Ecopetrol Sustainability Profile
Ecopetrol S.A., commonly referred to as Ecopetrol, is Colombia's largest petroleum company, headquartered in Bogotá. Founded in 1951, the company has established itself as a key player in the oil and gas industry, with significant operations across Colombia and in various international markets. Ecopetrol's core business areas include exploration, production, refining, and transportation of hydrocarbons, alongside the provision of petrochemical products. The company is renowned for its commitment to sustainable practices and innovation in energy solutions, positioning itself as a leader in the transition towards cleaner energy. With a strong market presence, Ecopetrol has achieved notable milestones, including becoming one of the largest companies in Latin America by revenue. Its dedication to operational excellence and environmental stewardship continues to drive its success in the competitive energy sector.
DitchCarbon Score
How does Ecopetrol'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 Petroleum Products 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
Ecopetrol's score of 43 is higher than 80% of the industry. This can give you a sense of how well the company is doing compared to its peers.
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Ecopetrol's reported carbon emissions
In 2023, Ecopetrol reported total carbon emissions of approximately 124,585,200,000 kg CO2e for Scope 1, 468,921,000 kg CO2e for Scope 2, and about 152,963,989,000 kg CO2e for Scope 3 emissions. This reflects a slight increase in Scope 1 emissions from 2022, which were approximately 123,387,590,000 kg CO2e, while Scope 2 emissions decreased from about 500,772,000 kg CO2e. Scope 3 emissions also rose from approximately 148,218,864,000 kg CO2e in 2022. Ecopetrol has not set specific reduction targets under the Science Based Targets initiative (SBTi) or other formal climate pledges. The company has not disclosed any significant reduction initiatives or commitments, indicating a potential area for improvement in their climate strategy. Overall, Ecopetrol's emissions data highlights the substantial carbon footprint associated with its operations, particularly in Scope 3 emissions, which encompass the majority of its total emissions. The company is headquartered in Colombia and continues to face challenges in aligning its operations with global climate goals.
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| 2009 | 2010 | 2011 | 2012 | 2013 | 2014 | 2015 | 2016 | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Scope 1 | 5,714,000,000 | 0,000,000,000 | 0,000,000,000 | 0,000,000,000 | 0,000,000,000 | 0,000,000,000 | 0,000,000,000 | 0,000,000,000 | 00,000,000,000 | 00,000,000,000 | 00,000,000,000 | 00,000,000,000 | 00,000,000,000 | 00,000,000,000 | 00,000,000,000 |
| Scope 2 | 167,000,000 | 000,000,000 | 000,000,000 | 000,000,000 | 000,000,000 | 000,000,000 | 000,000,000 | 000,000,000 | 000,000,000 | 000,000,000 | 000,000,000 | 000,000,000 | 000,000,000 | 000,000,000 | 000,000,000 |
| Scope 3 | - | - | - | - | - | - | - | - | - | - | 000,000,000,000 | 000,000,000,000 | 000,000,000,000 | 000,000,000,000 | 000,000,000,000 |
How Carbon Intensive is Ecopetrol's Industry?
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Ecopetrol's Climate Goals (2030 & 2050)
Climate goals typically focus on 2030 interim targets and 2050 net-zero commitments, aligned with global frameworks like the Paris Agreement and Science Based Targets initiative (SBTi) to ensure alignment with global climate goals.
Ecopetrol has established climate goals through participation in recognized frameworks and target-setting initiatives. Companies often set interim 2030 targets and long-term 2050 net-zero goals to demonstrate measurable progress toward decarbonization.
