Factores Ambientales de La Empresa

 

Botb mf ocestgtuogÿe mfh prcyfotc BO]B MF OCE_]G]VOGßE MFH PZCWFO]C PZCWFO]C PB]ZCOGEBMCZ

Butclbtgzbogÿe mf Fvbpcrbmcrfs y Ohbrgagobogÿe mf Nbrbjf GEIFEGC OBZLFHG]B _.B.

AFODB MF GEGOGC>

ZFQG_BMC PCZ>

Fqugpc> Ncsç Efgzfr Phbzb, Bemrfs Fmfrsce Iubqufz ]rfnc. Irupc mf fstumgbetfs mfh ârfb mf ifstgÿe mf hcs ocstcs mfh prcyfotc (Fspfogbhgzbogÿe mf Ifstgÿe mf Prcyfotcs) HGIGB LGHFEB LCHBEC LCEZCW

BPZCJBMC PCZ>

HGIGB LGHFEB LCHBEC LCEZCW

PZFPBZBMC PCZ>

JZFQF MF_OZGPOGßE MFH PZCMVO]C C _FZQGOGC MFH PZCWFO]C Hb flprfsb Geifegc Obrlfhgtb _.B. fs ueb flprfsb bircgemustrgbh quf sf mfmgob bh prcofsblgfetc mf obòb mf bzþobr y b hb prcmuoogÿe y oclfrogbhgzbogÿe mf bzþobr y mfrgvbmcs oce ueb fxofhfetf fxofhfetf obhgmbm, fe jusob mf sbtgsabofr hbs efofsgmbmfs y fxpfotbtgvbs mf hcs ohgfetfs, lfmgbetf hb ifefrbogÿe mf vbhcr birfibmc pbrb hcs boogcegstbs, ochbjcrbmcrfs y hb ocluegmbm mfh ârfb mf geahufeogb, prcourbemc prfsfrvbr fh lfmgc bljgfetf. Fh prfsfetf prcyfotc jusob butclbtgzbr, b trbvçs mf ue MO_ (_gstflb mf Ocetrch Mgstrgjugmc) fxgstfetf, jbnc ue orgtfrgc Ohgfetf/_frvgmcr, hcs prcofscs mf Fvbpcrbogÿe y Ohbrgagobogÿe mf Nbrbjf. Oce fhhc, sf jusob tfefr ue lfncr ocetrch mf hbs cpfrbogcefs mf sus vbrgbjhfs mf prcofsc y tfefr lfncrfs rfemglgfetcs dbogb sus ohgfetfs getfrecs. Bh agebhgzbr fh prcyfotc, fh Ârfb mf Fvbpcrbogÿe y Ohbrgagobogÿe mf Nbrbjf ocetbrâ oce : Fstbogcefs mf Cpfrbogÿe (POs), ofetrbhgzbemc tcmc fh prcofsc fe 4 pbetbhhbs, mcemf fh usubrgc agebh pcmrâ dbofr fh lcegtcrfc, ocetrch y rfigstrc mf dgstÿrgocs, mf tcmbs sus vbrgbjhfs mfh prcofsc, mfsmf hb fetrbmb mf nuic ohbrgagobmc dbstb hb sbhgmb mf nbrbjf ohbrgagobmc.

CJNF]GQC_ F_]ZB]ÇIGOC_ F_]ZB]ÇIGOC _ MF HB

PZCPß_G]C MFH PZCWFO]C

CZIBEG^BOGßE 

Prcmuogr bzþobr oce fstâembrfs mf obhgmbm quf sbtgsabibe hbs



Cpfrbogÿe ocetgeþb y uegacrlf. Oce fh sgstflb getfirbh mf ocetrch sf fvgtbe ocstcsbs pbrbmbs bh lbetfefrsf ocetgeublfetf jbhbeofbmb hb

 

fxpfotbtgvbs mf hcs

fvbpcrbogÿe oce rfspfotc b hb obetgmbm mf nuic y vbpcr mgspcegjhfs.

ohgfetfs.  

Zfmuogr ocstcs fe

Lfncr trbjbnc fe fh prcofsc sgiugfetf (Orgstbhgzbogÿe). Bh tfefr ueb lfhbmurb mf Jrgx

prcofscs mf

ocestbetf, sf lfncrb tbljgçe fh trbjbnc mf hcs

abjrgobogÿe,

Orgstbhgzbmcrfs, pbrb tfefr lbycr prcmuoogÿe mf bzþobr.

mfstghbogÿe y



Lfncr supfrvgsgÿe. Hb cpfrbogÿe mfh prcofsc mf

ifefrbogÿe mf

Fvbpcrbogÿe y Ohbrgagobogÿe mf nbrbjf oce

fefriìb.

gestrulfetcs butclâtgocs, ecs pfrlgtf cjtfefr irâagocs mf hbs ocemgogcefs mf cpfrbogÿe quf



Lbetfefr hb

sce mf irbe vbhcr fe lfncrbr fh ocetrch mf prcmuoogÿe.

gearbfstruoturb bmfoubmb, quf pfrlgtb hb cpfrbogÿe ocetgeub y fagogfetf mf hcs prcofscs abjrghfs.

CJNF]GQC_ MFH PZCWFO]C 

Fh cjnftgvc mfh prcyfotc fs butclbtgzbr, b trbvçs mf ue MO_ (_gstflb mf Ocetrch Mgstrgjugmc) fxgstfetf, jbnc ue orgtfrgc Ohgfetf/_frvgmcr, hcs prcofscs mf Fvbpcrbogÿe y Ohbrgagobogÿe mf Nbrbjf mfh prcyfotc Geifegc Obrlfhgtb _.B. Hcs orgtfrgcs mf çxgtc mfh prcyfotc b trbvçs mf hcs oubhfs sf mfsbrrchhb fstf cjnftgvc y pfrlgtfe vbhcrbr fh çxgtc mfh prcyfotc sfrâe hbs sgiugfetfs>



Pcefr fe lbrodb fh _gstflb mf Ocetrch, oce ue prfsupufstc lâxglc mf $417,000.000 (Codcogfetcs sfsfetb y eufvf lghhcefs mf pfscs)



Agebhgzbr fh prcyfotc fe ue lâxglc mf 2: lfsfs b pbrtgr mf hb afodb mfh Botb mf Ocestgtuogÿe mfh Prcyfotc.



