Home › Banks ›
Bank
BancolombiaColombia

Active

This profile is actively maintained
Last update: 2024-04-26 11:56:23
Bancolombia head offices in Medellin. Photo: Juan Camilo Trujillo via Wikimedia Commons (CC BY 2.0)

Active

This profile is actively maintained
Last update: 2024-04-26 11:56:23
Bank info
BankTrack campaigns
All
About
Website https://www.grupobancolombia.com
Headquarters
Calle 50 No. 51-66
Medellin
Colombia
CEO/chair Juan Carlos Mora Uribe
CEO
Supervisor
Banco de la Republica Colombia
Ownership
listed on Bolsa de Valores de Colombia & NYSE

Bancolombia's largest shareholder is the Grupo de Inversiones Suramericana (46.11%). The bank's complete shareholder structure can be accessed here.

Bancolombia is the largest commercial bank in Colombia and one of the largest in Latin America, providing a range of financial products and services to both individual and corporate customers. The bank is headquartered in Medellin and was founded in 1945. Bancolombia is listed on both NYSE and the Colombian Stock Exchange. Bancolombia was the first Colombian financial institution to adopt the Equator Principles.

Sustainability
Commitments
Policies
Voluntary standards

Bancolombia's most important sustainability commitments can be found at the website sections listed below.

Links

Sustainability

Sustainability policies

Corporate policy on critical industries to climate change policy

Bank policy
2022-11-03 00:00:00 | Bancolombia

Human rights policy

Bank policy
2022-06-30 00:00:00 | Bancolombia

Responsible investment policy

Bank policy
2022-06-28 00:00:00 | Bancolombia

Controversial themes policy

Bank policy
2021-09-30 00:00:00 | Bancolombia

Environmental and social risk assessment policy

Bank policy
2021-05-06 00:00:00 | Bancolombia

Stakeholders policy

Bank policy
2020-08-20 00:00:00 | Bancolombia

Climate change policy

Bank policy
2020-05-31 00:00:00 | Bancolombia

Environmental management policy

Bank policy
2019-08-31 00:00:00 | Bancolombia

Sustainable procurement policy

Bank policy
2019-07-10 00:00:00 | Bancolombia

Code of ethics and conduct

Bank policy
2019-04-08 00:00:00 | Bancolombia

Anti-money laundering questionnaire

Bank policy
2018-02-15 00:00:00 | Bancolombia

Good governance code

Bank policy
2018-01-31 00:00:00 | Bancolombia
Bancolombia has committed itself to the following voluntary standards:
Carbon Disclosure ProjectTags: carbon | climate change | greenhouse gas emissions
Equator PrinciplesTags: Equator Principles | project finance | corporate social responsibility | sustainable development
Global Reporting InitiativeTags: sustainable development | human rights
Net-Zero Banking Alliance (NZBA)Tags: climate change | corporate social responsibility | energy | energy plants
Paris Agreement Capital Transition Assessment (PACTA)Tags: corporate social responsibility
Partnership for Carbon Accounting Financials (PCAF)Tags: carbon | corporate social responsibility
Principles for Responsible Banking (PRB)Tags: climate change | corporate social responsibility | finance | sustainable development | United Nations | Voluntary Standards
Principles for Responsible Investment (PRI)Tags: corporate social responsibility | sustainable development | United Nations
Protocolo Verde Brasil (Brazil Green Protocol) Tags: corporate social responsibility | sustainable development
Science Based TargetsTags: climate change | corporate social responsibility
UNEP Finance InitiativeTags: United Nations | sustainable development
United Nations Global CompactTags: United Nations | human rights
Dodgy Deals

Bancolombia is linked to a number of companies and projects that BankTrack considers controversial (so called Dodgy Deals), e.g. as a current or past financier or through an expression of interest. The profiles below provide more details on the nature of Bancolombia's link to these deals.

