TotalEnergies Drops Net Zero Citing Slower Green Shift, EU Rules

French energy giant TotalEnergies SE said it will no longer aim to reach net zero emission targets by 2050, citing nations’ slower-than-expected shift away from fossil fuels and more stringent European Union regulations.

The company said it is sticking to its ambition of achieving carbon neutrality for its operations by the middle of the century, and that it continues to help clients cut pollution.