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illuminem summarizes for you the essential news of the day. Read the full piece on Entrepreneur or enjoy below:
🗞️ Driving the news: South Africa's largest chemical company, Sasol, faces scrutiny over its Secunda coal-to-liquid refinery, the world's largest carbon emitter by volume
• The plant's significant emissions and Sasol's transition plans are central to a debate on environmental sustainability versus economic imperatives
🔭 The context: Sasol, a key player in South Africa's economy, is under pressure to align with global environmental standards
• The company says it accounts for roughly 5% of South Africa’s gross domestic product, making any reasonable progress on the environmental front unlikely
🌍 Why it matters for the planet: Sasol's environmental decisions at Secunda hold significant implications for global climate change efforts
• As a major emitter, the plant's transition to cleaner practices could demonstrate the feasibility and impact of decarbonizing large industrial operations, setting a vital example for similar entities worldwide
⏭️ What's next: The global community closely watches Sasol's approach to decarbonization, which could set a precedent for similar transitions in other carbon-intensive industries
💬 One quote: “We don’t want to see Sasol being left with stranded assets,” (Nazmeera Moola, chief sustainability officer at Ninety One)
📈 One stat: Sasol's Secunda plant emits more carbon dioxide than Portugal, underscoring the scale of its environmental impact
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