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PTCase Vale
Integrating Decarbonization Strategies
- Client: Vale S.A.
- Sector: Mining
- Scope: Decarbonization
- Tag: Direct Operations, Supply Chain, Product-Level Carbon Accounting
Founded in 1942, Vale went private in the 1990s and is now one of the largest mining companies in the world, with operations in around 30 countries. Vale kicked-off its climate change actions early on due to the relevance of its emissions and the complex nature of a global operation which is often subject of specific regulations and carbon pricing instruments.
Currently, Vale has a robust climate strategy, with publicly stated emission reduction targets and is actively working to meet its commitments through several pillars. As such, the company faces the challenge of integrating its decarbonization strategy within the business domain, which implies the need of continuously monitoring its GHG emissions in a highly complex context, including its own operations, its value chain and in the life cycle of its products. Further, the EU CBAM imposed new demands in emissions quantification and reporting.
Finally, the company’s goal is to lead the race to net zero emissions in the mining sector, demanding robust management throughout its business and support to strategic decision making, including technology adoption, process innovation and investments.
WayCarbon became a key partner for Vale in its sustainability agenda in 2017, with several projects carried out together. The support on GHG emissions across all scopes, included the implementation of a management and governance structure, allowing GHG data to be updated regularly to support target monitoring and decision making.
In addition, WayCarbon supports the identification and assessment of decarbonization path for new (greenfield) mining projects, process improvements (retrofitting, fuel switching and electrification) and technology adoption (autonomous equipment’s, endurance, logistics). This work is core to support Vale’s net zero emissions ambition.
Finally, WayCarbon supports on the integration of the climate and business agendas, evaluating opportunities in the sustainable finance landscape (i.e. bonds issuance), supporting the assessment to the voluntary carbon market by registering, monitoring, issuing and trading emission reduction certificates, conducting carbon footprint studies for several iron ore based products and supporting the adoption of EU CBAM requirements.
At the macro level, WayCarbon’s work, by delving into the company’s strategy, operations and value chains, supports Vale to direct its efforts towards an effective and efficient decarbonization pathway, maximizing the impact of the decarbonization strategy to the business.
By working with carbon accounting at product-level (carbon footprint), Vale is able to increase the resolution of data, deep diving into the decarbonization challenge and work on better alternatives to reduce its emissions. The specialized advisory allowed the company to adjust its course towards low-carbon mining, based on the engagement with its supply chain, the management of product carbon data and the design of new sustainable production routes, supporting its green transition and preparing its businesses to meet the import needs of the most climate-advanced markets.