Académique Documents
Professionnel Documents
Culture Documents
)*/$ X$)$
X$)$ ) .
3URJUDPPH3OXULDQQXHOGH*HVWLRQGHVPLOLHX[DTXDWLTXHV
'RVVLHUGH'pFODUDWLRQG·,QWpUrW*pQpUDO
C
- ! "
#$
- ! %# " $
&$ " '
- ! $ " (
" )$# * $ +
(
- !"% "
! ,FIFDUWH-
- )$# .*
- * ./01
- #$ % .)(
- #$
- 2
! #$
(
$1$/<6('(/·e7$7,1,7,$/
/HPLOLHXSK\VLTXH
/HUHOLHI
! 3 " %
( , A -
' 2 ,- 4 ,5-
*% * * ) *%
#$ 6B8 BC 896 CA8 8
#$ % )( C6: AC 988 CC6 8:
* /01 CB9 AA 9;; CA 8C
)$# * C8C B 9B; 9<B :9
! #$ % .)( %
,C6:- = > ;;!
% (
C;5!
# > % 8:5 #$ % .)(
! % #$ ( ,6B8-
896 / ! # #$
C;5! (
( 6;5
3URJUDPPH3OXULDQQXHOGH*HVWLRQGHVPLOLHX[DTXDWLTXHV
'RVVLHUGH'pFODUDWLRQG·,QWpUrW*pQpUDO
CA
Programme Pluriannuel de Gestion des milieux aquatiques
Dossier de Déclaration d'Intérêt Général
Le relief 6
Vimbelle Vimbelle
onnette
onnette
Programme Pluriannuel de Gestion des milieux aquatiques
Dossier de Déclaration d'Intérêt Général
&RQWH[WHJpRORJLTXH
7
Ech. 1/125 000
CHAMBOULIVE
PIERREFITTE
BEAUMONT
SAINT-JAL
SAINT-SALVADOUR
ORLIAC-DE-BAR
SEILHAC VITRAC-SUR-MONTANE
CORREZE
LAGRAULIERE
BAR
SAINT-CLEMENT
EYREIN
NAVES
CHANTEIX LES ANGLES-
SUR-CORREZE
SAINT-PRIEST-
DE-GIMEL
GIMEL-LES-CASCADES
SAINT-MEXANT
SAINT-GERMAIN- TULLE
SAINT-MARTIAL-
LES-VERGNES CHANAC- DE-GIMEL
FAVARS
LES-MINES
SAINT-BONNET-AVALOUZE
CHAMEYRAT
LAGUENNE ESPAGNAC
LADIGNAC-SUR-
RONDELLES
SAINT- PANDRIGNES
HILAIRE- CORNIL
PEYROUX
SAINTE-FORTUNADE
SAINT-PAUL
MARC-
LA-
TOUR
LAGARDE-ENVAL
LE CHASTANG
/DJpRORJLH
/H WHUULWRLUH GH OD FRPPXQDXWp G·DJJORPpUDWLRQ V·pWHQG VXU JUDQGV HQVHPEOHV
JpRORJLTXHV FIFDUWHSDJHSUpFpGHQWH
- /HV IRUPDWLRQV PpWDPRUSKLTXHV OHSW\QLWHV GH 7XOOH HW *QHLVV DSSDUWHQDQW j OD
VpULHGX%DV/LPRXVLQ
- /HVURFKHVpUXSWLYHV JUDQLWHV GX3ODWHDXGH0LOOHYDFKHVjO·HVW
- 'HVLQWHUFDODWLRQVGHURFKHVEDVDOWLTXHVDX1RUGRXHVW
/DIDLOOHSULQFLSDOHGXWHUULWRLUHDSSHOpH©IDLOOHGH%DUªWUDYHUVHOHVFRPPXQHVGH%DUj
6DLQW3DXO(OOHVpSDUHOHVIRUPDWLRQV%DV/LPRXVLQHW0LOOHYDFKHV
6XU OH VRFOH PpWDPRUSKLTXH O·HDX VH WURXYH HQ QDSSHV WUqV ORFDOLVpHV HW SHX pWHQGXHV
/HVSRLQWV G·HDX HW VRXUFHV VRQW QRPEUHX[PDLV GH IDLEOH GpELW HW VH UDFFURFKHQW j XQ
UpVHDXK\GURJUDSKLTXHDX[PXOWLSOHVUDPLILFDWLRQV
6XU OHV SODWHDX[ OHV ]RQHV KXPLGHV RFFXSHQW JpQpUDOHPHQW GHV YDOORQV R OD SHQWH HVW
UHODWLYHPHQWPRLQVIRUWH/HVVRXUFHV\VRQWVRXYHQWGLVSHUVpHVHQERUGXUHGHPDUpFDJHV
/HV FRXUV G·HDX SULQFLSDX[ V·pFRXOHQW VXU GHV IRUPDWLRQV DOOXYLDOHV UpFHQWHV JDOHWV GH
URFKHVFULVWDOOLQVGDQVXQHPDWULFHVDEOHXVHVDEOHVOLPRQRDUJLOHX[
/HFOLPDW
*UDFH j OD UHFRQVWLWXWLRQ GHV ©W\SHV GH FOLPDWV HQ )UDQFHª EDVpH VXU XQH VpULH
G·REVHUYDWLRQVGHPpWpR)UDQFHGHSXLVDQVLOHVWSRVVLEOHG·DYRLUXQHLGpHGXFOLPDWj
O·pFKHOOHLQWHUFRPPXQDOH
3UHPLHUREVWDFOHQDWXUHOUHQFRQWUpSDUOHVSHUWXUEDWLRQVDWPRVSKpULTXHVHQSURYHQDQFH
GHO·RFpDQ$WODQWLTXHOHWHUULWRLUHEpQpILFLHG·XQFOLPDWGHW\SHRFpDQLTXHDOWpUpDYHF
XQHWHQGDQFHPRQWDJQDUGHjO·(VW
/DWHPSpUDWXUHPR\HQQHHVWGH&DYHFXQHDPSOLWXGHGH&HQWUHOHVPRLVGH
MDQYLHUHWMXLOOHW/HVWHPSpUDWXUHVPLQLPDOHVGHVFHQGHQWHQGHVVRXVGH&HQPR\HQQH
MRXUV SDU DQ DORUV TXH OHV PD[LPDOHV VDLVRQQLqUHV VXSpULHXUHV j & VRQW FRQVWDWpHV
HQYLURQMRXUVSDUDQ
'LUHFWHPHQWLQIOXHQFpHVSDUOHUHOLHIOHVKDXWHXUVGHSUpFLSLWDWLRQVYDULHQWVXUO·DQQpHGH
PPjO·RXHVWjPPDXQRUGHVW(QWHUPHGHUpSDUWLWLRQOHVGHX[WLHUVGHVSOXLHV
3URJUDPPH3OXULDQQXHOGH*HVWLRQGHVPLOLHX[DTXDWLTXHV
'RVVLHUGH'pFODUDWLRQG·,QWpUrW*pQpUDO
VHUHQFRQWUHQWHQWUHOHVPRLVG·RFWREUHHWDYULO FIGLDJUDPPHGHVSUpFLSLWDWLRQVj1DYHV
HWHQDQQH[H
/HVK\GURpFRUpJLRQV
$XQLYHDXGXWHUULWRLUHFRPPXQDXWDLUHOHVFRXUVG·HDXUHOqYHQWGHGHX[JUDQGHVHQWLWpV
6FKpPDWLTXHPHQW OH TXDUW QRUGRXHVW GH OD FRPPXQDXWp G·DJJORPpUDWLRQ HVW FODVVp
GDQV O·K\GURpFRUpJLRQ 0DVVLI &HQWUDO 1RUG +(5 $ O·LQWpULHXU GH FHWWH HQWLWp OHV FRXUV
G·HDXDSSDUWLHQQHQWjO·K\GURpFRUpJLRQpOpPHQWDLUHGLWHGX©3ODWHDX/LPRXVLQª +(5
&·HVW XQ SODWHDX GRPLQp SDU OHV URFKHV JUDQLWLTXHV GXUHV LPSHUPpDEOHV HW QRQ
FDUERQDWpHV ,O GHVFHQG HQ SHQWH GRXFH YHUV OHV WDEOHV FDOFDLUHV VLWXpHV DX QRUG GX
0DVVLI &HQWUDO /H FOLPDW HVW GH W\SH RFpDQLTXH KXPLGH OHV SUpFLSLWDWLRQV LPSRUWDQWHV
VRQWLQIOXHQFpHVSDUOHUHOLHI
/HV FRXUV G·HDX GH FHWWH K\GURpFRUpJLRQ VRQW OD 9p]qUH HW VHV DIIOXHQWV DX[TXHOV LO
FRQYLHQWG·DMRXWHUOH0DXPRQWTXLVHMHWWHGDQVOD&RUUq]HOpJqUHPHQWHQDPRQWGHOD
FRQIOXHQFH&RUUq]H9p]qUH(WRQQDPPHQWOD0RQWDQHDDXVVLpWpFODVVpHGDQVOHVFRXUV
G·HDXGX0DVVLI&HQWUDOQRUG,OQ·\DjSULRULSDVGHFRKpUHQFHK\GURJUDSKLTXHGDQVFH
FKRL[ SXLVTXH FHWWH ULYLqUH VH MHWWH GDQV OD 6DLQW%RQQHWWH TXL HVW FODVVpH GDQV
O·K\GURpFRUpJLRQ0DVVLI&HQWUDOVXG
/D &RUUq]H VHV DIIOXHQWV DLQVL TXH OHV WrWHV GH EDVVLQ GH OD YDOOpH GH OD 'RUGRJQH IRQW
SDUWLH GX YHUVDQW RFFLGHQWDO +(5 GX 0DVVLI &HQWUDO VXG +(5 /HYHUVDQW RFFLGHQWDO
HQ SHQWH GHVFHQGDQW YHUV O·RXHVW HVW LQFLVp SDU GH ODUJHV EDVVLQV SHUPLHQV
TX·HPSUXQWHQWOHVFRXUVG·HDXOHVSOXVLPSRUWDQWV/HUHOLHIHVWSHXDFFHQWXpLQIpULHXUj
PqWUHVG·DOWLWXGH/HVSHQWHVVRQWSOXVLPSRUWDQWHVVXUOHVYHUVDQWVGHVJUDQGVEDVVLQV
SULPDLUHV/HFOLPDWHVWGHW\SHRFpDQLTXHKXPLGH
/·K\GURORJLH
/HUpVHDXGHPHVXUHVK\GURORJLTXHVJpUpSDUOHVHUYLFHGHSUpYLVLRQGHVFUXHVGXEDVVLQ
GH OD 'RUGRJQH SHUPHW GH UpFROWHU OHV GpELWV FDUDFWpULVWLTXHV VXU FRXUV G·HDX GX
WHUULWRLUHLQWHUFRPPXQDO
/DFDUWHSDJHVXLYDQWHSUpVHQWHOHVGpELWVGHVFRXUVG·HDXDX[VWDWLRQVK\GURORJLTXHV
