It seems like just yesterday that shareholder activists pitched at Sasol’s annual general meeting in November 2018 to challenge the company on its environmental and social compacts, in particular what they saw as its failure to provide stakeholders with adequate climate risk disclosure or to set greenhouse gas emission reduction targets.
The report, Positioning for resilience in a low-carbon future, is dated June 30 2019 and is the company’s “first report aligning with the recommendations of the Task Force on Climate-related Financial Disclosures ”.after a forensic investigation into the delays and cost overruns at the company’s $13-billion Lake Charles Chemicals Project, say in the report that “Sasol is reducing our greenhouse gas emissions and is well aware of the need to develop solutions to the challenge of climate change.
Hermann Wenhold, Sasol’s chief sustainability and risk officer, says in the report that to thrive fundamental change is required. “This is why we are implementing a three-pillar emission-reduction framework focusing on reducing emissions, transforming our operations and shifting our portfolio, with the aim of positioning our business for a carbon-constrained future.
Just Share’s Tracey Davies says the company’s “total global GHG emissions in 2017 was 67 632-million tonnes which, according to the Institute for Energy Economics & Financial Analysis , only gives us a 50% chance of achieving the Paris goals,” she says. “We continue exploring and pursuing further options, where feasible, including the use of renewable energy, process optimisation and feedstock changes. The most significant future improvements involve increasing the intake of natural gas or switching to other hydrogen-rich feedstocks.”
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