INTEGRATING CLIMATE INTO OUR STRATEGY • 03
Integrating
Climate
Into Our Strategy
MAY 2017
INTEGRATING CLIMATE INTO OUR STRATEGY • 03
Foreword by Patrick Pouyanné, Chairman and Chief Executive Officer, Total 05
Three Questions for Patricia Barbizet, Lead Independent Director of Total 09
_____________
SHAPING TOMORROW’S ENERGY
Interview with Fatih Birol, Executive Director of the International Energy Agency 11
The 2°C Objective: Challenges Ahead for Every Form of Energy 12
Carbon Pricing, the Key to Achieving the 2°C Scenario 14
Interview with Erik Solheim, Executive Director of UN Environment 15
Oil and Gas Companies Join Forces 16
Interview with Bill Gates, Breakthrough Energy Ventures 18
_____________
TAKING ACTION TODAY
Integrating Climate into Our Strategy 20
An Ambition Consistent with the 2°C Scenario 22
Greenhouse Gas Emissions Down 23% Since 2010 23
Natural Gas, the Key Energy Resource for Fast Climate Action 24
Switching to Natural Gas from Coal for Power Generation 26
Investigating and Strictly Limiting Methane Emissions 27
Providing Affordable Natural Gas 28
CCUS, Critical to Carbon Neutrality 29
A Resilient Portfolio 30
Low-Carbon Businesses to Become the Responsible Energy Major 32
Acquisitions That Exemplify Our Low-Carbon Strategy 33
Accelerating the Solar Energy Transition 34
Affordable, Reliable and Clean Energy 35
Saft, Offering Industrial Solutions to the Climate Change Challenge 36
The La Mède Biorefinery, a Responsible Transformation 37
Energy Efficiency: Optimizing Energy Consumption 38
_____________
FOCUS ON TRANSPORTATION
Offering a Balanced Response to New Challenges 40
Our Initiatives 42
______________
OUR FIGURES 45
CONTENTS
04 • INTEGRATING CLIMATE INTO OUR STRATEGY
Total at a Glance
98,109
23%
employees
at January 31, 2017
after the sale of Atotech
decrease
in greenhouse gas
emissions since 2010
in our operated scope
customers served in our
service stations each day
More than
oil and gas
company worldwide
in biofuel marketing
a global top 10
integrated manufacturer
4 million
6.7
forecasted spending
on R&D between
2016 and 2020
billion
No. 4
European leader A leader
Refining & Chemicals:
2.5 Mboe/d produced in 2016,
of which approximately 48% gas
2.3 Mt of biofuels blended
into gasoline and diesel in 2016
in solar energy
A Global Energy Leader
Responsible Growth
USD
INTEGRATING CLIMATE INTO OUR STRATEGY • 05
FOREWORD
PATRICK POUYANNÉ
Chairman and Chief Executive Officer, Total
The Time for Action Is Now
This is Total’s second report on what we are doing
to tackle climate challenges as an integral part of our
corporate strategy. This publication has three major
objectives. First, to share our ambition for Total in 2035,
as we reshape the company using the International
Energy Agency’s (IEA) 2°C scenario as a baseline.
Second, to describe how we are addressing the impact
of that scenario on our decision-making. It has prompted
us to acknowledge that oil is a mature market facing
long-term decline. Thus, our policy of selective
investment is an increasingly important contributor
to sustainable performance and warrants further
clarification. And third, this report is an opportunity
to take stock of the actions we have already
implemented, the initiatives we are currently
undertaking, our investments to secure the future
and the indicators we use to track our performance.
“ This report is an opportunity
to take stock of our actions,
our investments to secure
the future and the indicators
we use to track our
performance.”
06 • INTEGRATING CLIMATE INTO OUR STRATEGY
Our policy has evolved out of a desire for transparency
and dialogue with our stakeholders, to ensure they fully
understand the challenges and opportunities that climate
change presents for Total.
This year’s report comes at a time of major
developments. The COP21 Paris Climate Conference
in 2015 generated renewed awareness, formally outlined
in goals and voluntary commitments by numerous
stakeholders. Those goals and commitments remain valid
today. The 2016 ratification of the Paris Agreement by
94 parties was a further milestone. So 2017 represents
a time for action by governments and the private sector
alike. The business world has mobilized to an impressive
degree and here at Total, we are actively backing
international initiatives that will compel industry action.
The Oil & Gas Climate Initiative’s launch of Climate
Investments (OGCI CI), including its pledge of no less
than $1 billion for projects and technology that could
significantly reduce emissions, is the best example of
this. The initial focus areas will be developing carbon
capture, utilization and storage, reducing methane
emissions and improving energy efficiency. The multiplier
effect of all of these companies investing together serves
as an engine to attract other funding.
Total’s strategy — to become the responsible energy
major, providing affordable, reliable and clean energy
to as many people as possible — is consistent with this
proactive commitment. At Total, today’s climate concerns
are integral to our strategic decisions. With that in mind,
we have taken the critical step of creating a combined
Strategy & Climate Division and a new business segments,
Gas, Renewables & Power (GRP), which is spearheading
Total’s ambitions in the field of low-carbon energy.
Significant Ongoing Investment in R&D
As the IEA’s 2°C scenario indicates, changes in the
energy mix play an instrumental role in any effort to limit
climate change.
Demand for energy remains intense and will only grow
more so in the coming years. There are now 7 billion
people in the world, of whom 1.3 billion lack access
to energy. By 2040, the world’s population is likely to
top 9 billion, including 2 billion people in Africa. Global
demographic growth will require energy that is not
only affordable, to support the planet’s economic and
social development, but friendlier to the environment
as well. That calls for significant progress, and while
some avenues of opportunity are at hand, others must
be improved or even built from scratch. That is why
Total’s R&D budget, which already exceeded $1 billion
in 2016, will continue to rise. That campaign for
innovation — marked by determination, commitment but
also pragmatism, and in many cases involving partner
organizations — is already leading us toward a lower-
carbon energy mix.
“ Our goal is to have
low-carbon businesses
account for close to 20%
of our portfolio in 2035.”
INTEGRATING CLIMATE INTO OUR STRATEGY • 07
In particular, we intend to earmark 10% of our R&D
budget (excluding specialty chemicals R&D) for carbon
capture, utilization and storage technologies. Reaching
carbon neutrality during the latter half of the century is
a climate imperative. But oil and gas will still dominate
the energy mix at that time. Those two factors can only
be reconciled if carbon storage and utilization technology
is in place and operational.
More Natural Gas to Meet Demand for Electricity
Oil and natural gas are not going away. They are essential
to continued growth, and will continue to play an important
role in the decades to come: under the IEA’s 2°C scenario,
they will still comprise more than 40% of the primary
energy mix in 2035. So we must not embrace the
unrealistic idea of an abrupt transition; instead, we need
to look at these energies from a fresh perspective.
We are moving toward a model in which natural gas
— which emits half as much carbon as coal for power
generation — increasingly replaces coal in the energy
mix. Here too, climate concerns generate opportunities
for growth. Demand for electricity will outpace energy
demand over the next two decades, and natural gas
offers a reliable solution in the face of that reality. Gas
will make up the biggest share of our portfolio by 2035.
But in order for natural gas to gradually take the place
of coal — an inexpensive, abundant energy source —
we must tackle a critical challenge: cost. That’s a priority.
Total has a role to play in meeting that challenge. First,
by maintaining a high level of investment,
as we have done in recent years and will continue
to do, despite the volatility of energy prices. Second,
by ensuring that the cost of our gas liquefaction
projects is lowered by introducing new technologies.
And third, by encouraging the growth of gas demand,
as with our recent regasification terminal projects
in Côte d’Ivoire and Pakistan.
Energy efficiency is likewise a key component of our
activities, whether at our own facilities, where we aim for
a 1% improvement each year, or those of our customers,
thanks to products and services that encourage
responsible energy use.
Beyond our own initiatives, one crucial factor for success
remains the introduction of carbon pricing that aligns
energy prices more closely with carbon content, to ensure
a more balanced mix that favors sources with lower
emissions. Putting a price on carbon is the most efficient
financial mechanism to change the rules of the game
quickly. The main priority is to reduce the use of coal
by switching to natural gas and renewables for power
08 • INTEGRATING CLIMATE INTO OUR STRATEGY
generation. Some countries, such as the United Kingdom,
have begun moving in that direction by establishing
a price support (£18 per ton) to maintain the E.U.
Emissions Trading System (ETS) market price. This has
quickly led to a reduction in carbon emissions without
curbing the supply of energy. We support any such
initiative that would immediately institute a carbon floor
price in the European Union, for example €20/ton, and
otherwise allow the market to determine price through
schemes such as the ETS.
More Renewables to Meet Demand for Electricity
We are getting ready for the trend toward greater
electricity demand by looking outside the company with
acquisitions such as Lampiris, a supplier of natural gas
and green power to the residential sector; Saft, a battery
manufacturer; and PitPoint, a leading European provider
of natural gas vehicle fuel.
Like natural gas, renewable energy offers a further
resource for meeting rising power demand. Our ambition
is to consolidate a market-leading position in solar energy
by leveraging SunPower’s cutting-edge technology
for distributed generation applications and through
the growth of our affiliate Total Solar in utility-scale solar
power plant projects. We aim to continue expanding
our operations — especially in Africa, which could, in fact,
leapfrog to distributed generation based on renewable
energies. Already deployed in over 30 countries, our
Total Access to Solar program provides us with valuable
experience in understanding the challenges ahead.
Our goal is to have low-carbon energy account for close
to 20% of our businesses in 2035, while also growing
this portfolio profitably.
Tackling the Challenges Raised by Transportation
The face of transportation will be transformed in the
coming decades. For instance, electric vehicles will be
extensively used in large urban areas within 20 years.
The changes will also impact the trucking sector
and maritime transportation. In both cases, natural gas
will be called on to play a role, and Total aims to be
a front-ranking provider to industry players.
In aviation and road transportation alike, biofuel use will
have to expand if climate objectives are to be met.
In response, we are investing to cement our position
as Europe’s leading biofuel marketer.
An Organization That Reflects Our Strategy
To address this array of challenges, Total’s organization
needed to be adapted. So in 2016 we created a new
business segment: Gas, Renewables & Power (GRP).
The very name reflects our perspective on the market.
GRP has a very clear task: propose a growth strategy
with regard to midstream and downstream gas, renewable
energies, the electricity value chain and energy efficiency.
It is founded on the integrated business model that has
served us so well: we explore for, produce, refine, process,
market and distribute energy to fulfill our customers’
expectations as closely as possible. Our approach
is rooted in a highly disciplined investment policy,
with a focus on low-cost energies to meet our customers’
primary requirement: affordable, even cheap, energy.
There too, corporate strategy and climate responsibility
go hand in hand.
Optimizing the mix of fossil fuels, developing low-carbon
businesses, promoting energy efficiency, exploring
new options for carbon utilization — Total is building
a comprehensive array of diversified, growth-enhancing
solutions, commensurate with the scope of the challenges
we face.
“ The main priority is to reduce
the use of coal by switching
to natural gas and renewables
for power generation.”
INTEGRATING CLIMATE INTO OUR STRATEGY • 09
You were appointed lead
independent director of Total on
December 19, 2015. What does
your role involve?
The lead independent director helps
to ensure efficient governance of the
company in accordance with current
practice. This role is considered to
be useful by many investors and
proxy advisory firms when
the positions of Chairman and Chief
Executive Officer are combined, as
is again the case at Total since the
management transition led by
Patrick Pouyanné. My responsibility
is to ensure that the Board of
Directors runs smoothly and
follows its rules of procedure.
As Chairwoman of the Governance
& Ethics Committee, I’m also in
charge of leading the review of the
Board’s work and preventing conflicts
of interest. And, along with the
Chairman and Chief Executive Officer,
I’m a primary contact
for shareholders.
You have been a Total director
since 2008. How has the Board
of Directors’ approach to climate
issues changed over time?
The Board has always taken
climate issues seriously. But what
has changed over time is the role
that they play in Total’s strategy.
In 2008, climate issues were
treated as a completely separate
environmental risk requiring
measures to reduce the footprint
of Total’s activities. More recently,
these issues have been fully
integrated into the company’s
business and strategic vision, as well
as its organizational structure, which
was revamped in September 2016,
a process that included the creation
of a combined Strategy & Climate
Division. By the same token, the
creation of the Gas, Renewables
& Power segment provides the
opportunity for industrial and
commercial synergies in Total’s
low-carbon solutions. That’s a good
indicator of how Total’s long-term
strategy is built on addressing
climate-related challenges.
