The ultimate party responsible for the organization’s sustainability is the Administrative Counsel through its Sustainability and Quality Committee. In this scope, its mission is to approve and monitor the Global Business Principle Plan. The Committee is made up of four Counselors, meeting periodically and whenever the Counsel requests its intervention.
At an executive level, the Global Department for Corporate Ethics and Sustainability is responsible for proposing and coordinating the strategy having to do with sustainability. This department reports to the Group General Direction of Comms, Brand, Public Affairs & Sustainability, which answers directly to the CEO and is present on the Executive Committee.
Telefónica, a pioneer company: we were one of the first Ibex 35 companies with a Sustainability Commission on the Board of Directors
Lastly, there is a horizontal organ throughout the Company, the Responsible Business Office, that is in charge of monitoring the implementation of the plan in all of the organization’s activities.
The Office brings together the heads of Compliance, Audit, Legal Services, Human Resources, Public Affairs, Corporate Ethics and Sustainability, Purchasing, Operations, Marketing, Security and Big Data.
The Business Principles Office is replicated on a national level, in almost all Telefónica operators.
In addition, in order to maintain the integrity and transparency in the management of our risks we have specific organizational units:
- Internal audit units in all countries where we hold significant interests.
- Inspection unit specialized in fraud prevention work and investigation of complaints.
- Intervention unit in the main companies payments.
- Global address and local units of sustainability.
- Corporate risk management unit, which centralizes and reports the information received from the local areas of risk management, implemented in major operations of the Group.
- Since February 2016, it has created a corporate level the figure of the Chief Compliance Officer, which reinforces and strengthens our culture of compliance.