In 2024, Bancolombia completed a corporate carbon footprint assessment and publicly disclosed its greenhouse gas (GHG) emissions according to the GHG Protocol, covering Scope 1 (direct emissions from owned or controlled sources), Scope 2 (indirect emissions from purchased energy) and Scope 3 (indirect emissions across the value chain).
However, Bancolombia has not published a category-level breakdown of its Scope 3 emissions, limiting visibility into specific value chain sources.
| Metric (tCO2e) | 2024 | 2023 | 2022 | 2021-2019 |
|---|---|---|---|---|
Total Scope 1 | 671.5a | 546.74a | 526.1a | |
Total Scope 2 | ||||
Market-Based | 4,135.66a | 3,072.74a | 5,283a | |
Location-Based | 13,200.82a | 14,720.66a | 20,847.68a | |
Total Scope 3 | 1,545.37a | 1,687.71a | 1,638.55a | |
Total Scope 1 Revenue Intensity (tCO2e/$M) | 0.132a | 0.1006a | N/A |
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In 2024, the total operational greenhouse gas (GHG) emissions of Bancolombia amounted to 13,872.32 metric tons of CO2 equivalent. This figure includes both direct emissions from owned or controlled sources (Scope 1) and indirect emissions from purchased energy (Scope 2).a
Compared to 2023, the total operational greenhouse gas (GHG) emissions of Bancolombia decreased by 9.14%, showing that the company has made progress in taking action to reduce the climate impact of its operations.a
In 2024, the total Scope 1 emissions of Bancolombia were 671.5 metric tons of CO₂ equivalent (tCO₂e).a
Since 2019, Bancolombia's Scope 1 emissions have decreased by 1.63%, reflecting a declining long-term trend in Scope 1 emissions over time.a
Compared to the previous year (2023), Bancolombia's Scope 1 emissions increased by 22.82%, suggesting that the company faced challenges in reducing emissions from its directly owned or controlled operations.a
In 2024, Bancolombia reported Scope 2 greenhouse gas (GHG) emissions of 4,135.66 tCO₂e using the market-based method and 13,200.82 tCO₂e using the location-based method.a
Since 2019, Bancolombia's Scope 2 greenhouse gas (GHG) emissions (Location-Based) have decreased by 41.89%, reflecting a declining long-term trend in Scope 2 emissions over time.a
Compared to the previous year (2023), Bancolombia's Scope 2 emissions (Location-Based) fell by 10.32% in 2024, showing that the company has made progress in taking action to reduce the climate impact of its energy consumption.a
In 2024, Bancolombia reported its Scope 2 emissions using the market-based method and using the location-based method.a
In 2024, Bancolombia reported 1,545.37 metric tons of CO₂ equivalent (tCO₂e) of Scope 3 greenhouse gas (GHG) emissions, representing indirect emissions across its upstream and downstream value chain.a
The 2024 disclosure of Bancolombia includes a breakdown across 0 of the 15 Scope 3 categories defined by the GHG Protocol, matching the level of disclosure in 2023, demonstrating consistent Scope 3 emissions reporting coverage year over year.a
In 2024, Bancolombia reported total Scope 3 emissions of 1,545.37 metric tons of CO₂ equivalent (tCO₂e).a
Since 2019, Bancolombia's Scope 3 emissions have decreased by 50.75%, reflecting a declining long-term trend in Scope 3 emissions over time.a
Compared to the previous year (2023), Bancolombia's Scope 3 emissions remained relatively stable, indicating that Bancolombia's emissions have plateaued with no significant change in its value chain footprint.a
In 2024, Bancolombia reported Scope 1 greenhouse gas (GHG) emissions of 671.5 tCO₂e and total revenues of USD 5,087 millions. This translates into an emissions intensity of 0.13 tCO₂e per millions USD.a
In 2024, Bancolombia reported a Scope 1 emissions intensity of 0.13 tCO₂e per millions USD. Compared to the peer group median of 0.54, this places the company below its industry benchmark, indicating it is more carbon-efficient than most competitors.a
In 2024, Bancolombia ranked 6 out of 23 companies in its industry peer group, based on Scope 1 emissions intensity (measured in tCO₂e per millions USD).a
Bancolombia is therefore positioned in the mid-range of its industry, neither a clear leader nor a laggard in carbon efficiency.a
In 2024, Bancolombia reported a total carbon footprint of 15,417.69 metric tons of CO₂ equivalent (tCO₂e) across Scope 1, Scope 2, and Scope 3 emissions. This represents a 9.07% decrease compared to 2023, indicating progress in reducing its overall greenhouse gas output.a
The largest contributor to Bancolombia's total carbon footprint was Scope 2 emissions, accounting for 85.62% of the company's total carbon footprint, followed by Scope 3 emissions at 10.02%.a