Sasol Integrated Report 2022 - Book - Page 6
INTRODUCTION | ABOUT SASOL
STRATEGIC OVERVIEW
CREATING VALUE
DELIVERING
GOVERNANCE AND REWARDS
ADMINISTRATION
ABOUT THIS REPORT
Our Integrated Report aims to provide a balanced and accurate reflection of our strategy,
performance, opportunities, outcomes and future outlook in relation to material
financial, economic, social and governance issues. The intent of the report is primarily
to address the value-creation considerations of long-term investors but also provides
appropriate information to all our key stakeholders.
We aim to preserve, create and deliver sustainable value for all our stakeholders through the six capitals.
Our unique processes are key inputs and we produce value-adding outputs by using an integrated approach.
Our six capitals
HC
SC
HUMAN CAPITAL
To grow and steer our business and operate
our facilities safely and efficiently, we require
high-performing, innovative and diverse people
with the right skills and experience. We focus
on being an inclusive organisation, building
and retaining critical skills and developing
our leadership capabilities.
SOCIAL CAPITAL
FC
MC
To create an enabling environment for
operations and investment, we integrate the
needs of our stakeholders into our business
and we deliver on our commitments.
We actively engage stakeholders to ensure
we progress on strategy and have a multistakeholder approach to solve challenges.
NC
NATURAL CAPITAL
We use natural resources as well as renewable
energy in our operations and leverage our
Fischer-Tropsch (FT) technology to convert
hydrocarbon reserves into value-adding
product streams.
FINANCIAL CAPITAL
We are disciplined in the way we allocate
our financial capital. We use cash
generated by our operations, divestments,
debt and equity financing to maintain
and transform our business, reward
our shareholders and fund growth.
MANUFACTURED CAPITAL
By investing in plant and equipment,
we are able to convert hydrocarbon
resources into high-value products and
operate reliably. These investments also
help manage our environmental footprint
and assist in complying with regulatory
requirements.
IC
Transforming for resilience
Responsibly decarbonising
for Future Sasol
OUR COMBINED
ASSURANCE MODEL
Environmental
stewardship
Strengthening relationships
with stakeholders
Directors’ approval
The Board is ultimately responsible for ensuring
the integrity of Sasol’s integrated reporting.
The Board gave attention to management’s
evaluation of the effectiveness of the disclosure
controls and procedures. Other than the material
weaknesses reported in the Form 20-F, we believe
Sasol has designed such internal controls over
financial reporting to provide reasonable assurance
regarding the reliability of financial reporting and
the preparation of financial statements for external
purposes in accordance with International
Financial Reporting Standards.
Notwithstanding the material weaknesses, we
confirm that the 2022 Integrated Report addresses
all material issues and matters which affect the
Group’s ability to preserve and create value and
fairly represents the Group’s integrated
performance. This report and its publication was
approved on 26 August 2022.
The Board confirms that Sasol is in compliance
with the provisions of the Companies Act, 71 of 2008
relating to its incorporation and is operating in
conformity with its Memorandum of Incorporation.
The Board of Directors has reviewed and approved
the 2022 Integrated Report:
Our proprietary and licensed technologies,
software, licences, procedures and protocols
support our competitive advantage.
Through various initiatives that include
operational excellence and digitalisation,
we enhance our robust foundation.
Our material matters are continuously monitored as they have the potential to help or hinder the
execution of our strategy thereby impacting our ability to create and preserve value in the short,
medium and long term. This is undertaken through the triple bottom line of People, Planet and Profit.
Safety of our people
The Board of Directors of Sasol Limited (the Board),
with the support of the Audit Committee, is
ultimately responsible for Sasol’s system of
internal control, designed to identify, evaluate,
manage and provide reasonable assurance against
material misstatement and loss. We apply
a combined assurance model, which seeks to
optimise the assurance obtained from
management as well as internal and external
assurance providers while fostering a strong ethical
context and mechanisms to ensure compliance.
Through the Risk Policy and strategic intent of risk
management approved by the Board, management
identifies key risks facing Sasol and implements the
necessary internal controls.
INTELLECTUAL CAPITAL
Our material matters
MM
Internal control framework
and assessment
The process is monitored and evaluated under
the direction of internal audit, while external audit
teams cover key controls and accounting matters
in the course of their audits. Other levels of external
assurance are obtained as and when required.
The Board and Audit Committee assessed the
effectiveness of controls for the year ended
30 June 2022 as satisfactory, primarily through
a process of management self-assessment,
including formal confirmation from executive
management and also considered reports from
internal audit, external audit and other assurance
providers. The consolidated financial statements
present fairly, in all material respects, our financial
position, results of operations and cash flows as
of and for the period.
SASOL INTEGRATED REPORT 2022
5
Sipho Nkosi
Fleetwood Grobler
Hanré Rossouw
Chairman of the Board
President and
Chief Executive Officer
Chief Financial
Officer
Vuyo Kahla
Manuel Cuambe
Muriel Dube
Executive Vice President
Independent
non-Executive Director
Independent
non-Executive Director
Martina Flöel
Katherine Harper
Beatrix Kennealy
Independent
non-Executive Director
Independent
non-Executive Director
Independent
non-Executive Director
Nomgando Matyumza
Mpho Nkeli
Stephen Westwell
Independent
non-Executive Director
Independent
non-Executive Director
non-Executive Director
Stanley Subramoney
Independent
non-Executive Director
Independent
