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Oil Giant Total Targets Carbon Neutrality in 2050

  • French major cuts production outlook, increases cost cuts
  • Company keeps first-quarter dividend unchanged from year ago
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Total SA set out bolder commitments to eliminate most of its carbon emissions by 2050, while curbing spending on oil and gas projects due to the crude-price slump.

The French company’s commitment to invest more in clean energy, despite a sharp drop in profit as the coronavirus hammers fuel demand, illustrates the enduring pressure on oil giants from investors and society to tackle long-term environmental challenges.