Sasol squeezed to come clean about climate change risks
Not just environmentalists but investors are lobbying Sasol to reveal what it’s doing to sort out pollution
Sasol (https://www.sharenet.co.za/v3/quickshare.php?scode=SOL) is feeling the heat as pressure mounts for it to better disclose – and deal with – the risks that climate change poses to its business and the world at large.
The chemicals and synthetic fuels producer has a particularly pressing problem at its Secunda operations where it converts coal to fuel. It is said to be the largest single-point source of greenhouse gas emissions on the planet. Not just environmentalists but investors are now lobbying Sasol to reveal its exposure to climate change risks.
But the company is facing hard questions about sustainability on a number of fronts. For example, Sasol reckons replacing coal with gas as a feedstock at Secunda would alleviate its emissions problem. As it runs out of gas at its existing Pande and Tamne fields in Mozambique, it has been turning its focus to other areas in Mozambique and offshore on SA’s southern coast. ..