)UDQoDLV7UDGXFWLRQjSDUWLUGXPRGHGHPSORLGRULJLQH
)5
(1 '( (6 ,7 37 1/ 69 '$ 12 ), +8 &6 58 52 3/ 6/ +5 (7 /7 /9 6. %*
Q 5DQJH]YRWUH RXWLO GDQV XQ HQGURLW VHF VLWXp HQ
KDXWHXURXIHUPpjFOpSRXUpYLWHU WRXWH XWLOLVDWLRQ
DEXVLYHRXWRXWHQGRPPDJHPHQW9HLOOH] j FH TXH
YRWUHRXWLOVRLWUDQJpKRUVGHSRUWpHGHVHQIDQWVHW
GHVSHUVRQQHVLQH[SpULPHQWpHV
Q 5HPHWWH]OH IRXUUHDX GH SURWHFWLRQ GH OD ODPH HQ
SODFHORUVTXHYRXVQXWLOLVH]SDVOHWDLOOHKDLHV
Q 1HSORQJH] YRWUH RXWLO GDQV GH OHDX RX GDQV WRXW
DXWUHOLTXLGHRXQHODVSHUJH]SDV9HLOOH] j FH TXH
OHVSRLJQpHVVRLHQWWRXMRXUVVqFKHVSURSUHVHWVDQV
GpFKHWGHFRXSH1HWWR\H]YRWUHRXWLODSUqVFKDTXH
XWLOLVDWLRQ5HSRUWH]YRXVDX[FRQVLJQHVGHODVHFWLRQ
5DQJHPHQWGXWDLOOHKDLHV
Q $VVXUH]YRXV TXH OHV SLqFHV GH ORXWLO VRQW
FRUUHFWHPHQWVHUUpHVDYDQWGHOHWUDQVSRUWHU
Q &RQVHUYH] FHV LQVWUXFWLRQV &RQVXOWH]OHV
UpJXOLqUHPHQWHWXWLOLVH]OHVSRXULQIRUPHUGDXWUHV
XWLOLVDWHXUVpYHQWXHOV6LYRXVSUrWH]FHWDLOOHKDLHV
SUrWH]pJDOHPHQWFHPDQXHOGXWLOLVDWLRQ
5e3$5$7,216
Q /HV UpSDUDWLRQV GRLYHQW rWUH HIIHFWXpHV SDU XQ
WHFKQLFLHQTXDOLILp/¶HQWUHWLHQ RX OHV UpSDUDWLRQV
UpDOLVpHVSDUGHVSHUVRQQHVQRQTXDOLILpHVHQWUDvQHQW
GHV ULVTXHV GH EOHVVXUHV FRUSRUHOOHV JUDYHV RX
GHQGRPPDJHPHQWGHORXWLO/HQRQUHVSHFWGHFHWWH
FRQVLJQHUHQGYRWUHJDUDQWLHQXOOHHWFDGXTXH
Q /RUVGH OHQWUHWLHQ VHXOHV GHV SLqFHV GH UHFKDQJH
GRULJLQH GRLYHQW rWUH XWLOLVpHV 5HVSHFWH] OHV
LQVWUXFWLRQVILJXUDQWGDQVODVHFWLRQ(QWUHWLHQ GH FH
PDQXHO9RXVpYLWHUH]DLQVLOHVULVTXHVGHEOHVVXUHV
FRUSRUHOOHVJUDYHVRXOHVULVTXHVGHQGRPPDJHPHQW
GHORXWLO/HQRQUHVSHFWGHFHWWHFRQVLJQHUHQGYRWUH
JDUDQWLHQXOOHHWFDGXTXH
Q ,OQHVW SDV SRVVLEOH GH UHPSODFHU OHV GHQWV GH OD
ODPHLQGLYLGXHOOHPHQWHQFDVGHEHVRLQUHPSODFH]
ODODPHGDQVVRQLQWpJUDOLWp
&216,*1(6 '( 6e&85,7e 63e&,),48(6 $8;
287,/66$16),/
Q $VVXUH]YRXVTXHOLQWHUUXSWHXUHVWHQSRVLWLRQDUUrW
RXYHUURXLOOpDYDQWGLQVpUHUODEDWWHULH/LQVHUWLRQ
GXQHEDWWHULHGDQV XQRXWLOHQSRVLWLRQPDUFKHSHXW
SURYRTXHUGHVDFFLGHQWV
Q 1HUHFKDUJH] OD EDWWHULH GH YRWUH RXWLO TXDYHF OH
FKDUJHXULQGLTXpSDUOHIDEULFDQW8QFKDUJHXUDGDSWp
jXQFHUWDLQW\SHGHEDWWHULHSHXWGpFOHQFKHUXQ
LQFHQGLHVLOHVWXWLOLVpDYHFXQDXWUHW\SHGHEDWWHULH
Q 6HXOXQ W\SH GH EDWWHULH VSpFLILTXH GRLW rWUH XWLOLVp
DYHFXQRXWLOVDQVILO/XWLOLVDWLRQGHWRXWHDXWUH
EDWWHULHSHXWSURYRTXHUXQLQFHQGLH
Q /RUVTXHOD EDWWHULH QHVW SDV XWLOLVpH PDLQWHQH]OD
pORLJQpHGREMHWVPpWDOOLTXHVWHOVTXHGHVWURPERQHV
SLqFHVGHPRQQDLHFOpVYLVFORXVRXWRXWDXWUHREMHW
VXVFHSWLEOHGHFRQQHFWHUOHVFRQWDFWVHQWUHHX[
/HFRXUWFLUFXLWDJHGHVFRQWDFWVGHODEDWWHULHSHXW
SURYRTXHUGHVEUOXUHVRXGHVLQFHQGLHV
Q eYLWH]WRXWFRQWDFWDYHFOHOLTXLGHGHEDWWHULHHQFDV
GHIXLWHGHODEDWWHULHGXHj XQH XWLOLVDWLRQ DEXVLYH
6LFHODVHSURGXLWULQFH]OD]RQHWRXFKpHjOHDX
FODLUH6LYRV\HX[VRQWDWWHLQWVFRQVXOWH]pJDOHPHQW
XQPpGHFLQ/HOLTXLGHSURMHWpGXQHEDWWHULHSHXW
SURYRTXHUGHVLUULWDWLRQVRXGHVEUOXUHV
Q'pEUDQFKH]YRWUHRXWLORXUHWLUH]ODEDWWHULHGHORXWLO
DYDQWGHSURFpGHUjGHVUpJODJHVGHFKDQJHUGHV
DFFHVVRLUHVRXGHUDQJHUORXWLO9RXV UpGXLUH] DLQVL
OHVULVTXHVGHGpPDUUDJHLQYRORQWDLUHGHORXWLO
$9(57,66(0(17
6LOPDQTXHXQHSLqFHQXWLOLVH]SDVYRWUH RXWLO
DYDQWGHYRXVrWUHSURFXUpODSLqFHHQTXHVWLRQ
/HQRQUHVSHFWGHFHWWHFRQVLJQHSHXWHQWUDvQHU
GHVEOHVVXUHVFRUSRUHOOHVJUDYHV
&216(59(= &(6 &216,*1(6 &2168/7(=
/(6 5e*8/,Ê5(0(17 (7 87,/,6(=/(6 3285
,1)250(5'$875(687,/,6$7(856e9(178(/6
6,928635Ç7(=&(7287,/35Ç7(=e*$/(0(17
&(0$18(/'87,/,6$7,21