The society of the 21st century has called our attention to the economic value that certain concerns of ethical and reputational scope have in the medium-long term financial performance of a company. Nowadays, there is a set of actions by agencies that rate sustainability, investors, socially responsible investment funds or stock exchange indexes – which is the case of the Dow Jones Sustainability Index and FTSE4GOOD –, that highlight the value of incorporation in the business strategy of theses new issues. The financial stability of a company should not ignore the risks.
The commitment with sustainability is assumed by the European Union through the European Strategy for Sustainable Development, where the role that the private sector will have in attaining the aims of this strategy are highlighted. This document is related to the Strategy of Lisbon that aims at transforming Europe into the most competitive region in the world. In order to attain this competitiveness, the information society and social cohesion feature as two relevant variables on which plans, documents and directives which have been transferred to each Member State are developed.
In addition to the work carried out by the Governments of the Member States, the industrial associations of the economic sectors more sensitive to sustainability have been implementing a set of policies and specific measures within this area.
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PT participates actively in the set of international movements of the telecommunications sector that seek to contribute toward sustainable development. ETNO – European Telecommunications Network Operators’ Association – is an association that is distinguished for its work in the management of environmental risks. This association launched its Environmental Charter in 1996 which then in 2004 became the Sustainability Charter. PT, recognizing the importance of such initiatives signed in those same years both of them. In these documents, the main European operators commit themselves to develop and incorporate the sustainable environment and development issues within the daily business activities. As of the creation of ETNO, in 1992, PT has always been chosen as member of the Executive Committee.
PT have subscribed also the then principles of United Nations Global Compact and the Corporate Social Responsability Charter of Union Network International.
Bearing in mind the challenges of the telecommunications sector, the management of PT has also introduced the environmental and social factors in the business strategy. Therefore, the financial growth of PT was accompanied by the concern of respecting and contributing positively towards the society and the environment in a responsible manner. The Code of Ethics in effect as of 2002 presents the framework, the values which are to be preserved and a set of conduct norms which are to be followed by all workers of the group and also in their interaction with other agents.
At social level, PT has always developed a set of internal and external practices that enhance its corporate responsibility. The strong bet on the merit of co-operators reveals that the management policy of the company acknowledges the co-operators as the most valuable asset of the company.
Training is yet another area that deserves special attention. Present in the Company Agreement as a guarantee of the co-operators, PT continues to see the training of its Human Assets as a priority, with direct consequences on professional mobility and co-operator valorisation.
Externally, Portugal Telecom has a history that integrates a vast set of social responsibility practices: from the development of products for groups of handicap citizens, to the services specifically directed to the elderly and families with low income. They are examples of the responsible performance of a company that intends on taking its services to the highest number of people possible. A strong policy of cultural preservation, communitarian support and volunteership are examples that demonstrate the responsible manner how PT carries out its business. This commitment with society was visible with the creation of the PT Foundation in 2003. The aim of the Foundation is precisely to promote access to information by social groups with difficulties and by groups with special needs.
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The fundamental role of PT for the digital inclusion still has economic and social impacts. By providing the society with access to telecommunication services, PT plays the role of an engine for economy, namely through the new forms of information and education. The existence of the Universal Service, that guarantees the access to a telephone line irrespective of the place in which the citizen is, demonstrates all the effort.
The area of environmental management and the environmental impacts resulting from the activity, as well the climate changes area, are receiving a growing investment. A concern which is connected to the search for greater efficiency in the areas of energy, water and fuels, as well as for residues management. This work in the environmental area has been developed by all PT companies that, meanwhile, have their systems certified according ISO 14001.
It should also be highlighted that the services rendered by PT feature positive ecological impacts, because its activities promote, indirectly, the reduction of trips and consequently, the reduction of negative environmental impacts resulting thereof.
In addition to the environmental management that results from the activities developed by the companies, PT implemented a management system that aims at minimise the environmental impacts of its suppliers, by conplementig its environmental policies as selection criteria.