Climate change


Climate change is the result of the human activities of a growing world population that have led to exponential increases in energy consumption as economies and societies develop. In addition to the gases naturally released into the atmosphere, there has been an accelerated concentration of greenhouse gases (GHG). They are produced, mainly, by the combustion of fossil fuels, but also by the deforestation of tropical rainforests, the destruction of marine ecosystems, and an imbalanced consumption of resources.

Global warming impacts all dimensions of life and all regions of the world. Its effects are increasingly evident in extreme weather phenomena, unprecedented temperature increases, stresses on water resources, and adaption difficulties for plants and animal species. Climate change causes detriments to human health, vulnerability in communities, and socioeconomic repercussions. These impacts urge us to quickly take action to reduce atmospheric emissions and to begin to adapt.

At Canacol, we are committed to reducing our carbon footprint, contributing to global efforts and commitments to counteract climate change.


Total non-renewable and renewable energy consumption (GJ)

Energy intensity (kWh / BARREL-E)

Managing carbon emissions

Direct and indirect greenhouse gas emissions (GHG) 16


Emission intensity (kg CO2 eq / BBL-eq) 18

We have reduced our emission intensity by 46% since 2017. We have created a significant reduction in our carbon footprint by progressively replacing diesel fuel with natural gas in our operations.

Canacol’s indirect emissions – upstream activities (metric tonnes of CO2 equivalent)

Scope 3, upstream activities quantified

Significant air emissions 19

Gross global emissions of scope 1 greenhouse gases (GHG) into the atmosphere

Scope 1 gross emissions amount (metric tonnes of CO2 eq)



CH4 emissions (tonnes)

Our ESG goals


YoY increase in renewable and low- or no-carbon sources of energy for the next 6 years

•  Annually verify carbon emissions (scope 1 and 2) by a third-party for the next 5 years

•  Reduce 2021 methane emissions in Betania substation and Jobo station by changing the instrumentation system

By 2022:

•  Quantify 100% of the most relevant categories of Scope 3 emissions

•  Quantify and disclose 100% of the methane emissions associated with the operation

By 2023:

•  Define an internal carbon price as a planning tool to help identify risks and opportunities

•  Identify and include in the corporate risk matrix all risks related to climate change, water availability, and quality, and perform a sensitivity analysis and stress testing

By 2025:

•   Establish the company’s carbon neutrality targets from a 2021 baseline

By 2026:

•  Build a management incentives program based on climate change issues, including targets