 Bmqugrgr y lcetbr mcs (0:) ]bjhfrcs mf Ocetrch, Ocetrch, mcs (0:) POs gemustrgbhfs y ue (02) _gstflb mf Ocetrch Ohgfetf-_frvgmcr pbrb hb butclbtgzbogÿe mf Fvbpcrbmcrfs y Ohbrgagobogÿe mf Nbrbjf.



Fetrfibr fh prcyfotc agebhgzbmc, oulphgfemc oce tcmc hc quf sf mgspusc fe fh

 

Fxpfmgfetf ]çoegoc mf hgogtbogÿe y vbhgmbmc pcr hb pbrtf getfrfsbmb ABO]CZF_ OZÌ]GOC_ MF ÇTG]C MFH PZCWFO]C (stbkfdchmfrs). 

Prcofsc mf bmqugsgogÿe mf fqugpblgfetc y scatwbrf mfetrc mf hcs phbzcs fstbjhfogmcs y hbs obrbotfrìstgobs rfqufrgmbs.

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

Mgsfòc mf scatwbrf bocrmf b hcs rfqufrglgfetcs mf hb pbrtf getfrfsbmb (stbkfdchmfr). Lcetbnf mf gestrulfetcs mf oblpc y obebhgzbogÿe mf objhfbmc fhçotrgoc, bocrmf b hcs rfqufrglgfetcs mf hb pbrtf getfrfsbmb (stbkfdchmfr).



Pfrscebh mfh ârfb mf Fvbpcrbogÿe y Ohbrgagobogÿe mf Nbrbjf obpbogtbmc pbrb hb cpfrbogÿe mf fstcs fqugpcs.

ZFRVFZGLGFE]C_ ZFRVFZGLGFE] C_ MF BH]C EGQFH 

Fh _gstflb mf Ocetrch mfjfrâ sfr mfh abjrgobetf _gflfes ‟ Bhflbegb y hb Gestrulfetbogÿe mf oblpc mfh abjrgobetf _lbr-Jrbsgh, mf boufrmc bh fstâembr



mfh Irupc Ihcrgb. Fh prcmuotc> Mcs Fstbogcefs mf Cpfrbogÿe, Ve ]bjhfrc oce Pfrgafrgb Mgstrgjugmb y fh _catwbrf gestbhbmc, mfjfe getfirbrsf bh _gstflb mf Ocetrch Mgstrgjugmc (MO_) fxgstfetf mf hb flprfsb. FT]FE_GßE W BHOBEOF MFH PZCWFO]C

AB_F_ MFH PZCWFO]C Absf G Ifstgÿe mfh prcyfotc

PZGEOGPBHF_ FE]ZFIBJHF_ 

Prcofscs mf gegogbogÿe



Prcofsc mf phbegagobogÿe

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Prcofscs mf fnfouogÿe

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Prcofsc mf sfiuglgfetc y ocetrch

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Prcofsc mf ogfrrf Phbec mf brqugtfoturb mf rfm botubh



 Zfmgsfòc mf phbec mf brqugtfoturb mf rfm



Absf GG ‟ Mgsfòc

bprcjbmc 

Phbec mf ocetrch PGM ‟ Phbe Lbfstrc mf  Butclbtgzbogÿe



Phbec mf ocetrch PGM bprcjbmc

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Hgstbmc mf sfòbhfs fhçotrgobs bprcjbmbs



Hgstbmc mf dbrmwbrf y scatwbrf bprcjbmcs

 

Absf GGG



Fqugpcs bmqugrgmcs

Zfqufrglgfetc mf



_frvgogcs bmqugrgmcs

bmqugsgogÿe



Phbecs



Lcetbnf y ujgobogÿe mf fqugpblgfetc fe oblpc



_catwbrf gestbhbmc y oceagiurbogÿe fe sbhb mf

Absf GQ - Glphflfetbogÿe

 

ocetrch 

]femgmc mf agjrb ÿptgob, ftdfreft y prcagjus MP obebhgzbmc

Absf Q ‟ Brrbequf mfh sgstflb



]femgmc fhçotrgoc mfsmf gestrulfetcs mf oblpc



y OOLs obebhgzbmc Oclgsgceblgfetc

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Pufstb fe lbrodb

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Absf QG ‟

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Cpfrbogÿe bsgstgmb Geacrlf mf prufjbs mfh sgstflb mf ocetrch bprcjbmc

]çrlgec mf cjrb 

Phbecs fhçotrgocs agebhfs mfh lcetbnf mf gestrulfetbogÿe y bocemgogceblgfetc mf lctcrfs



Geacrlf mf lcegtcrfc mfh prglfr lfs mf

cpfrbogÿe. GE]FZF_BMC_ OHBQF_

GE]FZF_BMC_ GE]FZEC_ Ifrfeogb Ifefrbh  Boogcegstbs

GE]FZF_BMC_ FT]FZEC_ Prcvffmcrfs mf dbrmwbrf y scatwbrf Prcvffmcrfs mf PHOs, Gestrulfetcs y Lcetbnf Fhçotrgoc

Hìmfr mf prcyfotc

Prcvffmcr Getfrebogcebh

Nfaf mf oclprbs

Prcvffmcr ebogcebh

Nfaf mf prfsupufstc

Ocetrbtgstbs

Nfaf mf mfpbrtblfetc fhçotrgoc

Ocesulgmcr 

 

Nfabturb Nfabt urb mf Gestr Gestrulfet ulfetbogÿe bogÿe y Butclbtgzbogÿe

Ohgfetfs

Nfaf mf prcmuoogÿe

Flprfsb Prgvbmb

Nfaf Nfaf mf Mf Mfpb pbrt rtbl blfe fetc tc mf Fvbpcrbogÿe.

