Private sector and climate change

Company News, Regulation & Policy    Nov 4, 2021 5:58 PM

The Colombian government opened a call for 500 companies to commit to carbon neutrality, receiving a positive response from the private sector.

Colombian authorities recalled that there are 103 companies registered so far, Portafolio reported.

The sector with the highest number of companies enrolled in this program is the construction and steel industry, with 15 companies corresponding to 14.6% of the total.

Another of the segments that participated the most in this call is hydrocarbons, with 10 companies, corresponding to 9.7% of the total.

Ecopetrol’s (NYSE: EC) Sustainability and Decarbonization Manager, Santiago Martínez Ochoa, said the NOC became the first in the oil and gas sector in Latin America to set a goal of zero net carbon emissions by 2050.

The company seeks to reduce emissions, venting and flaring, achieve energy efficiency and implement natural solutions. The firm has managed to reduce 52% of routine gas flaring between 2017 and 2021.

Martínez recalled that ECP inaugurated its second mega solar park in the municipality of Castilla La Nueva, Meta.

“With this new park, the Ecopetrol Group solidifies its position as the largest self-generator in the country from renewable sources with an installed capacity of 112MW,” Martinez highlighted.

In the automotive sector, Auteco S.A.S. stands out. Laura Cardona, Head of Environmental and Sustainability, said that the company wants to be the first assembler in the country certified as carbon neutral.

The company has offset 990 tons of CO2, equivalent to its footprint in 2019 and 2020, and has reduced energy consumption equivalent to 24 tons of carbon, implementing LED lighting in its buildings.

Plastilene is one of the companies that is certified carbon neutral, according to the definition of the Carbon Neutral Protocol 2020.

“As of January 2021 all plants in Colombia outside of free trade zones are using certified renewable energy,” said Ricardo Estrada, Vice President of Sustainability of the Plastilene Group.

Bottom-Line: Companies in the country have shown their commitment to combating climate change, betting on renewable energy and reducing their carbon footprint in a short time.

Perhaps, the country could move forward more quickly if the government would only commit to speed up prior consultations and environmental licenses…

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