On March 26, 2026, the French oil and gas company TotalEnergies released its Sustainability and Climate Progress Report. Rather than outlining meaningful progress, the company effectively announced that it was abandoning its 2050 net zero target. The report removes any remaining doubt about TotalEnergies’ transition strategy, a “transition” in name only. Yet many life insurers continue to finance the French energy giant, arguing that sustained shareholder engagement is necessary to support its transition. In light of the company’s latest announcements, that approach now appears to have reached its limits. A closer look at the life insurers that continue to back TotalEnergies and to invest their clients’ savings in the company.