Icjfrebogÿe M Mf fpbrtblfetbh

Nfaf m mf fL Lb betfeglgfetc

Bhobhmìb l lu uegogpbh

_upf _u pfrv rvgs gscr cr mf sfiu sfiurg rgmb mbm m y sbhum fe fh trbjbnc.

ZGF_IC_ 

Mflcrbs fe fh prcofsc mf Bmqugsgogÿe mf Fqugpcs y Dfrrblgfetbs.

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Lbhb obhgmbm mf hcs fqugpcs y dfrrblgfetbs bmqugrgmcs.

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Prcjhflbs oce hb ibrbetìb mf hcs fqugpcs.

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Ec ocetbr oce hcs suagogfetfs rfourscs agebeogfrcs bsgiebmcs bh Prcyfotc.

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Mflcrbs fe hcs pbics b prcvffmcrfs. Fh scatwbrf ec oufetf oce hbs obrbotfrìstgobs fxgigmbs pcr hbs pbrtfs getfrfsbmbs.

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Ec ocetbr oce pfrscebh obpbogtbmc pbrb hb cpfrbogÿe mf hcs fqugpcs mfh ârfb mf Fvbpcrbogÿe y Ohbrgagobogÿe mf Nbrbjf. 

Geoulphglgfetc fe hb fetrfib pcr pbrtf mf hcs prcvffmcrfs.

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Mflcrbs fe hb gestbhbogÿe mfh scatwbrf y fqugpcs pcr pbrtf mfh prcvffmcr.

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Geogmfetfs c boogmfetfs murbetf hb ocestruoogÿe c fh lcetbnf mf fqugpcs.

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 Bhzb mfh prfogc mf hcs fqugpcs mfjgmc b hb ahuotubogÿe ahuotubogÿe mfh mÿhbr.

 



Ec oulphgr oce fh tgflpc fstgpuhbmc pbrb hb glphflfetbogÿe mfh prcyfotc.



Ec oulphgr oce fh bhobeof mfh prcyfotc

DG]C_ PZGEOGPBHF_ MFH PZCWFO]C 



 Bprcjbogÿe mfh mcoulfetc mf brqugtfoturb Fh gegogc mf hb ftbpb mf glphflfetbogÿe mfjf mbrsf, b lâs tbrmbr, b hcs trfs lfsfs y lfmgc mfspuçs mf dbjfr gegogbmc fh prcyfotc



Fh pfrscebh quf trbjbnbrâ fe hb cpfrbogÿe mf fstcs fqugpcs, mfjfe fstbr 200% obpbogtbmcs, ueb sflbeb betfs mfh gegogc mf hb cpfrbogÿe mf fstf sgstflb. PZF_VPVF_]C MFH PZCWFO]C

Fh prfsupufstc tctbh mfh prcyfotc ocrrfspcemf b hb sulb mf $417,000.000 CODCOGFE]C_ _F_FE]B W EVFQF LGHHCEF_ MF PF_C_ L/O]F, ocstc bsulgmc pcr fh GEIFEGC OBZLFHG]B _.B

IFZFE]F B_GIEBMC BH PZCWFO]C FRVGPC MF ]ZBJBNC> Ncsç Efgzfr Phbzb, Bemrfs Fmfrsce Iubqufz ]rfnc. Irupc mf fstumgbetfs mfh ârfb mf ifstgÿe mf hcs ocstcs mfh prcyfotc (Fspfogbhgzbogÿe mf Ifstgÿe mf Prcyfotcs)

BV]CZG^BOGßE BO]B PB]ZCOGEBMCZ> GEIFEGC OBZLFHG]B _.B.  BV]CZGMBM B_GIEBMB> B_GIEBMB>

ABO]CZF_ BLJGFE]BHF_ MF HB FLPZF_B _ce ocemgogcefs fxtfrebs quf geahuyfe mf lbefrb pcsgtgvb y efibtgvb fe hb fnfouogÿe mfh prcyfotc, fstcs pufmfe hhfibr b rfstrgeigr, lcmgagobr, f geohusc hhfibr b mftfrlgebr su çxgtc c arbobsc. Fetrf hcs abotcrfs bljgfetbhfs quf geahuyfe mf lbefrb sgiegagobtgvb hb phbegagobogÿe mfhb ifstgÿe mf ocstcs sf feoufetrbe>

 

Hb ouhturb y hb fstruoturb mf hb cribegzbogÿe Hbs ocemgogcefs mfh lfrobmc

Hbs tbsbs mf obljgc mf mgvgsbs Hb geacrlbogÿe oclfrogbh pujhgobmb> hgstbs mf prfogcs pujhgobmbs pcr hcs prcvffmcrfs. Fh sgstflb mf geacrlbogÿe pbrb hb mgrfoogÿe mf prcyfotcs, quf prcpcrogceb mgafrfetfs pcsgjghgmbmfs pbrb hb ifstgÿe mf hcs ocstcs. Hbs mgafrfeogbs mf prcmuotgvgmbm fe mgafrfetfs pbrtfs mfh luemc, quf pufmfe tfefr  irbe geahufeogb fe fh ocstc mf hcs prcyfotcs. Pbrb hb phbegagobogÿe mf hb ifstgÿe mf hcs ocstcs mfh prcyfotc Geifegc Obrlfhgtb _.B sf fxpcef hÿs sfiugfetfs abotcrfs bljgfetbhfs>

Ouhturb y Fstruoturb mf hb Cribegzbogÿe LG_GßE Geifegc Obrlfhgtb _.B. fs ueb flprfsb bircgemustrgbh mfmgobmb bh prcofsblgfetc mf obòb mf bzþobr y b hb prcmuoogÿe y oclfrogbhgzbogÿe mf bzþobr y mfrgvbmcs mf fxofhfetf obhgmbm, qufjusob sbtgsabofr hbs efofsgmbmfs y fxpfotbtgvbs mf hcs ohgfetfs, lfmgbetf hb ifefrbogÿe mf vbhcr birfibmc pbrb hcs boogcegstbs, ochbjcrbmcrfs y hb ocluegmbm mfh ârfb mf geahufeogb, prcourbemc prfsfrvbr fh lfmgc bljgfetf.

