Colombia’s state-run oil company Ecopetrol reportedly invested over $713 million in environmental projects in 2011.
The environmental administration department of Ecopetrol used the money to adhere to legal standards and invest in voluntary projects aimed at improving and promoting environmental management.
Ecopetrol’s flagship project, the Corporate Biodiversity Program, has spent $7.7 million co-financing initiatives related to research, preservation, conservation and sustainable management of biodiversity in strategic ecosystems in the country through the National Biodiversity Competition.
The environmental management department reaffirmed its commitment to producing 1.3 million clean barrels of oil in 2020. Clean barrels are produced without accidents or environmental incidents, using normal working practices in harmony with interest groups.