Brazilian miner Vale said in an ESG presentation Thursday that it planned to spend between $4 billion and $6 billion to reduce its Scope 1 and 2 emissions 33% by 2030, an initial step in its path towards net zero.
Vale intends to cut its Scope 1 and 2 absolute emissions, which stood at 14.1 Mt CO2e in 2017, by 33% to 9.5 Mt CO2e by 2030. (The Rio Times)
These emissions are accounted by metallurgy & pelletizing (57%), mining & logistics (32%), and electricity (11%).
The iron ore miner will drive decarbonization through technological actions in energy efficiency and renewables, bioenergy, electrification and new processes.
In electrification, Vale has initiated the 45 MWm Folha Larga Sul wind project, and the 193 MWm Sol do Cerrado solar project. Replacing haul trucks by conveyors, underground BEVs and electric locomotives are steps taken for cutting emissions in mining and logistics. In pelletization, Vale is developing innovative iron ore products (agglomerates) while continuing bioenergy industrial tests.
Further, Vale aims to cut Scope 3 net emissions 15% by 2035, and achieve net zero (Scope 1 and 2) by 2050.
Read The Rio Times article Here.
Download Vale’s Presentation Here
Image of Vale’s Path To Net Zero By 2050 (Scope 1 & 2): Vale ESG Webinar (June 24, 2021)