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Our ambition

Jun 28, 2024

The strategic pillar of biodiversity and ecosystem services

 

Ecopetrol recognizes the need to identify and manage dependencies and potential impacts on biodiversity and ecosystem services, as well as the importance of generating actions for their conservation, in line with United Nations Sustainable Development Goals (SDGs): 1, 6, 8, 12, 13, 15 and 17.

This strategic pillar has four axes:

  • i) Mitigation Hierarchy
  • ii) Nature Based Solutions (NbS)
  • iii) knowledge Generation
  • iv) Biodiversity culture.

Ecopetrol’s biodiversity strategy

Benefits of biodiversity management

 

Context about biodiversity and ecosistemic services

What is biodiversity?

Logo del IPBESIn the 21st century, one of the terms that has become more relevant in the scientific world is biodiversity. According to the IPBES - Intergovernmental Science -Policy Platform on Biodiversity and Ecosystem Services-, biodiversity refers to the variety of life forms at the genetic, ecosystem and even planetary level. From microorganisms and fungi to plants and animals, they are all relevant to the stability of ecosystems and the prosperity of all the communities surrounding each of them.

 

What are Ecosystem Services?

Biodiversity represents Earth’s vital support by enabling a large number of services for the human species, known as Ecosystem Services, which are relevant in the context of food security, the use of natural resources, the extraction of drinking water and many more. According to the guidelines of the Millennium Ecosystem Assessment, an international effort of the United Nations to identify the impact of human actions on nature, they are classified into four categories: provisioning services, such as water and natural gas; regulating services, such as pollination and carbon storage; cultural services and support services. The continuity and stability of these services is relevant for Ecopetrol within the framework of our Biodiversity strategy.

 

Colombian biodiversity in a global context

“Colombia is a privileged country for its natural richness, for its variety, geographical beauty and for the diversity of its ecosystems.” Ministry of Science, Technology and Innovation of Colombia, 2016.

At a global level, as ratified by the Convention on Biological Diversity (CBD), our country has a privileged position in terms of biodiversity as it is one of the few titled as megadiverse.

With more than 70,000 species registered in the Colombian Biodiversity Information System - SIB - and close to 49 million hectares protected according to the National Registry of Protected Areas - RUNAP-, equivalent to 42% of the national territory, Colombia ranks second worldwide in terms of plant, butterfly and amphibian biodiversity.

Most biodiverse countries in the globe

Most biodiverse countries in the world. Adapted from: https://cifras.biodiversidad.co/

 

Below, we present some of the most important figures regarding Colombian biodiversity, which were consolidated based on taxonomic reclassifications and reports from the Instituto Alexander Von Humboldt, a leading Colombian research facility.

Outstanding figures regarding Colombian biodiversity

Relevant figures in the context of biodiversity at the international level. Adapted from: https://cifras.biodiversidad.co/

 

Biodiversity in Colombia Fauna Vertebrates

Species of vertebrate animals registered through SIB Colombia. Reference source: https://cifras.biodiversidad.co/

 

Biodiversity in Colombia Fauna Invertebrates

Species of invertebrate animals registered through SIB Colombia. Reference source: https://cifras.biodiversidad.co/

 

Biodiversity in Colombia Flora

Species of flora animals registered through SIB Colombia. Reference source: https://cifras.biodiversidad.co/

 

 

Roadmap to 2030

The biodiversity and ecosystem services element was defined as a priority in the dual materiality analysis conducted in 2023, considering dependencies, impacts, risks and opportunities related to Nature. Operating in a megadiverse country, we want to stand out as a company with recognized best practices, applying the hierarchy of mitigation and conservation, Nature-Based Solutions and their correlation with water management and climate change. Meeting the expectations of stakeholders, legislation, national and international frameworks and articulation with the Sustainable Development Goals.

 

Our commitment implies:

  • Not to operate in protected areas according to categories I to IV of the International Union for Conservation of Nature (IUCN).
  • Not to carry out activities in World Heritage areas declared by the United Nations Educational, Scientific and Cultural Organization (UNESCO).
  • Systematically implement the mitigation hierarchy to manage risks in direct operation of the company.
  • Prevent the transformation of natural ecosystems in new projects and operations, to the extent technically and economically feasible. 
  • Advance towards Zero Net Deforestation in direct operations and supply chain.
  • Make positive biodiversity contributions through voluntary conservation or ecosystem restoration actions.