DLQVLTXHOHVFRXUEHVGHSUpFLSLWDWLRQVGXWHUULWRLUH
/HVGL[VWDWLRQVUHWHQXHVSRXUDERUGHUOHVUpJLPHVK\GURORJLTXHVVXUFHVFRXUVG·HDXVRQW
SUpVHQWpHVGDQVOHWDEOHDXFLGHVVRXV
bassin versant de Période de
Code Station Nom de la station
la station (km²) mesure
P3131020 La Vézère à Uzerche 601 1918-2012
Le Brezou à Vigeois (pont de
P3194310 104 1951-2012
Bleygeat)
P3201020 La Vézère à St Viance 993 1973-2012
La Corrèze à Saint Yrieix le Déjalat
P3322510 54 1948-2012
(Pont de Lamour)
La Corrèze à Corrèze (Pont de
P3352510 168 1935-2012
Neupont)
P3502510 La Corrèze à Tulle (Pont des Soldats) 356 1957-2012
P3614010 La Montane à Eyrein (Pont du Geai) 43 1957-2012
La Montane à Laguenne (Pont de la
P3671010 209 1989-2012
Pierre)
La Corrèze à Brive-la-Gaillarde (le
P3922510 947 1918-2012
Prieur)
3URJUDPPH3OXULDQQXHOGH*HVWLRQGHVPLOLHX[DTXDWLTXHV
'RVVLHUGH'pFODUDWLRQG·,QWpUrW*pQpUDO
Programme Pluriannuel de Gestion des milieux aquatiques
'pELWVHWSUpFLSLWDWLRQV
8
Module : 15 m3/s Ech. 1/125 000
ru
iss
Débit mini : 1,5 m3/s Débit max : 253 m3/s
ea
QMNA5 : 2,5 m3/s QJ10 : 130 m3/s Corrèze (Saint-Yriex-le-Déjalat) - P3322510
u
de
Débit < au 1/10 du module sur 10 ans la m
adra Module : 1,95 m3/s
la
6 années - 63 jours nge
bla
d Débit mini : 0,195 m3/s Débit max : 27,2 m3/s
r
nc
re illa QMNA5 : 0,14 m3/s QJ10 : 24 m3/s
é zè
he
la v ou
ur
rie
Débit < au 1/10 du module sur 10 ans
50
le r ud 8 années - 248 jours
11
u jo ea
ux iss
ru
la vimbelle
13 Débit mini : 0,456 m3/s Débit max : 57,6 m3/s
50 QMNA5 : 0,64 m3/s QJ10 : 59 m3/s
ze
rrè
1
Débit < au 1/10 du module sur 10 ans
25
co
0
la 4 années - 49 jours
1
20
1
50
0
30
11 d e 0
la
au
cé
en
m
r on
la
tte Montane (Pont du Jay) - P3614010
ne
ure
bo Module : 1,22 m3/s
la e
le brezou Débit mini : 0,122 m3/s Débit max : 13,5 m3/s
tan
on QMNA5 : 0,14 m3/s QJ10 : 10 m3/s
1 20 0
ruis l am Débit < au 1/10 du module sur 10 ans
sea l'é
ta 8 années - 366 jours
la s
u de ng
la r de
ola
ode bo
n
ur
e
re
t blanc
le maumon
Corrèze (Pont des Soldats) - P3502510
1 250
ruis
QMNA5 : 1,2 m3/s QJ10 : 110 m3/s
t
laber
se a
Débit < au 1/10 du module sur 10 ans
le sa
r
oi
ud
tn
on
eT
m
au
rs
a ys
m
va
fa
le
se
la
de sa
int
e -bo
uz
co nn
ett Montane (Pont de la Pierre) - P3671010
la e
Module : 4,56 m3/s
Débit mini : 0,456 m3/s Débit max : 205 m3/s
e
ouz
ru
iss
ga
ea 4 années - 49 jours
ne
u
du
tte
ma la
ze ro
Maumont (Ussac) - P3994010 rui t nd
sse ell
Module : 2,76 m3/s au e
Débit mini : 0,276 m3/s Débit max : 105 m3/s de
bra
ru
la
se
u
ne
n
va
la
e
ru
la
sa
ea
u
e
de
sea
m
éj Source : BD Carto (IGN 2003) et Bd Topo (IGN 2008)
u de
ou
HYDRO-MEDD/DE, CG19
la b
r
an
/HVGpELWVPR\HQVDQQXHOV
/D GLVWLQFWLRQ IDLWH GDQV OHV K\GURpFRUpJLRQV VH UHWURXYH GDQV OD FRPSDUDLVRQ GHV
PRGXOHVVSpFLILTXHV FIWDEOHDXFLGHVVRXV
3URJUDPPH3OXULDQQXHOGH*HVWLRQGHVPLOLHX[DTXDWLTXHV
'RVVLHUGH'pFODUDWLRQG·,QWpUrW*pQpUDO
Nom de la station QMNA5 Débit spécifique
(m3/s) d'étiage (l/s/km²)
La Vézère à Uzerche 2,6 4,3
Le Brezou à Vigeois (pont de
0,45 4,3
Bleygeat)
La Vézère à St Viance 4,8 4,8
La Corrèze à Saint Yrieix le Déjalat
0,14 2,6
(Pont de Lamour)
La Corrèze à Corrèze (Pont de
0,54 3,2
Neupont)
La Corrèze à Tulle (Pont des Soldats) 1,3 3,7
3URJUDPPH3OXULDQQXHOGH*HVWLRQGHVPLOLHX[DTXDWLTXHV
'RVVLHUGH'pFODUDWLRQG·,QWpUrW*pQpUDO
GpYHORSSHPHQW GH OD WUXLWH DGXOWH HW GX VDXPRQ DX VWDGH IUDLH HW DOHYLQ 3UHQDQW HQ
FRQVLGpUDWLRQ OH VDXPRQ MXYpQLOH XQ GpELW GH PV VHUDLW SOXV VDWLVIDLVDQW HW TXDVL
RSWLPDOSRXUWRXVOHVVWDGHVGHODWUXLWHHWGXVDXPRQ
$X UHJDUG GH FHV UpVXOWDWV LO DSSDUDvW TXH OHV FRQGLWLRQV GH OD &RUUq]H j 7XOOH VRQW
FODLUHPHQWGpIDYRUDEOHVDXPDLQWLHQGHFHVHVSqFHV6LOH401$GHO·RUGUHGHPV
HVW OpJqUHPHQW VXSpULHXU DX[ EHVRLQV PLQLPXP LGHQWLILpV HQ SpULRGH G·pWLDJH OH GpELW
WRPEHHQGHVVRXVGXGXPRGXOH PV HQPR\HQQHMRXUVSDUDQ
/HVGpELWVGHKDXWHVHDX[
/HVGpELWVPD[LPXPVRQWIRXUQLVjWLWUHLQGLFDWLIFDUOHXUFDUDFWqUHH[FHSWLRQQHOQHSHUPHW
SDV GH OHV XWLOLVHU SRXU XQH DQDO\VH FRPSDUpH &RPSWH WHQX GHV SpULRGHV GH PHVXUHV
UHODWLYHPHQWSOXVFRXUWHVVXUOHVVWDWLRQVGXSRQWGX*HDLG·8VVDFHWGH6DLQW9LDQFHLOHVW
OjDXVVLGpOLFDWGHYRXORLUOHVFRPSDUHUDYHFOHVDXWUHVVWDWLRQV
2Q SHXW UHPDUTXHU TXH OHV GpELWV VSpFLILTXHV OHV SOXV LPSRUWDQWV VRQW HQUHJLVWUpV VXU OH
EDVVLQ DPRQW GHOD &RUUq]H /HXU FRPSDUDLVRQ PRQWUH DXVVL XQH GLPLQXWLRQ UpJXOLqUH GH
O·DPRQWYHUVO·DYDO,O\DXQHEDLVVHGHGXGpELWGHFUXHGpFHQQDOHHQWUHODVWDWLRQ
GH6DLQW<ULHL[OH'pMDODWHWFHOOHGX3ULHXUj%ULYH
Débit Q max Débit spécifique
Q J 10 ans
Nom de la station spécifique de observé max observé
(m3/s)
crue (l/s/km²) (m3/s) (l/s/km²)
La Vézère à Uzerche 130 216,3 253 421,0
Le Brezou à Vigeois (pont de
25 240,4 42,9 412,5
Bleygeat)
La Vézère à St Viance 180 181,3 273 274,9
La Corrèze à Saint Yrieix le Déjalat
24 444,4 27,2 503,7
(Pont de Lamour)
La Corrèze à Corrèze (Pont de
59 351,2 57,6 342,9
Neupont)
La Corrèze à Tulle (Pont des Soldats) 110 309,0 336 943,8
La Montane à Eyrein (Pont du Geai) 10 232,6 13,5 314,0
La Montane à Laguenne (Pont de la
60 287,1 205 980,9
Pierre)
La Corrèze à Brive-la-Gaillarde (le
260 274,6 462 487,9
Prieur)
Le Maumont à Ussac (la Chanourdie) 55 339,5 105 648,1
&UXHGH
$YHF NP GHFRXUV G·HDX SDU NPò OH EDVVLQ GHOD&RUUq]HDOD SOXV IRUWH GHQVLWp GH
