Sasol Climate Change Report 2023 - Book - Page 74
INTRODUCTION
TRANSFORMING FOR RESILIENCE
GOVERNANCE
CLIMATE ADVOCACY AND POLICY
DATA AND ASSURANCE
CA 100+ NET ZERO BENCHMARK ASSESSMENT AND SASOL9S RESPONSE CONTINUED
CA 100+ ASSESSMENT
PAGES
SUB-INDICATOR 8.1 The company9s Board
has clear oversight of climate change.
SUB-INDICATOR 8.2 The company9s
executive remuneration scheme
incorporates climate change performance
elements.
SUB-INDICATOR 8.3 The Board has
sufficient capabilities/competencies to
assess and manage climate-related risks
and opportunities.
26,
28 3 29
SUB-INDICATOR 7.2 The company reviews
its own and its trade associations9 climate
policy engagement positions/activities.
SUB INDICATOR 9.1 The company has
committed to the principles of a just
transition.
SUB INDICATOR 9.2 The company has
disclosed how it is planning for and
monitoring progress towards a just
transition.
CAPS
CAPS
Not
Assessed
Disagree: Our climate advocacy position
and guiding principles are disclosed
annually in our CCR . Our policy
advocacy efforts are in line with the Paris
Agreement based on responsible
climate-related advocacy. In addition,
through our Advocacy Declaration, we
again underscored our commitment to
the Paris Agreement and accountable,
principles-based advocacy.
Disagree: We have previously published
a review of the alignment/positions of
our trade associations. This year, we
included a review of the alignment of our
climate change positions against our
advocacy principles.
PAGE
Agree: Our climate change targets are
included in executive remuneration
schemes and are linked to our STI and
LTI scorecards.
Disagree: The Board9s SSEC Chairperson
has a delegated mandate on climate
change matters. Our Board members
undergo regular training on climate
change and wider sustainability
matters. In April 2023, the Board9s
climate-change skills were bolstered
with the appointment of Mr Andreas
Schierenbeck, with expertise in
green hydrogen.
9,
57 3 60
61
59
9 JUST TRANSITION
28 3 29,
40
7 CLIMATE POLICY ENGAGEMENT
SUB-INDICATOR 7.1 The company commits
to conducting its policy engagement
activities in accordance with the goals of
the Paris Agreement.
Not
Assessed
4, 25, 39
Not
Assessed
Disagree: We have allocated
R15 3 25 billion (real 2023 terms)
cumulative capex to be spent by 2030
on decarbonisation. In addition, to our
sustainability capital allocation, we
have made a clear commitment to no
investments in new coal reserves and a
sustainability capex target of 10 3 15%
by 2030.
Disagree: Our capital allocation
framework provides key guiding
principles to progressively increase
capital for transforming the businesses.
We established a new business, Sasol
ecoFT, to produce sustainable fuels and
chemicals.
SASOL9S RESPONSE
Disagree: The Board has ultimate
accountability for climate change.
Ms Muriel Dube, Chairperson of the
Board9s SSEC is our climate champion
with delegated responsibility. The
Board9s SSEC has a delegated mandate
to oversee climate change matters.
Not
Assessed
SUB-INDICATOR 6.2 The company explains
how it intends to invest in climate
solutions (ie technologies and products
that will enable the economy to
decarbonise).
Aligned
8 CLIMATE GOVERNANCE
6 CAPITAL ALLOCATION ALIGNMENT
SUB-INDICATOR 6.1 The company is
working to decarbonise its capital
expenditures.
2021 2022 2023
Not
Assessed
Disagree: Our portfolio is shifting to FT
solutions that focus on sustainable fuels
and chemicals. We sold our first
sustainable products in 2022. We have
set targets for percentage renewable
energy usage and a sustainability capex
target but no metrics have as yet been
set for green revenues. Sasol produces
circular chemical products which makes
up a portion of our chemicals revenue
and we started producing our first
volumes of green hydrogen from the
Energy Business in 2023.
INDICATORS AND SUB-INDICATORS
Not
Assessed
SUB-INDICATOR 5.2 The company9s
decarbonisation strategy specifies the role
of climate solutions (ie technologies and
products that will enable the economy to
decarbonise).
Partially aligned
CA 100+ ASSESSMENT
2021 2022 2023 SASOL9S RESPONSE
Not
Assessed
Not
Assessed
INDICATORS AND SUB-INDICATORS
Not aligned
Disagree: We recognise the need for
just transition on our decarbonisation
pathway. Sasol9s just transition
52 3 54
approach is in development we have
put in place guiding principles that are
informing our roadmap.
Disagree: We have developed just
transition principles, a framework and a
53 3 54
phased roadmap to guide our approach
and initiatives.
10 TCFD ALIGNMENT
SUB-INDICATOR 10.1 The company has
publicly committed to implement the
recommendations of the Task Force on
Climate related Financial Disclosures (TCFD).
SUB-INDICATOR 10.2 The company employs
climate-scenario planning to test its
strategic and operational resilience.
SASOL CLIMATE CHANGE REPORT 2023
Agree: Sasol has progressively been
implementing TCFD recommendations
since 2018.
Agree: Our scenario analysis has been
revised and includes a net zero
pathway, aligned with a 1,5oC target.
We updated our scenarios to provide
for more challenging parameters, to
establish the robustness of our
businesses.
73
1, 70
23 3 24
