Grupo Bancolombia
Sustainability
In Bancolombia, we support our clients in successfully developing their projects, which seek to generate a lower impact on the environment and communities. Thus, we have created a Sustainable Business Strategy to implement and develop projects to make businesses increasingly sustainable.
Our strategy includes technical support to identify and implement opportunities, recognizing the tax benefits associated with environmental investments, and an extensive portfolio of sustainable credit lines for project financing.
Characteristics of a Sustainable Business
- It identifies its activity's direct and indirect impacts on the environment.
- It promotes the prevention, mitigation, correction, and compensation of its impacts.
- It develops corporate eco-efficiency strategies to reduce water, energy, paper, and travel consumption.
- It includes a climate change policy and identifies environmental risks and opportunities for its businesses, clients, suppliers, and the sustainable development of its communities.
- It has a sustainable business model that contributes with clear criteria for purchases and responsible consumption, favoring products and services that generate environmental benefits.
- It conducts self-assessments and evaluates its suppliers to formulate action plans that ensure compliance with Human Rights throughout the production chain in aspects such as collaborator safety and health, gender equity, appropriate working conditions, zero tolerance to discrimination and child labor, collaborator well-being, etc.
- It contributes to overcoming the needs of the communities where it operates through its business activities and social and corporate volunteering programs.
- It facilitates access to its products and services to the most remote populations.
- It provides opportunities for people with physical disabilities, people who represent racial or ethnic minorities, or those with sexual preferences or religious convictions different from those of the majority to enter the workforce.
- It seeks to identify stakeholders’ expectations and demands, establishing a dialogue and co-creating with them.
- It ensures that good results are obtained ethically, generating and distributing value for shareholders, collaborators, suppliers, and clients.
- It performs effective risk and crisis management based on planning and internal control practices to foresee risks and define improvement opportunities for the company and stakeholders.
- It has a relationship strategy with its clients, including tools such as CRM to listen to and address their needs to increase retention, satisfaction, and loyalty.
- It has a tax strategy in the countries where it operates to responsibly address its role as a taxpayer, contributing to communities’ development.
It is the one that redefines the success of its business and emphasizes its financial results and the social and environmental impact it generates in society.
Sustainable Businesses Include B Corporations
What is a B Company?
It is the one that redefines the success of its business and emphasizes its financial results and the social and environmental impact it generates in society.
Why Becoming a B Company?
In Bancolombia, we believe in companies that positively impact society and the environment; thus, we are committed to inviting our stakeholders (clients and suppliers) to identify their social and environmental impacts, measure their performance, and find alternatives to continue contributing to a more sustainable world.
Through the impact assessment of Companies B, we annually accompany strategic allies, suppliers, and clients to determine their performance in the different dimensions of sustainability: economic, social, and environmental, to discover how they are compared to other companies in the world and to build a strategic plan to improve their performance with different tools.
Why Becoming a B Company?
Notice!
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Sistema B shall govern the terms and conditions thereof.
