Message from the CEO

Canacol Energy remains committed to advancing the promotion, protection, and respect for human rights. We know that as a company we play an important role in fostering a proactive culture of best practices concerning human rights. This commitment has allowed us to achieve excellent results in this area.

Within the framework of our commitment, Canacol continues to promote respect for human rights among the contractors, local communities, and other stakeholders. This is done to ensure that they are aware of and adhere to these principles.

As agents of change, we have been able to identify risks and opportunities associated with our operations through a due diligence process. This approach enables us to prevent possible human rights violations and establish mitigation measures if they occur.

We reiterate our commitment to this task and invite our Canacol Energy Family to embrace our diversity. Let us dedicate our efforts to further enhancing the culture of education and respect for human rights within the company."

Charle Gamba
CEO – Chief Executive Officer

Canacol Energy has a Human Rights Policy approved by the highest management level of the company. This policy reflects Canacol's commitment to the respect, protection, and promotion of human rights. It is applicable and disseminated to all employees, contractors, partners, and suppliers who are associated with the Company. The objective is to extend our principles within the scope of their projects, Operations, and activities.

Canacol firmly rejects any form of (i) human trafficking; (ii) forced labor; (iii) child labor; and (iv) discrimination.

The Company also upholds and advances (i) freedom of association; (ii) equal remuneration; and (iii) protection of special groups, including women, children, adolescents, individuals with disabilities, ethnic communities, and migrant workers, among others.

For further information, please refer to the following Human Rights Policy

Canacol enforces its procedures and policies in human rights, adhering to the United Nations Guiding Principles on Business and Human Rights, the principles of the United Nations Global Compact, and the Voluntary Principles on Security and Human Rights.

Canacol also takes its direction from the principles and rights enshrined in several crucial international documents. These include the Universal Declaration of Human Rights, the International Covenants on Civil and Political Rights, as well as on Economic, Social and Cultural Rights, the eight conventions of the International Labor Organization (ILO), the Declaration of the ILO on Fundamental Principles and Rights at Work, the United Nations Declaration on the Rights of Indigenous Peoples, the Convention on the Elimination of All Forms of Discrimination against Women, the Convention on the Rights of the Child, the ILO Convention 169 on Indigenous and Tribal Peoples and other principles and rights established in the domestic laws of the countries where the Company operates.

At Canacol we have developed a comprehensive approach to Human Rights through a series of key documents and processes. First, the Human Rights Policy sets forth the fundamental principles that govern the integration of Human Rights into all aspects of the Company’s operations, in alignment with various international standards and declarations.

Second, the Human Rights Manual provides clear guidelines for managing and promoting Human Rights, encompassing both the respect for individuals’ rights within the Company’s operations and the promotion of best practices in Human Rights.

Third, Due Diligence in Human Rights process outlines guidelines for identifying, avoiding, and resolving potential or actual risks related to Human Rights.

Finally, the Human Rights Guide delineates the roles, responsibilities, and procedures necessary for the implementation of Human Rights within the Company.

Together, these documents and processes form a robust framework for Canacol’s commitment to Human Rights.

Outline for Canacol’s Human Rights Procedures:  

Expanding upon the framework for the integration of Human Rights within Canacol, the company has also established the following procedures:

• Management of Human Rights Complaints: delineates the steps for addressing Human Rights complaints received through Canacol's communication channels.
• Human Rights Remediation: provides guidelines for effectively addressing Human Rights violations and devising strategies to mitigate and transform negative situations within the Company's operational context.
• Security and Human Rights: establishes clear guidelines governing Canacol's interactions with entities responsible for public and private security.
• Risk Identification and Management: introduces a process for identifying and proactively managing Human Rights-related risks and opportunities within the Company.
• Land Management and Human Rights: sets forth guidelines to ensure that all business activities, particularly those related to land acquisition, use, and associated operations, are conducted with the utmost respect for Human Rights.

Collectively, these procedures constitute a robust and comprehensive framework through which Canacol demonstrates its unwavering commitment to the integration of Human Rights and responsible management.

