The present work addresses the question of how companies belonging to the natural resource industry use to perform greenwashing practices to their organizational value chain processes. For this purpose, a multi-case approach with five different cases in the Colombian context is adopted. Through the data analysis, an exemplification of each of the five value chain greenwashing transgressions at the company level is provided. Besides highlighting a real-life problematic with several implications in a sensitive context, the contributions of this work are twofold. First, the work contributes to reinforcing the notion of greenwashing and related transgressions by clarifying a concrete way of identifying certain deceptive practices related to the organizational value chain under certain conditions. Second, this work promotes the transferability of the concepts used for elucidating the reality of the value chain greenwashing phenomenon at different levels and in various geographical contexts. Finally, both theoretical and practical implications are discussed.

This paper aims to analyze concealment and deception in self-defeating organizational crisis response strategies and the possible consequences of their adoption on a company’s reputation. It represents an example of where every guideline to address stakeholders after a crisis was dismissed. It investigates a major environmental incident that took place in Colombia in 2013 and studies how the responsible company responded to the incident through the examination of company reports, media statements and national and international newspaper articles. The analysis shows that in addition to environmental damage, the company’s reputation was affected by the way the company responded during this crisis. The outcomes highlight the importance of the manner in which a crisis response is managed, as these types of mistakes often aggravate reputational damage. This paper is an invitation for companies to be quick, consistent and transparent with their responses when facing their stakeholders in moments of crisis. Not doing so may aggravate not only social but also economic and environmental impacts. Contrary to other contributions on the subject, this study implies that a misleading crisis response, including concealment and deception, can be an even greater challenge to a company’s reputation than the crisis itself.

Conventional wisdom holds that large sums of money poured into election campaigns are the gateway to corruption. Allegations of the corrupting influence of money in politics and policy are widespread on the national level. Yet, little empirical evidence has advanced the understanding of such a link on the local level, coupled with blurred corruption measures. This master’s thesis tests the effect of campaign finance on public procurement corruption risks in Colombian municipalities, focusing on donations, small donations, and financial disclosure. To that end, I seized publicly disclosed contribution-level data from the 2015 municipal elections and a novel index of institutionalized public procurement corruption risks based upon contract-level data from the near population of local governments. The analysis shows that donations are negatively associated with overall corruption risk, yet they affect specific corruption risks differently. By contrast, small donations seem to correlate positively with direct awarding for a sub-sample of medium-sized municipalities, whereas in their large-sized counterparts the effect of the former on institutionalized corruption is adverse. Finally, financial misreporting is positively linked with market competition restrictions and direct awarding. In the conclusion, I discuss the implications of these findings for future research and outline a series of policy recommendations. La sabiduría convencional sostiene que las grandes sumas de dinero invertidas en campañas electorales son la puerta de entrada de la corrupción. Las acusaciones sobre la influencia corrupta del dinero en la política y la política pública son contundentes a nivel nacional. Sin embargo, poca evidencia empírica ha avanzado el entendimiento de dicha relación en el nivel local, junto con difusas mediciones de corrupción. Esta tesis de maestría mide el efecto del financiamiento de campañas electorales en el riesgo de corrupción en la contratación pública en municipios colombianos, enfocándose en las donaciones, las pequeñas donaciones y el reporte de información financiera sobre las campañas. Para alcanzar tal fin, usé información pública sobre las contribuciones políticas durante las elecciones locales de 2015 y un novedoso índice de corrupción institucional en la contratación pública, basado en el análisis de procesos de compra del universo de alcaldías municipales en Colombia. Los resultados muestran que las donaciones se relacionan negativamente con el riesgo de corrupción en general, aunque afectan específicos riesgos de corrupción de manera diferente. Por otro lado, las pequeñas donaciones muestran una correlación positiva con la contratación directa en ciudades medias, mientras en ciudades grandes el efecto parece ser negativo. Finalmente, el subreporte de información se relaciona positivamente con riesgos como restricciones a la competencia y contratación directa. En la conclusión, discuto las implicaciones de dichos resultados para futuras investigaciones y señalo algunas recomendaciones de política pública.

