Ecopetrol announces commitment and plan to achieve net zero carbon emissions by 2050

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. Progress on these goals is expected to be reported periodically in line with Company's earnings results.

Colombia’s Celsia to invest $947 million in projects, including solar energy

Power company Celsia will invest $947 million (Co$3.4 billion) this year as it focuses on expanding its solar energy capacity and gas generation, among other projects, company directors said on Wednesday. Celsia plans to increase its current solar energy production to 650 megawatts by the end of the year, 20 times higher than its current capacity.

Grupo familia operating income grew by 5.3% last year

Colombian pulp and paper goods manufacturer, Grupo Familia, published its 2020 annual report. The company's operating income increased by 5.3% to $765 million (Co$ 2.8 billion) compared to 2019. 50% of sales were to international clients across 12 countries. For its social responsibility activities in Colombia, the company reported the delivery of 16 million units of its products to people affected by the covid-19 pandemic and the rainy season last year.

Colombia to seek more than $7 bn via proposed tax reform

Colombia will seek to raise $7.15 billion (Co$ 25.4 billion) in a proposed tax reform to be sent to congress in the coming days, more than previously stated, according to sources and documents seen by Reuters on Tuesday. Of the money raised by the reform, some $4.7 billion (Co$ 16 billion) will go toward spending needs, while $2 billion (Co$7.6 billion) will fund welfare payments. Other funding will be directed at economic reactivation efforts.