Sasol Climate Change Report 2022 - Book - Page 46
INTRODUCTION
RISKS AND OPPORTUNITIES
OUR FUTURE SASOL STRATEGY
GOVERNANCE
DATA AND ASSURANCE
GOVERNING CLIMATE CHANGE
Our Board
The Board informs and approves Sasol’s strategy. It is within this context that climate change
is considered and managed as a material matter and a Group top risk with ultimate
accountability residing at Board level.
Skills diversity on the Board
Through Sasol’s various committees that support the Board, we ensure that risk,
performance and sustainable development considerations, including on climate
change, are effectively integrated and appropriately managed within our strategy
and management practices.
The Board comprises mostly Independent
non-Executive Directors and recognises and
embraces the benefits of having a diverse set of
skills amongst its members. When appointing
Directors to the Board, the specific skills, expertise
and competencies of each member are carefully
considered in relation to Sasol’s purpose,
long-term strategic direction and key risks to the
organisation. This is enabled through an approved
succession plan supported by selection criteria,
which specifically includes capabilities to manage
climate-related risks and opportunities. The Board
and its committees can also obtain external and
independent professional advice as is necessary to
carry out their duties. This is over and above advice
received from internal climate change specialists
and experts. Qualifications for each of our Board
members and their specialised skill sets are
contained in our IR page 58.
SASOL LIMITED SHAREHOLDERS
SASOL LIMITED BOARD
Capital
Investment
and Digital
Committee
Nomination
and Governance
Committee
Remuneration
Committee
Safety, Social
and Ethics
Committee
PRESIDENT AND CHIEF EXECUTIVE OFFICER (CEO)
DISCLOSURES
CONTROL/ASSURANCE
RISKS/OPPORTUNITIES
Audit
Committee
GROUP EXECUTIVE COMMITTEE1
Ad hoc
GEC mandating
and steering
committees
Capital
Structuring and
Allocation
Committee
Disclosure
Working
Group
Safety
Committee
Sanctions
Compliance
Committee
EXECUTIVE VICE PRESIDENTS
Subsidiaries (wholly-owned), Sasol Energy, Sasol Chemicals and Sasol ecoFT Businesses and Corporate Centre
Subsidiary (wherein external shareholder) and JV Boards and shareholders
STAKEHOLDERS
ETHICAL FOUNDATION
1 The Board appoints Group Executive Committee members on the recommendation of the CEO and the Nomination and Governance Committee.
Effectiveness and performance of the Board, its
committees and individual directors is evaluated
every two years. In alternate years, or as is
necessary, provision is made for reflection by the
Board of its performance, including that of its
committees, chair and members. Benchmarking
against an international peer group on the skills
and competencies of individual directors was
conducted by a global firm in 2021.
The competencies required for Future Sasol were
discussed at length and the identified short-term
experience and skills were prioritised to enhance
the Board’s mix of international and local
capabilities and competencies in the fields of
extraction, energy (including hydrogen), natural
resources, renewables, engineering, innovation
(research and development) and technology.
Currently on our Board we have specifically
retained the expertise of an independent
non-executive director, with niche experience
on sustainability and climate change matters.
Ms Muriel Dube was appointed to be Chair of the
SSEC based on her skills-set. She has a Master of
Science in Environmental Change and Management
from Oxford University and is a former South
African government chief negotiator to the United
Nations Framework on Convention on Climate
SASOL CLIMATE CHANGE REPORT 2022 45
Change (UNFCCC) and served as the African
representative for technology transfer on the
UNFCCC Expert Group on Technology Transfer
(EGTT). She actively participates at various COP
meetings and was part of the Sasol delegation at
COP25 and 26 in 2019 and 2021.
Board training and awareness
The Board undergoes regular training, including on
climate change and wider sustainability matters as
and when required. This has been reinforced since
2017 in line with a rapidly changing national and
international climate change policy and regulatory
landscape. Extensive feedback on global climate
change management developments is provided
to the Board following various COP meetings
and releases of the latest IPCC reports and other
related developments.
Newly appointed directors attend a structured
induction programme, which includes a detailed
module on our sustainability and climate change
management approach. This programme was
revised during 2022 to include strategic direction
provided by the Future Sasol strategy and
associated ESG matters. The programme for
further professional development is augmented by
regular briefings on legal and corporate governance
developments, as well as risks and changes in our
external operating environment.
Our governance structures and processes are
reviewed regularly to more deeply embed
climate change management into mainstream
business activities.
Governance
The Board’s SSEC has a specific mandate on
climate change management under the umbrella
of sustainability. The Board provides oversight on
the company’s climate change response as a Group
top risk.
The workplan of the SSEC is informed accordingly
by the risks and opportunities we face, as the
transition and decarbonisation of our operations
unfolds. See risk management section pages 13 – 15
for further information on our risks and
opportunities.
