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Responsible investment

Inversión responsable
Valorem > Matters > Responsible investment

Investments that maximize the creation of sustainable value in the long-term
considering the triple bottom line (economic, social and environmental).

Valorem Report 2018


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.


  • 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).

Caracol Televisión Report 2018

Caracol Televisión

Caracol Televisión achievements

  • The process for identification and prioritization of the Sustainable Development Goals was initiated in order to advance initiatives focused on the creation of economic, social and environmental value.

Caracol Televisión’s outstanding initiative

The Caracol Titans program stands out, recognizing leaders who develop initiatives in their communities in the following topics:

  • Environmental sustainability.
  • Culture.
  • Education.
  • Technology and connectivity.
  • Health.


  • On its fifth anniversary, the program recognized those people who, from anonymity, contribute significantly to the development of the country with activities or programs that positively, effectively and verifiably benefit individuals, social groups and communities from different regions of the country. This is a public recognition from Caracol TV and the sponsoring firms to people who without any remuneration contribute their knowledge, effort and time.

In 2018 five (5) Titans were recognized out of the 2,245 who had been nominated in 2017. Their programs concentrated on:

  • Health brigades for vulnerable population in Palenquito, Bolívar.
  • Development of a bionic eye for research in ophthalmology programs at universities throughout the country.
  • Planting and recuperation of the Inírida flower as an employment opportunity for women heads of families from indigenous communities.
  • Training for young minors and their parents on the handling of personal information in social networks to avoid risks.
  • Musical education for youngsters with visual disability in the city of Cartagena.

Caracol Televisión challenges 2019 – 2020

  • To continue with the exercise of prioritizing the SDG’s (Sustainable Development Goals) for the management of the company from its business as a communication medium.
  • To implement actions that contribute from the creation of responsible and quality contents to compliance with the SDG’s.

El Espectador Report 2018


El Espectador achievements

  • Promotion of new business lines that have been profitable for the company generating a positive impact at the environmental and / or social level, such as Bibo, Profesión líder and Colombia 2020.

El Espectador’s outstanding initiative

  • Relevant environmental and social campaigns were developed for the country with El Espectador as a great platform for diffusion and promotion.


  • Financing of each one of the projects, with resources originating mainly from the German Government and the European Union for Colombia 2020 and from Isagén for Bibo. These initiatives generated revenues in the order of $5,008 million at the end of 2018.

El Espectador challenges 2019 – 2020

  • To continue generating this type of environmental and social campaigns with financial equilibrium.

Cine Colombia Report 2018

Cine Colombia

Cine Colombia achievements

Programs for access to cinema for low-income populations among which the following stand out:

  • “Social Cineco” Program / Special functions. In 2018 the company managed to enable 286,117 girls and boys to benefit from its various corporate social responsibility programs. With this initiative, more than 1,300 free performances were programmed nationwide.
  • “Condor’s eye view” Festival. This festival was developed in the twelve main municipalities of the Cundinamarca Department, aiming to contribute at the construction of social fabric through the recognition of culture and wealth. Within the framework of this festival, the experience of cinema was promoted as a fundamental part of culture.
  • “Cinema for Everyone” Program. Cine Colombia makes investments in the infrastructure of its Multiplexes that allow access to cinema to the population with disabilities. Since July 2018 “Cinema for everyone” has managed to program 72 functions in 12 cities, allowing 20,533 girls and boys with visual and hearing disabilities to enjoy the cinema accompanied by their families.
  • 98% of the 321 movie theaters have the necessary conditions to serve the population with physical limitations.

Cine Colombias’s outstanding initiative

  • Cine Colombia continues to focus its efforts towards sustainable growth by being at the forefront of technology, launching new products and services that keep the experience of going to the movies attractive.


  • Permanent innovation by launching new experiences for clients: ex. Pop Cinema and Cineco Plus
  • Opening of the Multiplex Viva Envigado.
  • Launch of Imax, Onyx and Platinum Zone theaters.
  • Permanent investment in maintenance and improvement of the Multiplexes for proper operation and client service. More than 7 billion pesos were invested in updating the infrastructure in the Company’s main Multiplexes.

Cine Colombia challenges 2019 – 2020

  • To continue with the implementation of sustainable development strategies.
  • To have constant innovation processes.
  • To strengthen the alternative content and the cultural programs that have positioned Cine Colombia very well.

Tiendas D1 Report 2018


Tiendas D1 achievements

  • Improvement opportunities were identified through the system of attention to questions, claims and complaints:
  • The suppliers and customers’ guarantee policies were diffused in 100% of the stores.
  • The commitment of all suppliers to Koba’s sustainability practices was signed through the application form for the declaration of origin of funds, which includes supplier commitments regarding the dignity of work and non-discrimination based on religion, race or gender, facing safety practices and protection at work, remuneration according to the law, gender equality and the elimination of child labor. Likewise, the promotion and development of environmental practices within their productive processes in compliance with environmental norms according to current laws.
  • Purchase of products to local suppliers and promotion of entrepreneurs with whom long-term alliances are established, which allow to offer excellent quality products while Colombian industry is being developed and supported.

