WWDFFR GHO JDV ILJ



$WWDFFRGHOJDV ILJ 

,OUDFFRUGRGHOJDVGHYHHVVHUHGLVSRVWRLQPRGRFKHLOUXELQHWWR

VLDDFFHVVLELOH
/ HVWUHPLWjGHOODFRQQHVVLRQHGLLQJUHVVRGHOSLDQRGLFRWWXUDD

JDVqGRWDWDGLILOHWWDWXUDGD··  PP FKHFRQVHQWH

,OFROOHJDPHQWRULJLGR

,OFROOHJDPHQWRFRQWXERIOHVVLELOHPHWDOOLFR / PLQ  P

PD[  P 

,QVHULUHODJXDUQL]LRQHGLWHQXWD  LQGRWD]LRQHIUDO XVFLWD

GHOFROOHWWRUHHLOUDFFRUGRGHOJDV
(YLWDUHLOFRQWDWWRGHOWXERFRQSDUWLPRELOLGHOO XQLWjG LQFDVVR DG

HVHPSLR XQ FDVVHWWR  H QRQ HIIHWWXDUH LO SDVVDJJLR GHOOR VWHVVR LQ

VSD]LVRJJHWWLDSRVVLELOLRVWUX]LRQL
,QTXDOVLDVLFRQQHVVLRQH QRQPXRYHUHQpJLUDUHLOJRPLWRGDOOD

SRVL]LRQHVWDELOLWDLQIDEEULFD
1HOFDVRLQFXLRFFRUUDUHDOL]]DUHXQDFRQQHVVLRQHFLOLQGULFD

VRVWLWXLUHLOJRPLWRPRQWDWRLQIDEEULFDFRQTXHOORIRUQLWRQHO

VDFFKHWWRGHJOLDFFHVVRUL ILJ D 
1RQVFRUGDUVLGLLQWHUFDODUHODJXDUQL]LRQH
: 3HULFRORGLIXJKH
6HVLPDQLSRODTXDOXQTXHWLSRGLUDFFRUGRYHULILFDUQHODWHQXWD
,OIDEEULFDQWHGHFOLQDRJQLUHVSRQVDELOLWjLQFDVRGLFRQQHVVLRQL

