In 2021, Total became TotalEnergies. This new name illustrates the Company's new ambition of becoming a world-class player in the energy transition and achieving carbon neutrality by 2050 together with society.
This determination is driven by the Company's firm belief that all the world's populations have the fundamental right to access a reliable and affordable source of energy with the ability to power their economic and social development. But those populations also expect companies to protect the climate for future generations. Our Company is transforming its business activities to deliver tangible and long-term solutions to address a dual challenge: more energies, less emissions.
One year later, the "Sustainability & Climate 2022 Progress Report" fulfils the simple objective of demonstrating how our ambition is reflected in our transformation strategy.
Our report offers a clearer insight into our vision for 2050, which especially involves pushing for a significant change to the energy mix. Part of the solution to moving the energy transition forward lies in the soaring development of new molecules (biofuels and biogas, clean hydrogen, and synthetic fuels combining hydrogen and carbon), which we are actively pioneering while prioritizing circular resource practices.
The other pathway to achieving the energy transition involves switching over from fossil fuels to electricity, which requires a tremendous increase in the amount of green electrons. TotalEnergies is developing its presence across the entire renewable electricity chain (production, storage, trading and sales). We are aiming to achieve our goal of becoming one of the world's top five producers of solar and wind energy by 2030.
The report spells out our actions to tackle global warming, such as the ongoing effort to drastically cut our methane emissions. We also present the initiatives that our Company is spearheading to promote sustainable development with special focus on improving people's well-being, protecting natural resources and creating shared value.