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Valorem > Companies > Valorem Report 2018
Generación de valor para los accionistas

Value generation for shareholders

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Generación de valor para los accionistas

Valorem achievements

  • The strategic risk management system was implemented, which allows to identify and monitor risks that may hinder the fulfillment of the strategic objectives set. Likewise, this system facilitates the creation of action plans which allow to mitigate such risks, and to identify value generation opportunities from them.
  • The socialization of the Sustainability Corporate Model and the results of its operation was carried out with key external players. These meetings allowed to validate the relevance of the five material matters of the model and to receive the necessary feedback to seek to generate value to all stakeholders.
  • A benchmarking exercise of the organizations with the best sustainability practices, Best in Class, was made to identify tendencies, define the management approach for the next years and advance in the road map of the Group´s Sustainability Corporate Model.
  • An analysis and prioritization exercise of Sustainable Development Goals, SDG´s, was initiated for each company in the portfolio.

Valorem’s outstanding initiative

  • Valorem defined, with the support of the Mckinsey firm, the road map to substantially increase the portfolio value in a sustainable way.

Achievements

  • The opportunities to close gaps and maximize the value potential of each of the Valorem Group companies were identified from a Top Down perspective
  • A work plan was established so that these opportunities are revised and validated Bottom Up with the responsible teams

Valorem challenges 2019 - 2020

  • To continue with the implementation of the portfolio value capture initiative.
  • To generate a commitment from the teams of all the companies of the Group to attain the project objectives of closing gaps and capturing value.
  • To continue implementing the best practices of sustainable growth.
Buen gobierno y ética empresarial

Good governance and business ethics

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Buen gobierno y ética empresarial

Valorem achievements

  • A new ethical line was implemented as an effective, confidential and anonymous channel, to make complaints or suspicions of any unethical, inappropriate behavior, or of any violation of the laws and principles of the Conduct Code, or of the compliance policies and standards, by any stakeholder.
  • The new Self-control and Risk Management System for Asset Laundering and Terrorism Financing - SAGRLAFT was implemented, which establishes the norms and procedures to avoid that the activities and resources be used for illegal purposes.
  • The legal committee made up of those responsible for the legal area of the companies was formed. This committee seeks to generate communication channels and cooperation spaces, as well as to sharing good practices of each company, and to become more efficient through the exchange of knowledge, skills and experiences.
  • A document management tool was developed to make the contract procedures, the administration of societies and the administration of judicial processes more efficient.

Valorem’s outstanding initiative

  • The delisting process from the Colombian Stock Exchange was finished through a Public Offering of Acquisition (OPA).

Achievements

  • In the OPA Invernac & Cía S.A.S. obtained 7,11 % of the available shares.
  • Valorem became regulated by the Superintendency of Corporations and will maintain the highest standards of corporate governance.
  • Valorem, through an asymmetric spin-off by creation, split part of its equity to the company Kartal S.A.
  • The company turned into a Simplified Stock Company (S.A.S.)

Valorem challenges 2019 - 2020

  • To carry out the transition of an open company to a closed company maintaining the highest standards of corporate governance and good practices that it had implemented under the surveillance of the Financial Superintendency and of the Colombian Stock Exchange.
Desarrollo y bienestar del talento

Talent development and well-being

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Desarrollo y bienestar del talento

Valorem achievements

  • The company carried out the skills, leadership styles and organizational environment tests with a total of 35 people evaluated, which represents 70% of the population. The scope of the sample covered the levels: executive (president and vice-presidents), managerial and operational (coordinators and professionals).
  • The Valorem Executive Committee received the consolidated reports of the tests from Korn Ferry/Hay Group, which allowed to evidence development opportunities per level.
  • The people evaluated received the results and feedback of the aforementioned tests from the development consultants.

Valorem’s outstanding initiative

To formulate a succession policy that contributes to the sustainability of the organization, ensuring the required talent

Achievements

  • The board of directors approved the succession policy for the group and the plan for its implementation within the companies. The policy establishes the corporate guidelines that regulate the management of the succession process in all of Valorem Group.
  • The objectives of the succession policy are:
    • To ensure the talent required by Valorem Group in the future to reach its business objectives facilitating the identification, selection and development of the potential candidates to occupy the critical positions in the organization in the medium and long-term.
    • To identify and select the external talent for critical positions in which the resource with the required level of enlistment is not available internally. However, it will only be hired in the event of being requested.

