Total joins O&G majors with net-zero ambitions, reconfirms renewables target

Facebook
Twitter
LinkedIn
Reddit
Email
Image credit: Laurent Vincenti.

Total has become the latest oil and gas (O&G) major to set its sights on becoming net zero by 2050, reconfirming its plans for a major green energy push despite the recent financial hit from the oil market crisis. 

Earlier this week, the French group said it would stick to its previously announced target to reach a 25GW renewables portfolio by 2025, as part a new plan to reach net zero emissions by mid-century.

This article requires Premium SubscriptionBasic (FREE) Subscription

Try Premium for just $1

  • Full premium access for the first month at only $1
  • Converts to an annual rate after 30 days unless cancelled
  • Cancel anytime during the trial period

Premium Benefits

  • Expert industry analysis and interviews
  • Digital access to PV Tech Power journal
  • Exclusive event discounts

Or get the full Premium subscription right away

Or continue reading this article for free

According to Total, over 10% of current capex volumes is going towards funding low-carbon electricity ventures. The figure – the highest among O&G majors, or so Total claimed – will increase to 20% by “2030 or sooner,” the firm said. 

The doubling down on green energy spending came despite the financial downturn Total witnessed the quarter just gone, amid a global oil market rout driven by anti-pandemic lockdown measures.

The firm remained income-positive but from cash flow from operations to adjusted net income, key Q1 2020 financial metrics were down 35-64% compared to Q1 2019. 

Total's new net-zero push follows similar climate and green energy pledges by fellow O&G majors in recent months, including RepsolGalp, BP, Eni and Equinor. The sector has been urged by the IEA not to abandon renewable ambitions even as COVID-19 cripples oil revenues.

See here to read the full story on PV Tech's sister title Current±

PV Tech has set up a dedicated tracker to map out how the COVID-19 pandemic is disrupting solar supply chains worldwide. You can read the latest updates here.

If you have a COVID-19 statement to share or a story on how the pandemic is disrupting a solar business anywhere in the world, do get in touch at [email protected] or [email protected].

21 October 2025
New York, USA
Returning for its 12th edition, Solar and Storage Finance USA Summit remains the annual event where decision-makers at the forefront of solar and storage projects across the United States and capital converge. Featuring the most active solar and storage transactors, join us for a packed two-days of deal-making, learning and networking.

Read Next

October 3, 2025
Renewables developer Madison Energy Infrastructure has bought the US distributed generation assets of NextEra Energy Resources.
Premium
October 2, 2025
Australia's solar sector delivered a strong September performance in the National Electricity Market (NEM) as the country entered spring, with combined solar PV generation reaching 3,933GWh - a 17.83% increase from August's 3,338GWh.
October 2, 2025
Spanish waste management company Trabede and energy firm Greening Group will build a solar module recycling plant in Granada, Andalusia, Spain.
October 2, 2025
The European solar sector will lose around 5% of its jobs in 2025, the first contraction in employment for the sector in nearly a decade.
October 2, 2025
PV products using perovskite technology could assume a dominant position within the next ten years, according to module producer Qcells' CTO.
Premium
October 2, 2025
PV Talk: Qcells’ CTO Danielle Merfeld discusses the imminent opening of America’s first integrated ingot-to-module factory and her belief in solar’s long-term strengths.

Subscribe to Newsletter

Upcoming Events

Solar Media Events
October 7, 2025
Manila, Philippines
Solar Media Events
October 7, 2025
San Francisco Bay Area, USA
Solar Media Events
October 21, 2025
New York, USA
Solar Media Events
November 25, 2025
Warsaw, Poland