For Immediate Release
Oil Giant Total Acknowledges Changes Necessary to Meet Global Climate Agreement
WASHINGTON - French oil giant Total released a report yesterday recognizing the need to change its strategy to meet the global climate agreement set in Paris last year and remain consistent with the International Energy Agency’s two degree celsius scenario.
Included in Total’s plan is reducing its exposure to tar sands oil development, refusing oil exploration and development in the Arctic, and applying an internal cost of carbon when evaluating investments.
The announcement came just one day before ExxonMobil and Chevron’s shareholder meeting, when each company is expected to oppose resolutions calling for climate action.
In response Sierra Club’s Global Climate Policy Director John Coequyt released the following statement:
“Sierra Club welcomes Total’s new policy changes to meet the global climate accord and reduce its role in climate disruption. America and the nations of the world cannot meet the goals of the Paris agreement in isolation--companies like Total are key players in the world’s transition away from dirty fuels.
“While this announcement stands in stark contrast to the actions we’re witnessing from companies like ExxonMobil and Chevron, it alone is not enough. The only real strategy for effectively tackling the climate crisis is to transition off of outdated dirty fuels and move toward 100% clean, renewable energy. Smart companies will recognize that, after Paris, the writing is on the wall for that transition in the marketplace, among the governments of the world, and in global public opinion.”
The Sierra Club is the oldest and largest grassroots environmental organization in the United States. It was founded on May 28, 1892 in San Francisco, California by the well-known conservationist and preservationist John Muir, who became its first president. The Sierra Club has hundreds of thousands of members in chapters located throughout the US, and is affiliated with Sierra Club Canada.