France's Total faced a modest decline in revenue and profits in 2019 that nonetheless pushed it down five places on the Global 500 this year. Like its energy-sector peers, the company was hit hard by the double-whammy of the coronavirus and the Saudi-Russian price war. As a result—and along with other oil majors—Total had to slash its 2020 capital expenditures sharply. On the climate front, local governments and activists have also sued Total in France for not doing enough to combat global warming. The company, for its part, has repeatedly emphasized its commitment to investments in solar, wind and batteries, which now account for around an eighth of its capital spending.
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