Total SA, in what it describes as a consolidation of its efforts to address climate change, will support initiatives of the United Nations Global Compact, the World Bank, and the Climate and Clean Air Coalition (CCAC).
The company said it supports the Global Compact’s call for companies to consider an internal carbon price in investment decisions. Total has factored a carbon price of €25/tonne into its investment decisions since 2008 and supported the gradual introduction of policies “that incorporate climate considerations into markets without distorting competition.”
The company also has pledged to join the World Bank’s planned Zero Routine Flaring by 2030 Initiative. A member of the bank’s Global Gas Flaring Reduction Program since 2004, it has reduced routine gas flaring at production sites by 40% since 2005.
And Total is joining the CCAC, an industry-based partnership promoted by the UN Environment Program and Environmental Defense Fund that aims to improve measurement, management, and mitigation of methane emissions.