shareholder activism
Sasol under fire for climate dodge
Sasol has challenged Old Mutual Investment Group’s declaration that it will vote against three climate-related resolutions at the petrochemical giant’s AGM this week
Sasol has just demonstrated why institutional asset managers so rarely lift their heads above the parapet, even on issues that are of immense importance not only to investors but to the broader community. No matter how desperate a situation becomes, the institutions that control the country’s wealth prefer to engage behind closed doors.
Very occasionally a more thoughtful asset manager will balk at this modus operandi. Old Mutual Investment Group (OMIG) has done just that. When it publicly announced that it intends voting against three resolutions at the Sasol AGM on November 17, the chemicals and energy giant quickly slapped it down, calling the move “flawed and underpinned by conjecture”. ..
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