Brazilian miner Vale plans to invest up to 13 billion reais ($2.56 billion) in decarbonization initiatives to meet its voluntary emissions reduction targets and mitigate climate-related risks, a sustainability report showed on June 15.
The company did not specify the timeframe for the investment. The amount includes up to 4 billion reais for decarbonizing operations, with 24% invested in the medium term and 76% in the long term.
Another 8 billion reais is linked to building industrial complexes focused on low-carbon technologies, which includes steelmaking transition technologies and iron ore briquette development.
The remaining 1 billion reais would go for research and development, the firm said.
Vale invested 9 billion reais in decarbonization initiatives from 2020 to 2025.
