Sasol’s new 2030 and 2050 decarbonisation targets to be ‘substantially higher’

South Africa’s carbon-heavy fuels and chemicals group Sasol is poised to announce a “substantially higher” target for the reduction of its greenhouse-gas emissions following an intensive period of financial and organisational restructuring during its 2021 financial year. The JSE-listed group took far-reaching actions – including selling $3.8-billion-worth of assets, slashing capital expenditure (capex) and securing savings of more than $2-billion – to deleverage its unsustainable balance sheet without resorting to the $2-billion rights issue initially mooted.