Valorem challenges 2019 – 2020

  • To implement the succession policy in the companies and design robust development plans for the successors identified in the talent sources.
  • To carry out the career planning process to leverage the succession and development of valuable executives and identified high potentials.
  • To have development plans for all the evaluated people and be able to work on a specific competence and leadership style. Each area leader is responsible for the performance and development of their teams.
Inversión responsable

Responsible investment

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Inversión responsable

Valorem achievements

  • The methodology to mature growth initiatives continued to be applied, which facilitates the structuring of new business units within the Group’s companies. The evaluation process for these projects ensures compliance with legal standards and allows a comprehensive analysis of corporate governance, environmental and social factors.

Applying this methodology, it was achieved:

  • To develop two new business lines for Ditransa: Transporte Premium and the cargo handling platform in the city of Cartagena.
  • The purchase by Refocosta of the company Eco-Energía S.A.S., in charge of supplying electric power to the municipality of Puerto Carreño. It is stipulated that in a period of two years this company may provide renewable energy from forest biomass.

Valorem’s outstanding initiative

The United Nations Sustainable Development Goals, SDGs, relevant for the Valorem Group companies, were identified from the sustainability best practices benchmarking exercise, Best in Class.

Achievements

  • Valorem carried out work sessions with the portfolio companies to have a better understanding of the SDG’s and thus be able to prioritize them to manage related initiatives that allow them to contribute to the fulfillment of the goals defined in the coming years.
  • In addition, Valorem has made preliminary contacts with the Center for Sustainable Development Goals (CODS) based at the Universidad de los Andes, to join forces in achieving the goals proposed by the United Nations.

Valorem challenges 2019 – 2020

  • To maintain the standards implemented in the portfolio of companies in relation to compliance with current regulations, especially in labor and environmental aspects.
  • To continue with the revision of sustainability aspects in the due diligence processes of potential investments.
  • To promote in companies the development of initiatives related to the sustainable development goals (SDG’s).
Cuidado y buen uso de los recursos

Care and good use of resources

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Cuidado y buen uso de los recursos

Valorem achievements

  • The Valorem corporate building maintained the Leed Platinum certification, optimizing the use of energy and water, and carrying out an adequate separation and use of waste.
  • An environmental campaign was carried out for the purpose of sensitizing all employees to climate change and the importance of caring for the environment. This campaign had a special emphasis on waste management, teaching all employees how to improve their practices through the 5 R’s (Rethink, Reduce, Renew, Reuse, Recycle).
  • 63% of the waste generated in the corporate offices was recovered. Organic waste was used to make compost for the gardens and inorganic waste was delivered to a partner company to carry out the recycling process.

Valorem’s outstanding initiative

  • For the third consecutive year, the carbon footprint was measured

Carbon footprint measurement results of in scopes 1, 2 and 3:

Huella de carbono - Valorem

* Between 2017 and 2018 there is an increase in emissions due to the change in the emission factor

  • Additionally, through the environmental committee, the measurement of the carbon footprint in each one of the Group´s companies was promoted

Achievements

  • Between 2017 and 2018 there was a decrease in fuel and energy consumption factors. Scope 1 was reduced by 10.53% and scope 2 by 5.35% compared to the previous year.
  • The first tree planting was carried out, planting 81 native species in the Serranía del Majuy in the municipality of Tenjo, Cundinamarca. This initiative, in which 80 people participated, including employees and their families, seeks to contribute to the reduction of the carbon

Valorem challenges 2019 – 2020

  • To monitor measurements of GHG emission factors (Greenhouse Gases), promoting reduction and mitigation actions.
  • To continue with the activities of awareness and pedagogy regarding the care and good use of resources.
  • To promote joint initiatives for Group companies through the environmental committee.
  • To extend good environmental practices to its relevant stakeholders.

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