UN Global Compact

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Vale reaffirms its commitment to the United Nations Global Compact and the 2030 Agenda

Vale is committed to the United Nations Global Compact, of which it has been a member since 2007 and part of the LEAD group from 2011 to 2018. Due to the tragedy of the Brumadinho dam collapse, and out of respect for the institution and its members, Vale requested to withdraw in May 2019.

Since then, Vale has committed to fully repair the impacts caused and has focused on strengthening its governance, sustainability commitments, operational excellence (operational risk and asset management), health and safety, among other important aspects.

The Global Compact and its principles are very relevant for Vale. Being part of this network helps us to better address sustainability and human rights challenges. We have worked diligently to implement the 10 Principles, which are fundamental guidelines and compliance mechanisms.

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Global Compact Principles

2030 Agenda

Our performance on each of the 10 Global Compact Principles

Tema/Princípio

Topic

Principle

Human Rights

#1 Businesses should support and respect the protection of internationally proclaimed human rights.

Our commitment to human rights is present in all phases of the life cycle of our operations, from mineral exploration to mine closure, as well as in all of our businesses and joint ventures. Vale's Global Human Rights Policy is aligned with the main international references, such as the UN Guiding Principles on Business and Human Rights, the International Bill of Human Rights, the conventions of the International Labor Organization (ILO), the Guidelines for Multinational Enterprises of the Organization for Economic Cooperation and Development (OECD), among others.

Read more in Human Rights, Grievance Mechanism, and Reparation.

#2 Make sure that they are not complicit in human rights abuses.

The risk of human rights violations is integrated into Vale's Global Integrated Risk Map. All our operations consistently conduct risk and impact assessments, while also maintaining mechanisms for listening, remediation, monitoring, and reporting results and actions. We perform human rights risk assessments and due diligence in all our operations and critical projects. Additionally, the process includes the management of company suppliers, from the registration stage to contract management, including external human rights due diligence for suppliers that are part of the ESG risk criticality matrix.

Labour

#3 Businesses should uphold the freedom of association and the effective recognition of the right to collective bargaining.

Vale respects freedom of association and bases its actions on the Code of Conduct, local labor laws, the Eight Fundamental Conventions of the International Labor Organization (ILO) and the guidelines of the Organization for Economic Cooperation and Development (OECD). In situations where local legislation in a country where we operate restricts this right, we liaise with appropriate workers' organizations. In addition, this issue is part of the criteria used to assess the management of human rights, including those of our suppliers.

Read more in Human Rights, Our People and Suppliers.

#4 The elimination of all forms of forced and compulsory labour

In its Global Human Rights Policy and Code of Conduct, Vale prohibits in its operations and among its suppliers any type of employment practice that could be interpreted as equivalent to forced labor or slavery. Therefore, this topic is part of the criteria evaluated in the company's human rights management, including risk assessments and due diligence in its operations and for suppliers included in the ESG risk criticality matrix. In Brazil, we also monitor the Dirty List of the Ministry of Labor and Employment (MTE).

Read more in Human Rights, Suppliers and Risk Management.

#5 The effective abolition of child labour

In its Global Human Rights Policy and Code of Conduct, Vale prohibits the use of child labor in its operations and among its suppliers. Therefore, this topic is part of the criteria evaluated in the company's human rights management, including risk assessments and due diligence in its own operations and for suppliers included in the ESG Risk Criticality Matrix.

#6 The elimination of discrimination in respect of employment and occupation

We are committed to channeling our mobilizing power to make our workplace more diverse and inclusive, with structural and affirmative actions to accelerate the journey towards a more diverse, equitable and inclusive Vale. Among our commitments, we aim to increase the representation of women in the company to 26% by 2025 and to achieve that 40% of leadership positions in Brazil (managers and above) are held by people of African descent by 2026.

Diversity and inclusion topics are included in Vale's Global Human Rights Policy, Code of Conduct and Human Rights and Diversity Training. Any deviations or reports of discrimination should be reported to our Grievance Mechanism , which includes the Whistleblower Channel. In addition, we have recently implemented a telephone channel for employees and contractors in Brazil, operated by a specialized and independent team. This team is dedicated to listening, supporting, and guiding individuals facing situations of sexual harassment or discrimination.

Read more in Our People, Human Rights and Ethics & Compliance

Enviroment

#7 Businesses should support a precautionary approach to environmental challenges

As a mining company, Vale is intrinsically linked to nature. Understanding our business as part of nature and integrating our actions with its different components (biodiversity, water, climate, communities) is essential to minimize risks and impacts and ensure the long-term sustainability of our operations.

