On International Women’s Day, we reinforce our commitment to gender diversity and equality

The company has achieved milestones such as the approval of the first Global Equality Policy, an increase of 1.8% in the percentage of women in management positions and the definition of actions to reduce the gender pay gap.

On International Women’s Day we want to reinforce our commitment to gender diversity and equality, because we believe that we have a responsibility to transform society and to make a better and fairer world.

And this is so, not only for ethical reasons, but also for business reasons, as we are aware that, in order to respond to the challenges posed by the digital revolution, it is necessary to make the most of the skills and abilities of the best talent, foster innovation and approach an ever-changing society. For this reason, and because diversity and inclusion are part of Telefónica’s DNA, we want to ensure that everyone has a space and a place in the company.

Without a doubt, the diversity of our teams makes us stronger and more competitive, which is why we have created an inclusive work environment that respects this reality at all levels. In fact, according to our annual climate survey for 2022, 91% of our employees said they felt included in their work.

And on this journey, we continue to make steady progress to fight inequality and leave no one behind. Here are some of the milestones we have achieved recently:

• Approval by the Telefónica Board of Directors of the first edition of the Global Equality Policy, which acts as a framework for the development of the different equality plans of each of the companies that form part of the company.
• Signing, by our Chairman, of the Women’s Empowerment Principles, giving a global dimension to this alliance.
• Increase of 1.8 pp in the percentage of women in management positions, reaching 31.3% in the company in 2022. An increase that brings us closer to meeting the target of 33% in 2024.
• Definition of actions to accelerate the professional careers of our female employees, develop the pool of pre-executive talent and attract female talent to promote equality at all hierarchical levels and reduce the gender pay gap. An example of this is the Empowering Women initiative, which, aimed at all women in the company, emphasises female leadership and the keys and barriers faced by women who want to lead, bringing together approximately 250 representatives by 2022.
• Promoting the presence and visibility of women and young people in STEM careers and entrepreneurship, both inside and outside the company, through more than 100 programmes and initiatives. Some examples are Mujeres4Tech, #SheTransformsIT, Girls Love Tech or the STEAM Alliance for Female Talent, promoted by the Spanish Ministry of Education and Vocational Training.
• Promotion, together with ClosinGap, of the report “The opportunity cost of the gender gap in digital professions”, with the aim of generating the necessary knowledge and debate in society to adopt measures to correct existing inequalities.
• Joining the network of companies Yo No Renuncio por la conciliación, focusing in this case on promoting work-life balance and co-responsibility between men and women.
• Inclusion, for the sixth consecutive year, in the Bloomberg Gender-Equality Index, placing us as one of the companies most committed to equality at a global level.

All this would not have been possible without a consolidated structure of internal bodies and figures that monitor progress in equality, diversity and inclusion within the company, monitoring compliance with indicators and strategic objectives, and ensuring the involvement of senior management. In this regard, we have, among others, a Global Diversity Council and a Transparency Committee.

In terms of our guidelines, we have a global Diversity and Inclusion policy; a Diversity policy in relation to the Board of Directors and the Selection of Directors; the new Global Equality policy, approved by the Board of Directors in 2022; and the Protocol for Action in Situations of Workplace or Moral Harassment, Sexual Harassment and Discrimination.

All these milestones and initiatives show that at Telefónica we place people and values at the centre to drive our future and transformation, to grow as a company and also as a society.