‘Life is like it is’: TotalEnergies CEO defends strategy despite calls to cut fossil fuel production
The chief executive of TotalEnergies defended the firm’s greenhouse gas emissions strategy, saying the company remains committed to oil and gas despite repeated warnings that increasing fossil fuel production will only make matters worse.
Speaking to CNBC’s Dan Murphy in Vienna, Austria on the sidelines of an OPEC conference, TotalEnergies CEO Patrick Pouyanne said Wednesday that the company had allocated nearly one-third of its capital expenditure to low-carbon technologies, with the remainder spent on oil and gas.
“We are in both pillars, and we will remain on both pillars [for a long time],” Pouyanne said.
“Today, our society requires oil and gas … Why we are together, it is 80% of fossil fuels. There is no way to think that overnight we can just eliminate all that and rely only on 10% of low-carbon energy. It will take decades to build a new system,” he added.
“So, we must do two things: To continue to produce the oil and gas, [while] of course being very strict on the emissions. The question is not fossil fuels, it is emissions, to lower the emissions.”
His comments come just over one month after French riot police fired tear gas at hundreds of climate activists trying to prevent the firm’s annual general meeting. Activist groups had pledged to try to stop the shareholder meeting from taking place to denounce the group’s fossil fuel expansion plans.
TotalEnergies CEO Patrick Pouyanne said the company had allocated nearly one-third of its capital expenditure to low-carbon technologies, with the remainder spent on oil and gas.
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The burning of fossil fuels, such as oil and gas, is the chief driver of the climate emergency. The world’s leading climate scientists, collated by the U.N.’s Intergovernmental Panel on Climate Change, have said tackling the crisis requires “immediate and deep emissions reductions across all sectors.”
The IPCC’s message, which was approved by governments across the globe, underscored the need for a substantial reduction in fossil fuel use to curb global heating, now at 1.1 degrees Celsius above pre-industrial levels.
U.N. chief Antonio Guterres, meanwhile, has warned that investing in new fossil fuel infrastructure is “moral and economic madness” and such investments will come to be seen as “a blot on the landscape and a blight on investment portfolios.”
‘Huge challenge’
TotalEnergies’ Pouyanne acknowledged criticism from climate campaigners that the company has not moved quickly enough to accelerate the energy transition, but said the “huge challenge” was to reconcile the security of supply with affordability and sustainability.
“If we don’t invest enough, the [oil] price will not be $75 per barrel, it will be $150 or $200 and all consumers will be super unhappy and our life will be a nightmare,” Pouyanne said.
“So … producing with strict new standards demonstrating that we can produce oil and gas in a very smart way with lower emissions. At the same, we invest in the new low-carbon energy, and we do it in a large way.”
He described the spike in energy prices in 2022 as a “catastrophe” following Russia’s full-scale invasion of Ukraine.
“So, let’s keep this balanced. It’s difficult. I know the scientists told us you should forget [fossil fuels] — but life is like it is. We must make that transition at the pace which can be accepted by the society. That’s also one condition of the success.”
Oil industry should set carbon targets at COP28
The protest at TotalEnergies’ AGM on May 26 came at a time of palpable frustration among climate activists during the proxy voting season, with demonstrations also taking place at British oil majors BP and Shell after an extraordinary run of record profits across the industry.
Investors at TotalEnergies’ shareholder meeting ultimately rejected an activist resolution calling on the company to align its climate targets with the landmark Paris Agreement and commit to absolute carbon emission cuts by 2030.
The resolution, filed by Dutch actvist shareholder group Follow This and 17 institutional investors with 1.1 trillion euros ($1.2 trillion) under management, received 30% of the vote, up from 17% the last time a similar vote was held in 2020.
Protesters outside the Salle Pleyel venue in Paris could be heard chanting “all we want is to knock down Total” and “one, two, three degrees, we have Total to thank.”