Abstract: This dissertation examines an unusual case of policy transfer of Social Impact Bonds in Colombia, which on this occasion was at the forefront of adopting a social policy innovation in the Latin American region. The theoretical accounts of diffusion mechanisms, often used in the scholarship for explaining diffusion waves of social policies, are assessed to identify the causal mechanisms driving the adoption of this policy. The dissertation employed a within-case study method to trace the causal mechanisms and how they play out within the SIBs adoption process in Colombia. The dissertation finds that the adoption of this social policy for a recent innovator in the region was pushed by various causal mechanisms of external and normative pressures and bounded learning, where cognitive heuristics that shaped the diffusion of social policies in the region did not work as theorized. Moreover, to variable degrees, domestic interest groups' involvement is traced along these diffusion mechanisms. These organizations, therefore, can be agents of policy transfer by influencing and advocating policy choices, carrying out the learning process of social policy innovations, and influencing the design and delivery of social services linked to such innovations. Resumen: Esta disertación examina un caso inusual de transferencia de políticas de Bonos de Impacto Social en Colombia, que en esta ocasión estuvo a la vanguardia de la adopción de una innovación de política social en la región latinoamericana. Para identificar los mecanismos causales que impulsaron la adopción de esta política, se evalúan los relatos teóricos de los mecanismos de difusión, a menudo utilizados en el ámbito académico para explicar las olas de difusión de las políticas sociales. La tesis emplea un método de estudio de caso para rastrear los mecanismos causales y cómo se desarrollan en el proceso de adopción de los BIS en Colombia. La tesis concluye que la adopción de esta política social por un innovador reciente en la región se vio impulsada por varios mecanismos causales de presiones externas y normativas y aprendizaje limitado, en los que la heurística cognitiva que dio forma a la difusión de las políticas sociales en la región no funcionó como se había teorizado. Además, en grados variables, la participación de los grupos de interés nacionales se rastrea a lo largo de estos mecanismos de difusión. Estas organizaciones, por lo tanto, pueden ser agentes de transferencia de políticas al influir y defender las opciones políticas, llevar a cabo el proceso de aprendizaje de las innovaciones de política social e influir en el diseño y la prestación de los servicios sociales vinculados a dichas innovaciones.

Abstract: The objective of this thesis is to demonstrate that resilience is not a neutral and apolitical concept. For this, I focus on deconstructing the representations, values, meanings, rationalities, and references of desire embedded in discourses, images and development projects promoting resilience in the Cauca, Colombia. Based on ethnographic evidence, I argue that resilience is a discursive mechanism attached to a cultural project - modernity/coloniality- that seeks to maintain structures of power through the reproduction of colonial sociocultural hierarchies between those who are resilient, located in ‘developed’ countries, and those who are vulnerable, living in the poor periphery. Although the promotion of resilience capacities has been enhanced by the increasing feeling of risk exposure, I found that the Misak and Nasa communities have Other forms of understanding and facing crises. Based on their own cosmologies and worldviews, these communities developed the concept of pervivencia aiming to recognise their capacity and right to construct the conditions and strategies to face uncertainties and risks outside modern Eurocentric epistemology. Ignoring the existence of Other forms of thinking and being has lead development organisations to misinterpret how people face uncertainties and crises in rural areas of the Cauca. It is for this reason that I suggest that the concept of resilience does not offer the best analytical tool to analyse Misak and Nasa practices for facing risks as it cannot incorporate Other possible worlds and logics. Resumen: El objetivo de esta tesis es demostrar que la resiliencia no es un concepto neutro y apolítico. Para ello, me centro en deconstruir las representaciones, valores, significados, racionalidades y referentes del deseo incrustados en discursos, imágenes y proyectos de desarrollo que promueven la resiliencia en el Cauca, Colombia. Con base en evidencia etnográfica, sostengo que la resiliencia es un mecanismo discursivo adscrito a un proyecto cultural -modernidad/colonialidad- que busca mantener estructuras de poder a través de la reproducción de jerarquías socioculturales coloniales entre quienes son resilientes, ubicados en países ""desarrollados"", y quienes son vulnerables, que viven en la periferia pobre. Aunque la promoción de las capacidades de resiliencia se ha visto reforzada por la creciente sensación de exposición al riesgo, descubrí que las comunidades misak y nasa tienen otras formas de entender y afrontar las crisis. Basándose en sus propias cosmologías y cosmovisiones, estas comunidades desarrollaron el concepto de pervivencia con el objetivo de reconocer su capacidad y derecho a construir las condiciones y estrategias para afrontar las incertidumbres y los riesgos al margen de la epistemología eurocéntrica moderna. Ignorar la existencia de Otras formas de pensar y de ser ha llevado a las organizaciones de desarrollo a malinterpretar la forma como la gente enfrenta las incertidumbres y las crisis en las zonas rurales del Cauca. Es por esta razón que sugiero que el concepto de resiliencia no ofrece la mejor herramienta analítica para analizar las prácticas Misak y Nasa para enfrentar los riesgos, ya que no puede incorporar Otros mundos y lógicas posibles.

