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Sasol Governance of Ethics

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Accountability
The Sasol Limited Board of Directors is ultimately accountable for ethical business conduct in Sasol and to oversee ethical behaviour in accordance with the Sasol Code of Ethics.  

The Board has mandated the Nominations, Governance, Social and Ethics Committee (NGSE) of the Board to ensure that Sasol has effective ethics policies, structures and programmes to institutionalise and monitor ethics in the company.  The NGSE oversees, directs (with regards to ethics best practices, implementation programmes etc.) and monitors ethics in Sasol for and on behalf of the Board.

Responsibility
The responsibility for practical direction setting, strategy setting and management of ethics then becomes the responsibility of the Group Executive Committee (GEC).  The GEC has assigned the responsibility to oversee the direction and management of ethics governance on its behalf to the Combined Assurance and Disclosure Committee.

Execution
In order to provide execution capability and capacity to the tasks of setting and achieving ethical objectives, advancing an ethical culture and addressing ethics risks and opportunities, The GEC appointed the Group Ethics Office (GEO), headed by the Chief Ethics Officer, as a functionally independent office that is the custodian of a comprehensive and integrated ethics programme.  The purpose of the GEO is to:

  • be the custodian of Sasol’s code of ethics, ethics strategy and ethics programme;
  • develop, refine and roll-out comprehensive ethics strategies, programmes, tools and initiatives;
  • provide ethics assurance and governance for Sasol

Senior Vice Presidents (SVP) of the various Sasol business entities are accountable to their Executive Vice Presidents (EVP) for the implementation of the Sasol Code of Ethics and related policies in their businesses and are assisted by Ethics Officers that they have appointed for their respective entities.

The GEO facilitates compliance with the Code of Ethics and related policies by utilising the decentralised ethics community, especially the business entity ethics officers.

Functional independence
The Chief Ethics Officer reports to the Senior Vice President Governance and Ethics, who in turn reports to the Executive Vice President Advisory and Assurance (Company Secretary).  The Chief Ethics Officer, however, has the authority to raise matters of concern to the chair of the Sasol Audit Committee, chair of the NGSE Committee or the Chairman of the Board – without approval or fear of reprisal from the CEO, the Executive Vice President Advisory and Assurance, the Senior Vice President Governance and Ethics or any other senior manager, if so required by a situation.