Total SE Wants To Change Its Name To TotalEnergies SE So The World Takes Its Energy Transition More Seriously
Total SE’s board of directors met on March 17, 2021 to affirm the date of the company’s annual shareholder meeting on May 28, 2021. Key decisions leading up to the meeting include the support of the transformation of Total into a broad energy company, its commitment to the energy transition, and its climate ambition to get to net zero as announced in May 2020.
As part of these initiatives, Total’s board of directors will propose to shareholders that the company’s name should be changed to TotalEnergies SE. The board will also present a resolution for an advisory vote on the company’s ambition for sustainable development and energy transition to carbon neutrality according to its 2030 objectives. This resolution is based on the joint statement issued with the global investor initiative Climate 100+ in May 2020, the strategy and objectives announced to shareholders by Total in September 2020 and in February 2021, and the work of the board of directors.
Total will also propose a new criterion regarding the reduction in indirect Scope 3 emissions related to the use of its energy products by its customers in Europe. A proposal will be introduced for the allocation of performance shares to the Chair, CEO, and all senior executives. The weight of the criteria related to the company’s transformation strategy in variable compensation has also been increased.
