ESG Today writes that TotalEnergies' climate objective is to reach carbon neutrality by 2050, with the company first focusing on avoiding emissions and then, on reducing them asset by asset, using the most appropriate technologies, while developing industrial carbon storage projects to help with managing residual emissions.

TotalEnergies officials said that the company plans to establish a carbon storing capacity of over 10 megatons per year from 2030 for its operations, but also for its customers'.

Following the transaction, TotalEnergies will own a 25% share of the Bayou Bend Project, a carbon transportation and storage solution for industrial players located in the Houston Ship Channel and Beaumont – Port Arthur region, alongside Chevron at 50% and Equinor at 25%.