French energy group Total change its name to TotalEnergies
To reflect its transformation plan, the French energy company Total is proposing to change its name to TotalEnergies.
According to Total, the Group reaffirms its plan to transform itself into a wide-ranging energy business in order to meet the dual challenge of transforming energy, rising energy and reducing pollution, and the Group's profile will be transformed over the next decade by concentrating its growth on LNG and renewables. It is expected that oil products will fall from 55 percent to 30 percent of sales.
Total has accelerated the implementation of its renewable energy growth plan by adding 10 gw of capacity to its portfolio in 2020 and expects capacity to rise to 35 gw by 2025.
“To anchor this transformation, the group will propose to its shareholders at the annual general meeting on May 28, 2021, changing its name to TotalEnergies. They will hence have the opportunity to endorse this strategy and the underlying ambition to transition to carbon neutrality,” tha company announced in a statement.
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