Projects / Companies
Finance type
Year
News
BankTrack
Partners
Blog
External
Blog
BankTrack news BankTrack blog Partner news Partner blog

As the world chokes in plastic, banks continue to finance plastic production

New research reveals a lack of bank policies dealing with the impact of plastics on climate, nature and humans
2024-10-17 | Amsterdam | BankTrack, Plastic Soup Foundation, Profundo
Blog
BankTrack news BankTrack blog Partner news Partner blog

New benchmark from BankTrack shows Latin American banks falling short on human rights

All 17 Latin American banks assessed are meeting fewer than half of their responsibilities under the UN Guiding Principles
2024-03-12 | Nijmegen | BankTrack
Blog
BankTrack news BankTrack blog Partner news Partner blog

Equator Banks involved in financing at least 200 fossil fuel projects since Paris

BankTrack research sheds new light on finance for fossil fuels by Equator banks
2021-10-26 | BankTrack
Blog
BankTrack news BankTrack blog Partner news Partner blog

New bank climate initiative fails to grasp urgent need to end finance for fossil fuels

Civil society statement on the launch of the Net-Zero Banking Alliance
2021-04-22 | Nijmegen | BankTrack, urgewald, Amazon Watch, Bank on our Future, Indigenous Environmental Network, Market Forces, Positive Money, Rainforest Action Network, Reclaim Finance, ShareAction, Sierra Club
BankTrack news BankTrack blog Partner news Partner blog

Leading finance firms sign up to Mark Carney forum on low-carbon investment

2021-04-21 | The Guardian
Blog
BankTrack news BankTrack blog Partner news Partner blog

New BankTrack Equator Principles reporting tracking tool launched

2020-09-21 | BankTrack
Blog
BankTrack news BankTrack blog Partner news Partner blog

Equator Principles requirements missing for most projects, finds new BankTrack study

Research into 37 projects financed 'under Equator' finds project-level grievance mechanisms or stakeholder engagement processes cannot be evidenced in 65% of cases
2020-08-11 | BankTrack
BankTrack news BankTrack blog Partner news Partner blog

Equator Principles goes beyond project finance, improves transparency

2012-08-13 | Environmental Finance
BankTrack news BankTrack blog Partner news Partner blog

While BankTrack criticizes Equator Principles, IFC celebrates Community of Learning

2011-10-25 | Washington | prizmablog.com
BankTrack news BankTrack blog Partner news Partner blog

Time to Improve the Equator Principles, BankTrack Says

BankTrack mentioned
2011-10-24 | Washington | Social Funds
BankTrack news BankTrack blog Partner news Partner blog

BankTrack to Equator Principles banks; ‘get the Outside Job done’

Equator Principles update must lead to new Principles focused on people and planet
2011-10-23 | Washington | BankTrack
Blog
BankTrack news BankTrack blog Partner news Partner blog

Financiers search for sustainable future

BankTrack mentioned
2011-10-20 | Washington | Environmental Finance
Blog
BankTrack news BankTrack blog Partner news Partner blog

New rules for Equator Principles, but no new commitments from banks

New governance rules represent missed chance for Equator Principles to take bold steps forward on transparency and accountability
2010-07-01 | Nijmegen, the Netherlands | BankTrack
Blog
BankTrack news BankTrack blog Partner news Partner blog

Equator Principles: Action, not words needed

BankTrack calls upon Citi, new chair of Equator Principles to take bold steps forward
2010-03-15 | Nijmegen, The Netherlands | BankTrack
BankTrack news BankTrack blog Partner news Partner blog

Civil society groups call for bold steps forward with Equator Principles

Major reforms needed on transparency, accountability, implementation and climate change
2010-01-14 | Nijmegen | BankTrack
BankTrack news BankTrack blog Partner news Partner blog

