South Africa: Sasol sticks with blocking strategy on climate-change motions

By David Whitehouse

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Posted on October 28, 2021 13:05

A truck is seen at South African petro-chemical company Sasol’s synthetic fuel plant
South African petro-chemical company Sasol’s synthetic fuel plant in Secunda, north of Johannesburg. REUTERS/Siphiwe Sibeko

South African energy and chemical giant Sasol is under fire for again refusing to table a shareholder-proposed resolution on climate change.

On 12 October, the company  rejected a non-binding resolution from Just Share and Aeon Investment Management, which sought disclosure about “significant climate lobbying activities not addressed adequately, or at all” in Sasol’s 2021 Climate Change Report 2021. Sasol has refused to table a series of climate-change motions from investors over the past five years.

“Sasol’s refusals are not grounded in a consistent application of the law, nor in sound principles of corporate governance,” says Robyn Hugo, director of climate change engagement at Just Share. The company reached its decision “unilaterally, preventing its shareholders from giving their own view on whether these matters have been adequately addressed,” he adds. Sasol “appears to have set out, in every instance, to find reasons to prevent its shareholders from having an opportunity to vote on any resolutions other than those

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