Circular Economy Model
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Circular Economy Model
Feb 8, 2023
The Circular Economy Model adopted by Ecopetrol Group
Ecopetrol’s group wants to impulse a sustainable production and consumption processes and also responsible, which it’s linked directly to the sustainable development goals (particularly SDG 12) accomplishing the natural systems regeneration, products and materials preservation depending if they are in use or circulation, therefore, it is possible to minimize the natural resource use (renewable or not), wastes and CO2 emissions generation which reduce the negative social and environmental impacts.
We interpret the Circular Economy as our goals enabler in terms of energetic transition, zero net carbon emissions, water print reduction, and the end of wastes or residues cycles. Although, Circular Economy give us growth opportunities in terms of innovation and employment generation.
The Circular Economy model components that allow a constant development and implemented advance of initiatives through selected actions involved in the sustainable strategy roadmap for Ecopetrol’s group are:
Culture:
Changing management habits through effective and assertive communications between every part involved in the process, as mechanisms that strengthened technical skills in order to know the Circular Economy concept.
Resources, emissions, and wastes efficiency:
In this perspective, we are working on initiatives that increment natural resources and materials ecoefficiency, waste generation reduction, increment wastes reuse, encourage industrial symbiosis in processes or inner operations in the supply chain, and create new business models.
Territory management to circularity:
Contribute to the protection of natural and social zones influenced by Ecopetrol’s operations through circular projects implementation which are characterized by positive social and environmental impacts in the territory where Ecopetrol is present.
Products, processes, and services redesign:
With this component, Ecopetrol wants to improve quality products with secondary products or wastes addition. Also, Ecopetrol wants to implement better practices focused on solid waste generation or disposal, water and energy savings during maintenance, cleaning or feed services and the implementation of circular criteria during the actualization of operative and financial procedures.
Circularity level:
With this component Ecopetrol looks for qualitative or quantitative circular measurements levels according with national or international standards.
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