Bancolombia
Bancolombia S.A., a leading financial institution headquartered in Medellín, Colombia, has established itself as a key player in the Latin American banking sector since its founding in 1945. With a strong presence across Colombia and significant operations in Central America, Bancolombia offers a diverse range of financial services, including retail banking, corporate banking, and investment solutions. The bank is renowned for its innovative digital banking platforms, which enhance customer experience and accessibility. Notable achievements include its recognition as one of the largest banks in Colombia by assets and its commitment to sustainable finance initiatives. Bancolombia's focus on customer-centric solutions and robust financial products positions it as a trusted partner in the region's economic development.
DitchCarbon Score
How does Bancolombia's carbon action stack up? DitchCarbon scores companies based on their carbon action and commitment to reducing emissions. Read about our methodology to learn more.
Industry Average
Mean score of companies in the Financial Intermediation industry. Comparing a company's score to the industry average can give you a sense of how well the company is doing compared to its peers.
Industry Benchmark
Bancolombia's score of 38 is higher than 89% of the industry. This can give you a sense of how well the company is doing compared to its peers.
Bancolombia's reported carbon emissions
In 2023, Bancolombia reported total carbon emissions of approximately 5,307,000 kg CO2e. This figure includes 546,700 kg CO2e from Scope 1 emissions and 3,073,000 kg CO2e from Scope 2 emissions, with an additional 1,688,000 kg CO2e attributed to Scope 3 emissions. Over the years, the bank has demonstrated a commitment to reducing its carbon footprint, achieving a significant decrease from 9,072,000 kg CO2e in 2021 to the current level. Bancolombia is a member of the Business Ambition for 1.5°C initiative and has set near-term targets aimed at aligning its operations with climate science. The bank's portfolio targets cover approximately 23% of its total investment and lending activities, with a focus on required activities that constitute 32% of its total balance sheet assets as of 2021. These targets are designed to ensure that emissions from company operations (Scopes 1 and 2) are consistent with the reductions necessary to limit global warming to 1.5°C. Bancolombia's ongoing efforts reflect its commitment to sustainability and climate action within the financial sector, positioning itself as a responsible institution in Colombia and the broader Latin American region.
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| 2010 | 2016 | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | |
|---|---|---|---|---|---|---|---|---|---|
| Scope 1 | 650,000 | 000,000 | 000,000 | 000,000 | 000,000 | 000,000 | 000,000 | 000,000 | 000,000 |
| Scope 2 | 27,559,000 | 00,000,000 | 00,000,000 | 00,000,000 | 00,000,000 | 0,000,000 | 0,000,000 | 0,000,000 | 0,000,000 |
| Scope 3 | - | - | - | - | 0,000,000 | 0,000,000 | 000,000 | 0,000,000 | 0,000,000 |
Industry emissions intensity
Location emissions intensity
Reduction initiatives & disclosure networks
Companies disclose and commit to reducing emissions to show they are serious about reducing emissions impact over time. They can also help a company track its progress over time.
Bancolombia is committed to some reduction initiatives we track. This may change over time as the company engages with new initiatives or updates its commitments. DitchCarbon will update this information as it becomes available.
