Vale

Vale, headquartered in Brazil and operating in the Iron ores industry, has reported significant greenhouse gas emissions. In 2024, the company's total global emissions were approximately 475.95 billion kg CO2e, comprising about 7.4 billion kg CO2e of Scope 1 emissions, approximately 300 million kg CO2e of Scope 2 emissions, and around 458.5 billion kg CO2e of Scope 3 emissions. This follows emissions of approximately 458 billion kg CO2e in 2023 and about 464.1 billion kg CO2e in 2022.

Vale has established ambitious climate commitments. Their overarching goal is to achieve net zero emissions by 2050, in alignment with the Paris Agreement. For nearer-term reductions, Vale aims to decrease its absolute Scope 1 and 2 emissions by 33% by 2030, using 2017 as a base year. Additionally, the company is targeting a 15% reduction in net Scope 3 emissions by 2035, compared to the 2018 baseline.

While Vale is committed to these targets, the S&P Global data indicates that as of the latest update in 2023, the company's near-term Scope 1 and 2 reduction target was reported as being on track for both the two-year and five-year outlooks, with the Scope 3 reduction target also showing progress on the five-year outlook. However, the net zero targets for 2050 were not on track for either the two-year or five-year assessment. It is also noted that Vale's SBTi commitment status in the provided data shows "Commitment removed" or "Commitment Compliance Policy transitory grace period," with targets initially to be submitted by July 31, 2023.