UpVHDX VXU OH EDVVLQ GH OD 'RUGRJQH &HWWH GHQVLWp OXL FRQIqUH XQH IRUWH SURGXFWLYLWp HQ
SpULRGH GH SOXLH LQWHQVH 6HORQ O·pWXGH K\GUDXOLTXH 62*5($+ GH OHV GpELWV
VSpFLILTXHVPD[LPXPORUVGHODFUXHGHRVFLOODLHQWHQWUHOVNPòVXUOD9LPEHOOHHW
OVNPòVXUOD&RUUq]Hj7XOOH
'HIDLWOHVHFWHXUGH7XOOHHVWSDUWLFXOLqUHPHQWH[SRVpDX[LQRQGDWLRQV&HWWHYXOQpUDELOLWp
HVWDFFHQWXpHSDUXQSKpQRPqQHGHFRQYHUJHQFHGHSOXVLHXUVDIIOXHQWV'DQVODYLOOHGH
7XOOH HQWUH OH TXDUWLHU GH O·$X]HORX HW OD FRQIOXHQFH DYHF OH EDVVLQ GH OD 0RQWDQH OD
VXSHUILFLH GX EDVVLQ YHUVDQW GH OD &RUUq]H SDVVH GH NPò j NPò VRLW XQH
DXJPHQWDWLRQGH/RUVGHODFUXHGHOHGpELWGHPVHQUHJLVWUpDX3RQWGHV
6ROGDWVDXJPHQWHGDQVODWUDYHUVpHGH7XOOHSRXUDWWHLQGUHPVDSUqVODFRQIOXHQFH
DYHFOD0RQWDQH
3URJUDPPH3OXULDQQXHOGH*HVWLRQGHVPLOLHX[DTXDWLTXHV
'RVVLHUGH'pFODUDWLRQG·,QWpUrW*pQpUDO
(QWHUPHVGHSUpYHQWLRQGHFUXHO·pWXGHGHODFUXHGHPRQWUHTXHOHVGpODLVSRXU
DOHUWHUOHVDJJORPpUDWLRQVGH7XOOHHW%ULYHVRQWWUqVFRXUWV/HVYLWHVVHVGHSURSDJDWLRQGH
O·RQGHGHFUXHVRQWGHPVVXUOHVHFWHXUDPRQWHWPVHQWUH7XOOHHW%ULYH
2FFXSDWLRQGXVRO
/·pWXGH GH OD EDVH GH GRQQpHV &RULQH /DQG &RYHU SHUPHW XQH SUHPLqUH DSSURFKH GH
O·RFFXSDWLRQ GX VRO GH OD FRPPXQDXWp G·DJJORPpUDWLRQ 7XOOH DJJOR /·DQDO\VH GH FHV
GRQQpHV IDLW UHVVRUWLU XQH SUpGRPLQDQFH GHV VXUIDFHV DJULFROHV FDUDFWpULVWLTXH GHV
WHUULWRLUHVUXUDX[&HSHQGDQWVLOHVVXUIDFHVDUWLILFLDOLVpHVVRQWIDLEOHVOHWDX[GHERLVHPHQW
\HVWWUqVQHWWHPHQWVXSpULHXUjODQRUPDOH
,OHVWSRVVLEOHGHGLVVRFLHUO·HVSDFHLQWHUFRPPXQDOHQGHX[VHFWHXUVELHQGLIIpUHQWV&HX[
FL VRQW GpOLPLWpV VHORQ XQ DUF GH FHUFOH RULHQWp 1RUG2XHVW DOODQW GH OD FRPPXQH GH
%HDXPRQW j FHOOH GH 6DLQW+LODLUH3H\URX[ HQ SDVVDQW SDU 7XOOH 6XU OHV EDVVLQV YHUVDQWV
VLWXpVVXUOHVHFWHXURXHVWODSDUWGHVVXUIDFHVGpGLpHVjO·DJULFXOWXUHYDULHHQWUHHW
GH O·HVSDFH DORUV TXH OH UHVWH GX WHUULWRLUH HVW GRPLQp SDU OHV VXUIDFHV IRUHVWLqUHV TXL
UHSUpVHQWHQWHQPR\HQQHGHO·RFFXSDWLRQGXVRO
/·RFFXSDWLRQGXVROVXUOHWHUULWRLUHGH7XOOHDJJORHVWSUpVHQWpFDUWHSDJHVXLYDQWH
/HWHUULWRLUHHVWYDORULVpSDUO·pOHYDJH
/D SDUW SUpSRQGpUDQWH GHV SUDLULHV GHV VXUIDFHV DJULFROHV LQGLTXH FODLUHPHQW OD
VSpFLDOLVDWLRQGXWHUULWRLUHVXUODSURGXFWLRQG·DQLPDX[G·pOHYDJH
/HVWHUUHVODERXUDEOHVGHVWLQpHVDX[FXOWXUHVLQGXVWULHOOHVDSSDUDLVVHQWFRPPHPDUJLQDOHV
&XPXOpHVDYHFOHVSDUFHOOHVHQYHUJHUVHWOHVSURGXFWLRQVGHSHWLWVIUXLWVHOOHVQ·RFFXSHQW
SDVGHVVXUIDFHVDJULFROHV
&HV WHUUHV PLVHV HQ FXOWXUHV VH WURXYHQW GDQV OHV ]RQHV DJULFROHV KpWpURJqQHV GRPLQpHV
SDU XQ SDUFHOODLUH FRPSOH[H (Q HIIHW OHV JURV DPpQDJHPHQWV IRQFLHUV DFFRPSDJQDQW
JpQpUDOHPHQWOHGpYHORSSHPHQWGHVFXOWXUHVLQGXVWULHOOHVQ·RQWSDVHXOLHX
/DIRUrWRFFXSHXQHSODFHLPSRUWDQWH
$O¶LQVWDUGXGpSDUWHPHQWOHWHUULWRLUHSUpVHQWHXQWDX[GHERLVHPHQWQHWWHPHQWVXSpULHXU
jODPR\HQQHQDWLRQDOH3UHVTXHOHVGHFHVIRUrWVVRQWFRORQLVpHVSDUOHVSHXSOHPHQWV
IHXLOOXV/HVSHXSOHPHQWVGHFRQLIqUHVQHUHSUpVHQWHQWTXHGHVVXUIDFHVERLVpHVHWVH
FRQFHQWUHQWVXUODSDUWLHQRUGHVWGHODFRPPXQDXWpG·DJJORPpUDWLRQ4XDQWDX[IRUrWV
PpODQJpHVHOOHVRFFXSHQWGHVVXUIDFHERLVpHVHWVRQWSULQFLSDOHPHQWLPSODQWpHVVXU
ODSDUWLHHVWGXWHUULWRLUH
6HXOXQSHXSOXVGHGHVVXUIDFHVGHO·HVSDFHLQWHUFRPPXQDOVRQWDUWLILFLDOLVpHVFRQWUH
VXUOHWHUULWRLUHQDWLRQDO
/H WLVVX XUEDLQ UHSUpVHQWH GHV VXUIDFHV DUWLILFLDOLVpHV YRLUH SOXV GHV VL QRXV \
DMRXWRQV OHV GH ]RQHV LQGXVWULHOOHV HW FRPPHUFLDOHV ,O IDXW FHSHQGDQW QRWHU TXH FH
WLVVXXUEDLQVHSUpVHQWHFRPPHXQWLVVXXUEDLQGLVFRQWLQXj
(QILQOHUpVHDXURXWLHUHWIHUURYLDLUHUHSUpVHQWHLFLGHVVXUIDFHVDUWLILFLDOLVpHV0DLVXQH
SDUWLHGHFHVLQIUDVWUXFWXUHVQHUHVVRUWSDVHQWDQWTXHWHOOHFDUHOOHVFRQVWLWXHQWGHVREMHWV
GHPRLQVGHPGHODUJHXU8QHSDUWLHGHFHUpVHDXDGRQFpWpDVVRFLpHjG·DXWUHV
FODVVHVG·RFFXSDWLRQGXVRO
3URJUDPPH3OXULDQQXHOGH*HVWLRQGHVPLOLHX[DTXDWLTXHV
'RVVLHUGH'pFODUDWLRQG·,QWpUrW*pQpUDO
Programme Pluriannuel de Gestion des milieux aquatiques
Dossier de Déclaration d'Intérêt Général
2FFXSDWLRQGXVRO
9
Ech. 1/125 000
Zone à dominance agricole
/HSDWULPRLQHQDWXUHOOLpDX[PLOLHX[DTXDWLTXHVHWKXPLGHV
/·DSSURFKHGHODELRGLYHUVLWpOLpHDX[PLOLHX[KXPLGHVHVWEDVpHVXUO·LQYHQWDLUHGHV=RQHV
1DWXUHOOHV G·,QWpUrW (FRORJLTXH )DXQLVWLTXH HW )ORULVWLTXH =1,()) /DQFp HQ HW
PRGHUQLVpGHSXLVO·LQYHQWDLUHGHV=1,())DSRXUREMHFWLIG·LGHQWLILHUHWGHGpFULUHGHV
VHFWHXUVSUpVHQWDQWGHIRUWHVFDSDFLWpVELRORJLTXHVHWXQERQpWDWGHFRQVHUYDWLRQ&HW
LQYHQWDLUHHVWGHYHQXDXMRXUG·KXLXQGHVpOpPHQWVPDMHXUVGHODSROLWLTXHGHSURWHFWLRQ
GHODQDWXUH
3RXU rWUH SOXV FRPSOHW LO HVW DXVVL LQWpUHVVDQW GH UHFHQVHU OHV FRXUV G·HDX GX WHUULWRLUH
LGHQWLILpV FRPPH GHV D[HV PLJUDWHXUV DLQVL TXH FHX[ FODVVpV HQ WDQW TXH UpVHUYRLU
ELRORJLTXH
/D FDUWH VXLYDQWH SUpVHQWH OHV pOpPHQWV GX SDWULPRLQH QDWXUHO VXU OH WHUULWRLUH GH 7XOOH
DJJOR
/HV=RQHV1DWXUHOOHVG·,QWpUrW(FRORJLTXH)DXQLVWLTXHHW)ORULVWLTXH
2QGLVWLQJXHW\SHVGH=1,())
OHV=1,())GHW\SH,VHFWHXUVGHJUDQGLQWpUrWELRORJLTXHRXpFRORJLTXH
OHV=1,())GHW\SH,,JUDQGVHQVHPEOHVQDWXUHOVULFKHVHWSHXPRGLILpVRIIUDQWGHV
SRWHQWLDOLWpVELRORJLTXHVLPSRUWDQWHV
7\SHGHPLOLHX[ 1RPGHOD=1,()) 7\SH 6XUIDFH &RPPXQHV GH 7XOOH $JJOR
WRWDOH FRQFHUQpHV
9DOOpHV 9DOOpH VXSpULHXUH GH OD KD &RUUq]H9LWUDF0RQWDQH
&RUUq]H
9DOOpHV GH OD &RUUq]H HW KD /HV $QJOHV&RUUq]H %DU %HDXPRQW
GHOD9LPEHOOH 1DYHV 2UOLDFGH%DU 6DLQW6DOYDGRXU
&RUUq]H*LPHOOHV&DVFDGHV
9DOOpHGHOD0RQWDQHYHUV KD *LPHOOHV&DVFDGHV &KDQDFOHV