Abstract: Effective stakeholder engagement is vital for sustainable water management in the Bogotá River Basin, which faces serious environmental and socio-economic challenges, including water scarcity, pollution, and inequitable distribution. Engaging diverse stakeholders can promote shared decisionmaking, identify common goals, and enhance the implementation of sustainable water gov- ernance strategies. Taking this into account, this research evaluates multi-stakeholder engagement in the Bogotá River Basin in Colombia over the past 30 years to promote sustainable water man- agement in the face of current global challenges. The research methodology includes a desk-based and systematic review, as well as policy analysis using descriptive and quantitative methods. With the use of MAXQDA software, we identified 74 national, regional, and local policies focused on stakeholder engagement for water management in Colombia, which were narrowed down to 22 documents for the Bogotá River Basin. The policy analysis is based on the Organization for Economic Co-operation and Development (OECD) indicator for Principle 10 to self-assess the level of legal framework implementation and stakeholder engagement. The self-assessment pointed out that despite the strong legal background and the enhancement of stakeholder engagement via formal and informal participatory mechanisms in the first stages of policy-making, there is a lack of engagement in the evaluation and follow-up phases, leading to box-ticking mechanisms. The findings suggest that effective stakeholder engagement needs to be comprehensive in policy-making processes, especially in the evaluation and follow-up stages. Moreover, the river basin’s management can improve by making a clear disclosure about the outcomes of participatory processes. This research concludes that promoting shared decision-making, identifying common goals, and enhancing the implementation of sustainable water management strategies can greatly benefit the Bogotá River Basin. These efforts can lead to more effective and efficient use of water resources and ultimately contribute to a healthier and more sustainable environment.

Abstract: The research explores the role of regional Planning in fostering sustainable development in Colombia's diverse Pacific economic, social, and environmentally challenging context. Regional Planning is a traditional process that aims to enhance competitiveness, infrastructure connectivity between territories, and economic growth while addressing contemporary priorities like sustainable development. In response to these challenges, the Administrative and Planning Region (RAP Pacífico) in 2016 was created as a cooperative entity encompassing Pacific departments. This initiative seeks to stimulate economic and social development while overcoming financial, technical, and capacity related constraints. RAP Pacífico, through its Regional Strategic Plan, approved in 2021, departs from conventional approaches by adopting a collaborative and multidimensional strategy involving local authorities, private enterprises, and civil society. This research examines its innovative design strategies under the social innovation theory and its alignment with sustainable development goals. Moreover, the analysis sheds light on the potential of incorporating innovative elements in Planning exercises addressing complex societal challenges and aiming for regional sustainable development within the public management context, particularly in developing nations.

