We are committed to effective risk management in pursuit of our strategic and business objectives, with the ultimate aim of growing shareholder value sustainably. Risk management is an integral part of our value-based strategy, our governance and day-to-day operations. Not only do we aim to deal with the uncertainty in the business environment by minimising the downside, we also seek to capitalise on the upside potential to achieve our strategic objectives.
Our risk management process
In 2017 we introduced the Sasol Enterprise Risk Management (ERM) Framework which sets the foundation for our businesses to effectively manage their risks in a standardised and systematic manner. We also introduced our new risk management process, which is aligned with Sasol’s operations excellence model (Plan, Do, Review, Improve) and aimed at efficiently managing and governing risk while enhancing the monitoring of risk. We employ this process in executing our strategy and business objectives as well as the day-to-day operational activities in order to meet stakeholder expectations.
In 2018, we continued with our efforts to ensure stronger integration between strategy and risk within a dynamic strategic context, and a changing business footprint. We continue to focus our efforts on enhancing our ability to effectively manage significant risk areas for the Group, including reputation risk, financial risk, improved investment decision making, environmental sustainability and day-to-day risks.
Governance and oversight of risk management
Please click here for a more detailed overview of Sasol’s full risk management framework.