*LPHO 0LQHV6DLQW0DUWLDOGH*LPHO
9DOORQGHOD9LDOOH KD &KDPH\UDW&RUQLO
%RLVHPHQWV )RUrWGH%ODQFKHIRUW KD /DJUDXOLqUH
(WDQJV (WDQJGH5XIIDXG KD *LPHOOHV&DVFDGHV 6DLQW3ULHVWGH
*LPHO
(WDQJGX9LFRPWH KD &KDPERXOLYH
(WDQJV GH OD UpJLRQ GH KD 6DLQW0DUWLDOGH*LPHO 6DLQW3ULHVWGH
&OHUJRX[ *LPHO
=RQHV+XPLGHV 0DUDLVGX%UH]RX KD &KDQWHL[/DJUDXOLqUH6DLQW&OpPHQW
)RQGV WRXUEHX[ GH 9LWUDF KD 9LWUDFVXU0RQWDQH
VXU0RQWDQH
3URJUDPPH3OXULDQQXHOGH*HVWLRQGHVPLOLHX[DTXDWLTXHV
'RVVLHUGH'pFODUDWLRQG·,QWpUrW*pQpUDO
6XU7XOOHDJJOROHVVLWHVLGHQWLILpVFRPPHUHPDUTXDEOHVVRQWOLpVDX[PLOLHX[DTXDWLTXHV
RXKXPLGHV/·HQVHPEOHGHVVHFWHXUVLQYHQWRULpVUHSUpVHQWHQWHQYLURQNPòVRLWGX
WHUULWRLUH&HUWDLQHVGHFHV]RQHVIRQWO·REMHWG·XQHJHVWLRQFRQVHUYDWRLUH&·HVWOHFDVGX
PDUDLVGX%UH]RXHWGHOD)RUrWGH%ODQFKHIRUWSRXUOHVTXHOVOH&RQVHUYDWRLUHGHV(VSDFHV
1DWXUHOVGX/LPRXVLQDPLVHQSODFHXQSODQGHJHVWLRQ/HFRQVHUYDWRLUHLQWHUYLHQWDXVVL
GDQV OH FDGUH OD &HOOXOH G·$VVLVWDQFH 7HFKQLTXH j OD JHVWLRQ GHV =RQHV +XPLGHV VXU OD
]RQHGHVpWDQJVGH&OHUJRX[(QILQOH&HQWUH3HUPDQHQWG·,QLWLDWLYH3RXUO·(QYLURQQHPHQW
HVWFKDUJpGHODPLVHHQ±XYUHGXGRFXPHQWG·REMHFWLIVGXVLWH1DWXUDGHODYDOOpH
GHOD0RQWDQHYHUV*LPHO
5pVHUYRLUELRORJLTXHHWD[HVPLJUDWHXUV
$XVHQVGXGX,GHO DUWLFOH/GXFRGHGHO HQYLURQQHPHQWRQGpILQLWXQUpVHUYRLU
ELRORJLTXH FRPPH ©XQ FRXUV G HDX XQH SDUWLH GH FRXUV G HDX RX XQ FDQDO TXL
FRPSUHQG XQH RX SOXVLHXUV ]RQHV GH UHSURGXFWLRQ RX G KDELWDW GHV HVSqFHV GH
SK\WRSODQFWRQV GH PDFURSK\WHV HW GH SK\WREHQWKRV GH IDXQH EHQWKLTXH LQYHUWpEUpH
RXG LFKW\RIDXQHHWSHUPHWWDQWOHXUUpSDUWLWLRQGDQVXQRXSOXVLHXUVFRXUVG HDXGXEDVVLQ
YHUVDQWª
6XU O·DJJORPpUDWLRQ GH WXOOH NP GH FRXUV G·HDX RQW pWp FODVVpV FRPPH UpVHUYRLU
ELRORJLTXH(WRQQDPPHQWOD&RUUq]HTXLUHOLHXQJUDQGQRPEUHGHFHVFRXUVG·HDXQ·HVW
SDVFODVVpHHQUpVHUYRLUELRORJLTXH
/H EDVVLQ GH OD 'RUGRJQH HVW HQFRUH SDUWLHOOHPHQW FRORQLVp SDU GHV PLJUDWHXUV
DPSKLKDOLQV3DUPLFHVJUDQGVPLJUDWHXUVOHVDXPRQDWODQWLTXHO·DQJXLOOHHXURSpHQQHHW
OD WUXLWH GH PHU VHUDLHQW VXVFHSWLEOHV GH SRXYRLU UpDOLVHU XQH SDUWLH GH OHXU F\FOH
ELRORJLTXH VXU FHUWDLQV FRXUV G·HDX GX WHUULWRLUH /HV FRXUV G·HDX LGHQWLILpV FRPPH
SRWHQWLHOOHPHQWIDYRUDEOHVRQWpWpFODVVpVFRPPHD[HVJUDQGVPLJUDWHXUV,OV·DJLWGH
ವ /H0DXPRQWEODQF
ವ /HPDXPRQWQRLU
ವ /D&RUUq]H
ವ /D9LPEHOOH
ವ /D0RQWDQHMXVTX·DX&DVFDGHGH*LPHO
ವ /D6DLQW%RQQHWWH
ವ /D6RXYLJQH
/HVKDELWDWVHWHVSqFHVUHPDUTXDEOHV
/HVKDELWDWVHWOHVHVSqFHVSUpVHQWpVGDQVOHVWDEOHDX[VXLYDQWVVRQWLVVXVG·XQHV\QWKqVH
GH O·LQYHQWDLUH =1,()) GX GLDJQRVWLF SDWULPRQLDO GHV FRXUV G·HDX FRPPXQDXWDLUH HW GX
SODQGHJHVWLRQGHODYDOOpHGX%UH]RXUpDOLVpSDUOH&(1/LPRXVLQ
3URJUDPPH3OXULDQQXHOGH*HVWLRQGHVPLOLHX[DTXDWLTXHV
'RVVLHUGH'pFODUDWLRQG·,QWpUrW*pQpUDO
/HVKDELWDWV
/H WDEOHDX FLGHVVRXV LQGLTXH OHV KDELWDWV OLpV DX[ PLOLHX[ DTXDWLTXHV SUpVHQWV VXU OH
WHUULWRLUH(QURXJHVRQWSUpFLVpVOHVKDELWDWVG·LQWpUrWFRPPXQDXWDLUH
/ŶƚĠƌġƚĂƵ
/ŶƚĠƌġƚ /ŶƚĠƌġƚ /ŶƚĠƌġƚ
&ŽƌŵĂƚŝŽŶǀĠŐĠƚĂůĞ ƌĞŐĂƌĚĚĞƐ
ĨůŽƌŝƐƚŝƋƵĞ ĨĂƵŶŝƐƚŝƋƵĞ ŐůŽďĂů
ŚĂďŝƚĂƚƐ
ϮϮ͘ϭĂƵdžĚŽƵĐĞƐ
ϮϮ͘ϭϭĂƵdžŽůŝŐŽƚƌŽƉŚĞƐƉĂƵǀƌĞƐĞŶĐĂůĐĂŝƌĞ ΎΎΎ ΎΎΎ ΎΎΎ
DŝůŝĞƵdž
ĂƋƵĂƚŝƋƵĞƐ ϮϮ͘ϰϯϭdĂƉŝƐĨůŽƚƚĂŶƚĚĞǀĠŐĠƚĂƵdžăŐƌĂŶĚĞƐĨĞƵŝůůĞƐ ΎΎΎ ΎΎΎ ΎΎ ΎΎΎ
Ϯϰ͘ϭ>ŝƚƐĚĞƐƌŝǀŝğƌĞƐ
Ϯϰ͘ϭϮŽŶĞădƌƵŝƚĞƐ ΎΎ ΎΎΎ ΎΎΎ
ϯϭ͘ϭ͗>ĂŶĚĞƐŚƵŵŝĚĞƐ ΎΎΎ ΎΎΎ ΎΎΎ ΎΎΎ
ϯϳ͘ϭ͗ŽŵŵƵŶĂƵƚĠƐăƌĞŝŶĞĚĞƐƉƌĠƐĞƚĐŽŵŵƵŶĂƵƚĠƐĂƐƐŽĐŝĠĞƐ ΎΎΎ ΎΎΎ ΎΎΎ ΎΎΎ
ϯϳ͘ϮWƌĂŝƌŝĞƐŚƵŵŝĚĞƐĞƵƚƌŽƉŚĞƐ
>ĂŶĚĞƐĞƚ
ϯϳ͘Ϯϭ͗WƌĂŝƌŝĞƐŚƵŵŝĚĞƐĂƚůĂŶƚŝƋƵĞƐĞƚƐƵďͲĂƚůĂŶƚŝƋƵĞƐ ΎΎΎ ΎΎΎ ΎΎΎ ΎΎΎ
ƉƌĂŝƌŝĞƐ
ϯϳ͘ϯϭϮ͗WƌĂŝƌŝĞƐăŵŽůŝŶŝĞĂĐŝĚŝƉŚŝůĞƐ ΎΎΎ ΎΎΎ ΎΎ ΎΎΎ
ŚƵŵŝĚĞƐ
ϯϳ͘ϳϭ͗sŽŝůĞƐĚĞƐĐŽƵƌƐĚΖĞĂƵ ΎΎΎ ΎΎΎ ΎΎΎ ΎΎΎ
ϯϳ͘ϳϭϱ͗KƵƌůĞƚƐƌŝǀĞƌĂŝŶƐŵŝdžƚĞƐ ΎΎΎ ΎΎΎ ΎΎΎ ΎΎΎ
ϯϳ͘ϴDĠŐĂƉŚŽƌďŝĂŝĞƐĂůƉŝŶĞƐĞƚƐƵďĂůƉŝŶĞƐ
ϰϭ͘Ϯ͗ŚġŶĂŝĞƐͲĐŚĂƌŵĂŝĞƐ
ϰϭ͘Ϯϯ͗&ƌġŶĂŝĞƐͲĐŚġŶĂŝĞƐƐƵďͲĂƚůĂŶƚŝƋƵĞƐăƉƌŝŵĞǀğƌĞ ΎΎΎ ΎΎ ΎΎ ΎΎΎ
ϰϭ͘Ϯϰ͗ŚġŶĂŝĞƐͲĐŚĂƌŵĂŝĞƐă^ƚĞůůĂŝƌĞƐƵďͲĂƚůĂŶƚŝƋƵĞƐ ΎΎΎ ΎΎ ΎΎ ΎΎΎ
&ŽƌġƚƐŚƵŵŝĚĞƐ ϰϰ͘ϭ&ŽƌŵĂƚŝŽŶƐƌŝǀĞƌĂŝŶĞƐĚĞ^ĂƵůĞƐ
Ğƚ ϰϰ͘ϯ͗&ŽƌġƚĚĞĨƌġŶĞƐĞƚĚΖĂƵůŶĞƐĚĞƐĨůĞƵǀĞƐŵĠĚŝŽͲĞƵƌŽƉĠĞŶƐ ΎΎΎ ΎΎ ΎΎΎ ΎΎΎ
ŵĂƌĠĐĂŐĞƵƐĞƐ ϰϰ͘ϯϭ͗&ŽƌġƚƐĚĞĨƌġŶĞƐĞƚĚΖƵůŶĞƐĚĞƐƌƵŝƐƐĞůĞƚƐĞƚĚĞƐƐŽƵƌĐĞƐ ΎΎΎ ΎΎ ΎΎΎ ΎΎΎ
ϰϰ͘ϯϭϮ͗&ŽƌġƚƐĚĞ&ƌġŶĞƐĞƚĚΖƵůŶĞƐĨŽŶƚŝŶĂůĞƐ ΎΎΎ ΎΎ ΎΎΎ ΎΎΎ
ϰϰ͘ϯϯϮ͗ŽŝƐĚĞ&ƌġŶĞƐĞƚĚΖƵůŶĞƐăŚĂƵƚĞƐŚĞƌďĞƐ ΎΎΎ ΎΎ ΎΎΎ ΎΎΎ
ϰϰ͘ϵŽŝƐŵĂƌĠĐĂŐĞƵdžĚΖƵůŶĞ͕ĚĞ^ĂƵůĞĞƚĚĞDLJƌƚĞĚĞƐŵĂƌĂŝƐ
ϱϭ͘ϮdŽƵƌďŝğƌĞƐăDŽůŝŶŝĞďůĞƵĞ
ϱϯ͘ϭ͗ZŽƐĞůŝğƌĞƐ ΎΎΎ Ύ ΎΎΎ ΎΎΎ
ϱϯ͘ϭϭϭ͗WŚƌĂŐŵŝƚĂŝĞƐŝŶŽŶĚĠĞƐ ΎΎΎ Ύ ΎΎΎ ΎΎΎ
ϱϯ͘ϭϭϮ͗WŚƌĂŐŵŝƚĂŝĞƐƐğĐŚĞƐ ΎΎΎ Ύ ΎΎΎ ΎΎΎ
ϱϯ͘ϭϰ͗ZŽƐĞůŝğƌĞƐďĂƐƐĞƐ ΎΎΎ ΎΎ ΎΎΎ ΎΎΎ
dŽƵƌďŝğƌĞƐĞƚ ϱϯ͘ϭϰϳ͗ŽŵŵƵŶĂƵƚĠƐĚĞƉƌġůĞƐĚΖĞĂƵ ΎΎΎ Ύ ΎΎ ΎΎ
ŵĂƌĂŝƐ ϱϯ͘ϮŽŵŵƵŶĂƵƚĠƐăŐƌĂŶĚĞƐ>ĂŠĐŚĞƐ
ϱϯ͘Ϯϭϰ͗ĂƌŝĕĂŝĞƐăĂƌĞdžƌŽƐƚƌĂƚĂĞƚăĂƌĞdžǀĞƐŝĐĂƌŝĂ ΎΎΎ ΎΎ ΎΎ ΎΎ
ϱϰ͘ϭϭ͗^ŽƵƌĐĞƐĚΖĞĂƵdžĚŽƵĐĞƐƉĂƵǀƌĞƐĞŶďĂƐĞƐ ΎΎΎ ΎΎ ΎΎ ΎΎ
ϱϰ͘ϰϮϮ͗ĂƐͲŵĂƌĂŝƐƐƵďͲĂƚůĂŶƚŝƋƵĞƐăĂƌĞdžŶŝŐƌĂ͕͘ĐĂŶĞƐĐĞŶƐĞƚ͘ĞĐŚŝŶĂƚĂ
ΎΎΎ ΎΎ ΎΎ ΎΎ
ϱϰ͘ϱdŽƵƌďŝğƌĞƐĚĞƚƌĂŶƐŝƚŝŽŶ
ϱϰ͘ϲŽŵŵƵŶĂƵƚĠƐăZŚLJŶĐŚŽƐƉŽƌĂĂůďĂ
/HVHVSqFHVUHPDUTXDEOHV
/HVHVSqFHVUHPDUTXDEOHVGXWHUULWRLUHVRQWSUpVHQWpHVGDQVOHWDEOHDXFLDSUqV
3URJUDPPH3OXULDQQXHOGH*HVWLRQGHVPLOLHX[DTXDWLTXHV
'RVVLHUGH'pFODUDWLRQG·,QWpUrW*pQpUDO
DŝůŝĞƵdžĨŽƌĞƐƚŝĞƌƐ ĂƵdžůŝďƌĞƐ DŝůŝĞƵdžŽƵǀĞƌƚƐ
>ŝƐƚĞƌŽƵŐĞŶĂƚŝŽŶĂůĞ
ŝƌĞĐƚŝǀĞŚĂďŝƚĂƚ
ŝƌĞĐƚŝǀĞŽŝƐĞĂƵ
ŵĞŐĂƉŚŽƌďŝĂŝĞƐ
ůĂŶĚĞƐŚƵŵŝĚĞƐ
ƉƌĂŝƌŝĞŚƵŵŝĚĞ
ŵĂƌĠĐĂŐĞƵƐĞƐ
ĨŽƌġƚŚƵŵŝĚĞ
ďŽƌĚĚΖĠƚĂŶŐ
ƐƵŝŶƚĞŵĞŶƚ
ĂƐŵĂƌĂŝƐ
ƚŽƵƌďŝğƌĞƐ
ƌŽƐĞůŝğƌĞƐ
ďŽƌĚƐĚĞ
^ƚĂƚƵƚ
ƌƵŝƐƐĞĂƵdž
ZŝƉŝƐLJůǀĞ
ĐĂƌŝĕĂŝĞƐ
&ŽƌġƚƐ
ZŝǀŝğƌĞ
DĂƌĂŝƐ
EŽŵƐĐŝĞŶƚŝĨŝƋƵĞ EŽŵǀĞƌŶĂĐƵůĂŝƌĞ
&ůŽƌĞ
ŶĚƌŽŵĞĚĂƉŽůŝĨŽůŝĂ ŶĚƌŽŵğĚĞ EĂƚ͘ y
ĂƌĞdžƉĂƵĐŝĨůŽƌĂ >ĂŠĐŚĞƉĂƵĐŝĨůŽƌĞ ZĠŐ͘ y
