Business Principles

Ethical principles

Our Business Principles group together a set of guidelines which guide our day to day activities and define how to develop our business.

Approved in December 2006 and updated in May 2017, they apply to all employees and in all countries in which we operate. They are structured into some Core Principles -integrity, commitment and transparency-, which are broken down into other more specific principals in order to guarantee the trust of our clients, our staff, our shareholders, our providers and society in general.

The document "Our Business Principles" Document on PDF format is available to download.



The Office for Business Principles

In order to make known the Principals and oversee their implementation, at Telefónica we have a global Office and Business Principles Offices in the our main markets. The following departments are represented: Sustainability, Human Resources, Operations, Procurement, Audit, Legal, and Marketing. This body reports to the Board of Directors via the Regulation and Institutional Affairs Committee.


Confidential Channel

A confidential help channel allows our staff to request guidance and ask questions associated with compliance with the Operational Principals, especially when they observe cases of non-compliance. Providers and other interested parties can also access the confidential channels through the portals set up for relations with different groups of interest.

All communications are handled confidentially, thoroughly, rationally, in order to make any decisions and with respect for the persons involved.



At Telefónica we transmit our Business Principles to all of our professional staff by means of an obligatory online training course. This training serves to reflect on the importance of having ethical standards in the Group which help us in developing our day to day activities.

More information can be found at Responsible Business