GRAY MAGUIRE: Investors should be worried by Sasol’s smoke and mirrors
One of the world’s worst emitters of greenhouse gases is not taking serious steps to mitigate climate change
Sasol’s gamble that analysts at their shareholders’ companies possess only the most rudimentary of climate risk awareness is very bold indeed. Despite last week’s assertion by CEO Fleetwood Grobler of the seriousness with which the group is taking climate change, very little digging is required to disprove this position — and investors should be worried.
An international group called Climate Action 100+, representing over 500 investors with more than $47-trillion in assets under management, has placed Sasol among the top 100 worst emitters on the planet. It has been enlisted by the shareholder activist organisation Just Share to stress the seriousness of the matter ahead of Sasol’s annual general meeting on Friday...