Colombia Telecomunicaciones S.A. ESP BIC (hereinafter Telefónica Movistar Colombia, Movistar or the “Company”), has prepared this report in accordance with the GRI Standards for the period from January 1 to December 31, 2024. This report is framed within the guidelines of Law 1901 of 2018, Decree 2046 of 2019, and Resolution 200-004394 issued by the Superintendence of Companies of Colombia, applicable to Collective Benefit and Interest Companies (BIC).
The document includes information on the Company’s financial (economic) and non-financial (environmental, social and corporate governance, ESG) management, also complying with the provisions of Articles 46 and 47 (as amended 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 items refer to other Telefónica Group entities operating in Colombia, such as Fundación Telefónica Movistar Colombia and Wayra, whose results are not reflected in the Company’s financial statements.
This report adopts the recommendations established in the ESG Reporting Guidelines for Issuers in Colombia, documenting Movistar’s management within the framework of the Global Compact Principles, the contribution to the 2030 Agenda through the Sustainable Development Goals (SDGs), and the results achieved in the Key Performance Indicators (KPI) related to credits linked to the performance of sustainability indicators agreed with financial entities.
Conventions
In this report you will find the conventions associated with the management of the activities of a BIC company prioritized by Colombia Telecomunicaciones S.A. ESP BIC and the sustainability indicators linked to Sustainable Financing.
Activity prioritized as a BIC Company in the Business Model dimension
Activity prioritized as a 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 Community Practices dimension
Sustainability indicator associated with bank credit commitments
Process for the
Preparation
of the Report
The Company considers the GRI Standards for reporting in response to the requirements as a BIC company. The Responsible Management Report includes the following stages for its preparation: preparation, collection of information, drafting, review and approval, and publication and communication.
Collection
Approval
Communication
- Preparation
The Company’s legal representative leads the preparation of the Responsible Management Report – BIC Management Report. However, he designates the Public Affairs Department and the Sustainability Coordination to advance the collection of information and drafting of the report.
- Information collection
Qualitative and quantitative information is collected and analyzed from different areas, considering commitments with the Global Compact, financial entities and other stakeholders. Tools such as Workiva and GreTel help systematize sustainability indicators. Materiality, sustainability KPIs and other commitments are also reviewed.
- Drafting
The Responsible Management Report – BIC Management Report is published annually. The information is provided in January, and once the indicators and information from the previous year have been closed, management is documented, responding to the prioritized BIC activities, the commitments made with other organizations and the principles of GRI Standards.
The report is reviewed by the management team, the Audit Committee, the Board of Directors and approved by the General Shareholders’ Meeting. It also includes audited figures from the operation in Colombia for the Telefónica S.A. Report.
- Review and Approval
The Responsible Management Report – BIC Management Report is submitted by the legal representative to the Board of Directors and is reviewed and approved by the General Shareholders’ Meeting.
- Publication and Communication
After approval, the report is published on the website and sent to entities such as the Global Reporting Initiative, the Superintendence of Companies, Global Compact and other interested parties upon request.