A three-pronged approach

We are pleased to present the Second Edition of Tecpetrol's Global Sustainability Report, a tool created with input from everyone, which defines who we are and what we want to be. It includes key performance indicators as well as an analysis of what we have achieved in environmental, compliance, and economic terms.

Tecpetrol is launching its second sustainability report covering the January-December 2020 fiscal period. The report is principally a tool that enables us to present our understanding of the principles guiding our business to stakeholders, focusing on the contributions made by our activity to the countries where we operate (Argentina, Colombia, Ecuador, and Mexico) and where we have a degree of participation (Peru, Venezuela, Bolivia, and Uruguay).

The 2020 Report presents Tecpetrol's performance in economic, social, and environmental areas. Julieta Delorenzi, from HR, who was in charge of coordinating and compiling the information, points out that "This is not merely a report to be published, but rather an instrument which helps us to set goals and identify opportunities for improvement in our management."

The report is structured according to a three-pronged approach: ESG (Environment - Social - Governance), a view of sustainability used to benchmark risks, reputation, and the impact of the business on different stakeholders. According to Pablo Martellotta, corporate head of Community Relations, it is key for all areas to take ownership of the data in the report as it is a presentation letter that explains who we are and what wants to be as an organization. "Everything related to Governance and Compliance has huge weight in terms of financing and also for the new businesses we want to develop. The report presents the values which underpin what we do and show how sustainable we are."

Julieta agrees about this, as she points out that the report is a statement of values that support Tecpetrol's brand as an employer: "New generations are far more interested in finding out what contributions the organizations make to the place where they work, and how this affects the way in which they want to work."

She adds that it is a key information tool for anything to do with the company’s reputation, awards, and overall recognition. "When we applied for recognition by UN Women in the area of diversity, we had to undergo an exhaustive audit and the report gave us all the indicators we needed," she observes.

A collaborative process

Both the Talent Management and Communications and the Community Relations sectors, which answer to the Human Resources and Institutional Affairs Department, were responsible for coordinating and compiling the information included in this report.

"We’ve been acting as mediators from our area, as all the people here are the owners of the report," Julieta points out. She highlights that the learning curve experienced during the preparation of the first report made it possible to streamline processes and improve the overall quality of the tool, providing more information, deeper analysis and more thorough collaboration mechanisms.

The report journey is an ongoing process and the team is already beginning work on the third edition for 2021.

Methodologies used to provide indicators

The Global Reporting Initiative (GRI) for sustainability reporting (Core option) was used among other methodologies, drawing on relevant aspects of its Sector Standard for the oil, gas, and coal sectors which is applicable to oil and gas companies. As management tools, we also took into account the Ten Principles of the UN Global Compact, the UN Sustainable Development Goals (SDGs).

"The GRI methodology provides us with a guarantee underpinning the way in which we present our information. And when the report hurts, it means we're doing things properly. The gaps we find are those we have to close in order to continue strengthening our sustainable outlook,” concludes Pablo.

For more information about the report or share it.

The English version will be available shortly.

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