Does the Board’s commitment
include considering climate issues
in setting the Chairman and Chief
Executive Officer’s compensation?
Absolutely. Last year, the
Compensation Committee changed
the criteria for the Chairman and
Chief Executive Officer’s variable
compensation to put more
emphasis on achieving HSE
and CSR objectives. Together
those goals now account for 30%
of that compensation.
In 2016 the safety objective,
established largely by benchmarking
with the other leading oil companies,
was met. At Total, safety is not just
a priority, but also a core value, and
the Board’s members fully support
that perspective. The Group’s CSR
performance likewise was deemed
fully satisfactory, notably with the
deployment of the “One Total, One
Ambition” project, which uses the
IEA’s 2°C scenario as its baseline.
The acquisitions of Saft, a leading
supplier of electricity storage
solutions, and Lampiris,
a natural gas and power provider,
will also contribute to fulfilling those
objectives. Total has improved its
position in the rankings published
by non-financial (ESG) rating
agencies, and at the request
of the directors, has published
a report on the role of climate
concerns in its strategy.
In its assessment of 2017, the Board
of Directors will uphold an equally
strict standard regarding these issues.
“ The climate has been fully integrated
into Total’s business and strategic vision,
as well as its organizational structure.”
THREE QUESTIONS FOR
PATRICIA BARBIZET
Lead Independent Director of Total
CLIMATE GIVEN GREATER WEIGHT
IN THE CHAIRMAN AND CEO’S
COMPENSATION
In 2015, the portion relating to the
HSE/CSR performance criteria used
to calculate Patrick Pouyanné’s variable
compensation was set at a maximum
of 16% of his base salary.
For 2016, in a bid to give greater weight
to HSE/CSR criteria, the Board of
Directors increased this portion to 30%,
with 20% tied to safety performance
and 10% to CSR performance.
This breakdown is being maintained
for 2017, and CSR performance will be
assessed on the basis of Total’s attention
to climate issues in its strategy as well
as its reputation in the area of corporate
social responsibility.
10 • INTEGRATING CLIMATE INTO OUR STRATEGY
Shaping
Tomorrow’s
Energy
Energy is at the heart of the challenges we face to keep the global
average temperature rise below 2°C. What mechanisms can
be put in place and what conditions favor success?
We are helping to effect this transformation and are actively
involved, both within our industry and in the broader international
community, in shaping tomorrow’s energy.
INTEGRATING CLIMATE INTO OUR STRATEGY • 11
INTERVIEW
What are the latest trends in terms
of GHG emissions worldwide?
Our data shows that while the global
economy grew by over 3% in 2016,
energy-related emissions of carbon
dioxide were flat. This was mainly
the result of markets, with generators
switching from coal to gas in the U.S.,
U.K. and other countries, and
a continued push on renewables
and energy efficiency.
What changed in 2016 for the IEA’s
2°C scenario?
In our latest edition of the World
Energy Outlook (WEO), the role
of carbon capture and storage has
been revised downward to reflect
the current slow progress, despite
the key role this technology could
play as an asset protection strategy
in a decarbonized world. On the other
hand, we have revised upward the
role of electric vehicles and variable
renewables, solar in particular, due
to the recent strong progress that
has been driven by cost reductions
and strong government support.
What is the role of efficiency
measures in IEA projections?
Energy efficiency is and will remain
a key instrument to achieve multiple
goals, and the policy attention
it receives is reflected in our
projections. While tighter standards
have been important in improving
energy efficiency, another key policy
development has been the increased
use of market-based instruments,
such as utility obligation programs
and auction mechanisms. We are
currently also investigating the role
that digitalization will have in future
energy demand trends, including
energy efficiency in transportation,
buildings and industry.
What place do you expect natural
gas to hold in time?
Natural gas performs best of all
the fossil fuels in our WEO scenarios.
But it will not be plain sailing for gas,
which faces strong competition from
coal in some markets and is being
squeezed by the rise of renewables
in others. Over the next five years
another 130 billion cubic meters of
liquefaction capacity will come on
line — mostly in the United States
and Australia — creating new options
and greater flexibility for buyers of
gas. But as we expect the current
overcapacity in LNG to be absorbed
by the mid-2020s, new investment
decisions will be needed well before
this point to avoid a new round
of market tightening.
“ Natural gas performs best of all the fossil
fuels in our WEO scenarios.”
FATIH BIROL
Executive Director of the International
Energy Agency (IEA), which publishes
the flagship World Energy Outlook
(WEO) report, Dr. Birol shares his
insights on energy perspectives and
related climate challenges.
450 MILLION EVs IN 2035
The expected number of electric
vehicles has substantially progressed
in the WEO 2016 versus the 2015 edition,
reaching 450 million in 2035 versus
in 2040 previously.
12 • INTEGRATING CLIMATE INTO OUR STRATEGY
The 2°C Objective:
Challenges Ahead
for Every Form of Energy
The world economy must be profoundly reshaped to keep the average global temperature rise to below
2°C above pre-industrial levels by 2100. Energy consumption, which represents nearly 70% of global greenhouse
gas emissions — with the rest due primarily to agriculture and industry — is a key factor in the balancing
act required.
Greenhouse Gas Emissions
Related to Human Activity in 2010
Global greenhouse gas emissions amounted to
49 Gt CO2-eq in 2010. According to the IPCC Fifth
Assessment Report, if current trends continue, global
emissions will total approximately 75 Gt CO2-eq in 2035,
whereas scenarios compatible with a 2°C increase assume
emissions of no more than about 35 Gt CO2-eq in 2035.
The 2°C trajectory outlined by the International Energy
Agency (IEA) scenarios1 incorporates this emissions
reduction, which entails sharply decreasing the
carbon content (“carbon intensity”) of GDP by an
estimated 3 to 4% annually between now and 2035.
1 For the purposes of this report, “2°C scenario” refers to the pathways outlined in the 450 and 2°C scenarios published by the IEA in the World Energy Outlook and Energy
Technology Perspectives, respectively. These scenarios aim to limit the average global temperature rise above pre-industrial levels to 2°C by 2100.
The Facts
A CLOSER LOOK
Other
Agriculture
Industry
Energy
(coal based)
Energy
(gas based)
Oil and gas account for 37%
of greenhouse gas emissions related
to human activity.
Roughly 85% of emissions related to oil
and gas are generated during product
end-use; the remaining 15%, during
production and refining.
Pétrole
Gaz
14%14%
11%
7%
31%
23%
Source: Adapted from the IEA report CO2 Emissions from Fuel Combustion, 2016 edition.
49
Gt CO2e
(2010)
Energy
(oil based)
INTEGRATING CLIMATE INTO OUR STRATEGY • 13
In its 2°C scenario, the IEA outlines three areas of focus to
alter the trajectory of energy-related CO2 emissions:
Mboe/d
Global Energy Mix
The first challenge is to reduce the share of coal. Under
the IEA’s 2°C scenario, it will shrink from 28% to 16%
between 2016 and 2035. Oil and gas will account for
48% of the “target” 2°C mix for 2035, versus 52% today.
All fossil fuels are not equal. For an equivalent energy
content, gas emits around half as much CO2 as coal on
average when used for power generation. Consequently,
the share of gas should continue to grow — by around
15% over the period — to 23% of the 2035 energy mix.
But that will require reducing gas production and
transportation costs, so that consumers gain access to
affordable energy that is competitively priced compared
with coal. Oil’s share of the mix will begin to decline
gradually, to 25% in 2035 from 31% today, because
it will be reserved primarily for transportation and
petrochemicals. The share of renewables, excluding
traditional biomass, will soar over the same period,
to 23% from 9%.
An Energy Mix That Is Up to the Task
Solar, wind
and other renewables
Modern biomass
Traditional biomass
Hydropower
Nuclear
Oil
Gas
Coal
A DYNAMIC CLIMATE
OF INVESTMENT
According to the IEA, some $5.7 trillion
and $6.9 trillion need to be invested
in the natural gas and oil sectors
respectively over the next 20 years.
Although this represents a slowdown
in investment for oil, it amounts to
a 13% increase over the average annual
investment in natural gas in the period from
2000 to 2013.
0
2013 2020 2030 2035
10
20
30
40
50
60
Business as usual
2 °C scenario
0
2016e
2016
280 293
2035
2°C
50
100
150
200
250
300
Approx. 1/3 – Renewable energies
Approx. 1/3 – Energy efficiency
Approx. 1/3 – Optimized current
energy mix
(CCUS, switch from coal
to natural gas, nuclear, etc.)
350
28%
16%
25%
23%
10%
10%
9%
4%
4%
31%
21%
5%
5%
2%
2%
6%
Gt CO2
14 • INTEGRATING CLIMATE INTO OUR STRATEGY
Carbon Pricing,
the Key to Achieving
the 2°C Scenario
Putting a price on carbon is an essential step in the transition
to a low-carbon economy. Carbon pricing would help to push power
generation from coal to natural gas, which has half the carbon intensity
of its rival. We have been working since 2015 to convey our values
and propose solutions through dialogue with governments,
organizations and industry peers.
A price of between $30 and $40 per ton would be enough to:
- Encourage a switch from coal to gas; gas has half the carbon intensity
of coal in power generation.
- Steer investment toward the technologies required to reduce emissions.
In particular, carbon capture, utilization and storage (CCUS) — which the IEA
considers a prerequisite for halving global greenhouse gas emissions by 2050
— requires the introduction of a carbon pricing mechanism if it is to become
feasible on a large scale.
We are calling for the rapid adoption of pricing mechanisms that are tailored
to specific circumstances, such as geographical region or economic sector,
and can be gradually linked. Currently, the most pressing issue is simply
to promote the idea of carbon pricing in any form.
We have been campaigning on behalf of that goal since 2015, notably through
international initiatives, such as the World Bank’s Carbon Pricing Leadership
Coalition1, that give our message a wider reach.
For example, we support the immediate adoption of a floor price of
approximately €20 per ton of CO2-eq. This would strengthen the European
Union emissions market and accelerate the switch to natural gas from coal
for power generation.
In preparation for these international conditions, we measure the robustness
of our future long-term investments with an internal carbon price of between
$30 and $40 per ton, depending on the price of oil.
We begin factoring
a carbon price of
€25 per ton
into our investment
decisions.
Paying for Carbon:
Total and five other leading oil and gas
companies call on the international
community to implement carbon
pricing mechanisms.
We help to deploy
the World Bank’s
Carbon Pricing
Leadership Coalition.
We review our internal
carbon price, setting it at
between $30 and $40
per ton, depending on
the price of oil.
2008 2015 2016 2016
Milestones
1,200
40
13%
25%
More than 1,200 companies
(a threefold increase since 2014)
say they are using a baseline
carbon price internally or expect
to do so within two years.
Forty countries and
20 provinces and cities are
currently using or expect
to institute carbon pricing.
The proportion of global
emissions covered by an explicit
pricing mechanism.
The percentage of GHG
emissions that will be covered
by a carbon pricing system
when China introduces a
national cap and trade market,
expected in 2017.
OIL AND GAS COMPANIES CALL
FOR CARBON PRICING
In May 2015, six global oil and gas
companies — BG Group plc, BP plc,
Eni S.p.A, Royal Dutch Shell plc,
Statoil ASA and Total S.A. — sent
an open letter to the United Nations
Framework Convention on Climate
Change (UNFCCC) and the Presidency
of COP21 calling for the introduction of
carbon pricing mechanisms. Their goal
was to reduce uncertainty and promote
more economically efficient methods for
reducing carbon emissions worldwide.
1 Established in 2015, the Carbon Pricing Leadership Coalition (CPLC) is a platform for collective action by more than 24 countries and 90 global businesses and strategic
partners. Its goal is to encourage action on carbon pricing by expanding the evidence base and mobilizing support in the business community.
Source: World Bank
http://www.worldbank.org/en/news/feature/2016/04/15/carbon-pricing-building-on-the-momentum-of-the-paris-agreement
Source: State and Trends of Carbon Pricing 2016,
World Bank Group, and Key Figures on Climate,
France and Worldwide, 2017 edition, French Ministry
of the Environment, Energy and Marine Affairs.
INTEGRATING CLIMATE INTO OUR STRATEGY • 15
INTERVIEW
Climate change is a global
issue. How do we coordinate
public regulation and private
partnerships?
Public regulation is essential to
establish clear boundaries, but it
cannot achieve climate change
on its own. The private sector is
where innovation and technological
solutions will come from. It needs
to be given the space necessary
for driving change. I often say that
the regulator’s relationship with the
private sector should not be limited
to naming and shaming. We also
need to name and fame.