QG_GßE Pbrb fh bòc :0:: sf dbjrâ hcirbmc fe fh Geifegc Obrlfhgtb quf bh lfecs fh ?6% mf hcs geirfscs sf ifefrfe pcr vbhcrfs birfibmcs mf hcs prcmuotcs y sujprcmuotcs botubhfs mfrgvbmcs mf hb obòb mf bzþobr lfmgbetf hb botubhgzbogÿe mf hb gearbfstruoturb tçoegob y cpfrbtgvb bocrmf oce hcs bvbeofs tfoechÿigocs; boclpbòbmcs mfh mfsbrrchhc, oclpftfeogb y sfetgmc mf pfrtfefeogb mf eufstrc rfoursc dulbec fe ue bljgfetf mf ouhturb ocrpcrbtgvb mcemf prglb fh trbjbnc fe fqugpc, quf hf db hhfvbmc b ocetbr oce gemgobmcrfs mf fagobogb y prcmuotgvgmbm oclpbrbjhfs y supfrgcrfs b ctrbs flprfsbs bagefs b hb eufstrb

 

PZCMVO]C_  Bzþobr> Fh Geifegc Obrlfhgtb _.B prcmuof uec mf hcs lfncrfs lfncrfs bzuobrfs mfh Pbìs, obrbotfrgzâemcsf pcr su ochcr, obhgmbm y tblbòc fe fh irbec. Ocetblcs oce ueb phbetb bzuobrfrb quf ecs prcpcrogceb hb tfoechciìb y bocif fh pfrscebh dulbec quf fe fhhb cpfrb pbrb prcmuogr  bzþobr mf bhtb obhgmbm. B ocetgeubogÿe lfeogceblcs hcs mgafrfetfs tgpcs mf Bzþobr  quf sf prcmuofe fe fh Geifegc Obrlfhgtb _.B>    

 Bzþobr Jhbeoc Fspfogbh  Bzþobr Jhbeoc  Bzþobr Orumc  Bzþobr ]urjgebmc

 Bmflâs mf prcmuogr hcs tgpcs mf Bzþobr fstâembr mfh lfrobmc, fh Geifegc Obrlfhgtb _.B prcmuof pbrb mgafrfetfs flprfsbs mfh sfotcr ebogcebh f getfrebogcebh eulfrcsbs fspfogagobogcefs tçoegobs prcpgbs mf obmb ohgfetf, bocrmf oce su efofsgmbm, fstc hb ocevgfrtf fe ueb phbetb bzuobrfrb hìmfr fe hb rfigÿe. Lgfhfs> Mfh prcofsc mf prcmuoogÿe mf bzþobr sf ifefrbe sujprcmuotcs quf ocesfrvbe hb bhtb obhgmbm quf sgflprf sf ecs obrbotfrgzb fetrf fhhcs sf feoufetrb hb Lgfh fe sus mgafrfetfs rfafrfeogbs c tgpcs>   

Lgfh Agebh / Lfhbzb Lgfh J Lgfh Qgrife



> Prcmuofe fefriìb rfecvbjhf 200% mf jgclbsb mf acrlb rfspcesbjhf Fefriìb oce fh lfmgc bljgfetf

Jbibzc> Mfh prcofsc mf prcmuoogÿe mf bzþobr sf ifefrbe sujprcmuotcs quf ocesfrvbe hb bhtb obhgmbm quf sgflprf sf ecs obrbotfrgzb fetrf fhhcs sf feoufetrb fh jbibzc fe sus mgafrfetfs rfafrfeogbs c tgpcs. Ctrcs prcmuotcs> 

Obodbzb

F_]ZVO]VZB CZIBEG^BOGCEBH

 

ECZLB]GQGMBM Hb Ocestgtuogÿe Pchìtgob Ebogcebh, quf sf ocestgtuyf fe fh lbroc hfibh mf obrâotfr suprflc y ihcjbh quf rfocif irbe pbrtf mf hcs feueogbmcs scjrf fh lbefnc y ocesfrvbogÿe mfh lfmgc bljgfetf. Hb hfigshbogÿe bljgfetbh bphgobjhf bh sfotcr bzuobrfrc fstâ felbrobmb fe trfs irbemfs jhcqufs ecrlbtgvcs b sbjfr> Hb Ocestgtuogÿe Pchìtgob Ebogcebh, quf sf ocestgtuyf fe fh lbroc hfibh mf obrâotfr suprflc y ihcjbh quf rfocif irbe pbrtf mf hcs feueogbmcs scjrf fh lbefnc y ocesfrvbogÿe mfh lfmgc bljgfetf. Hbs Hfyfs mfh Oceirfsc mf hb Zfpþjhgob, mfrfodcs oce aufrzb mf hfy y mforftcs hfy mfh Icjgfrec Ebogcebh, ocestgtuyfe hbs ecrlbs jâsgobs y pchìtgobs b pbrtgr mf hbs oubhfs sf mfsbrrchhb hb rfihblfetbogÿe fspfoìagob c ecrlbtgvb. Fe 279=, oce hb bprcjbogÿe mfh Oÿmgic Ebogcebh mf hcs Zfourscs Ebturbhfs Zfecvbjhfs y mf prctfoogÿe bh Lfmgc Bljgfetf, sf mgc gegogc b hb ifstgÿe bljgfetbh fe fh pbìs fe objfzb mfh Gemfrfeb. Pcstfrgcrlfetf, oce fh Oÿmgic _begtbrgc Ebogcebh bprcjbmc fe 2794, sf fstbjhfogfrce hcs hgefblgfetcs ifefrbhfs fe

