To help fight climate change, France’s Total commits to leaving some fossil fuels in the ground.
The sun sets on drilling (Image: Pexels)
One of the world’s biggest oil companies is factoring global goals for combating climate change into its multi-decade business plan.
French oil giant Total acknowledged in a report released Tuesday that “a part of the world’s fossil fuel resources cannot be developed” if nations are to fulfill the Paris climate accord agreement to hold global temperature increases to 3.6 degrees Fahrenheit.
The company stood by a 2015 decision to reduce investments in oil production from Canadian tar sands, adding that it confirmed at that time “that we do not conduct oil exploration or production operations in the Arctic ice pack.” Total first announced its position on Arctic drilling in 2012, according to Reuters.
Total’s leaders are “trying to link their strategies and investments to climate decisions,” said Alexander Shestakov, the director of the World Wildlife Fund’s global Arctic program.
“That’s a positive sign coming from one of the world’s oil majors.”
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