Canacol Energy presents an annual Human Rights Management Report, summarizing the key actions and efforts undertaken during the preceding year.

This report encapsulates the Company's commitment expressed through its programs dedicated to the promotion and respect of Human Rights. These programs are primarily focused on: i) enhancing due diligence; (ii) cultivating a culture of education and respect for human rights; and iii) guaranteeing the complete adherence to human rights by our employees, contractors, and stakeholders.

For a deeper insight into our Human Rights management efforts, please refer to the 2023 Human Rights Management Report.

In accordance with the United Nations Guiding Principles on Business and Human Rights, companies are required to institute a process of Human Rights Due Diligence. This process aims to identify, mitigate, and address the adverse impacts of their activities on Human Rights. The due diligence process consists of five components:

At Canacol we have established a Due Diligence process based on an assessment of Human Rights risks and opportunities. This process is designed to identify gaps and assess the impacts concerning the implementation of the Company's procedures and policies in our own operations and with our contractors and tier 1 suppliers. In the last 4 years we have evaluated 100% of our own operations, contractors and tier 1 suppliers in human rights.

In this context, Canacol periodically conducts a detailed evaluation of each of the five components related to Human Rights Due Diligence. The aim is to offer recommendations that bolster the identification of risks and opportunities as well as the assessment of potential and existing impacts. These insights are then incorporated into the Company's integrated management system which is quarterly reviewed.

For more information about our Human Rights Due Diligence process, please refer to the 2023 Human Rights Management Report and Due Diligence in Human Rights Process.

At Canacol, we recognize the importance of incorporating human rights mitigation and remediation plans, especially in instances where there is a negative impact on the human rights of our stakeholders. The above, is aimed at facilitating the implementation of effective reparation mechanisms in cases of Human Rights violations affecting individuals or groups.

To this end, we have developed a Human Rights Remediation Procedure. This procedure establishes guidelines, plans and methodologies for remediation. It encompasses various alternatives that are contingent on the extent of impact, the level of realization, and the nature of the risk.

At Canacol, there have been no violations of Human Rights since the inception of the company. Therefore, to date it has not been necessary to apply the Human Rights Remediation Procedure.

For further information of our mitigation and remediation process, please refer to the Human Rights Policy.

Canacol has a strict procedure regarding security and human rights, understanding the importance of these practices for the Company, and to comply with the Voluntary Principles Association, as Canacol became an engaged member in 2022, and is willing to become a corporate member in 2025.

The general objective of the procedure is to establish the guidelines for the relationship between Canacol and those responsible for maintaining public and private security in our areas of operation, as well as implement a procedure in case of violation of human rights by those responsible for maintaining public and private security, in the performance of their functions.

The procedure is applicable to Canacol´s personnel linked to the security department, members of the Public Force and private security contractors, within the framework of activities for the maintenance of public and private security of the Company's assets and personnel.

The Company's relationship with the Public Force and private security contractors is based on the rules, standards and instruments established in the Company's Human Rights Policy, especially the following:

• Universal Charter of Human Rights
• Guiding Principles on Businesses and Human Rights
• United Nations Global Compact
• Voluntary Principles on Security and Human Rights

The procedure covers the following aspects regarding managing security forces and human rights:

• Risk Assessment: In accordance with the cycle defined by the Company for Management of Risks and Opportunities and based on the standard of ISO 31000.
• Interactions with public security
• Interactions with private security
• Monitoring of security providers to ensure they fulfill their obligation to provide security in a manner consistent with the rules of conduct outlined by our company (Security Addendum for suppliers)
• Grievance mechanisms covering security forces
• Audit and assessment of security contractors

At Canacol we recognize the importance of Human Rights, our strategies in this area were recognized by:

• 2023: Global Compact and the Bogota Chamber of Commerce for the initiative “Canacol, a culture focused on respecting and guaranteeing Human Rights”.
• 2024: Colombian Oil and Gas Association (ACP by its acronym in spanish) recognition "Facts of Sustainability" for the initiative: "Canacol, a culture focused on respecting and guaranteeing Human Rights".