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Eskom, Arcelor among SA firms without emissions targets

Sasol, Anglo American and South32 are the only companies of the 10 that have linked executive remuneration to climate targets.

Eskom, which accounts for two-fifths of South Africa’s greenhouse-gas emissions, leads the country’s biggest emitters in its failure to set targets to reduce its impact on the climate, a report shows.

The state power utility, which produces most of its electricity from coal, also doesn’t disclose who at the company is responsible for assessing its climate-based risks, the Centre for Environmental Rights said in a report released today.

With its economy heavily dependent on mining and manufacturing, South Africa ranks as the continent’s biggest producer of greenhouse gases and matches the level produced by the UK, which has a gross domestic product almost eight times bigger.

Eskom, already the subject of lawsuits for air pollution that affects respiratory health, is one of five of the country’s 10 largest polluters that hasn’t set any reduction targets. Others include the local unit of ArcelorMittal, wood pulp company Sappi and cement producer PPC. Sasol, South Africa’s second-biggest emitter, has set a target, as have Anglo American and Gold Fields.

Sasol, Anglo American and South32 are the only companies of the 10 that have linked executive remuneration to climate targets, according to the report, which is the first of its kind in South Africa.

The non-profit organisation and legal firm also assessed the country’s five biggest banks and their attitude toward climate change and supporting fossil fuel projects. Of the five only Nedbank Group, the fourth-biggest, discloses its exposure to carbon assets — at 0.4% of its total assets.

© 2019 Bloomberg 

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So should Eskom look for a business partner in the restructuring process, this is likely to become an issue

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