The relationship with our stakeholders is the main basis that allows us to generate the Telefónica’s materiality matrix. They help us to identify the principle issues that we must respond, aligning our business sustainability.
To achieve our materiality we start from a specific analysis, which is specific to the entire value chain of the new technologies hypersector and is designed by the Global e-Sustainability Initiative (GeSi).
The results of analysis, together with our Company strategy, have given way to our materiality matrix, composed of 7 global issues that most concern us and we analyzed from the perspective of value chain, internal processes and customers.
Stakeholder Panel on Responsible Business
To carry out a 360º dialogue exercise and keep our materiality matrix updated, we have created a Responsible Business Advisory Panel and a broader advisory group. Both are integrated by experts in innovation, environment and social issues and are consulted on a regular basis.
This is also allowing our interest groups to interact with each other in a structured way, facilitating the monitoring of common challenges.
In these panels, both globally and locally relevant issues are discussed, paying particular attention to markets as relevant as Spain, Brazil, Mexico, Germany and Chile markets.
This panel has been possible thanks to more than 25 interviews with senior executives of the Group and the implementation of more than 1,500 online surveys in key markets.
The Panel is chaired by an independent third party, which reports to the Executive Committee of the Institutional and Regulatory Affairs Council every six months
Responsible Business Central Panel
Chaired by Marta Rey, from the University of A Coruña, the panel is composed of 16 organizations which conduct quarterly in-depth discussions on issues concerning the company.
Responsible Business Extended Panel
Throughout the year, more than 400 organizations participate in this group to assess our performance and inform us of their expectations regarding issues common to the markets in which we operate.