Sasol Limited
SSL
Energy
2
exclusion reasons
2 themes
This page is part of our public exclusion list — a transparency tool that shows which companies we screen out and why. It is not investment advice, and it is not an accusation. But it is subject to change as our understanding of the facts evolves.
Sasol Limited operates one of the world's largest coal-to-liquids (CTL) facilities, a core business activity that defines the company. Its Secunda complex in South Africa consumes approximately 30–35 million tons of thermal coal annually as feedstock to produce synthetic fuels and chemicals. The company mines roughly 40 million tons of saleable coal per year to supply this operation, with a portion exported. This integrated coal mining and consumption structure makes coal a primary business activity, not a peripheral fuel source.
While Sasol reports a strategic goal to replace coal-generated electricity with sustainable alternatives, its fundamental business model remains dependent on coal as a chemical feedstock. The company's recent capital investments, such as a new destoning plant launched to improve coal quality and strengthen operational performance, indicate a continued commitment to optimizing and extending the life of its coal-based assets.
Sasol Limited operates a large-scale coal-to-liquids (CTL) and gas-to-liquids (GTL) complex in Secunda, South Africa, which is the world’s single largest point-source of greenhouse gas emissions. Beyond its massive air pollution, the company’s operations have caused extensive documented environmental damage. The Secunda complex and its associated coal mining activities have degraded the Mpumalanga Highveld, contaminating soil and water resources with sulfur dioxide, nitrogen oxides, mercury, and other pollutants. A 2017 report titled “The Destruction of the Highveld Part 2: Burning Coal” detailed the ecological harm from Sasol’s operations, linking them to acid mine drainage and habitat destruction.
The company’s environmental record includes liability for significant pollution incidents. Sasol’s own regulatory filings acknowledge material risks from “environmental damage or pollution” and stipulate strict liability for certain violations under South African law. Its sustainability reporting framework, overseen by the Board’s Social and Ethics Committee, is designed to address the “potential to create significant degradation or pollution to the environment,” indicating the scale of inherent operational risk. While the company publishes sustainability and climate reports, its 2023 disclosure admitted it may not meet its 2030 emission reduction targets, and it remains the country's largest private greenhouse gas emitter.
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