Sasol Integrated Report 2024 - Book - Page 15
INTRODUCTION
ABOUT SASOL
STRATEGIC OVERVIEW
BUSINESSES
ESG
DATA AND ASSURANCE / ADMINISTRATION
REMUNERATION REPORT
OPERATING REALITY
Our operating reality is defined by both external and internal influences and impacts our ability to do business. This includes but is not limited
to unpredictable changes in macroeconomic factors and industry trends. In some instances, our direct control is limited, but all relevant
factors are analysed to leverage opportunities and make strategic decisions. Operating in this complex environment sometimes hinders
our ability to balance the demands of the various capitals and to create sustained value for our stakeholders and us.
PEOPLE
SHORT TERM
MEDIUM TERM
LONG TERM
UP TO FIVE YEARS AHEAD
FIVE TO TEN YEARS AHEAD
MORE THAN TEN YEARS AHEAD
PLANET
OUTCOMES
DRIVER: Safety
We recorded five tragic workplace fatalities in FY and an additional one thereafter. Safety comes first and
there can be no compromise. It is not optional, and we must ensure safety remains everyone’s top priority.
We will continue to foster a safe and caring workplace in pursuit of Zero Harm, review leading
indicators and revise asset management practices to reduce risks.
DRIVER: Culture
We realise the importance of organisational culture to achieve business results. We therefore
continue to revitalise our culture. It is key that we align our organisational culture and strategic goals
to create an enabling environment for our business to reach its full potential and provide growth
opportunities for our people.
Working together as one Sasol team to revitalise our culture, we focus on safety, care, customers
and continuously improving our performance.
DRIVER: Accountability and performance
To build credibility and trust with our stakeholders, we need to deliver on our People, Planet,
Profit commitments.
Through our ways of work, and working as one Sasol team, we deliver business results.
DRIVER: Caring and inspiring leaders
Leaders who set the tone from the top are role models of our Values and key to business success
and to retaining critical talent.
Our Culture Transformation Journey is leader-led. Our inspirational and inclusive leaders
are visible and caring, they listen and act on the feedback from employees.
DRIVER: Climate change
Climate change is a top risk for us. We have prioritised climate action in our transition towards a
sustainable future business. We have applied a science-based target-setting approach and are
implementing measures taking into account mitigation potential, economic feasibility, technological
innovation, just transition and our fair share responsibility.
We recognise that business has a key role to play in managing climate change risks, as well as
realising opportunities that the energy transition can unlock.
DRIVER: Price of carbon
Several countries are implementing carbon pricing regulatory reforms through higher taxes, stringent
emission trading schemes and border taxes to encourage decarbonisation.
Carbon pricing continues to vary from region to region given the divergence in affordability and
incentives. Carbon border adjustment taxes are signalling negative impacts for emerging economies
still reliant on fossil fuels and could result in key sectors becoming uncompetitive sooner.
DRIVER: Stakeholder expectations
Stakeholders with competing mandates continue to advocate for science-based approaches,
accelerated climate action, stabilising production, as well as a just and equitable transition.
We expect continued pressure from stakeholders to decarbonise in a responsible manner
while remaining cognisant of national circumstances and the need to balance People, Planet
and Profit considerations.
DRIVER: Water availability
As water supply is a finite resource, its scarcity is a growing concern and an increasing problem globally.
As a result of demand exceeding supply, exacerbated by unsatisfactory water use practices, inadequate
infrastructure or institutions failing to balance everyone’s needs, depletion persists. The impact of
climate change is compounding the issue as water held in soil, snow and ice continues to diminish.
We have approved short-term targets as part of our contribution, but acknowledge that an
integrated, longer-term and inclusive approach must be taken to manage this finite resource.
We will play our role in catalysing a collaborative water stewardship approach – including managing
and monitoring water risks, setting meaningful savings targets, and improving usage disclosure.
SASOL INTEGRATED REPORT 2024
13
