© 2014, Pontificia Universidad Javeriana. All rights reserved. The Grupo EPM is experiencing a remarkable change in its strategy of social responsibility. The aim of this paper is to analyses the relationship between the strategy change and the political stance of the company in the hydropower Río Grande II area of influence in Colombia. Social responsibility is assumed theoretically as a corporate sustainability initiative. An exploratory case study is adopted. Results suggest that the corporation seeks a more central position in the relationship with the State and the local community. The relationship with the State is oriented towards the collective construction of territory, and with the local community is desired to be more participatory. This new corporative stance leads to still unexplored processes where costs and benefits are shared with the State and the community.