S. Africa: Sasol’s shareholders endorse the company’s climate change plans, despite concerns from environmental activists
South Africa’s second-biggest greenhouse gas (GHG) emitter Sasol plans to become a net zero emitter by 2050. Sasol announced its GHG emissions would be reduced by 30 percent across its energy and chemical value chains in southern Africa by 2030. This is up from the previous 10 percent target. The group committed to using between 10 and 15 percent of its capital spending towards meeting the 30 percent GHG reduction target up to 2030. However, the Centre for Environmental Rights (CER) on Friday voiced its disappointment after Sasol’s shareholders endorsed the company’s climate change plans, saying the overwhelming vote reflected the failure of investors to interrogate or understand the significant gaps in the company’s plans. This is despite the fact that environmental defenders descended on the group’s AGM the previous week demanding that its shareholders to commit to moving away from fossil fuels, and to accelerate a just energy transition. The environmental activists also wanted Sasol and its shareholders to accelerate the country’s just transition, which commits to significantly reducing carbon dioxide emissions, and moving towards greener energy alternatives.