Page 14 - Respond 2022 Magazine
P. 14
Commitment Vale
to our planet Originally established on June 1,
1942 as state-owned Companhia
Vale do Rio Doce, Vale became a
private company ranking among
the largest mines in the world.
Our operations abroad cover
Over the past few years, we have We are uniquely positioned to reduce our approximately 30 countries that
seen increased recognition of the scopes 1 and 2 emissions, and on the road share our mission to transform
urgency to address the climate towards net zero. natural resources into prosperity
challenge, it is a threat to our Vale has a goal of reducing its absolute and sustainable development. In
society, which requires decisive operational emissions by 33% up to 2030, addition to mining, we work with
1
action from the private and the aligned with the Paris Agreement goal of logistics – railways, ports, terminals
public sectors. In this context, limiting global average temperature rise to and state-of-the-art infrastructure,
Vale is committed to facing this well below 2 degrees Celsius. energy and steel making.
challenge and turning it into an
opportunity. Our ambitions are We will invest between US$ 4-6bn up to
high, and our targets are bold. 2030 to achieve this target, prioritizing the
We have both the will and the most cost-efficient initiatives identified We have a world-class portfolio of iron
assets to be part of the solution, by Vale’s annually updated marginal ore and base metals that are critical to the
reinforced by our New Pact with abatement cost curve (MACC). world’s low-carbon transition. Today, almost
Society. 90% of our iron ore products have the high-
We are already industry leaders in quality required for the transition. Its usage
renewable energy to power our operations. results in lower fuel consumption and thus
Around 90% of our power consumption is emissions in the steelmaking process. Our
already renewable, mostly from our hydro Nickel and Copper products are among
powerplants, and we are on track to reach the lowest CO2 intensive in the industry,
the 100% in Brazil up to 2025, and globally, contributing to lower carbon emissions in
by 2030. Since 2018, we have taken its value chain, and are commonly used
important steps towards our commitment in high-energy battery cells. They are also
by adding wind and solar sources to our critical components for the technologies
matrix through long-term Power Purchase and the infrastructure required for the low-
Agreements and project implementation. carbon transition.
Vale has a world-class, low-carbon In this context, our product portfolio,
innovation program known as PowerShift, combined with our own initiatives, will
whose goal is to transform our energy matrix likely contribute to 15-25% of the targeted
by moving away from fossil fuels through emission reduction by 2035. Some
increased energy efficiency and renewable examples of initiatives we aim to scale
energy, zero-emissions technologies and up are energy-efficient agglomerates for
new processes. Since its launch, in 2018, direct reduction, natural gas-based HBI
we have implemented pilots across all our production and biomass-based pig iron
operations, paving the way to reach our production.
2030 targets, once proven successful and
implemented at scale. Since 2018, the share For the remaining 85-75% of scope 3
of renewables sources in Vale’s energy emissions reduction goal, we will lead
matrix evolved to 31% from 26%. through partnerships. We are already
engaging with our most relevant clients
We have a leading role in value chain to foster technological development and
decarbonization, transforming together. the adoption of lower carbon solutions in
Vale has unique assets and is well- iron ore. The steel sector has a massive
positioned to support its clients in reducing challenge in a net-zero scenario, as steel
their carbon footprint, so much that we production will increase by 12% in 2050,
were the first among our peers to set a while reducing CO2 emissions by 92% in the
quantitative target for scope 3. same period , according to the International
2
Energy Agency. At the same time, over
We will reduce net scope 3 emissions by a third of the technologies needed to
15% by 2035, based on the development decarbonize it by 2050 are still at the
3
of new products, nature-based solutions, prototype or demonstration phases , posing
increased energy efficiency, alternative a cost challenge in addition. Together
fuels for seaborn ore transport, and with our clients, we are monitoring the
partnership and engagement with clients regulatory frameworks under development
and suppliers. in different geographies, since those will be
12
