The shareholders' newsletter #66 - Summer 2021

Chairman’s message by Patrick Pouyanné

CHAIRMAN’S MESSAGE

© Khanh Renaud

TotalEnergies puts sustainable development, in all its dimensions, at the heart of its strategy, its responsible business model and therefore its projects and initiatives to contribute to the well-being of people.

Patrick Pouyanné
Chairman and Chief Executive Officer of TotalEnergies

Dear Shareholders, 

A great many of you followed the Annual Shareholders’ Meeting that I may even call “historic”, because it marks our collective desire to transform your company into a broad energy company and a major player in the energy transition, whose strategy is anchored in its very name: TotalEnergies.

You have almost unanimously voted in favor of our new name, and the vast majority over 90% of you supported TotalEnergies’ ambition for sustainable development and the energy transition to carbon neutrality and the related objectives defined for 2030, which demonstrates your confidence in the sincerity of our commitment.

Meeting the energy needs of a growing world population while limiting global warming is the twofold challenge that informs TotalEnergies’ raison d’être and mission, which is to provide more affordable, more reliable and cleaner energy to as many people as possible.

TotalEnergies puts sustainable development, in all its dimensions, at the heart of its strategy, its responsible business model and therefore its projects and initiatives to contribute to the well-being of people.

That requires that we reinvent energy that we reinvent the way we produce energy but also the way we consume energy in order to achieve carbon neutrality by 2050, together with society.

TotalEnergies has the resources, the scale, and above all the skills of its 100,000 employees on which to draw in order to successfully play its role in the energy revolution now under way.

Our new identity is symbolic of the energy journey on which TotalEnergies has embarked to help reinvent energy: oil, gas, electricity, hydrogen, biomass, wind and solar. 7 energies, like the seven colors of the rainbow in our new logo, in which TotalEnergies will invest to serve its customers.

We are going to transform ourselves, with strong ambitions for profitable growth, since we want to produce 30% more energy over the next decade: an increase from 17 petajoules (PJ) per day to 23 PJ per day. 50% of the growth will come from gas and 50% from renewables because, in order to gradually reduce the average carbon footprint of the energy products we sell, we need to make a firm shift in our portfolio to carbon-free energies, especially electricity. Alongside that, our petroleum product sales will decrease by over 30% over the next ten years.

Half of our yearly capital expenditure is devoted to growth our future: 50% dedicated to renewables and electricity and 50% to our other businesses, notably liquefied natural gas. In doing so, we are positioning ourselves on the two fastest-growing energy markets, power production from renewable sources and LNG. The other half of our capital expenditure is devoted to maintaining the Company’s traditional businesses from which we draw the bulk of our cash flow in other words, our present. Today's energies, oil and gas, are financing tomorrow’s energies.

We are convinced this strategy will be a source of value creation; value that is shared with our employees, our host States and with you, our shareholders. We want you to be proud to invest in a company that has resolutely embarked on the energy transition and is taking on its responsibility to be a world leader in combining adaptation/anticipation and profitability.

I would also like to thank the new shareholders who have joined us, since the number of individual shareholders has risen from 450,000 to 550,000 in one year.

I thank you for your ongoing trust and loyalty.

Patrick Pouyanné 
Chairman and Chief Executive Officer of TotalEnergies