FKHSUHVHQWLQRIXJKHGRSRODPDQLSROD]LRQHGHOOHVWHVVH

&RQQHVVLRQHHOHWWULFD ILJ 

4XHVWRDSSDUHFFKLRqGHOWLSR´<µ,OFDYRGLLQJUHVVRQRQSXz

HVVHUH FDPELDWR GDOO XWHQWH PD VROR GDO 6HUYL]LR 7HFQLFR 2FFRUUH

LQIDWWLULVSHWWDUHLOWLSRGLFDYRHODVH]LRQHPLQLPD
, SLDQL GL FRWWXUD YHQJRQR IRUQLWL GRWDWL GL FDYR GL DOLPHQWD]LRQH FRQ

RVHQ]DVSLQDHOHWWULFD
*OLDSSDUHFFKLPXQLWLGLVSLQDGHYRQRHVVHUHFROOHJDWLVROWDQWRD

SUHVHHOHWWULFKHFRQSUHVDGLWHUUDGHELWDPHQWHLQVWDOODWH
3UHYHGHUHXQVH]LRQDWRUHRQQLSRODUHFRQDSHUWXUDGLFRQWDWWRGL

DOPHQR PP WUDQQHFKHSHULFROOHJDPHQWLDVSLQDVHO XWHQWH

SXzDFFHGHUYL 

&DPELRGHOWLSRGLJDV

6HODQRUPDWLYDGHOSDHVHORFRQVHQWHTXHVWRDSSDUHFFKLRSXz

HVVHUHDGDWWDWRDGDOWULWLSLGLJDV YWDUJDLGHQWLILFDWLYD ,

FRPSRQHQWLQHFHVVDULDTXHVWDRSHUD]LRQHVLWURYDQRQHOODERUVD

NLWGLFRQYHUVLRQHLQGRWD]LRQH DVHFRQGDGHOPRGHOOR R

GLVSRQLELOHSUHVVRLOQRVWUR6HUYL]LR7HFQLFR
,PSRUWDQWH$OWHUPLQHDSSOLFDUHO HWLFKHWWDDGHVLYDLQGLFDQGRLO

QXRYRWLSRGLJDVDFFDQWRDOODWDUJDLGHQWLILFDWLYD
3URFHGHUHFRPHLQGLFDWRGLVHJXLWR
$ 6RVWLWX]LRQHGHJOLLQLHWWRUL ILJ  



5LPXRYHUHOHJULJOLHLFRSHUFKLGHOEUXFLDWRUHHLGLIIXVRUL



6RVWLWXLUHJOLLQLHWWRULXVDQGRODFKLDYHGLVSRQLELOHSUHVVRLO

QRVWUR6HUYL]LR7HFQLFRFRGLFH SHULEUXFLDWRUL

DGRSSLDRWULSODILDPPD YHGHUHILJXUD IDFHQGRSDUWLFRODUH

DWWHQ]LRQHFKHO LQLHWWRUHQRQVLGLVWDFFKLTXDQGRWROWRRILVVDWR

DOEUXFLDWRUH
$VVLFXUDUVLGLVHUUDUOLDIRQGRSHUJDUDQWLUQHODWHQXWD
,QTXHVWLEUXFLDWRULQRQqQHFHVVDULRHIIHWWXDUHODUHJROD]LRQH

GHOO DULDSULPDULD



&ROORFDUHLGLIIXVRULHLFRSHUFKLGHLEUXFLDWRULVXLFRUULVSRQGHQWL

IXRFKL6LVWHPDUHFRUUHWWDPHQWHOHJULJOLH

% ,PSRVWD]LRQHGHOOHYDOYROHGHOJDV ILJ  



3RUWDUHODPDQRSRODGLFRPDQGRVXOOLYHOORSLEDVVR



5LPXRYHUHOHPDQRSROHGLFRPDQGRGDOOHYDOYROHGHOJDV

&RPSDUHXQDWHQXWDGLJRPPDIOHVVLELOH3UHPHUHFRQODSXQWD

GHOFDFFLDYLWHSHUDFFHGHUHDOODYLWHGLUHJROD]LRQHGHOODYDOYROD

GHOJDV
1RQULPXRYHUHPDLO DQHOORGLWHQXWD*OLDQHOOLGLWHQXWD

HYLWDQRFKHSHQHWULQRLOLTXLGLHORVSRUFRDOO LQWHUQR