Is there enough leadership
today in the fight against climate
change?
There is always space for more
leadership. But what is crucial is a
change in mindset. Previously, action
on climate change was presented
as a cost, with negotiations focusing
on who should pay. Now more
countries, like India and China,
are embracing the idea that a low-
carbon economy is a great business
opportunity.
Is closer monitoring of methane
emissions necessary?
Methane is a major driver of climate
change as a powerful greenhouse gas.
As such, methane emissions need
to be an integral part of our wider
monitoring efforts.
Which areas would benefit
most from more environmental
collaboration and cooperation?
We clearly need to see more
progress on carbon capture,
utilization and storage (CCUS),
moving toward stable long-
term storage solutions that are
effective, cost competitive, and
environmentally safe. This can
be done by ensuring adequate
investment in science and providing
adequate space for the right
solutions to emerge. Urgent action
in urban areas would also deliver
critical results: cities produce over
70% of global CO2 emissions.
“ What is crucial
is a change
in mindset.”
ERIK SOLHEIM
Executive Director of UN Environment,
Mr. Solheim is a former Norwegian
Minister of Environment and
International Development.
+2.9° TO 3.4° CELSIUS
Despite the Paris Agreement,
we are still heading for a temperature
rise of 2.9° to 3.4°C this century,
says Erik Solheim. Without stronger
commitments, CO2 emissions in
2030 will be 12 to 14 gigatons above
the levels needed to limit global
warming to 2°C.
16 • INTEGRATING CLIMATE INTO OUR STRATEGY
Oil and Gas Companies
Join Forces
Launched in 2014 by Total and nine other companies1,
the Oil & Gas Climate Initiative (OGCI) has set itself
the objective of driving practical action to mitigate
the industry’s greenhouse gas emissions.
The creation of the OGCI was announced on September
23, 2014 during the United Nations Climate Summit
held in New York. The industry-driven initiative currently
has 10 members, all major international companies,
that together represent around 20% of global oil and
gas production. The CEO-led OGCI aims to catalyze
collective action by those most committed to addressing
climate change and to advance technological solutions
through collaborative programs. The organization has
expressed its collective support for the Paris Agreement
and welcomed its entry into force in November 2016.
As a founding member, we engaged fully in the
initiative’s launch and development. The OGCI
is currently focusing its efforts on four issues.
The first is accelerated deployment of CCUS,
and specifically a study of mechanisms that will foster
the emergence of a market and technology for carbon
capture and storage.
The second is managing methane emissions in
the natural gas value chain. Natural gas can play a
pivotal role in the fight against climate change, notably
as a replacement for coal in power generation.
The third relates to improving energy efficiency
in the industrial sector. Each member company is
conducting initiatives in this area, but the OGCI’s role
is to identify technology that could be introduced on
a larger scale through a collaborative effort.
The fourth is energy efficiency in transportation.
In 2017 the OGCI will also be examining potentially
compatible options and technology for the longer term,
with an eye toward carbon neutrality in the second
half of the century.
1 BP plc, CNPC, ENI S.p.A., Petróleos Mexicanos, Reliance Industries Limited, Repsol SA, Royal Dutch Shell plc, Saudi Aramco, Statoil ASA.
INTEGRATING CLIMATE INTO OUR STRATEGY • 17
EMISSIONS
REDUCTION
The Multiplier
EffectOIL AND GAS CLIMATE INITIATIVE
CLIMATE
INVESTMENTS
OGCI $1 billion
in development
& demonstration
developing
partnerships
across sectors
deploying
successful
technologies
Creation of OGCI Climate Investments in 2016
In November 2016, the OGCI announced the creation
of a $1 billion partnership to finance technology that
substantially reduces emissions from energy production
and consumption. As of 2017 and for the next decade,
OGCI Climate Investments will be supporting start-ups
and projects that have the potential to reduce GHG
emissions significantly. The investments will back
projects for large-scale carbon capture, utilization
and storage (CCUS), reductions in methane emissions
across the natural gas value chain and energy efficiency
in transportation and industry. This funding is on top
of each company’s own programs on low-emissions
technology and will capitalize on the collective
resources and expertise of the OGCI’s member
businesses. OGCI Climate Investments expects to have
a multiplier effect by spurring investment from other
sources and encouraging members to adopt technology
made possible by the fund.
$1 billion
20%
The guaranteed minimum
investment pledged for
the next decade.
The share of the world’s oil
and gas produced by OGCI
members.
18 • INTEGRATING CLIMATE INTO OUR STRATEGY
INTERVIEW
At a time when reducing
greenhouse gas emissions is
a global priority, Bill Gates has
launched Breakthrough Energy
Ventures (BEV), a billion-dollar
investment fund. It will finance
cleaner technology to produce
low-carbon energy. We will
be mobilizing our expertise
in support of this new initiative,
and have been recognized
as a technological and strategic
partner to BEV.
What makes BEV special and
why could it become a key enabler
for the future of energy?
It’s hard to get any new technology
from the lab to the market. It’s
especially hard with energy,
because energy systems are so
slow to change and the incentives
aren’t always there. It takes a
combination of scientific vision
and practical experience building
companies. BEV is unique because
it has both the vision and the
experience. It’s assembling a team
of multidisciplinary scientists and
entrepreneurs to identify the ideas
that are most promising, technically
and commercially. BEV is also
bringing together a unique mix of
risk-tolerant and patient investors
who are committed to accelerating
the commercialization of new energy
technologies. Our investors are
knowledgeable and experienced,
and they bring extensive contacts
in energy and related fields. BEV
is eager to partner with research
institutions and companies —
like Total — that are delivering
reliable and affordable energy so
it can uncover the most promising
technologies.
What do you expect from Total
as a strategic partner to
your initiative?
Industry partners like Total
understand the energy business
better than anyone else. They know
how to deliver energy solutions
reliably and affordably at scale, and
they have the infrastructure to do so.
In many cases I expect that industry
partners will help scale and deliver
the new technologies that BEV
companies discover and develop.
And I hope they will provide insight
into which new technologies are
most likely to succeed in the market.
What could private companies,
in particular in the energy world,
do better to support the fight
against climate change?
By 2050, the world will be using 50%
more energy than it does today,
and it will need to meet that demand
with sources that don’t contribute
to climate change. That’s a big
challenge, but we can do it if the
world gets some big breakthroughs.
Governments, research institutions,
businesses, and private investors
all have a role to play. For the
private sector, that means taking
great research, turning it into a
great product, and creating a great
company to bring a transformative
technology to market. That’s a vital
piece of the solution that no other
part of our society can provide.
I encourage government leaders
to raise R&D budgets, but the issue
always needs more advocates
making the case. So in addition
to being partners in the work
itself, energy companies can be
great champions for governments
investing in energy R&D.
“ Industry partners
like Total
understand
the energy
business better
than anyone else.”
BILL GATES
Breakthrough Energy Ventures
INTEGRATING CLIMATE INTO OUR STRATEGY • 19
Taking
Action Today
Mindful of the part we play, we take action across
our value chain to reduce our impact on the climate
and promote the responsible use of energy.
What actions have we already implemented?
Where do we stand in relation to our objectives?
How are we taking into account the implications
of the 2°C scenario for the oil and gas market?
20 • INTEGRATING CLIMATE INTO OUR STRATEGY
Integrating Climate
Into Our Strategy
2°C ROADMAP
Deploying an assertive strategy in gas, while strictly limiting
methane emissions
Selecting and developing safe, environmentally responsible,
competitive oil and gas projects
Innovating and expanding in carbon capture,
utilization and storage technologies
Publicly supporting the implementation of carbon pricing mechanisms
Exiting the coal business
Encouraging sector initiatives and collectively engaging to address
climate issues
Improving the Carbon Intensity
of Our Current Production Mix
PP. 24-28
P. 30
P. 29
P. 14
P. 30
PP. 16-17
INTEGRATING CLIMATE INTO OUR STRATEGY • 21
Growing as a leading solar player
by expanding our activities along
the photovoltaic chain,
including distribution
Adding energy storage to our businesses
Developing bioenergies
Promoting access to energy
Continuing our efforts to reduce
greenhouse gas emissions
at our facilities
Providing solutions (products
and services) to encourage
responsible energy use
by our customers
Developing Renewable
Energies
Improving Energy
Efficiency
FOCUS ON TRANSPORTATION
Global warming, coupled with changing technology and usage, is irrevocably altering
every form of transportation. From cars and trucks to maritime and air transportation,
we have demonstrated a long-term commitment to finding concrete solutions.
PP. 39-44
P. 34 PP. 23 and 38
P. 36
P. 38
P. 37
P. 35
22 • INTEGRATING CLIMATE INTO OUR STRATEGY
An Ambition
Consistent with
the 2°C Scenario
OUR PRODUCTION MIX FOR 2035
Integrating climate issues into our strategy goes beyond
reducing emissions at our facilities. It also involves
gradually decreasing the carbon intensity of our
production mix. We take the 2°C scenario into account
in our strategy.
To do this, we compare the change in the carbon
intensity of our projected growth profile for primary
energy production to the change under the 2°C
scenario.
The carbon intensity of our primary energy production
mix, expressed in tCO2/toe, is the ratio between:
- Carbon emissions attributed to the energies in that
production mix.
- Production of those energies in response to global
energy demand.
According to the IEA in its World Energy Outlook 2016,
all CO2 emissions are attributable to fossil fuels.
To calculate the carbon intensity of Total’s energy
production mix, we use an emissions factor specific
to each type of primary energy, calculated on the basis
of IEA data. That emissions factor represents the ratio
of CO2 emissions to production of the type of energy
in question.
Carbon Intensity of Total’s Energy Mix
Compared With That of the IEA’s 2°C Scenario
0.00
2010 2015 2020 2025 2030 2035
0.50
1.00
1.50
2.00
2.50
3.00
3.50
2010-2016
- Exit from coal
- Increase in the share of natural gas
- Growth in renewables
2035 ambition:
Natural gas: 45-50%
Oil: 30-35%
Renewables: 15-20%t
C
O
2
/
to
e
o
f
p
ri
m
ar
y
en
er
g
y
IEA: Coal/Oil/Gas/
Biofuels/Wind/Solar
Total IEA full energy mix
The bottom curve shows the trajectory of the global energy mix as a whole.
The top curve shows the trajectory for energies that are comparable to our
business (coal1, oil, natural gas, solar, wind and biofuels).
Our 20-year ambition is to gradually reduce the carbon intensity of the energy
we produce and deliver to customers, through continued growth in natural gas
and renewables.
1 Coal was removed from Total’s energy mix in 2015, but is often compared to natural gas.
Our objective is to encourage the production of natural
gas over oil and to grow our share of low-carbon
businesses: midstream and downstream gas, renewable
energies and energy storage, energy efficiency, clean
fuels and carbon capture, utilization and storage (CCUS)
technology. We aim to have low-carbon businesses
account for close to 20% of our portfolio by 2035. Those
businesses will generate value in terms of the emissions
they prevent.
Promoting Low-Carbon Businesses
INTEGRATING CLIMATE INTO OUR STRATEGY • 23
Greenhouse Gas Emissions Down
23% Since 2010
OUR OPERATED SCOPE
For more than a decade, we have published
our improvement objectives and accomplishments.
This transparent reporting, backed by multiple
assessment tools, includes information on the results
obtained, any difficulties encountered and our future
actions.
In 2016, our direct greenhouse gas emissions amounted
to 39 MtCO2-eq in our operated scope, down 23%
from 2010. Of that total, 48% came from our
Exploration & Production segment and 51%
from our Refining & Chemicals segment. Our Marketing
& Services segment accounted for around 1%.
GEEI
Target
Routine Flaring (Mcu. m/d)
Group Energy Efficiency Indicator (GEEI)
70
75
80
85
90
95
100
105
110
Improvements in energy efficiency represent a further
source of emissions reduction.
In early 2016, we set a new target of an average 1%
per year improvement in the energy efficiency of our
facilities from 2010 to 2020, despite the increasingly
complex operating environment.
2010
100.0
2011
95.3
2012
98.9
2015
90.8 90
2016 2020
target
91.0
0
2010 2020
target
(-80%)
2030
target:
zero
1
2
3
4
5
6
7
8
2011 2012 2013 2014 2015 2016
2013
101.3
2014
100.0
We continue to cut greenhouse gas emissions in
our operated scope by focusing on two main areas.
First, we are reducing routine flaring in our production
activities. In 2000, we pledged that this practice would
be eliminated in new developments.
