Our Sustainability Commitment Inspires Recognition and Transformation
Alliances & Recognitions
Our commitment to sustainability and corporate responsibility is reflected in the meaningful alliances we’ve stablished with organizations and communities across our operating regions. We contribute to social and environmental progress through these partnerships.
2024Recognitions
At Frontera Energy Corporation, we have positioned ourselves as a company that embraces challenges and commitments, and proposes innovative compliance routes, constantly seeking continuous improvement. In 2024, we participated in different national and international knowledge exchanges to consolidate alliances and expanding the understanding of our recognized practices among our stakeholders. We also received a series of recognitions from specialized entities highlighting our actions and commitment.
WORLD’S MOST ETHICAL COMPANIES
We were recognized as one of the World’s Most Ethical Companies by Ethisphere for four consecutive years. We were one of the two companies in the oil and gas sector that received this recognition.
BEST COMPANIES TO WORK FOR IN COLOMBIA
We are one of the top 20 companies to work for in Colombia. We also obtained a certification as one of the best companies to work for in Colombia for women. Both certifications were granted by Great Place to Work Colombia.
TECHNOLOGY AND CULTURAL TRANSFORMATION
We have been recognized by the Colombian Safety Council for taking road safety to another level of commitment and management, which is why they published our comprehensive training plan, en-route controls and Pegaso technology platform in their publication Protection & Safety no. 413 of 2024.
SOCIAL INVESTMENT MANAGEMENT
We were recognized by Jaime Arteaga & Asociados for the index of private social investment because we are one of the companies with the best performance in the management of our process of social investment and contribution to the development of Colombia.
GOOD ANTI-CORRUPTION PRACTICES
We were recognized in the publication of good anti-corruption practices, impact and materialization of strategies for promoting transparency, by Alliance for Integrity, UNODC and the Global Pact network Colombia in the category “Innovation in Programs within Organizations”.
GC POWERLIST: COLOMBIA 2023
Our General Counsel, Alejandra Bonilla, was recognized as the In House Counsel of the year by Legal 500 in the GC Powerlist: Colombia 2024. This list recognizes legal aairs leaders who have been instrumental in driving their companies forward in an innovative way.
SPE WIN AWARDS
SAARA HIGHLIGHTS AT THE 21st COLOMBIAN CONFERENCE ON OIL, GAS AND ENERGY
In the framework of the 21st Colombian Conference on Oil, Gas and Energy, we received two awards: one in the Great Winner category and another in the Sustainability and Environment category for the integrity in sustainability of our SAARA project (water use for agricultural reuse system).
VLASTIMILA DVORAKOVA RECOGNITION
Our Vice President of Exploration and Development of Deposits, Victor Vega, was awarded the Vlastimila Dvorakova recognition by the American Association of Petroleum Geologists (AAPG) for his contributions to reinforcing knowledge and the geologist community at an international level.
HEALTHY ORGANIZATION
We obtained the Healthy Organization by the Colombian Heart Foundation for successfully implementing a health and quality of life management model of our employees, thus confirming our commitment to the well-being and care of people’s lives in a healthy working environment.
FRONTERA’S ROAD SAFETY
We received the recognition for “Good Practice in Road Safety” by the District Secretary of Mobility’s Company Network of Road Safety initiative for our recurring event: “Frontera’s Road Safety Fair”.
CIPS CERTIFICATION
We received the CIPS certification from the Chartered Institute of Procurement and Supply for our robust supply process.
GOOD AUDITING PRACTICE
We received the good quality certification in Good Auditing Practice for Frontera’s audit role by the Institute of Internal Auditors of Colombia. This confirms the quality, technique and transparency in our audit processes.
Ratings
We strengthened our market positioning by providing our stakeholders with useful information for ratings and rankings of greater relevance.
We obtained a B+ rating in the Issuer Default Rating (IDR) on long-term foreign and local currency non-compliance rating. We also confirmed the B/RR4 rating for our Unsecured Notes due in 2028. The rating outlook is stable.
We obtained a C rating in the climate change questionnaire and B rating in the water security questionnaire.
We obtained a B+ rating in the Issuer Default Rating (IDR) on long-term default in local and foreign currency rating. We also confirmed the B+ rating for our Unsecured Notes due in 2028. The rating outlook is negative.
We kept the C on ISS ESG corporate rating.
We obtained a 35.3 ESG rating.
Our rating is an A.
Alliances
Voluntary Principles on Security and Human Rights
We are one of the 28 companies that are part of this international initiative, which offers practical guidelines for organizations that operate in zones of conflict or with fragile governance. These guidelines ensure that public and private security forces are responsible for protecting operations and act within a framework that is respectful of human rights.
The ‘Carbon Neutral Colombia’ Strategy
Since 2021, we are part of the more than 500 signatory organizations of the alliance for a ‘Carbon Neutral Colombia‘, promoted by the Ministry of the Environment to share good practices and lead by example in the fight against climate change. The ‘Carbon Neutral Colombia’ strategy represents an early action in the long-term climate strategy and will allow the public, private, and civil society sectors to be involved in the path to zero emissions by 2050.
Extractive Industry Transparency Initiative (EITI)
We are part of the EITI, a global standard that promotes the open and responsible management of oil, gas, and mineral resources. The EITI is a transparency tool for countries to improve the management of resources, income, and benefits from the extractive industry.
One Trillion Trees Initiative: Frontera joins the movement
Frontera joined the One Trillion Trees (1t.org) movement launched by the World Economic Forum in 2020, with the global goal of conserving, restoring, and growing one trillion trees by 2030. Frontera pledged to preserve and restore 2,500 hectares of biological corridors in strategic areas by 2027, which is equivalent to approximately 2.6 million trees.
Environmental, Social and Governance
Providing a Different Way of Looking at Energy
We are focused in optimizing efficiency, ensuring safety, and upholding environmental responsibility throughout our operations