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Materiality

Materiality

New realities have transformed our material topics

2020 was a year of new realities for Grupo Energía Bogotá. The experiences of this year demonstrated the resilience of our team and of the corporate strategy under challenging circumstances. We had to understand the implications of the global crisis caused by the pandemic and to implement a strategy that would enable us to adapt our businesses to the limitations we faced starting in the first quarter of the year. We maintained our purpose of guaranteeing the continuity of operations, of providing the best support possible to all our team members and to contribute to the progress of the territories where we are present.

2020 was also a year of important changes in the definition of GEB’s strategy. Starting in July, we received the support and vision of a new team of leaders in the organization. Leaders committed to the creation of value, the construction of mutually beneficial relationships with our stakeholders, the energy transformation and the well-being and prosperity of the communities.

Defining our materiality is a constant challenge. The Corporate Strategic Plan (CSP) leads to focus on the matters that are truly associated with the sustainability of our business. For this reason, in the second half of the year, we took on the challenge of revising the materiality exercise carried out in 2019. This was in view of the new risks, opportunities and impacts that our businesses faced in 2020, in order to visualize these key topics for corporate management and strategy in the future.

(102-46) Materiality review process
1
Review and analysis of the 2019 material topics
The Sustainability Office led the review of the current materiality exercise, in order to update and align it with the Group’s new purpose and strategy.
2
Search and understanding of frameworks of reference
We identified trends and frameworks of reference such as the publications of the World Economic Forum, the International Energy Agency (IEA), the World Energy Council and the Global Reporting Initiative (GRI), which enabled us to understand our industry’s challenges at the global level, and include these outlooks in our reflection on the material topics and their impacts on stakeholders.
3
Grouping and prioritization of material topics
With support from the Management Team and taking into consideration the new corporate guidelines, we reviewed the various key topics for the organization to understand their interrelationships and to prioritize them.
4
Validation
Lastly, the results obtained were validated with the Group’s leaders and disseminated among the management teams.

This process enabled us to define the contents of the report aligned with the materiality and establish the scope of each topic through the identification of relevant sub-topics.

(102-47) We identified seven material topics by grouping the topics of our previous materiality. The above, combined with the inclusion of a new topic, enabled us to adjust our priorities for the strategic approach to each topic, and to develop a materiality matrix that is adjusted to our reality in 2020, which we present below:

Click on the Material Topic

A Progress and Shared Value A B Responsible Management in the Face of COVID-19 B C Governance and Transparency C D Safety, Well-being and Inclusion D E Regulatory Management and Institutional Relations E F Environmental Commitment F G Excellence, Business Continuity and Innovation G Material Topics Relevance for the business Relevance for stakeholders

(102-47) (102-49) Our Material Topics

1. Progress and Shared Value

Stakeholder group relations and communication mechanisms and development of initiatives that empower communities, transform territories and create shared value.

Subtopic Relations Communities’ progress and shared value
2. Responsible Management in the Face of COVID-19

Strategies and action plans to address the impacts of the pandemic, ensure the well-being of our employees, suppliers and communities, and accelerate the digital transformation.

Subtopic COVID-19 strategy Digital transformation
3. Governance and Transparency

Strategies for the implementation and coordination of the corporate governance guidelines and application of the principles and standards of conduct as the basis for the operations and for relations with all stakeholders.

Subtopic Corporate Governance Ethics and compliance
4. Safety, Well-being and Inclusion

Management of processes and initiatives that contribute to the well-being, safety and development of our employees, and the implementation of strategies to promote diversity, inclusion and equity.

Subtopic Health and safety Well-being Diversity and inclusion
5. Regulatory Management and Institutional Relations

Relations strategies and mechanisms with the objective of propitiating a favorable regulatory environment for the operation of the business in the industry and promote the energy transformation.

Subtopic Regulatory Management and Institutional Relations
6. Environmental Commitment

Management of natural and energy resources to reduce environmental impacts, protect ecosystems and contribute to the mitigation of and adaptation to climate change.

Subtopic Environmental Management Biodiversity Climate Change Operating Eco-efficiency
7. Excellence, Business Continuity and Innovation

Plans and strategies to fulfill the Company’s strategic objectives, promote innovation and assure business continuity and excellence.

Subtopic Operating excellence Business Continuity Risk and Impact Management Innovation management Supply chain