Study: Colombians supportive of ESG and renewable energy transition
Colombians are largely supportive of ESG initiatives, with a new study indicating that over 80% of the population believes it is essential for both the government and large corporations to transition toward renewable energy and make a real effort for a more sustainable system.
These findings were revealed in a survey from SEC Newgate that surveyed just over 1,000 Colombians on various topics related to ESG, including government initiatives, private sector alignment, and social dimensions like diversity & inclusion initiatives.
Though only 40% of Colombians surveyed were aware of what ESG is, 86% expressed interest in the concept after it was explained to them. This widespread interest is largely driven by a national focus on biodiversity and social equity, leading many to believe that environmental protection and carbon reduction should be prioritized even when they challenge short-term corporate profitability.
The survey shows that 70% of respondents are positive about the energy transition, with only 10% reporting they feel negatively about it. A whopping 88% said they believe it is highly important for their country to transition to clean energy sources.
The country is currently navigating a structural economic overhaul known as the “Transición Energética Justa” or Just Energy Transition. This policy aims to reduce Colombia’s historic reliance on coal and oil exports by scaling up decentralized energy production, particularly through massive wind and solar initiatives in the La Guajira region.
Private sector alignment and green innovation
In the private sector, major Colombian players are moving beyond mere regulatory compliance to lead substantial sustainability initiatives. Despite that, respondents mostly feel that large businesses are not putting the appropriate amount of emphasis on environmental action: Just over half said companies are not doing enough to reduce carbon emissions
In the aviation sector, carriers like Avianca are modernizing their operations through fuel-efficiency software and the exploration of Sustainable Aviation Fuel (SAF). This corporate evolution is mirrored in the logistics industry, where companies like Servientrega are electrifying their last-mile delivery fleets. These are moves in the right direction, but the general level of focus on sustainability is far lower than in Europe, for example.
Public expectations are quite high: 76% of Colombians believe that carbon emissions should be prioritized over profitability, while 80% said they businesses should speak out on environmental issues even if it makes them unpopular with governments in their country.
Colombians are more divided on issues regarding governance and stakeholder accountability. For example, respondents were mostly split on whether businesses are transparent enough, listening to stakeholders demands, operating ethically, sufficiently protecting customer data, and using AI in a way that benefits stakeholders.
Social responsibility
Colombia has a long history of popular support for social programs and progressive, community-focused values. The ‘Social’ part of ESG resonates strongly with most respondents. In fact, 83% said they believe companies should talk about their values even if they do not align with the current views of governments.
With populist leftist leader Gustvo Petro now leading Colombia, voters have made clear their desire to move away from decades of right-leaning governments under former administrations. This repudiation of right-wing values has reached an even higher pitch as Petro openly spars with Trump on the international stage over issues like Israel/Palestine and the recent US intervention in Venezuela.
The survey found that many Colombians want to see big businesses take more social responsibility and further support local communities. A total of 46% said they believe companies are not doing enough to support the local communities living where the companies operate.
On the other hand, more respondents believe companies are actually performing well when it comes to diversity & inclusion initiatives and speaking publicly on political issues. 80% said they think that companies should take more action to close the gender pay gap, and 79% support more accessibility initiatives that help individuals participate in their workplaces, regardless of abilities or disabilities.
