TotalEnergies & Airbus Team Up for Sky-High Sustainability, Target 90% CO2 Emission Cut

TotalEnergies SE TTE inked a strategic partnership with Airbus EADSY for aviation decarbonization with sustainable aviation fuel.

As per the deal terms, TotalEnergies will supply Airbus with sustainable aviation fuel for more than half of its needs in Europe. The partnership also includes a research and innovation program to develop 100% sustainable fuels for current and future aircraft. 

This partnership aims to focus on reducing the sector’s CO2 emissions, with Sustainable Aviation Fuels (SAF) supplied by TotalEnergies projected to reduce up to 90% of CO2 emissions over their lifecycle compared to their fossil fuel equivalent.

Also Read: TotalEnergies Shares Dip – Reportedly Explores Sale Of 50% Stake In Whopping $2.5B Renewable Portfolio

Patrick Pouyanné, Chairman and CEO of TotalEnergies, commented, “TotalEnergies has been working hard to respond to the sector’s new demand for a reduced carbon footprint. Our Company has set itself a target of 1.5 million tons of annual SAF production by 2030.”

Guillaume Faury, Airbus CEO, stated, “Accelerating the deployment of sustainable aviation fuels is essential if we are to meet our targets for reducing carbon emissions from aviation by 2030. This partnership between Airbus and TotalEnergies demonstrates the willingness of aerospace manufacturers and major energy producers and suppliers to work together to meet this challenge.”

Read: Beyond Oil: TotalEnergies Doubles Down On Renewables, Gas

Earlier this month, TotalEnergies penned a cooperation agreement with Oil and Natural Gas Corporation (ONGC) in India to carry out methane emissions detection and measurement campaigns.

Also, TotalEnergies surpassed revenue expectations with $59.237 billion in Q4 FY23, outpacing consensus estimates. Despite a 12% Y/Y decline in hydrocarbon production, TotalEnergies boosted quarterly dividends by 7.1% to €0.79.

Price Action: TTE shares are trading higher by 0.85% at $63.80 on the last check Wednesday.