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Principles for the preparation of this Report

Telefónica presents its 2014 Sustainability Report, a document that sets out the progress achieved during the year in economic, environmental and social terms.

Telefónica hereby reports on its commitment to the following international standards:

  • The United Nations Universal Declaration of Human Rights.
  • The International Covenant on Civil and Political Rights.
  • The International Covenant on Economic, Social and Cultural Rights.
  • Convention on the Rights of the Child.
  • Convention on the Rights of Persons with Disabilities.
  • International Labour Organisation Conventions.
  • The Basel Convention (on hazardous waste).
  • The Sarbanes-Oxley Act (US).
  • ISO Standards.
  • International guidelines (ICNIRP).

Voluntary standards

Furthermore, Telefónica has voluntarily subscribed to the following standards related to CSR content and management systems:

  • The United Nations Global Compact.
  • GRI G4.
  • OECD Guidelines for Multinational Enterprises.
  • Conthe Code.
  • UN Principles for Responsible Investment (UN PRI).
  • OECD Due Di‌ligence Guidance for Responsible Supply Chains of Minerals from Conflict-Affected and High-Risk Areas.
  • Global e-Sustainability Initiative (GeSI).
  • London Benchmarking Group (LBG).
  • Low-carbon economy.
  • Collaboration with ETNO (European Telecommunications Network Operators Association), ITU (International Telecommunication Union) and GSMA (World Association of Mobile Telephone Operators).
  • Carbon Disclosure Project.
  • Autocontrol's Code of Good Advertising Practice.

This Report has been prepared in line with the general G4 'In accordance' principles, as laid out by the Global Reporting Initiative (GRI). Telefónica is using the “In accordance – Comprehensive Option” of GRI-G4. This option was subsequently subjected to external verification by EY.

Below, there is an explanation of how its standards have been applied, along with details of those which determine content and quality, and which ensure a balanced and reasonable presentation of the organisation's performance. This whole process has been carried out taking into account both the experience and purpose of Telefónica, and the usefulness for its stakeholders. In addition, the review carried out by EY has been performed in accordance with the principles defined by the AA1000AS Standard (2008), whose purpose is to "ensure the quality of the organisation's Sustainability Report and of the processes, systems and competences that serve as the basis for its implementation by the entire organisation."

Both the principles dictated by the Global Reporting Initiative (GRI) and those defined by AA1000AS (2008) are the standards which are most often compared and used in the preparation of sustainability and corporate social responsibility reports.

Principles for Determining its Content

Stakeholder participation

In the chapter, 'Interaction with stakeholders', the stakeholders are identified and an explanation is given as to how Telefónica has responded to their reasonable interests and expectations.

Context of sustainability

Telefónica contributes to the progress of the communities in which it operates and to their social and environmental sustainability, for the entire value chain: from working with our suppliers, marketing sustainable products and services, and showing respect for consumer rights.

Materiality

Those aspects which reflect the significant economic, environmental and social impact of the Company, and which substantially influence stakeholder assessments and decisions are considered. To this end, a materiality analysis at corporate, local and regional levels, has been carried out.

Completeness

Material aspects and their coverage, scope and time are indicated so as to reflect their significant effects in terms of the economy, the environment and society. Thus, stakeholders can analyse Telefónica's performance during the corresponding period.

Principles for Determining its Quality 

Balance

This testimony reflects both the positive and negative aspects of the Company's performance in order to foster a well-founded assessment.

Comparability

The information contained herein is presented in a systematic manner in order to enable stakeholders to analyse the Company's evolution and performance, so that it can be compared to that of other organisations.

Precision

This Report is precise in qualitative and quantitative terms, so that stakeholders can assess the organisation's performance.

Timeliness

This Report is presented on the occasion of the convening of the Ordinary Telefónica Shareholders' Meeting, with the purpose of adhering to the schedule so that stakeholders may have the information necessary at the meeting to be able to make informed decisions.

Clarity

The information is presented in a manner which is understandable to stakeholders who have a reasonable knowledge of the Company and its activities. Also, the information regarding indicators is presented in three-year periods.

Reliability

The contents of this Report have been subject to external review by EY, as reflected in the attached independent assessment report.

Inclusivity

This refers to the participation of stakeholders in the development and achievement of a responsible and strategic response regarding sustainability.

Relevance

By means of this, Telefónica has identified the importance of each subject to stakeholders.

Responsiveness                                                                                                                                     

This is Telefónica's reaction to the demands of its stakeholders, demonstrated by the Company's milestones achieved and challenges set in terms of sustainability.