Ecopetrol SA

Ecopetrol SA demonstrates a moderate level of governance in its lobbying activities, particularly in relation to climate change. The company ensures alignment of its climate-related policy efforts with its 2040 Corporate Strategy and environmental strategy, which includes a Climate Change Pillar with an action line for "participation in public policy documents," establishing revision and compliance mechanisms for climate-related legislation and policy. Additionally, the strategic risk "Inadequate management of climate change and water" includes a Key Risk Indicator (KRI) to monitor and analyze legislative projects affecting climate and water issues, which serves as a mechanism to align policy actions with the company's overall strategy. Oversight of climate-related risks and opportunities is provided by the Board of Directors, which defines and oversees the Corporate Strategy, including TESG drivers and climate change. Various committees, such as the Audit and Risk Committee, Corporate Governance and Sustainability Committee, and HSE Committee, address climate-related issues, including methane reduction targets and water neutrality roadmaps. However, while these structures indicate a process for monitoring and aligning climate-related activities, there is no explicit evidence of a detailed governance framework for lobbying alignment, nor is there a public commitment to conduct engagement activities in line with the Paris Agreement goals. The company does not disclose specific mechanisms for managing indirect lobbying through trade associations or industry bodies, nor does it provide evidence of a recurring audit or review process for lobbying alignment.