 

lbtfrgb mf rfiuhbogÿe mf hb obhgmbm mfh biub y fh bgrf, bsì oclc fe fh lbefnc mf hcs rfsgmucs sÿhgmcs. Hb Ocestgtuogÿe Pchìtgob Ebogcebh Hb ocestgtuogÿe pchìtgob mf 2772 fstbjhfogÿ ue ocenuetc glpcrtbetf mf mfrfodcs y mfjfrfs mfh Fstbmc, hbs gestgtuogcefs y hcs pbrtgouhbrfs, fe lbtfrgb bljgfetbh, felbrobmc fe hcs prgeogpgcs mfh mfsbrrchhc scstfegjhf. Fstf lbembtc ocestgtuogcebh, prcpgogÿ bsì lgslc hb fxpfmgogÿe mf hb Hfy 77 mf 277?, quf orfc fh _gstflb Ebogcebh Bljgfetbh y fh Lgegstfrgc mfh Lfmgc  Bljgfetf.

Aufetf> Iuìb bljgfetbh pbrb fh sujsfotcr mf Obòb mf Bzþobr 

Lbroc Nurìmgoc pbrb fh _ujsfotcr mf Obòb mf Bzþobr  GE_]ZVLFE]C_ MF

MF_OZGPOGßE

CZMFEBOGßE HFW 77 MFH :: MF MGOGFLJZF MF 277?

Pcr hb oubh sf orfb fh Lgegstfrgc mfh Lfmgc Bljgfetf, sf rfcrmfeb fh sfotcr  pþjhgoc feobribmc mf hb ifstgÿe y ocesfrvbogÿe mfh lfmgc bljgfetf y hcs

 

rfourscs ebturbhfs rfecvbjhfs, sf cribegzb fh _gstflb Ebogcebh Bljgfetbh, _GEB y sf mgotbe ctrbs MFOZF]C 296? MFH ? BIC_]C MF 277=

mgspcsgogcefs. Pcr fh oubh sf rfihblfetb pbrogbhlfetf hcs

MFH LGEG_]FZGC MFH

]ìtuhcs QGGG y TGG mf hb hfy 77 mf 2.77? scjrf

LFMGC BLJGFE]F.

hgofeogbs bljgfetbhfs.

MFOZF]C :?6? MFH :? MF

Pcr fh oubh sf lcmgagob pbrogbhlfetf

 ECQGFLJZF MF 2777 MFH

fh Mforftc 296? mf 277=

LGEG_]FZGC MFH LFMGC BLJGFE]F. MFOZF]C 497 MFH 2? MF LBWC MF

Pcr fh oubh sf rfihblfetbe hbs

2774 MFH LGEG_]FZGC MFH LFMGC

mgspcsgogcefs rfafrfetfs bh crmfeblgfetc

BLJGFE]F

mfh tfrrgtcrgc luegogpbh y mgstrgtbh y b hcs Phbefs mf Crmfeblgfetc ]frrgtcrgbh

OCEQFEGC_ MF PZCMVOOGßE

MF_OZGPOGßE

OCEQFEGC MF PZCMVOOGßE

Ocetgfef fh Ocevfegc mf Prcmuoogÿe lâs

HGLPGB OCE FH _FO]CZ

Hglpgb, susorgtc fe Ecvgfljrf mf 2771,

B^VOBZFZC.

 pcr hcs baghgbmcs mf B_COBÒB, fh Lgegstfrgc mfh Lfmgc Bljgfetf y hbs butcrgmbmfs bljgfetbhfs mfh ârfb mf

 

geahufeogb mf hb

IF_]GßE MFH BIVB W HC_

bircgemustrgb bzuobrfrb MF_OZGPOGßE

ZFOVZ_C_ DÌMZGOC_ OVFZMC Ec. 2= MFH :? MF

Pcr fh oubh sf mgotbe ecrlbs scjrf fh

 ECQGFLJZF MF 2791 MF HB

ocetrch mf hb ocetblgebogÿe mf hbs biubs fe

OCZPCZBOGßE BV]ßECLB

hb oufeob mfh rìc Obuob mfetrc mfh tfrrgtcrgc

ZFIGCEBH MFH OBVOB

mf

OQO. MFOZF]C 26=2 MFH :1 MF NVHGC

 nurgsmgoogÿe mf hb OQO. Pcr fh oubh sf rfihblfetb hb Pbrtf GGG mfh

MF 2794.

Hgjrc GG mfh Mforftc-Hfy :422 mf 2.79=; ‘Mf hbs biubs ec lbrìtglbs“ y pbrogbhlfetf hb Hfy :?

BOVFZMC Ec. 0:0 MFH 2= MF

mf 2.79?. Pcr fh oubh sf rfihblfetbe hbs biubs

BIC_]C MF 2797 MF HB

sujtfrrâefbs fe fh ârfb mf nurgsmgoogÿe mf hb

OCZPCZBOGßE BV]ßECLB

OQO

ZFIGCEBH MFH OBVOB OQO MFOZF]C :469 MFH 2? MF CO]VJZF MF 2742.

Pcr fh oubh sf rfihblfetb hb Pbrtf TGGG, ]ìtuhc :¾, Obpìtuhc GGG mfh Mforftc-Hfy :422 mf 2.79= scjrf Oufeobs Dgmrcirâagobs y sf mgotbe

MFOZF]C 267= MFH :1 MF NVEGC

ctrbs mgspcsgogcefs. Pcr fh oubh sf rfihblfetb pbrogbhlfetf fh

MF 274=.

]ìtuhc G mf hb hfy 07 mf 2797, bsì oclc fh

 

obpìtuhc GG mfh tìtuhc QG pbrtf GGG hgjrc GG, y fh tìtuhc GGG mf hb pbrtf GGG hgjrc G mfh mforftc hfy :422 mf 279= fe oubetc b uscs mfh biub y HFW ?9? MFH 1 MF NVEGC MF 2779.

rfsgmucs hìqugmcs. Pcr hb oubh sf fstbjhfof fh prcirblb pbrb fh usc fagogfetf y bdcrrc mfh biub.

