Making the Green Transition Work for People and the Economy 2025

CASE STUDY 3 Vale This case study sets out highlights from Vale’s 2024 integrated report and ESG portal across several of the key considerations for embedding socioeconomic factors in corporate transitions. 49 Vale is a Brazilian multinational mining company headquartered in Rio De Janeiro, with extensive global reach. Vale is the world’s largest producer of iron ore and nickel, while also producing a range of transition-relevant inputs and generating a significant share of its own electricity, supporting Brazil’s power grid. Vale has approximately 174,000 direct and third-party employees worldwide, primarily involved in producing iron ore and metals for the energy transition across 17 countries. Vale’s vision for 2030 is to be an established global leader in mining, recognized for a superior portfolio, performance-driven culture, and its reputation as a trusted partner. The transition presents significant opportunities for mining incumbents, as demand for copper and other transition metals grows with applications in renewable energy and green infrastructure. Vale recognizes the need to support positive outcomes for stakeholders, including affected communities, in their 2024 integrated report. Set ambitionVale has set targets across key environmental and socioeconomic dimensions, aligned with the UN SDGs. These include, for example: –Helping 500,000 people leave extreme poverty, mapped to SDGs 1, 2, 3, 4, 5, 8, 10, 11 and 17 –Supporting indigenous communities neighbouring Vale’s operations in drawing up and implementing plans to uphold indigenous rights, mapped to SDGs 1, 2, 3, 4, 5, 8, 10, 11 and 17 –Reducing the number of exposures to harmful health agents in the workplace, mapped to SDGs 3 and 8 Engage stakeholders Given the potential for mining activities to generate significant social and environmental impacts in the communities in which Vale operates, maintaining place-based, open and transparent dialogues with impacted stakeholders is crucial. In 2024, Vale implemented 368 community relationship plans across eight countries, interacting with over 1,200 local communities. Through such plans, Vale can collaborate with communities to identify and monitor risks and implement successful mitigation actions. In Brazil in 2024, prioritized projects were targeted primarily towards income and work generation, support to entities, and education, with whole communities prioritized individual vulnerable groups. Collaborative initiatives included, for example: –Establishing women’s entrepreneurship programmes to spur employment and income opportunities –Promoting sustainable farming initiatives for rural communities adjacent to Vale power and rail operations –Improving community access through local road and bridge infrastructure projects Source: Vale (2025). ESG Portal. Available at: https://vale.com/esg/home; Vale (2025). Local Communities. Available at: https://vale.com/esg/local- communities#mapa. 49 Making the Green Transition Work for People and the Economy