PROJECTS

Vale

Sector / Mining
Developed products
  • Inspire
    • Benchmark analysis
    • Climate strategy
    • Climate intelligence
    • Trend analysis
  • Engage
    • Sounding panel
    • Dialogue with stakeholders
  • Lead
    • Action guidelines
    • Governance model
    • Senior support to C-level
Sector / Mining
Developed products
  • Inspire
    • Benchmark analysis
    • Climate strategy
    • Climate intelligence
    • Trend analysis
  • Engage
    • Sounding panel
    • Dialogue with stakeholders
  • Lead
    • Action guidelines
    • Governance model
    • Senior support to C-level
The Project

Vale – ESG gaps (2021)

In 2021, Catavento supported Vale on its ESG agenda. The project was divided into two stages: (i) diagnosis and identification of critical topics and (ii) recommendation of best practices.

During the first part of the project, the Catavento team analyzed internal documents, including the Integrated Report and the ESG action plan, as well as evaluations from Sustainalytics, MSCI and DSJI. Additionally, interviews were conducted with various executives responsible for the company’s social and environmental agenda, in order to understand the expectations and the main challenges experienced by the company. Finally, 03 (three) critical themes were identified for further deepening and analysis.

In the following stage, Catavento mapped main trends associated with the ESG topics, as well as conducted benchmark analysis, based on public information. The benchmark analysis sought to focus on relevant commitments and goals, processes and initiatives and partnerships. At the end of this stage, improvement opportunities were identified and recommended to Vale.

Vale – Social ambition (2021)

Catavento was hired by Vale to help the company defining its new social ambition, as well as the main pillars of its operations. The project had the following main steps: (i) analyzing internal documentation and desk research; (ii) conducting interviews and internal engagement; (iii) conducting strategic workshops with Vale’s top leadership and executives.

During the first stage, internal documents were analyzed in order to understand the evolution, maturity and main challenges of Vale’s social agenda. In addition, the main trends in the social agenda, challenges and opportunities for the company were mapped, as well as best practices in the mining industry.

Additionally, in the second stage, internal interviews were conducted with company executives in order to understand the particularities of the social agenda, as well as to align expectations with the project.

Lastly, Catavento structured and facilitated 03 (three) strategic workshops for Vale’s top leadership and executives. The workshops aimed to identify critical elements for building the new social ambition. The main insights were consolidated and analyzed by Catavento, which presented them to the company’s leadership.

Past projects

Vale – Low Carbon Mining (2020)

Throughout 2020, Catavento supported Vale based on two main pillars: Low Carbon Mining and Sounding Panel.

The Low Carbon Mining pillar was based on the facilitation of the Low Carbon Forum and the strategic guidance for the climate agenda.

The Low Carbon Forum was created to define and supervise the implementation of Vale’s climate initiatives. It is coordinated by the Sustainability Executive Director, with the participation of Vale’s CEO and the Executive Directors of Ferrous Metals, Basic Metals, Business Support, Finance and Investor Relations. Catavento supported the formulation of the meetings’ agenda and the alignment with the teams involved, in addition to being responsible for preparing templates and facilitating meetings. Furthermore, the Catavento team conducted monthly presentations on the most relevant external trends and for Vale’s climate agenda, including benchmark analyzes from peers and other industries.

With regard to strategic guidance, Catavento supported Vale in defining climate goals and in its accountability to key stakeholders, through meetings with leaders and teams, in addition to reviewing  all documents related to climate change. In addition, Catavento prepared a monthly Climate Intelligence Bulletin, with the news and studies most relevant to the company’s agenda.

 

Vale – Sounding Panel 2020

In 2019, Catavento assisted Vale in structuring the Sounding Panel. Its main objective is to stimulate the listening capacity of Vale’s Executive Directors, in order to test concepts and recover credibility with different stakeholders, as well as to influence the integration of sustainability into the company’s business strategy.

The Sounding Panel is formed by 05 (five) independent stakeholders from different industries and geographies. The members’ main areas of knowledge are mining, energy, forest and technology. The composition of the Sounding Panel seeks to bring diversity and balance of experiences and perceptions. On the other hand, all members share characteristics considered relevant to the company, being executives / specialists recognized in their areas of expertise.

In addition to assisting in structuring the Sounding Panel and selecting members, Catavento is responsible for facilitating meetings. Among the main responsibilities, Catavento prepares briefings and pre-reading materials, and consolidates the main messages of the meetings. Clarissa Lins, founding partner of Catavento, is also responsible for moderating and conducting the meetings.

In 2020, 3 meetings were held with the permanent participation of the CEO and the alternate participation of Vale’s Executive Directors. Different topics considered relevant to the company were explored, including climate change, energy transition, low carbon mining, indigenous populations and COVID-19. The topics of shared-value and ESG perspectives for the mining sector were also addressed.

 

Vale – Low Carbon Mining (2019/2020)

Vigilant of its duty of reparation after the Brumadinho tragedy, Vale set out to rethink how it creates and shares value with its stakeholders, in light of the new demands of a changing society. In this context, it hired Catavento in August 2019 to formulate the company’s carbon neutral mining strategy.

The first stage of the project involved the internal engagement of more than 40 company executives, including members of the Board of Directors, Executive Board, directors and managers from related areas. The interviews and meetings aimed at mapping existing initiatives, expectations, challenges, and opportunities in the context of mining decarbonization.

The external context was incorporated through interviews with around 25 international and local experts in mining and climate change, in addition to investors. In addition, a trend analysis based on more than 100 documents aimed at mapping global trends that impact the mining sector, the challenge of decarbonizing the steel chain, challenges, and opportunities for mining companies.

Finally, a benchmark analysis of 5 mining companies with a focus on low carbon operations was developed to understand existing commitments, focuses of action and tools used.

After compiling the information collected internally and externally, Catavento proposed strategic guidelines for carbon neutral mining, which aim to reposition Vale as a leader in the area, including ambitious commitments such as carbon neutrality for scopes 1 and 2 in 2050, the adoption of goal aligned with the Paris Agreement for 2030, the use of 100% renewable electricity by 2030 and the protection and reforestation of 500 thousand hectares by 2030. The commitments announced at Vale Day, the company’s annual meeting with investors in New York and London, may be accessed here.

Based on the strategic guidelines on carbon neutral mining, Catavento proposed to update Vale’s Global Climate Change Policy. As part of the company’s repositioning, Catavento also proposed a new governance model for carbon neutral mining, including the suggestion of responsibilities and decision-making flow involving different areas of the company. In addition, a diagnosis was made of Vale’s adherence to the recommendations of the Task Force on Climate-related Financial Disclosures (TCFD), which included an analysis of best practices in reporting climate risks and opportunities, in addition to understanding how peers are adopting it.

About the client

Vale is one of the largest mining companies in the world, working with passion to transform natural resources into prosperity and sustainable development. The company is a global leader in iron ore, iron ore pellets and nickel. It operates in 27 countries on five continents producing manganese, ferro-alloys, copper, platinum-group metals (PGM), gold, silver, cobalt, metallurgical and thermal coal.

Source: website and Vale’s Sustainability Report

Contact

Address

General Garzon St, 22 / 302 Jardim Botânico 22470-010 – Rio de Janeiro, Brazil

Phone

+55 21 3495-1574