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Global investors criticise Sasol over greenhouse gas reduction targets

By David Whitehouse
Posted on Friday, 26 March 2021 17:29

Cooling towers of South African petro-chemical company Sasol's synthetic fuel plant in Secunda, north of Johannesburg, on March 1,2016.REUTERS/Siphiwe Sibeko

A global alliance of institutional investors has criticised South African energy and chemicals company Sasol for its strategy on reducing greenhouse gas emissions, and called on South African investors to press the company for action.

Climate Action 100+ is led by institutional investors which aims to pressure corporate emitters of greenhouse gases to clean up their act. It represents 545 global investors with $54trn in assets under management. The “net zero company benchmark” which Climate Action published for the first time this month defines nine indicators of success for business alignment with the goal of net zero emissions.