Paris - Total is consolidating its efforts to address climate change by supporting three international initiatives backed by the Global Compact, the World Bank and the Climate and Clean Air Coalition (CCAC).
- Total supports the United Nations Global Compact’s call for companies to factor an internal carbon price into their investment decisions.
Since 2008, Total has factored a long-term carbon price of €25 per ton into its investment decisions and backed the gradual introduction of policies that incorporate climate considerations into markets without distorting competition.
- Total has pledged to join the World Bank's planned Zero Routine Flaring by 2030 Initiative.
A member of the World Bank’s Global Gas Flaring Reduction Partnership since 2004, Total has voluntarily reduced routine gas flaring in its production operations by 40% since 2005. In 2000, the Group announced that it would no longer routinely flare associated gas in new oil developments. Total’s support for this new global initiative led by the World Bank is therefore aligned with its long-standing policy in this area.
- Total is joining the Climate and Clean Air Coalition, which works to more effectively measure, manage and mitigate emissions of methane, a gas whose global warming potential is much higher than carbon dioxide’s.