Brazilian mining giant Vale plans to invest up to 13 billion reais ($2.56 billion) in decarbonization projects. The company disclosed the investment in its latest sustainability report without providing a specific timeframe.
Vale allocated 4 billion reais to decarbonize its internal operations. Another 8 billion reais will fund low-carbon industrial hubs and green iron ore products. The company dedicated 1 billion reais to research and development.
This proactive spending aims to mitigate future climate-related costs estimated at 22 billion reais.