Responsible Management Report 2020
About this report
Annually, Colombia Telecomunicaciones S.A. E.S.P (hereinafter “the Company” or “Telefónica Movistar Colombia”) prepares the responsible management report to inform its stakeholders about its financial and non-financial management the previous year.
About Movistar Colombia
Colombia Telecomunicaciones S.A. E.S.P. operates under the trademark Movistar. It is a joint-stock and mixed company, with the Colombian Government –Ministry of Finance and Public Credit– holding a 32.49984282% share and Telefónica Hispanoamérica S.A. holding a 67.49937427% share.
Governance
At its ordinary session on March 27, 2014, the General Shareholders’ Meeting approved the Corporate Governance Code, through which it acquired the commitment to all its stakeholders to meet the highest corporate governance standards.
Context
“The COVID-19 crisis has deeply affected the societies where we operate. The Company’s mission (To make our world more human, connecting people’s lives) has become more relevant than ever.
Regulatory Activity
During 2020, the Communications Regulation Commission continued to study and analyze Claro’s dominance in the mobile services market (voice and data plans).
Management 2020
The Company permanently monitors the most significant risks that could affect the achievement of its objectives. For this, and as part of the Telefónica Group, it has a Risk Management Model based on COSO (Committee of Sponsoring Organizations, of the Treadway Commission) that facilitates both the identification and the evaluation of the impact and the probability of occurrence of the different risks.
Movistar, ally of the Sustainable Development of Colombia
We choose to be increasingly trustworthy, challenging and open to create sustainable value and grow while contributing to the digital development of other sectors. We generate opportunities for people, companies and local institutions.
Fundation Telefónica Movistar
The Foundation works to reduce the educational gap and provide quality training to children and young people from vulnerable backgrounds.
