Analysis of Vale S.A.'s Social and Environmental Disclosure Before, During, and After the Mariana and Brumadinho Dam Failures in Light of the Legitimacy Theory

Abstract

This study aimed to analyze, in light of Legitimacy Theory, the effects of the Mariana and Brumadinho dam failures on the sustainability information disclosure strategies adopted by Vale S.A. The research analyzed, using content analysis techniques, nine sustainability reports published by the mining company from 2013 to 2021, totaling 1,314 pages, with an average of 146 pages per report. The results of the research indicate that the company altered its disclosure strategies in the sustainability report in response to the Mariana and Brumadinho dam failures. Vale S.A. increased its social and environmental disclosure both in the years when the failures occurred and in the subsequent years, indicating an attempt to recover lost legitimacy, particularly after the Brumadinho disaster. The research contributes to the understanding of the disclosure strategies adopted by companies responsible for social and environmental damage.