Management with Stakeholders

Apr 13, 2021

In line with the ISO 26000 Standard, stakeholder management establishes the guidelines to promote responsible business management of Ecopetrol with each of its seven stakeholders.

The seven Ecopetrol stakeholders updated to 2020 are:

  • Investors (ACC)
  • Associates and partners (ASO)
  • Clients (CLI)
  • Employees, retirees and their beneficiaries (EMP)
  • The State (EST)
  • Suppliers, Contractors and their employees (PRO)
  • The Society and the Community (SC)

For each stakeholder identified, a responsible area is assigned within the company, which defines the following elements:

  • VALUE PROMISE: Statement that gathers the fundamental elements of the value proposition of the company towards each stakeholder, in the context of the exercise of corporate responsibility. It is built taking into account the expectations of the IGs and the strategic possibilities and interests of the company.
  • CORPORATE RESPONSIBILITY OBJECTIVES: These are statements of achievements and goals that must be reached to fulfill the value promise established for each stakeholder.
  • INDICATORS: These are verifiable measures of change or results that allow to monitoring the achievement of the objectives and promise of value established for each stakeholder.
  • SUB IGs: These are the groups that can be formed within each group. They are built from the identification of common characteristics that are relevant in regards to relationships.

Management scheme with Stakeholders and their value promise


  • Investors. Generating a solid, trust-based relationship with Shareholders and Investors through timely delivery of reliable and quality information.
  • Society and Community. Contribute to the growth of economic value for Ecopetrol S.A. and the Corporate Group by creating sustainable development conditions that enable the consolidation of operations and feasibility of projects.
  • State. Contributing to accountability in the hydrocarbon sector, and to promote respect for human rights across all of our activities and operations.
  • Suppliers, Contractors and their Employees. Transparency and clear rules in a mutually beneficial relationship.
  • Employees, pensioners and their beneficiaries. Adding value through Human Talent Management, QoL and well-being for people.
  • Clients. We build long-term, trust-based relationships with our clients to become allies in their business.
  • Associates and Partners. Ensuring sustainable joint business within a framework of transparent, reliable, efficient and mutual relations

Interest Groups and subgroups

Interest Groups



Shareholders (Natural Persons)


Associates and Partners

Associates – Production partners with active participation

Associates – Production partners with marginal participation


Crude Oil clients

Fuel clients

Petrochemical and industrial clients

Natural gas / LPG clients

Suppliers, contractors and their employees

Strategic suppliers

Core suppliers

Leverage suppliers

Routine suppliers

Contractor employees

Suppliers of crude oils, products, petrochemical and industrial products

Employees, pensioners and their beneficiaries




The State




Control bodies

Attorney General’s Offices

Ombudsman’s Offices

The Society and the Community



Associations and Guilds

Scientific / Academic community

Volunteer organizations


Community Action Boards

Asojuntas / Asocomunal CAB Associations

Community Leaders / Social Leaders


Citizen Oversight organizations

Ethnic communities


Commitment management

Ecopetrol’s Relationship with its stakeholders seeks to build relationships of trust and mutual benefit that leverage the achievement of business objectives, contribute to the sustainable development of the environment and enable the sustainability of the business.

Derived from this relationship and within the framework of the different participation scenarios, it is usual that commitments are established between Ecopetrol and its Stakeholders, the fulfillment of which strengthens the construction of long-term relationships.

This process is measured with the Commitment Management indicator, whose accumulated result for 2020 is 99.94% and whose evolution in the last 8 years is as follows:

Source: Ecopetrol, Citizen Participation Office

Management monitoring with Stakeholders

A monthly monitoring report is issued at the national level, and 6 monitoring reports are generated every two months in the Bogotá, Pacific Caribbean, Central, East, Orinoco and South regions, which are sent by email to senior management, professionals from management of all areas of the company and other leaders and professionals related to Stakeholder Management (currently a population of more than 200 employees). Additionally, these reports are published on the OPC’s Sharepoint site on the corporate intranet, for the free consultation of company officials. 12 national reports and 36 regional reports were published in 2020.

This analysis tool shows the perceptions of the different Stakeholders regarding the relationship with the Company; information that can be viewed from different angles such as the stakeholder group, the regional one, the type of request, the areas they manage and the relevant issues. We currently have a slightly more than 111 groupings of themes and a total of 1,017 individual themes, which help to identify the processes, products or services that are negatively perceived by Stakeholders with greater clarity and precision.

