Colombia Telecomunicaciones S. A. ESP BIC, hereinafter Movistar, has prepared this report in accordance with the GRI Standards for the period from January 1, 2023, to December 31, 2023, and within the framework of Law 1901 of 2019, Decree 2046 of 2019 and Resolution 200-004394 of the Superintendence of Companies of Colombia applicable to Benefit and Collective Interest Companies (BICs).
This Report includes financial (economic management) and non-financial (Environmental, Social and Governance – ESG) management, and also complies with articles 46, 47 (modified by article 1 of Law 603 of 2000), article 446 of Law 222 of 1995 (Colombian Commercial Code), and article 87 of Law 1876 of 2013.
Some chapters include mentions of other companies that are part of the Telefónica Group and operate in Colombia, such as Telefónica Colombia Foundation and Wayra, whose results are not included in the financial statements.
This Report incorporates the recommendations given in the Guide for the Preparation of ESG Reports for Issuers in Colombia and accounts for the management carried out by the Company within the framework of the Global Compact Principles, as well as the contribution to the 2030 Agenda with the Sustainable Development Goals (SDGs), and the results of the Key Performance Indicators (KPIs) selected for the loans linked to the performance of sustainability indicators entered into with financial institutions.
Conventions
Throughout this Report, you will find the conventions associated with the management of the BIC Company’s activities prioritized by the Company and the sustainability indicators linked to the loans.
Activity prioritized as a BIC Company in the Business Model dimension
Activity prioritized as BIC Company in the Corporate Governance dimension
Activity prioritized as a BIC Company in the Labor Practices dimension
Activity prioritized as a BIC Company in the Environmental Practices dimension
Activity prioritized as a BIC Company in the Practices with the Community dimension
Sustainability indicator associated with commitments with bank loans
Process for the
preparation of the Report
The Responsible Management Report includes the following stages for its preparation:
preparation, information collection, writing, review and approval, and publication and communication.
Preparation
The Company considers the GRI Standards to report, responding to the requirements as a BIC Company.
The Company’s Legal Representative leads the preparation of the Responsible Management Report – BIC Management Report; however, they designate the Public Affairs Department and the Sustainability Coordination to advance the information collection and construction of the Report.
Information Collection
Taking into account that the Report is prepared with GRI Standards and aims to respond to commitments such as, for example, with the Global Compact, financial entities, and other stakeholders, the qualitative and quantitative information of the company’s areas is reviewed. The company has platforms such as Sygris and GreTel that systematize several of the sustainability indicators. The materiality is previously reviewed, of the activities prioritized as a BIC company, of the sustainable KPIs linked to the credits, and of the other commitments acquired to comply with these.
Construction
- GRI Contents 2-3, 2-5
The Responsible Management Report – BIC Management Report has an annual periodicity. Information is provided in January, and once the indicators and information of the immediately preceding year have been closed, the management is documented, responding to the prioritized BIC activities, commitments made with other organizations, and the GRI Standard principles.
This Report is reviewed by the Company’s Management Team, headed by the President, also by the Audit Committee, the Board of Directors and submitted for approval to the General Meeting of Shareholders. It includes figures reported by the operation in Colombia for the Telefónica S.A. Report, which is audited by the PwC Contadores y Auditores Ltda. firm.
Review and Approve
The Responsible Management Report – BIC Management Report is presented by the Legal Representative for review by the Board of Directors and is reviewed and approved by the General Meeting of Shareholders.
Publish and Communicate
With the approval of the Report by the governance bodies, it is then published on the website. Likewise, it is sent to the Global Reporting Initiative and the Superintendence of Companies.