French company Total is rebranding to TotalEnergies as part of a major strategy to transition away from oil production and into renewable energy.
The rebranding was announced ahead of the latest UN Intergovernmental Panel on Climate Change (IPCC) report last week which called for urgent action by governments to rapidly cut the use of fossil fuels to avert climate breakdown.
Under its new branding, TotalEnergies will commit to increasing its capital spending in solar and wind energy generation, and energy storage technologies, while supporting green electrification of transportation which includes electric vehicles charging infrastructure.
The company is also expected to scale down investments in new oil production ventures in line with its long-term energy mix plans to meet its carbon footprint targets.
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Patrick Pouyanné, chairman and chief executive officer of TotalEnergies, said: "Energy is life. We all need it and it’s a source of progress. So today, to contribute to the sustainable development of the planet facing the climate challenge, we are moving forward,together, towards new energies.
"Energy is reinventing itself, and this energy journey is ours. Our ambition is to be a world-class player in the energy transition. That is why Total is transforming and becoming TotalEnergies."
The company, which employs around 105,000 employees added that it is committed to energy that is "ever more affordable, clean, reliable and accessible to as many people as
possible."
