Sasol Integrated Report 2022 - Book - Page 35
INTRODUCTION | ABOUT SASOL
CREATING VALUE
STRATEGIC OVERVIEW
DELIVERING
GOVERNANCE AND REWARDS
ADMINISTRATION
RISK MANAGEMENT (CONTINUED)
Managing our Group top risks (continued)
Our Group top risk themes (continued)
KEY BUSINESS IMPERATIVE
Long-term business viability
Employee Value Proposition
Group top risk theme
Group top risks
Key responses
Group top risk theme
Group top risks
Key responses
SUSTAINABILITY
AND TRANSITION
Includes risks associated with:
– our ability to develop and implement
an appropriate climate change
mitigation response
– increasing societal pressures
– access to low- and lower-carbon
energies; and
– our ability to meet new and future
policy and regulatory requirements,
particularly in South Africa
• Undertaking robust scenario analysis
• Enhancing transparency and disclosure
• Implementation of the Just Transition
approach, framed by our three-pillaremission reduction framework
• Set long-term emission reduction Net
Zero ambition by 2050, with optionality
in the decarbonisation pathway
• Set interim targets including a 30% scope
1 and 2 emission-reduction target by 2030
• Reduce by 20% absolute scope 3
emissions by 2030 for Category II
• Enhancing and implementing our
adaptation response strategy in a
phased approach, focusing on risk at
operational sites
• Proactive stakeholder engagement,
policy advocacy and tracking of the
climate change landscape
• Environmental compliance programmes
PEOPLE
Includes risks associated with:
– our ability to ensure an enticing
Employee Value Proposition
– retaining and attracting required
skills to enable delivery of strategy
and strategic objectives
– maintaining a high-performance
culture anchored in our values
and ethics, with high levels of
engagement and productivity
– ensuring diversity globally
– managing organisational change
– ensuring good labour relations
(includes labour actions
or disruptions)
– changing workplace dynamics post
COVID-19; and
– new normal/future workforce
• Culture of inclusion and care is driven
across all regions, with tailored
communication to address employee
concerns as new issues arise
• Our Purpose and values forming the basis
of our Employee Value Proposition and
our People Promise
• Integrated talent management strategies,
framework, principles and standards
• Developed a list of future critical skills
required to deliver on Future Sasol’s
strategy
• Competitive remuneration, employee
value proposition, rewards and benefit
frameworks and policies
• Employee attraction, retention,
development and succession processes
and programmes
• Culture transformation journey
• Code of Conduct and value system
• Employee wellbeing programmes
• Employee engagement surveys and
benchmarking
• Proactive engagement with
organised labour
• Develop a workplace of the future
strategy – working from home and
hybrid model
• Develop a digital platform to remotely
manage employees’ working hours,
productivity, wellbeing, performance
management and remuneration
MM
Responsibly
decarbonising
for Future Sasol
MM
Environmental
stewardship
New Group top risk
Key responses
INABILITY TO EFFECTIVELY
TRANSITION TO FUTURE
SASOL IN TIME
• Continued balance sheet and capital allocation discipline
• Reducing scope 1 to 3 GHG emissions based on the decarbonisation
targets set out in our roadmaps
• Maintain a healthy project funnel to play a lead integrator role in the
Southern Africa green hydrogen ecosystems
• Renewable energy procurement into our facilities
• Realise benefits from circular economy opportunities
• Monitoring and responding to the shifting macros including carbon
tax requirements
• Sign-posts monitoring of policy and regulatory landscape with a fast
response rate to action on developments
• Proactive stakeholder engagements to align on key requirements and
taking a leading role through proactive and visible engagements in
delivering to the Just Transition imperative in South Africa
• Exploring affordable alternatives and optimising options to
minimise eroding value of current business while driving initiatives to
meet our sustainability transformation requirements
• Maximise affordable gas supply from current Mozambique assets
to extend plateau production (through Petroleum Production Agreement
(PPA) and Production Sharing Agreement (PSA) programmes)
• Develop go-to-market and technology strategy roadmaps for a prioritised
regional approach with reference to the pathways
This includes risks associated with:
– N
ot achieving the Sasol 2.0
targets
– S
asol Energy and Sasol Chemicals
not delivering on decarbonisation
plans
– P
olicy and regulatory changes
imposing further requirements
to comply
– N
ot delivering on stakeholder
commitments
– T
ransition from coal to gas
eroding value of our current
businesses
– I nability to secure sufficient and
affordable gas volumes
timeously; and
– I nability to find flexible
alternatives to realise sustainable
business opportunities
CCR
MM
Responsibly
decarbonising
for Future Sasol
MM
Environmental
stewardship
For more detail specifically on Climate Change risks, refer to the Climate Change Report
available on our website, www.sasol.com
SASOL INTEGRATED REPORT 2022
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