We have expanded the list of climate policies we assess company engagement with to incorporate land-use related policy, referring to legislative or regulatory measures to enhance and protect ecosystems and land where carbon is being stored. Assessments under this category are currently underweighted in terms of their contribution to the overall company metrics. This weighting will be progressively increased over the next 6 months.
We adjusted the terminology used to describe the queries running down the left-hand side of our scoring matrix and added additional explanatory text to the info-boxes. This has no impact on the scores and methodology. It has been done following user feedback to improve clarity.
InfluenceMap Data Point on Corporate - Influencer Relationship
(1 = weak, 10 = strong)
Seriti Resources is a member of Minerals Council South Africa, and its CEO Mike Teke is a representative on the association's board (MCSA website, up-to-date May 2022)
Mike Teke
InfluenceMap Data Point on Corporate - Influencer Relationship
(1 = weak, 10 = strong)
Seriti Resources is a member of Minerals Council South Africa, and its CEO Mike Teke is a representative on the association's board (MCSA website, up-to-date May 2022)
Mike Teke
In this section, we depict graphically the relationships the corporation has with trade associations, federations, advocacy groups and other third parties who may be acting on their behalf to influence climate change policy. Each of the columns above represents one relationship the corporation appears to have with such a third party. In these columns, the top, dark section represents the strength of the relationship the corporation has with the influencer. For example if a corporation's senior executive also held a key role in the trade association, we would deem this to be a strong relationship and it would be on the far left of the chart above, with the weaker ones to the right. Click on these grey shaded upper sections for details of these relationships. The middle section contains a link to the organization score details of the influencer concerned, so you can see the details of its climate change policy influence. Click on the middle sections for for details of the trade associations. The lower section contains the organization score of that influencer, the lower the more negatively it is influencing climate policy.
Open PDF file of Data Source
Climate Lobbying Overview: Seriti Resources engages actively and negatively on the energy mix, advocating for the continued role of coal as an energy source in South Africa. However, the company appears to have limited top-line messaging on climate policy, and limited engagement on specific climate-related regulations.
Top-line Messaging on Climate Policy: Seriti Resources appears to have very limited top-line communications on climate policy. The company supported the Paris Agreement in its August 2022 low-carbon future fact sheet, however it has not disclosed a position on the need for government regulation to respond to climate change, or the need to reduce GHG emissions.
Engagement with Climate-Related Regulations: Seriti Resources does not appear to have any transparent public engagement with specific climate-related regulations. Seriti has also not responded to CDP’s climate change information request in 2021.
Positioning on Energy Transition: Seriti Resources has supported the continued role of coal in the energy mix in South Africa. In a February 2023 ESI Africa article, Seriti CFO Doug Gain was reported to have advocated for the role of thermal coal in the medium to long term in South Africa, stating that the country needs “more coal, coal for longer”. Similarly, In a May 2022 World Coal article, Seriti CEO Mike Teke supported the transition to ‘clean coal’ and renewables, and also supported the role for coal in the South African energy mix alongside renewables in a May 2022 Mining Weekly report. Furthermore, Teke also appeared to oppose the retirement of coal-fired power plants in a July 2021 Mining Weekly article, stating that the plants should be managed responsibly rather than shutting them down.
Despite this, Seriti Resources CEO Mike Teke appeared to support the decarbonization of the South African economy in an October 2021 press release. However, Teke did place this on the condition that South Africa’s industrial base cannot be destroyed. Additionally, on its corporate website, accessed in November 2022, Seriti Resources also appeared to support the closure of coal-fired power stations, with any residual production being dependent on carbon emissions abatement technology. This appears to be a change in position by Seriti. The company also appeared to support South Africa’s 30-year Integrated Resources plan, and the integration of renewable energy into the country’s energy mix.
Industry Association Governance: Seriti Resources has no dedicated disclosure on its industry association memberships, and does not disclose details of the nature of its memberships or its industry association’s climate policy positions. The company has also not completed an audit of its industry associations and their positions on climate change policy. Seriti is a member of the World Coal Association which has strongly and actively supported the role of coal in the future energy mix, and is also a member of Minerals Council South Africa which has lobbied negatively on South African climate change policy.