To manage the risks of the production process, minimize socio-environmental impacts and meet stakeholder demands, we base our environmental strategy and management on the Vale Management System (VPS), taking into account best practices and international standards such as ISO 14001. In addition, Vale adopts a risk management governance based on three lines of defense that define the relationship between different areas and hierarchies of the company and their respective scopes and responsibilities.

Vale has policies on sustainability, climate change, water resources, and mining and metallurgical waste management that guide its actions in these areas. In addition, the company's 2030 Agenda includes goals related to climate change, water, forests, and energy.

Another important initiative was the assessment of the main sources of information on the company's ESG (Environmental, Social and Governance) performance and the identification of areas for improvement in terms of best practices, which resulted in the ESG Gaps Action Plan. The fulfillment of this plan is one of Vale's commitments linked to the long-term compensation of its executives.

Read more in Nature, Climate, Our Commitments and Dams.

#8 Undertake initiatives to promote greater environmental responsibility

The management of environmental issues is carried out through the Vale’s integrated Production System (VPS), whose processes are implemented in all the Company's operations, in compliance with legislation, International Finance Corporation (IFC) guidelines and the Sarbanes-Oxley Act.

In addition to the Sustainability Policy, we have policies that guide our approach in specific areas, such as water resources, mining and metallurgical waste management, and climate change.

In the value chain, Vale selects suppliers in accordance with internal regulations and legislation, including the Principles of Conduct for Third Parties, the Sustainability Policy, the Health, Safety and Environment Guide for Suppliers, the Anti-Corruption Guide for Suppliers and Third Parties, the Global Human Rights Policy, and the Mobilization Guide.

The socio-environmental programs and plans that support the environmental licensing process establish goals and indicators related to risk management, as well as measures to prevent and mitigate impacts.

In addition, our 2030 Commitments include goals related to reducing pressure on nature, reducing our emissions and new water withdrawal, and seeking positive outcomes beyond impact management.

Read more in Our commitments, Nature, and Climate.

#9 Encourage the development and diffusion of environmentally friendly technologies

In our operations, we seek methods, technologies and practices that minimize our impact on natural resources.

Internally, we use technology to redesign our way of work, with the aim of eliminating risk scenarios and positioning ourselves as a leader in safety and risk management while promoting sustainability and climate change adaptation.

We maintain strategic collaborations with various partners in the open innovation ecosystem, including universities, startups, government and other corporations. These partnerships are designed to accelerate our innovation initiatives. Through the Vale System, which includes the Vale Fund and the Vale Technological Institute, we support, develop and finance research and innovation in areas such as biodiversity, species genome studies, climate change, mining, and others.

Anti-Corruption

#10 Businesses should work against corruption in all its forms, including extortion and bribery.

The Global Anti-Corruption Policy is the primary document on the subject and reaffirms Vale's commitment to doing business with integrity. Employees also have the Global Anti-Corruption Manual for practical guidance. Suppliers, on the other hand, are required to follow the guidance provided in the Anti-Corruption Guide, which was developed specifically for third parties. Anti-corruption policies are also included in the Ethics and Compliance Program.

Greenhouse
gases

- Reduce emissions (Scopes 1 and 2)
by 33% by 2030 and carbon neutron
by 2050

- Reduce net emissions (Scope 3)
by 15% by 2035

Energy

- 100% renewable electricity
consumption in Brazil by 2025
and globally by 2030

- Improve the global energy
efficiency indicator by 5%
from 2017 baseline by 2030

Forests

- Recover and protect over
500,000 ha of forest areas by 2030

Atmospheric
emissions

- Reduce Particulate Matter
emissions by 16% by 2030

- Reduce Sulfur Oxide
emissions by 16% by 2030

- Reduce Nitrogen Oxide
emissions by 10% by 2030

Water

- Reduce our specific use
of water by a further 7%,
with more significant targets
for units located in regions
with high or critical water stress

Social ambition

- Support the lifting of 500,000
people out of extreme poverty

- Neighboring Indigenous
Communities with UNDRIP
Rights Plans

- Rank in the TOP 3 in the social
requirements of the major external
indices and ratings

Diversity, equity,
and inclusion (DEI)

- Increase the presence of women
in the workforce to 26% by 2025
and 20% representation in
leadership positions (2030)

- Reach 40% of the leadership in
Brazil made up of black people
by 2026

Health and
safety

- Eliminate recordable
high-potential (N2) injuries by 2025

- Reduce the exposures to health
hazards in the workplace by 2025

Dams

- No tailings dams in critical
safety condition (emergency level 3)
by 2025

- Implementation of the GISTM in
operations: 90% conformance (2022),
100% conformance for tailings
storage structures of ‘extreme’ or
very ‘high consequence’ (2023); and
100% conformance for other
structures (2025)

- Decharacterize all dams built
in the upstream heightening
method by 2035