Suppliers and contractors are essential to our success, so we maintain long-term mutual benefit and shared responsibility relationships. We organize our procurement process to obtain goods and services that meet the highest standards for occupational health and safety, environmental stewardship, social responsibility, and quality, thus ensuring the operation’s reliability.
We promote and encourage the participation of local businesses in our supply chain. We focus our efforts on strengthening their technical, economic, and administrative capacities, to help them to be the best allies possible for Canacol and the market.
Procurement of goods and services
We improve the quality of education and reduce dropout rates and illiteracy by supporting schools and developing technical training programmes. We also develop strategies and initiatives to optimize communities’ quality of life through projects to improve healthcare, access to public utilities, and community infrastructure.
We execute these initiatives together with community leadership (JAC) in the villages that participated in the programme.
Suppliers aligned with ESG factors
We select contractors and suppliers who share our business principles and social and environmental commitments.
Contractors and suppliers risk matrix
We classify contractors and suppliers into four categories – strategic, tactical, transactional, or routine – based on their activities, their impact on our business, and their operational risks. We also consider other economic, ethical, human rights, social, health and safety, environmental, and quality criteria.
Contractor performance management program
Our objective is to build long-term relationships with strategic contractors, identify opportunities for improvement, and establish best practices, to enhance both performance and relations.
Local supplier development program
At Canacol, we are committed to boosting the local economy through job creation and the procurement of local goods and services. Our Local supplier development programme was implemented to increase companies’ technical and administrative skills in our area of influence and promote their participation in our operations.
Local supplier and contractor census
Our annual local supplier and contractor census updates our local company database for each sector of goods and services.
Best labour practices (BPL) with contractors and subcontractors
In 2017, we implemented the BPL process to encourage a culture of compliance and continuous improvement in legal and extralegal labour obligations with contractors and subcontractors.
Our ESG goals
• Develop at least one local supplier development program with local companies
• Contract at least 5% of Canacol’s procurements with local goods and services
• Identify and evaluate 100% of the contractors and suppliers most at risk in ESG issues
• Train 100% of critical contractors and suppliers on ESG issues
• Develop and publish a code of conduct and ethics for suppliers and contractors
• Include ESG criteria in the selection and evaluation of contractors and suppliers
• Evaluate 100% of contractors and suppliers on code of conduct and ethics implementation