TOT TOTAL SE

By Dieter Holger

Total SA (FP.FR) said Friday that it won't renew its membership in the American Fuel and Petrochemical Manufacturers trade association over disagreements with the group's policies on climate change.

The French energy company said it reviewed its 30 most significant industry memberships and decided to leave the AFPM, which has close to 300 members.

The AFPM has come under fire from environmentalists for lobbying against climate change regulation in the U.S., campaigning for the U.S. to withdraw from the 2016 Paris Climate Agreement and urging senators to reject the Green New Deal this year. Royal Dutch Shell PLC (RDSA.LN) also cut ties with the association earlier this year.

"We always strive to reach consensus positions on policies that are in the best interest of the fuels and petrochemical industries and the communities and consumers that rely on us," AFPM President and CEO Chet Thompson said.

Total said it decided to stay in the American Chemistry Council, the American Petroleum Institute and the Canadian Association of Petroleum Producers trade associations even though they are only "partially aligned" with the company on climate change issues, cautioning that it "would reconsider its memberships in the event of lasting divergences."

The company also reported that its greenhouse gas emissions from oil-and-gas facilities last year came to 42 million metric tons of carbon-dioxide equivalent.

"Consumers and civil society have high expectations concerning climate issues," said Patrick Pouyanne, chairman and chief executive of Total, in prepared remarks. "I believe that transparency and trust among all stakeholders are needed to together address the challenge of climate change."

Write to Dieter Holger at dieter.holger@wsj.com; @dieterholger

(END) Dow Jones Newswires

November 08, 2019 09:26 ET (14:26 GMT)

TOTAL (NYSE:TOT)
Historical Stock Chart
From Mar 2024 to Apr 2024

TOTAL (NYSE:TOT)
Historical Stock Chart
From Apr 2023 to Apr 2024