GOVERNANCE AND RISK IN MINING: AN ANALYSIS OF THE DISCLOSURE OF ENVIRONMENTAL INFORMATION BY VALE S.A
DOI:
https://doi.org/10.56238/revgeov16n5-103Keywords:
Vale S.A, Sustainability, Governance, IFRS S1, IFRS S2Abstract
The growing global concern over the environmental impacts of business activities has driven initiatives aimed at standardizing and enhancing transparency in the disclosure of environmental, social, and governance (ESG) information, particularly in high-risk sectors such as mining. In this context, the adoption of IFRS S1 and S2 standards, issued by the International Financial Reporting Standards Foundation (IFRS), stands out as a means to improve the reporting of sustainability-related risks and opportunities. This study analyzes the disclosure of environmental and governance information by Vale S.A. between 2015 and 2023, focusing on corporate transparency and the company's alignment with the requirements established by IFRS S1 and S2. The research is descriptive, qualitative, and documentary in nature, based on the analysis of Reference Forms (FRE), Management Reports (RA), and explanatory notes published by the company, aiming to understand the evolution of socio-environmental risk disclosure practices following the Mariana (2015) and Brumadinho (2019) disasters. The findings reveal that prior to these events, Vale S.A. did not formally acknowledge critical operational risks in its corporate reports, incorporating such information only after the disasters, thus evidencing a predominantly reactive approach. Nevertheless, the company has since adopted international disclosure standards and improved its governance practices, demonstrating greater engagement with sustainable initiatives. However, significant gaps remain in the communication of operational risks, suggesting that full organizational transparency has not yet been achieved. The study concludes by emphasizing the importance of strengthening corporate governance and effectively adopting IFRS S1 and S2 as essential instruments for promoting clarity, accountability, and legitimacy in the disclosure of environmental and social information by organizations.
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