Tiendas D1’s outstanding initiative

To have the best levels of quality in products


  • Implementation of a significant number of audits to suppliers to ensure efficient processes, suitability of raw materials used and in general good manufacturing practices.

Tiendas D1 challenges 2019 – 2020

  • To implement a system of green purchases, which will strengthen the supply chain and generate environmental added value within the company’s operations.

Refocosta Report 2018


Refocosta achievements

  • This investment strengthens the company’s vision of establishing itself in Colombia as a leader in educating society on consumption of wood and furniture originating only from reforested forests, generating natural value, preserving rich adjacent ecosystems and growing with the communities.

Refocosta’s outstanding initiative

  • Implementation of the Growth Protocol methodology for the evaluation of investment projects.


  • Two projects reached the investment phase: REFOPANEL and ECO-ENERGIA.
    • Refocosta bought the company ECO-ENERGIA S.A.S, in charge of supplying electricity to the municipality of Puerto Carreño under the “take or pay” modality for a period of 20 years. It is projected that in a period of 2 years, energy from forest biomass for 4,5 MW can be delivered, constituting an important renewable energy project.
    • In its wood business line, it decided to invest in the construction of a Plywood board factory (REFOPANEL) in the municipality of Zambrano, Bolívar, an area affected by the armed conflict. This factory will bring significant economic development to the region, providing more than 70 jobs.

Refocosta challenges 2019 – 2020

  • To meet the contractual dates for energy delivery in the municipality of Puerto Carreño.
  • To maintain the application of the Growth Protocols methodology in the organization.

Ditransa Report 2018


Ditransa achievements

  • The Mega i Project was started, whose purpose is to create an ideation and innovation culture to escalate businesses.

Ditransa’s outstanding initiative

  • Two projects were implemented under the Growth Protocols methodology with the consultancy and training form Valorem to develop initiatives from these hidden assets. The projects implemented are:
    • The semi-mass business line: which seeks the mobility of consolidated cargo and invoiced by weight or volume, generating greater cost efficiency with respect to transport by package.
    • The Cartagena logistics platform: which allowed the entry of the complementary service of cargo deconsolidation in port and temporary storage, increasing the efficiency in the use of vehicles and operating costs, as well as the growth of the import business line.

Ditransa challenges 2019 – 2020

  • To develop the Mega i project where the goal is to structure two projects.

San Francisco Investments Report 2018

San Francisco Investments

San Francisco Investments achievements

  • The technical, technological, administrative and commercial capabilities of the community were strengthened for the development of initiatives and the productive chaining in tourist and hotel activities, in order to promote social inclusion. 
    • A labor profiling workshop was carried out, where 171 homes and 927 people were registered to characterize the labor force and existing production chains.
    • An alliance was explored with the Mario Santo Domingo Foundation to benefit from its experience in the implementation of entrepreneurship programs.
  • The conservation and recognition of the historical value of the Gethsemane intangible heritage (art scenes, touring exhibitions, testimony collection, and strengthening of the neighborhood artistic and cultural expressions) was promoted through:
    • Support to the Gethsemane Memory Center Corporation in the development of different activities for the residents of the neighborhood during the Cartagena festivities.
    • Support to the Gethsemane Neighbors Association in the Heritage Watch project.
    • Re-edition of the book “Ghetsemane. History, heritage and social welfare in Cartagena” by Rosa Díaz and Raúl Paniagua.
    • Re-edition of the book “Ghetsemane: intangible live heritage of the city of Cartagena de Indias” by Florencio Ferrer and Martín Morillo.
    • Edition of the book: “History of the Cartagena Club and the St. Francis Cloister: precedents, origin and evolution”.
    • Support for the project “Art, culture and territory for the integral development of child and youth leadership of the La Milagrosa Educational Institution in the Gethsemane neighborhood.
    • Support to the organization Cultural Gimani for the implementation of activities of the audiovisual area (photos and videos) of the Gethsemane neighborhood Council.
    • Support for the project Angels We are.

San Francisco Investments’ outstanding initiative

  • To highlight neighborhood life of the Gethsemane community.


  • The Magazine “The Gethsemanian” was launched, a monthly publication that collects stories from the neighborhood and the buildings that are being intervened.
  • A novel by poet Pedro Blas, a key actor in achieving the Declaration of Life of the Gethsemane neighborhood as Cultural and Intangible Heritage of Humanity, was published.
  • The magazine website was created:

San Francisco Investments challenges 2019 – 2020

  • To continue with the implementation of plans and programs that guarantee participatory dialogue and good relations with the community in the project’s area of influence.
  • To position San Francisco as an active promoter of local culture and art of the Gethsemane community from its independent, unique and creative essence.