GHOO DSSDUHFFKLRHYHQWXDOLWjFKHSRWUHEEHFRPSURPHWWHUQHLO

IXQ]LRQDPHQWR



5HJRODUHLOIXRFRPLQLPRJLUDQGRODYLWHGLE\SDVVFRQXQ

FDFFLDYLWHDSXQWDSLDWWD
$ VHFRQGD GHO JDV XWLOL]]DWR GDOO DSSDUHFFKLR Y WDEHOOD  DJLUH

GLFRQVHJXHQ]D
$VWULQJHUHDIRQGROHYLWLGLE\SDVV
% DOOHQWDUH OH YLWL GL E\SDVV ILQR DOOD FRUUHWWD UHJROD]LRQH GHO JDV

LQXVFLWDGDLEUXFLDWRUL
&OHYLWLGLE\SDVVGHYRQRHVVHUHVRVWLWXLWHGDXQWHFQLFR

DXWRUL]]DWR
'QRQPDQLSRODUHOHYLWLGLE\SDVV

$FFHUWDUVLFKHUXRWDQGRODPDQRSRODGLFRPDQGRWUDLOOLYHOOR

PDVVLPR H TXHOOR PLQLPR LO EUXFLDWRUH QRQ VL VSHQJD H QRQ YL VLD

ULWRUQRGLILDPPD

6H QRQ VL ULHVFH DG DFFHGHUH DOOD YLWH GL E\SDVV VPRQWDUH OD SDUWH

VXSHULRUHGHOSLDQRGLFRWWXUDILVVDWDDOUHVWRGHOSLDQRGLFRWWXUD

GDXQVLVWHPDGLYLWL3HUULPXRYHUODSURFHGHUHFRPHVHJXH



7RJOLHUHWXWWHOHJULJOLHLFRSHUFKLGHLEUXFLDWRULLGLIIXVRULHOH

PDQRSROH



5LPXRYHUHOHYLWLGHLEUXFLDWRUL



3HUULPRQWDUHO DSSDUHFFKLRLQYHUWLUHODSURFHGXUDGL

VPRQWDJJLR

1RQVPRQWDUHPDLO DVVHGHOOHYDOYROHGHOJDV )LJ  ,QFDVRGL

GDQQHJJLDPHQWR q QHFHVVDULR VRVWLWXLUH FRPSOHWDPHQWH OD YDOYROD

GHOJDV

nl

é

,QVWDOODWLHYRRUVFKULIW

9HLOLJKHLGVDDQZLM]LQJHQ

/HHVGHLQVWUXFWLHVYDQKHWDSSDUDDWDOYRUHQVRYHUWHJDDQWRWGH

LQVWDOODWLHHQKHWJHEUXLNHUYDQ
'HDIEHHOGLQJHQGLHELMGH]HDDQZLM]LQJHQVWDDQDIJHGUXNW]LMQ

VOHFKWVWHURULsQWDWLH
'HIDEULNDQWLVYULMYDQHONHYHUDQWZRRUGHOLMNKHLGLQGLHQGH

EHVFKLNNLQJHQYDQGH]HKDQGOHLGLQJQLHWQDJHOHHIGZRUGHQ
'LWDSSDUDDWPDJDOOHHQJHEUXLNWZRUGHQLQYROGRHQGH

JHYHQWLOHHUGHUXLPWHV+HWPDJQLHWZRUGHQDDQJHVORWHQRSHHQ

LQULFKWLQJYRRUGHDIYRHUYDQYHUEUDQGLQJVSURGXFWHQ
$OOHZHUN]DDPKHGHQEHWUHIIHQGHLQVWDOODWLHDIVWHOOLQJHQ

DDQSDVVLQJDDQHHQDQGHUJDVW\SHPRHWHQZRUGHQ

XLWJHYRHUGGRRUHHQEHNZDDPLQVWDOODWHXUZDDUELMDOOH

WRHSDVEDUH QRUPHQ HQ ZHWJHYLQJ HQ GH YRRUVFKULIWHQ YDQ GH

ORNDOHJDVHQHOHNWULFLWHLWVPDDWVFKDSSLMHQPRHWHQZRUGHQ

QDJHOHHIG(UZRUGWPHWQDPHJHOHWRSGHYRRUVFKULIWHQPHW

EHWUHNNLQJWRWYHQWLODWLH
