Vale is among the members of the International Mining and Metals Council (ICMM) who announced on Tuesday (5) the commitment to achieve the goal of zero net greenhouse gas (GHG) emissions from Scope 1 and 2 by 2050 or earlier, aligned with the ambitions of the Paris Agreement. The commitment was announced in an open letter signed by the CEOs of participating companies, which make up one-third of the global mining and metals industry. The emissions from Scope 1 and 2 refer to those under direct or indirect responsibility of the companies.

To achieve this goal, the companies have set some individual milestones, which include setting Scope 1 and 2 targets and accelerating action on Scope 3 GHG emissions related to the value chain. The goal of becoming carbon neutral by 2050 is already part of Vale's agenda, which has as its strategic priority to combat the impacts of climate change. To reduce emissions from Scope 1 and 2 by 33%, the company will make investments of between $4 billion and $6 billion by 2030, prioritizing innovative technologies and world-class, high-quality iron ore, nickel and copper portfolios critical to the low-carbon transition.

The goal of reducing Vale's net emissions of scope 3 by 2035 is a pioneer in the sector, with initiatives already in implementation. One example is the recent launch of green briquet, a disruptive technology developed internally and patented by the company, which has the potential to reduce emissions from steel customers by up to 10%. Vale has supported the decarbonization of the steel industry through joint initiatives with its customers, which include MoU with Ternium Brasil for the use of solutions such as briquet and biomass-based products with a lower carbon footprint (Tecnored). Recently, the company also signed a partnership with Boston Metals, a startup that aims to produce steel with zero CO2 emissions.

In Shipping, which is also part of Vale’s Scope 3 since the company does not own ships, Vale has tested, in partnership with shipowners, disruptive technologies on large vessels. The technologies are the Rotor Sails and the Air Lubrication (compressors that produce air bubbles at the bottom ship, reducing water friction with the hull). Both reduce fuel consumption and CO2 emissions.

The open letter, detailing the ICMM’s member commitments on climate change, is available at this link.