reaching net zero emissions by 2050, the company noted that this target must now be aligned with the realities of the global energy system, where demand for oil and gas remains high.

“The global energy system has begun its transition, but our societies and economies are not yet moving at the pace required,” the company said. It added that a scenario outlined by the Intergovernmental Panel on Climate Change (IPCC), which offered a 50% chance of limiting global warming to under 2°C, is now considered unattainable.

TotalEnergies also pointed to external factors shaping the transition, including public policy, technological progress, and consumer behavior.

While the company supports a gradual adjustment of emissions reduction pathways, it has not introduced any new targets or updated timeline at this stage.

In 2025, total emissions linked to its operations and the use of its products reached 368 million tons of CO₂ equivalent. The company noted that most of these emissions fall under “scope 3,” meaning they come from the use of products it sells. At the same time, TotalEnergies said it continues to expand its electricity and renewable energy businesses.

A broader shift across the industry

TotalEnergies’ position reflects a wider trend among major energy companies, based on disclosures released between 2025 and 2026.

BP said in a February 2025 investor presentation that it would maintain investment in low-carbon energy while continuing to develop its oil and gas business to meet global demand.

Italy’s Eni outlined a similar approach this month during its Capital Markets Update, combining hydrocarbon growth with a gradual expansion into energy transition activities, guided by market conditions and energy needs.

In the United States, ExxonMobil said in December 2025 that it is strengthening its strategy through 2030, including plans to increase hydrocarbon output while continuing targeted investments in emissions reduction solutions.

Abdel-Latif Boureima