"France’s Total quits top U.S. oil lobby in climate split"

" \n France\u2019s Total SE on Friday became the first major global energy company to quit the main U.S. oil and gas lobby due to disagreements over its climate policies and support for easing drilling regulations. \n \n\n \n Total said it would not renew its 2021 membership with the American Petroleum Institute (API) following a review of the lobby\u2019s climate positions, describing them as being only \u201cpartially aligned\u201d with its own. \n \n\n \n The high-profile departure from the most powerful energy lobby comes ahead of sweeping changes in policy direction in the United States, with incoming President Joe Biden promising to tackle climate change and bring the country to net-zero emissions by 2050. \n \n\n \n \u201cAs part of our climate ambition made public in May 2020, we are committed to ensuring, in a transparent manner, that the industry associations of which we are a member adopt positions and messages that are aligned with those of the Group in the fight against climate change\u201d, Total Chief Executive Patrick Pouyann\u00e9 said. \n \n\n \n The withdrawal highlights a widening rift between Europe\u2019s top energy companies, which over the past year accelerated plans to cut emissions and build large renewable energy businesses and their U.S. rivals Exxon Mobil Corp and Chevron Corp that have largely resisted growing investor pressure to diversify. \n \n\n \n Chevron has no plans to leave the API, company spokesman Sean Comey said. Exxon was not immediately available for comment. \n \n\n \n The announcement puts pressure on Total\u2019s European rivals BP and Royal Dutch Shell to follow suit after resisting the move in recent years. \n \n\n \n BP, Shell and Norway\u2019s Equinor on Friday said they are reviewing memberships in trade organizations and how they align on climate-related issues. Shell spokesman Curtis Moore said \u201cAPI is moving closer to Shell\u2019s own stated views\u201d on climate change. \n \n\n \n European oil companies have in the past pointed to the API\u2019s role in formulating industry safety and operating standards as their rationale for remaining with the group. \n \n\n \n However, in its reasons for leaving the group, Total cited the API\u2019s support for last year\u2019s rollback of U.S. regulation on emissions of methane, its differing views on pricing carbon, as well its lack of support for subsidies for electric vehicles. \n \n\n \n The API thanked Total for its membership, but noted that it does not support subsidies for energy, saying it distorts markets. \n \n\n \n \u201cWe believe that the world\u2019s energy and environmental challenges are large enough that many different approaches are necessary to solve them, and we benefit from a diversity of views,\u201d the API said. \n \n\n \n The group has defended its record on tackling carbon emissions, noting that the industry\u2019s technological advances have helped it cut carbon dioxide and methane emissions rates in large oil-producing regions. \n \n\n \n Total last year announced plans to cut its carbon emissions, with the aim of reaching net zero emissions from its operations and its energy products sold to customers in Europe by 2050 or sooner. \n \n\n \n Total\u2019s operations in the United States include a number of offshore oil and gas fields in the Gulf of Mexico, a major refining and petrochemical plant in Port Arthur, Texas, as well as renewable energy businesses. The company produced about 343,000 barrels of oil equivalent per day in the third quarter in the Americas. \n \n\n \n SIGNIFICANT MOVE \n \n\n \n Growing investor pressure has spurred Europe\u2019s top energy companies to outline plans to curb emissions and boost renewable energy output. \n \n\n \n \u201cThere is simply no justification for any association with lobby groups who roll back emissions regulations and undermine urgent climate action,\u201d said Jeanett Bergan, head of responsible investment at KLP, Norway\u2019s largest pension fund, which manages $80 billion in assets. \n \n\n \n Total, BP and Shell have already pulled out of the American Fuel & Petrochemical Manufacturers (AFPM), a U.S. oil refining group, also due to differences over climate policies. \n \n\n \n The withdrawal from API was more significant, said Andrew Logan, director for oil and gas programmes and clean energy investor group CERES, said the announcement was significant and would put pressure on other European oil majors. \n \n\n \n \u201cGiven the size and influence of API, this is a much more significant move than previous decisions to pull out of more niche trade groups like AFPM. I think that we will see other companies follow suit,\u201d Logan said. \n "

"France’s Total quits top U.S. oil lobby in climate split"

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