Vale was recognized as one of the leading companies in the Climate Change Program 2021, an award granted by CDP, an international organization that is a reference in the evaluation of the management of environmental goals of companies around the world. The company obtained, for the second consecutive year, the grade A -, above the average for the mining sector and the general ranking of companies that responded to the institution’s questionnaire last year. A wide network of investors, buyers and policymakers around the world use CDP as a data source for decision making. Vale has responded and published the questionnaire since 2003. The CDP Latin America Awards 2021 will take place next Thursday (24/02) in a virtual ceremony.
The scoring criteria consider an eight-note scale, between D- and A. The transparency of data on the companies’ environmental goals is evaluated; awareness of this information within the organization; data management by mapping risks and opportunities; and leadership in implementing best climate management practices. For the first time, the questionnaire was signed by Vale’s CEO, Eduardo Bartolomeo, which demonstrates the commitment of senior management to the company’s environmental goals.
Grade A – reflects that Vale is on the right track of best management practices on the subject. CDP found that the company has improved transparency of its scope 3 targets, with greater engagement of its value chain; increased the percentage of renewable sources in its electricity matrix, which today represents 90% of the total consumed; and advanced in risk communication. As points of improvement, CDP pointed out that there is an opportunity to accelerate initiatives to switch fossil fuels to increase the percentage of renewable sources in the energy matrix and the fact that the company’s carbon target has not yet been validated by the Science Based Targets initiative (SBTi), a non-profit organization that seeks to align corporate emission reduction commitments with climate science.