 

Our goals and achievements 2023

Currently, and thanks to the management efforts carried out in in 2023, Ecopetrol is at 270% and 177% compliance with its goals board in Biodiversity and Ecosystem Services by 2023 and 2030, respectively.

Milestones Goals Achievements
 
2023
Goal
2030
Goal
2023
Execution
2023
Accumulated
2023
Progress
Progress towards the 2030 goal
Delivery, support and/or planting of trees (cumulative number Business Group)
6.000.000
12.000.000
1.500.000
8.063.226
134%
67%
Ecoreserves designated on company-owned land (accumulated by Grupo Empresarial)
20
50
 5
20
100%
40%
Hectares conserved and/or under restoration by voluntary/compulsory actions (maintain/new) in the year
20.000
30.000
 169.427 202.806
1.019%
679%
Maintain 15 wild species conserved in 3 landscapes (Middle Magdalena Valley, Eastern Plains and Putumayo).
15
15
15
 15
100%
100%
Million tons of CO2/year through CNS projects (Capture or reduction).
0.3
2-4
-
-
0%
0%
 
 
 
 
Total
270%
177%

*The goals are currently being revised to update them.
 

Additionally, in 2023 we achieved:

 

  • In 2021 we joined as a member of the Nature-related Financial Disclosures (TNFD) Group to contribute to the development of a framework for reporting risks and opportunities associated with natural capital. We led the Energy Sector 6 group to support the construction of the Energy sector guide, the definition of metrics and indicators, among others.

  • In 2023, we conducted two pilots of the LEAP (Locate, Assess, Analyze, Prepare) methodology. The first pilot focused on the Yariguí Cantagallo field, while the second pilot was associated with the geographic core of the Middle Magdalena Valley with the socio-ecological resilience tool. 

 
  • Ecopetrol demonstrates its commitment to transparency and sustainable environmental management by joining the group of Early Adopters of this framework worldwide. Thus, the company will generate its first TNFD report with results for the year 2024. Learn more about the "Early Adopters" here: TNFD Early Adopters · TNFD.

 

  • Publication in the Colombian Biodiversity Information System (SIB): Ecopetrol is positioned as the company with the second highest number of records included and is among the four companies with the highest number of citations, with a total of 706,383 biological records, 325 citations and 122 datasets (information reviewed until April 2024). For more information: https://biodiversidad.co/empresas.

 

  • We participated in the last CoP15 of the Convention on Biological Diversity, where the new Kumming-Montreal Global Biodiversity Framework was approved. At this event we actively participated in side events organized by TNFD and Ipieca, in order to reaffirm our commitment to the conservation of the country's biodiversity in line with our 2040 strategy - Energy that Transforms.

 

  • The Business Statement was signed in which Ecopetrol supported the inclusion of target 15 in the new Kumming-Montreal Global Biodiversity Framework, approved at COP 15. This goal seeks to have all large companies and financial institutions assess and disclose their risks, impacts and dependencies on biodiversity by 2030. For more information, see: https://www.businessfornature.org/make-it-mandatory-campaign#MIM-signatory-list
  • In 2023, in conjunction with the Vice Presidency of Supply and Services, the Annex of Environmental Sustainability Guidelines for the Sourcing process associated with the themes of Decarbonization, Materials and Waste, Water Neutrality and Natural Capital (Biodiversity - DNC: Zero Net Deforestation) was designed and published.

 

  • Natural Climate Solutions: Six projects have been implemented with strategic allies such as The Nature Conservancy (TNC), Fondo Acción, ISA - Jaguar Connection, Fundación Natura, and Fundación Catarubén in different key ecosystems in the country, with a potential to capture more than 1MtC02/year. The accumulated potential of these projects, taking into account their useful life, is more than 15 million tCO2. For more information see Strategic Partners section.

Progress in the implementation of Natural Climate Solutions NCS

 

Ecopetrol Group goal of 12 million trees by 2030

At the end of 2023, the Ecopetrol Group has registered internally a total of 8'063.226 trees planted, delivered and quantified together with our partners.

  Origin Company Total number of trees
Ecopetrol S.A. 3.734.361

 Bicentenario

 34.557
ODL

84.391
Hocol S.A.

2.254.936
Ocensa

96.570
Cenit

1.715.050
Oleoducto de Colombia - ODC 13.445
Esenttia S.A. 14.884
Reficar 16.352
ISA

97.430
  Total

8.063.226
For more information see Nature-Based Solutions section.

 

 

 

 

 

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