Our approach to sustainability reporting
Sasol recognises that we have a particular responsibility to respect and care for the health and safety of our people, the environment and communities where we operate. We endeavour to continue delivering on our commitment to achieve zero harm and sustainability. This report sets out the importance of sustainability to our business and reflects on what Sasol has achieved over the past year, as well as how we can further position ourselves in relation to socio-economic pressures, particularly in the climate change arena, the Liquid Fuels Charter and the Broad-Based Black Economic Empowerment (B-BBEE) Charter for the South African Mining and Minerals Industry for our South African operations.
Building on the 2000 foundation of Sasol’s first formal commitment to sustainable development as a strategic priority, we recognise that the path to sustainability is a long-term journey.
While our strategy positions us for profitable, sustainable and inclusive growth, in an uncertain environment, characterised by resource pressures and growing demands for equitable access, there was a need to formalise and consolidate an approach to sustainability across the Group. We formalised the Sasol Sustainability Framework (the Framework), aimed at facilitating improved and integrated sustainability thinking across the Group, while guiding internal processes to allow for flexibility and continuity in decision-making. It is premised on the six capitals model, with a view that in using the six types of capital to deliver products or services, a sustainable organisation will be maintained and, where possible, enhance these stocks of capital assets while considering the wider sustainability issues affecting long-term profitability.
The following principles form the cornerstones of integrated thinking across the Group and have also informed the development of the Framework:
- future business focus: geared to develop organisational competencies creating both financial and societal value;
- partnership and transparency: a commitment to ethics and openness as the basis of trusted relationships;
- resource efficiency: optimising value in the context of increased resource pressure; and
- tangible opportunities for shared value: leveraging investments and positioning the Group to create value for the communities within our operational context.
The Framework is presented as a maturity curve evolving through four distinct stages, as outlined on the following page. This allows for flexibility across the Group as various operations are able to position at different stages appropriate to their strategy and business proposition. The stages are intended to be flexible enough to allow for learning and growth, at the same time encourage internal and external stakeholders to engage in dialogue on our value creation. The stages also guide us on how we manage the material matters.
We trust that you will find our sustainability reporting information, supplementing our Integrated Report, helpful and informative.
Dr Mandla SV Gantsho
28 August 2017