Sa­sol pledges more cli­mate change ac­tion

The Citizen (KZN) - - Business -

Sa­sol, South Africa’s sec­ond-big­gest pro­ducer of green­house gases af­ter Eskom, has pledged more clar­ity on plans to re­duce its im­pact on the en­vi­ron­ment.

The com­pany, which to­gether with Eskom also pro­duces pol­lu­tants such as sul­phur diox­ide and par­tic­u­late emis­sions, said its long-term strat­egy would be re­leased next year.

Sa­sol has al­ready pledged to re­duce green­house gas emis­sions by at least 10% by 2030 in its in­au­gu­ral cli­mate-change re­port re­leased this year.

The com­pany will lay out plans to use more nat­u­ral gas, rather than coal, in its op­er­a­tions, as well as so-called green hy­dro­gen, which is pro­duced from re­new­able en­ergy sources, chief ex­ec­u­tive of­fi­cer Fleet­wood Grob­ler said at the com­pany’s an­nual gen­eral meet­ing.

Sa­sol is com­ing un­der pres­sure from en­vi­ron­men­tal ac­tivists and in­vestors to im­prove its per­for­mance on cli­mate mat­ters. The com­pany re­fused to put res­o­lu­tions de­mand­ing more clar­ity on its strat­egy to share­hold­ers and ac­tivists gath­ered out­side the meet­ing in Jo­han­nes­burg.

Grob­ler and chair­per­son Mandla Gantsho stressed that while the com­pany ac­knowl­edges its im­pact on cli­mate change, its ac­tions need to be bal­anced with South Africa’s in­equal­ity, poverty and un­em­ploy­ment lev­els in mind.

“No com­pany can have a sus­tain­able fu­ture with­out the sup­port and sym­pa­thy of so­ci­ety,” Grob­ler said. “This in­volves dif­fi­cult ques­tions of bal­ance.”

The suc­cess of cli­mate mit­i­ga­tion ef­forts will be one of the mea­sures used to de­ter­mine Sa­sol’s ex­ec­u­tives’ pay from 2021, Grob­ler said. – Bloomberg

10% amount Sa­sol has promised to cut emis­sions by 2030

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