Bonjour, New York? French Oil CEO Sees a Climate Path Out of Paris
The boss of TotalEnergies says “there’s a case” to move the company’s listing as he navigates the energy transition.
Patrick Pouyanne, CEO of TotalEnergies.
Photographer: Pascal Rossignol/AFP/Getty Images
In recent years, energy companies have faced what looked like a clear choice between either sticking with fossil fuels or pivoting to renewables. In the US, Exxon Mobil Corp. and Chevron Corp. have expanded their traditional, and very profitable, oil businesses, ignoring the climate crisis. In the UK, Shell Plc and BP Plc have shifted into green energy, reducing oil output but hurting their earnings. Either black or green — but all in.
Patrick Pouyanne, the head of Paris-listed TotalEnergies SE, is on a mission to prove there’s a middle way, boosting fossil-fuel production and using the proceeds to finance increased renewable electricity output. It’s a model that others should replicate — and policymakers should encourage.