We have expanded the list of climate policies we assess company engagement with to incorporate land-use related policy, referring to legislative or regulatory measures to enhance and protect ecosystems and land where carbon is being stored. Assessments under this category are currently underweighted in terms of their contribution to the overall company metrics. This weighting will be progressively increased over the next 6 months.
We adjusted the terminology used to describe the queries running down the left-hand side of our scoring matrix and added additional explanatory text to the info-boxes. This has no impact on the scores and methodology. It has been done following user feedback to improve clarity.
InfluenceMap Data Point on Corporate - Influencer Relationship
(1 = weak, 10 = strong)
Vale Europe Ltd is a member of the CBI Wales Council
InfluenceMap Data Point on Corporate - Influencer Relationship
(1 = weak, 10 = strong)
Vale is a direct member of the CBI Energy Intensive Users Group.
not specified
InfluenceMap Data Point on Corporate - Influencer Relationship
(1 = weak, 10 = strong)
Vale Europe Ltd is a member of the CBI Wales Council
InfluenceMap Data Point on Corporate - Influencer Relationship
(1 = weak, 10 = strong)
Vale is a direct member of the CBI Energy Intensive Users Group.
not specified
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.
Open PDF file of Data Source
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 carbon pricing policies in Brazil and Canada and appears to support the role of fossil gas in the energy mix.
Top-line Messaging on Climate Policy: Vale’s top-line messaging on climate change is broadly positive. On its ‘Sustainability’ webpage, accessed in August 2022, Vale appeared to support GHG emissions reductions in line with the temperature goals of the Paris Agreement, i.e. 1.5°C to 2°C. In its 2021 Integrated Report, published in May 2022, Vale supported the Paris Agreement along with a “robust” global emissions trading system under Article 6 of the treaty. Vale’s ‘Climate Change’ webpage, accessed in March 2023, also stated support for climate policies on carbon pricing to "stimulate transition to a low-carbon economy".
Engagement with Climate-related Regulations: Vale’s engagement with climate-related policy is largely focused on market-based mechanisms. On its ‘Climate Change’ webpage, last accessed in March 2023, the company appeared to support carbon pricing policies including carbon tax and emissions trading schemes. In its 2022 CDP response, the company supported the development of carbon pricing policies in Brazil and Canada. In the same 2022 response, Vale supported Canada's federal backstop program on carbon pricing. However, Vale appeared to oppose more ambitious GHG intensity thresholds under the Federal Backstop program in its 2021 CDP response.
In its 2022 CDP response, Vale also appeared to support the International Maritime Organization's (IMO) GHG emissions reduction targets, including: (1) a reduction of CO2 intensity by 40% by 2030 and 70% by 2050; (2) a reduction of total annual GHG emissions by 50% by 2050. In its 2021 CDP response, Vale appeared to support regulations on mandatory carbon emission and fuel consumption reporting proposed by the International Maritime Organization (IMO).
Positioning on Energy Transition: Vale appears to have a mixed position on the energy transition. In a July 2022 press release, Vale appeared to support the role of fossil gas as a “transitional fuel in the decarbonization process” without reference to the need for carbon capture, usage and storage (CCUS), describing it as a cleaner fuel compared to other sources such as fuel oil. In its 2021 Climate Change Report, published in October 2021, Vale supported the phase-out of thermal coal in the energy mix with reference to the need for CCUS. However, the company did not commit to a specific timeline for a phase-out of coal in the energy mix, nor did it communicate the uncertainties and risks associated with CCUS.
Vale appeared to support the electrification of transport in its 2021 Climate Change Report. 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, expressed broad support for the decarbonization of the mining sector in an ICMM newsletter in January 2023.
Industry Association Governance: Vale has disclosed a list of industry association memberships on its corporate website, and in its 2021 Integrated Report (published in May 2022). However, both disclosures have 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.
In its 2021 Integrated Report, Vale stated that “we are not involved with any association whose positioning and actions diverge from the goals of the Paris Agreement”. However, Vale sits on the Energy and Climate Change Committee 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.
InfluenceMap collects and assesses evidence of corporate climate policy engagement on a weekly basis, depending on the availability of information from each specific data source (for more information see our methodology). While this analysis flows through to the company’s scores each week, the summary above is updated periodically. This summary was last updated in Q4 2022.
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.