ZF_CHVOGßE 619 MFH := MF

Pcr

CO]VJZF MF 2779 MF HB

bp bprc rcvf vfod odbl blgf gfet etcc mf hb hbss bi biub ubss fe fh

OCZPCZBOGßE BV]ßECLB

tf tfrr rrggtcr crggc

ZFIGCEBH MF

OBZMFZ, y sf mgotbe lfmgmbs pbrb su

ZG_BZBHMB OBZMFZ. BOVFZMC 00: MF LBZ^C MF :000

 prctfoogÿe. Pcr lfmgc mf hb oubh sf rfihblfetb hb

MF HB OCZPCZBOGßE BV]ßECLB

gevfrsgÿe mfh 2% pbrâirbac þegoc mfh

ZFIGCEBH MFH OBVOB OZO

brtìouhc

IF_]GßE MFH BGZF

hb

oubh

sf

rfihblfetb

fh

mf FIG FIGCE CEBH BH ßE mf hb

=? mf hb Hfy 77 mf 277?. MF_OZGPOGßE

MFOZF]C 00: MFH 22 MF FEFZC

Pcr fh oubh sf rfihblfetbe pbrogbhlfetf

MF 274: MFH LGEG_]FZGC MF

fh ]ìtuhc G mf hb Hfy 07 mf 2.797 y fh

_BHVM.

Mforftc Hfy :422 mf 2.79=, fe oubetc b flgsgcefs btlcsaçrgobs

ZF_CHVOGßE 006 MFH 7 MF FEFZC

Pcr hb oubh sf rfihblfetbe hcs egvfhfs

MF 2771 MFH LGEG_]FZGC MFH

 pfrlgsgjhfs mf flgsgÿe mf ocetblgebetfs

LFMGC BLJGFE]F.

 prcmuogmcs pcr aufetfs lÿvghfs tfrrfstrfs

 

b ibschgeb c mgçsfh, y sf mfagefe hcs fqugpcs y prcofmglgfetcs mf lfmgogÿe mf mgodbs ZF_CHVOGßE MI 0=4 MFH 22

flgsgcefs y sf bmcptbe ctrbs mgspcsgogcefs. Pcr hb oubh sf fxpgmf ue pfrlgsc ochfotgvc

MF AFJZFZC MF 2774 MF

mf flgsgcefs pcr quflbs mf obòb y sf

OQO.

glpcefe

ZF_CHVOGßE MI 0== MF AFJZFZC :

uebs ocemgogcefs. Pcr lfmgc mf hb oubh sf fstbjhfof hb

MF :000 MF HB OCZPCZBOGßE

lftcmchciìb pbrb obhouhbr fh lcetc mf

BV]ßECLB ZFIGCEBH MFH QBHHF

hbs luhtbs pcr gearboogcefs b hbs

MFH OBVOB OQO.

ecrlbs bljgfetbhfs pcr vfrtglgfetcs hìqugmcs y

MG_PC_GOGCEF_ QBZGB_

flgsgcefs pcr quflbs mf obòb mf bzþobr  MF_OZGPOGßE

ZF_CHVOGßE ::=1 MFH 29 MF NVHGC

Pcr hb oubh sf borfmgtb ue cribegslc

MF 2774 MFH LGEG_]FZGC MF

mf ofrtgagobogÿe fe ecrlbs G_C

MF_BZZCHHC

2=002

FOCEßLGOC. HFW HF W ==72 72 MF MFH H 2? 2? M MF FF FEF EFZC ZC MF 27 2777 77..

(GOCE]FO). Pcr Pcr hhbb oub oubhh ssff fst fstbj bjhf hfof of fh sf sfiu iurc rc fo foch chÿi ÿiggoc y sf lcmgagobe hcs mfhgtcs bljgfetbhfs mfh oÿmgic pfebh.

ZF_CHVOGßE 000:? MFH 29 MF

Pcr hb oubh sf mfohbrb fe bhfrtb sbegtbrgb bh

LBZ^C MF 2777 MFH GE_]G]V]C

ouhtgvc mf hb obòb mf bzþobr fe fh Qbhhf

OCHCLJGBEC BIZCPFOVBZGC GOB.

Ifcirâagoc mfh rìc Obuob pcr hb prfsfeogb

 

mfh

ECZLB ZF_C ZF _CHV HVOG OGßE ßE GO GOB B EC. EC. 21 2171 71 MF 27 274= 4=

Obhgic Ghgcefs. MF_OZGPOGßE Pcr Pcr hb ou oubh bh sf bm bmcp cpttbe rf rfqu quggsg sgtc tcss agtcsbegtbrgcs  pbrb hb prcmuoogÿe mf sflghhb mf obòb

MFOZF]C EC 617 MF :000

mf bzþobr  Pcr fh oubh sf cribegzb fh Acemc mf Fstbjghgzbogÿe mf prfogcs pbrb hcs bzþobrfs ofetrgauibmcs, hbs lfhbzbs mfrgvbmbs mf hb fxtrboogÿe c mfh rfagebmc

ZF_CHVOGßE GOB EC. ?776 MF :006

mf bzþobr y hcs  nbrbjfs mf bzþobr. Pcr hb oubh sf butcrgzb bh Ofetrc mf Gevfstgibogÿe mf hb Obòb mf Bzþobr mf Ochcljgb, Ofegobòb, b ocetgeubr oce botgvgmbmfs mf gevfstgibogÿe fe pfqufòb fsobhb fe oblpc oce phbetbs mf obòb mf

bzþobr  lcmgagobmbs ifeçtgoblfetf Aufetf> Iuìb bljgfetbh pbrb fh sujsfotcr mf Obòb mf Bzþobr (B_COBÒB:0:2)

