In Q1 2025, TotalEnergies earned $4.2 billion in adjusted net income and $7.0 billion in cash flow from operations. Revenue dropped to $47.89 billion from $51.88 billion a year earlier. However, the company held firm because of strong oil and gas output and steady LNG profits, and more interestingly, its carbon credits investment.
The report revealed that production rose 4% year-over-year, averaging 2.55–2.57 million barrels of oil equivalent per day. New output from Brazil, the U.S., Malaysia, Argentina, and Denmark helped drive this growth. Gas prices stayed high, partly balancing weaker oil prices.

Power and LNG Boost TotalEnergies Amid Refining Woes
The LNG business posted $1.3 billion in adjusted net operating income. While LNG trading met expectations, gas trading struggled due to Europe’s volatile markets and geopolitical tensions.
Power operations also grew. The segment generated over $500 million in income and $600 million in cash flow. Key deals, like acquiring Germany’s VSB and investing in battery storage, supported this growth.
Still, downstream operations faced headwinds. Weak refining margins and issues at French and U.S. facilities cut into profits. Petrochemical and biofuel margins in Europe also declined, adding pressure.
Carbon Credit Spending Hits Record High
TotalEnergies spent $2 million on carbon credits in Q1 2025. That’s double what it spent in Q1 2024. This massive spending aims to cut emissions and reach its net-zero target by 2050.
Robust Backing for Nature-Based Projects
A significant segment of its investment supports nature-based solutions like forest protection, regenerative farming, and wetland conservation. By the end of last year, TotalEnergies had collected 13.7 million verified carbon credits. Each year, the company plans to invest $100 million in carbon projects.
- Between 2025 and 2030, TotalEnergies will build a stock of 50 million carbon credits.
- These projects can potentially deliver at least 5 million metric tons of CO₂e credits annually by 2030.
- From 2030, the company will start using high-quality carbon credits to offset its remaining Scope 1 and 2 emissions.
The aim is to build a strong portfolio of trusted projects that support global rules and ensure the credits are real and long-lasting. Additionally, the company expects these projects to bring long-term environmental and social benefits.
- It expects to reach 37 million verified credits by 2030 and 53 million by 2050. These projects could also generate $770 million for local communities.

$100 M Deal with Anew Climate and Aurora Sustainable Lands
TotalEnergies signed a $100 million deal with Anew Climate and Aurora Sustainable Lands last year. The project protects 300,000 hectares of forests across 10 U.S. states—Arkansas, Florida, Kentucky, Louisiana, Michigan, Minnesota, New York, Virginia, West Virginia, and Wisconsin.
This partnership supports sustainable forest management and boosts the forests’ ability to absorb carbon. It also helps local communities by improving land use and preventing environmental damage. The carbon credits generated help offset the company’s remaining emissions.
What Makes Total Energies the Top Net-Zero Player
Last year, the LNG giant launched the “Our 5 Levers for Sustainable Change” initiative. The goal was to engage all employees in reducing emissions by boosting energy efficiency and adopting low-carbon technologies across its operations.
GHG Emissions Fell in 2024
The company cut emissions from operated sites by more than 36% in 2024 compared to 2015. Notably, over 200 emission-reduction projects helped slash 1.3 million tons of CO₂e.
However, recently the company raised its 2025 emissions goal to 37 Mt CO₂e per year. It aims to cut net Scope 1+2 emissions by 40% by 2030 (vs. 2015 levels). This also includes using 5 million carbon credits from nature-based projects, as explained before. Subsequently, these offsets will be used only for residual emissions from 2030 and consumed gradually at about 10% per year.
By end-2024, TotalEnergies had invested around $750 million in emissions reduction. These investments save 1.5 Mt CO₂e each year and cut energy costs by over $100 million annually.

However, emissions from flexible power generation rose slightly. This happened due to the addition of combined-cycle gas turbines (CCGTs) in the U.S. and U.K., which support TotalEnergies’ low-carbon electricity expansion.
