Ecopetrol: First Latin O&G Co. to plan for Net Zero

Ecopetrol S.A. reports that it has published its plan to achieve net zero carbon emissions by 2050, in line with its commitment to mitigate climate change and further the energy transition and its "TESG" agenda. They become the first Oil & Gas Company in Latin America to make such an announcement.

By 2030, Ecopetrol seeks to reduce its CO2e emissions by 25% as compared to the 2019 baseline for Scopes 1 and 2, which correspond to direct and indirect emissions associated with the purchase of energy. In addition, Ecopetrol will seek to reduce 50% of its total emissions (scopes 1, 2 and 3) associated with the company’s value chain, which includes the use of its products, by 2050.

The development of the goals proposed are a part of the Ecopetrol Group’s Corporate Strategy and energy transition roadmap. Progress on these goals is expected to be reported periodically in line with company’s earnings results.

The decarbonization plan and the proposed net zero emissions roadmap can be found at the following link:

Courtesy of Ecopetrol.

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