Total is to propose a name change to TotalEnergies to its shareholders to reflect its increased investment in renewables and electricity.
During its fourth quarter and full year results for 2020 Total said the group affirms its plan to “transform itself into a broad energy company to meet the dual challenge of the energy transition: more energy, less emissions”.
The group’s profile will be transformed over the 2020-30 decade with Total’s growth of energy production based on two pillars, renewables and electricity and liquified natural gas, while oil products are expecting to fall from 55% to 30% of sales.
To anchor this transformation, Total will propose to its shareholders at the annual general meeting on 28 May 2021, changing its name to TotalEnergies.