Still, overall emissions dropped 25% from 2015 levels.
- The carbon intensity of upstream oil and gas assets also fell from 21 kg CO₂e/boe in 2015 to 17 kg CO₂e/boe in 2024.
All these figures make TotalEnergies one of the top industry performers.
Scope 3 and Scope 4 Emissions
In 2024, TotalEnergies helped reduce global emissions by 65 million tonnes of CO₂e through LNG sales, as many customers replaced coal with gas for power generation. Although gas increases Scope 3 emissions, it enables cleaner energy and avoids more emissions overall. These are classified as Scope 4 emissions.
The company also avoided 18 million tonnes of CO₂e in 2024 and is aiming for 150 million tonnes of emissions by 2030. This makes 90 Mt from LNG and 60 Mt from renewables while keeping Scope 3 emissions below 400 Mt.

Methane Emissions Drop Drastically
Methane emissions dropped from 64 kt in 2020 to 29 kt in 2024—a 55% cut. TotalEnergies beat its 2025 target early and now aims for a 60% cut by 2025, and an 80% cut by 2030 compared to 2020.

Digital Tools Boost Efficiency
The company is using digital tools to cut emissions smartly. In Exploration & Production, the ForCFR app links carbon forecasts with oil and gas output. In Angola, it helped cut 179 kt CO₂e annually by optimizing well operations.
Another example is: at the Normandy, Donges, and Feyzin refineries, the CarbOptim app tracks energy use in real-time and helps cut steam and energy waste.
2025 Carbon Intensity Reduction Target
TotalEnergies has raised its 2025 carbon intensity reduction target from 15% to 17%, aiming for a 25% emission cut by 2030. That means delivering the same energy with fewer emissions, or more energy with the same carbon footprint. Most of the progress will come from boosting clean electricity, cutting oil use, and growing gas and bioenergy.
Joins Google for Clean Energy
In January 2025, TotalEnergies teamed up with Google Europe to help power its Dutch data centers with 24/7 clean electricity by 2030. They’ll combine Google’s green power deals and add battery storage to handle renewables’ ups and downs. Similar deals are already in place with U.S. tech firms
Switch to Low-Carbon Power by 2025
TotalEnergies aims to power all its refining and chemical sites in Europe and the U.S. with 100% low-carbon electricity by 2025. This target will be achieved through initiatives like the Go Green project in Port Arthur, Texas.
- Additionally, last year it achieved 26 GW of gross installed renewable electricity capacity, targeting 35 GW by 2025 and reaching 100 GW by 2030.
With this progress, TotalEnergies plans to become one of the top five global producers of renewable electricity (wind and solar), excluding Chinese companies.

Latest Projects
In April 2024, TotalEnergies started the Marsa LNG project in Oman. The plant will run on power from a 300 MW solar farm and emit less than 3 kg CO₂ per barrel of oil equivalent.
Also, the company approved the GranMorgu oil project in Suriname.
This all-electric project will use advanced tech to cut emissions below 16 kg CO₂ per barrel of oil equivalent.
Additionally, it aims to:
- Become a key producer of Sustainable Aviation Fuel (SAF), targeting 1.5 million tonnes annually by 2030.
- In 2024, the company’s gross biomethane production capacity rose to 1.2 TWh per year
Hydrogen Plans Take Shape
This is part of its long-term plan to decarbonize its operations and energy products.
TotalEnergies is expanding its clean hydrogen portfolio with multiple projects across Europe. In France, it’s building biohydrogen units at La Mède and Grandpuits refineries with Air Liquide, targeting annual CO₂ cuts of 130,000 and 150,000 tonnes respectively.
In the Netherlands, a 250 MW offshore wind-powered electrolyser in Zeeland will supply 30,000 tonnes of green hydrogen from 2029, reducing refinery emissions by 300,000 tonnes yearly.
Furthermore, tolling agreements in Belgium and France will see Air Liquide operate electrolysers in Antwerp (130 MW) and Normandy (100 MW), each producing 15,000 tonnes of hydrogen annually and cutting 150,000 tonnes of CO₂ per site by 2027.
