Presentation Strategy, Sustainability & Climate

TotalEnergies’ Stays the Course on Its Multi-energy Strategy Balancing Profitable Growth and Sustainable Development, and Strengthens Its Emission Reduction Objectives - Seite 2

... and resolutely pursues the implementation of its climate roadmap

In 2022, TotalEnergies pursued its ambition to be a major player in the energy transition and to get to net zero by 2050, together with society. The realization of this ambition was marked again in 2022 by significant progress:

• methane emissions from the Company's operated facilities were reduced by 34% compared to the 2020 base year (compared to 23% in 2021);
• the lifecycle carbon intensity of energy products sold to its customers decreased by 12% in 2022 compared to 2015 (compared to 10% in 2021);
• emissions related to petroleum products used by its customers (Scope 3 Oil) decreased by 27% compared to 2015 (compared to 19% in 2021).

Given its LNG growth strategy and convinced by the central role of gas in the energy transition, TotalEnergies has estimated, for the first time, the GHG reduction that its LNG sales could account for by displacing coal and fuel oil for electricity generation, depending on customer and destination. As a consequence, TotalEnergies estimates that its LNG sales have helped to avoid about 70 Mt CO₂e emissions at the global level.

In 2023, TotalEnergies strengthens its Climate objectives and further accelerates investment in its transformation

Buoyed by its progress in 2022, TotalEnergies is strengthening its emission reduction objectives:

• On its operated facilities, the Company has set a new absolute emissions target of less than 38 Mt CO₂e (Scope 1+2) in 2025 versus 2015 (compared to < 40 Mt CO₂e previously), thanks notably to a $1 billion global energy savings program for 2023-24.
• TotalEnergies reinforces its objective of reducing the carbon intensity of the energy mix sold to its customers from -20% to -25% by 2030 compared to 2015, and to -15% from 2025 (compared to -10% previously).
• The Company strengthens its objective of reducing Scope 3 Oil emissions from -30% to -40% in 2030 compared to 2015, and ‑30% from 2025.

As the Company's ambition is also based on a clear and disciplined through-cycle investment policy, TotalEnergies has decided to increase the share of investments in low-carbon energies by $1 billion to $5 billion in 2023 from the total planned range of $16-18 billion. By 2030, TotalEnergies plans to invest $14 billion to $18 billion per year, depending on the cycle, of which a third will be in low-carbon energies, about 30% will be dedicated to the development of new oil and gas projects, and the remainder devoted to maintenance of the hydrocarbon portfolio.