Bancolombia SA

Common Name

Bancolombia

Country

Colombia

Sector

Financial Services

Industry

Banks - Regional

Employees

N/A

Ticker

CIBEST

Exchange

BOLSA DE VALORES DE COLOMBIA

Website

www.grupobancolombia.com

Bancolombia's GHG Emissions Data Preview

In 2023, 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)	2023	2022	2021	2020 - 2017
Total Scope 1 Total direct GHG emissions from categories that are owned or directly controlled by the company.	Copy restricted. Please purchase to unlock this data. ^a	Copy restricted. Please purchase to unlock this data. ^a	Copy restricted. Please purchase to unlock this data. ^a	Data available for purchase 0000000
Total Scope 2 Indirect GHG emissions from the generation of purchased electricity, steam, heating, and cooling consumed by the reporting company.
Market-Based Indirect emissions from purchased energy calculated using the market-based method, which reflects contractual instruments such as supplier-specific emission factors or renewable energy certificates (RECs).	Copy restricted. Please purchase to unlock this data. ^a	Copy restricted. Please purchase to unlock this data. ^a	Copy restricted. Please purchase to unlock this data. ^a	Data available for purchase 0000000
Location-Based Indirect emissions from purchased energy calculated using the location-based method, which reflects average emission factors of the local grid.	Copy restricted. Please purchase to unlock this data. ^a	Copy restricted. Please purchase to unlock this data. ^a	Copy restricted. Please purchase to unlock this data. ^a	Data available for purchase 0000000
Total Scope 3 All other indirect GHG emissions that occur in the company’s value chain, outside of Scope 1 and 2. This includes both upstream and downstream activities.	Copy restricted. Please purchase to unlock this data. ^a	Copy restricted. Please purchase to unlock this data. ^a	Copy restricted. Please purchase to unlock this data. ^a	Data available for purchase 0000000
Categories of Scope 3 (1 category)
Investments (Cat. 15) Emissions from equity or debt investments, including project finance and portfolio holdings.	Copy restricted. Please purchase to unlock this data.	Copy restricted. Please purchase to unlock this data. ^a	Copy restricted. Please purchase to unlock this data.	Data available for purchase 0000000

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Verified Sources Behind Bancolombia’s Greenhouse Gas (GHG) Emissions Data

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a. Bancolombia's Management report 2023

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Insights into Bancolombia's Operational Emissions

In 2023, the total operational greenhouse gas (GHG) emissions of Bancolombia amounted to 15,267.7 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 2022, the total operational greenhouse gas (GHG) emissions of Bancolombia decreased by 28.57%, showing that the company has made progress in taking action to reduce the climate impact of its operations. ^a

Bancolombia's Scope 1 Emissions Over Time

Total Scope 1
Year-over-Year Change

What are Bancolombia's Scope 1 emissions?

In 2023, the total Scope 1 emissions of Bancolombia were 546.7 metric tons of CO₂ equivalent (tCO₂e). ^a

Has Bancolombia reduced its Scope 1 emissions over time?

Since 2019, Bancolombia's Scope 1 emissions have decreased by 19.96%, reflecting a declining long-term trend in Scope 1 emissions over time. ^a

Compared to the previous year (2022), Bancolombia's Scope 1 emissions increased by 3.94%, suggesting that the company faced challenges in reducing emissions from its directly owned or controlled operations. ^a

What are Bancolombia's Scope 2 emissions?

In 2023, Bancolombia reported Scope 2 greenhouse gas (GHG) emissions of 3,073 tCO₂e using the market-based method and 14,721 tCO₂e using the location-based method. ^a

Has Bancolombia reduced its Scope 2 emissions over time?

Since 2019, Bancolombia's Scope 2 greenhouse gas (GHG) emissions (Location-Based) have decreased by 35.2%, reflecting a declining long-term trend in Scope 2 emissions over time. ^a

Compared to the previous year (2022), Bancolombia's Scope 2 emissions (Location-Based) fell by 29.39% in 2023, showing that the company has made progress in taking action to reduce the climate impact of its energy consumption. ^a

What methodology does Bancolombia use for Scope 2 reporting?

In 2023, Bancolombia reported its Scope 2 emissions using the market-based method and using the location-based method. ^a

Bancolombia's Scope 2 Emissions Over Time

Total Scope 2 Location-Based
Total Scope 2 Market-Based

Insights into Bancolombia's Value Chain Emissions

In 2023, Bancolombia reported 1,688 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 2023 disclosure of Bancolombia includes a breakdown across 0 of the 15 Scope 3 categories defined by the GHG Protocol, down from 1 in 2022, indicating a decline in reporting granularity and reduced insight into the company's full value chain emissions. ^a

Bancolombia's Scope 3 Emissions Over Time

Total Scope 3
Year-over-Year Change

What are Bancolombia's Scope 3 emissions?

In 2023, Bancolombia reported total Scope 3 emissions of 1,688 metric tons of CO₂ equivalent (tCO₂e). ^a

Has Bancolombia reduced its Scope 3 emissions over time?

Since 2019, Bancolombia's Scope 3 emissions have decreased by 46.21%, reflecting a declining long-term trend in Scope 3 emissions over time. ^a

Compared to the previous year (2022), 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

Insights into Bancolombia's Total Carbon Footprint

In 2023, Bancolombia reported a total carbon footprint of 16,955.7 metric tons of CO₂ equivalent (tCO₂e) across Scope 1, Scope 2, and Scope 3 emissions. This represents a 26.33% decrease compared to 2022, 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 86.82% of the company's total carbon footprint, followed by Scope 3 emissions at 9.96%. ^a

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