Ecopetrol

InfluenceMap Score
D+
Performance Band
54%
Organisation Score
n/a
Relationship Score
Sector:
Energy
Head​quarters:
Bogota, Colombia
Official Web Site:
Wikipedia:

Climate Lobbying Overview: Ecopetrol appears to show limited engagement with climate change policy, which may result from its status as a state-owned company that has legal restrictions on formal lobbying activities. However, it has shown some top-line support for action to respond to climate change, and there is some evidence of support for specific policy measures such as emissions trading and GHG emissions regulation. Despite this, Ecopetrol continues to promote a role for fossil fuels in the energy mix, especially fossil gas.

Top-line Messaging on Climate Policy: Ecopetrol appears to have a broadly positive top-line position regarding climate policy. In its 2020 Integrated Sustainable Management Report, published in 2021, Ecopetrol appeared to recognize the scientific consensus on climate change and expressed support for the need to reduce GHG emissions in order to limit global temperature increase to 1.5°C. In a March 2021 press release published on its corporate website, Ecopetrol appeared to support the Paris Agreement. In a November 2021 tweet, the company stated support for the Colombian government's pledge to reach carbon neutrality by 2050. Additionally, in its 2021 CDP submission it stated support for the Colombian government’s Integral Climate Change Plan of the Mines and Energy sector’ to decarbonize the sector.

Engagement with Climate-Related Regulations: Ecopetrol appears to have limited transparency on its engagement with climate-related regulations. In its 2021 disclosure to CDP, the company expressed support for some specific measures to respond to climate change in Colombia, including support for the National Program of Tradable Quotas, a proposed emissions trading program, regulation of methane emissions, and regulation on GHG emissions in the mines and energy sector. In a March2021 press release, Ecopetrol also appeared to support the GHG reduction target of 51% by 2030 in Colombia.

Positioning on Energy Transition: While Ecopetrol appears to support the energy transition in its top-line messaging on the issue, evidence suggests it still supports a role for fossil fuels in the future energy mix. In a March 2021 press release, Ecopetrol's CEO, Felipe Bayón Pardo, stated support for an ‘orderly and ambitious energy transition’. However, it was reported in the Financial Times in March 2021 that Bayón stated “the world will need petrol, diesel and jet fuel for at least another 20 years.” Also, as reported by Motor in December 2021, Bayón supported oil and gas as essential for Columbians. Bayón also stated support for fracking, citing the importance of energy self-sufficiency, as reported by Caracoal Radio in December 2021. Additionally, he supported natural gas as “an energy source that is environmentally friendly,” as reported by Semana in November 2021. He also suggested producing blue hydrogen until large-scale production of green hydrogen is competitive, as reported by Argus Media in October 2021.

Industry Association Governance: Ecopetrol discloses its membership to some industry associations on a page on its website called ‘Voluntary Memberships’. However, no details of each organization's climate change policy positions are given and there are no details on whether Ecopetrol is aligned with these industry associations on climate policies. Ecopetrol did not respond to the question regarding membership of, and alignment with, industry associations in its 2021 CDP Climate Change disclosure. Ecopetrol does not have any memberships to industry associations currently in IM’s database.

Additional Note: Ecopetrol is headquartered in Colombia, where InfluenceMap’s LobbyMap platform can currently only make a provisional assessment of corporate climate policy engagement, due to limited capability to access publicly available data on this issue. As it is possible that InfluenceMap is not yet able to fully capture evidence of Ecopetrol's climate policy engagement activities, these scores should be considered provisional at this time.

In addition, Ecopetrol is a listed company with more than 50% of its shares owned by the government of Colombia. State-owned enterprises likely retain channels of direct and private engagement with government officials that InfluenceMap is unable to assess, and therefore are not represented in Ecopetrol's engagement intensity metric.

QUERIES
DATA SOURCES
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Strength of Relationship
STRONG
 
 
 
 
 
 
 
WEAK

How to Read our Relationship Score Map

In this section, we depict graphically the relationships the corporation has with trade associations, federations, advocacy groups and other third parties who may be acting on their behalf to influence climate change policy. Each of the columns above represents one relationship the corporation appears to have with such a third party. In these columns, the top, dark section represents the strength of the relationship the corporation has with the influencer. For example if a corporation's senior executive also held a key role in the trade association, we would deem this to be a strong relationship and it would be on the far left of the chart above, with the weaker ones to the right. Click on these grey shaded upper sections for details of these relationships. The middle section contains a link to the organization score details of the influencer concerned, so you can see the details of its climate change policy influence. Click on the middle sections for for details of the trade associations. The lower section contains the organization score of that influencer, the lower the more negatively it is influencing climate policy.