Statement of materiality and Significant audiences
Telia Company AB is registered in Sweden and is bound by the Swedish Companies Act (2005:551). The act requires the Board of Directors to govern the company in a way that is profitable and creates value for its shareholders. It is Telia Company’s firm belief that the best way of ensuring sustainable growth and profitability is integrating sustainable, responsible business practices into all parts of business and strategy, to create long term shared value for the company, its stakeholders and society.
Telia Company has adopted a stakeholder based approach to identify and manage the most material business aspects, including related risks and opportunities. The approach involves engaging with significant stakeholder groups to understand Telia Company’s current and future impact on its stakeholders, the environment and society. Material aspects guide how Telia Company develops and drives its business strategy, including how the company contributes to the fulfillment of the UN Sustainable Development Goals.
Significant stakeholder groups include:
- Business customers
The Annual General Meeting is the primary forum for shareholder engagement. Telia Company continuously engages with other stakeholders in many ways. See “Trends and strategy” for more information about stakeholder engagement.
Telia Company is committed to a number of international guidelines on human rights, labor rights, anti-corruption and environmental responsibility. These include:
- The UN Universal Declaration of Human Rights
- The core conventions of the International Labour Organization (ILO)
- The OECD Guidelines for Multinational Enterprises
- The UN Global Compact
- The UN Guiding Principles on Business and Human Rights
- The Children’s Rights and Business Principles
These guidelines form the foundation of the Code of Responsible Business Conduct which is approved by the Board of Directors. The requirements set by the Code, which go beyond legal compliance and apply to all employees, lay out how to engage with stakeholders in a way that ensures the highest degree of ethical business practices and behavior.
Telia Company monitors and discloses the progress on these material business aspects through this combined Annual and Sustainability Report. The group reports its financial and operational performance on a quarterly basis, and its sustainability work on a semi-annual basis.