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)
Jevon Martin, the energy and decarbonization lead at Sibanye Stillwater, is the Chairperson of the Energy Intensive Users Group of South Africa council, and is a director of the organization (EIUG website, up-to-date April 2022)
Jevon Martin
InfluenceMap Data Point on Corporate - Influencer Relationship
(1 = weak, 10 = strong)
Jevon Martin, the energy and decarbonization lead at Sibanye Stillwater, is the Chairperson of the Energy Intensive Users Group of South Africa council, and is a director of the organization (EIUG website, up-to-date April 2022)
Jevon Martin
InfluenceMap Data Point on Corporate - Influencer Relationship
(1 = weak, 10 = strong)
Sibanye Stillwater is a member of Minerals Council South Africa, and has three company representatives on the board, including the company CEO Neal Froneman (MCSA Website, up-to-date March 2022)
InfluenceMap Data Point on Corporate - Influencer Relationship
(1 = weak, 10 = strong)
Sibanye Stillwater is a member of Minerals Council South Africa, and has three company representatives on the board, including the company CEO Neal Froneman (MCSA Website, up-to-date March 2022)
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: Sibanye Stillwater communicates top-line support for climate action, however its engagement on carbon tax and mandatory carbon reporting has been largely negative. The company appears to support green hydrogen and nuclear energy, and has shown top-line support for the energy transition.
Top-line Messaging on Climate Policy: Sibanye Stillwater has communicated top-line support for climate policy. The company appeared to support South Africa’s Climate Change Bill in its 2020 CDP response, and submitted comments suggesting changes to terminology to improve the bill’s clarity. In its June 2021 position statement on climate change, Sibanye Stillwater also supported the goals of the Paris Agreement, and supported the goal of reducing greenhouse gas emissions in line with 1.5°C of warming.
Engagement with Climate-Related Regulations: Sibanye Stillwater’s engagement with climate policy is limited to negative positions on carbon tax and mandatory carbon reporting. In its 2020 Integrated Report and 2021 CDP response, Sibanye Stillwater disclosed engagement on South Africa’s Carbon Tax. The company supported the tax, but successfully lobbied to exclude fugitive mine methane emissions from gold mining from South Africa's Carbon Tax, specifically to ensure the exclusion of the company’s Beatrix Methane Project from the tax. Sibanye Stillwater also engaged with mandatory carbon reporting in South Africa, as reported in its 2020 CDP response. The company successfully influenced the Department of Environment, Forestry and Fisheries to exclude fugitive methane emissions from gold mines from national carbon accounting, weakening the policy.
Positioning on Energy Transition: Sibanye Stillwater has communicated positive top-line positioning on the energy transition, and engaged positively on the South African Electricity Regulation Act. During a September 2021 Investor Day presentation, Sibanye Stillwater appeared to support the lifting of South Africa's embedded generation license threshold to 100MW under the Electricity Regulation Act. This allows project developers to produce their own energy, and opens up the energy sector to further wind and solar power generation. The company’s CEO Neal Froneman also appeared to support this reform in an August 2021 earnings call.
In a January 2022 Mining Weekly report, Sibanye Stillwater appeared to support the transition to renewable energy and the continued integration of wind and solar energy into South Africa’s energy mix. Additionally, in its 2020 Integrated Report, Sibanye Stillwater supported the use of green hydrogen in heavy industry. The company’s CEO Neal Froneman also appeared to support green hydrogen production in a November 2021 Mining Weekly report, stating that “we have significant confidence in the future of the hydrogen economy”. Furthermore, in a September 2021 investor day presentation, Froneman supported nuclear energy and its capacity to “compliment renewable energy”.
Industry Association Governance: Sibanye Stillwater has no dedicated disclosure on its industry association memberships, and failed to disclose its membership to the Energy Intensive Users Group South Africa, an organization that actively engages on climate change policy. The company disclosed its membership to the International Council on Mining and Metals in a 2020 press release. The company also disclosed its membership to Minerals Council South Africa, and its indirect membership to Business Unity South Africa, in its 2021 CDP response, wherein it disclosed its alignment with the organizations and their position on carbon tax. However, Sibanye Stillwater has not completed an audit of its industry associations and their positions on climate change policy.