The Company increased its budget for social initiatives last year by 23%, according to the international LBG methodology, adopted by the Group in 2007 (the figures for 2006 are not comparable to those of 2007 and 2008, since the model was not applied in that year) for purposes of better measuring and evaluating its contribution to the community. The activities were developed through:
- Fundación Telefónica, a pillar of the Company's social and cultural initiatives, which was created in 1998 and has a presence in 8 countries: Argentina, Brazil, Chile, Columbia, Spain, Mexico, Peru, and Venezuela. With some programmes it reaches 14 countries, including Ecuador, El Salvador, Guatemala, Nicaragua, Panama, and Uruguay.
- It sponsors social and cultural activities with a positive impact on society, the arts and culture. In 2008, it allotted over €32 million to around 170 initiatives.
- ATAM is a Telefónica association aimed at improving the quality of life for people with disabilities. Its model of comprehensive service includes assessment, direct economic assistance, and occupational integration for its members, 58,226 employees in total.
- Telefónica Europe carries out social activities focused above all on young people and education, to which each year it adds initiatives on health/disabilities and the environment.
Telefónica's Social and Cultural Action (investment) | |||
| LBG methodology | 2008 | 2007 | 2006 |
| Fundación Telefónica | 69,205 | 51,054 | 33,015 |
| Social and cultural sponsorships | 32,422 | 28,988 | 1,608 |
| ATAM | 9,174 | 9,069 | 8,911 |
| Social activities in Europe | 3,898 | 4,228 | 2,493 |
| Total | 114,700 | 93,339 | 46,027 |
