Socioenvironmental and institutional expenditures
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Among Vale’s expenditures are socioenvironmental and institutional external expenditures — or expenditures and investments for the benefit of society — governed by a dedicated policy. These expenditures are used toward fulfilling formal obligations, managing impacts, meeting commitments, and implementing initiatives aligned with our social ambition, business strategy and sustainability strategy.
We are committed to integrating sustainability into our businesses and leaving a positive economic, social, and environmental legacy wherever we operate. As part of these practices, we establish partnerships and implement initiatives that go beyond our obligations, in areas such as health, education, job creation, infrastructure, mobility, science, culture, biodiversity conservation, economic diversification, among others. By doing so, we contribute to development and improved quality of life in the communities where we operate.
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Governance over external expenditures
Social, environmental and institutional expenditures can be made by any department at Vale, provided they adhere to the principles, guidelines, prohibitions, and vetting/approval workflows established in internal policies.
All initiatives must comply with the Ethics & Compliance Program rules, and any investments that could result in harm to life, society, the environment, or Vale's reputation are prohibited. Vale does not assume any obligations that constitutionally belong to the Government. However, we may form partnerships with Governments, the third sector or other private entities in initiatives supporting public programs.
Detailed procedures are outlined in our Policy on Social, Environmental and Institutional Expenditure, including the classification of grant types and guidelines on planning and execution.
Any and all grant requests undergo prior vetting by our social, environmental, and institutional functions as well as Vale's Corporate Integrity team. This assessment covers aspects such as merit and adherence to our policies and Ethics and Compliance Program rules.
For additional information, see Vale’s Policy on Social, Environmental and Institutional Expenditure.
Vale Archive
Use of tax-deductible funding
Strategically allocated tax-deductible funding supplements our voluntary social expenditure, helping to strengthen our relationship with governments, social organizations, and the communities we serve while enhancing Vale’s reputation. Tax-deductible funding grants are awarded to initiatives across Brazil, leveraging federal tax incentive laws such as the Federal Culture Incentive Act (commonly known as the Rouanet Act), the Audiovisual Incentive Act, the Sports Incentive Act, the Youth Fund (FUMCAD/FIA), and the Elderly Fund.
We have also worked to empower advocacy councils and social institutions to leverage these tax incentives in support of public programs and to increase the number of grants awarded in municipalities where Vale operates.
Vale is Brazil’s leading provider of funding under sports and culture incentive laws, and one of the leading overall investors in these areas in the country. The total amount of grant funding available annually varies depending on financial performance, and the amount of this funding that is awarded in a given location is dependent on the presence of projects and organizations meeting both legal requirements and Vale's internal strategic criteria.
Culture funding grants are managed by the Vale Culture Institute, established in 2020 with a mission to democratize access to culture and support the social development of communities. Grants awarded under other incentive laws are managed via the Vale Foundation, which supports social initiatives and works to strengthen public programs across various domains.
By the numbers
In 2022, social, environmental and institutional expenditures totaled US$ 2.4 billion, including US$ 1.3 billion allocated to Brumadinho reparation activities, an increase of 83% compared to 2021, broken down as follows:
- US$ 766.9 million allocated to environmental initiatives, including internal expenditures by Vale, with the bulk of expenditure going to environmental liabilities, water resources, and air emissions.
US$ 1.609 billion allocated to social and institutional initiatives, largely in areas such as infrastructure and mobility, social protection, health, and culture. Of this amount, 6% was allocated in the form of tax-deductible funding grants to entitlement funds and 352 initiatives under four federal tax incentive laws: the Youth Fund, the Elderly Fund, the Federal Sports Incentive Act, and the Federal Cultural Incentive Act.
