The observatory of companies with the ‘BIC condition’ (Collective Benefit and Interest) is a workspace created by the GRI and Superintendence of Companies, and led by CESA’s CEGC. It acts as an external observation body by collecting and analyzing information that can assess BIC companies’ adhesion dynamics, the collective interest initiatives they develop and, in general, the impact of the law on the business environment. BIC companies are understood to be those that, as well as acting for the benefit and interest of their shareholders, voluntarily act for collective and environmental wellbeing.

In order to analyze the evolution of the process of the adoption and permanence of the BIC condition among Colombian companies, the observatory seeks to identify the environmental and organizational variables that influence commercial companies’ adherence to the BIC condition, its subsequent permanence or, if it is the case, its retirement; track the different types of reporting standards, their frequency of use and challenges in adopting them; and assess the impact of the law and its regulatory decree on the dynamics of the business environment and the BIC companies’ different interest groups. The entities currently part of the BIC Condition Observatory are: ANDI, the Colombian Stock Exchange, the Bogota Chamber of Commerce, CECODES, CESA, Confecamaras, Fenalco Solidario, GRI Colombia, ICONTEC, the Ministry of Commerce, Industry and Tourism, the Global Pact, Sistema B Colombia, the Superintendence of Companies, Del Norte University, EAFIT University, Colombia’s Externado University, and Cali’s Javeriana University.