Ocemgogcefs mfh lfrobmc (Aufetf Bscobòb :0:2)

 

Fe :027, fe prclfmgc, fh prfogc getfrebogcebh mfh bzþobr jhbeoc sf sgtuÿ fe ???,04 mÿhbrfs pcr tcefhbmb, ueb rfmuoogÿe mf ?,2% arfetf b :024, sgfemc fh egvfh lâs jbnc mfsmf :009 (irâagob). Fh bzþobr orumc, pcr su pbrtf, rfigstrÿ fe :027 ue prfogc prclfmgc mf 2:,?6 ofetbvcs mf mÿhbr pcr hgjrb (fqugvbhfetf b :9:,:4 mÿhbrfs pcr tcefhbmb), ue egvfh sglghbr bh mf :024, y ec cjsfrvbmc mfsmf :009. Fe bljcs obscs, jhbeoc y orumc, hcs prfogcs fe :027 sf ujgobrce ?0% pcr mfjbnc mfh prclfmgc mf hcs þhtglcs 20 bòcs. Dfodcs rfhfvbetfs mfh lfrobmc getfrebogcebh mfh bzþobr.

Murbetf :027 y hc ocrrgmc mf :0:0 (b lbrzc) sf cjsfrvbe trfs absfs mfh ogohc mf prfogcs mf bzþobr. Veb mfsofemfetf quf gegogÿ b lfmgbmcs mf fefrc mf :027 oce egvfhfs mf prfogcs ofrobecs b 2? Ofetbvcs mf mÿhbr y quf fstuvc lbrobmb pcr lbycrfs fxofmfetfs luemgbhfs mf bzþobr, hb mfjghgmbm mfh rfbh y fh rforumfoglgfetc mf hb mgsputb oclfrogbh fetrf Odgeb y Fstbmcs Vegmcs. Fetrf sfptgfljrf mf :027 y dbstb afjrfrc mf :0:0, sf cjsfrvb ueb absf mf rfoupfrbogÿe nbhcebmb pcr fh bulfetc mf hcs prfogcs mfh pftrÿhfc y quf sf oceschgmÿ oce hbs fxpfotbtgvbs mf uecs auemblfetbhfs lâs sÿhgmcs pbrb :0:0. Fe afjrfrc mf :0:0 hb octgzbogÿe mfh bzþobr orumc b bhobezÿ su egvfh lâs bhtc, ec vgstc mfsmf lbyc mf :029 (26,09 ofetV_M/hj), hufic mf quf sf ocecogfrbe hbs ogarbs mf hb ocsfodb fe ]bghbemgb, quf mbjbe oufetb mf sus jbncs rfsuhtbmcs, y mf Gemgb, quf, mfspuçs mf mcs tflpcrbmbs ocesfoutgvbs oce egvfhfs mf prcmuoogÿe ofrobecs b ?= lghhcefs mf tcefhbmbs, beueogÿ quf fspfrb ofrrbr hb tflpcrbmb :027/:0 oce ofrob mf :1 lghhcefs mf tcefhbmbs mf prcmuoogÿe.

 

 B pbrtgr mf lbrzc mf :0:0, hcs prfogcs sf prfogpgtbrce b ueb vfhcogmbm sge prfofmfetfs y fe fh hbpsc mf ue lfs obyfrce ::% brrbstrbmcs pcr hb fxpbesgÿe mfh OCQGM-27, oclc sf lufstrb fe fh rfoubmrc.

Ochcljgb fe fh ocetfxtc Getfrebogcebh Fe fh ocetfxtc getfrebogcebh, Ochcljgb ocetgeþb fetrf hcs 26 lbycrfs prcmuotcrfs y fxpcrtbmcrfs mf bzþobr mfh luemc fetrf 220 prcmuotcrfs y 226 fxpcrtbmcrfs luemgbhfs (oce jbsf fe fh prclfmgc :02=-:024). _ge fljbric, su pbrtgogpbogÿe (2%) ec fs sgiegagobtgvb, mbmb hb prfpcemfrbeogb mf irbemfs nuibmcrfs oclc Jrbsgh, Gemgb y ]bghbemgb. Fe prclfmgc, fetrf :02= y :024, mf boufrmc oce ogarbs mf hb Cribegzbogÿe Getfrebogcebh mfh Bzþobr (CGB), Ochcljgb coupÿ fh pufstc 2= fetrf hcs lbycrfs prcmuotcrfs luemgbhfs, pfrc oce ueb pbrtgogpbogÿe mf schc fh 2,?% mf hb prcmuoogÿe luemgbh (Irâagob 2).

 

Fe fh obsc mf hbs fxpcrtbogcefs, fe fstf pfrìcmc coupÿ fh pufstc 2: oce fh 2,2% mfh oclfrogc luemgbh mf bzþobr. Hb jbnb pbrtgogpbogÿe mf Ochcljgb fe fh lfrobmc luemgbh mf bzþobr (2,?% mf hb prcmuoogÿe luemgbh y 2,2% mfh oclfrogc luemgbh), hc ocevgfrtf fe ue tclbmcr mf prfogcs, pcr hc quf fh prfogc getfrec sf acrlb oce jbsf fe fh getfrebogcebh. Pcr fhhc, pbrb lgtgibr hb bhtb vchbtghgmbm mfh lfrobmc getfrebogcebh, ifefrbmb pcr hbs pchìtgobs mgstcrsgcebetfs mf irbemfs glpcrtbmcrfs y fxpcrtbmcrfs, fh pbìs utghgzb gestrulfetcs mf pchìtgob pþjhgob birìochb oclc fh _gstflb mf Arbenbs mf Prfogcs:)(_BAP), quf cpfrb mf lbefrb ocetrboìohgob bh Bemgec prfogc getfrebogcebh.(Irbagob

 Bh cjsfrvbr fh oclpcrtblgfetc mfh prfogc bh prcmuotcr mf bzþobr fe Ochcljgb, sf bprfogb quf, mfsmf :002 db orfogmc pcr mfjbnc mf hb geahbogÿe ebogcebh y mf hcs prfogcs mf bhiuecs prcmuotcs quf hc utghgzbe oclc gesulc.

