PCR Group, a Latin American energy holding company, published its 2024 Sustainability Report, the third prepared under the GRI 2021 Standards and the Oil and Gas Sector Supplement. The document provides a detailed snapshot of the economic, environmental, social and governance performance of the company, which has operations in Argentina, Ecuador, the United States and Chile and spans three capital-intensive businesses: hydrocarbons, cement and renewable energy.
From the outset, the report sets out a clear conceptual framework. “At PCR, we understand sustainability not as an isolated objective, but as a cross-cutting axis that runs through our business strategy and guides our day-to-day decisions,” wrote Martín Federico Brandi, the group’s chief executive officer, in the opening letter. That definition serves as the thread running through a document aimed at showing consistency between production scale, operational discipline and impact management.
Economic performance and operating scale
In 2024, PCR posted net sales of $526.99 million and invested $832 million in property, plant and equipment and other assets. It also allocated $159.2 million to social investment, mainly linked to communities near its areas of operation.
The company maintains a significant presence in:
- Oil and gas, with operations in Argentina and Ecuador
- Cement, where it has consolidated its position as Patagonia’s leading producer
- Renewable energy, with expansion in both the domestic market and the United States
This structure supports a diversified energy model, with simultaneous exposure to extractive, industrial and power generation assets, at a time marked by the energy transition and rising environmental and financial requirements.
Renewable energy: the strategic growth driver
Renewables emerge as one of the most prominent chapters of the report. In 2024, PCR added 198 MW of new capacity through three wind farms, lifting total installed capacity to 527.4 MW. At that level, the company ranks as Argentina’s second-largest wind power generator.
Key milestones during the year included:
- The inauguration of the San Luis Norte Wind Farm, with 112.5 MW of capacity
- Development of the country’s first hybrid park, combining wind and solar generation
- Progress on the GEAR I project, developed with steelmaker ArcelorMittal Acindar, aimed at supplying industrial demand with renewable energy
PCR said the expansion is driven by an economic and commercial rationale, based on long-term supply contracts that allow industrial customers to cut emissions and decarbonize operations while stabilizing energy costs. From a management standpoint, the renewables business obtained integrated ISO 9001, ISO 14001 and ISO 45001 certification in 2024, covering 100% of its activities.
Oil and gas: production and operational control
In the oil and gas segment, PCR reported total production of 7.31 million barrels of oil equivalent in 2024, under an operational control approach. Of that total:
- 5.88 million boe were crude oil
- 1.43 million boe were natural gas
Average daily production stood at about 20,000 boe per day, with operations in both Argentina and Ecuador. The report underscores the systematic application of environmental impact assessments prior to each project, the preparation of annual environmental reports by operated area, and the management of risks related to spills, waste and biodiversity.
In Ecuador, the company marked 25 years of operations, highlighting production continuity and ongoing institutional dialogue with authorities and hydrocarbon sector stakeholders.
Environmental management and climate change
The report also includes a matrix of climate-related risks and opportunities aligned with international ESG management standards. Key risks identified include extreme weather events, environmental regulatory changes, operational contingencies and potential constraints on access to financing.
At the same time, PCR identifies opportunities linked to:
- Regulatory and tax incentives for clean energy
- Access to sustainable financing
- Use of renewable energy certificates (IRECs)
- Greater use of natural gas and co-processing in the cement industry
All business units operate Environmental Management Systems that monitor greenhouse gas emissions, water and energy consumption, waste management and biodiversity controls, with particular emphasis on wildlife monitoring in areas influenced by wind farms.
Human capital, safety and labor relations
On the social front, PCR reported more than 1.8 million hours worked by employees in 2024, with no work-related fatalities among either direct employees or contractors. The company highlighted the consolidation of its Integrated Health and Safety System, covering hygiene, safety, environment and occupational health.
Other key indicators for the year included:
- An average of 25.77 training hours per employee
- Women holding 20% of management positions
- 98.36% of spending directed to local suppliers
PCR also maintains institutionalized dialogue with labor unions, takes part in collective bargaining negotiations and underscores compliance with labor regulations across all its operations.
Governance, integrity and institutional engagement
The report details the group’s Integrity Program, which includes anti-corruption policies, mandatory training from onboarding and formal reporting channels. The document was prepared with input from all key areas of the company and reviewed and approved by its corporate governance bodies.
In 2024, PCR was recognized by BBVA with the Greenfluencers award for its sustainability performance across its three business units. The company also participated actively in industry chambers and institutional forums linked to energy, cement and the energy transition.
Overall, the 2024 Sustainability Report presents PCR as a hybrid energy player, combining traditional businesses—hydrocarbons and cement—with sustained expansion in renewable energy. The scale achieved in wind generation, operational continuity in oil and gas, and the integration of environmental and governance standards shape a profile aligned with current demands in energy and financial markets.