Business Principles

Our Business Principles govern everything we do and say, they are our code of ethics. They serve as a compass for us to behave and make decisions based on integrity, commitment and transparency.

Why have principles

  • They guide us when we act as individuals as well as in teams, both within and outside the company.
  • They define how we should behave towards customers, employees, suppliers, shareholders and society in general.
  • They reflect unique, non-negotiable standards. For Telefónica, integrity means a commitment to zero tolerance of fraud and corruption.
  • The principles allow us to forge ahead with our long-term vision, helping us to be a company committed to the development of society and the care of the planet.

“Acting with integrity, commitment and transparency is at our core and helps us generate trust-based relationships”

How do we implement them?

In order to ensure that our Responsible Business Principles are the common thread running through everything we do:

  • We train our employees with a compulsory online course, which we complement with other training activities, whether online or face-to-face, to dive deeper into some principles, stressing the importance of putting them into practice.
  • We set strategic objectives in our Responsible Business Plan, approved by the Board of Directors.
  • We develop and approve corporate policies on relevant matters related to the Responsible Business Principles.

85% of our workforce have already passed the Responsible Business Principles course and the goal is to reach 100% of our employees

How do we ensure compliance?

Customers, employees, suppliers, shareholders and any other stakeholders have access to the Concern and Whistleblowing Channel on our website. This channel allows queries to be made about any matters related to the Responsible Business Principles and/or any alleged irregularities or acts that are contrary to the law or the internal regulations to be reported. The channel guarantees confidentiality and enables queries and reports to be made anonymously. At Telefónica, we diligently and respectfully follow up on any communications received, and we are committed to responding and acting, when necessary, within a reasonable period of time.

Company-wide policies

Global policies and regulations with which all employees must comply:

Human Rights

We are committed to ensuring people’s dignity.

Artificial Intelligence Principles

We were one of the first companies in the world to have ethical AI guidelines in 2018.

Integrity

At Telefónica, we have zero tolerance of corruption and bribery, and we have internal policies and procedures in place to combat them. 

Privacy

We have guidelines in place to protect personal data.

Security

We are guided by legality, efficiency, co-responsibility, cooperation and coordination.

Occupational Health, Safety and Well-being

We take care of working conditions and promote a healthy culture.

Diversity and Inclusion

We are committed to ensuring equality.

Environmental Management

We follow ISO 14:001 to protect the environment.

Energy Management

We follow environmental management principles in the field of energy.

Responsible Communications

We have communication and content generation guidelines.

Supply Chain Sustainability

We have a code of conduct for all suppliers.

Internal control

In accordance with the Principles of Responsible Business, we establish adequate controls to evaluate and manage the relevant risks for Telefónica and we coordinate the policy framework, through the supervision of the process of defining the internal policies and rules.