ŽƌŽŶŝĐƵŵƉĂƌĚĂůŝĂŶĐŚĞƐ ŽƌŽŶŝĐăĨĞƵŝůůĞƐĐŽƌĚĠĞƐ ZĠŐ͘ y y y
ƌŽƐĞƌĂŝŶƚĞƌŵĞĚŝĂ ZŽƐƐŽůŝƐŝŶƚĞƌŵĠĚŝĂŝƌĞ EĂƚ͘ > y
ƌŽƐĞƌĂƌŽƚƵŶĚŝĨŽůŝĂ ZŽƐƐŽůŝƐăĨĞƵŝůůĞƐƌŽŶĚĞƐ EĂƚ͘ y
'ĞŶƚŝĂŶĂƉŶĞƵŵŽŶĂŶƚŚĞ WƵůŵŽŶĂŝƌĞĚĞƐŵĂƌĂŝƐ ZĠŐ͘ y y y
'LJŵŶŽĐĂƌƉŝƵŵĚƌLJŽƉƚĞƌŝƐ WŽůLJƉŽĚĞĚƵĐŚġŶĞ Ϯϯ͕ϴϳ y y
,LJƉĞƌŝĐƵŵĂŶĚƌŽƐĂĞŵƵŵ DŝůůĞƉĞƌƚƵŝƐŶĚƌŽƐğŵĞ Ϯϯ͕ϴϳ y y y
>ŝƚƚŽƌĞůůĂƵŶŝĨůŽƌĂ >ŝƚƚŽƌĞůůĞĚĞƐĠƚĂŶŐƐ EĂƚ͘ y y
>ƵƌŽŶŝƵŵŶĂƚĂŶƐ &ůƸƚĞĂƵŶĂŐĞĂŶƚ EĂƚ͘ Ŷ//͕/s > y y
>LJĐŽƉŽĚŝĞůůĂŝŶƵŶĚĂƚĂ >LJĐŽƉŽĚĞĚĞƐƚŽƵƌďŝğƌĞƐ EĂƚ͘ Ed y
KƉŚŝŽŐůŽƐƐƵŵǀƵůŐĂƚƵŵ ŽƉŚŝŽŐůŽƐƐĞĐŽŵŵƵŶ͕>ĂŶŐƵĞĚĞƐĞƌƉĞŶƚ
ZĠŐ͘ y y y
WĂƌŝƐƋƵĂĚƌŝĨŽůŝĂ WĂƌŝƐĞƚƚĞăƋƵĂƚƌĞĨĞƵŝůůĞƐ ZĠŐ͘ y y
WĞĚŝĐƵůĂƌŝƐƉĂůƵƐƚƌŝƐ WĠĚŝĐƵůĂŝƌĞĚĞƐŵĂƌĂŝƐ ZĠŐ͘ y y y
dƌŝĐŚŽŵĂŶĞƐƐƉĞĐŝŽƐƵŵ dƌŝĐŚŽŵĂŶĞƐƌĞŵĂƌƋƵĂďůĞ EĂƚ͘ Ŷ//͕/s > y
hƚƌŝĐƵůĂƌŝĂǀƵůŐĂƌŝƐ hƚƌŝĐƵůĂŝƌĞĐŽŵŵƵŶĞ ZĠŐ͘ y y y
>ĠƉŝĚŽƉƚğƌĞƐ
ƵƉŚLJĚƌLJĂƐĂƵƌŝŶŝĂ ĂŵŝĞƌĚĞůĂ^ƵĐĐŝƐĞ W Ŷ// > y y y
>LJĐĂĞŶĂĚŝƐƉĂƌ ƵŝǀƌĠĚĞƐŵĂƌĂŝƐ W Ŷ//͕/s > y y y
KĚŽŶĂƚĞ
ŽĞŶĂŐƌŝŽŶŵĞƌĐƵƌŝĂůĞ ŐƌŝŽŶĚĞDĞƌĐƵƌĞ W Ŷ// Ed y
ĠĐĂƉŽĚĞ
ƵƐƚƌŽƉŽƚĂŵŽďŝƵƐƉĂůůŝƉĞƐ ĐƌĞǀŝƐƐĞăƉĂƚƚĞƐďůĂŶĐŚĞƐ W Ŷ//͕s sh y
ŝǀĂůǀĞ
DĂƌŐĂƌŝƚŝĨĞƌĂŵĂƌŐĂƌŝƚŝĨĞƌĂ ŵŽƵůĞƉĞƌůŝğƌĞ W Ŷ//͕s sh y
WŽŝƐƐŽŶƐ
>ĂŵƉĞƚƌĂƉůĂŶĞƌŝ >ĂŵƉƌŽŝĞĚĞWůĂŶĞƌ W Ŷ// > y y
^ĂůŵŽƐĂůĂƌ ^ĂƵŵŽŶĂƚůĂŶƚŝƋƵĞ W Ŷ//͕s sh y
^ĂůŵŽƚƌƵƚƚĂĨĂƌŝŽ dƌƵŝƚĞĚĞƌŝǀŝğƌĞ W y
dŚLJŵĂůůƵƐƚŚLJŵĂůůƵƐ KŵďƌĞĐŽŵŵƵŶ W Ŷs sh y
ŵƉŚŝďŝĞŶƐ
ůLJƚĞƐŽďƐƚĞƚƌŝĐĂŶƐ ĐƌĂƉĂƵĚĂĐĐŽƵĐŚĞƵƌ W Ŷ/s > y y y
ŽŵďŝŶĂǀĂƌŝĞŐĂƚĂ ^ŽŶŶĞƵƌăǀĞŶƚƌĞũĂƵŶĞ W Ŷ//͕/s sh y y y y
ZĂŶĂĚĂůŵĂƚŝŶĂ 'ƌĞŶŽƵŝůůĞĂŐŝůĞ W Ŷ/s > y y
ZĂŶĂƚĞŵƉŽƌĂƌŝĂ 'ƌĞŶŽƵŝůůĞƌŽƵƐƐĞ W Ŷs > y y y y
ZĞƉƚŝůĞƐ
EĂƚƌŝdžŶĂƚƌŝdž ŽƵůĞƵǀƌĞăĐŽůůŝĞƌ W Ŷ/s > y y
EĂƚƌŝdžŵĂƵƌĂ ŽƵůĞƵǀƌĞǀŝƉĠƌŝŶĞ W > y y
KŝƐĞĂƵdž
ĐƌŽĐĞƉŚĂůƵƐƐĐŝƌƉĂĞƵƐ ZŽƵƐƐĞƌŽůůĞĞĨĨĂƌǀĂƚƚĞ W > y y
ŶĂƐĐƌĞĐĐĂ ^ĂƌĐĞůůĞĚΖŚŝǀĞƌ sh y y y
ĐƌŽĐĞƉŚĂůƵƐƐĐŚŽĞŶŽďĂĞŶƵƐWŚƌĂŐŵŝƚĞĚĞƐũŽŶĐƐ W y y y
ZĂůůƵƐĂƋƵĂƚŝĐƵƐ ZąůĞĚΖĞĂƵ y y y y y
ůĐĞĚŽĂƚƚŚŝƐ DĂƌƚŝŶͲƉġĐŚĞƵƌ W > K y y
ŶƚŚƵƐƉƌĂƚĞŶƐŝƐ WŝƉŝƚĨĂƌůŽƵƐĞ W y y y y y
'ĂůůŝŶĂŐŽŐĂůůŝŶĂŐŽ ĠĐĂƐƐŝŶĞĚĞƐŵĂƌĂŝƐ K y y y y y
ŝŶĐůƵƐĐŝŶĐůƵƐ ŝŶĐůĞƉůŽŶŐĞƵƌ W > y
DĂŵŵŝĨğƌĞƐ
ĂƌďĂƐƚĞůůĂďĂƌďĂƐƚĞůůƵƐ ĂƌďĂƐƚĞůůĞ W Ŷ//͕/s > y y y
DLJŽƚŝƐĞŵĂƌŐŝŶĂƚƵƐ DƵƌŝŶăŽƌĞŝůůĞƐĠĐŚĂŶĐƌĠĞƐ W Ŷ//͕/s > y y
'ĞŶĞƚƚĂŐĞŶĞƚƚĂ 'ĞŶĞƚƚĞ W Ŷ/s > y y y y
>ƵƚƌĂůƵƚƌĂ >ŽƵƚƌĞĚΖƵƌŽƉĞ W E//͕/s > y y y y
EĞŽŵLJƐĨŽĚŝĞŶƐ DƵƐĂƌĂŝŐŶĞĂƋƵĂƚŝƋƵĞ W > y y y y
6WDWXWOpJDO
33URWpJp
&&KDVVDEOH
16XVFHSWLEOHG rWUHFODVVpQXLVLEOH
'LUHFWLYH+DELWDWV
$Q$QQH[HGHOD'LUHFWLYH+DELWDWV
$Q$QQH[HGHOD'LUHFWLYH+DELWDWV
/HVFDWpJRULHV8,&1SRXUOD/LVWHURXJH
(VSqFHVPHQDFpHVGH 989XOQpUDEOH
GLVSDULWLRQ
$XWUHVFDWpJRULHV 174XDVLPHQDFpH HVSqFHSURFKHGXVHXLOGHVHVSqFHVPHQDFpHVRXTXLSRXUUDLWrWUH
PHQDFpHVLGHVPHVXUHVGHFRQVHUYDWLRQVSpFLILTXHVQ pWDLHQWSDVSULVHV
/&3UpRFFXSDWLRQPLQHXUH HVSqFHSRXUODTXHOOHOHULVTXHGHGLVSDULWLRQGH)UDQFHHVW
IDLEOH
'''RQQpHVLQVXIILVDQWHV HVSqFHSRXUODTXHOOHO pYDOXDWLRQQ DSXrWUHUpDOLVpHIDXWHGH
GRQQpHVVXIILVDQWHV
3URJUDPPH3OXULDQQXHOGH*HVWLRQGHVPLOLHX[DTXDWLTXHV
'RVVLHUGH'pFODUDWLRQG·,QWpUrW*pQpUDO
Programme Pluriannuel de Gestion des milieux aquatiques
Dossier de Déclaration d'Intérêt Général
3DWULPRLQHQDWXUHO
10
Ech. 1/125 000
re
la mad
zè
range
vé
la
rd
lla
ui
le r ro
ujo
ux du
u
ea
ss
r ui
le y ge
ou
tro
h la d
e
urett
la bo
z e
la vimbelle
rrè
de co
au la
men
la
le brezou ne
ta
on
m
rui la
sse
au
d el
ar
od
e
la s
lanc
mont b
olan
le mau
e
la c
éro
oir
tn
nen
on
ert
le salab
m
au
m
le
rs
va
fa s se
de Tay
e de
uz u
co sea
la la saint- ruis
bonnett
e
ze
orrè
la c Tulle agglo
Territoire de gestion
u ze
la
Cours d'eau
la co
ga
ru Réservoir biologique
ne
is
tte
se
au Axe migrateurs
du la ZNIEFF de type 1
m ron
az de
rui et lle ZNIEFF de type 2
sse
au
de Site Natura 2000
bra
u ze Sites classés
la
ru
so
iss
Sites inscrits
e
uv
ea
in
le
ign
u
va
de
x
la
ou
la
oir
sa
iss
e
ea
u Appel à projet zones humides du CEN
de
m
éj o
u Source : Bd Topo (IGN 2008) ; SIE Adour-Garonne ; DREAL ; CEN Limousin
/HVLWH1DWXUDGHODYDOOpHGHOD0RQWDQH
/HVLWHQDWXUDGHODYDOOpHGHOD0RQWDQHV pWHQGVXUKDjO DYDOLPPpGLDWGHV
FDVFDGHVGH*LPHO,OVHSUpVHQWHFRPPHXQHYDOOpHHQFDLVVpHGRPLQpHSDUOHVOLJQHX[
RODFKrQDLHFKDUPDLHRFFXSHGHODVXUIDFH&HWWHIRUPDWLRQERLVpHDIIHFWLRQQH
VXUWRXWOHVVROVIUDLVHWpSDLVLVVXVGHVFROOXYLRQV6XUOHVLWHHOOHV HVWVXUWRXWGpYHORSSpHVXU
OHYHUVDQW1RUGGHODYDOOpH
/H GHX[LqPH KDELWDW j WHQGDQFH KXPLGH HVW EHDXFRXS SOXV DQHFGRWLTXH VXU OH VLWH ,O
V DJLW G XQHYpJpWDWLRQ SOXW{WpSDUVHTXLFRORQLVH OHV SDURLVURFKHXVHV DEUXSWHV Oj ROH
VRO WUqV SHX GpYHORSSp &HW KDELWDW QRPPp YpJpWDWLRQ FKDVPRSK\WLTXH GHV SHQWHV
URFKHXVHV SHXW SUpVHQWHU GHX[ IDFLHV GLIIpUHQWV VHORQ OHV FRQGLWLRQV G K\JURPpWULH HW
G H[SRVLWLRQDXVROHLO&HW\SHGHYpJpWDWLRQUHSUpVHQWHjSHLQHKDGHVXUIDFHWRWDOH
0DLVLOHVWO XQGHVWURLVKDELWDWVG LQWpUrWFRPPXQDXWDLUHUHFHQVpVVXUOHVLWH
3DUPL OHV HVSqFHV IORULVWLTXHV UHPDUTXDEOHV VHXO OH 7ULFKRPDQHV VSHFLRVXP TXL UHOqYH GH
O DQQH[H ,, GH OD GLUHFWLYH KDELWDW HVW OLp DX[ KDELWDWV KXPLGHV ,O V DJLW G XQH IRXJqUH
WURXYpH GDQV XQH FDYLWp R VH PDLQWLHQQHQW XQH KXPLGLWp LPSRUWDQWH HW GHV
WHPSpUDWXUHVFOpPHQWHV
/ LQIOXHQFH GH OD 0RQWDQH VXU OD ELRGLYHUVLWp VH IDLW SOXV VHQWLU VXU OH FRUWqJH IDXQLVWLTXH
3DUPLOHVHVSqFHVSUpVHQWHVVXUOHVLWHHWUHOHYDQWGHO DQQH[H,,GHODGLUHFWLYHKDELWDW
VRQWLQIpRGpVDXFRXUVG HDX
ವ ODORXWUHHWODEDUEDVWHOOH
ವ OH&KDERWHWODODPSURLHGHSODQHU
ವ OH&LQFOHSORQJHXU
/HV UHFRPPDQGDWLRQV pPLVHV GDQV OH GRFXPHQW G REMHFWLIV YLVHQW SULQFLSDOHPHQW OD