Despite market challenges, TotalEnergies continues to invest in clean energy and climate action. Its rising carbon credit purchases highlight how big energy players are using voluntary carbon markets to decarbonize. Thus, its role for a lower-carbon future is of utmost significance.
The post TotalEnergies Boosts Carbon Credit Investment as LNG, Renewables Drive Q1 Gains appeared first on Carbon Credits.
Carbon Footprint
Designing an Insetting Program: A Step-by-Step Playbook for Procurement
Insetting program design starts with your supplier map. The carbon claim comes much later.
Consider a coffee procurement team that funds a farm intervention before checking its sourcing data. The supplier aggregates coffee lots from several regions. The buyer lacks farm-level traceability. Another purchaser expects to report the same outcome. A more attractive project brochure solves none of these problems.
If the distinction between a value-chain intervention and a purchased credit is still open, read CCC’s Insetting vs Offsetting guide before you set the brief.
Insetting program design begins with the purchasing relationship and works outward. You need to decide 1) where an intervention belongs, 2) what business problem it addresses, 3) who pays for it, 4) how results will be measured, and 5) what the evidence will let you say about them. This five-step playbook turns that sequence into a procurement plan.
Step 1: Insetting program design starts with supplier mapping
Start with the commodities that matter most to your Scope 3 inventory and sourcing continuity. Ask finance for spend by supplier, sustainability for the emissions baseline, and category managers for origin and volume records. Then identify which suppliers can trace material to a jurisdiction, sourcing region, producer group, or individual land-management unit.
The level of traceability affects what you can account for. Under the GHG Protocol Land Sector and Removals Standard, the spatial boundary for purchased land-based products depends on the traceability associated with each volume. Farm-specific factors or removals require physical traceability through an acceptable chain-of-custody model. A contract with a tier-one trader, by itself, does not establish a link to the farms behind its deliveries.[1]
Build a first-pass table with five columns: commodity and annual volume; supplier and origin; current traceability level; land-use and production risks; and the business owner who can change the purchasing terms. Mark missing data plainly. A blank cell is cheaper to fix before a program starts than after a claim is drafted.
If your company sets an SBTi Forest, Land and Agriculture target (FLAG), keep its land-related target boundary separate from energy and industry emissions. The current FLAG guidance also requires relevant companies to assess primary deforestation-linked commodities in their value chains.[2]
Step 2: Choose a commodity and jurisdiction for a pilot
Select one supply corridor where the sourcing connection can be established and procurement has a reason to stay. A useful pilot has repeat purchases, suppliers willing to share records, an intervention matched to a diagnosed problem, and a defined plan to measure the result. Carbon potential alone is a poor selection rule if the supplier cannot deliver the crop your business needs.
Compare candidate regions on land-use risk, supplier concentration, local rights and tenure, the availability of baseline data, and exposure to drought, erosion, or forest conversion. Check the relevant legal requirements separately. A nature project does not satisfy a due-diligence obligation merely because it has a carbon method attached.
Consider a coffee buyer sourcing from two districts. In the first, producer-group records identify the farms, while recent dry seasons have increased rejected green coffee lots. In the second, deliveries pass through several intermediaries and farm origins are unknown. Pilot shade management in the first district, with local agronomic advice and quality checks built into the plan. The buyer can trace purchases there and test the intervention against a defined sourcing problem.
Use a short decision memo to record why the selected corridor beats the alternatives, what remains uncertain, and what would stop the pilot. That memo is the first control against a project drifting toward whatever happens to photograph well.
Step 3: Design the supplier engagement and commercial model
The intervention needs an owner on each side of the contract. Decide who supplies planting material or training, who maintains the practice, who bears the cost if a harvest disappoints, and how long the buyer expects to purchase from participating suppliers. Where smallholders participate, budget cash flow and technical support for practices that offer a later return.