The analysis of the complaints and dissatisfactions presented in the last 8 years are reflected in the monitoring reports and shows that the IGs that accumulate the most dissatisfactions are Community and Society, Employees, Retirees and their beneficiaries and Suppliers; whilst the regional branch that concentrates the largest amount of PQRS (questions, complaints, claims and suggestions) is the Central region.

Below are the graphs that illustrate this behavior:

Source: Ecopetrol, Citizen Participation Office


In addition to the reports, the Stakeholder Dissatisfaction Alerts Report is carried out on a monthly basis in order to alert the organization about the behavior of the issues that represent risks, seeking for such dissatisfactions tend to zero. This is done by identifying the root cause of the dissatisfaction and the establishment of improvement or mitigation plans. This reported is presented through the following traffic light:

Red:               Above control levels

Yellow:           Within control levels

Green:            Below control levels


By grouping the 22 topics that are monitored today, it is possible to analyze the behavior of approximately 80% of all complaints. This makes it possible to identify whether dissatisfaction increases or decreases on a group of topics, as a starting point for the analysis of the causes of deviations.

This monitoring exercise has made it possible to detect opportunities for improvement in the processes, products or services of the Organization, which are reflected in action plans defined and executed by the responsible areas, in the search for the solution of the root causes of the problems detected. Improvement plans have been generated for different topics since 2013 – including the following: Dissatisfaction with health services, presumed breach of civil and labor obligations by contractors, damages to third parties generated by Ecopetrol or contractors.


Ecopetrol is one of the leading companies in Colombia in the practice of the constitutional exercise of accountability to its Interest Groups (IGs). In addition to the traditional mechanisms established by law, Ecopetrol has a large number of channels, specialized events and written reports that reaffirm our commitment to transparency in information.

Any citizen who seeks to communicate with the Company from anywhere in the world – or request information about its management – can do so in a fluid and permanent manner through established mechanisms to guarantee transparency and access to information. Below some of said mechanisms, inter alia:

  • General Shareholders Meeting. This scenario has been held annually since 2008 and reports the Company’s results in detail to shareholders, as well as the decisions made by the Board of Directors. More than 10,000 shareholders from all over the country attend this meeting on average.
  • Participation scenarios. Events focused on specific topics such as: Discussions on matters of interest to communities, meetings with suppliers, shareholders and clients.
  • Information on the website. It contains updated information on the company’s operations and results, as well as relevant information for each Stakeholder.
  • Integrated sustainable management report. This annual publication includes general information about the company, its value chain and its operational processes, financial results, share behavior, risk management and, in general the management of the company in its economic, social and environmental aspects.
  • Attention to requests for information. All citizens can access company information through information requests, which are addressed within the terms provided in the law that regulates the right to petition.

Environmental claims

232 claims were attended (including cases classified as complaints and claims) about alleged environmental impacts generated by Ecopetrol or its contractors in the development of their industrial and commercial activities, the details of which can be consulted through the Citizen Participation Office.



Number of cases

Crops and vegetation


Effects on bodies of water


Chemical substance and waste management






Atmospheric emissions


Property damage




Source: Ecopetrol, Citizen Participation Office


Regarding the validity of these claims, 61% thereof consisted of valid cases; i.e. events for which the Company had to generate remedies:




Number of cases



Not valid






Source: Ecopetrol, Citizen Participation Office

Complaints about labor practices and discrimination

There were no claims regarding labor practices by Ecopetrol employees in 2020. 15 claims were received with respect to contractor employees, for which Ecopetrol transferred each complaint to the corresponding employer companies responsible for guaranteeing adequate working conditions for their workers.

Regarding this aspect, 3 complaints were received in 2020 in reference to “Presumed lack of transparency, discrimination in a selection process” and “Discrimination in employment and occupation”. No facts or circumstances were found in any of the corresponding cases to demonstrate that these people were indeed the object of discriminatory treatment by Ecopetrol or its allies. The details of such claims can be consulted through the Citizen Participation Office.

Claim validity

Number of cases

Not valid




Source: Ecopetrol, Citizen Participation Office

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