Sasol will spend up to R25bn to meet new emissions reduction target by 2030
Sasol has announced an ambitious revised strategy to reduce its greenhouse emissions.
The energy and chemical company has committed to be at net zero emissions by 2050.
In line with this, it plans to reduce its emissions by 30% by 2030 - tripling its initial reduction target of 10% .
Sasol is South Africa’s biggest private sector emitter of greenhouse gases.
The 2030 target can be delivered without divestments and offsets says Fleetwood Grobler, Sasol President and CEO.
He explains that direct decarbonisation of existing assets will be achieved through "a mix of energy and process efficiencies, investments in renewables and a shift to incremental natural gas as a transition feedstock".
An estimated R15bn-R25billon will be spent on the transition.
"It's quite an investment" acknowledges Grobler, in conversation with Arabile Gumede on The Money Show.
We ranged the cost to be between R15bn and R25bn that needs to be invested in the time frame between 2024 and 2027/2028 for us to realise this ambitionFleetwood Grobler, President and CEO - Sasol
It is going to be a substantial reduction if we look at the 30% of our baseline for our South African value chain and our international chemicals business that translate to almost 20 million tons of CO2 that will be reduced by pursuing this target... by 2030.Fleetwood Grobler, President and CEO - Sasol
Grobler outlines what can be expected in the energy field globally in the period after 2030.
That is the period when we believe the costs of renewables, green hydrogen and sustainable carbon sources will really come into play.Fleetwood Grobler, President and CEO - Sasol
We're not predicting... the exact time frame, but we know for sure that with the recent announcements with respect to focus on reducing the cost of green hydrogen as well as renewables, that is bound to happen.Fleetwood Grobler, President and CEO - Sasol
We will be ready to implement - in a very phased and incremental manner to start off with - green hydrogen and sustainable carbon sources into our facilities over time, commencing around 2030 time frame and beyond.Fleetwood Grobler, President and CEO - Sasol
Listen to the interview with the Sasol CEO below:
This article first appeared on CapeTalk : Sasol will spend up to R25bn to meet new emissions reduction target by 2030
Source : https://www.123rf.com/photo_101789314_glitter-lighting-of-petrochemical-plant-with-twilight-sky-gas-storage-sphere-tank-in-factory-of-petr.html?term=petrochemical&vti=lvjhxzj99g6xkbui5i-1-5