Bancolombia group adopts the equator principles

2008-12-11 | Colombia
Resources
Documents
Links

NZBA 2024 Progress Report

Other document
2024-10-01 00:00:00 | NZBA

Management Report 2023

Annual report
2024-05-16 00:00:00 | Bancolombia

PRB report 2023

Other bank document
2023-10-06 00:00:00 | Bancolombia

Human Rights Report 2022

Other bank document
2023-09-13 00:00:00

Annual report 2022

Annual report
2023-06-16 00:00:00 | Bancolombia

Corporate policy on critical industries to climate change policy

Bank policy
2022-11-03 00:00:00 | Bancolombia

Annual report 2021

Annual report
2022-07-14 00:00:00 | Bancolombia

Human rights policy

Bank policy
2022-06-30 00:00:00 | Bancolombia

Responsible investment policy

Bank policy
2022-06-28 00:00:00 | Bancolombia

Climate-related disclosure report 2021

Other bank document
2021-12-01 00:00:00 | Bancolombia

Controversial themes policy

Bank policy
2021-09-30 00:00:00 | Bancolombia

Annual report 2020

Annual report
2021-07-26 00:00:00 | Bancolombia

Environmental and social risk assessment policy

Bank policy
2021-05-06 00:00:00 | Bancolombia

Commitment statement Net Zero Banking Alliance

Other document
2021-04-21 00:00:00 | UNEP FI Principles for Responsible Banking

Stakeholders policy

Bank policy
2020-08-20 00:00:00 | Bancolombia

Annual report 2019

Annual report
2020-08-18 00:00:00 | Bancolombia

Climate change policy

Bank policy
2020-05-31 00:00:00 | Bancolombia

Environmental management policy

Bank policy
2019-08-31 00:00:00 | Bancolombia

Sustainable procurement policy

Bank policy
2019-07-10 00:00:00 | Bancolombia

Annual report 2018

Annual report
2019-06-30 00:00:00 | Bancolombia

Code of ethics and conduct

Bank policy
2019-04-08 00:00:00 | Bancolombia

Annual integrated report 2017

Annual report
2018-03-31 00:00:00 | Bancolombia

Anti-money laundering questionnaire

Bank policy
2018-02-15 00:00:00 | Bancolombia

Good governance code

Bank policy
2018-01-31 00:00:00 | Bancolombia

Annual and CSR report 2015

Annual report
2017-12-04 00:00:00 | Bancolombia

Annual report 2016

Annual report
2017-06-30 00:00:00 | Bancolombia

Social Report 2014

Annual report
2016-02-05 00:00:00 | Bancolombia

Risk Management System

Other bank document
2016-01-15 00:00:00 | Bancolombia

Annual Management and Corporate Responsibility Report 2014

Annual report
2015-07-15 00:00:00 | Bancolombia

CSR Report 2013

Annual report
2014-01-01 00:00:00 | Bancolombia

Annual Report 2012

Annual report
2013-03-02 00:00:00 | Bancolombia

Annual Report 2011

Annual report
2012-04-02 00:00:00 | Bancolombia

Annual Report 2010

Annual report
2011-03-05 00:00:00 | Bancolombia

CSR Report 2010

Annual report
2011-03-05 00:00:00 | Bancolombia

Letter from BankTrack to EPFIs on issues around Equator Principles Review process

Correspondence
2010-12-18 00:00:00 | Banktrack

Corporate Social Responsibility Report 2009

Annual report
2010-03-01 00:00:00 | Bancolombia
Accountability
Grievances

Bancolombia does not operate a complaints or grievances channel for individuals or communities that might have been affected by the bank's finance.

Stakeholders may also raise complaints via the OECD National Contact Points (see OECD Watch guidance).

Bancolombia is an Equator Principles signatory. While the Equator Principles have no official grievance mechanism, complaints relating to this bank's financing of Equator Principles projects can be filed through our own website www.equator-complaints.org.

This page evaluates Bancolombia's responses to instances of alleged human rights violations linked to its finance, raised by civil society organisations. It is not intended to be exhaustive, but covers selected impacts raised by BankTrack and other civil society partners since 2016. For the full scoring methodology, see here. For more information about BankTrack's evaluation of bank responses to human rights impacts, see the 2021 report "Actions speak louder: assessing bank responses to human rights violations".

Impacts reviewed
Responded?
Total score
Response
Action
Monitoring

A PHP Error was encountered

Severity: Warning

Message: Division by zero

Filename: bankprofile/response_tracking.php

Line Number: 200

Backtrace:

File: /home/btwebhost/www/btci3/application/views/sections/bankprofile/response_tracking.php
Line: 200
Function: _error_handler

File: /home/btwebhost/www/btci3/application/helpers/easy_helper.php
Line: 366
Function: view

File: /home/btwebhost/www/btci3/application/views/sections/bankprofile/main.php
Line: 270
Function: lv

File: /home/btwebhost/www/btci3/application/libraries/sections/Bankprofile.php
Line: 531
Function: view

File: /home/btwebhost/www/btci3/application/controllers/Main.php
Line: 333
Function: content

File: /home/btwebhost/www/btci3/index.php
Line: 321
Function: require_once

Average

A PHP Error was encountered

Severity: Warning

Message: Division by zero

Filename: bankprofile/response_tracking.php

Line Number: 209

Backtrace:

