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Social Settings Management Strategy
Jun 24, 2020

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The Social Settings Management Strategy has as objective to contribute to the growth of the economic value of Ecopetrol and of the Business Group, by creating sustainable development conditions allowing the consolidation of operations and the viability of projects.It has as specific objectives:

This strategy establishes four strategic axes: Environmental management, Physical Security, Relationship and Social Investment. These axes are aligned with the Sustainable Development Goals (SDG) and the National Development Plan.

For Ecopetrol and its Business Group the relationship with the different stakeholders is the transversal axis that allows building long term and trusting relationships with the different actors in the areas where they operate.

The knowledge of territory in its social, cultural, economic, political, environmental and institutional aspects, allows identifying risks, as well as the impact that generates the presence of the Company in the territory, with the purpose of carrying out a responsible ans sustainable management of operational activities. This Knowledge allows identifying opportunities to improve the conditions of territory and contribute to sustainable development.

In this sense, the Social Settings Management Strategy corresponds to the set of actions aimed at building favorable conditions for the growth of Ecopetrol and its Business Group and, simultaneously, at generating conditions for sustainable development in the territories. The four strategic axes that support the Strategy are:

Environmental Management

In Ecopetrol and its Business Group, the environmental management seeks to prevent, control, mitigate and compensate the potential environmental impacts of operations and projects, in order to contribute to improving the environmental quality of the territories, where it operates and to sustainable development. Additionally, it obtains the permits and authorizations to carry out the works, projects, and activities of the competent authorities and monitors their strict compliance.

Likewise, they develop initiatives and projects of environmental investment, on a mandatory and voluntary basis, to manage the impacts and contribute to the conservation of natural resources in the region. Is based on the following components:

  • Comprehensive Water Management

  • Biodiversity

  • Climate Change

  • Circular Economy

  • Environmental Authorizations

Social Investment

The social investment of Ecopetrol and its Business Group has the essential purpose of contributing to the generation of sustainable development.

The portfolio of social investment projects of Ecopetrol and its Business Group is built by focusing the various initiatives on the investment lines; the projects that comprise it are identified and prioritized in consultation with the Stakeholders (national, departmental and local, society and community, among others), and are rigorously formulated and structured, and constitute an integral part of the company's plans.

These investments include projects the Group companies develop voluntarily, through their resources, and include those that are financed through the Works for Taxes mechanism, among others.

These investments by Ecopetrol and its Business Group will focus mainly on the following lines, which are described below:

Education, Sports and Health

Investment in education and sports has positive effects in the short, medium, and long term thanks to its capacity to generate human talent, improves the skills of the workforce, promotes social mobility and the peaceful resolution of conflicts. For Ecopetrol and its Business Group, it is of interest to promote school quality, coverage, and retention with a view to closing the educational gaps in their areas of interest and promoting healthy living practices:

  • Better quality: Investments that allow children to learn more and better through teacher training and provision of material.
  • Greater coverage: Activities aimed to expanding the number of places through financing the construction of new infrastructure, improvement, reconstruction or rehabilitation, and offering educational quotas or scholarships.
  • Increased school retention: Activities that encourage children and youth to remain in the school system. It includes quality improvement interventions, as well as the extension of the school day through activities, such as music schools, sports or the provision of pedagogical material and school furniture.

For its part, investments in health are aimed to improve the quality and access to health services, promoting the closing of gaps in this matter. According to the above, Ecopetrol and its Business Group make investments through the intervention of the infrastructure and the development of health workshops.

Inclusive Rural Development

Ecopetrol and its Business Group support the structuring and execution of initiatives that allow the consolidation of productive alternatives and inclusive and sustainable economic opportunities, aimed at improving the quality of life of small and medium rural producers, fishermen, and ethnic groups.

Social investment in this line focus on the implementation of projects in areas of interest to Ecopetrol and its Business Group, which main products are the development of agribusiness, the linkage of small and medium-sized producers to formal markets, the strengthening of their technical, organizational, and commercial capacities and skills; access to public goods and services for agricultural support in aspects such as credit, formalization of rural property, association, technical assistance, productive assets, insurance, technology transfer and commercialization, infrastructure for productive purposes, among others; as well as the recovery and conservation of the environment under the approach of sustainable use of natural resources within agricultural, livestock, aquaculture or fishing activities.

Entrepreneurship and Business Development

Strengthening the business fabric is a priority for Ecopetrol and its Business Group in developing its commitment to contribute to local development. It has been shown that Small and Medium Enterprises (MSMEs) are the largest generators of formal employment and large contributors to the Gross Domestic Product (GDP) of the regions and the country.

To that end, Ecopetrol and its Business Group will support and promote initiatives that foster the culture of entrepreneurship and innovation, the identification and promotion of ventures with scaling potential, the acceleration of MSMEs in the process of expansion and activities that strengthen the entrepreneurial ecosystem

In this way, it seeks to promote dynamism in the creation of formal jobs and a more robust business fabric.

Public and Community Infrastructure

Ecopetrol and its Business Group make investments in the construction, improvement, and rehabilitation of road infraestructue. Through these interventions Ecopetrol and its Business Group seek to improve the accessibility and land connectivity conditions necessary for the communities in the areas of their interest, in order to promote commercial exchange. Road infrastructure projects must be developed in harmony with the environment, articulated with the plans of national and local entities and in accordance with current diagnoses and regulations.

Likewise, it is made investments in infrastructure of community interest, such as community halls, playgrounds, and infrastructure for the practice of sport complemented by the programs of the territorial entities to improve the quality of life of citizens.

Public Services (gas, energy, water and basic sanitation)

Ecopetrol and its Business Group are interested in supporting the communities in the areas of interest with the expansion of coverage to electric power and fuel gas, as well as the development of sustainable schemes for the provision of these services with a comprehensive approach.

For its part, Ecopetrol's Comprehensive Water Management strategy (GIA for its Spanish acronym) seeks to articulate and strengthen the interventions of public and private actors present in the territory to reduce the gap in access to drinking water and basic sanitation. Projects such as the construction of drinking water treatment plants, the improvement of piped water and distribution systems, the optimization of service delivery systems, the structuring of projects with conventional and unconventional solutions and the definition of institutional strengthening models of service providers, are an example of investments in the areas of interest.

Relationship

The relationship of Ecopetrol and its Business Group seeks to build long-term and trusting relationships with the different actors in the territory, which favor, on the one hand, the achievement of business objectives; and on the other, the contribution to sustainable development. In this sense, the promotion and participation in different relationship spaces allows Ecopetrol and its Business Group, as one more actor in the territory, to share knowledge, expectations and requirements, disseminate information on company activities and results, participate in the territory planning and building long-term visions for development. The key components of this axis are:

Territorial Dialogue and Consultation

  • Commitments Management
  • Profit Sharing
  • Territory Management
  • Employability
  • Institutional and Community Strengthening

Physical Security

Physical Security Management seeks to implement a preventive model that incorporates every time more technology, supported by better contracts, excepcional support of the Public Force and more actions of judicialization, that facilitate the viability of the operations and projects of Ecopetrol and its Business Group. The components of the strategic axes are:

  • Protection of people
  • Protection of infraestructure
  • Continuity of operation and projects
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