TotalEnergies supports the objectives of tripling the amount of renewable energy and doubling energy efficiency by 2030, as well as slashing methane emissions within that time frame. These objectives are at the heart of TotalEnergies’ roadmap for 2030.
The agreement reached at COP28 reinforces TotalEnergies’ transition strategy, which aims, on the one hand, to contribute to the development of a new decarbonized energy system based on electricity and renewables, in which gas plays a useful role as a flexible transitional energy; and, on the other hand, to support a just, orderly and equitable transition away from fossil fuels, notably in emerging countries that legitimately aspire to economic and social development for their populations.
We invested 16.8 billion dollars in 2023, including 35% for low-carbon energy mainly in power. In 2024, we plan to invest between $17 and $18 billion, including a further $5 billion for Integrated Power.
We are maintaining an annual capital expenditure target of 14-18 billion dollars over the next 5 years. Spending on low-carbon energy will represent 1/3 of our investments, more than new Oil & Gas projects (approximately 30%).