Put these terms in a supplier agreement or pilot addendum. It should cover eligible farms and volumes, consent to data collection, access for monitoring, any land or carbon rights that matter, benefit sharing, and what happens if the purchasing relationship ends. Ask local counsel and producer representatives to review the arrangement. The Accountability Framework is a useful reference for supply-chain work involving forests, ecosystems, and human rights.[3]
Avoid assigning an automatic carbon benefit to the buyer. The contract should say which party has the right to report each outcome, how overlapping claims will be checked, and how any issued credits will be handled. A reduction reported in a buyer’s inventory cannot simply be sold for someone else’s offset claim without an accounting review. SBTi FLAG guidance excludes purchased credits used as offsets from near-term FLAG target achievement.[2]
Set commercial measures beside environmental ones: delivered volume, rejection rate, supplier retention, and procurement cost. They tell you whether the program works as a supply-chain investment, even if carbon accounting takes longer to resolve.
Step 4: Build monitoring, reporting, and verification before rollout
Agree on the baseline and data flow before paying for a full rollout. Identify the land units or sourcing regions in scope, the practices that change, the records suppliers already keep, and the additional measurements the program requires. Decide which data can come from field visits, transaction records, or remote sensing, and who checks each source.
For carbon, separate three questions. Did the practice happen? Did emissions or removals change under an applicable method? Can the buyer attribute a defensible share to its purchased goods without double counting? The GHG Protocol’s 2026 guidance includes dedicated chapters on spatial boundaries, data and methods, evaluating actions, credited outcomes, and assurance.[1] These are distinct jobs. A photograph of a planted tree answers only part of the first.
CCC’s MRV and Additionality article explains the separate evidence questions a project reviewer will ask.
Create an evidence file for every reporting period: dated supplier and farm records, purchase volumes, methods and emission factors, uncertainty, quality checks, and changes from the baseline. Specify who can challenge the data and how corrections are recorded. If a project also seeks credit certification, keep project accounting and corporate inventory accounting separate. The GHG Protocol says its land standard focuses on entity-level inventories and does not set the rules for credit certification.[4]
Start with the minimum viable measurement design that can survive review. Add complexity when the pilot tells you which data actually changes a decision.
Step 5: Decide what can be reported and claimed
Insetting program design needs reporting rules before the marketing copy. Procurement, sustainability, finance, and legal should agree on four distinct outputs: operational performance; observed land or nature outcomes; inventory effects, if the accounting criteria are met; and any separately issued credits. One dashboard can display them, but they should not share a single unqualified headline.
SBTi FLAG guidance allows certain land-based removals within a company’s operations or supply chain to contribute to FLAG pathways, subject to criteria including permanence, traceability, data quality, and allocation. It does not allow purchased offsets to meet near-term FLAG targets.[2] Eligibility therefore depends on evidence and the applicable target rules, not on calling an activity “insetting.”
Draft a claims register. For each proposed sentence, record the period, boundary, data owner, calculation method, reviewer, and whether the result is measured, estimated, or still a goal. If the evidence supports only “we funded a pilot with 200 farms,” say that. Do not turn a funding fact into a verified emissions reduction.
What good looks like by year three
Treat year three as a review point, not a promised payback date. A mature pilot should have mapped participating supply volumes, a stable supplier agreement, a repeatable data collection process, and a comparison of commercial and environmental results against the baseline. It should also have a documented answer for outcomes that cannot be included in the buyer’s inventory.
Scale only where the pilot improves a sourcing decision and the evidence can follow the product. If neither condition holds, redesign the intervention or change the corridor. A disciplined program can conclude that a site is unsuitable. That is useful procurement intelligence.
Discuss your insetting program with CCC
Carbon Credit Capital designs nature-based supply chain investments around sourcing needs and measurable sustainability outcomes. Schedule a consultation with our carbon and sustainability experts to map your tier-one supplier network, FLAG exposure, and first pilot decision.
