TotalEnergies is holding its annual general meeting today. If the multinational oil and gas company will certainly celebrate its exceptional profits with its shareholders, Greenpeace France recalls that it is at the heart of a system which fuels the climate, geopolitical and economic crises.
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The latest visible manifestation of climate change, France is experiencing an unprecedented heatwave for the month of May. The exit from fossil fuels is therefore becoming more urgent every day. However, TotalEnergies is pursuing a strategy of intensifying its hydrocarbon activities and continues to invest massively in oil and gas, to the detriment of renewable energies.
In the context of the war in the Middle East, TotalEnergies took advantage of the rise in oil prices to reap $5.8 billion in profits in the first quarter of 2026, or nearly $2 billion more (+51%) than in the same period in 2025. The company has now already announced an increase in dividend payments to its shareholders of 5.9% compared to 2025.
“When the French population is suffocating under unprecedented temperatures for the month of May and sees its purchasing power weighed down by fuel and energy bills, the profits of large polluting companies, like TotalEnergies, explode. While a handful of shareholders get richer, it is the people who pay. It is up to the State to remedy this shameful situation, by putting in place fiscal redistribution measures to make those responsible pay and protect households.”explains Sarah Roussel, Climate and Fossil Energy campaign manager at Greenpeace France.
Greenpeace is calling for all profits from the fossil fuel industry to be taxed more, at national, European and international levels. At the national level, the government must tax profits by doing better than the “temporary solidarity contribution” on superprofits put in place in 2022-2023 which only brought in 68 million euros, and tax dividends and share buybacks. Multinationals like TotalEnergies still having the choice of where their profits are located, France must raise the subject at the European level during the summit of heads of state which will take place on June 18 and 19 and change its position to defend new international tax rules during negotiations on the Convention on tax cooperation, the UN in August.
“All the profits of polluting multinationals must be taxed more. Because these profits have an immense climatic, social and human cost and the people on the front line must be protected. Because it is essential to make polluting activities less profitable to redirect investments towards sustainable alternatives and accelerate the end of our dependence on fossil fuels. This must involve true tax justice and a redistribution of wealth that meets climate and social challenges.” pleads Sarah Roussel. Â
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Representatives of Greenpeace France will be present at the TotalEnergies General Meeting to ask questions.
