Brazilian miner Vale, one of the world’s largest producers of iron ore, committed to power its global operations with clean energy by 2030, even as it said it would align its business with the 2015 United Nations conference on climate change in Paris.
Vale unveiled its “New Pact with Society” at its annual investor briefing in New York on Tuesday. The new thrust on environmental goals also included a commitment to limit its Scope 3 emissions, according to the Australian Financial Review.
Scope 3 emissions are indirect emissions from the activities of an organization, including the processing, use, and end-of-life treatments of its sold products. Vale said it would set milestones for the carbon emissions from its customers in the steel-making and shipping industries.
“We have the products to help our customers reduce their footprint: high-grade iron ore, pellets, and nickel, which will help electrify the world,” said Luciano Siani, Vale’s chief financial officer. “We will establish a Scope 3 steelmaking and shipping targets . . . ambitious targets to help our customers make the transition.”
The company would announce these targets next year, a spokeswoman for the company said, according to FT.
The company also said it was targeting net-zero emissions by 2050.
Vale undertook to quintuple its target for the reforestation and rehabilitation of degraded Amazon rainforest land located close to its mines.
Read the AFR article here.
Read the FT article here.
Image of Vale’s S11D Eliezer Batista Complex in Brazil: Vale.com