Grupo Bancolombia
Sustainability
Given the new risks and opportunities for our business and clients, we understand the relevance of this issue today. Hence, our Climate Change Management Strategy includes guidelines provided by the CDP (Carbon Disclosure Project), through which we have identified and managed physical and transitional risks for our direct and loan operations.
Achievements
Read More Information about the Carbon Disclosure Projects from Previous Years?
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This is how we execute our strategy
In 2019, we updated our internal climate change policy. Our main objective: To identify and manage the risks and opportunities related to climate change to develop the necessary actions to align the business strategy with the goals established in the Paris agreement.
This policy covers our entire operation in the countries where we do business. This policy focuses on the economic sectors that are most vulnerable to climate change. Likewise, it focuses on sectors that generate a greater impact through greenhouse gas emissions in their activities development and on others that can derive greater opportunities through implementing mitigation and adaptation measures related to this phenomenon. See Climate Change Policy.
Our climate change management and performance consider 4 fundamental pillars per the TCFD (Task Force on Climate-related Financial Disclosures):
Governance
Strategy
Risk management
Metrics and Goals
Results of quantifying our financed emissions using the PCAF methodology (Partnership for Carbon Accounting Financials). See the results of our financed issues.
We have voluntarily adhered to various frameworks to stay current, apply best practices, and report on our management.
BanCO2
We understand the importance of protecting and conserving our country’s ecosystems. Therefore, BanCO2 is an initiative that transforms the lives of families committed to protecting ecosystems.
One of Colombia’s leading payments for environmental services (PES) schemes. This scheme benefits the environment, increases resilience and sustainability, and strengthens peace in the territories, improving the quality of life of those who live there. Additionally, it contributes to reducing social and armed conflict in the different territories and communities.
BanCO2

How is BanCO2 and Bancolombia linked? –Bancarización
Associated rural families have access to mechanisms suitable for payment through Bancolombia with the “Ahorro a la Mano” program, consisting of a savings account managed through any cell phone, with no handling fee to save up to COP 5,000,000. In addition, it offers various benefits, including life and hospitalization insurance. Payment through this product eliminates intermediation and financial costs.
Fiducia Bancolombia & BanCO2
Since its creation, BanCO2 has been considered a scheme with specific resources. Its sources come from mandatory and voluntary compensations from the public and private sectors. In the beginning, Masbosques, as BanCO2 operator, managed the resources through bank accounts. However, since the alliance between Bancolombia & BanCO2, a fiduciary scheme built through an Autonomous Patrimony was implemented, thus, collecting and executing the scheme’s resources. This new mechanism provides financial security and confidence for voluntary or mandatory resource contributors.

BanCO2 Results
See results
Learn more about our Sustainable Focus
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