TotalEnergies announces scaling back low-carbon investment
"TotalEnergies scales back on low-carbon investment as profits slump", 06 February 2025
"TotalEnergies has announced it is adjusting its strategy for 2025 by cutting back on investments in low-carbon energy, while marking a 26 percent drop in profits for 2024.
On Wednesday, the energy giant reported net earnings of over $15.6 billion – a notable decline from previous years – but still ranking among its highest returns in history...
The move follows a broader trend among European energy providers, with Shell, BP, and Equinor also stepping back from aggressive renewable energy expansion....
Despite cutting green investments, TotalEnergies has rewarded shareholders, announcing a 7.6 percent dividend increase for 2024 and confirmed $8 billion in share buybacks for the year...."