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Circular Economy
Apr 30, 2020

In 2019, Ecopetrol built a circular economy model applicable to Ecopetrol Group companies, taking into account the international, domestic and business context, competitiveness for sustainable growth, and contribution to the Sustainable Development Goals (SDG).

This model is based on the understanding of Circular Economy as “production and consumption systems that promote efficiency in the use of materials, water and energy, taking into account the resilience of the ecosystems, the circular use of material flows through the implementation of technological innovation, partnerships and collaborations between players, and the promotion of business models that respond to the fundamentals of sustainable development”.

The model includes the following components:

During 2020, the Company will identify its portfolio of priority circular economy initiatives, and new sustainable production and consumption business models will be structured for the continuous assessment of resources, closing the cycle of materials, water and energy to optimize efficiency in the production and consumption of materials, and minimizing environmental impacts.

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