France's complete leaves the highest US oil foyer due to local weather coverage
From Ron Bousso
LONDON (Reuters) – France's Total became the first major energy company to leave the largest US oil and gas lobby on Friday due to differences in climate policy.
Total said in a statement that it would not renew its membership of the American Petroleum Institute (API) in 2021 following a review of the lobby's climate positions, describing them as only "partially aligned" with Total's.
The differences include helping API to reverse US regulations on methane emissions, a powerful greenhouse gas, and assigning a price to carbon, which is critical to any carbon trading scheme that is considered critical to emissions reduction.
"As part of our climate change ambition, published in May 2020, we are committed to ensuring in a transparent manner that the industry associations we belong to adopt positions and messages that are consistent with those of the group in the fight against climate change," said Patrick Pouyanné, Chief Executive of Total.
The API did not immediately respond to a request for comment.
Total and other European majors BP (NYSE 🙂 and Royal Dutch Shell (LON 🙂 have already withdrawn from the American Fuel & Petrochemical Manufacturers, a leading US oil refining group, also due to differences in climate policy.
So far, these companies have chosen to stay with API, the primary trading group for the oil and gas industry.
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