Press release from PR Newswire
Ecopetrol Included in the Dow Jones Sustainability Index
Friday, September 09, 2011
- Ecopetrol is today one of 12 oil companies that are part of the leading international sustainability indicator.
- The company is among the 10% best rated oil companies worldwide.
BOGOTA, Colombia, Sept. 9, 2011 /PRNewswire/ -- Ecopetrol (NYSE: EC; BVC: ECOPETROL; BVL: EC; TSX: ECP) was included in the Dow Jones Sustainability (Dow Jones Sustainability Index-World), according to a report dated yesterday by the Swiss firm SAM (Sustainable Asset Management), who launched the index in 1999 in partnership with Dow Jones.
The Dow Jones Sustainability Index is a reference for international analysts, sector specialized entities, and portfolio investors who consider sustainability performance when making investment decisions.
The Sustainability Index is one of the top world indicators for monitoring the financial performance of leading companies in terms of three-dimensional corporate sustainability (economic, social and environmental).
With the milestone announced today, Ecopetrol became part of the group of the top 10% of companies with the best sustainability performance, out of a list of 2,500 public companies which are part of the Dow Jones world index.
The DJSI follow a best-in-class approach, including companies across all industries that
outperform their peers in numerous sustainability metrics. Each year, SAM invites the world's 2,500 largest companies, measured by free-float market capitalization, from the 57 sectors to report on their sustainability performance.
According to data released by SAM, 118 oil and gas companies were analyzed, of which only 12 were included in the world index.
Among the areas in which Ecopetrol obtained the highest results were human talent development, social impact on communities, and commitment to stakeholders. Significant improvements were perceived in environmental and economic dimensions and the consolidation of the company's corporate governance. This milestone came four years before planned, as Ecopetrol had initially envisioned becoming a part of the DJSI by year 2015.
Ecopetrol shares the privilege of being part of the index with companies like Petrobras, Repsol, Statoil, Total and Eni. Starting 2011 Colombian companies are included in the Dow Jones world index for the first time.
The result obtained shows the progress Ecopetrol has made to ensure sustainable operations and reach its goal to produce one million clean barrels in 2015 and 1.3 million in 2020. Clean barrels refers to an operation without accidents, environmental incidents, with labor normalcy, in harmony with stakeholders, sustainable in three dimensions (economic, social and environmental), and profitable.
Ecopetrol is the largest company in Colombia and a firm integrated into the petroleum chain, ranked among the 40 largest petroleum companies in the world, and one of the four principal petroleum companies in Latin America. In addition to Colombia, where it generates more than 60% of domestic production, it has a presence in exploration and production activities in Brazil, Peru and the United States (Gulf of Mexico). Ecopetrol has the largest refinery in Colombia, the largest part of the network of oil pipelines and multi-use pipelines in the country, and it is significantly increasing its participation in biofuels.
This press release contains statements concerning business prospects, estimates of operating and financial results, and assertions concerning Ecopetrol's prospects for growth. These are all projections, and as such, they are based solely on the expectations of management with respect to the future of the company and its continuing access to capital to finance the company's business plan. The fulfillment of such estimates in the future depends on the behavior of the market, regulations, competition, and performance of the Colombian economy and industry, among other factors; therefore, these projections are subject to change without prior notice.
For further information please contact:
Director of Investor Relations Alejandro Giraldo Phone: +571-234-5190 Fax: +571-234-5628 e-mail: email@example.com
Media Relations (Colombia) Jorge Mauricio TellezPhone: + 571-234-4329Fax: +571-234-4480e-mail: firstname.lastname@example.org
SOURCE Ecopetrol S.A.