A member since 2002 of the Global Gas Flaring
Reduction (GGFR) Partnership, we worked with
the World Bank to create and launch the Zero Routine
Flaring by 2030 initiative bringing together oil and gas
companies, producing countries and international
institutions to support flaring reduction. We were the first
company to adhere to the initiative, in 2014. The interim
objective is to reduce routine flaring by 80% from
the 2010 baseline over the period 2010-2020.
0
24 • INTEGRATING CLIMATE INTO OUR STRATEGY
Natural Gas,
the Key Energy Resource
for Fast Climate Action
Natural gas — an abundant energy source — is the
best option currently available for combating climate
change while ensuring the world has access to the
energy it needs. Already accounting for nearly 50%
of our energy mix, natural gas is at the heart of our
ambition to be the responsible energy major.
A Solution for Today
Natural gas plays an important role in the optimal energy
mix envisaged in the IEA’s 2°C scenario. While the share
of oil and especially coal in the global energy mix is
expected to diminish between now and 20351, natural
gas will boost its share of the total to 23%, driven by
an approximately 15% increase in volume.
The reason is that natural gas emits fewer greenhouse
gases (GHG) than any other fossil fuel. According to
a CIRAIG2 study, life cycle GHG emissions from gas
during power generation are less than half those of coal.
Moreover, given its abundance and availability — the
current reserve life is estimated at more than 200 years
— natural gas is a vital adjunct to growth in renewable
energies, inherently intermittent resources.
But while natural gas is the backbone of the 2°C
scenario, it cannot be used to its full potential
unless certain environmental risks — such as the
methane emissions connected with its production
and transportation — are mitigated. We are wholly
committed to addressing this major environmental
challenge, and are sharing our expertise through
our role in the Climate & Clean Air Coalition, promoted
by UN Environment.
1 Oil is forecast to decline from 31% to 25%; coal, from 28% to 16%. Source: IEA, World Energy Outlook 2016.
2 “Life Cycle Assessment of Greenhouse Gas Emissions Associated with Natural Gas and Coal in Different Geographical Contexts,” October 2016.
Published by the International Reference Centre for the Life Cycle of Products, Processes and Services (CIRAIG), Polytechnique Montréal engineering school.
Natural gas rises from 35%
to nearly 50%
of our production mix.
We cease all coal production
operations, following the August sale
of our affiliate Total Coal South Africa.
We discontinue our coal
marketing operations.
We acquire Lampiris,
Belgium’s third-largest
natural gas and power
supplier.
2005-2015 2015 2016 2016
Milestones
INTEGRATING CLIMATE INTO OUR STRATEGY • 25
Supplying Affordable, Clean Energy
To supply the clean energy the world needs,
we are continuing to expand our gas production
and liquefaction capacity, which has doubled over
the past decade to position Total as a global leader in
liquefied natural gas (LNG). We are making a substantial,
ongoing investment in projects designed to further
boost our production of natural gas. By 2035, gas could
comprise as much as 60% of our overall output.
Concomitant with our investment in production
and liquefaction capacity, we are taking steps to expand
reliance on this clean, reliable energy source by making it
increasingly affordable worldwide. That includes, striving
to reduce technical and logistical costs to make natural
gas a more competitive option.
We are also investing downstream in the gas value chain
so as to keep pace with growing demand. In keeping with
our strategy of fully integrating all our activities, we are
developing new midstream and downstream businesses
that carry gas all the way to residential end users. With
our 2016 acquisition of Lampiris, we now market gas
and power to 1 million European consumers; through
our 2017 acquisition of PitPoint, we are the leading
provider of natural gas vehicle fuel in Europe. In emerging
marketplaces that have substantial electricity needs
but still face sizable challenges in reducing their carbon
emissions, we are expanding access to increasingly
competitive natural gas through our newly deployed
floating storage and regasification units (FSRUs).
We seal a strategic alliance
with Petrobras by signing definitive
contracts that give us access to Brazil’s
promising integrated natural gas
value chain.
Anticipated start-up of our first
floating regasification unit,
in Côte d’Ivoire.
Anticipated start-up of
a new FSRU in Pakistan, developed
by a consortium of which
we are a member.
2017 2017 2018 2018
Three major projects
in operation in 2017:
An LNG pioneer, we are now the
world’s second-largest private
LNG operator. We expect to increase
production from 11 million tons in 20161
to 20 million tons in 2020. Integrated
across the value chain, from production
through marketing, we have interests
in 11 liquefaction plants and reserved
regasification capacity in five terminals
worldwide.
9 Mt/year
7.2 Mt/year
16.5 Mt/year
Ichthys LNG, Australia
Gladstone LNG, Australia
Yamal LNG, Russia
1 Total’s equity production.
Total acquires
PitPoint, Europe’s
leading natural
gas vehicle fuel
provider.
26 • INTEGRATING CLIMATE INTO OUR STRATEGY
Switching to Natural Gas
from Coal for Power Generation
A CIRAIG1 study has confirmed that natural gas produces fewer carbon
emissions than coal during power generation, and that gas-fired
power plants offer superior efficiency as well. Coupled with added
operational flexibility, that makes gas a more competitive option
for producing electricity.
When burned to produce electricity, natural gas emits 50 to 60% less carbon
dioxide on average than coal. That’s a marked advantage in the fight against
climate change, but one that has often been downplayed when weighed
against the related methane emissions or energy used for liquefaction,
transportation and regasification.
So in 2015, we asked CIRAIG — an independent research organization
with special expertise in this issue — to perform a comparative life cycle
assessment of the various gas and coal supply chains used in power
generation.
CIRAIG’s final report, based on its analysis of emissions at each step
in the chain from extraction to consumption, was published in October 2016.
It found that greenhouse gas emissions from the use of natural gas were,
on average, half those of coal, even in the case of unconventional gas.
Thus, replacing coal with natural gas in power production worldwide
would prevent 5 Gt of CO2-equivalent worldwide, or 10% of anthropogenic
global emissions.
In addition, gas-fired power plants on average have a much faster restart
time and can build up to full capacity twice as quickly as coal-fired plants.
These advantages make natural gas an obvious partner for renewable
energy, until the latter’s variability can be offset by power storage capacity.
THE CIRAIG LIFE CYCLE
ASSESSMENT, A CERTIFIED STUDY
The CIRAIG Life Cycle Assessment is
ISO 14040 and 14044-certified. In other
words, it was critically reviewed by
independent, third-party examiners
(experts and manufacturers) before
being published.
Method: CIRAIG estimated life cycle
emissions of CO2-equivalent for several
production processes covering a large
portion of our gas business (conventional
and unconventional, onshore and
offshore, LNG, etc.) and compared them
with life cycle emissions for eight of
the most common coal processes. It also
conducted sensitivity analyses, notably
on methane’s global warming potential,
that confirmed the results indicated here.
1 “Life cycle assessment of greenhouse gas emissions associated with natural gas and coal in different geographical contexts,” October 2016.
Published by the International Reference Centre for the Life Cycle of Products, Processes and Services.
http://www.ciraig.org/en/v.php?id=450&locale=en&year=2016&type=2
INTEGRATING CLIMATE INTO OUR STRATEGY • 27
Investigating and Strictly Limiting
Methane Emissions
Methane is a greenhouse gas with a higher global warming potential
(GWP) than carbon dioxide. As a major player in the gas industry,
we at Total are taking steps to measure and mitigate methane
emissions more effectively.
Unlike CO2 emissions, which originate from a variety of combustion
processes, methane is released into the atmosphere primarily when energy
is lost or discharged for safety reasons. As a result, methane emissions
are easier to mitigate, provided those losses can be identified, measured
and addressed.
So we’re taking action, first by mobilizing in the field to educate employees
and to detect and reduce methane emissions in our operated scope. In this
way, we kept them below 0.5% of the natural gas produced in 2016. We’ve
also joined campaigns beyond our walls: for several years we have been
an active participant in international initiatives designed to improve methods
of measuring and mitigating methane emissions.
For example, Total is acting to eliminate routine flaring by 2030 as part of the
World Bank’s Global Gas Flaring Reduction (GGFR) Partnership. As a member
of the Climate & Clean Air Coalition (CCAC), we are also participating in the
Oil & Gas Methane Partnership1 to promote more effective measurement,
mitigation and reporting of methane emissions. Through our founding
membership in the OGCI, we are lending financial support for studies on
emissions measurement systems as well as for new technology — backed
by the organization’s new Climate Investments fund — for moving from
indirect to more accurate direct measurements of methane emissions.
1 Alongside BP, ENGIE E&P, Eni, Pemex, PTT, Repsol, Southwestern Energy and Statoil.
420,000 tCO2-eq
The total reduction in methane emissions in 2015 thanks to measures
adopted by the members of the Oil & Gas Methane Partnership.
Total’s GHG emissions
(operated scope)
Direct methane (CH4) emissions associated
with Total’s gas production
(operated scope)
N2O
1%
Diffuse
emissions
HFC
0.2%
Processes
CH4
Flaring
CO2
Venting
39 Mt CO2-eq
in 2016
Less than
0.5%
of all gas
produced
92%
6%
47%
16%
34%
3%
We discontinue routine
flaring on new projects.
An independent auditor
verifies Total’s environmental
and social indicators,
including methane emissions.
We join the Climate & Clean
Air Coalition and the Global
Gas Flaring Reduction (GGFR)
Partnership.
Results of methane
studies underwritten
by the Oil & Gas Methane
Partnership will be published.
2000 2005 2014 2019-2020
Milestones
28 • INTEGRATING CLIMATE INTO OUR STRATEGY
Providing Affordable
Natural Gas
As a plentiful resource with low emissions, natural gas can meet
the growing demand for electricity while helping numerous countries
respond to climate concerns. To bring natural gas to the widest possible
market at an affordable price, we are now developing several floating
storage and regasification units (FSRUs) for LNG, which reduce costs
substantially and help bypass logistical constraints.
Once extracted, natural gas must be transported to consumer markets that
are often far removed from the production site. In recent years, liquefied
natural gas (LNG) — a sector in which we have long been a leader —
has offered a solution to these logistical constraints. By cooling the gas to
-163°C, it can be liquefied and then shipped by LNG carrier to regasification
terminals connected to local distribution networks, anywhere in the world.
For countries that lack a domestic supply of natural gas and cannot invest
heavily in land-based terminals, we are currently developing floating storage
and regasification units, known as FSRUs. These units, moored to a docking
facility or out at sea, can be built new or by converting former ships, such as
LNG carriers.
The cost and environmental footprint of such a unit, not to mention its
time-to-deployment, are significantly reduced by comparison with an
onshore terminal. It takes one to three years to implement a floating solution,
versus four to six to build a land-based facility.
In Côte d’Ivoire, we will be helping to deploy an FRSU that, for the first time,
Total itself will operate. Once the unit starts up, currently set for mid-2018,
we can address the country’s skyrocketing energy demand1 while helping
it meet its environmental commitments and become West Africa’s first
regional LNG import hub.
A STRATEGY BUILT
ON PARTNERSHIP
In Côte d’Ivoire, we will be a member
of the CI-GNL consortium alongside
national companies PetroCI and
CI-Energies as well as SOCAR, Shell,
Endeavor Energy and Golar.
For a separate FSRU project in Pakistan,
we have joined forces with Höegh LNG,
Qatar Petroleum, Mitsubishi
and ExxonMobil to import LNG.
A FAST-CHANGING LNG MARKET
More than 20 units are already in
operation and nearly 70 projects are
currently under consideration worldwide,
with a third of those considered highly
likely. FSRUs are experiencing a boom
and shaking up the LNG market by
enabling countries to move quickly and
set up new import channels precisely
where energy demand is most acute.
1 Demand for electricity in Côte d’Ivoire is growing by 10% annually, and power generation will double between now and 2020.
INTEGRATING CLIMATE INTO OUR STRATEGY • 29
CCUS, Critical
to Carbon Neutrality
Technology for carbon capture, utilization and
storage (CCUS) plays a vital role in the International
Energy Agency’s 2°C scenario. We share that view
and are preparing a strategy to encourage advances
in CCUS technology, both on our own and through
partnerships.
In its 2°C scenario, the IEA assumes that 6 billion tons
of carbon will be captured and stored each year by 2050.
CCUS technology will be critical for meeting that goal and
indeed for achieving carbon neutrality during the second
half of the century. In the wake of COP21, 10 countries to
date have integrated CCUS into their climate regulations,
including four countries in the Middle East: the United
Arab Emirates, Saudi Arabia, Iran and Bahrain; several
other major energy producers: Norway, Canada and
South Africa; and the world’s biggest emitter of CO2,
China. There is widespread awareness of the issue, but
technological progress is essential if CCUS is to fulfill its
critical role in the IEA’s 2°C scenario.