FRQVHUYDWLRQGHVKDELWDWVIRUHVWLHUVHWOHPDLQWLHQGHVDUEUHVVpQHVFHQWV/RUVO HQWUHWLHQGH
ODULSLV\OYHXQHDWWHQWLRQSDUWLFXOLqUHGRLWrWUHDSSRUWpHjODJHVWLRQGHVHQFRPEUHVFDU
LOVMRXHQWXQU{OHLPSRUWDQWGDQVODGLYHUVLWpGHVKDELWDWVDTXDWLTXHV
=RQHVKXPLGHV
'pILQLWLRQ
/HV]RQHVKXPLGHVVRQWGpILQLHVGDQVODORLVXUO·HDXGXMDQYLHU DUWLFOH/,GX
&RGH GH O·(QYLURQQHPHQW FRPPH GHV © WHUUDLQV H[SORLWpV RX QRQ KDELWXHOOHPHQW
LQRQGpV RX JRUJpV G HDX GRXFH VDOpH RX VDXPkWUH GH IDoRQ SHUPDQHQWH RX
WHPSRUDLUH ODYpJpWDWLRQ TXDQG HOOH H[LVWH \ HVW GRPLQpH SDU GHV SODQWHV K\JURSKLOHV
SHQGDQWDXPRLQVXQHSDUWLHGHO DQQpHª
/DUpJOHPHQWDWLRQ
$SUqVODORLVXUODSURWHFWLRQGHODQDWXUHYRWpHHQLOIDXWDWWHQGUHODORLSrFKHGH
SRXUTXHODSURWHFWLRQGHVPLOLHX[DTXDWLTXHVVRLWUHFRQQXHG·LQWpUrWJpQpUDO
/D GpILQLWLRQ GHV ]RQHV KXPLGHV HQ WDQW TXH WHOOHV DSSDUDvW HQ GDQV OD ORL VXU O·HDX
FLWpH FLGHVVXV /HXU SUpVHUYDWLRQ VHUD DERUGpH GDQV OD ORL VXU OH GpYHORSSHPHQW GHV
WHUULWRLUHV UXUDX[ '75 HQ DLQVL TXH OHXU SULVH HQ FRPSWH GDQV OHV SROLWLTXHV
G·DPpQDJHPHQW
©/DSUpVHUYDWLRQHWODJHVWLRQGXUDEOHGHV]RQHVKXPLGHVGpILQLHVjO·DUWLFOH/VRQW
G·LQWpUrWJpQpUDO«
3URJUDPPH3OXULDQQXHOGH*HVWLRQGHVPLOLHX[DTXDWLTXHV
'RVVLHUGH'pFODUDWLRQG·,QWpUrW*pQpUDO
/HV SROLWLTXHV QDWLRQDOHV UpJLRQDOHV HW ORFDOHV G·DPpQDJHPHQW GHV WHUULWRLUHV UXUDX[ HW
O·DWWULEXWLRQ GHV DLGHV SXEOLTXHV WLHQQHQW FRPSWH GHV GLIILFXOWpV SDUWLFXOLqUHV GH
FRQVHUYDWLRQ G·H[SORLWDWLRQ HW GH JHVWLRQ GXUDEOH GHV ]RQHV KXPLGHV HW GH OHXU
FRQWULEXWLRQDX[SROLWLTXHVGHSUpVHUYDWLRQGHODGLYHUVLWpELRORJLTXHGXSD\VDJHGH
JHVWLRQ GHV UHVVRXUFHV HQ HDX HW GH SUpYHQWLRQ GHV LQRQGDWLRQV QRWDPPHQW SDU XQH
DJULFXOWXUH XQ SDVWRUDOLVPH XQH V\OYLFXOWXUH XQH FKDVVH XQH SrFKH HW XQ WRXULVPH
DGDSWpV $ FHW HIIHW O·eWDW HW VHV pWDEOLVVHPHQWV SXEOLFV OHV UpJLRQV OHV
GpSDUWHPHQWVOHVFRPPXQHVHWOHXUVJURXSHPHQWVYHLOOHQWFKDFXQGDQVVRQGRPDLQH
GHFRPSpWHQFHjODFRKpUHQFHGHVGLYHUVHVSROLWLTXHVSXEOLTXHVVXUFHVWHUULWRLUHV
3RXU O·DSSOLFDWLRQ GH O·DUWLFOH / O·eWDW YHLOOH j OD SULVH HQ FRPSWH GH FHWWH
FRKpUHQFHGDQVOHVVFKpPDVG·DPpQDJHPHQWHWGHJHVWLRQGHVHDX[ª
/HVIRQFWLRQVGHV]RQHVKXPLGHV
/HV VHUYLFHVUHQGXVSDU OHV ]RQHV KXPLGHVVRQW VRXYHQW PpFRQQXVRX VRXVHVWLPpV 6XUOH
SODQSD\VDJHUHOOHVRIIUHQWGHVSD\VDJHVWUqVFRQWUDVWpVGRQWO·RULJLQDOLWpHVWVRXYHQWPLVH
HQDYDQWGDQVODSURPRWLRQWRXULVWLTXH(OOHVVRQWDXVVLGHVVXSSRUWVSRXUGHVDFWLYLWpVGH
SOHLQHQDWXUHFRPPHODSrFKHODFKDVVHHWODUDQGRQQpH
'DQV OHV ]RQHV G·pOHYDJH OHV SUDLULHV KXPLGHV FRQVWLWXHQW GHV UpVHUYHV IRXUUDJqUHV
SDUWLFXOLqUHPHQWLQWpUHVVDQWHVHQSpULRGHGHVpFKHUHVVH
(QWDQWTXHPLOLHX[GHWUDQVLWLRQHQWUHOHEDVVLQYHUVDQWHWO·HDXOLEUHHOOHVMRXHQWDXVVLGHV
U{OHVLPSRUWDQWVVXUODJHVWLRQTXDOLWDWLYHHWTXDQWLWDWLYHGHO·HDX
IRQFWLRQVK\GURORJLTXHV(QSpULRGHKLYHUQDOHFHVPLOLHX[IRUWHPHQWFRQQHFWpVDYHF
OHVFRXUVG·HDXVHJRUJHQWG·HDXVRLWSDUGpERUGHPHQWVRLWSDUDEVRUSWLRQ'HVYROXPHV
LPSRUWDQWVVRQWDORUVVWRFNpVHWVHURQWUHVWLWXpVDX[ULYLqUHVORUVGHODSpULRGHG·pWLDJH/HV
]RQHVKXPLGHVMRXHQWDLQVLXQU{OHGHUpJXODWLRQGHVUpJLPHVK\GURORJLTXHVHQOLPLWDQWOHV
SKpQRPqQHVH[WUrPHV
IRQFWLRQV SK\VLTXHV HW ELRJpRFKLPLTXHV TXDQG FHV PLOLHX[ VRQW FRORQLVpV SDU OD
YpJpWDWLRQ K\JURSKLOH TXL OHV FDUDFWpULVH OHV ]RQHV KXPLGHV MRXHQW XQ U{OH GDQV
O·pSXUDWLRQ GHV HDX[ &HV YpJpWDX[ UDOHQWLVVHQW OHV pFRXOHPHQWV FH TXL IDYRULVH OD
GpFDQWDWLRQ GHV PDWLqUHV HQ VXVSHQVLRQ 2Q FRQVWDWH DXVVL GHV SKpQRPqQHV GH
PLQpUDOLVDWLRQGHODPDWLqUHRUJDQLTXHTXLHVWHQVXLWHDVVLPLOpHSDUOHVSODQWHVHQSpULRGH
YpJpWDWLYH
IRQFWLRQV pFRORJLTXHV /D IRUWH GLVSRQLELOLWp HQ HDX IDYRULVH XQH DFWLYLWp ELRORJLTXH
UpJXOLqUH/DELRGLYHUVLWp\HVWVRXYHQWUHPDUTXDEOHGHSDUODVSpFLILFLWpHWODULFKHVVHHQ
HVSqFHV TXL V·H[SULPHQW HQ IRQFWLRQ GH OD TXDQWLWp GH QXWULPHQWV LQWHUFHSWpV SDU
O·pFRV\VWqPH
/HV]RQHVKXPLGHVVXUOHWHUULWRLUH
/·pWDEOLVVHPHQW SXEOLF WHUULWRULDO GH EDVVLQ (3,'25 D HQWUHSULV XQ LQYHQWDLUH JpQpUDO GHV
]RQHV KXPLGHV j O·pFKHOOH GX EDVVLQ YHUVDQW GH OD 'RUGRJQH 'DQV FH FDGUH (3,'25 D
SXEOLpXQSUpLQYHQWDLUHGHV]RQHVKXPLGHVGX/LPRXVLQHQ%DVpHVXUXQHGpPDUFKH
G·DQDO\VHQXPpULTXHHWGHWpOpGpWHFWLRQFHWWHDSSURFKHSHUPHWGHEDOD\HUO·HQVHPEOH
GX WHUULWRLUH &HW LQYHQWDLUH LGHQWLILH OHV ]RQHV j GRPLQDQWHV KXPLGHV F·HVWjGLUH OHV
VHFWHXUVRLOH[LVWHXQWUqVIRUWWDX[GHSUREDELOLWpGHSUpVHQFHGH]RQHVKXPLGHV
'·DSUqV OD FDUWRJUDSKLH LVVXH GH FHW LQYHQWDLUH OHV ]RQHV j GRPLQDQWHV KXPLGHV
FRXYULUDLHQWNPòVRLWGXWHUULWRLUHLQWHUFRPPXQDXWDLUH
3URJUDPPH3OXULDQQXHOGH*HVWLRQGHVPLOLHX[DTXDWLTXHV
'RVVLHUGH'pFODUDWLRQG·,QWpUrW*pQpUDO
&HWLQYHQWDLUHGHV]RQHVKXPLGHVUpDOLVpSDU(3,'25IDLWUHVVRUWLUJUDQGVW\SHVGH]RQHV
KXPLGHV QDWXUHOOHV VXU OH WHUULWRLUH FI JUDSKLTXH FLDSUqV /HV SUDLULHV KXPLGHV
UHSUpVHQWHQW GH FHV VXUIDFHV HW OHV ERLVHPHQWV KXPLGHV /HV WRXUELqUHV EDV
PDUDLVHWDXWUHVPLOLHX[SDWULPRQLDX[ PRVDwTXHVKD UHSUpVHQWHQWPRLQVGH
(QUHYDQFKHjSHXSUqVGHV]RQHVLGHQWLILpHVRQWSHUGXOHXUIRQFWLRQQDOLWpGH]RQHV
KXPLGHV &HV GpJUDGDWLRQV VRQW OLpHV j OD FUpDWLRQ GH SODQ G·HDX OHV SODQWDWLRQV
O·XUEDQLVDWLRQHWODPLVHHQFXOWXUH
/HVXVDJHV
$JULFXOWXUH
3URILOGHO·DJULFXOWXUHVXUOHWHUULWRLUH
džƉůŽŝƚĂƚŝŽŶƐ dƌĂǀĂŝůĚĂŶƐůĞƐ ^ƵƉĞƌĨŝĐŝĞ ^ƵƉĞƌĨŝĐŝĞ
ŚĞƉƚĞů ŽǀŝŶƐ ^ƵƉĞƌĨŝĐŝĞĞŶ
ĂŐƌŝĐŽůĞƐ ĞdžƉůŽŝƚĂƚŝŽŶƐĂŐƌŝĐŽůĞƐ ĂŐƌŝĐŽůĞ ƚŽƵũŽƵƌƐĞŶ
ĞŶƵŶŝƚĠĚĞ ĞŶŶď ƚĞƌƌĞƐůĂďŽƵƌĂďůĞƐ
ĂLJĂŶƚůĞƵƌƐŝğŐĞĚĂŶƐ ĞŶƵŶŝƚĠĚĞƚƌĂǀĂŝů ƵƚŝůŝƐĠĞ ŚĞƌďĞ
ŐƌŽƐďĠƚĂŝů ĚΖĂŶŝŵĂƵdž ĞŶŚĞĐƚĂƌĞ
