While oil and gas giant Sasol held its annual general meeting (AGM), hundreds of environmental activists descended on its head office in Sandton, demanding commitment to move away from fossil fuels.
Activists also want 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.
“It appears to be highly unlikely that [Sasol] can achieve a 25% emission reduction in four years, between 2026 and 2030.
“Sasol has not set short-term emission reduction targets, nor has it committed to ensuring that its emissions do not increase in the next four years.
“Sasol has also failed to specify emission reduction targets between 2030 and 2050,” JustShare’s report read.
According to the report, Sasol first set an emission reduction target in 2019. But in 2020 and 2021, Sasol’s emissions increased.
The only renewable energy commitments made by Sasol, JustShare reports, is the procurement of 200 megawatts, as part of its 600 megawatt project with Air Liquide.
Earthlife Africa programme officer Ulrich Steenkamp said on Friday that Sasol should do “the responsible thing” and use the power of their vote to reject any future oil and coal plans.
“We urge Sasol’s shareholders to align themselves with the country’s Nationally Determined Contributions (NDCs) and future energy needs.
“Climate change has life-threatening impacts on the African continent, and we need to take #ClimateActionNow.”
Leanne Govindsamy, the head of corporate accountability and transparency at the Centre for Environmental Rights, said Sasol has also not yet disclosed any clear just transition plans to ensure mine rehabilitation, worker support or how communities affected by potential future mine closures and changes will be assisted.