Sources
[1] GHG Protocol, Land Sector and Removals Standard, version 1.1, and companion Guidance, June 2026: https://ghgprotocol.org/land-sector-and-removals-standard ; https://ghgprotocol.org/land-sector-and-removals-guidance
[2] Science Based Targets initiative, Forest, Land and Agriculture Science-Based Target-Setting Guidance, version 1.2, March 2026, especially pp. 16–17, 37, and 41: https://sciencebasedtargets.org/resources/files/SBTiFLAGGuidance.pdf
[3] Accountability Framework initiative, Accountability Framework and guidance for companies: https://accountability-framework.org/
[4] GHG Protocol, Frequently Asked Questions: Land Sector and Removals Standard, questions 10 and 18: https://ghgprotocol.org/blog/frequently-asked-questions-land-sector-and-removals-lsr-standard
Carbon Footprint
The Strategic Case for Nature-Based Carbon Investments
Nature-based carbon investments deserve consideration when they address a specific business dependency and produce outcomes you can measure. Imagine Moonbucks, a global coffee roaster planning next season’s espresso blend. It is considering natural Grade 4 coffee from Jimma, in southwestern Oromia, Ethiopia. Its sourcing decisions affect the roasting schedule and the cash tied up in coffee purchases. Moonbucks needs to understand which measures could protect that supply, what they would cost and how it would judge the results.
1. Define the sourcing problem before choosing a project
Moonbucks needs a dependable component for its espresso blend. Its procurement team wants continuity of volume and an agreed cup profile. Replacing a shipment at short notice could require new sample approval and changes to the blend, and given the schedules for cultivation, processing, and freight delivery, is practically impossible. Moonbucks needs to get this right, and its initial concern is inconsistent deliveries. It commissions an assessment of the supplying farms and post-harvest chain. The questions cover land condition, harvest availability and whether drying or storage problems are affecting saleable lots.
This distinction changes the investment brief. A tree-planting proposal cannot be assumed to fix drying problems. Better storage cannot restore eroded land. The team must establish which problem exists before selecting the response.
CCC’s guide to finding nature-based solutions in your supply chain explains where to look. Here, the next task is to turn a broad concern into a testable proposal.
2. Develop nature-based carbon investments around the actual supply chain
The assessment would trace Moonbucks’ purchases back through the exporter and supplying producer groups. Which farms supply the contracted lots? Who controls land-management decisions? How long does the buyer expect to maintain the purchasing relationship?
Furthermore, Jimma natural Grade 4 cannot be treated as interchangeable with every Ethiopian coffee. Moonbucks would need to test any substitute against its own blend and quality requirements.
Suppose Moonbucks’ assessment identifies an opportunity to maintain shade trees and restore vegetation along exposed streambanks. The IPCC describes agroforestry as a way to store carbon in vegetation and soil, with potential benefits for erosion control and water quality.1 Moonbucks would need local advice on species, growing conditions and maintenance before deciding how these measures fit its sourcing plan.
The proposal now has a defined sourcing connection and a candidate intervention. The next steps are to test its effect on production, assess carbon eligibility and build the financial case.
3. Compare the proposal with other ways to protect supply
WBCSD’s Nature-based Solutions Blueprint recommends comparing nature-based options with other responses across their benefits and costs.2 For Moonbucks, that means evaluating the landscape proposal alongside drying improvements, storage controls and alternative sourcing arrangements.
The product’s natural-process designation matters. Moonbucks should examine the drying and dry-milling chain alongside land conditions. Its team would check storage practices, contamination risks and incoming-lot quality to see whether problems arise before or after the coffee leaves the farms.
The revised proposal might combine land stewardship with separate post-harvest controls. Each component needs its own purpose and budget. A sustainability label should not obscure which activity is expected to solve which problem.
The project develops as the evidence improves. Its scope should follow the diagnosis rather than preserve the first idea unchanged.
4. Establish what the carbon outcome could count toward
Moonbucks’ sustainability team now tests the proposed carbon case separately from the sourcing case. Is the objective a measurable change in Moonbucks’ value-chain emissions, verified credits for separate voluntary use, or distinct outcomes under carefully defined arrangements?