ŶŶĠĞ dƵůůĞĂŐŐůŽ ĂŶŶƵĞů ĞŶŚĞĐƚĂƌĞ ĞŶŚĞĐƚĂƌĞ
ϭϵϴϴ ϭϴϮϱ Ϯϰϭϯ ϰϱϮϱϯ ϯϯϱϱϯ ϲϰϬϮ ϮϲϵϮϵ
ϮϬϬϬ ϭϬϲϭ ϭϭϴϳ ϰϯϭϯϮ ϰϲϲϴϱ ϯϭϮϮϰ ϴϵϬϰ ϮϮϭϬϬ
ϮϬϭϬ ϴϬϲ ϴϳϭ ϯϵϲϲϭ ϰϯϴϭϯ ϯϬϮϮϳ ϵϳϵϰ ϮϬϮϬϱ
/·pURVLRQGHVH[SORLWDWLRQVDJULFROHV
2Q FRQVWDWH XQH GLPLQXWLRQ VLJQLILFDWLYH GX QRPEUH G·H[SORLWDWLRQV HQWUH FKDTXH
UHFHQVHPHQWHWFHWWHpURVLRQVHPEOHV·DFFpOpUHU/DGLPLQXWLRQGXQRPEUHG·H[SORLWDQWV
pWDLW GH O·RUGUH GH SDU DQ HQWUH HW (QWUH HW OH WDX[ GH
GLVSDULWLRQGHVH[SORLWDWLRQVDXJPHQWHGH
/HFRQVWDWHVWG·DXWDQWSOXVLQTXLpWDQWTXHGHVH[SORLWDQWVRQWSOXVGHDQVHWTXH
SDUPLOHVSOXVGHDQVGpFODUHQWQHSDVDYRLUGHUHSUHQHXUSRXUOHXUH[SORLWDWLRQ
/DSDUWGHODVXUIDFHXWLOLVpHSRXUO·DJULFXOWXUHGLPLQXHUpJXOLqUHPHQWHOOHDXVVLGHSXLVOHV
DQQpHV(QOD6XUIDFH$JULFROH8WLOHRFFXSDLWGHO·HVSDFHVXUODFRPPXQDXWp
G·DJJORPpUDWLRQ&HWWHSURSRUWLRQDUpJUHVVpHQPR\HQQHGHSDUDQMXVTX·HQ
3URJUDPPH3OXULDQQXHOGH*HVWLRQGHVPLOLHX[DTXDWLTXHV
'RVVLHUGH'pFODUDWLRQG·,QWpUrW*pQpUDO
$XUHFHQVHPHQWGHODGLVSDULWLRQGHVWHUUHVDJULFROHVVHPEODLWrWUHPRLQVUDSLGHOD
6$8UHSUpVHQWDLWKDVRLWGXWHUULWRLUH
&HWWHUHODWLYHVWDELOLWpGHODVXUIDFHDJULFROHGHSXLVQHWLHQWSDVFRPSWHGHVKD
TXLVHURQWOLEpUpVGDQVOHVDQQpHVjYHQLUVDQVTX·LOQ·\DLWGHUHSUHQHXUFRQQXDXMRXUG·KXL
'DQVODVLWXDWLRQODSOXVGpIDYRUDEOHOD6$8SRXUUDLWGHVFHQGUHjGXWHUULWRLUH
8QHWHUUHG·pOHYDJH
6XU OH VHFWHXU H[SORLWDWLRQV VXU VRQW FRQVDFUpHV j O·pOHYDJH DYHF XQH UpHOOH
VSpFLILFLWp VXU OH ERYLQ YLDQGH TXL UHSUpVHQWH SOXV GH GHV H[SORLWDWLRQV RULHQWpHV HQ
SURGXFWLRQ DQLPDOH &HWWH SUpGRPLQDQFH GHV H[SORLWDWLRQV HQ ERYLQ YLDQGH VH UHVVHQW
DXVVLVXUODVXUIDFHDJULFROHSXLVTXHGHOD6$8VRQWFRQVDFUpVjFHWWHSURGXFWLRQ6LOD
SURGXFWLRQ YpJpWDOH HVW WUqV PDMRULWDLUHPHQW GHVWLQpH DX[ IRXUUDJHV HQ UHYDQFKH
O·DVVROHPHQWGHVH[SORLWDWLRQVV·HVWVHQVLEOHPHQWPRGLILpGHVSUDLULHVSHUPDQHQWHV
RQWpWpUHWRXUQpHVSRXULPSODQWHUGXPDwVRXGHVSUDLULHVWHPSRUDLUHV
,PSDFWGHO·DJULFXOWXUHVXUOHVPLOLHX[DTXDWLTXHV
/·pYROXWLRQ GH O·DVVROHPHQW UpVXOWH GHV FKDQJHPHQWV GH SUDWLTXH GDQV OD JHVWLRQ GH
O·pOHYDJH VXU OH WHUULWRLUH /·DXJPHQWDWLRQ GH OD VXSHUILFLH GHV H[SORLWDWLRQV V·HVW
DFFRPSDJQpHG·XQHDXJPHQWDWLRQVLJQLILFDWLYHGXFKHSWHO/HFKDUJHPHQWJOREDOQ·D
SDVIRUFpPHQWpYROXp&HSHQGDQWOHVH[SORLWDQWVRQWWHQGDQFHjFRQVWLWXHUGHVORWVSOXV
LPSRUWDQWVFHTXLDXJPHQWHVLJQLILFDWLYHPHQWOHFKDUJHPHQWLQVWDQWDQp
6XU OHV SDUFHOOHV HQ ERUG GH FRXUV G·HDX FHOD VH WUDGXLW SDU GX SLpWLQHPHQW HW XQH
GpJUDGDWLRQGHVSkWXUHV
'DQV OHV ]RQHV GH SkWXUDJH OHV DQLPDX[ RQW WHQGDQFH j V·DEUHXYHU WRXV DX PrPH
HQGURLW /HV EHUJHV GHV FRXUV G·HDX VRQW DORUV PLVHV j QX HW GHYLHQQHQW VHQVLEOHV j
O·pURVLRQORUVGHVSpULRGHVGHFUXHV
3RXUOHVFRXUVG·HDX[GHIDLEOHJDEDULWO·DEVHQFHGHFO{WXUHIDYRULVHDXVVLODGLYDJDWLRQ
GXEpWDLOGDQVOHOLWGHODULYLqUH$X[GpVRUGUHVSUpVHQWpVFLGHVVXVV·DMRXWHQWDORUV
• GHV SKpQRPqQHV G·DOWpUDWLRQ GX IRQG GX OLW SUpMXGLFLDEOH j OD SUpVHUYDWLRQ GHV
HVSqFHVDTXDWLTXHV
• GHVSROOXWLRQVSK\VLTXHVOLpHVjODPLVHHQVXVSHQVLRQGHVSDUWLFXOHVILQHV
• GHVSROOXWLRQVEDFWpULRORJLTXHVOLpHVDX[GpMHFWLRQVGHVERYLQVHWVRXUFHGHULVTXH
LQIHFWLHX[HWSDUDVLWDLUH«
3URJUDPPH3OXULDQQXHOGH*HVWLRQGHVPLOLHX[DTXDWLTXHV
'RVVLHUGH'pFODUDWLRQG·,QWpUrW*pQpUDO
6XUXQHMRXUQpHODGHPDQGHpWDLWpYDOXpHjPHQPR\HQQHHWODFRQVRPPDWLRQ
GH SRLQWH HVWLPpH j P 1RXV QH GLVSRVRQV SDV GH GRQQpHV VXU OD UpSDUWLWLRQ GHV
FRQVRPPDWLRQVVXUO·DQQpHjO·pFKHOOHGHVFRPPXQHVGHO·DJJORPpUDWLRQ
(QUHYDQFKHG·DSUqVOHGRVVLHUSRXUOHSpULPqWUH6$*(9p]qUH (3,'25 OHYROXPH
G·HDX FRQVRPPp SRXU O·DOLPHQWDWLRQ HQ HDX SRWDEOH VXU OD SpULRGH G·pWLDJH VXU
O·HQVHPEOH GX EDVVLQ GH OD 9p]qUH VRLW PLOOLRQV GH P UHSUpVHQWH OD PRLWLp GH OD
FRQVRPPDWLRQ DQQXHOOH &·HVWjGLUH TXH OD FRQVRPPDWLRQ HVW OD SOXV IRUWH TXDQG OD
UHVVRXUFHHVWODPRLQVGLVSRQLEOHHWOHVPLOLHX[DTXDWLTXHVOHVSOXVYXOQpUDEOHV
3RXU UpSRQGUH j OD GHPDQGH OHV FROOHFWLYLWpV H[SORLWHQW GHV UHVVRXUFHV QRPEUHXVHV HW
GLYHUVLILpHV
ವ VRXUFHV
ವ IRUDJHV
ವ SULVHVG·HDXGHVXUIDFHV
6LOD PDMHXUH SDUWLH GHVFDSWDJHV IRQWO·REMHW G·XQH SURFpGXUH GH VpFXULVDWLRQ GDQV OHV
IDLWV XQ WUqV JUDQG QRPEUH QH VRQW SDV SURWpJpV &HOD VH UHVVHQW VXU OH SODQ TXDOLWDWLI
SXLVTXH VXU OHV FDSWDJHV IDLVDQW O·REMHW G·XQ VXLYL DX PRPHQW GH O·pWXGH
SUpVHQWDLHQWXQHFRQWDPLQDWLRQEDFWpULRORJLTXH
/D &RUUq]H HW VHV DIIOXHQWV FRQQDLVVHQW GHV pWLDJHV VpYqUHV HW O·pYROXWLRQ GH OD
UpJOHPHQWDWLRQLPSRVDQWOHUHVSHFWGXGXPRGXOHSRXUOHVRXYUDJHVHQFRXUVG·HDX
D UpYpOp GHV VLWXDWLRQV GpILFLWDLUHV VXU OH SODQ TXDQWLWDWLI +RUPLV FHOOH GX 0DXPRQW OHV
SULVHV G·HDX GH VXUIDFHV UHFHQVpHV VXU 7XOOH DJJOR QH VRQW SDV DXWRULVpHV
DGPLQLVWUDWLYHPHQW 'HV UHFKHUFKHV GH QRXYHOOHV UHVVRXUFHV VRQW HQJDJpHV QRWDPPHQW
YLDGHVSUpOqYHPHQWVVXUOD9p]qUH
$VVDLQLVVHPHQW
$VVDLQLVVHPHQWFROOHFWLI
6XU OH WHUULWRLUH GH OD FRPPXQDXWp G·DJJORPpUDWLRQ RQ GpQRPEUH GLVSRVLWLIV
G·DVVDLQLVVHPHQW FROOHFWLIV SRXU XQH FDSDFLWp WRWDOH GH (+ +RUPLV OHV VWDWLRQV GH
7XOOH HW 6HLOKDF OH SDUF HVW VXUWRXW FRPSRVp GH SHWLWHV XQLWpV SXLVTXH G·HQWUH HOOHV
SUpVHQWHQWGHVFDSDFLWpVQRPLQDOHVLQIpULHXUHVj(+GRQWWUDLWHQWPRLQVGH(+
FKDFXQH
ŶŽŵďƌĞ ĐĂƉĂĐŝƚĠƚŽƚĂůĞ ąŐĞŵŽLJĞŶ йĐĂƉĂĐŝƚĠƚŽƚĂůĞ
фϮϬϬŚ ϭϵ ϮϬϴϬ ϭϬ 6%
ϮϬϬăϮϬϬϬŚ ϭϳ ϭϭϲϯϬ ϭϴ 32%
ϮϬϬϬăϭϬϬϬϬŚ ϭ ϯϭϬϬ Ϯ 8%
ϭϬϬϬϬăϱϬϬϬϬŚ ϭ ϮϬϬϬϬ Ϯϯ 54%
/H SDUF VHPEOH UHODWLYHPHQW UpFHQW 6XU OHV GHUQLqUHV DQQpHV VWDWLRQV RQW pWp
FRQVWUXLWHVRXUpQRYpHVVXUOHWHUULWRLUHSRXUXQHFDSDFLWpQRPLQDOHWRWDOHGH(+