For further details, see the table below:
Vale Archive
External expenditures on social and institutional initiatives
| Funding allocated by topic/type (US$ million) | 2020 | 2021 | 2022 |
|---|---|---|---|
|
Reparation – Brumadinho
|
137.35
|
152.82
|
1,344.40
|
|
Voluntary Investment and Institutional Relations*
|
215.20
|
266.51
|
196.11
|
|
Company-funded
|
164.21
|
140.23
|
101.78
|
|
Health
|
114.32
|
49.99
|
24.31
|
|
Education
|
9.43
|
8.18
|
13.03
|
|
Support for organizations
|
5.57
|
10.27
|
10.41
|
|
Safety
|
7.70
|
19.42
|
9.24
|
|
Traditional and Indigenous Communities
|
3.04
|
8.27
|
8.23
|
|
Culture
|
4.91
|
7.48
|
7.08
|
|
Jobs and Livelihoods
|
6.14
|
2.86
|
4.95
|
|
Infrastructure and Mobility
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5.84
|
21.76
|
3.29
|
|
Other
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7.26
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12.02
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21.22
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|
Tax-Deductible Funds
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50.99
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126.28
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94.33
|
|
Culture Incentive Act
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28.68
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65.70
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53.96
|
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Elderly Fund
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7.14
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19.95
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13.49
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|
Youth Fund (FIA)
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7.14
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19.58
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13.39
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|
Sports Incentive Act
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7.00
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18.53
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13.49
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Other**
|
1.03
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2.52
|
-
|
|
Operational Impact Management*
|
7.15
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19.86
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37.61
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Compliance with Obligations*
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30.35
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34.34
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31.22
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Grand Total
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390.05
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473.53
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1,609.34
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* Excludes external expenditure on Brumadinho reparation activities, as these have been reported in a separate line item due to their significance. See here for further information.
** PRONON (National Cancer Care Program) and PRONAS/PCD (National Health Care Program for People with Disabilities).
Main social and environmental investment vehicles
The Vale Foundation is a non-profit, third-sector organization dedicated to supporting public programs and social development in the regions where Vale operates throughout Brazil.
With a presence in Espírito Santo, Maranhão, Minas Gerais, Pará, and Rio de Janeiro, the Vale Foundation’s core mission is to contribute to improving public health and education, working with municipal departments, social organizations and investment partners to provide dignified living standards and greater autonomy to communities where Vale operates.
Learn more: www.fundacaovale.org/en/home/
Vale believes that immersing in culture provides individuals with the opportunity to expand their knowledge, broaden their worldview, and create a new outlook on life. We invest in Brazilian cultural expressions in all their diversity through the Vale Culture Institute.
Established in 2020 to build on and amplify Vale’s more than two decades of investment in culture, the Institute supports and sponsors projects across Brazil, with focal areas including: Vale-owned museums and cultural centers, music and dance, heritage preservation, and festivals.
The Institute manages four cultural venues with free admission and outreach activities for diverse audiences: Memorial Minas Gerais Vale (MG), Museu Vale (ES), Centro Cultural Vale Maranhão (MA) and Casa da Cultura de Canaã dos Carajás (PA).
Learn more: https://institutoculturalvale.org/en
Vale’s corporate volunteering program was created with a mission to bring people together who share a desire to make a difference in the lives of those in need.
The Vale Volunteering Network is organized into 26 Regional Committees, located in five states where Vale operates in Brazil: Pará, Maranhão, Espírito Santo, Minas Gerais and Rio de Janeiro. These committees plan, direct, and execute volunteering initiatives in communities, engaging employees and people outside the company who are keen to engage in volunteer work. In 2022 our network organized approximately 500 volunteering initiatives involving more than 48,000 people from various communities in the regions where we operate.
Learn more: Vale Volunteering Network (in Portuguese)
The Vale Fund supports businesses with a positive social and environmental impact, helping to build a sustainable, fair, and inclusive economy, with a particular focus on the Amazon in Brazil.
It invests in more sustainable value chains that sustain new livelihoods and minimize impacts on natural resources, strategically supporting innovative business models, financial arrangements, and instruments to scale a sustainable backbone economy. In addition, the Vale Fund supports Vale’s broader sustainability goals, such as the 2030 Forest Goal.
Learn more: https://www.fundovale.org/en
ITV is a private institution dedicated to advancing science, technology, and innovation. A non-profit organization sponsored by Vale, ITV develops educational resources, research, and technological solutions for sustainability and mining.
The Institute offers two programs accredited by CAPES (Office for Improvement of Higher Education Faculty): a professional master’s degree program in Sustainable Use of Natural Resources in Tropical Regions and a program in Mining Process Instrumentation, Control, and Automation.
Learn more: https://www.itv.org/en
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