Vujo, Luca, welcome Vujo to you.
First, Sasol have made some firm climate commitments.
Would you just talk to me a little bit about them?
Thanks, Georgie.
We certainly have made firm commitments.
They include cutting our greenhouse gas emissions by 30%
by 2030 off our 2017 baseline.
And that really is focused around the scope one and scope 2
emissions, cutting our scope 3 missions in that.
By 20% and really focusing ourselves on the ultimate
ambition of being net 0 by 2050.
So that's essentially what the targets, the targets are and we
do believe especially when one is regards to our business and
the carbon intensity particularly of the South South
African value chain that these are are significant.
And and we have already been working over time because we if
you take going back to 2004, we've already cut 11,000,000
tonnes of CO2 of our of our operations in South Africa.
And so with that in mind, we do believe that we can be confident
about attaining the the objectives we've set ourselves
in the spread of 2030 and ultimately 2050.
Confidence, an important word, broaden it out if you would for
me, Luca, to the transition in South Africa more generally.
Is there confidence that this is achievable?
Well, South Africa is not short of challenges for sure, but
having worked with a coalition of 30 companies in South Africa
to unpack what net 0 pathway could look like, we have to say
South Africa is also not short of capabilities, both people and
companies and we need to acknowledge that this is a
transition.
So to phase out coal we also need to scale up alternative
solutions, the proven ones in the short term renewables,
biofuels, some gas as well and start scaling up progressively
the early stage green tech like green hydrogen, PTX, SAF and
there we see really incredible potential in South Africa and
incredible capability.
We take the example of Sasol with 70 years of engineering
capabilities in upgrading molecules and producing
synthetic fuels with Fisher traps.
So we do believe they are actually a great potential in
South Africa to to achieve this.
Well, yeah, if you would just talk to me through a few more of
the projects that are helping you achieve your climate
ambitions.
I think the, the first point Georgie to to raise in relation
to our 2030 targets, I mean we've been focused around
bringing in renewables.
We believe that renewables would contribute about 6, about 6% of
that 30% equally.
Energy efficiencies really just bringing efficiencies in our
processes including a reduction in the in the usage of coal will
add another 12% to getting us to that 30% and and of course they
equally will be a focus around boiler 10 downs bring in another
another 12%.
So, so we've got a clear plan around how we can go about this
in respect of 2030 doesn't make it easy, it's it's a challenging
environment looking into affordability and all that.
But we do believe that there are clear plans that could lead us
into attaining those those objectives.
Luca, can you tell me more about how companies are financing the
transition in South Africa?
George, this is an excellent question, particularly in the
context of the Global S Some of the companies in the Global S
have much more challenged balance sheet compared to the
Global North.
And so it is with the countries themselves who cannot put in
place incentive mechanisms like we have in the US or the
European Union.
So we need mechanisms beyond jet PS, we need more grants, we need
carbon credits and we need more importantly off takes from more
advanced economies to the global South in the places where the
premium can be afforded in early stages.
VUO, how is it at Sasol?
Well in in the spread of Sasol, firstly our focus is on using
our own resources in respect of the the period leading to 20-30
and that's that calls on us really getting our current
foundation business operating more efficiently to generate the
capital we require to invest.
But also, of course, we do need an appropriate carbon pricing
regime in South Africa that can equally enable us to make the
investments that we intend to make.