Sasol Limited, a prominent South African chemicals and energy company, has entered into a three-year agreement with Vertree Partners Limited, an international carbon solutions provider. This collaboration aims to facilitate access to high-quality carbon credits and climate investments as part of Sasol's efforts to address decarbonization and work toward achieving its net-zero objectives.

Under the memorandum of understanding (MoU) signed between the two entities, Vertree will support Sasol in developing robust pathways for decarbonization, managing associated risks, and making impactful investments in carbon reductions and removals.

Vertree Partners Limited, a subsidiary of Hartree Partners, specializes in decarbonization and environmental markets, offering guidance to companies and institutions in achieving their climate goals. Through established partnerships with project developers, investments in emerging market innovations, and insights into environmental markets, Vertree will assist Sasol by providing access to current and future supplies of high-quality carbon credits and other environmental investments.

Shamini Harrington, Sasol's Vice President for Climate Change, emphasized the potential of high-quality carbon credits to uplift communities and contribute to national imperatives related to poverty alleviation, employment, and inequality while simultaneously advancing decarbonization goals. She expressed excitement about collaborating with Vertree to establish the tools and frameworks necessary for credible carbon projects that address these imperatives.

Muireann Mageras, representing Vertree, expressed delight in initiating the partnership with Sasol and underscored the commitment to supporting Sasol in accelerating its decarbonization efforts while delivering credible environmental and social value through carbon-related projects and investments.

Sasol is actively transforming its business to align with an absolute net-zero ambition for scope 1, 2, and 3 (Category 11) emissions by 2050. This transformation includes interim targets of achieving a 30% reduction in absolute scope 1 and 2 emissions by 2030 and a 20% reduction in absolute scope 3 (Category 11) emissions over the same period. Sasol recognizes that well-designed and executed investments in nature and technology-based solutions can play a vital role in addressing challenging emissions while also delivering important environmental and social benefits. Importantly, carbon credits are intended to complement Sasol's existing emission reduction activities and are not meant to replace them.

 

Source: sasol.com

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