Scope 3 covers value-chain emissions. A purchasing relationship alone does not prove that a farm intervention can be included in Moonbucks’ inventory. The team needs an applicable accounting method, defensible boundaries and evidence supporting attribution.
SBTi’s FLAG Guidance (forest, land and agriculture), version 1.2, says purchased credits used as offsets cannot meet near-term FLAG or energy and industry targets. Eligible land-based removals are subject to accounting requirements.3 Moonbucks needs to test its proposal against those rules before including an outcome in its targets.
For Moonbucks’ Jimma proposal, maintaining existing trees and establishing new vegetation could involve different carbon questions. Specialists must examine the baseline and additionality, meaning what changes because the project proceeds. They must also assess measurement and the risk that stored carbon is lost. CCC’s MRV and additionality article introduces those tests.
Until that work is complete, Moonbucks should not budget an assumed Scope 3 reduction or credit-sale receipt. Direct emissions reductions remain the priority.
5. Build a financial case that survives weaker assumptions
Moonbucks’ finance team would now build a multi-year budget. UNEP’s State of Finance for Nature 2023 compares current finance with the investment needed to meet climate, biodiversity and land-restoration goals.4 The company would cost its proposed activities, farmer participation and ongoing monitoring. Verification, where required, is a separate expense. Maintenance and responsibility for replacing failed plantings must remain visible after the initial establishment budget ends.
Operational benefits need equally careful treatment. If fewer rejected lots reduce emergency purchasing, count that saving once. Do not add “supply resilience” as another financial benefit when it represents the same avoided cost.
Moonbucks should compare a base case with slower benefits, higher implementation costs and no carbon revenue. It should also distinguish production outcomes from quality and shipment outcomes. A single good harvest would not prove that the landscape intervention caused better delivery performance.
A project can remain worth funding even when its carbon case needs more work. That decision must rest on the operational evidence and the company’s objectives, without unsupported environmental claims.
6. Fund a pilot with a clear expansion decision
Moonbucks’ first approval would fund a bounded pilot, rather than commit the entire sourcing program. Before spending, Moonbucks would agree on participating farms, responsibilities and the evidence needed at review.
Its scorecard could track farmer participation, implementation costs and plant survival, alongside accepted coffee volumes and lot-quality results. Carbon measurements would follow the selected method. Farm-level traceability must connect the intervention to the actual sourcing relationship.
Suppose Moonbucks’ review later finds that storage changes explain most quality improvements, while the land measures need longer observation. Those findings would shape the next decision: expand the proven component, adjust the landscape work or pause further spending. They would not justify crediting all improvements to tree planting.
This gives nature-based carbon investments a practical place in a multi-year strategy. Funding increases as the evidence supports it, and the project can change direction before a larger commitment.
Discuss a sourcing opportunity with CCC
Carbon Credit Capital’s nature-based supply-chain investment service uses its Dual-Value Model to examine supply-chain economics alongside potential sustainability outcomes.
Schedule a consultation to discuss your sourcing exposure and the questions to resolve before allocating capital.
Sources
- Intergovernmental Panel on Climate Change (IPCC), Climate Change 2022: Mitigation of Climate Change, Chapter 7, Agriculture, Forestry and Other Land Uses, section 7.4.3.3 (Agroforestry).
- World Business Council for Sustainable Development (WBCSD), Nature-based Solutions Blueprint, 5 June 2024.
- Science Based Targets initiative (SBTi), Forest, Land and Agriculture Science-Based Target-Setting Guidance, version 1.2, March 2026, section 3.1.4, pp. 37–38.
- United Nations Environment Programme (UNEP), State of Finance for Nature 2023, 2023.
Carbon Footprint
How to buy plastic credits, and what to check before you do
A plastic credit funds the collection of plastic waste in places where no formal system exists to collect it. Each credit represents a measured, independently audited quantity of plastic taken out of the environment or returned to use, tracked on a public registry.
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