BOGOTÁ, Colombia, Oct. 10, 2023 /PRNewswire/ -- Ecopetrol S.A. (BVC: ECOPETROL; NYSE: EC) reports that it has published its third TCFD report as of December 31, 2022, which highlights progress in strengthening climate-related risk and opportunity management processes through discussions on Governance, Strategy, Risks and Metrics and Targets.
The disclosure of this third report is in line with international best practices, in which the recommendations issued by the Financial Stability Board's Task Force on Climate-Related Financial Disclosures (TCFD) are adopted as part of its disclosure policies.
The full report can be viewed at the following link: https://www.ecopetrol.com.co/wps/portal/Home/en/investors/sustainability-reports/sustainability-reports
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Ecopetrol is the largest company in Colombia and one of the main integrated energy companies in the American continent, with more than 18,000 employees. In Colombia, it is responsible for more than 60% of the hydrocarbon production of most transportation, logistics, and hydrocarbon refining systems, and it holds leading positions in the petrochemicals and gas distribution segments. With the acquisition of 51.4% of ISA's shares, the company participates in energy transmission, the management of real-time systems (XM), and the Barranquilla - Cartagena coastal highway concession. At the international level, Ecopetrol has a stake in strategic basins in the American continent, with Drilling and Exploration operations in the United States (Permian basin and the Gulf of Mexico), Brazil, and Mexico, and, through ISA and its subsidiaries, Ecopetrol holds leading positions in the power transmission business in Brazil, Chile, Peru, and Bolivia, road concessions in Chile, and the telecommunications sector. This press release contains business prospect statements, operating and financial result estimates, and statements related to Ecopetrol's growth prospects. These are all projections and, as such, they are based solely on the expectations of the managers regarding the future of the company and their continued access to capital to finance the company's business plan. The realization of said estimates in the future depends on the behavior of market conditions, regulations, competition, and the performance of the Colombian economy and the industry, among other factors, and are consequently subject to change without prior notice.
This release contains statements that may be considered forward-looking statements within the meaning of Section 27A of the U.S. Securities Act of 1933, as amended, and Section 21E of the U.S. Securities Exchange Act of 1934, as amended. All forward-looking statements, whether made in this release or in future filings or press releases, or orally, address matters that involve risks and uncertainties, including in respect of the Company's prospects for growth and its ongoing access to capital to fund the Company's business plan, among others. Consequently, changes in the following factors, among others, could cause actual results to differ materially from those included in the forward-looking statements: market prices of oil & gas, our exploration, and production activities, market conditions, applicable regulations, the exchange rate, the Company's competitiveness and the performance of Colombia's economy and industry, to mention a few. We do not intend and do not assume any obligation to update these forward-looking statements.
For more information, please contact:
Head of Capital Markets
Daniel Hurtado Mendoza
Email: investors@ecopetrol.com.co
Head of Corporate Communications
Marcela Ulloa
Email: marcela.ulloa@ecopetrol.com.co
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SOURCE Ecopetrol S.A.
FAQ
What is the TCFD report?
The TCFD report is a report that focuses on climate-related risk and opportunity management processes.
What does the report highlight?
The report highlights the progress made by Ecopetrol in strengthening climate-related risk and opportunity management processes.
What are the recommendations followed in the report?
The report follows the recommendations issued by the Financial Stability Board's Task Force on Climate-Related Financial Disclosures (TCFD).
Where can I view the full report?
The full report can be viewed at the following link: [link]
What is Ecopetrol's role in Colombia?
Ecopetrol is the largest company in Colombia and is responsible for over 60% of the hydrocarbon production in the country.
What is Ecopetrol's international presence?
Ecopetrol has operations in strategic basins in the United States, Brazil, and Mexico, as well as holdings in power transmission and road concessions in Brazil, Chile, Peru, and Bolivia.
Are there any financial projections in the report?
Yes, the report contains business prospect statements, operating and financial result estimates, and statements related to Ecopetrol's growth prospects.
What factors could affect the realization of these estimates?
Factors such as market conditions, regulations, competition, and the performance of the Colombian economy and the industry could impact the realization of the estimates.
Is Ecopetrol obligated to update the forward-looking statements?
No, Ecopetrol does not assume any obligation to update the forward-looking statements.
Who can I contact for more information?
For more information, please contact Daniel Hurtado Mendoza, Head of Capital Markets, or Marcela Ulloa, Head of Corporate Communications.
