ESG Gaps Action Plan - ESG
ESG Gaps Action Plan
Vale has analyzed and studied the methodology behind our leading ESG information providers. A gap analysis identified gaps concerning best practices, and we have mapped an action plan to close these gaps.
Most importantly, the C-level is fully engaged with ESG action plan to close the gaps, which has become one of our 2030 commitments that are now part of their long-term compensation.
For the coming years, Vale will continue to increase its level of engagement with ESG stakeholders and strive for improvements.
Some of the main advances between 2019 and 2021:
Executive Compensation –Greater detailing about the compensation and goals panel of our executives, in addition to the inclusion of ESG goals in the long-term compensation;
Board of Directors – The 2021 Annual General Meeting elected a board with majority independent and also an independent Chairman;
Dams – Improved disclosure of Emergency Action Plans for Mining Dams (PAEBMs) for structures in Brazil;
Waste management – We set a dry processing target for up to 70% of Vale's iron ore production by 2024;
Energy – Disclosure of the energy intensity by product and definition of a goal to reduce energy consumption;
Water and Climate Risks – Sensitivity analysis in relation to climate change and also stress tests for water and climate risks were carried out;
Community development – Our social ambition and KPIs for social goals were defined and disclosed;
Human rights – A due diligence process in respect of human rights was defined.
Vale aims to meet environmental management requirements, enabling the development of best practices in operations, through the implementation of ISO 14001. By the end of 2022, 75% of our operations already had ISO 14001 certification. We have a commitment set out in our ESG Gaps Action Plan to have all our operations ISO 14001 certified by the end of 2024.
Gaps by conclusion estimate