Circular Economy Pillar
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Circular Economy Pillar
Jan 1, 2024
Circular Economy Pillar
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The Circular Economy is consider a transversal element within Ecopetrol Group. It´s defined as a production and consumption system that promotes efficient and sustainable management of all resources throughout the value chain to mitigate risks and generate new opportunities for the company and the society. Circular Economy seeks to enable and contribute to the Group's strategic objectives through the effectiveness of processes, the recirculation of materials1 and new business models.
The implementation of the circular economy model allows: (i) to promote efficiency in the use of materials, water, energy and the resilience of ecosystems, (ii) to encourage the identification of initiatives for the development of new business models with economic, environmental and social benefits, and (iii) promote innovation, technology and research in new products and services.
1Materials: All natural resources and inputs used in the production processes and the output streams generated from the processes.
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