 

Oubemc sf oclpbrb fh prfogc bh ocesulgmcr mf bzþobr fe Ochcljgb, fe iÿemchb, arfetf b ctrcs prcmuotcrfs, ocesulgmcrfs y oclpftgmcrfs, jgfe sfb mf hb rfigÿe, mf hb Bhgbezb mfh Pboìagoc (BP) c mf hcs Obemgmbtcs b Fstbmcs Bscogbmcs (OFBs), sf cjsfrvb quf fstf prfogc sf ujgob fetrf hcs lâs jbncs (irâagob ?). Fs glpcrtbetf tfefr fe oufetb quf fe egeiþe pbìs mfh luemc fh prfogc mclçstgoc fs giubh bh prfogc getfrebogcebh mf jchsb, pufs fh mclçstgoc, bmflâs mf hb octgzbogÿe getfrebogcebh, geohuyf ctrcs ibstcs obhgmbm, hciìstgob, lârifefs, fto.). (ebogcebhgzbogÿe y brbeofhfs, tgpcs mf flpbquf, Irbagob ?

Glpcrtbogcefs Fe :027 sf prfsfetÿ ue georflfetc sgiegagobtgvc mf hbs glpcrtbogcefs mf bzþobr, prgeogpbhlfetf crgigebrgbs mf hcs pbìsfs mf hb Ocluegmbm Bemgeb, y mf ftbech crgigebrgc mf Fstbmcs Vegmcs, hc quf bafotÿ hbs mfogsgcefs mf prcmuoogÿe, y sf rfahfnÿ fe ueb lfecr ârfb ocsfodbmb (-?,9%), lchgfemb (-1,4%), y prcmuoogÿe mf bzþobrfs, geohuyfemc hcs mfstgebmcs bh ftbech (-6%).Fe fafotc, hbs glpcrtbogcefs mf bzþobr orfogfrce 2?1% arfetf b :024 bhobezbemc :60 lgh tcefhbmbs, prcvfegfetfs mf 29 pbìsfs; sge fljbric, fh 72% mf fstbs glpcrtbogcefs sf crgigebrce fe Pfrþ (=0%), Jchgvgb (?6%) y Foubmcr (21%), pbìsfs quf ec pbibe brbeofh. :027 auf fh tfrofr bòc oce fh lbycr vchulfe mf glpcrtbogcefs mf hb dgstcrgb; b su vfz, fe hc ocrrgmc mf :0:0 (b lbrzc) sf rfigstrÿ ue georflfetc mfh 6?%, rfspfotc bh lgslc trglfstrf mf :027. Oclc sf cjsfrvb fe fh rfoubmrc ‘_gtubogÿe mfh oclfrogc mf bzþobr mf Ochcljgb oce hb Ocluegmbm Bemgeb mf

 

Ebogcefs“, hbs glpcrtbogcefs mf bzþobr prcofmfetfs mf hcs pbìsfs bemgecs sf dbe georflfetbmc fe ocemgogcefs mfsgiubhfs pbrb Ochcljgb. _fiþe hb MGBE ogtbmc pcr Bscobòb :0:0> 

 





Murbetf :027, =4 oclpbòìbs glpcrtbrce :60 lgh tcefhbmbs mf bzþobr prcofmfetfs mf 29 pbìsfs Ve mf 2?1% arfetf rfigstrc glpcrtbogcefs mf :024. 72%bulfetc mf hbs glpcrtbogcefs mfbhbzþobr mfmf :027 prcvgec mf pbìsfs mf hb Ocluegmbm Bemgeb mf Ebogcefs oce 0% mf brbeofh. 1% mf hbs glpcrtbogcefs prcvgec mf Jrbsgh oce ue brbeofh prclfmgc fafotgvc pbibmc mf =1,9% fe bzþobr jhbeoc Fe tctbh, fh brbeofh fafotgvblfetf pbibmc pcr hbs glpcrtbogcefs mf bzþobr, murbetf :027, auf mf ?,2% pbrb bzþobr jhbeoc.

Fxpcrtbogcefs Fe oubetc b hbs fxpcrtbogcefs mf bzþobr, buequf mgslgeuyfrce 1,=% arfetf b :024, hf pfrlgtgfrce b Ochcljgb ocetgeubr sgfemc ue pbìs supfrbvgtbrgc y ifefrbr mgvgsbs pcr ?09 lghhcefs mf mÿhbrfs.  Buequf hb prcmuoogÿe mf bzþobr mgslgeuyÿ ue 6,1% fe :027, arfetf b :024, Ochcljgb ocetgeþb sgfemc ue pbìs supfrbvgtbrgc oce 900 lgh tcefhbmbs fxpcrtbmbs fe :027. Hbs fxpcrtbogcefs mf bzþobr mf :027 bhobezbrce hcs ?09 lghhcefs mf mÿhbrfs quf rfprfsfetbe> 



Fh =,:% mf hbs fxpcrtbogcefs mfh âljgtc birìochb + pfsob (obpìtuhcs mfh brbeofh mf bmubebs 2 bh :=). ?,7% mf hbs fxpcrtbogcefs mf hb gemustrgb lbeuaboturfrb (ec geohuyf prcmuotcs lgefrbhfs, pgfmrbs prfogcsbs, auemgogÿe, dgfrrc y bofrc.

Hcs prgeogpbhfs mfstgecs mf fxpcrtbogÿe mfh bzþobr ochcljgbec fe :027 aufrce> Pfrþ> :6% Odghf> 29% Fstbmcs Vegmcs> 21% Dbgtì> 4% Foubmcr> =%

Ctrcs> ?0% (geohuyf 10 mfstgecs bmgogcebhfs). (Aufetf MGBE)