Total, a French multinational oil and gas company, has rebranded its name to TotalEnergies in a move to diversify towards renewable energy sources.
According to a statement by Total, the decision was made following approval of the resolution presented by its board of directors at a ordinary and extraordinary shareholders’ meeting on Friday.
The oil giant had earlier announced its planned rebranding in February, saying that the name (Total Energies) would symbolise Total’s “new commitment to be a leader in a world with more energies and fewer emissions”.
It said the company would have to go through “a genuine transformation” to meet its net zero target by 2050 by investing more in solar and wind power projects.
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Closing the shareholders’ meeting, Patrick Pouyanné, chairman and CEO of TotalEnergies, said : “I would like to thank our Shareholders for their almost unanimous support on our new name, TotalEnergies, that anchors our strategy in our identity, as well as for their support by a very large majority, more than 90%, on the resolution on the Company’s ambition with respect to sustainable development and energy transition towards carbon neutrality and its related targets by 2030.
“The shareholders voted by a very large majority in favor of this resolution because they perceive the real transformation process in which the company is engaged and have made this vote a support of a bold and demanding strategy.
“This very strong support also means a great demand and a huge commitment for us, the women and men of TotalEnergies.
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“This transformation into a broad energy company that places sustainable development at the heart of its strategy, its projects and its operations is a transformation that will mobilize the entire company.
“The reality is that TotalEnergies is becoming one of the most active players in the energy transition”.
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