Ecopetrol S.A. recognizes the existence of risks that may affect the achievement of strategic objectives. For this, the company has an enterprise risk management implemented since 2003, conceived under the strategic approach of ensuring the fulfillment of the organization’s objectives.
According to that, the enterprise risks management in ECOPETROL is currently part of the Compliance Vice presidency and it consists in the systematic application of the six phases of the Risk Management Cycle at the strategic levels of the company: Planning, Identification, Evaluation, Treatment, Monitoring and Communication. As part of this management, the Company’s Enterprise Risk Map is updated year by year and is approved by the Board of Directors.
Anticorruption and citizen service plan
Ecopetrol, in compliance with article 73 of Law 1474 (Colombian Anticorruption Statute), has an anticorruption and citizen service plan.
See relevant information about it (in Spanish) in the following link: https://www.ecopetrol.com.co/wps/portal/Home/es/NuestraEmpresa/eticaCumplimiento/EstrategiaAnticorrupcion/EstrategiaAnticorrupcionagina/