{"id":58035,"date":"2023-12-14T17:57:45","date_gmt":"2023-12-14T17:57:45","guid":{"rendered":"https:\/\/www.africa-press.net\/south-africa\/all-news\/sasol-says-critics-of-its-climate-record-have-flawed-understanding"},"modified":"2023-12-14T18:19:36","modified_gmt":"2023-12-14T18:19:36","slug":"sasol-says-critics-of-its-climate-record-have-flawed-understanding","status":"publish","type":"post","link":"https:\/\/www.africa-press.net\/south-africa\/all-news\/sasol-says-critics-of-its-climate-record-have-flawed-understanding","title":{"rendered":"Sasol says critics of its climate record have \u2018flawed understanding\u2019"},"content":{"rendered":"

Africa-Press – South-Africa. <\/strong><\/span>Sasol has hit back at investors who said they would reject its climate-change report at an annual general meeting last month before it was abandoned because of a protest.<\/p>\n

The petrochemicals company accused the investors, which included Ninety One and Old Mutual, of misconstruing its climate record in a letter to shareholders, a copy of which was seen by Bloomberg.<\/p>\n

Indicative proxy votes showed that the resolution would have been backed by more than 80% of its shareholders at the disrupted 17 November meeting, it said.<\/p>\n

\u201cThis is despite a vocal opposing minority often expressing views that were evident of a flawed understanding or based on inaccurate information,\u201d Johannesburg-based Sasol said.<\/p>\n

While Ninety One and OMIG hold only about 5% of Sasol\u2019s stock, they are among South Africa\u2019s most influential fund managers, and the public spat may heighten focus on Sasol\u2019s climate-change record.<\/p>\n

The company operates a petrochemicals complex at Secunda, which produces more of climate-warming gases than any other industrial plant on Earth, with its emissions exceeding those of Norway.<\/p>\n

Ninety One, which confirmed receiving the letter, is South Africa\u2019s biggest privately owned fund manager. It had questioned Sasol\u2019s ability to meet its emission reduction targets and to find enough gas to reduce the use of coal at Secunda.<\/p>\n

OMIG, which holds 4% of Sasol, went further and said it would also vote against the re-election of a non-executive director because it said she was responsible for overseeing the company\u2019s climate strategy.<\/p>\n

Sasol didn\u2019t respond to a request for comment. It has previously rejected OMIG\u2019s argument. Sasol has yet to set a date for a reconvened AGM.<\/p>\n

The company, South Africa\u2019s biggest by revenue, accounts for about a fifth of the nation\u2019s greenhouse gas emissions. It also emits other pollutants, including sulfur dioxide, which can cause heart attacks and strokes.<\/p>\n

The company has set a target of cutting emissions by 30% by 2030 and reaching net-zero emissions by 2050.<\/p>\n

For More News And Analysis About South-Africa<\/a> Follow Africa-Press<\/a><\/strong><\/p>\n","protected":false},"excerpt":{"rendered":"

Africa-Press – South-Africa. Sasol has hit back at investors who said they would reject its climate-change report at an annual general meeting last month before it was abandoned because of a protest. The petrochemicals company accused the investors, which included Ninety One and Old Mutual, of misconstruing its climate record in a letter to shareholders, […]<\/p>\n","protected":false},"author":84,"featured_media":58034,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[2,5],"tags":[274,315,275],"class_list":["post-58035","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-all-news","category-economy","tag-africa-press","tag-africa-press-south-africa","tag-south-africa-2"],"yoast_head":"\nSasol says critics of its climate record have \u2018flawed understanding\u2019 - South Africa<\/title>\n<meta name=\"description\" content=\"Sasol has hit back at investors who said they would reject its climate-change report at an annual general meeting last m ...\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.africa-press.net\/south-africa\/all-news\/sasol-says-critics-of-its-climate-record-have-flawed-understanding\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Sasol says critics of its climate record have \u2018flawed understanding\u2019\" \/>\n<meta property=\"og:description\" content=\"Sasol has hit back at investors who said they would reject its climate-change report at an annual general meeting last m ...\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.africa-press.net\/south-africa\/all-news\/sasol-says-critics-of-its-climate-record-have-flawed-understanding\" \/>\n<meta property=\"og:site_name\" content=\"South Africa\" \/>\n<meta property=\"article:publisher\" content=\"https:\/\/www.facebook.com\/AfricaPressTunisiaa\" \/>\n<meta property=\"article:published_time\" content=\"2023-12-14T17:57:45+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2023-12-14T18:19:36+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/static.africa-press.net\/south-africa\/sites\/31\/2023\/12\/sm_1702565294.487318.jpg\" \/>\n\t<meta property=\"og:image:width\" content=\"768\" \/>\n\t<meta property=\"og:image:height\" content=\"432\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/jpeg\" \/>\n<meta name=\"author\" content=\"cfeditoren\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"cfeditoren\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"2 minutes\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"Article\",\"@id\":\"https:\/\/www.africa-press.net\/south-africa\/all-news\/sasol-says-critics-of-its-climate-record-have-flawed-understanding#article\",\"isPartOf\":{\"@id\":\"https:\/\/www.africa-press.net\/south-africa\/all-news\/sasol-says-critics-of-its-climate-record-have-flawed-understanding\"},\"author\":{\"name\":\"cfeditoren\",\"@id\":\"https:\/\/www.africa-press.net\/south-africa\/#\/schema\/person\/068c7ab4e9634ae78ec5d54ec46598bb\"},\"headline\":\"Sasol says critics of its climate record have \u2018flawed understanding\u2019\",\"datePublished\":\"2023-12-14T17:57:45+00:00\",\"dateModified\":\"2023-12-14T18:19:36+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\/\/www.africa-press.net\/south-africa\/all-news\/sasol-says-critics-of-its-climate-record-have-flawed-understanding\"},\"wordCount\":345,\"commentCount\":0,\"image\":{\"@id\":\"https:\/\/www.africa-press.net\/south-africa\/all-news\/sasol-says-critics-of-its-climate-record-have-flawed-understanding#primaryimage\"},\"thumbnailUrl\":\"https:\/\/static.africa-press.net\/south-africa\/sites\/31\/2023\/12\/sm_1702565294.487318.jpg\",\"keywords\":[\"Africa Press\",\"Africa Press-South-Africa\",\"South-Africa\"],\"articleSection\":[\"all news\",\"economy\"],\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"CommentAction\",\"name\":\"Comment\",\"target\":[\"https:\/\/www.africa-press.net\/south-africa\/all-news\/sasol-says-critics-of-its-climate-record-have-flawed-understanding#respond\"]}]},{\"@type\":\"WebPage\",\"@id\":\"https:\/\/www.africa-press.net\/south-africa\/all-news\/sasol-says-critics-of-its-climate-record-have-flawed-understanding\",\"url\":\"https:\/\/www.africa-press.net\/south-africa\/all-news\/sasol-says-critics-of-its-climate-record-have-flawed-understanding\",\"name\":\"Sasol says critics of its climate record have \u2018flawed understanding\u2019 - 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