Colombia. Sustainability ceased to be an environmental cause reserved for NGOs or governments, and became a market requirement. Today, implementing ESG (environmental, social and governance) policies not only responds to an ethical responsibility, but also to a reputational need.
Colombia is no stranger to this trend, although progress is still incipient. According to the 2024 Sustainability Survey of the Superintendence of Companies, only 23% of companies prepare sustainability reports and only 17% have certifications in this area. Although 86% report anti-corruption policies and 56% use matrices to measure their environmental impact, less than 35% implement specific commitments to climate change or environmental management systems.
Although work continues to improve this picture, it is necessary to review how true and transparent these ESG policies are and if they are not mere marketing strategies, known as "greenwashing". For Dr. Bethlem Boronat, an expert in sustainability and researcher and lecturer at EAE Business School, which belongs to the higher education network Planeta Formación y Universidades, differentiating between the two issues is crucial.
"On many more occasions than would be desirable, these types of policies are adopted under pressure from investors, because the escrow of concessions tends to give higher scores to the companies that apply these policies and, in the case of consumer products, because an increasing part of consumers are starting to use sustainability as a criterion for purchasing decisions," Explains.
The risk of greenwashing for the market
One of the most common mistakes is to communicate green initiatives as if they were an extraordinary achievement, instead of integrating them as an organic part of the business model. This disconnect between strategy and execution gives rise to the phenomenon known as greenwashing, when companies appear to be more sustainable than they really are.
"I usually use the following criteria," notes the expert: "if the company shows its ESG action as if it were a heroic act, a great sacrifice, you have to be suspicious. On the other hand, if the company integrates this policy in a clear and fluid way into its process, it is surely because it is doing so with real commitment."
In that sense, the challenge is not only in doing, but in how what is done is communicated. Today's consumer is more critical, more informed and with immediate access to social networks to denounce contradictions. Therefore, the use of ambiguous labels or confusing messages can backfire, such as that trick where the product incorporates a message that says "designed in such a country", which implies that the product is local, deliberately omitting its place of manufacture.
What Makes an ESG Strategy Genuine
For an ESG policy to be sustainable over time, it must permeate all levels of the organization. It is not a question of creating a "green" area, but of making the environmental and social commitment transversal in each management process. That implies clear objectives, transparency in information, and measurable results.
"Ideally, it should not be an 'ESG strategy', but rather ESG should be deeply embedded in every aspect of the company's governance," explains Dr Bethlem Boronat. "The more transparent the information, the easier it is for a consumer or a counterparty to know even the smallest piece of information about the implementation of that policy, the greater the guarantees that it will be genuine"
In Colombia, the SuperSociedades insists that one of the main gaps is in the deep understanding of international standards. Without such a framework, ESG actions run the risk of being siloed, ineffective, and lacking real impact.
Audits, certifications and reports to reinforce a half-truth
Sustainability certifications and reports have become key tools to validate corporate actions before consumers and allies. However, their effectiveness depends on them reflecting real actions and not simply a business narrative.
"We are now at the point where these reports seem complementary to any other management report, but in the medium term, they are going to have to be the focus of the company's management report, because, otherwise, it will be obvious that it is only a matter of giving a layer of body and paint and that will cause the company to be less competitive," he said. concludes the expert from EAE Business School.
The great challenge for organizations, then, is not to design better ESG strategies, but to stop seeing sustainability as an isolated strategy. When social, environmental and governance commitments are lived from within (decision-making, talent management, value chain), sustainability ceases to be discourse and becomes culture.
The most innovative companies in the world are aiming for models where profitability and responsibility are built in parallel, and where reports do not only tell how good they do, but how they do everything, with their successes and mistakes.
Companies that manage to cross that threshold will not only be more competitive, but will be better prepared to adapt to a market that no longer rewards appearances, but consistency.