We have been actively involved in this field for many
years and routinely examine any opportunity for storing
or reusing our CO2 emissions. Conducted between
2010 and 2013, the Lacq pilot project involved oxy-fuel
combustion capture followed by storage in a converted
reservoir. It helped us gain relevant expertise, notably in
designing a formal approval process for carbon storage.
Today, we are stepping up our efforts to treat our own
emissions while we also develop solutions that can be
applied in other sectors, such as power generation,
cement manufacturing and steelmaking. Accordingly, our
R&D budget for CCUS has tripled in just two years and
is expected to eventually account for 10% of our overall
R&D budget, excluding specialty chemicals R&D.
Our CCUS R&D strategy is two-pronged. One goal is
to improve existing technology in order to take quick,
concrete action; the second is to pursue upstream
research that could ultimately yield innovative new
solutions that are significantly more cost-effective
and less energy-intensive.
To cultivate these innovations, we have forged multiple
partnerships with universities and industry, and will
continue to open up our CCUS R&D. That commitment
includes participation in the Oil & Gas Climate Initiative,
which brings together 10 of the world’s largest oil and
gas companies. OGCI Climate Investments will earmark
approximately half of its funding for CCUS technology.
In 2017, we signed a Memorandum of Understanding
(MOU) with Norway’s Ministry of Petroleum & Energy,
Shell and Statoil to join that country’s Technology Centre
Mongstad. Operated by state-owned Gassnova, the
center has a capacity of 100,000 tons of carbon a year.
It also has industrial-scale facilities to improve carbon
capture processes and make them more reliable, while
cutting their costs and environmental impacts to ensure
the technology can be brought to market quickly.
In addition to developing more advanced, cost-effective
technology, we need to create the conditions in which
CCUS can thrive. In other words, we must convincingly
demonstrate the value of CCUS and propose support
mechanisms to ensure further progress. For that purpose,
collaboration — both between the public and private
sectors and across industries — is essential, and our
participation in the OGCI is consistent with that agenda.
Norway’s Sleipner project,
in which Total is a partner,
represents the natural
gas industry’s first major
advancement in carbon capture.
We conduct the Lacq pilot
project, which involves oxy-fuel
combustion capture followed
by storage in a depleted
reservoir.
The OGCI is established and
expects to allocate roughly half
of its Climate Investments
(created in 2016) funding
to CCUS technology.
We are preparing to conduct
carbon storage engineering
after a call for tenders
for an industrial-scale
project in Norway.
1996 2010-2013 2014 2017
Milestones
30 • INTEGRATING CLIMATE INTO OUR STRATEGY
A Resilient
Portfolio
Oil and gas — expected to meet over 40% of the world’s primary
energy needs in 2035 — remain a cornerstone of the IEA’s
2°C scenario. While always mindful of that prospect, we maintain
a resilient business portfolio.
We prioritize our projects as part of our growth strategy, focusing
on competitively priced production and processing assets that
meet the highest safety and environmental standards. This outlook
is simultaneously strategic and responsible, rooted in an agile
organization committed to providing energy that is cost-effective
(in terms of production, marketing, etc.), reliable and clean.
On that basis, in 2015 we decided to reduce our exposure
in Canada’s oil sands, which are costly to develop and operate.
In addition, we exited coal production in 2015 following the sale
of our affiliate Total Coal South Africa and discontinued all coal
marketing activities in 2016. We also chose to withdraw from China’s
coal-to-olefins (CTO) project for producing plastics from coal, since
it was no longer consistent with our ambition. As well, given the high
costs involved, Total has ruled out any future oil exploration
operations in the Arctic ice pack.
Furthermore, to ensure the viability of our projects and our long-term
strategy with regard to climate change issues, we apply an internal,
long-term carbon price of $30 to $40, depending on the oil price
scenario or the actual price if it is higher in a given country, when
evaluating our investments. This is consistent with our support for
initiatives to replace coal with natural gas in power generation and
our investment in R&D on low-carbon technologies.
1 Sensitivity calculated for a crude oil price of $60 to $80, compared to a reference scenario based on a carbon price in regions already covered by a carbon pricing scheme and,
effective from 2021, worldwide.
$30 to $40 per ton
This long-term carbon price, applied worldwide,
would have an impact of around 5% on the
discounted present value of Total’s upstream
and downstream assets1.
“The Stone Age came to an end,
not because we had a lack of stones,
and the oil age will come to an end not
because we have a lack of oil.”
GREATER SELECTIVITY
IN OIL PROJECTS
Sheikh Ahmed Zaki Yamani,
former Saudi Oil Minister, in an
interview with the Daily Telegraph
published on June 25, 2000
INTEGRATING CLIMATE INTO OUR STRATEGY • 31
1 Climatology and Simulation of Eddies Joint Industry Project.
2 Research Partnership to Secure Energy for America.
3 The global oil and gas industry association for environmental and social issues.
The models produced by the Intergovernmental Panel
on Climate Change (IPCC) anticipate increasingly
significant natural impacts over the coming decades
as the global temperature gradually increases.
We assess the vulnerability of our facilities to these
events, which include rising sea levels, hurricanes,
flooding and droughts.
In accordance with generally accepted practices, we take
the risk of natural disasters into account when designing
industrial facilities. These risks can be climate-related;
they can also include seismic, tsunami, soil strength
and other risks. Meteorological and, where applicable,
oceanographic measurements taken on site are
supplemented by satellite data and climate models.
These data are used to develop statistics describing
normal operating conditions and extrapolate extreme,
centennial and over 10,000-year conditions. Facilities
are designed to withstand both normal and extreme
conditions, by building in appropriate safety margins.
In addition, our internal procedures specifically call for
the systematic assessment of the possible repercussions
of climate change on our future projects. In-depth studies
are carried out when the potential risk is significant relative
to the existing safety margin. Our analyses include a
review by type of risk — sea level, storms, temperature
change and melting permafrost, among others. They also
take into account the life span of our projects and their
capacity to gradually adapt. To date, these studies have
not identified any facilities that cannot withstand
the consequences of climate change.
With our partners, we also conduct studies focusing on
a given region or topic. For example, through the CASE1
consortium, we took part in a study led by RPSEA2 on
how climate change affects hurricanes in the Gulf of
Mexico. We are also involved in the European Union
CLIM4ENERGY project to investigate the potential
effects of climate change on our North Sea platforms.
Additionally, we lead an IPIECA3 task force focused
on best practices and adapting oil and gas facilities
to climate risk. In April 2017, the task force hosted
a roundtable discussion among experts from a range
of industries. Their aim was to examine various aspects
of the issue, from climate change to water resources,
biodiversity and civil liability. This strategy of wider
dialogue helps us identify best practices and enhance
our internal policies.
Facilities That Can Withstand Natural Disasters
32 • INTEGRATING CLIMATE INTO OUR STRATEGY
Low-Carbon Businesses
to Become
the Responsible Energy Major
We are taking steps to gradually reduce the carbon
intensity of our energy production mix, and our
ambition is to have low-carbon businesses make up
close to 20% of our portfolio in 20 years’ time.
Sharply Rising Demand for Electricity
In light of demographic growth and the determination
to develop new solutions and practices in response
to climate change, demand for electricity will outpace
overall energy demand in the two decades to come.
We have several low-carbon options available for
meeting that need and at the same time reducing
reliance on coal — the most carbon-intensive fossil fuel
— and complying with the IEA’s 2°C scenario. Those
options include natural gas, improving energy efficiency
and developing renewable energies.
By 2035, renewable energies are expected to make
up a much greater share of the energy mix: more than
20%, compared to 9% currently. That trend will be led
by a surge in solar and wind power, which could easily
help replace coal in power generation, especially with
the emergence of high-performance energy storage
technology and other solutions for overcoming
the intermittent nature of those energy sources.
Gas, Renewables & Power, the Organization Leading
Our Low-Carbon Businesses
We have already recognized these inevitable trends,
as our new organizational structure proves.
The new Gas, Renewables & Power (GRP) segment
is spearheading our ambitions in low-carbon energy
through growth in the natural gas midstream and
downstream and in renewable energies, as well as
the field of energy efficiency.
With SunPower and Total Solar (see page 34), we are
active across the entire photovoltaic solar value chain,
from manufacturing photovoltaic cells to developing
utility-scale plants and installing solar home systems.
Moreover, in 2016 we acquired Saft, a leading provider
of energy storage solutions, and Lampiris, reflecting
our strategic expansion in gas and power marketing
activities.
In addition, we have made an active commitment
to partnerships that will accelerate the emergence
of solutions. Our participation in the OGCI together
with nine other major oil and gas companies, along with
our support for Breakthrough Energy Ventures, launched
by Bill Gates, are a testament to that commitment.
WHAT IS A “LOW-CARBON” BUSINESS?
Total’s low-carbon businesses include midstream and
downstream gas, renewable energies and energy storage,
energy efficiency, clean fuels and carbon capture,
utilization and storage (CCUS) technology. We aim to
have low-carbon businesses account for close to 20%
of our portfolio in 20 years’ time.
We acquire a majority stake
in SunPower, a world leader
in photovoltaic solar energy.
Ten major oil and gas
companies join forces
to create the OGCI.
We create a Gas, Renewables & Power
segment, acquire Lampiris and Saft,
and form a joint venture with Corbion;
OGCI Climate Investments is established.
Low-carbon businesses
are due to make up close
to 20% of our portfolio.
2011 2014 2016 2035
Milestones
INTEGRATING CLIMATE INTO OUR STRATEGY • 33
Acquisitions
That Exemplify
Our Low-Carbon Strategy
Our decision to integrate climate into our strategy is reflected in our
recent acquisitions. After an initial major acquisition involving an
interest in solar specialist SunPower in 2011, we have announced four
transactions since 2016 that reflect our determination to tackle the
challenge of climate change from multiple directions.
The battle against climate change must not only be fought collectively,
but also simultaneously on multiple fronts. During 2016 we made several
business acquisitions with that objective in mind.
In June 2016, we acquired Lampiris, Belgium’s third-largest supplier
of natural gas, green power and energy services such as insulation,
furnace maintenance, wood and pellets for heating, and smart thermostats.
As a result, we are now marketing natural gas and power to consumers (B2C)
as well as industrial customers (B2B).
In July we acquired Saft, the world leader in high-tech batteries for industry.
The deal complements our presence in solar power and also offers
a springboard for our expansion into electricity storage — a prerequisite
for growth in renewable energies.
Following these two acquisitions, both indicative of our desire to provide
broader access to clean, efficient energy, we announced a joint venture with
Corbion in November. That transaction makes us the world’s second-ranked
supplier of polylactic acid (or PLA, a 100% biobased polymer), and reaffirms
our commitment to bioplastics alongside our conventional hydrocarbon-
based products.
And in May 2017, we acquired PitPoint B.V., a Dutch company that is
Europe’s third-ranked provider of natural gas vehicle fuel (see page 43).
TOTAL ENERGY VENTURES, A SCOUT FOR TOTAL
Total Energy Ventures (TEV) identifies opportunities to collaborate with energy
start-ups and support their initiatives through equity investment. It’s opening the
door to innovations that could help us fulfill our top ambition: to supply the world
with affordable, reliable and clean energy. Since TEV was established in 2008,
it has evaluated some 2,500 companies and invested €150 million in more than
20 start-ups. In January 2017, that record led to our being named Corporate
Investor of the Year by the Global Cleantech 100 Program, which recognizes
the top 100 most innovative and promising cleantech start-ups.
1 million+
9%
75,000 tons
The number of Lampiris customers.
The share of its revenue that Saft allocates to R&D.
The annual production capacity of the PLA
polymerization plant operated by the Total-
Corbion joint venture in Thailand.
34 • INTEGRATING CLIMATE INTO OUR STRATEGY
Accelerating
the Solar Energy Transition
Abundant, renewable, clean solar energy will
be instrumental in the success of the IEA’s 2°C
scenario. Since our acquisition of SunPower in 2011
and the recent creation of Total Solar, we have been
channeling investment toward the deployment
of new production capacity and the development
of even more efficient technology.
The ability to meet rising demand for electricity over
the coming decades will hinge on the use of renewables
to generate power. Solar energy in particular is expected
to emerge as the primary source of electricity by 2050,
according to the IEA.
Solar has already shown exceptionally strong growth.
