Management and Sustainability (ESG) Report 2022

To make our world more human, by connecting lives

Telefónica’s Performance 2022

Summary of the Company’s mission, strategy and progress in economic, environmental, social and governance matters.

2022 Management and ESG Report

Our full integrated report in a navigable and accessible format.

Executive Summary

Our ESG highlights -strategy, progress and goals- in presentation format.

2022 ESG KPIs

Overview of main sustainability targets and KPIs according to the E, S & G pillars.

Letter from the Chairman

José María Álvarez-Pallete explains our progress to build a greener future, help society thrive and lead by example.

«People-centric digitalisation helps us to progress while respecting the limits of our planet»

Key Chapters

Strategic Vision

ESG is embedded within Telefónica’s strategy to address our mission – “to make the world more human, by connecting lives”.


Building a greener future

We work for a world where digital technology protects the planet.

  • Our targets: net-zero emissions in 2040 including the value chain and zero waste in 2030.
  • In seven years, we have reduced our Scope 1+2 carbon emissions by 80% and Scope 3 emissions by 32%.
  • We use 100% renewable electricity in Europe, Brazil, Chile and Peru.
  • We promote the circular economy through ecodesign, recycling and reuse. In 2022, we reused over 4 million units of electronic equipment.
  • 54% of our B2B services have been verified with the Eco Smart label.


Helping society thrive

We promote economic and social development based on digitization.

  • We are committed to achieving 90-97% rural coverage in our main markets in 2024. 
  • In 2022, Fundación Telefónica helped over 1 million people to improve their digital skills. 
  • According to the World Benchmarking Alliance, we lead the field in digital inclusion worldwide.
  • By 2024 we will have 33% women in executive positions; an adjusted pay gap of +/-1% and we will double the number of employees with disabilities.
  • 78% of our employees invested in new skills in 2022.


Leading by example

We follow the best good governance practices to build trust.

  • All our employees are committed to the ESG targets, which are part of their variable remuneration.
  • Over 91,000 professionals received training about our code of ethics. 
  • We are guided by the best good governance practices: independent directors make up 60% of our Board, women comprise 33% of the Board.
  • 1st telco worldwide in Ranking Digital Rights.
  • We want sustainability to represent 30-35% of the company’s financing in 2024.
  • In 2022 we performed more than 18,000 audits on suppliers.

At a glance:

Building a greener future

Helping society thrive

Leading by example

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