The reasons for this decision in detail :
The news that reached us this morning would probably have created a real shock in the oil world a few years ago. Indeed, Total is one of the world's biggest majors and its decision to turn its back on one of the world's biggest oil lobbies may come as a surprise. But the French group has put forward climatic reasons to justify this decision.
For example, the oil group Total has now emerged from the American Petroleum Institute, which is, it should be remembered, the main professional oil organisation in the United States and which supports environmental deregulation. In particular, the API has recently made a name for itself by opposing the Paris Agreements on the environment.
Created in 1919, this American oil industry lobby is first and foremost an institution that has governed much of the history of the United States.s history of fossil fuels in North America by putting forward ideas to US Presidents on the regulations to be adopted to favour this sector of activity.
While it is of course difficult to imagine an American oil major leaving this organization, the French giant did not hesitate to make this choice. Indeed, it was on January 15 that Total announced its decision not to renew its membership for 2021.
A decision which marks the ecological turning point of the group:
Of course, Total's decision has been widely welcomed by environmental advocates and responsible investors who see it as much more than an announcement. Indeed, the French oil company explains that each year it reviews the climate positions of the associations of which it is a member and that the API was no longer in line with the group's vision on several points, including the rethe API was no longer aligned with the Group's vision on several points, including the regulation on methane emissions, which Total opposed in November 2019, opposition to support for electric vehicles and differences in position on oil prices.
But that's not all! Total also denounced the API's support for candidates who had spoken out against US support for the Paris Accords. After the decision of Joe Biden whose nomination begins today, the CEO of the group, Patrick Pouyanné, expressed himself on this subject by explaining : "As part of our Climate Ambition published in May 2020, we have committed to ensuring that the professional associations to which we belong carry positions and messages aligned with those of the Group in the fight against global warming. This is an essential guarantee of the credibility of our strategy".