Empowering communities and fostering social responsibility
Committed to strengthening the communities where we live and work
At Parex, we are committed to building a culture that is inclusive and respectful, based on trust and mutually beneficial relationships with the communities where we work. There is nothing more important than the safety and wellbeing of our employees and stakeholders, and we demonstrate this commitment through every decision we make.
Since 2018, Parex has invested in infrastructure to improve access to safe, reliable drinking water through the Agua Para Todos (“Water for All”) Program. This program has supplied over 33,000 local stakeholders with clean water in communities surrounding our Colombian operations.
Under the Colombian Government’s Works for Taxes Program and in coordination with local and national authorities, Parex continues to invest in projects that benefit local communities. Since 2018, Parex has facilitated multiple projects to help improve access to education, access to water and infrastructure. Since 2018, we’ve invested approximately COP 210,000 million (~$50 million).
In October 2019, to honor Parex’s ten-year anniversary and demonstrate our dedication to promoting innovation & creativity the energy sector, we launched the Parex Innovation Fellowship in partnership with the University of Calgary. These fellowships, supported by a $3.24 million endowment from Parex along with our Chairman and former U of C alumnus Wayne Foo, are intended to help researchers focus on innovation and technology-transfer activities. The fellowships provide researchers and students resources to focus on solving some of the world’s most complex challenges in areas including data science and analytics, cybersecurity, and energy sources.
