Climate Change Data

Construcciones El Cóndor S.A.

Climate Impact & Sustainability Data (2023)

Reporting Period: 2023

Environmental Metrics

Total Carbon Emissions:57,483 tons CO2 (21,059 tons compensated)
Water Consumption:312,931 m3
Waste Generated:3,542,293 m3 (46% reused)

ESG Focus Areas

  • Responsible supply chain
  • Service quality management
  • Employer of reference: Wellbeing and OSH
  • Contribution to local development
  • Ethics, compliance and transparency

Environmental Achievements

  • Recovered 6,381 tons of raw material at Ruta al Mar, decreasing material exploitation.
  • Used 7 tons of RAP to produce a stabilized base at Ruta al Mar, decreasing material exploitation.
  • Increased production of rubber-grain mixes by 6%, reducing stone aggregate use by approximately 20%.
  • Compensated 21,000 tons of CO2, representing 36.6% of emissions (19% reduction vs. 2022).

Social Achievements

  • Implemented phase two of the Leadership Development program.
  • Increased value proposition for office personnel: flexi-work, B.E.
  • Launched “A Day Without Accidents” campaign.
  • Training program on road safety using virtual reality glasses.
  • Provided training on human rights to 2,023 people.

Governance Achievements

  • Amended Construcciones El Cóndor business group after incorporating Estudios y Diseños El Cóndor S.A.S.
  • Appointed Luis Alfredo Turizo Ortiz as the new CEO.
  • Appointed Luz María Correa Vargas as Chairman of the Board.
  • Received IR Issuer Recognition for the eighth consecutive year.

Climate Goals & Targets

Long-term Goals:
  • Not disclosed
Medium-term Goals:
  • Consolidation of the ecosystem of emerging infrastructure of Colombia and Latin America.
  • Business development and identification of services and maintenance for Concessions.
  • Development of material production businesses.
Short-term Goals:
  • Reduce absenteeism.
  • Implement regulatory changes per the Hygiene Regulation for Breathable Silica.
  • Ensure 100% implementation of changes on the Road Safety Strategic Plan.

Environmental Challenges

  • High interest rates affecting leverage strategy.
  • Economic decrease of 5% in the construction sector and 15.4% in civil works.
  • High inflation impacting cost of inputs.
  • Liquidity challenges.
  • Compliance with EPC contracts.
  • Payment of obligations.
Mitigation Strategies
  • Implemented the ‘RENACER’ Project to address liquidity and compliance challenges.
  • Joint efforts with financers and clients to build leverage and guarantee cash flows.
  • Sale of assets.
  • Capitalization.
  • Renegotiation of EPC contracts underway.
  • Management of claims to recover losses.

Supply Chain Management

Responsible Procurement
  • Establishment of specific rules and requirements on environmental care and fair treatment of people.

Climate-Related Risks & Opportunities

Reporting Standards

Frameworks Used: GRI Standards, Circular 031 of 2021 (Colombian Financial Superintendence), Circular 12 of 2022 (Colombian Financial Superintendence)

Third-party Assurance: None

Sustainable Products & Innovation

  • Rubberized Asphalt

Awards & Recognition

  • ARL (worker’s compensation system) recognition as 2nd in OSH Innovation