Sasol Integrated Report 2023 - Book - Page 7
INTRODUCTION
ABOUT SASOL
STRATEGIC OVERVIEW
CREATING VALUE
PERFORMANCE
GOVERNANCE AND REWARDS
ADMINISTRATION
INTEGRATED THINKING AND REPORTING
Integrated reporting brings together the material features of our strategy, governance, performance, risks and opportunities, outcomes and outlook reflected within the
context of People, Planet and Profit. We aim to articulate our value preservation and creation narrative using the six capitals and to show their relevance in relation to all our
stakeholders. Our Group top priorities are focused on delivery as we reset our business.
MATERIAL MATTERS
PEOPLE
Social capital
Our contribution to and from our fenceline communities, after
considering and appraising their needs and expectations in relation
to our business activities and strategy to drive shared value.
(Critical skills, training,
employee wellbeing and
succession)
Stakeholder
Intellectual capital
(Stakeholder impact,
transformation and local content)
Our proprietary and licensed technologies, patents, software,
licences, operational and control processes, procedures and
protocols, brand, reputation as well as research and development
initiatives that support our competitive advantage.
Financial
Strategic partnerships enrich our know-how and proficiencies.
Ensuring that our employees, contractors
and service providers can safely return to
their families at the end of the work day is
not only a non-negotiable but the bedrock of
a sustainable business. The loss of one life
is one too many. We undertake to ensure
that all our employees and service providers
return to their loved ones safely every day.
People
Resetting for resilience
To deliver Future Sasol, we need a robust
foundation. This means we need to get the
basics right. We appreciate the ‘new world’
in which we operate but know how our
business needs to respond, thereby
ensuring that as we transform, we will be
resilient into the future.
(Commodity prices, exchange
rates, interest rate, cost increases
above inflation and tax liability)
Safety and operational
PLANET
(Major incidents and
operational disruptions)
Natural capital
The direct use of renewable and non-renewable resources
(coal, natural gas, crude oil, water, air, land, biodiversity),
which are fundamental to our business as we convert
hydrocarbon reserves into value-adding product streams.
Legal, regulatory
and governance
Sustainably decarbonising
for Future Sasol
(Non-compliance and
governance practices)
To transition to Future Sasol, we must act
collectively and decisively as our coal value
chain is unsustainable and needs to be
decarbonised. We will sustainably decarbonise
by embracing suitable low-carbon alternatives
as well as by implementing energy and
process efficiencies.
Information
management
(Cyber security incidents)
Capital investment
Environmental stewardship
(Effective capital deployment)
In pursuit of Future Sasol, our current business
must operate within regulatory and policy
frameworks and maintain our licence to operate.
This will improve our investment attractiveness
and our ability to pursue opportunities.
Geopolitical
(Community and social unrest)
PROFIT
Manufactured capital
Our fixed assets including property, plants, equipment and
digital assets, are core to enabling production and delivery
of our product streams to preserve and create shared value.
Financial capital
Disciplined management of cash generated by our operational
activities, sales to customers, divestments, debt and equity
financing, which are key to maintaining and transforming
our business and rewarding stakeholders.
Market
(Business competitiveness
and supply and/or demand
fundamentals)
Strengthening relationships with
stakeholders and regulators
Strengthening relationships with all our
stakeholders is an indispensable requirement
to build credibility and trust. It is imperative
that we say what we do and do what we say.
Sustainability
and transition
(Climate change and transition
in a just manner)
IR
For more detail refer to our Risk
Management on page 30
IR
For more detail refer to our Material
Matters on page 39
SASOL INTEGRATED REPORT 2023
6
GROUP TOP PRIORITIES
Prioritised SDGs – aligning with
our sustainability focus areas
Our values-driven culture supported by diverse, highperforming and innovative employees who have appropriate
skills and experience to drive value preservation and creation.
Safety of our people
Prioritised SDGs – aligning with
our sustainability focus areas
RISK THEMES
Prioritised SDGs – aligning with
our sustainability focus areas
CAPITALS
Human capital
PURSUE ZERO HARM AND
IMPROVE OUR CULTURE
• Continue to strengthen our Values,
culture and enhance our Employee
Value Proposition
• Promote diversity, equity, inclusion
and a sense of belonging in the
workplace
• Deliver on our capability-building,
inclusive of leadership development
programmes
• Strengthen stakeholder trust
through continued delivery
on community, regulatory
and shareholder promises
ADVANCE SUSTAINABILITY
• Deliver on our 2030 greenhouse
gas emissions reduction
programme and environmental
compliance commitments
• Progress opportunities to
enable sustainable growth
by strengthening our innovation,
technology, partnering and
sustainability solutions
DELIVER AND MAXIMISE VALUE
• Deliver Sasol 2.0 ‘Reset’
commitments
• Deliver coal deployment and
quality remediation plans
• Enhance operational and functional
performance, efficiency and
effectiveness
• Maintain balance sheet flexibility,
improve cash flow optimisation
while driving selective growth
• Continuously improve our service
delivery and customer experience
