Ann Crotty Writer-at-large

Shareholders representing communities from across SA and Mozambique grilled the Sasol board for two hours at Friday’s annual general meeting about the petrochemical group’s environmental record and greenhouse gas emissions, which they said presented a major risk for investors and employees. The strong turnout marks a ratcheting up of engagement following Sasol’s refusal to table a resolution submitted by the Raith Foundation at the AGM. The resolution called on Sasol to prepare an annual report detailing how it is assessing and ensuring long-term corporate resilience in a future low-carbon economy. Sasol refused to table the resolution on the basis of legal advice. Sasol, which produces oil and chemicals from coal and gas, is one of SA’s 20 biggest companies and generated headline earnings of R17.8bn in 2018. It is also the biggest contributor to greenhouse gas (GHG) emissions on the JSE, pumping out more emissions each year than Portugal, and has been identified as one of the 100 f...

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