File: /home/btwebhost/www/btci3/application/views/sections/bankprofile/response_tracking.php
Line: 209
Function: _error_handler

File: /home/btwebhost/www/btci3/application/helpers/easy_helper.php
Line: 366
Function: view

File: /home/btwebhost/www/btci3/application/views/sections/bankprofile/main.php
Line: 270
Function: lv

File: /home/btwebhost/www/btci3/application/libraries/sections/Bankprofile.php
Line: 531
Function: view

File: /home/btwebhost/www/btci3/application/controllers/Main.php
Line: 333
Function: content

File: /home/btwebhost/www/btci3/index.php
Line: 321
Function: require_once

NAN%
NAN

A PHP Error was encountered

Severity: Warning

Message: Division by zero

Filename: bankprofile/response_tracking.php

Line Number: 217

Backtrace:

File: /home/btwebhost/www/btci3/application/views/sections/bankprofile/response_tracking.php
Line: 217
Function: _error_handler

File: /home/btwebhost/www/btci3/application/helpers/easy_helper.php
Line: 366
Function: view

File: /home/btwebhost/www/btci3/application/views/sections/bankprofile/main.php
Line: 270
Function: lv

File: /home/btwebhost/www/btci3/application/libraries/sections/Bankprofile.php
Line: 531
Function: view

File: /home/btwebhost/www/btci3/application/controllers/Main.php
Line: 333
Function: content

File: /home/btwebhost/www/btci3/index.php
Line: 321
Function: require_once

NAN

A PHP Error was encountered

Severity: Warning

Message: Division by zero

Filename: bankprofile/response_tracking.php

Line Number: 220

Backtrace:

File: /home/btwebhost/www/btci3/application/views/sections/bankprofile/response_tracking.php
Line: 220
Function: _error_handler

File: /home/btwebhost/www/btci3/application/helpers/easy_helper.php
Line: 366
Function: view

File: /home/btwebhost/www/btci3/application/views/sections/bankprofile/main.php
Line: 270
Function: lv

File: /home/btwebhost/www/btci3/application/libraries/sections/Bankprofile.php
Line: 531
Function: view

File: /home/btwebhost/www/btci3/application/controllers/Main.php
Line: 333
Function: content

File: /home/btwebhost/www/btci3/index.php
Line: 321
Function: require_once

NAN

A PHP Error was encountered

Severity: Warning

Message: Division by zero

Filename: bankprofile/response_tracking.php

Line Number: 223

Backtrace:

File: /home/btwebhost/www/btci3/application/views/sections/bankprofile/response_tracking.php
Line: 223
Function: _error_handler

File: /home/btwebhost/www/btci3/application/helpers/easy_helper.php
Line: 366
Function: view

File: /home/btwebhost/www/btci3/application/views/sections/bankprofile/main.php
Line: 270
Function: lv

File: /home/btwebhost/www/btci3/application/libraries/sections/Bankprofile.php
Line: 531
Function: view

File: /home/btwebhost/www/btci3/application/controllers/Main.php
Line: 333
Function: content

File: /home/btwebhost/www/btci3/index.php
Line: 321
Function: require_once

NAN
Banks and Human Rights

Banks and Human Rights

BankTrack assessed Bancolombia in its 2024 Human Rights Benchmark Latin America, part of the series of  BankTrack's Regional Benchmarks, where it achieved 4 points out of 14 and was ranked as a follower.

The BankTrack Human Rights Benchmark Latin America

Human Rights Benchmark Latin America 2024

BankLast update
Country
Score
Ranking
Details
Bancolombia
COL
4
Follower 4
Explanation
Laggard
Follower
Moderate achiever
Leader
0 - 3 points
3.5 - 6.5 points
7 - 10 points
10.5 - 14 points
For more details see this page.
Tracking the NZBA

Tracking the Net Zero Banking Alliance

Bancolombia is a member of the Net Zero Banking Alliance (NZBA) and has therefore committed to reduce its financed emissions to net zero by 2050; within 18 months of joining the alliance set interim targets for 2030 (or sooner) for high emission priority sectors, and within 36 months set further sector targets; set new intermediary targets every 5 years from 2030 onwards; annually publish data on emissions and progress against a transition strategy including climate-related sectoral policies; and take a robust approach to the role of offsets in transition plans. BankTrack track's implementation of these commitments in the NZBA compliance tracker.

 

Tracking NZBA banks commitments