Total to rebrand as ‘Total Energies’

French oil major Total has unveiled plans to rebrand as ‘Total Energies’ in a move designed to underpin its strategy to become a net zero emissions company by 2050 or earlier. The proposal is to be put to shareholders.

The company also has a three-stage plan to reduce emissions for energy products used by its European customers by 60% by 2050 or sooner, targeting a 15% average reduction by 2030 and 35% by 2040.

Total is planning to spend 20% of its investment budget for 2021 on renewables, up from around 15% in 2020.