to take advantage of its significant potential, particularly in fields operated by TotalEnergies. Moreover, the regulatory environment within the E.U. is favorable to such projects. Not only will they provide a way to reduce the Company’s own emissions, but thanks to additional capacity, it can also offer COWe signed in May 2022 an agreement with Sempra Infrastructure, Mitsui & Co., Ltd.
We invest to preserve and develop ecosystems which sequester carbon naturally*. Our objective : reach an annual sequestration capacity of 5 to 10 million tons of CO” have signed a partnership agreement with the Republic of the Congo to plant a 40,000-hectare forest on the “”. The new forest will create a carbon sink that will sequester more than 10 million tons of COover 20 years, to be certified in accordance with the Verified Carbon Standard and Climate, Community & Biodiversity standards.
Reductions in flaring: In 2021, the decrease in flaring from 2020 reduced emissions by 1.8 kt per year. The Tilenga and EACOP projects in Uganda were approved with a low technical cost of $11 per barrel and COIn Brazil, the giant Mero project is part of our strategy of producing oil at a competitive cost from worldclass fields.
Our contribution to the development of renewable energies, as called for in the Net Zero Emissions scenario, accelerated in 2021. Our investments in renewables and electricity accounted for 25% of total investments, which is more than the 20% we forecast in 2020. Combined with our investments in new molecules, this means that soon more than 30% of our investments will be devoted to decarbonized energy.
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