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MarketScreener Homepage  >  Equities  >  Euronext Paris  >  Total    FP   FR0000120271

TOTAL

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Total Exits American Fuel & Petrochemical Manufacturers Lobbying Group

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11/08/2019 | 09:27am EST

By Dieter Holger

Total 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 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

Stocks mentioned in the article
ChangeLast1st jan.
LONDON BRENT OIL -0.16% 63.62 Delayed Quote.12.23%
ROYAL DUTCH SHELL 0.53% 26.54 Delayed Quote.2.90%
TOTAL 0.51% 49.105 Real-time Quote.5.79%
WTI -0.57% 58 Delayed Quote.25.31%
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Financials (USD)
Sales 2019 201 B
EBIT 2019 18 143 M
Net income 2019 11 999 M
Debt 2019 30 567 M
Yield 2019 6,01%
P/E ratio 2019 10,8x
P/E ratio 2020 9,29x
EV / Sales2019 0,80x
EV / Sales2020 0,81x
Capitalization 130 B
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Mean consensus BUY
Number of Analysts 24
Average target price 62,91  $
Last Close Price 49,11  $
Spread / Highest target 46,0%
Spread / Average Target 28,1%
Spread / Lowest Target -3,25%
EPS Revisions
Managers
NameTitle
Patrick Pouyanné Chairman & Chief Executive Officer
Jean-Pierre Gerard Claude Sbraire Chief Financial Officer
Marie-Noelle Semeria Group Chief Technology Officer & Senior VP
Patrick Artus Independent Director
Marie-Christine Coisne-Roquette Independent Director
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