Management and Sustainability (ESG) Report 2023

To make our world more human, by connecting lives

Telefónica’s Performance 2023

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

2023 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.

2023 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.

«Being a sustainable company is critical for the future of our business»

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.
  • We have reduced our Scope 1+2 carbon emissions by 81% since 2015 and Scope 3 by 31% since 2016.
  • We use 100% renewable electricity in Europe, Brazil, Chile and Peru.
  • We promote the circular economy through ecodesign, recycling and reuse. In 2023, we reused over 4 million units of electronic equipment.
  • 52% 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% mobile broadband coverage in rural areas in our main markets by 2024. 
  • In 2023, 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 double the number of employees with disabilities and by 2027, we will have 37% women in executive positions.
  • 70% of our employees invested in new skills in 2023.


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 92,400 professionals received training about our code of ethics. 
  • We are guided by the best good governance practices: independent directors make up 67% of our Board, women comprise 40% of the Board.
  • 1st telco worldwide in Ranking Digital Rights.
  • We want sustainability to represent around 40% of the company’s financing in 2026.
  • In 2023 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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