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Asked how the company can seek to convince skeptical observers following a shareholder rebellion over TotalEnergies’ greenhouse gas emissions strategy, Pouyanne replied: “I didn’t see a shareholder revolt. No, I saw an NGO revolt, which is not the same.”
“We have to respect the ideas of everybody,” Pouyanne said. “The point is that we have a strategy which is exposed to our shareholders — by the way, if I am listening to most of my shareholders, I think I would do more oil and gas and maybe less green. So, we try to find the right balance. Maybe we don’t satisfy everybody.”
TotalEnergies, which aims to become a net zero company by 2050, has pledged to reduce emissions from all of its products by 40% in 2030.
Pouyanne called on the world’s oil and gas companies to set targets to reduce emissions from methane, a potent greenhouse gas, at the COP28 climate summit — which will be held in the United Arab Emirates later in the year.
He also urged the oil and gas industry to adopt targets to cut greenhouse gas emissions from their own operations, known as Scope 1 and Scope 2 emissions, by 2030 at the U.N. summit. The vast majority of emissions, however, are generated by customers’ use of an oil major’s oil and gas, known as Scope 3 emissions.
California-based B2U Storage Solutions is building a new battery energy storage facility east of San Antonio, Texas – and it’s going to be powered by used EV batteries.
The Bexar Corrilla project in Bexar County is B2U’s third grid storage site and its first in Texas. When complete later this year, it’ll have 24 megawatt-hours (MWh) of capacity and plug directly into San Antonio utility CPS Energy’s distribution system. B2U will repurpose around 500 end-of-life EV battery packs, housed in 21 modular cabinets, to store and dispatch power to the Texas grid.
The company has already deployed over 40 MWh of used EV batteries as battery storage in California. Its tech skips the expensive and energy-intensive remanufacturing process, thanks to a patented plug-and-play system that connects the batteries directly to the grid. The system’s certified to UL 9540 safety standards and uses AI to manage real-time power trading.
So why Texas? The state’s grid is notoriously volatile, and demand for backup is rising fast with more renewables and people plugging in. Batteries like these can help stabilize things when transmission can’t keep up.
B2U’s CEO Freeman Hall says the Texas expansion “is a significant strategic milestone” and shows how repurposed EV packs are becoming a go-to solution for grid and industrial-scale energy storage.
Over the next year, the company plans to build three more projects in Texas, bringing its total footprint in the state to 100 MWh. Add in its California solar + storage sites, and B2U expects to hit 150 MWh of repurposed EV batteries on the grid by mid-2026.
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Honda’s luxury brand is teaming up with The Nature Conservancy (TNC) to electrify its fleet of vehicles. Acura donated 75 electric ZDX SUVs, its largest vehicle donation to date, to support the mission. The new EVs will be used to get to and from remote conservation sites.
Acura donated 75 ZDX EVs to The Nature Conservancy
Acura is donating 75 ZDX SUVs to The Nature Conservancy (TNC) this year through its dealership network across the US.
The fleet will be used to support the organization’s missions, including fieldwork, community engagement, and conservation efforts in rural and remote areas.
As part of their +30-year partnership, Honda is donating another $1 million to expand charging options and support TNC’s transition to EVs.
Over 30 years ago, Honda and TNC collaborated for the first time to preserve the Big Darby Creek. Since then, the automaker has invested over $1 million to protect the aquatic system.
“The donation of these vehicles has significantly accelerated our efforts to electrify our fleet, reducing our carbon footprint and setting a powerful example of climate leadership,” Daniel Salzer, director of sustainability at The Nature Conservancy, said after receiving the donation.
The ZDX is the luxury brand’s first all-electric vehicle, and it’s been a surprise hit so far in the US. It’s currently one of the best-selling premium EVs in the US.
Through the first half of 2025, Honda has sold 10,355 Acura ZDX models, surpassing the Cadillac Lyriq, which is also based on the same Ultium platform.
