AN AMBITION INSPIRED BY THE IEA’S NET ZERO VISION

In its 1.5°C scenario, the IEA is aiming for carbon neutrality by 2050, which requires a 39% reduction in net energy emissions between 2015 and 2030.

Aligned with this scenario, TotalEnergies describes our 2050 vision of a Company for which renewable electricity will account for half of its production; new carbon-free molecules from biomass (biofuels and biogas) or renewable electricity (hydrogen and e-fuels) will represent a quarter; and hydrocarbons (oil and gas) the remaining quarter, with residual emissions fully captured, recycled, or offset.

Reinventing a net zero energy system means producing carbon-free electrons and molecules and developing carbon sinks to absorb CO² from residual hydrocarbons (for producing chemicals, for example).

In 2050:

TotalEnergies would produce:

• 50% of energy in the form of renewable electricity with the corresponding storage capacities, i.e., around 500 TWh/year.
• 25%, equivalent to 50 Mt/year, of the energy produced would be from decarbonized energy molecules (either in the form of biogas, hydrogen, or synthetic liquid fuels from the following circular reaction: H2 + CO² e-fuels).
• 1 Mb/day of hydrocarbons (i.e., close to 4 times less than in 2030, in line with the reduction outlined in the IEA’s Net Zero scenario) made up primarily of liquefied natural gas, around 0.7 Mboe/d, and very low-cost oil would account for the rest. This oil would be used, in particular, in the petrochemicals industry to produce around 10 Mt/year of polymers, two-thirds of which would come from the circular economy.

These hydrocarbons would represent around 10 Mt/year of residual Scope 1 emissions, including methane emissions close to zero (below 0.1 Mt CO² e/year), which would be fully offset by nature-based carbon sink solutions.

These hydrocarbons would represent Scope 3 emissions of around 100 Mt/year. To achieve carbon neutrality together with society, TotalEnergies will help “eliminate” the equivalent of 100 Mt of CO² a year produced by its customers by developing two activities:

• A carbon storage service for its customers, which would store 50 to 100 Mt/year of CO².
• An industrial e-fuels activity that would avoid 25 to 50 Mt/year of CO² for our customers through production using 100% green hydrogen while making up for the intermittence of renewable energies to replace fossil fuels.

In short, the Company will spend the next ten years building the projects and skills needed to make TotalEnergies a net zero energy provider by 2050.