PARIS — TotalEnergies CEO Patrick Pouyanne fired back at critics on Wednesday, defending the company’s strategy despite mounting pressure to cut fossil fuel production. Pouyanne’s comments come in the wake of a protest at TotalEnergies’ annual general meeting, where French riot police deployed tear gas to disperse climate activists.
Speaking to reporters after the tumultuous meeting, Pouyanne firmly stood by the company’s current direction, emphasizing the role of fossil fuels in meeting global energy demand. He argued that a sudden shift away from fossil fuels would be impractical and that TotalEnergies was taking steps towards a more sustainable future.
“Life is like it is,” Pouyanne said, suggesting that while change was necessary, a complete abandonment of fossil fuels was not feasible in the short term. He highlighted TotalEnergies’ investments in renewable energy and electric vehicle charging infrastructure as evidence of the company’s commitment to transitioning to a lower-carbon future.
The CEO acknowledged the concerns of climate activists and emphasized the importance of dialogue, but cautioned against a binary view of the energy transition. Pouyanne argued that TotalEnergies had a responsibility to shareholders and employees to remain financially viable while addressing climate change.
“We are investing more and more in renewable energy, but we also must meet the needs of the current energy mix,” Pouyanne stated. He emphasized the importance of natural gas in reducing emissions, citing the company’s investment in liquefied natural gas (LNG) as a bridge to a low-carbon future.
Pouyanne’s defense of TotalEnergies’ strategy comes at a critical time, as pressure on the fossil fuel industry increases. Climate activists and environmental groups are ramping up their calls for corporations to drastically reduce their carbon footprint and align with the Paris Agreement targets.
In response to the protest at the annual general meeting, TotalEnergies stated that it respected the rights of activists to voice their concerns but condemned any acts of violence or disruption. The company maintained its commitment to engaging in constructive dialogue with stakeholders and finding common ground for sustainable solutions.
TotalEnergies is not the only energy major facing criticism and pushback from climate activists. Earlier this month, a Dutch court ruled that Royal Dutch Shell must reduce its carbon emissions by 45% by 2030 compared to 2019 levels. This landmark case has amplified calls for other oil and gas companies to be held accountable for their contributions to climate change.
While TotalEnergies’ CEO defended the company’s strategy and commitment to a lower-carbon future, the pressure to accelerate the energy transition continues to mount. The interplay between corporate interests, shareholder demands, and climate action activism remains a complex challenge that industry leaders must grapple with. As debates surrounding the future of energy intensify, finding a delicate balance between profitability, sustainability, and environmental stewardship may prove to be the ultimate challenge for TotalEnergies and its counterparts.