Grupo Energía Bogotá celebrates Colombia's official entry into the OECD and is making progress in meeting the organization's corporate governance s...
29 April 2020
- The Group believes that meeting the highest standards of Corporate Governance provides investors with reliability, security and transparency.
Bogotá D.C., April 29, 2020. Grupo Energía Bogotá celebrated the official entry of Colombia into the Organization for Economic Cooperation and Development (OECD), a historic achievement which after seven years of joint work provides global recognition of Colombia's good practices in public policy. These practices are encouraging more companies and the private sector to commit themselves to transparency, ethics and accountability, to become more attractive in the marketplace and to generate value for their shareholders.
The country becomes the 37th member and the third Latin American nation to join the OECD.
"The official entry of the country into the OECD is a great motivation for all companies that work every day with superior performance and the highest international standards to provide confidence, security and transparency to our investors, allowing us to be increasingly competitive and transparent in our processes," said Astrid Alvarez, CEO of Grupo Energia Bogota.
Today, the Group has adopted 92,6% of the measures included in the Country Code, following the recommendations of the OECD, a practice that it has implemented in all its companies in Colombia, Peru, Brazil and Guatemala, to ensure the fulfillment of its strategic objectives and to advance towards the consolidation of an organizational culture based on two key pillars of growth: a solid Corporate Governance and a Sustainability policy that brings wellbeing to the communities in the territories where GEB operates with its power and natural gas projects.
Additionally, and as part of this work, the Group's shares have been recognized for their good performance and are considered one of the most attractive shares in the Colombian Stock Exchange (BVC) and one of the most valued in the Colcap during 2020, which shows the investors' confidence.