Abstract: Material Adverse Change clauses (MAC clauses) are contractual provisions that are usually incorporated within M&A and debt finance transactions. However, the low number of disputes that have arisen regarding the interpretation and application of such provisions have raised concerns given the uncertainty of its application and construction by the courts. Although the doctrine of good faith has been regarded as alien to English Contract Law, in this dissertation that claim is challenged by exploring other dimensions of such principle through two Civil Law jurisdictions and two recent judgements in English Law concerning MAC clauses in the context of Loan Agreements. Resumen: Las cláusulas de Cambio Adverso Sustancial (MAC, por sus siglas en inglés) son disposiciones contractuales que generalmente se incorporan en transacciones de fusiones y adquisiciones, así como en transacciones de financiamiento de deuda. Sin embargo, la baja cantidad de disputas que han surgido respecto a la interpretación y aplicación de tales disposiciones ha generado preocupación dada la incertidumbre en su aplicación y construcción por parte de los tribunales. Aunque la doctrina de la buena fe ha sido considerada ajena al Derecho de Contratos inglés, en esta tesis se cuestiona esa afirmación al explorar otras dimensiones de dicho principio a través de dos jurisdicciones de Derecho Civil y dos sentencias recientes en el Derecho inglés relacionadas con cláusulas MAC en el contexto de Acuerdos de Préstamo.

Natural Resource Revenues: An opportunity to grow? Estimating the effect of royalties on Colombian departments Abstract: Do royalties from the natural resource extraction contribute to economic growth in the Colombian context? To answer this question, this study examines the allocation and use of royalties in the 32 Colombian departments between 2005 and 2019, period that spans two different governance schemes. Using panel data analysis, it finds that from the allocation perspective, there are indications of the natural resource curse in producing departments. In terms of the returns of the investments, the results highlight issues related to the efficiency and quality of public investment in the main sectors, despite the significant contribution of the 2011 royalties’ reform to address revenues mismanagement and equity issues. These results point to imbalances in the royalties’ policy, thus contributing to inform the current debate on energy transition and future policy reforms. Resumen: ¿Contribuyen las regalías provenientes de la extracción de recursos naturales al crecimiento económico en el contexto colombiano? Para responder a esta pregunta, este estudio examina la asignación y el uso de las regalías en los 32 departamentos colombianos entre 2005 y 2019, periodo que abarca dos esquemas de gobernanza diferentes. Utilizando análisis de datos de panel, encuentra que desde la perspectiva de la asignación, hay indicios de la maldición de los recursos naturales en los departamentos productores. En términos de los retornos de las inversiones, los resultados destacan problemas relacionados con la eficiencia y la calidad de la inversión pública en los principales sectores, a pesar de la importante contribución de la reforma de las regalías de 2011 para abordar la mala gestión de los ingresos y los problemas de equidad regional. Estos resultados apuntan a desequilibrios en la política de regalías, contribuyendo así a informar el debate actual sobre la transición energética y las futuras reformas de política.

Abstract: The central aim of this research is to scrutinize the liability regime associated with environmental harm resulting from mining activities in the Area. The thesis endeavors to identify and analyze the gaps in the existing legal framework, particularly under UNCLOS. It questions whether the current standards, which are predominantly based on negligence, are sufficient for safeguarding the ecological integrity of this vital global common. The research is driven by the pressing need for an effective legal regime that aligns with the CHM principle and adequately protects the marine environment from the risks of deep-sea mining. Resumen: El objetivo central de esta investigación es examinar el régimen de responsabilidad asociado con el daño ambiental resultante de las actividades mineras en la Zona. La tesis se esfuerza por identificar y analizar las lagunas en el marco legal existente, especialmente bajo la Convención de las Naciones Unidas sobre el Derecho del Mar (UNCLOS). Se cuestiona si las normas actuales, que se basan predominantemente en la negligencia, son suficientes para salvaguardar la integridad ecológica de este vital bien común global. La investigación se impulsa por la apremiante necesidad de un régimen legal efectivo que se alinee con el principio del Patrimonio Común de la Humanidad (CHM) y proteja adecuadamente el medio ambiente marino de los riesgos de la minería en el lecho marino profundo.