La marche arrière des grandes entreprises pétrolières et gazières européennes sur le climat

Reclaim Finance reports a systemic retreat from climate goals among six major European oil and gas companies. The analysis shows a trend of reducing investments in renewables and low-carbon technologies while increasing oil and gas production targets for 2030. The document highlights that these companies are ignoring the IEA's Net Zero Emissions (NZE) scenario, specifically by planning new LNG export terminals and abandoning scope 3 emission targets. It concludes by calling on financial investors to oppose board re-elections and demand transparency during upcoming general assemblies at Shell and TotalEnergies.

• Five of the six largest European oil and gas companies have significantly cut their planned investments in 'low-carbon' activities, which include renewables, bioenergy, and carbon capture. BP reduced its annual low-carbon investment projections fivefold, Eni cut its renewable energy investments for the next four years by nearly 25%, and Shell's planned share for 'renewable energy & energy solutions' is projected to drop from 19% in 2025 to 9% between 2025 and 2030. TotalEnergies lowered its 2030 target for 'integrated power and low-carbon molecules' from 33% to 26%, and Equinor dropped its goal to allocate 50% of gross investments to renewables and low-carbon by 2030. Only Repsol maintained its plan at 19%.
• None of the six companies plan to reduce fossil fuel production, contradicting the IEA's NZE scenario which requires a 21% drop in oil and a 13% drop in gas production by 2030 compared to 2023. BP, Eni, Equinor, and TotalEnergies have increased their 2030 production targets to exceed the NZE trajectory by more than 50%. Shell expects a 1% annual increase in oil and gas production through 2030, exceeding the NZE by over 20%. Repsol, while not increasing targets, does not plan reductions, placing it over 50% above the NZE for 2030.
• The companies are expanding liquefied natural gas (LNG) infrastructure, with Shell, TotalEnergies, Eni, BP, and Equinor all planning new LNG export terminals by 2030, which the document states is incompatible with the NZE scenario.
• There is a documented retreat from decarbonization targets, particularly regarding indirect (scope 3) emissions, which accounted for over 90% of the six companies' emissions in 2024. BP has abandoned its 2030 scope 3 target and its commitment to reach net zero for scopes 1, 2, and 3 by 2050. Repsol abandoned its carbon intensity reduction target for scopes 1, 2, and 3 (2016-2030), replacing it with an absolute target and a new reference year of 2018.

APA

Martin, L. (2025). La marche arrière des grandes entreprises pétrolières et gazières européennes sur le climat. Reclaim Finance. https://reclaimfinance.org/site/2025/05/19/la-marche-arriere-des-grandes-entreprises-petrolieres-et-gazieres-europeennes-sur-le-climat/

Chicago

Martin, Léo. La marche arrière des grandes entreprises pétrolières et gazières européennes sur le climat. Reclaim Finance, 2025. https://reclaimfinance.org/site/2025/05/19/la-marche-arriere-des-grandes-entreprises-petrolieres-et-gazieres-europeennes-sur-le-climat/.

Wikipedia

{{cite press release |last1=Martin |first1=Léo |title=La marche arrière des grandes entreprises pétrolières et gazières européennes sur le climat |publisher=Reclaim Finance |date=19 May 2025 |url=https://reclaimfinance.org/site/2025/05/19/la-marche-arriere-des-grandes-entreprises-petrolieres-et-gazieres-europeennes-sur-le-climat/ |access-date=23 October 2026 |via=Climate Insights Directory}}

BibTeX

@misc{martin2025marche, author = {Martin, Léo}, title = {{La marche arrière des grandes entreprises pétrolières et gazières européennes sur le climat}}, publisher = {Reclaim Finance}, year = {2025}, month = may, url = {https://reclaimfinance.org/site/2025/05/19/la-marche-arriere-des-grandes-entreprises-petrolieres-et-gazieres-europeennes-sur-le-climat/}, urldate = {2026-10-23}, note = {Indexed by Climate Insights Directory} }