Vale S.A. — Ethics Grade F

Vale S.A. receives an overall ethics grade of F (14/100) on CancelCo's corporate accountability database. Sector: Mining & Metals. Market cap: Large Cap.

Category scores

• labor: 20
• privacy: 80
• consumer: 40
• environment: 5
• humanRights: 15

Documented incidents (3)

• Brumadinho Dam Failure (high, 2019) — A tailings dam at the Córrego do Feijão mine collapsed, releasing a mudflow that killed 270 people and caused massive environmental destruction. Investigations revealed the company was aware of stability issues prior to the collapse.
• Mariana Dam Disaster (high, 2015) — The Fundão tailings dam, operated by Samarco (a JV between Vale and BHP), collapsed, killing 19 people and polluting the Doce River across two states. It is considered one of the worst environmental disasters in Brazil's history.
• SEC Fraud Charges (medium, 2022) — The U.S. Securities and Exchange Commission charged Vale with making false and misleading claims about the safety of its dams in ESG reports before the Brumadinho disaster. The company settled the charges for $55.9 million.

Documented good deeds

• Net Zero Commitment — Vale committed to investing $6 billion to reduce direct and indirect carbon emissions (Scopes 1 and 2) by 33% by 2030 and becoming net-zero by 2050.

Ethical alternatives

• Fortescue Metals Group — Lower record of catastrophic industrial accidents and heavy investment in green hydrogen.