South African global chemicals and energy company, Sasol Limited, announces a three-year agreement to work with international carbon solutions provider, Vertree Partners Limited, on access to high-quality carbon credits and climate investments.
In accordance with a memorandum of understanding (MoU) signed between the two parties, Vertree will help Sasol devise robust pathways for decarbonisation, manage associated risks and make high-quality, high-impact investments in carbon reductions and removals as part of the company’s journey to net zero.
A wholly owned subsidiary of Hartree Partners, Vertree is focused on decarbonisation and environmental markets. Vertree’s experienced team assists companies and institutions to reach their climate goals. Through established partnerships with project developers, investments into new market innovations and environmental market insights, Vertree will guide Sasol and provide access to existing and future supplies of high-quality carbon credits and other environmental investments.
High-quality carbon credits can uplift communities and contribute positively towards national imperatives of alleviating poverty, unemployment and inequality while simultaneously meeting decarbonisation objectives. We are excited to start this journey with Vertree to put in place the tools and frameworks to ensure investment in credible carbon projects that deliver on these imperatives.
Sasol is transforming its business towards an absolute scope 1, 2 and 3 (Category 11) net zero ambition by 2050. This includes an interim 30% emissions reduction target on absolute scope 1 and 2 emissions by 2030, and a 20% reduction in absolute scope 3 (Category 11) emissions over the same period. Sasol believes that, if properly designed and delivered, investment in nature and technology-based solutions can play an important enabling role in addressing hard-to-abate emissions while realising other important environmental and social benefits. Carbon credits will only be used to supplement the company’s existing emission reduction activities and are not intended to replace them.
We are delighted to begin our partnership with Sasol. We are committed to supporting Sasol to accelerate its decarbonisation and ensure the delivery of credible environmental and social value through carbon-related projects and investments.
Sasol is a global chemicals and energy company. We harness our knowledge and expertise to integrate sophisticated technologies and processes into world-scale operating facilities. We strive to safely and sustainably source, produce and market a range of high-quality products in 22 countries, preserving and creating value for stakeholders.
About Vertree Partners
Vertree Partners enables leading companies and institutions to invest in both nature and innovative climate technologies to reach their decarbonisation goals. Founded in 2020, Vertree is focused on driving positive environmental and social impact, and providing its customers access to existing and future supply of high-integrity environmental commodities. It does this through directly financing quality emissions reductions and removals projects; partnering with renowned project developers; investing in innovative organisations and technology-based solutions; and providing its expertise in voluntary and compliance markets, trading, market analytics and risk management. Vertree is wholly owned by Hartree Partners, a leading energy and commodities trading firm with over 25 years’ experience in physical and financial, energy and commodities markets.