Financial and Operational Performance of the Colombian Energy Sector in the Context of the Sustainable Development Goals
Journal Title: Revista CEA - Year 2022, Vol 8, Issue 18
Abstract
This article analyzes the financial and operational performance of companies in the electric power sector in Colombia and shows the practices they have implemented to contribute to the Sustainable Development Goals (SDGs), which are a global initiative that seeks through different goals to contribute to the fulfillment of the 2033 agenda for sustainable development. This study is based on the idea that these companies are called upon to articulate their financial and non-financial management so that they are in line with the 2030 Agenda, in a sector that is sensitive to and relevant for the country’s development. This study used a univariate analysis of financial and operational indicators of electric power generation companies in Colombia (with a market share of more than 1 %) from 2014 to 2019. Content analysis was implemented to review the 2019 sustainability reports of 10 companies and study their strategies and mechanisms to comply with the SDGs. It is clear that the SDGs are prioritized in the strategy and disclosed in the sustainability reports of most companies examined here, thus following the disclosure guidelines of The Global Reporting Initiative and the guide for business action on the Sustainable Development Goals of the SDG Compass. The financial results of these companies (measured here by profitability analysis) show how corporate sustainability actions can be leveraged. However, it was not possible to determine the amounts they invested or the spending budgets they allocated to meet the SDGs based on their official documents or information in financial statements. Good financial results by energy companies must go hand in hand with their adoption of a socially responsible culture that promotes, drives, and ensures the development of their country.
Authors and Affiliations
Jackeline Feuillet-Alzate, Jaime Andrés Correa-García, Daniel Ceballos-García
Keywords
Related Articles
- EP ID EP716658
- DOI https://doi.org/10.22430/24223182.2022
- Views 47
- Downloads 0
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This article analyzes the financial and operational performance of companies in the electric power sector in Colombia and shows the practices they have implemented to contribute to the Sustainable Development Goals (SDGs...