Installation of new capacity hit a record high in 2016
at 75 to 80 GW, surpassing the record of 58 GW set
the previous year. Alongside that rapid surge in capacity,
solar power is now more competitively priced: in some
regions the tariff can rival that of the most inexpensive
sources of power generation.
Governments need to preserve policies that encourage
renewables and spark the development of technology
to make them more reliable and competitive. At Total
we firmly believe in renewable energy, and despite
occasional market headwinds we have continued to
invest in developing new photovoltaic power generation
capacity. That includes SunPower with its utility-scale
projects in the United States and Mexico, as well as Total
Solar, which is focused on developing and operating
solar power production capacity and is already active
in South Africa, Japan and Chile.
With our 2016 acquisition of Saft, we are also investing
in energy storage technology, essential for integrating
renewables into the grid and developing solutions for
distributed generation. That’s because photovoltaic solar
energy is unique: it offers the prospect of distributed
power generation at the point of consumption,
without the need for a transmission or distribution
grid. We’re helping to usher in that paradigm shift with
high-efficiency cells for use in new solar home systems
connected to smart mini-grids that not only supply
cleaner energy, but also help consumers use that
energy more wisely.
EXPANDING THE USE OF SOLAR POWER
AT OUR OWN SITES
In the belief that distributed solar energy is the future of
power generation, we are investing heavily at our own
sites. We have begun installing solar solutions at several
dozen industrial sites and 5,000 of our service stations
worldwide, a project that will take five years. That’s
an ambitious objective, encompassing more
than 30% of our 16,000 service stations around the world
and representing an investment of about $300 million.
For the service stations alone, installed capacity will
near 200 MW and carbon emissions will be reduced
by 100,000 tons annually. In France, 800 of our retail
network’s 2,200 service stations will be equipped
with solar systems.
We acquire SunPower,
a global leader in photovoltaic
solar energy.
We launch Awango by Total,
the first program to market
distributed solar PV solutions.
Solar Star, the world’s largest photovoltaic
power plant with 1.6 million panels
and a capacity of 750 MW — enough
to supply 255,000 homes — comes on line
in California.
We begin installing
solar solutions at
5,000 service stations.
2011 2011 2015 2016
Milestones
1.6 GWp
Total has interests in operating renewables-based
power plants with a combined capacity of 1.6 GWp.
INTEGRATING CLIMATE INTO OUR STRATEGY • 35
Affordable, Reliable
and Clean Energy
Providing the widest possible access to affordable, reliable and clean
energy offers a powerful tool in the battle against climate change.
Since 2011 we have been marketing distributed solar solutions that
have transformed the day-to-day lives of more than 9 million people
in some 30 growth countries, primarily in Africa.
In some parts of the world1, access to energy is still an uphill battle.
Even when grids exist, they may not extend throughout the region,
and the energy they supply is sometimes unreliable.
Addressing that need is part of our climate strategy. Most energy demand
will come from countries whose current energy mix is carbon-intensive,
because of widespread reliance on biomass and diesel generators.
To meet that challenge, we are helping to create an investment fund that
will finance start-ups and innovative initiatives to expand energy access,
particularly in Africa. It plans to begin with an initial tranche of $50 million,
which could subsequently be increased to $100 million. Additional investment
is expected from qualified investors such as development banks and other
major institutions that share our ambition and standards in terms of offering
wider access to affordable, reliable and clean energy.
Prieska in South Africa:
200,000 panels, 75 MW,
75,000 homes.
We consolidate our operations for
developing solar energy production
capacity within Total Solar.
Santiago, Chile:
a 100 MW power plant
to supply solar power
to the city’s metro system.
Nanao in Japan:
80,000 panels, 27 MW annual
capacity, supplying power
to several thousand homes.
2016 2017 20182017
1 In Africa, 600 million people lack access to energy; worldwide, the number stands at more than 1.3 billion, according to the World Bank (http://data.worldbank.org/products/wdi).
By 2020,
25 million
those solutions are expected to reach
people.
36 • INTEGRATING CLIMATE INTO OUR STRATEGY
Saft, Offering Industrial
Solutions to the Climate
Change Challenge
Saft offers long-term solutions for reducing fossil fuel
consumption and carbon emissions. Its Li-ion1 batteries, for
example, are an essential component in smart grids: they help
improve power grid management and reduce the energy lost
during transmission and distribution — losses that can total
between 8 and 15% of the overall power generated.
In addition to being more energy-efficient, smart grids help
operators manage production peaks and troughs, a process
known as demand response, so that renewable energies —
which are variable by nature — can be integrated into the
grid more smoothly.
Saft’s high-efficiency batteries will also play a critical role
in reducing transportation-related carbon emissions by 40%
by 2030. Lightweight, space-saving Li-ion batteries can
meet the technical challenges posed by hybrid and electric
propulsion, not only in urban environments, but also at ports,
airports and industrial sites and in shipping. For example,
hybrid ships use Seanergy® battery systems to handle peak
power demand in critical situations and save 25% on fuel at
the same time. Saft is also one of the foremost suppliers of
batteries for rail projects in Asia, especially China. Through
its contract with Chinese rolling stock manufacturer CRRC,
Saft supplied the batteries for China’s first driverless subway
line, in Beijing. Saft currently commands 40% of the battery
market for subway systems in Southeast Asia and China, and
nearly 20% of the market for high-speed rail networks. It also
supplies batteries for electric buses in Gothenburg, Sweden,
and Hamburg, Germany (plug-in hybrid vehicles).
1 Li-ion batteries generate 40% fewer carbon emissions over their life cycle than lead acid batteries, and are designed to meet recycling requirements
without compromising performance.
INTEGRATING CLIMATE INTO OUR STRATEGY • 37
1 Used oil or waste oil: frying oil, residue from palm oil refining, animal fats, residue from pulp and paper manufacturing.
2 Vegetable oil: rapeseed, palm, soybean, sunflower.
3 IFP Energies Nouvelles: A French public center for R&D, innovation and education in the fields of energy, transportation and the environment.
The La Mède Biorefinery,
a Responsible Transformation
After solar energy, biofuels represent our most important avenue
of growth in renewables. Now, after producing biofuels for more
than 20 years and becoming Europe’s leading biofuels marketer,
we are transforming our La Mède crude oil refinery into a biorefinery.
Set to debut in 2018, the site will be France’s first world-class facility
of its kind, with the capacity to produce 500,000 tons of high-quality
biodiesel known as HVO.
The hydrotreated vegetable oil (HVO) produced at La Mède will be derived
from used oil1 and vegetable oil2. Its high quality stems from the fact that it
contains no oxygen and there are no limitations on its incorporation — unlike
fatty acid methyl ether (FAME), which cannot exceed 7% in diesel.
Once its transformation is complete, the site will also produce 25,000 tons
of bionaphtha per year, up to 60,000 tons of aviation fuel (avgas) and
50,000 cubic meters of AdBlue® additive for trucks, which cuts nitrogen oxide
emissions. The complex will be powered by an 8 MW solar farm
that uses SunPower technology.
NEW TECHNOLOGY
AND A NEW SUPPLY CHAIN
Axens markets the technology
developed by IFP Énergies Nouvelles3
that will be used to produce the HVO;
the new site is the first time that
the technology is being used on
an industrial scale.
Suez will collect up to 20,000 tons of
used cooking oil each year from the
biggest names in France’s food industry
for delivery to the La Mède site.
The partnership will increase the
amount of used oil collected in France
by more than 20%.
38 • INTEGRATING CLIMATE INTO OUR STRATEGY
Energy Efficiency:
Optimizing Energy Consumption
The ongoing search for gains in energy efficiency will
play a decisive role in making the IEA’s 2°C scenario
a reality. Both at our own sites and through the
services we offer our customers, we are developing
products and tools for using energy responsibly.
In early 2016, we set a new target of an average 1%
per year improvement in our energy efficiency from 2010
to 2020. Since 2010, our energy efficiency has improved
by nearly 9%.
We are also pursuing ISO 50001 energy management
certification as a mark of our energy cost control.
In 2015, our Leuna refinery in Germany obtained
certification, as did several Marketing & Services sites:
the Brunsbüttel bitumen plant in Germany and,
in France, the Solaize research center, the Saint-Martin-
d’Hères site, and seven depots and 193 service stations.
In the Exploration & Production segment, Total ABK
in Abu Dhabi was certified in early 2016. And at each
exploration and production site we are stepping up
our efforts by reducing routine flaring in our
production activities.
Innovation on Behalf of Our Customers
We have developed a comprehensive array of services
to help our customers manage their energy use more
effectively. These offerings draw on the expertise
of our affiliates that specialize in energy efficiency:
BHC Energy in France and TENAG in Germany. As a
result, we can offer services and solutions that include
energy audits, leading energy efficiency investment
projects, installing smart energy systems to manage and
reduce consumption, and leveraging demand response
capacity. Our recent purchase of a stake in AutoGrid
(see sidebar) will further expand our range of services.
We capitalize on innovative tools for monitoring power
consumption and consolidating energy performance.
At our Normandy site, for example, we have introduced
CBE, software designed by ProSim as part of the
ADEME1-Total Program. We are also assisting with
obtaining ISO 50001 certification. Similarly, our offerings
now include DIESTA, a compact compressed air-cooling
technology developed by a consortium made up of
Kelvion, Wieland and Technip. Its use reduces installation
costs and enhances energy efficiency.
In addition, energy management demands quality
products. Total Excellium fuels keep engines cleaner,
reducing air pollutant and carbon emissions. The
entire lineup has been awarded the Total Ecosolutions
label. Our Fuel Economy lubricant range improves fuel
efficiency by decreasing friction between engine parts.
Advances in energy efficiency come in a variety of forms,
from products and services to digital solutions.
DIGITAL SOLUTIONS FROM AUTOGRID
Total Energy Ventures, our venture capital arm for
investing in start-ups, acquired a stake in AutoGrid
in 2016. The California-based company has developed
a suite of energy internet applications that can balance
connected distributed energy resources, identify
and prevent problems, and optimize consumption
by meters, water heaters, electric vehicle (EV) chargers
and other equipment.
7%
The reduction in our net
primary energy consumption
between 2010 and 2016.
1 The French Environment and Energy Management Agency.
INTEGRATING CLIMATE INTO OUR STRATEGY • 39
LES SOLUTIONS DIGITALES D’AUTOGRID
Focus on
Transportation
Global warming, coupled with changing technology and usage,
is irrevocably altering every form of transportation.
From cars and trucks to maritime and air transportation, we
have demonstrated a long-term commitment to finding concrete
solutions to reduce the environmental and health consequences
of today’s transportation options.
40 • INTEGRATING CLIMATE INTO OUR STRATEGY
Transportation:
Offering a Balanced Response
to New Challenges
Climate change, the rise of new consumer habits
and services, growth in electric vehicles — mobility
is evolving in far-reaching ways that make it a key
component of the 2°C scenario outlined by the IEA.
The realm of transportation is evolving almost beyond
recognition, driven by three underlying trends. The first
is climate change and the need to combat global
warming by reducing carbon emissions. Closely
intertwined with that concern is the challenge to health
posed by worsening air quality in a growing number
of regions worldwide. In response, governments have
imposed quantified targets on the auto industry to
improve engine fuel efficiency and reduce pollutant
emissions. Those measures, applicable to every new
vehicle in the market, have yielded sharp reductions
in average fuel consumption as well as new powertrain
technology (electric, natural gas, hydrogen) designed
to minimize the impact on the environment.
Moreover, governments are promoting ecofriendly
policies by adopting stringent local standards, such
as California’s zero-emission vehicle program, or by
implementing travel demand management, especially
in large cities, with measures that include congestion
pricing, road space rationing and bans on older cars.
Major urban centers, which suffer acutely from
congestion as well as industrial and automotive
pollution, are in the forefront of efforts to find more
sustainable forms of transportation. While such policies
are especially visible in the area of road transportation,
they have counterparts in maritime and air
transportation as well (see following pages).
Another critical factor is the emergence of new forms
of transportation, driven by the large-scale embrace
of information technology. More than just passing trends,
these new options are revolutionizing consumer
practices, as the traditional model of car ownership
is supplanted by an array of transportation services.
They include ride sharing (BlaBlaCar) and ride hailing
(Uber) — services that reduce the number of cars on
the road but not necessarily the number of miles driven.
Meanwhile, new technology and the explosion in big
data herald the arrival of connected cars, which
are radically changing conventional wisdom about
automobiles. They include a host of services that mine
driving data to analyze user needs; for example, drivers
can be offered lower insurance premiums based on their
driving statistics. Other features include geolocation
services and the use of digital technology to aid drivers.
