S&P Global rated Grupo SURA’s environmental, social and governance (ESG) performance above the regional average.

  • This rating agency assigned a score of 66 out of 100, which is higher than the average obtained by all those companies on the American continent, the Asia-Pacific region, and close to that of Europe.
  • S&P's highest scores were given to the Company’s best practices and performance from the social standpoint (70), followed by the environmental (61) and corporate governance (59) dimensions.
  • This rating reflects Grupo SURA's performance for 2022 against international sustainability standards, as well as the progress and challenges of the Companies that make up its investment portfolio.
  • Grupo SURA requested S&P to publish this voluntary evaluation as part of its commitment to transparency and reporting to both stakeholders and the market at large.

Medellín. April 24, 2023 Standard & Poor's (S&P) awarded a final rating of 66 points out of  a total of 100, after evaluating Grupo SURA's performance from the environmental, social and governance (ESG) standpoints, taking into account its work as manager of a portfolio of five strategic investments: its subsidiaries Suramericana and SURA Asset Management and its associated companies Bancolombia, Grupo Argos and Grupo Nutresa.

"These types of evaluations against global standards help us to identify opportunities, learnings and priorities as an investment manager with a firm commitment to moving towards greater sustainable profitability while taking a long-term vision. At the same time, making this report public provides our stakeholders and the market with more information regarding our performance and thus enriches their decision-making," stated María Mercedes Barrera, Head of Corporate Citizenship at Grupo SURA.

It is worth noting that Grupo SURA's rating is higher than the average obtained in this independent and voluntary evaluation of Latin American (55 points), North American (65) and Asia-Pacific (60) organizations, and is also close to the European average (70).

"The S&P Global Ratings ESG Evaluation score of 66 reflects Grupo Sura's average environmental profile and its sound social practices with regard to the industries in which it operates (...). Social risk management continues sound despite the difficult social conditions prevailing in Latin America. We also take a favorable view of the Company's commitment to supporting social stability by investing in communities and focusing on occupational health and safety," states the report published and released by this rating agency at the request of Grupo SURA.

On an individual dimension basis, the Company obtained a score of 70 points from the social standpoint. Among the aspects highlighted by S&P is the fact that Suramericana and SURA Asset Management have (i) an effective social risk management function throughout their respective value chains; (ii) social factors are included in their investment decisions; (iii) sound human talent management practices; as well as (iv) above average gender diversity in managerial positions in the Sura Business Group. On the social side, S&P also stated: "Grupo Sura upholds policies, social investment objectives and associated indicators in all its subsidiaries, which go beyond the most common philanthropic practices in the industry."

On the environmental front, the corresponding score came to 61 points. Here, emphasis was placed on the Company’s well-defined framework guidelines for responsible investing that guide the environmental focus of its subsidiaries, with low exposure to emission-intensive industries, as well as risk management in their respective sectors. It also recognized opportunities to move forward with handling the carbon footprint of its investments and in setting goals to reduce its environmental impact. "Overall, we believe that Grupo Sura is effective in mitigating immediate environmental exposures, but its subsidiaries are still developing their strategies to address long-term climate change concerns, such as energy transition and physical risks," the report states.


In terms of corporate governance, S&P Global issued a score of 59 points. In this dimension, S&P highlighted the Company’s strengths in terms of reporting practices, compared to the standard practices throughout the rest of Latin America, together with its set of good governance policies and the fact that the Company shares similar principles of integrity, ethics, and transparency with its portfolio investments. However, the overall score given was affected by factors such as the independent status, experience, and seniority of the members of the Company’s  Board of Directors, due to the recent circumstances in which the Company has been mired. "While the recent tender offers for shares have triggered several legal proceedings, we do not believe that these shall influence the policies and operations of Grupo Sura and its portfolio companies. However, we shall continue to monitor any additional developments relating to ongoing litigation, as well as potential reputational ramifications," the S&P report concluded.