InfluenceMap Score
Performance Band
Organisation Score
Relationship Score
Metals & Mining
Rio de Janeiro, Brazil
Brands and Associated Companies:
Vale Fertilizantes
Official Web Site:

Climate Lobbying Overview: Vale appears to have mixed engagement with climate policy. The company has positive top-line messaging on climate action and the energy transition, but has mixed engagement on emissions trading schemes in Brazil and Canada. Vale also sits on the Energy and Climate Change Commitee at Eurometaux, which lobbies negatively on climate policy in the EU.

Top-line Messaging on Climate Policy: Vale recognizes the science of climate change in its corporate reporting in 2022, and appears generally supportive of climate action. In its 2021 Climate Change Report, published in October 2021, Vale expressed support for limiting global temperature increases to 2°C in line with the Paris Agreement. Eduardo Bartolomeo, the CEO of Vale, also supported limiting global temperature increases to 1.5°C in the company’s 2020 Integrated Report. Vale appears to support government intervention to price carbon into the economy. Vale’s ‘Climate Change’ webpage, accessed in January 2022, states support for climate policies which include a carbon price to “stimulate the transition to a low carbon economy”. In a November 2021 twitter thread, Vale supported the implementation of a global emissions trading system under Article 6 of the Paris Agreement, but with limited details regarding the level of ambition needed.

Engagement with Climate-related Regulations: Vale’s engagement with climate-related policy is largely focused on market-based mechanisms. In its 2021 Climate Change Report, published in October 2021, Vale supported emissions trading, stating that ‘a carbon market is crucial to enable the net-zero transition’. This is reiterated on Vale’s ‘Climate Change’ webpage on its corporate site, accessed in January 2022, which appears to support carbon pricing policies including a carbon tax and emissions trading schemes. Additionally, in Vale’s 2021 CDP response, the company disclosed its support for an emissions trading mechanism in Brazil.

Vale’s position on emissions trading in Canada is mixed. In its 2021 CDP response, Vale criticized the decision to scrap the Ontario Government’s cap and trade program in 2018. However, Vale’s opposition to the repeal of Ontario’s cap and trade program was primarily due to the risk of higher costs under Canada’s Federal Backstop program. Vale also appeared to oppose more ambitious GHG intensity thresholds under the Federal Backstop program in its 2021 CDP response.

In the same 2021 CDP response, Vale appeared to support regulations on mandatory carbon emission and fuel consumption reporting proposed by the International Maritime Organization (IMO). The company also appeared to support regulations focused on energy efficiency and climate goals to achieve the IMO's greenhouse gas emissions reduction targets.

Positioning on Energy Transition: Vale appears to support the transition of the energy mix across various sectors. In its 2021 Climate Change Report, published in October 2021, the company supported the decarbonization of the steel and international shipping industries. Similarly, Eduardo Bartolomeo, Vale’s CEO, appeared to support the decarbonization of the mining sector in a Q2 earnings call transcript in July 2021. Vale also appeared to support the phase-out of thermal coal in the energy mix in its 2021 Climate Change Report. Vale does cite the use of carbon capture, usage and storage (CCUS) to supplement the phase-out of thermal coal, however the company did not commit to a specific timeline for deployment, nor did it communicate the uncertainties and risks associated with CCUS.

The company appeared to support the electrification of transport in its 2021 Climate Change Report. In a November 2021 Op-ed by the news outlet iPolitics, Vale also appeard to support the development of the electric vehicle industry in Canada. Support for this was also stated in a February 2020 Q4 earnings call, and an April 2021 Q1 earnings call.

Industry Association Governance: Vale has disclosed a list of industry association memberships on its corporate website, and in its 2020 Integrated Report. However, both disclosures have limited or no further details of the nature of Vale’s membership to each association or their climate policy positions. The company has also not completed an audit of its industry associations and their positions on climate change policy. Vale sits on the Energy and Climate Change Commitee at Eurometaux, which lobbies negatively on climate policy in the EU. Vale is also a member of the Mining Association of Canada, which has mixed engagement on climate change regulation.

Additional Note: Vale is headquartered in Brazil, where InfluenceMap’s LobbyMap platform can currently only make a provisional assessment of corporate climate policy engagement, due to limited capability to access publicly available data on this issue. As it is possible that InfluenceMap is not yet able to fully capture evidence of Vale's climate policy engagement activities, these scores should be considered provisional at this time.

Strength of Relationship

How to Read our Relationship Score Map

In this section, we depict graphically the relationships the corporation has with trade associations, federations, advocacy groups and other third parties who may be acting on their behalf to influence climate change policy. Each of the columns above represents one relationship the corporation appears to have with such a third party. In these columns, the top, dark section represents the strength of the relationship the corporation has with the influencer. For example if a corporation's senior executive also held a key role in the trade association, we would deem this to be a strong relationship and it would be on the far left of the chart above, with the weaker ones to the right. Click on these grey shaded upper sections for details of these relationships. The middle section contains a link to the organization score details of the influencer concerned, so you can see the details of its climate change policy influence. Click on the middle sections for for details of the trade associations. The lower section contains the organization score of that influencer, the lower the more negatively it is influencing climate policy.