The culmination of this trend is self-driving cars, an idea
whose time has come. They won’t be adopted on a
large scale until we see major regulatory changes and
broader consumer acceptance. But the technology
is mature, and a market is taking shape.
We at Total are playing a key role in this fast-changing
environment, by providing automakers with extremely
energy-efficient products, quality services and
innovative materials, by developing alternative fuels,
and by supporting the wider use of electric vehicles
(see following pages).
INTEGRATING CLIMATE INTO OUR STRATEGY • 41
Although they still represent just 0.1% of all cars
on the road today, these are boom times for electric
vehicles. Their success can be attributed to the steadily
dropping price of batteries coupled with an increased
driving range, not to mention regulatory requirements
that mandate lower emissions for new vehicles.
Under the IEA’s 2°C scenario, there could be as many as
450 million electric cars1 in use worldwide by 2035,
representing 25% of cars on the road and 39% of sales.
Over the same time period, the number of cars in the
world is expected to increase to 1.8 billion vehicles,
compared to 1 billion in 2016.
Based on figures from the IEA, we estimate that in 2016
transportation consumed approximately 55 million
barrels of oil per day. Under the 2°C scenario, the shift
to electric vehicles would reduce demand for oil by some
4 million barrels per day by 2035. That’s a significant
decline, but on its own it will not offset rising demand
for petroleum products led by more cars on the road,
especially in emerging marketplaces; the higher number
of trucks and buses; and expanded air and sea traffic.
So efforts must continue to improve engine energy
efficiency and increase the use of alternative fuels,
including natural gas. With help from our quality
products and R&D, we intend to play a prominent role
in this transition to more sustainable transportation.
Electricity and Oil:
Partners in Energy
1 Battery Electric Vehicles (BEVs) and Plug-In Hybrid Electric Vehicles (PHEVs).
42 • INTEGRATING CLIMATE INTO OUR STRATEGY
Our Initiatives
From passenger cars to buses, trucks and maritime
transportation, how are we demonstrating our
commitment to reducing the environmental and
health consequences of today’s transportation
options? Here’s a round-up of recent progress
and areas of R&D.
Passenger Cars: The Synergies Between Internal
Combustion Engines and Electric Motors
Improving Energy Efficiency in Existing Cars
There are currently more than 1 billion internal
combustion vehicles on the road worldwide.
It’s unrealistic to assume those engines could be
replaced with other energy sources overnight.
Therefore, improving internal combustion engine
performance is shaping up as a major challenge.
Total Excellium fuels, which have earned the Total
Ecosolutions1 label, are helping to improve the existing
fleet of these vehicles. Enhanced with our specially
engineered additives, Total Excellium products offer
average energy savings of 1.1 to 2.7%, depending
on the vehicle, and corresponding reductions in carbon
emissions. These fuels are currently available
in 57% of our service stations around the world —
that’s more than 9,000 of our 16,000 retail outlets.
Total also develops and markets lubricants for the
manufacturing and automotive sectors. Products with
the Total Ecosolutions label can reduce consumption by
anywhere from 1 to 2.2% and thereby passenger car
carbon emissions as well.
In addition, biofuels represent an essential tool for quickly
cutting carbon emissions from transportation. We have
been producing biofuels for more than 20 years and
are the top marketer in Europe today.
Elastomers are another available resource. Hutchinson,
a wholly owned Total affiliate, has been building expertise
in elastomers for 160 years. Its know-how has made
it a world leader in vibration control, sealing and fluid
management systems and insulation. That expertise
translates to numerous sectors, including the auto
industry, a ready market for Hutchinson’s proven
advancements in weight reduction for aerospace.
Hutchinson also designs innovative materials that collect
data or energy, offering the potential for integrated
solutions that improve connected car performance and
make transportation safer, more comfortable and more
energy efficient.
We also encourage ride sharing programs and have
signed a partnership with BlaBlaCar in France, offering
drivers discounts on car washes or fuel after their first
ride share.
Electric Cars: Constructing a Network
In 2017, electric vehicles will account for more than 0.1%
of cars on the road. To encourage that trend, the major
sticking point to be addressed is charging stations.
Most owners slow charge their electric cars at a private
location (home, office, etc.) during a lengthy period
of time when they are otherwise occupied. But for
occasional long-distance travel that requires an extended
driving range, owners will need a much faster charge.
As part of our power distribution business, we’re aiming
to play a visible role in meeting both of these charging
needs. In the latter case, we are focusing on building
a regional network of 300 outlets across Europe,
dotted along major roads and highways: more than
1,000 charging stations in all, located about
150 kilometers apart so as to cover all of France,
Germany and the Benelux countries. Electric vehicles
will primarily be used for short distances; motorists who
typically make longer journeys will continue to choose
vehicles with internal combustion engines. So both forms
of energy should coexist or work in tandem in plug-in
hybrid vehicles.
1 www.ecosolutions.total.com/en
INTEGRATING CLIMATE INTO OUR STRATEGY • 43
POLYMERS FOR CLEANER,
LIGHTER-WEIGHT VEHICLES
Polymers are taking on a larger role in the automotive
industry, notably as a replacement for other materials.
They have the virtue of being both recyclable and lighter
in weight. Polypropylene body parts trim 100 kilograms
off the weight of a standard vehicle, reducing fuel
consumption by 0.4 liters per 100 kilometers and carbon
emissions by 10 grams per kilometer. Our products
include polymers derived from catalysts, processes and
formulations developed in-house. They provide superior
performance for both the car’s interior and exterior, with
cutting-edge properties for creating lighter, slimmer
components.
We have partnered with PSA Group to achieve several
breakthroughs that draw on Total fuel and lubricants
as well as lighter vehicle bodies designed to cut fuel
consumption. One result: a demonstrator that can travel
100 kilometers on just 2 liters of fuel.
Trucks: Natural Gas, a Viable
and Accessible Alternative to Diesel
Today’s market for trucks and commercial vehicles is
dominated by diesel fuel. But new alternatives are already
in use, the best of which is natural gas vehicle fuel,
recognized as one of the most responsible fossil fuels.
Powertrain technologies using this fuel are 50% quieter
than diesel engines and compliant with the Euro 6
emission standards for trucks. Natural gas vehicle fuel
therefore offers an alternative to diesel for a wide variety
of applications in the trucking industry.
Natural gas vehicle fuel comes in two forms:
- Compressed natural gas (CNG), which can be used
in any vehicle from passenger cars to trucks; it is
especially suited to city buses and garbage trucks,
and gives trucks a range of 300 to 550 kilometers.
- Liquefied natural gas (LNG), which is particularly
suited to long-haul trucks.
As one of the world’s biggest natural gas operators,
we have positioned ourselves in this sector and now
operate roughly 450 natural gas vehicle fueling stations
in Asia, Africa and Europe.
Our first natural gas vehicle fueling station in France
opened in July 2017. We expect to open another 15 this
year and approximately 10 a year thereafter, under the
Total and AS 24 brands (the latter is a Total affiliate that
markets fuel to transporters). In May 2017, to expedite
our move into this sector, we acquired Dutch firm PitPoint
B.V., Europe’s third-largest provider of natural gas vehicle
fuel with a network of 100 stations. The company is also
involved in biogas, hydrogen and electric vehicle charging
points for road and maritime transportation. Our goal is
to operate 350 outlets by 2022, which will make us the
leader in the European natural gas vehicle fuel market.
3%
The increase in the number of passenger cars
worldwide by 2035, according to the IEA.
While rates of car ownership have plateaued
in the OECD countries, demographics
combined with rising aspirations to mobility
in Asia and Africa will boost sales.
44 • INTEGRATING CLIMATE INTO OUR STRATEGY
Maritime Transportation: Natural Gas to Ensure
Regulatory Compliance
Air Transportation: Biojet Fuel
for Scheduled Flights
International regulations, specifically those of
the International Maritime Organization, impose tight
restrictions on pollutant emissions in maritime shipping.
Our specialized marketing affiliate, Total Marine Fuels
Global Solutions, offers a variety of solutions for complying
with those restrictions. They include liquefied natural
gas (LNG), which offers numerous advantages from an
environmental standpoint, including significantly reduced
carbon emissions, negligible sulfur oxide (SOx) emissions
and substantially decreased nitrogen oxide (NOx)
and fine particulate matter emissions.
We aim to build a competitive international LNG bunkering
network, and we’re securing access to major ports as part
of that strategy. Under a memorandum of understanding
signed in April 2017, Pavilion Energy will provide Total
Marine Fuels Global Solutions with LNG that it can supply
to its marine fuel clients in the port of Singapore. We have
also concluded an agreement with Brittany Ferries to
provide its newbuild LNG ferry with LNG bunker. In
addition, we have signed a memorandum of understanding
with CMA CGM, the world’s third-largest shipping
company, to broaden its current fuel supply to include
a complete line of multifuel solutions, including fuel oil
with a sulfur content of 0.5%, fuel oil with a sulfur content
of 3.5% for ships equipped with exhaust gas cleaning
systems, or scrubbers, to reduce polluting emissions
before they are released to the atmosphere, and LNG.
Between now and 2030, the number of air passengers
is likely to double from 3 billion to 6 billion per year1.
To combat climate change, the air transportation sector
has set a goal of halving its net greenhouse gas emissions
from the 2005 baseline by 2050. Biojet fuel will ultimately
be critical for meeting that goal, along with other drivers
including load factor and engine efficiency.
We have ambitious research programs under way in this
area, with Amyris and BioTfueL, among others. We have
also taken part in a number of demonstration programs,
including Air France’s Lab’line for the Future flights
between Paris and Toulouse and flights to deliver Airbus
A350s to Cathay Pacific. By 2018 we expect to be able
to produce biojet from hydrotreated vegetable oil (HVO)
at our La Mède biorefinery, which will have a capacity
of 500,000 tons a year.
1 International Civil Aviation Organization (ICAO), Air Navigation Report 2015.
HYDROGEN COUNCIL:
JOINING FORCES TO PROMOTE HYDROGEN
Hydrogen offers vast potential as an energy carrier:
it can be used to produce storable energy and emits zero
carbon emissions when used as a fuel. We have been
actively studying hydrogen for more than a decade.
In January 2017, we were one of 13 leading companies
from the energy, transportation and manufacturing
sectors to form the Hydrogen Council. The goal of the
initiative is to place hydrogen at the forefront of the future
energy mix. The members of the Hydrogen Council
confirmed their ambition to accelerate their investment
in developing and commercializing the hydrogen and fuel
cell sectors from its current level of e1.4 billion.
Incorporating 1% biojet
for flights worldwide would
require 2.5 million tons
of biojet fuel per year,
or five facilities on the scale
of La Mède.
INTEGRATING CLIMATE INTO OUR STRATEGY • 45
Our
Figures
As part of our continuous improvement process, we report
our results publicly.
We rely on best reporting practices that make it easier
for stakeholders to assess our performance.
46 • INTEGRATING CLIMATE INTO OUR STRATEGY
Reporting Frameworks
IPIECA Climate
Change Reporting
Framework
CDP Climate Change
Questionnaire (2017 version)
Integrating Climate Into Our Strategy
- May 2017, Total
Page
TOPIC 1
CLIMATE CHANGE
POSITIONS, POLICIES
OR PRINCIPLES
CC2.2. - CC2.2a-c
Foreword by Patrick Pouyanné
The 2°C Objective: Challenges Ahead for Every
Form of Energy
Oil and Gas Companies Join Forces
An Ambition Consistent with the 2°C Scenario
Natural Gas, the Key Energy Resource
for Fast Climate Action
Low-Carbon Businesses to Become
the Responsible Energy Major
Transportation: Offering a Balanced Response
to New Challenges
05
12
16
22
24
32
40
TOPIC 2
RESPONSIBILITIES
AND
ACCOUNTABILITIES
CC1.1 - CC1.1a - CC1.2 - CC1.2a
Foreword by Patrick Pouyanné
Three Questions for Patricia Barbizet
Integrating Climate Into Our Strategy
05
09
20
TOPIC 3
STAKEHOLDER
ENGAGEMENT
APPROACHES
CC2.3 - CC2.3a-f - CC4.1
Carbon Pricing, the Key to Achieving
the 2°C Scenario
Oil and Gas Companies Join Forces
Bill Gates Interview
14
16
18
TOPIC 4
IMPLICATIONS OF
SHIFTING ENERGY
SUPPLY/DEMAND
AND CLIMATE POLICY
CC2.2 - CC2.2a - CC2.2b
OG1.7 - OG1.7a
Switching to Natural Gas from Coal
for Power Generation
A Resilient Portfolio
Acquisitions That Exemplify Our Low-Carbon
Strategy
Accelerating the Solar Energy Transition
Affordable, Reliable and Clean Energy
Saft, Offering Industrial Solutions
to the Climate Change Challenge
The La Mède Biorefinery
Focus on Transportation
26
30
33
34
35
36
37
40
TOPIC 5
CORPORATE RISK
MANAGEMENT
APPROACHES
CC2.1 - CC2.1a-c - CC3.3c
CC5.1 - CC5.1a c - CC6.1
CC6.1a-c - OG1.7 - OG1.7a
A Resilient Portfolio 30
1 The cross-reference table above is based on (a) the Climate Change Reporting Framework of IPIECA (the global oil and gas industry association for environmental and social
issues), the pilot version of which was published in December 2015, with the final version to be published during 2017 following the public comment period; and (b) the CDP’s
Climate Change questionnaire (Total’s full response to the questionnaire for 2016 will be published on our website, www.total.com, in early July 2017).
