At Canacol, we are committed to safeguarding the biodiversity of the ecosystems within our operational purview. We highlight the importance of ecosystems as an essential foundation for sustainable development and community well-being. We recognize our duty in conserving the ecosystems and species present in the regions where we are active. Accordingly, we have charted a course of action through which we address the risks and opportunities associated with biodiversity. This commitment is rooted in our leadership in advancing Colombia’s energy transition in an environmentally responsible manner, aligned with the framework of our sustainable development objectives.

Canacol has set the following objectives in relation to biodiversity.

Our biodiversity commitment reflects our commitment to implementing tangible measures to safeguard the ecosystems within which we operate. We are committed to fostering sustainable practices and forging collaborative partnerships with local communities, all aimed at positively contributing to the well-being and equilibrium of the shared ecosystems.

To learn more about our biodiversity commitment, please refer to it here

The Organization has established a Risk and Opportunity Management system with the primary goal of anticipating and addressing risks and opportunities that could either negatively or positively impact its strategic objectives. This system therefore facilitates informed decision-making and promotes the efficient use of resources, thus promoting Business Excellence.

Consequently, Canacol has conducted an analysis of biodiversity-related risks. The primary risks identified included alterations in aquatic fauna and the modification of water habitats. Additionally, lesser-scale impacts on terrestrial fauna and flora were identified. To mitigate these risks, the following measures were undertaken:

• Execution of conservation agreements.
• Inventory of flora and fauna before commencing operations.
• Signage for protected zones or species.
• Rescue and transfer of vascular epiphytes (mosses, lichens, tree orchids).
• Measures to minimize forest harvesting.
• Performance of very strict environmental management zoning, excluding any intervention in areas of high importance for biodiversity.
• Temporary diversion of land fauna from immediate operational areas.
• Prohibition of hunting and fishing in our operational facilities.

In 2023, we conducted an analysis of the potential effects of our operations on biodiversity, encompassing considerations for flora, fauna, ecosystems, and hydrobiological resources. The insights drawn from this assessment enabled our specialists in environmental sciences, social investment, and engineering to develop mitigation strategies and implement action plans. This analysis was conducted on the area in which we have operational activity for 2023, the prioritized areas were 87.4 hectares.

For further details regarding biodiversity assessment, please refer to the 2023 ESG Report.

Aligned with our commitment to sustainability and environmental stewardship, Canacol has implemented a series of mitigation activities designed to counteract adverse impacts and promote a more balanced and healthier environment. These initiatives range from the establishment of conservation agreements with neighboring communities, reforestation efforts, community engagement through conservation best practices and agroforestry projects, advocacy for the conservation of regional flora and fauna through training and community workshops, and the restoration of damaged or depleted areas as per contractual commitments with the ANH. We are determined to serve as catalysts of positive change, actively engaged in minimizing our ecological impact and enriching the well-being of our communities.

For additional information concerning our mitigation actions, please refer to the 2023 ESG Report.