9RRU GH DDQSDVVLQJ DDQ HHQ DQGHU JDVW\SH UDGHQ ZLM DDQ RP

RQ]H7HFKQLVFKH'LHQVWWHEHOOHQ
'LW DSSDUDDW LV XLWVOXLWHQG EHVWHPG YRRU KXLVKRXGHOLMN JHEUXLN +HW

LVQLHWWRHJHVWDDQKHWWHJHEUXLNHQYRRUSURIHVVLRQHOHRI

FRPPHUFwHOHGRHOHLQGHQ+HWDSSDUDDWPDJQLHWLQMDFKWHQRI

FDUDYDQVZRUGHQJHwQVWDOOHHUG'HJDUDQWLHJHOGWDOOHHQZDQQHHU

KHWDSSDUDDWRSGHMXLVWHZLM]HZRUGWJHEUXLNW
&RQWUROHHUYyyUGHLQVWDOODWLHRIGHYRRUZDDUGHQYDQORNDOH

GLVWULEXWLH FRPSDWLEHO ]LMQ PHW GH DIVWHOOLQJ YDQ KHW DSSDUDDW GLH LV

DDQJHJHYHQRSKHWJHJHYHQVSODDWMH DDUGHQGUXNYDQKHWJDV

YHUPRJHQYROWDJH 
6OXLWYyyUHONHKDQGHOLQJGHVWURRPHQJDVWRHYRHUYDQKHW

DSSDUDDWDI
'HYRHGLQJVNDEHOPRHWZRUGHQYDVWJHPDDNWLQKHWPHXEHOVWXN

RP WH YRRUNRPHQ GDW GH]H FRQWDFW PDDNW PHW GH JHGHHOWHV YDQ GH

RYHQRIYDQGHNRRNSODDWGLHZDUPZRUGHQ
$SSDUDWHQPHWVWURRPWRHYRHUPRHWHQYHUSOLFKWJHDDUGZRUGHQ
0DQLSXOHHUGHELQQHQ]LMGHYDQKHWDSSDUDDWQLHW7HOHIRQHHU

LQGLHQQRGLJRQ]H7HFKQLVFKH'LHQVW

9yyUGHLQVWDOODWLH

'LW DSSDUDDW EHKRRUW WRW NODVVH  YROJHQV GH QRUP (1  YRRU

JDVDSSDUDWHQDSSDUDDWLQJHERXZGLQHHQPHXEHO
+HWPHXEHOVWXNZDDULQKHWDSSDUDDWJHwQVWDOOHHUGZRUGWPRHWRS

GHMXLVWHZLM]HEHYHVWLJG]LMQHQVWDELHOVWDDQ
0HXEHOVGLHLQGHEXXUWYDQKHWDSSDUDDWVWDDQGHJHODDJGH

EHNOHGLQJHQHQGHOLMPZDDUPHHGH]HJHSODNW]LMQPRHWHQ

QLHWRQWYODPEDDUHQKLWWHEHVWHQGLJ]LMQ
'LWDSSDUDDWNDQQLHWJHwQVWDOOHHUGZRUGHQRSNRHONDVWHQ

ZDVPDFKLQHVYDDWZDVVHUVRIGHUJHOLMNH
'HNRRNSODDWPDJDOOHHQERYHQHHQJHYHQWLOHHUGHRYHQZRUGHQ

LQJHERXZG
:RUGWRQGHUGHNRRNSODDWHHQRYHQLQJHERXZGGDQNDQGHGLNWH

YDQKHWZHUNEODGGHPLQLPDDOYHUHLVWHGLNWHLQGH]H

JHEUXLNVDDQZLM]LQJRYHUVFKULMGHQ1HHPGHDDQZLM]LQJHQLQGH

LQVWDOODWLHKDQGOHLGLQJELMGHRYHQLQDFKW
$OVXHHQDI]XLJNDSLQVWDOOHHUWGRHGDWGDQYROJHQVGH

LQVWDOODWLHKDQGOHLGLQJHQKRXGDOWLMGGHPLQLPDOHYHUWLFDOHDIVWDQG

WRWGHNRRNSODDWDDQ ILJ  

9RRUEHUHLGLQJYDQKHWPHXEHO DIE 

%UHQJHHQLQVQLMGLQJDDQYDQGHQRGLJHDIPHWLQJHQRSKHW

ZHUNYODN
9HUQLVYRRUKRXWHQZHUNYODNNHQGHVQLMYODNNHQPHWHHQVSHFLDOH

OLMPRPGH]HWHEHVFKHUPHQWHJHQYRFKW