Cross-Reference Table1
INTEGRATING CLIMATE INTO OUR STRATEGY • 47
IPIECA Climate
Change Reporting
Framework
CDP Climate Change
Questionnaire (2017 version)
Integrating Climate Into Our Strategy
- May 2017, Total
Page
TOPIC 6
EMISSIONS
MITIGATION
STRATEGIES,
PROGRAMS,
INITIATIVES
AND ACTIVITIES
CC3.1 - CC3.1a-e - CC3.2
CC3.2a - CC3.3 - CC3.3a-c
CC12.1 - CC12.1a - CC12.2
CC12.3 - CC14.3 - CC14.3a
CC14.4 - CC14.4a-b - OG4.1-4.8
OG5.1-5.2 - OG6.1-6.3 - OG7.3
OG7.3a - OG7.6 - OG7.6a
OG7.7 - OG7.7a-b
An Ambition Consistent with the 2°C Scenario
Greenhouse Gas Emissions Down 23% Since 2010
Investigating and Strictly Limiting Methane
Emissions
Providing Affordable Natural Gas
CCUS, Critical to Carbon Neutrality
Energy Efficiency: Optimizing Energy
Consumption
22
23
27
28
29
38
TOPIC 7
ADDRESSING GHG
REGULATION
CC13.1 - CC13.1a-b - CC13.2
CC13.2a
Carbon Pricing, the Key to Achieving
the 2°C Scenario
14
TOPIC 8
RESEARCH AND
DEVELOPMENT
CC3.3c - OG6.3
CCUS, Critical to Carbon Neutrality
Energy Efficiency: Optimizing Energy
Consumption
29
38
TOPIC 9
HISTORICAL
PERFORMANCE
DATA
CC7.1-7.4 - CC8.1-8.5 - CC9.1
CC9.1a - CC9.2 - CC9.2a-c
CC10.1 - CC10.1a - CC10.2
CC10.2a - CC11.3 - CC12.1
CC14.1 - OG2.1-2.4 - OG3.1-3.3
Indicators 45
TOPIC 10
ASSURANCE CC8.6 - CC8.6a - CC8.7 - CC8.7a
CC8.8 - CC14.2 - CC14.2a
Assurance Total’s
Registration
Document
p. 175
48 • INTEGRATING CLIMATE INTO OUR STRATEGY
Indicators
Unit 2010 2011 2012 2013 2014 2015 2016
SCOPE 1
Absolute direct greenhouse gas emissions
(operated scope)
Mt CO2-eq 51.6 46.3 47.0 46.0 44.3 41.8 39.4
BREAKDOWN BY SEGMENT
Upstream (E1-C3)1 Mt CO2-eq 26.0 22.1 23.4 23.5 22.1 19.3 19
Refining & Chemicals (E1-C3) Mt CO2-eq 25.4 24.0 23.4 22.3 22.0 22.3 20.2
Marketing & Services (E1-C3) Mt CO2-eq 0.2 0.2 0.2 0.2 0.2 0.2 0.2
BREAKDOWN BY REGION
Europe (E1-C3) Mt CO2-eq 25.6 23.8 22.8 22.1 21.2 22.3 19.9
Africa (E1-C3) Mt CO2-eq 16.0 11.9 14.2 14.7 14.2 11.6 12.0
Americas (E1-C3) Mt CO2-eq 3.7 3.9 3.7 3.7 3.8 3.8 3.8
CIS and Asia (E1-C3) Mt CO2-eq 3.7 3.4 3.5 3.6 3.8 3.3 3.7
Middle East (E1-C3) Mt CO2-eq 2.4 3.3 2.8 1.9 1.3 0.8 0
BREAKDOWN BY TYPE OF
GREENHOUSE GAS (EXCLUDING HFCs)
CO2 (E1-C1) Mt CO2-eq 47.6 43.1 43.5 43.5 41.3 38.9 36.4
Methane – CH4 (E1-C1) Mt CO2-eq 2.8 2.6 2.8 2.0 2.5 2.3 2.4
N2O (E1-C1) Mt CO2-eq 1.2 0.6 0.7 0.5 0.5 0.5 0.4
SCOPE 1
Direct greenhouse gas emissions
based on equity share
Mt CO2-eq 59 53 53 51 54 50 51
SCOPE 2
Indirect emissions (E1-S1)
Mt CO2-eq 5.4 5.5 4.4 4.3 4.1 4.0 4.0
SCOPE 32
Other indirect emissions – Use by customers
of products sold for end use (E1-S2)
Mt CO2-eq 440 430 430 430 430 410 420
Net primary energy consumption
(operated scope) (E2-C1)
TWh 157 158 159 157 153 153 146
Group Energy Efficiency Indicator
Base 100 in
2010
100.0 95.3 98.9 101.3 100 90.8 91.0
Total daily volume of flaring (operated
scope) (E4-C1) (includes routine, start-up,
operational and safety flaring)
Mcu.m/d 14.5 10.0 10.8 10.8 9.8 7.2 7.1
Of which routine flaring Mcu.m/d 7.5 5.6 5 4.2 3.4 2.3 1.7
1 The references provided in parentheses refer to the 2015 edition of the Oil and Gas Industry Guidance on Voluntary Sustainability Reporting published by IPIECA, API and IOGP.
E(x) refers to an environmental indicator. C(x) refers to a common reporting element. S(x) refers to a supplemental reporting element.
2 We comply with the petroleum industry value chain methodologies published by IPIECA, which are consistent with those in the GHG Protocol. In this document, only
Category 11 of Scope 3 (Use of sold products), which is the most significant, is reported. Emissions for this category are calculated based on sales of finished products
for subsequent end use, i.e., combustion of the products to obtain energy. A stoichiometric emissions factor (oxidation of molecules into carbon dioxide) is applied to those
sales to obtain a volume of emissions.
INTEGRATING CLIMATE INTO OUR STRATEGY • 49
Glossary
Units of Measurement
b barrel
B or G billion
boe barrel of oil equivalent
CO2-eq CO2 equivalent
eq equivalent
Gt billion tons
GW gigawatt
k thousand
M million
Mboe/d million barrels of oil equivalent per day
Mcu. m million cubic meters
t metric ton
TWh terawatt-hour
Acronyms
CCUS Carbon Capture, Utilization and Storage
CNG Compressed Natural Gas
CSR Corporate Social Responsibility
FSRU Floating and Storage Regasification Unit
IOGP International Association
of Oil & Gas Producers
IPCC Intergovernmental Panel
on Climate Change
IEA International Energy Agency
LNG Liquefied Natural Gas
OECD Organisation for Economic Co-operation
and Development
OGCI Oil & Gas Climate Initiative
R&D Research and Development
USD Official abbreviation of the United States
dollar
Definitions
Greenhouse Gases (GHG)
The six gases named in the Kyoto Protocol:
carbon dioxide (CO
2), methane (CH4), nitrous oxide (N2O),
hydrofluorocarbons (HFCs), perfluorocarbons (PFCs)
and sulfur hexafluoride (SF6), with their respective Global
Warming Potential (GWP), as described in the 2007
IPCC report.
Life Cycle Assessment (LCA)
A standardized method for assessing and quantifying
the environmental impact of a product or service.
A life cycle assessment is used to identify and quantify
the physical flows of matter and energy associated
with human activity at every stage of the product’s life,
evaluating the potential impact of those flows
and interpreting the results. In particular, it can be used
to compare two products for an identical service.
Operated Scope
The activities, sites and assets operated by Total S.A.
or a company it controls, i.e. those that Total or
a Total-controlled company operates or is contractually
responsible for managing operations: 808 sites
at December 31, 2016.
Operational/Non-Continuous Production Flaring
All flaring other than continuous or safety flaring.
It is usually sporadic and carried out at high intensity for
a short duration. It may occur on a planned or unplanned
basis. It includes flaring carried out during temporary
(or partial) failures of equipment used to process gas
during normal operations and lasts until the equipment
has been repaired or replaced.
Routine Flaring
Flaring during normal oil production operations
in the absence of sufficient facilities or amenable geology
to reinject the produced gas, utilize it onsite, or dispatch
it to a market. Routine flaring does not include safety
flaring, even when the latter is continuous.
Safety Flaring
Flaring carried out to ensure safe operations on facilities.
Start-up Flaring
Commissioning new oil or gas production facilities
generally takes several weeks. Flaring during this
phase can take the form of each of the types of flaring
mentioned above, until normal production starts.
50 • INTEGRATING CLIMATE INTO OUR STRATEGY
More
Total offers a sustainability reporting and information process
outlining our corporate social responsibility. In addition to
the Registration Document, all reporting information on this topic
is now available on our Sustainable Performance website. All of
our publications and the latest news and reports can still be found
on our corporate website, total.com.
The Registration Document presents our activities
and the financial statements for the year just ended.
In application of France’s Grenelle II Act, social,
environmental and societal information is reported
in Section 7. This information is audited by an
independent third party.
www.total.com/en/media/publications
In May 2016, Total created a dedicated website for CSR
reporting that we regularly update and enhance.
The website focuses on all of the CSR and sustainability
issues we deal with, including safety, climate change,
environmental protection, ethics, human rights and
community engagement, and includes our policies,
information on our initiatives and performance
indicators for each issue. It also makes our response
to environmental, social and governance (ESG)
reporting standards available to the public.
www.sustainable-performance.total.com
Registration Document
Sustainable Performance
INTEGRATING CLIMATE INTO OUR STRATEGY • 51
Printing
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Ecolabel-certified paper was produced in an ISO 14001-
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Disclaimer
This report, from which no legal consequences may be
drawn, is for information purposes only. The entities
in which Total S.A. directly or indirectly owns interests
are separate legal entities. Total S.A. shall not be held
liable for their acts or omissions. The terms “Total,”
“Total Group” and “Group” may be used in this report
for convenience where general reference is made
to Total S.A. and/or its affiliates. Similarly, the words
“we”, “us” and “our” may also be used to refer to
affiliates or to their employees.
This document may contain forward-looking information
and statements that are based on business and financial
data and assumptions made in a given business,
financial, competitive and regulatory environment.
They may prove to be inaccurate in the future and are
subject to a number of risk factors. Neither Total S.A.
nor any of its affiliates assumes any obligation to
investors or other stakeholders to update in part or in full
any forward-looking information or statement, objective
or trend contained in this document, whether as a result
of new information, future events or otherwise.
Additional information concerning factors, risks and
uncertainties that may affect Total’s financial results
or activities is provided in the most recent Registration
Document, the French-language version of which is filed
with the French securities regulator Autorité des Marchés
Financiers (AMF), and in Form 20-F filed with the United
States Securities and Exchange Commission (SEC).
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Total is a major energy company committed to supplying affordable energy to
a growing population, addressing climate change and meeting new customer
expectations.
These commitments guide what we do. With operations in more than
130 countries, we are a global integrated energy producer and provider, a
leading international oil and gas company, and a major player in solar energy
with Total Solar and our affiliate SunPower. We explore for, produce, transform,
market and distribute energy in a variety of forms, to serve the end customer.
Our 98,000 employees are committed to better energy that is safer, cleaner,
more efficient, more innovative and accessible to as many people as possible.
As a responsible corporate citizen, we focus on ensuring that our operations
consistently deliver economic, social and environmental benefits.
Our ambition is to become the responsible energy major.
total.com
Corporate Communications
Total S.A.
2 place Jean-Millier
92400 Courbevoie, France
Tel.: +33 (0)1 47 44 45 46
Share capital: €6,207,262,032.50
Registered in Nanterre: RCS 542 051 180
www.total.com
Integrating Climate Into Our Strategy
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