Ecopetrol

InfluenceMap Score
D+
Performance Band
53%
Organisation Score
51%
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. 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 oil and gas in the energy mix.

Top-line Messaging on Climate Policy: Ecopetrol appears to have a broadly positive top-line position regarding climate policy. On social media inIn a tweet from March 2022, Ecopetrol appeared to support a net-zero goal by 2050. Ecopetrol also supported Colombian government’s pledge for carbon neutrality by 2050 on social media inin a tweet from November 2021. The company also appears to support the Paris Agreement, as revealed in its 2021 Integrated Sustainability Management Report, released in March 2022. The company has also stated support for government regulation of climate. For instance, in its 2021 CDP Climate Change Information Request 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 does not appear to be transparent on its engagement with climate-related regulations on its corporate website, although it states that the company participates in public policy. In its 2021 disclosure to CDP, the company expressed support for several 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 March 2021 press release, Ecopetrol also appeared to support the GHG reduction target of 51% by 2030 in Colombia.

Positioning on Energy Transition: Ecopetrol supports a continued role for oil and gas in the future energy mix. For instance, on the company website, accessed in August 2022, Ecopetrol stated that fossil gas is “fundamental” to energy transition. Ecopetrol’s President, Felipe Bayón, has consistently supported the need for oil and gas. In July 2022, while announcing the discovery of oil in the Caribbean, Bayón, appeared to support fossil gas use in Colombia. Earlier in March 2022, Bayón stated opposition to limitations on oil exploration, citing that the move would affect Colombian economy, as reported by el Colombiano. Bayón also stated support for fracking, citing the importance of energy self-sufficiency, as reported by Caracoal Radio in December 2021.

There is some evidence to suggest that Ecopetrol supports clean hydrogen production, as stated in a report by Argus Media in October 2021 where Bayón appeared to support producing blue hydrogen until large-scale production of green hydrogen becomes competitive.

Industry Association Governance: Ecopetrol discloses its membership to some industry associations on a page on its website titled ‘Voluntary Memberships’. However, it provides no details of each organization's climate change policy positions and whether Ecopetrol is aligned with these industry associations on climate policies. Further, this webpage appears to have not been updated since June 2020. Ecopetrol did not respond to the question regarding membership and alignment with industry associations in its 2021 CDP Climate Change disclosure. InfluenceMap has found that Ecopetrol holds memberships with Instituto Brasileiro de Petróleo e Gás (IBP) and Asociación Mexicana de Empresas de Hidrocarburos (AMEXHI).

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.

InfluenceMap collects and assesses evidence of corporate climate policy engagement on a weekly basis, depending on the availability of information from each specific data source (for more information, see our methodology). While this analysis flows through to the company’s scores each week, the summary above is updated periodically. This summary was last updated in Q3 2022.

QUERIES
DATA SOURCES
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Strength of Relationship
STRONG
 
 
 
 
 
 
 
WEAK
 
53%
 
53%
 
48%
 
48%

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.