Sasol got a R8.1-billion profit boost last year thanks to the country’s fuel subsidies and its exemption from a South African carbon tax, according to the International Institute for Sustainable Development.
In a report, the institute says that Sasol’s proprietary coal-to-fuel technology is a significant source of greenhouse gases from its Secunda plant yet it still benefits from government policy on emissions and fuel price regulation. The company’s biggest shareholder is the fund manager that oversees state worker pensions, the Public Investment Corporation.
