Corporate ESG Practices in High-Risk Sectors: The case of Vale S.A.

Objective: This study seeks to examine the Environmental, Social, and Governance (ESG) practices adopted by corporations operating in high-risk sectors, with particular emphasis on the case of Vale S.A. following the Mariana and Brumadinho disasters in Brazil. Methodology: The research employs a qualitative methodology, grounded in a single-case study design. Documentary analysis was conducted on sustainability reports, institutional statements, and secondary data, with the objective of identifying discrepancies between the ESG narrative promoted by the company and its actual institutional conduct. Findings: The findings reveal a disjunction between the ESG commitments publicly communicated and the company’s operational realities. Although Vale has enhanced its ESG disclosures and reporting mechanisms, such initiatives proved insufficient to prevent reputational crises and recurring socio-environmental tragedies. The evidence suggests the prevalence of symbolic conformity, wherein governance rhetoric fails to translate into substantive organizational practices. Practical Implications: The study underscores the imperative of strengthening oversight and accountability mechanisms in ESG management, particularly in sectors characterized by elevated environmental and social exposure. Originality/Value: By analyzing a paradigmatic case within the Brazilian extractive industry, this research contributes to the broader discourse on institutional sustainability, ethical governance, and the risks of formalistic adherence to ESG frameworks.