Our 2030 target to reduce Scope 1 and 2 emissions by 33% is aligned with the Paris Agreement and its goal to limit global warming to below to 2°C (WB2D). This target is from a 2017 baseline of 12.2 MtCO₂e, and was set using a science-based methodology.

Vale’s decarbonization roadmap comprises a range of renewable energy projects that will ultimately supply 100% of our electricity requirement from sustainable sources. This will support our targets to achieve net-zero Scope 2 emissions in Brazil by 2025 and globally by 2030. In 2022, we sourced 99.95% renewable electricity in Brazil and 86.67% in our global operations a major milestone in our decarbonization efforts.

We are also working to reach net-zero emissions across Scopes 1 and 2 by 2050. We will achieve this by reducing our absolute emissions through decarbonization in our operations and by offsetting any residual emissions through carbon sequestration projects and high-quality carbon credits, all aligned with international best practices.

In 2020, Vale became the world's first mining company to establish a quantifiable target for Scope 3 greenhouse gas emissions, or emissions throughout our value chain. These emissions account for 98% of our overall inventory and reducing them will involve collaboration with our suppliers and customers.

We have pledged to reduce net emissions within this scope by 15% by 2035, from a 2018 baseline. This is similarly a science-based target that aligns with the 2°C global warming scenario. We will review this target in 2025 and periodically thereafter to ensure alignment with technological developments and evolving climate policies.