A Two-pillar Multi-energy Strategy
To address the rising global energy demand while cutting greenhouse gas emissions, TotalEnergies bases its strategy on two main pillars: Oil & Gas and Electricity (Integrated Power). The company aims to develop an integrated and balanced multi-energy transition as part of its commitment to carbon neutrality in collaboration with society.
Energy is vital worldwide, essential for food production, lighting, heating, cooling, transport, healthcare, construction, and commerce. However, the climate challenge remains significant since 80% of the global energy system still depends on fossil fuels.
Energy demand has historically grown with population size and higher living standards. The global population is expected to increase by nearly 2 billion between 2023 and 2050. This growth will strongly impact the achievement of the United Nations Sustainable Development Goals (SDGs), which focus on improving well-being while protecting nature and biodiversity.
It is critical to accelerate the development of a decarbonized energy system while ensuring the current system continues to meet global needs. This requires a just, orderly, and equitable transition of energy systems.
"Energy is an essential resource, everywhere indispensable for living: for food, lighting, heating and cooling, transport, healthcare, construction and trade."
"The global energy system still relies 80% on fossil fuels."
"The global population is set to increase by almost 2 billion inhabitants between 2023 and 2050."
"There is an urgent need to accelerate the development of a decarbonized energy system, while maintaining the current energy system at a high enough level to be able to meet global demand and organize a just, orderly and equitable transition of energy systems."
Author's summary: TotalEnergies pursues a balanced strategy combining oil, gas, and electricity to meet growing energy demand and drive a just transition toward carbon neutrality amid rising populations and climate challenges.