TotalEnergies has come under intense scrutiny following a report challenging the green credentials of its 'Clean Firm Power' gas acquisition.
- A Beyond Fossil Fuels report revealed that 87% of the joint venture's gas units are actually built for sustained baseload generation, potentially locking Europe into fossil fuels.
- The controversy closely follows reports that the energy giant has officially abandoned its 2050 carbon neutrality target.
- Despite the environmental criticism, TotalEnergies' stock rose 1.36% to €80.69 on May 21.