The Energy Intelligence Forum has bestowed its 2020 Energy Innovation Award on Total, in recognition of the company’s work to advance the energy transition by diversifying its portfolio into electricity and renewables while applying rigorous emissions targets to decarbonize in the years ahead.
For the past 40 years, the Energy Intelligence Forum has provided a platform for decision-makers, thought-leaders and innovators from the worlds of energy, finance, politics and business to discuss and develop sustainable solutions to the energy challenges of the 21st century.
Total was presented with the Energy Innovation Award at the event this year, after having received a separate distinction in 2016. The award highlights the Group’s continuous efforts to accelerate its transformation into a broad energy company and thereby meet two challenges: the growing global energy demand and the need to reduce CO2 emissions.
The Group has emphasized its determination to become a broad energy company, producing oil, gas and electricity while pursuing both growth and climate goals and diversifying its energy mix. This strategy is designed to match changing demand, addressing emerging global needs – the population is expected to grow by 2 billion people between now and 2050 – and making a necessary contribution to the world’s decarbonization target (limiting global warming to 2°C).
The 2020 Energy Innovation Award is further proof that Total is stepping up its commitment to successfully completing its energy transition, while integrating the climate into its priorities and business strategy. The Group has also continued to expand its ambition to get to net-zero emissions by 2050.
To actively contribute to decarbonizing energy consumption, Total will further increase its allocation of capex in favor of low-carbon electricity to 20% by 2030 or sooner.