Grupo Aval

Grupo Aval, a US-headquartered financial intermediation services provider, reported total carbon emissions of approximately 8.45 million kg CO2e in 2024. This included about 4,320 kg CO2e from Scope 1 emissions, 36,150 kg CO2e from Scope 2 emissions, and approximately 8.41 million kg CO2e from Scope 3 emissions. Notably, a significant portion of their Scope 3 emissions, about 7.84 million kg CO2e, was attributed to investments. Other Scope 3 categories included purchased goods and services (approximately 470,040 kg CO2e), employee commute (approximately 78,020 kg CO2e), business travel (5,280 kg CO2e), capital goods (3,880 kg CO2e), and waste generated in operations (5,430 kg CO2e).

In 2023, Grupo Aval reported Scope 1 emissions of approximately 227.67 million kg CO2e and Scope 2 emissions of approximately 20.33 million kg CO2e. For 2022, their total emissions were about 27,610 kg CO2e, with Scope 1 at 2,840 kg CO2e, Scope 2 at 18,060 kg CO2e, and Scope 3 at 6,710 kg CO2e.

Grupo Aval has set ambitious climate commitments, aiming for carbon neutrality by 2050. They are working towards a 51% reduction in emissions by 2030, with 2023 as the base year for this target. The company has demonstrated progress in emissions reduction; in 2023, there was a reported 49.7% reduction in their Scope 1 and Scope 2 carbon footprint compared to their 2019 base year. This follows a 56% reduction in both Scope 1 and Scope 2 emissions by 2022 from the 2019 base year, partly due to operational changes resulting from the pandemic. Furthermore, Fiduciaria de Occidente, a part of Grupo Aval, achieved carbon neutral certification by ICONTEC for its Scope 1 and Scope 2 emissions in 2023.