Brazilian miner to spend $2bn to slash emissions by a third before 2030

Vale has also pledged to reach net zero emissions in scope 1 and 2 by 2050

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Vale has unveiled plans to invest $2 billion (£1.6bn) to cut both its direct and indirect carbon dioxide emissions by a third before 2030.

The Brazilian miner has also pledged to reach net zero emissions in scope 1 and 2 by 2050 and said it aims to lead the industry towards carbon-neutral mining.

It plans to adopt 100% electric locomotives, underground electric vehicles (EVs) and biofuel pelletising techniques.

Vale has also established the ‘Low Carbon Forum’ – this is a group led by the CEO and comprised of six executive directors and employees from different areas of the company, whose purpose is to guide the implementation of these commitments.

Eduardo Bartolomeo, Vale’s CEO, said: “This agenda is a result of a listening process, aligned with a real climate change-related demand from society for a robust reduction in emissions in the scope 1 and 2.

“We are stepping forward to develop a new pact with society with more transparency and responsibility.”

Luiz Eduardo Osorio, Executive Director for Institutional Relations, Communication and Sustainability, commented: “There are projects for the use of biodiesel in the area of base metals, energy efficiency, electrification of mines and railroads, biofuels in pelletising instead of coal and renewable energy because one of Vale’s goals is to achieve 100% of self-production of electric power from clean sources, such as wind and solar, in its plants around the world.”