The company is selling even more than it expected. Mike Langel, Acura’s president of national sales, told Automotive News earlier this year that the luxury brand expected to sell around 1,000 ZDX models a month in 2025.
Acura has offered some of the most generous discounts of any electric vehicle, reaching nearly $30,000 off in some states.
According to CarsDirect, the electric 2024 Acura ZDX A-Spec AWD is available to lease for as low as $299 per month.
The offer is for 24 months with $3,999 due at signing, but is limited to California, New York, Oregon, and other select states. The A-Spec AWD variant offers a range of 313 miles, while the RWD model has an EPA range rating of 304 miles. Honda’s electric SUV, the Prologue, is listed for lease starting at just $259 per month.
Looking to test one out for yourself? We can help you get started. You can use our links to find Acura ZDX and Honda Prologue models in your area.
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The new and improved IONIQ 6 is smarter, more stylish inside and out, and can drive even further. With nearly 350 miles of driving range, the new Hyundai IONIQ 6 now leads as Korea’s longest-range domestic EV.
Hyundai’s new IONIQ 6 leads Korea’s longest-range EV
Hyundai’s electrified streamliner is back and better than ever. The IONIQ 6 has received its first refresh since its launch three years ago in September 2022.
The new IONIQ 6 features Hyundai’s 4th-generation batteries, unlocking nearly 350 miles (562 km) driving range on a single charge. That’s the longest among domestic electric cars in Korea, beating the Kia EV4, which has a range of up to 341 miles (549 km).
Hyundai fine-tuned the exterior fastback design for maximum efficiency. With a drag coefficient of just 0.21, it’s the most aerodynamic of any Hyundai, Kia, or Genesis vehicle.
Although still based on Hyundai’s “Mindful Cocoon” concept, the interior has been improved based on customer feedback. It now features a refined center console and incorporates “luxurious materials” into the three-spoke steering wheel and door trim.
Hyundai added new features, including a new Air Conditioning Occupancy Detection function. The system, a first for a Hyundai vehicle, can detect passengers and adjust the AC system.
Another new feature is Smooth Mode, designed to reduce motion sickness by providing less sensitive acceleration and deceleration.
The new IONIQ 6 is available with two battery options: 63 kWh and 84 kWh. With a range of up to 272 miles (437 km), the updated standard range model offers over 43 miles (70 km) more driving range. The extended-range battery is rated at 349 miles (562 km) range.
A Hyundai Motor Company official said, “The New Ioniq 6 is equipped with a 4th generation battery, securing the longest driving range among domestic electric vehicles.”
Despite the larger battery, the IONIQ 6 can still recharge from 10% to 80% in just 18 minutes with a 350 kW fast charger.
Hyundai launched the updated EV in Korea on Monday, priced from 48.56 million won ($35,000). That’s for the base E-Value+ standard range model.
The long-range Exclusive trim starts at 55.15 million won ($40,000) while the flagship Prestige N Line variant will run you 61.32 million won (61.32 million won). With government and local subsidies, Hyundai said the actual purchase price will be lower.
To celebrate the ultra-long-range capabilities of the new IONIQ 6, Hyundai is launching an ad campaign titled “the beginning of a new trend” in Korea.
For those in the US, Hyundai is expected to launch the new IONIQ 6 in early 2026. The current model is already rated with an EPA-estimated range of 342 miles.
With the updates, we could see it top 350 miles EPA-estimated range. Like the 2025 IONIQ 5, it’s also expected to arrive with a built-in NACS port to charge at Tesla Supercharger.
What are your thoughts on the updated model? Do you like the changes or does the IONIQ 6 still need some tweaking? Let us know in the comments.
Looking to test out Hyundai’s EV for yourself? With new models on the way, Hyundai is offering some sweet deals on its current lineup. The 2025 IONIQ 6 is available for lease starting at $169 per month. The 2025 IONIQ 5 may be an even better bet at just $179 per month. You can use our links below to find Hyundai’s electric vehicles near you.
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