In a bid to reinvent the energy sector, giant energy firm, TOTAL ENERGIES reimagined its strategy that led to change of its name previously.
Talk of Energy companies dominating across the globe, and I am sure you won’t miss the French giant, Total SE. A few months back TOTAL SE, announced a change of its name to TotalEnergies as the company moves to the lead of world’s top five in renewables by 2030. In tandem with this name change, Mr Patrick Pouyanné, Chairman and Chief Executive Officer of TotalEnergies said TotalEnergies was adopting a new visual identity. An extract of his speech below clearly gives what the secret behind TOTALENERGIES was about;
‘’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 favour of this resolution because they perceive the real transformation process in which the company is engaged and have made this vote 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. 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.” He said,
In a statement issued by the company and posted on its website on May 28, 2021, after the resolution of the Board of Directors at the Ordinary and Extraordinary Shareholders’ meeting, held on Friday, May 28, 2021, by the oil and gas firm in Paris, France, said the shareholders approved, almost unanimously, the resolution to change the company’s name from Total to TotalEnergies, thereby anchoring its strategic transformation into a broad energy company in its identity.
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TOTAL is a broad energy company that produces and markets energies on a global scale: oil and biofuels, natural gas and green gases, renewables and electricity.
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TOTAL is also active in more than 130 countries, TotalEnergies puts sustainable development in all its dimensions at the heart of its projects and operations to contribute to the social welfare, economic development and environmental protection.
“Energy is reinventing itself, and this energy journey is ours. Our ambition is to be a world-class player in the energy transition. That is why Total is transforming and becoming TotalEnergies.”
– Pouyanne, te CEO,
TOTAL SE has recently emerged as one of the front runners among oil and gas firms in terms of embracing renewable energy, with a 100 gigawatts gross target for 2030 that is among the largest of any player globally. In a further release, the company communicated that it will allocate 20% of net investments to renewables and “low carbon power” for the years ahead. That should equate to over $2.4 billion, up from $2 billion in 2020. That has already seen it take big positions in solar in the US, Spain and India, and in offshore wind in the UK and most recently Taiwan and many other countries in Africa.
“This new name and new visual identity embody the course TotalEnergies has resolutely charted for itself; that of a broad energy company committed to producing and providing energies that are ever more affordable, reliable, and clean,” – A statement posted on its website further said.
“Energy is life. We all need it and it’s a source of progress. So today, to contribute to the sustainable development of the planet facing the climate challenge, we are moving forward, together, towards new energies. Energy is reinventing itself, and this energy journey is ours. Our ambition is to be a world-class player in the energy transition. That is why Total is transforming and becoming TotalEnergies. Discover the elements of our transformation on: totalenergies.com/energy-is-reinventing-itself” An awareness notice video further states from their website.
https://youtu.be/XrVU-4q3snw
Energy experts say oil companies are rebranding fast to send a message to the public and investors about their commitment to change business models to prepare for a low-carbon future. Energy is what the world is made of and in my opinion, this reinvent of its future is a great move as spear headed by TOTAL SE – now TotalEnergies.
In September 2021, via the Reuters, in Paris, TotalEnergies officials said that the company expected a big rise in renewable-based electricity, solar and wind forms of energy, partly due to a general increase in electrification in the industrial and business world. They added that they expected that oil in general would plateau before 2030, while natural gas would continue to play a role as a transition fuel.
This possibly gives an awakening insight behind the self-reinvention of the company – Predicting and positioning for the lucrative renewable energy future.
