Sasol Integrated Report 2024 - Book - Page 76
INTRODUCTION
ABOUT SASOL
STRATEGIC OVERVIEW
BUSINESSES
ESG
REMUNERATION REPORT
DATA AND ASSURANCE / ADMINISTRATION
ENVIRONMENT continued
CLIMATE CHANGE
OUR COMMITMENT
Sasol is committed to climate action. We acknowledge
the need to reduce greenhouse gas (GHG) emissions in
support of the Paris Agreement. This includes its goals
to limit global warming to well below 2°C while
pursuing efforts to limit the temperature increase
to 1,5°C. In 2021, we responded positively
to calls for a higher reduction ambition
by increasing our 2030 reduction target
and driving towards a net zero ambition.
OUR GROUP APPROACH
We are committed to transforming our business while protecting and growing shared value for stakeholders.
Our climate-action approach is focused on:
Optimising the emission reduction roadmap (ERR) to include value creation opportunities cognisant of external
factors, to ensure a balanced approach across people, planet and profit considerations;
Implementing a three-pillar emission reduction framework – Reduce emissions, Transform operations and
Shift our portfolio. (This framework is housed within the Strengthen and Grow and Transform phases of the
Sasol strategy);
Forging strategic partnerships with like-minded organisations to establish new sustainability businesses,
aligned with our vision and commitment to developing our sustainability competitive advantages for a low-carbon
future, decarbonisation and a just transition;
Using existing assets and applying energy and process efficiencies, integrating significant renewable energy and
reconfiguring assets to use lower- and low-carbon feedstocks such as green hydrogen and sustainable carbon; and
Advocating for coherent and integrated climate policy and a regulatory framework that enables a just and
equitable transition appropriately paced for the context in which we operate – and the need to ensure our
business’s financial sustainability.
TARGETED INTERVENTIONS
Adapting to evolving global dynamics
• Reduce absolute scope 1 and 2 emissions for Sasol
Energy and the international Chemicals businesses by
30% by 20301
Unless we respond decisively and timeously, global megatrends pose formidable – and growing
– risks to the sustainability of Sasol.
Around the world the transition to renewable energy is
gaining rapid momentum. Against a backdrop of mounting
geopolitical and trade tensions, nations are prioritising
energy security and driving the diversification of energy
sources, including fossil fuels. The need to address energy
poverty is also ramping up. The International Energy Agency
(IEA) estimates that investment in clean energy grew by as
much as 40% in just four years to 2023.
South Africa is among those nations taking decisive steps
to diversify its energy mix. The country faces fundamental
issues of energy security, to which Sasol’s continued
support and contribution are critical.
Sasol is fully committed to playing its part to support the
country’s ambitions to diversify its energy mix through
opportunities in gas-to-power, renewable power and
biomass-to-power. We aim to create sustainable value
into the future while decarbonising.
Doing so in a deliberate, expeditious and transparent
manner is an environmental and socio-economic imperative
for our business – it is also essential to our sustainability.
• Reduce absolute scope 3 emissions for Sasol Energy by
20% by 20302
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We believe that resetting our business will enhance cash
flow and enable our transition. In essence, our strategic
choices inform a path towards ensuring that Sasol remains
sustainable in the long term and in a low-carbon economy.
In delivering on our strategy, the triple bottom line – people,
planet and profit – continues to remain at the forefront of
our decision-making.
At Sasol, we are here for good – for the good of our people,
our planet and our stakeholders. Only if we are financially
sustainable will we be able to exploit our unique
technological, intellectual and human strengths to help
deliver meaningful, sustainable triple-bottom-line benefits.
SASOL INTEGRATED REPORT 2024
74
2
For the Sasol Energy and Chemicals businesses excluding Natref and Mozambique.
For Category 11 (sold products); applicable to Sasol Energy.
