Our supply chain is the extended arms of an organization. Thus, we are aware of its relevance to reaching our goals. Organizations can create value and make well-being a top priority for all when we count on suppliers and allies committed to sustainability and focus on a higher purpose.

93% of our purchases are from local suppliers.

Therefore, in Grupo Bancolombia, we have defined different initiatives that allow the integration of responsible and sustainable practices:

We have a Sustainable Purchasing Policy as a critical tool for implementing and developing sustainability in the supply chain process. Thus, we are bound to act responsibly in procuring products and contracting services processes that respect the environment and are manufactured or produced under socially fair conditions.
Since 2009, we have incorporated ESG criteria in the annual evaluation of suppliers and partners. In 2021, 118 suppliers classified as critical underwent the sustainability evaluation, where 47% of our purchases are centralized.
Last year, more than 100 companies conducted a sustainability assessment to select suppliers. Sustainability was considered as part of the selection process.
We supported two suppliers in the development of their Strategic Sustainability Models.

Some of the data obtained from the program in 2021:

Assessed companies generate around 359,772 jobs.
46% of its employees identify as women. 32% hold leadership positions in their organizations.
37% of businesses are diversely owned or led by underrepresented groups such as women, the LGBT population, and racial or ethnic minorities.
37% monitor their greenhouse gases. 24 companies set emission reduction targets. 5 of them have achieved carbon neutrality.
26% address stakeholder and human rights complaints.
69% monitor their water consumption. 53 companies have set reduction targets.
65% have a code of ethics, and 66% monitor and report on their anti-corruption program.

2020

In year 2020

Linking our supply chain is key to achieving consistency and integration with our strategy. Since 2009, we have been working with our vendors and partners to learn about their impacts on environmental issues (water management, emissions, biodiversity, waste management, among others), governance, the actions they take with their employees and the contribution they make as organizations to society.

During the last five years, 326 of our vendors and allies have been evaluated through the Measure what's important (Mide Lo Importante) tool, a measurement platform in partnership with B Lab. This includes companies that have participated in our Request For Proposal (RFP) processes.

In 2020, 123 vendors and allies successfully completed their measurement, companies that manage 70% of total billing spending from our supply chain, of which 32% obtained a score higher than 80 points, a value defined by B Lab as certified to become a B company, which, although the Bank is not a requirement for the certification process, shows the level of progress in incorporating sustainability into the management carried out by companies. Of our vendors, three are certified as company B.

This tool allows our vendors and allies not only to know their results in terms of sustainability, but also to identify opportunities for improvement based on the information reference that the tool makes available to them. Additionally, it provides us with information to connect them with our Vendor Development Model. In 2021 we will implement actions to strengthen gender equality with this relationship group.

Some of the data obtained from the program in 2020:

The evaluated companies generate about 131,000 jobs, of which about 35% (45,850) are women.
61% of women employed by our vendors (about 28,000) hold leadership positions in their organizations.
25% address stakeholder and human rights claims.
50% keep track of their energy consumption and 31%% monitor their greenhouse gas emissions.
55% keep record of their water consumption.
68% have an ethics code and 62% monitor and report on their anti-corruption program.
During 2020 we carried out together with COMFAMA an exercise that allowed us to compare the principles of self-aware capitalism and B companies, to articulate it with our supply chain.

2019

In year 2019

In 2017 the average rating was 77.7 points, in 2018 79.3 points and in 2019 an average rating 65.5 points. Due to the decrease in scores, during this last year we have advanced with the creation of action plans as part of continuous improvement with our supply chain, for a total of 108 vendors with proposals for good practices.

Some of the data obtained from the program in 2019:

The companies evaluated generate a total of 139,910 jobs, of which around 38% are women.
55% have a code of conduct for their vendors.
68% do not manage or do not know their reduction of greenhouse gases for Scope 1 and 2.
55% have established goals for the environmental impact of their operations and 34% periodically evaluate their compliance.
75% have energy saving strategies in their facilities.
49% monitor and record their water consumption and 24% additionally check compliance with their goals.

2018

In year 2018

We continued to implement the methodology to measure the sustainability performance of our supply chain, with 82 of our suppliers evaluating their impact through the “Mide lo Importante” program, in partnership with “Sistema B”, B Lab partner in South America.
“Mide lo importante” is now three years old.
We have evaluated 177 suppliers.
106 companies have been evaluated three times: 70% have increased their performance score at their third evaluation.
In 2016 the average score was 66.3 points; in 2017 was 77.7 points and in 2018 we reached a mean score of 79.3 points.

2017

In 2017

That year, 89 of our suppliers joined the measurement:

141 suppliers were evaluated.
61 companies were evaluated twice, and 70% of them improved their performance compared to the second year of evaluation.
Compared to 2016, the average score increased by 11.4 points.