A. M. 
“Sustainability is not a task, it is our strategy, since it is not only a manifest commitment, but the way in which we see the world and how we approach activities to achieve that great purpose: to generate well-being for all”, said Juan Carlos Mora, president of Grupo Bancolombia, in an international press conference with journalists from the countries where the group operates: Colombia, Panama, Guatemala and El Salvador, in which he shared Grupo Bancolombia’s vision on Sustainability and ESG (Environmental, Social and Governance) Criteria.
Sustainability is the ability to generate economic growth and present social welfare, without compromising natural resources for future generations.
This vision, for nearly 150 years, has allowed the Group to consolidate a business that goes beyond the management of savings, investments and loans, to a solid financial ecosystem that drives the economy, people’s dreams, the development of communities and the generation of opportunities for more than 30 million clients in the different countries in which it operates.
“Companies are sustainable when they understand that sustainability means reducing costs, mitigating risks and generating income, and that this results in a better reputation and greater awareness of the impact generated”, said Mora.
ESG criteria are seen as specific tactics that allow companies to make tangible and quantify their vision of sustainability.
In the environmental area: in the reduction and compensation of greenhouse gas emissions, rational use of water, responsible supply of resources, non-use of pollutants that affect the air, among others.
In the social area: respect for universal rights, promotion of dignified and safe work, implementation of practices and a culture of diversity and inclusion, development of products and services that improve customer welfare, among others.
From the governance approach: respect for good governance standards and practices, responsible and ethical decision making, fair tax payment and practices, publication of clear and accessible reports, among others.
“In El Salvador, Bancoagrícola, as part of Grupo Bancolombia, has materialized its vision of sustainability by articulating all its actions on three major fronts that enable it to generate well-being for all”, said Rafael Barraza, chairman of the board of Bancoagrícola.
In the first half of 2024, Bancoagrícola has disbursed a cumulative US$844.5 million, of which 33% went to promote financial inclusion; 54% to strengthen the productive fabric, and 13% to promote the construction of sustainable cities and communities.
In addition, with 10 projects financed between january and august 2024 in the categories of renewable energy, sustainable construction, and water efficiency, the bank has contributed to the reduction of 104,098.73 tCo2e/year.
In the area of financial inclusion, throughout 2024 the organization has promoted the participation of 79 women business owners in the “Active Women” workshop, an initiative aligned with Bancoagrícola’s Diversity, Equity and Inclusion policy, aimed at strengthening the gender ecosystem, empowerment, female leadership and the proper financial management of companies.
In addition, in february of this year, Bancoagrícola also opened the Sea Account with the objective of contributing to the preservation of the mangroves of the Jaltepeque Estuary in the department of La Paz. In terms of contribution to the conservation of this type of environment, in 2024 they have disbursed US$89 thousand. This will enable the development of integrated projects with more than 850 people living in the area and direct beneficiaries, including 422 women and 430 men.
Since the Climate Commitment, in the first half of 2024, the organization allocated US$56.95 million in financing for the development of renewable energy, sustainable construction, water efficiency and circular economy projects.