([FHSWp OD YLOOH GH 7XOOH TXL D GpOpJXp OD JHVWLRQ GH VRQ DVVDLQLVVHPHQW FROOHFWLI j XQH
FRPSDJQLHIHUPLqUHODWRWDOLWpGHVDXWUHVVWDWLRQVVRQWH[SORLWpHVHQUpJLH
3URJUDPPH3OXULDQQXHOGH*HVWLRQGHVPLOLHX[DTXDWLTXHV
'RVVLHUGH'pFODUDWLRQG·,QWpUrW*pQpUDO
/HVV\VWqPHVGHFROOHFWH
6XU OHV V\VWqPHV FROOHFWLIV SRXU OHVTXHOV FHV LQIRUPDWLRQV VRQW GLVSRQLEOHV UpVHDX[
VRQWGHW\SHVpSDUDWLIGHW\SHXQLWDLUHHWGHW\SHPL[WH(QWHUPHVG pTXLSHPHQWLOHVW
UHFHQVpGpYHUVRLUVG RUDJHHWSRVWHVGHUHOqYHPHQW
/HUpVHDXGH7XOOHHVWXQUpVHDXPL[WHLOFROOHFWHDERQQpVVXUNPGHFDQDOLVDWLRQV
,O HVW pTXLSp GH GpYHUVRLUV G RUDJH HW SRVWHV GH UHOqYHPHQW /D FRPSOH[LWp GX
UpVHDX HW OD WRSRJUDSKLH GH OD YLOOH H[SOLTXH SHXWrWUH OHV G\VIRQFWLRQQHPHQWV
IUpTXHPPHQW REVHUYpV (Q SOXV GH OD PRLWLp GH OD FKDUJH SROOXDQWH GH
O·DJJORPpUDWLRQVRLW(+Q·pWDLWSDVWUDLWpHjODVWDWLRQGH0XODWHW
$ILQGHUpVRUEHUFHVUHMHWVGLUHFWVSHUPDQHQWVXQSURJUDPPHGHWUDYDX[DpWpHQJDJp
DYHF O·$JHQFH GH O·(DX $GRXU *DURQQH VXU OD SpULRGH ,O D SRXU REMHW OD
UpKDELOLWDWLRQ GX UpVHDX HW OD PLVH HQ SODFH GH O·DXWRVXUYHLOODQFH HW GX GLDJQRVWLF
SHUPDQHQWGXUpVHDX
/HVV\VWqPHVGHWUDLWHPHQWV
/HVGLIIpUHQWHVILOLqUHV
6XU OD FRPPXQDXWp G·DJJORPpUDWLRQ OHV ODJXQHV HW OHV ILOWUHV SODQWpV UHSUpVHQWHQW
GHV V\VWqPHV GH WUDLWHPHQW &HV ILOLqUHV G·XQH FDSDFLWp PR\HQQH GH (+
FRUUHVSRQGHQW DVVH] ELHQ DX[ SHWLWHV FRPPXQHV GH ]RQH UXUDOH FDU LO V·DJLW GH ILOLqUHV
UXVWLTXHVGRQWOHVFRWVGHIRQFWLRQQHPHQWVRQWUHODWLYHPHQWIDLEOHV6LO·HQWUHWLHQLPSOLTXH
XQ VXLYL UpJXOLHU ORJLTXHPHQW LO QH QpFHVVLWH SDV SRXU DXWDQW G·LQWHUYHQWLRQ WURS
IUpTXHQWH
,O VHPEOH TXH OHV ILOWUHV SODQWpV VRLHQW DXMRXUG¶KXL SUpIpUpV DX[ ODJXQHV TXL GDWHQW SOXW{W
GHVDQQpHV
/HV EDVVLQV G·LQILOWUDWLRQV VRQW SULQFLSDOHPHQW SULYLOpJLpV FRPPH DOWHUQDWLYH j
O·DVVDLQLVVHPHQW QRQFROOHFWLI GDQVOHV pFDUWV RX SRXU GHV WUqVSHWLWHV LQVWDOODWLRQV GRQWOD
FDSDFLWp QRPLQDOH HVW LQIpULHXUH j NJ GH '%2M &HV ILOLqUHV VRQW HOOHV DXVVL SOXW{W
UpFHQWHVODPR\HQQHG·kJHGHFHVLQVWDOODWLRQVHVWGHDQV
6L OHV ERXHV DFWLYpHV QH UHSUpVHQWHQW TXH GH O·HQVHPEOH GHV LQVWDOODWLRQV HOOHV
UHSUpVHQWHQWSUHVTXHGHODFDSDFLWpGHWUDLWHPHQWVXUOHWHUULWRLUH+RUPLVOHVVWDWLRQV
GH6HLOKDFHWGH6DLQW3ULHVWGH*LPHOFHVRQWGHVVWDWLRQVDQFLHQQHVTXLGDWHQWGHSOXV
GH WUHQWH DQV &HSHQGDQW OD VWDWLRQ GH 7XOOH D pWp UpKDELOLWpH HQ HW FHOOH GH
&KDPERXOLYHHQ
3URJUDPPH3OXULDQQXHOGH*HVWLRQGHVPLOLHX[DTXDWLTXHV
'RVVLHUGH'pFODUDWLRQG·,QWpUrW*pQpUDO
/HVUHQGHPHQWVGHVV\VWqPHVGHWUDLWHPHQW
6HXOH OD VWDWLRQ GH 7XOOH UHOqYH GH OD UpJOHPHQWDWLRQ SRXU OHV VWDWLRQV GHYDQW WUDLWHU XQH
FKDUJHEUXWHGHSOXVGHNJMGH'%2/HVUHQGHPHQWVpSXUDWRLUHVHQ'%2'&2HW
0(6 VRQW VXSpULHXUVDX[ VHXLOV PLQLPXPj DWWHLQGUH (Q VRUWLH GH VWDWLRQODFRQFHQWUDWLRQ
GHV UHMHWV HQ D]RWH JOREDOH Q·H[FpGDLW SDV PJO HW OD YDOHXU PD[LPDOH HQ SKRVSKRUH
WRWDOH UHWHQXH G·RUGLQDLUH HQ ]RQH VHQVLEOH D pWp GpSDVVpH HQ PDL HW HQ MXLOOHW WRXW HQ
UHVWDQWLQIpULHXUHjPJO
/HVDXWUHVVWDWLRQVRQWXQHFDSDFLWpQRPLQDOHLQIpULHXUHDXVHXLOjNJMGH'%2(OOHV
SUpVHQWHQWGHVUHQGHPHQWVpSXUDWRLUHVFRQIRUPHVVDXIOHVODJXQHVGH&KDQWHL[HW&RUQLO
jOD5DPDGHTXLQ·DWWHLJQHQWSDVOHVGHUHQGHPHQWHQ'&2&·HVWDXVVLOHFDVSRXU
ODERXHDFWLYpHG·(\UHLQGRQWOHUHQGHPHQWHQ'%2HVWOXLDXVVLLQIpULHXUjPDLVOD
FRQFHQWUDWLRQGXUHMHWQHGpSDVVHSDVOHVPJO/HV\VWqPHGHFROOHFWHG·(\UHLQHVWGH
W\SH XQLWDLUH LO FROOHFWH XQH IRUWH TXDQWLWp G·HDX[ SDUDVLWHV FH TXL SHUWXUEH OH ERQ
IRQFWLRQQHPHQWGXWUDLWHPHQW
/DODJXQHGH/DJUDXOLqUHSUpVHQWDLWXQUHQGHPHQWpSXUDWRLUHGH0DLVWRXWFRPPH
SRXU&KDQWHL[HW&RUQLOOHVYDOHXUVUHWHQXHVGDWHQWG·DYDQW2UG·LPSRUWDQWVWUDYDX[
RQWpWpUpDOLVpVVXUOHUpVHDXGHSXLVFHTXLDSHUPLVGHUpGXLUHGHOHYROXPHG·HDX
SDUDVLWH
$VVDLQLVVHPHQWQRQFROOHFWLI
/D FRPSpWHQFH DVVDLQLVVHPHQW QRQ FROOHFWLI HVW JpUpH SDU O·DJJORPpUDWLRQ GH 7XOOH
GHSXLV GDWH GH FUpDWLRQ GX 6HUYLFH 3XEOLF G·$VVDLQLVVHPHQW 1RQ &ROOHFWLI /H
QRPEUH G·LQVWDOODWLRQV HVW HVWLPp j HQYLURQ DYHF HQ PR\HQQH QRXYHOOHV
LQVWDOODWLRQSDUDQ
1RPEUH 1RPEUHG LQVWDOODWLRQV
&RPPXQHV HVWLPp UpFHSWLRQQpHVFRQIRUPHV
G LQVWDOODWLRQV
%$5
%($80217
&+$0%28/,9(
&+$0(<5$7
&+$1$&/(60,1(6
&+$17(,;
&251,/
&255(=(
(63$*1$&
(<5(,1
)$9$56
*,0(//(6&$6&$'(6
/$',*1$&685521'(//(6
/$*$5'((19$/
/$*5$8/,(5(
/$*8(11(
/(&+$67$1*
/(6$1*/(6
0$5&/$7285
1$9(6
25/,$&'(%$5
3$1'5,*1(6
3,(55(),77(
6(,/+$&
67%211(7$9$/28=(
67&/(0(17
67*(50$,1/(69(5*1(6
67+,/$,5(3(<528;
67-$/
670$57,$/'(*,0(/
670(;$17
673$8/
6735,(67'(*,0(/
676$/9$'285
67()25781$'(
78//(
9,75$&6850217$1(
727$/
3URJUDPPH3OXULDQQXHOGH*HVWLRQGHVPLOLHX[DTXDWLTXHV
'RVVLHUGH'pFODUDWLRQG·,QWpUrW*pQpUDO
'HSXLV VD FUpDWLRQ OH VHUYLFH D FRQWU{Op HQYLURQ QRXYHOOHV LQVWDOODWLRQV HW
GLDJQRVWLTXp LQVWDOODWLRQV H[LVWDQWHV $ O·KHXUH DFWXHOOH RQ HVWLPH TXH OH SDUF
G·LQVWDOODWLRQV HVWFRPSRVp GH G·LQVWDOODWLRQVFRQIRUPHV G·LQVWDOODWLRQV SDUWLHOOHV
HWQ·RQWSDVGHGLVSRVLWLIGHWUDLWHPHQW
(Q WHUPHV GH UHMHW RQFRQVWDWH DORUV TXH GHV KDELWDWLRQVUHMHWWHQW GLUHFWHPHQW OHXUV
HDX[ YDQQHV GDQV OH PLOLHX QDWXUHO HW SRXU GHV LQVWDOODWLRQV LO V·DJLW GHV HDX[
PpQDJqUHV
,QGXVWULH
/·DFWLYLWp LQGXVWULHOOH HVW SHX GpYHORSSpH VXU OD FRPPXQDXWp G·DJJORPpUDWLRQ 7XOOH
DJJOR &HWWH DFWLYLWp VH FRQFHQWUH SULQFLSDOHPHQW VXU TXHOTXHV VHFWHXUV JpRJUDSKLTXHV
SUpFLVODYLOOHGH7XOOHTXLFRPSWHSOXVLHXUV]RQHVLQGXVWULHOOHVHWFRPPHUFLDOHVHWDXWRXU
GHO·DXWRURXWH$
'HSDUODQDWXUHGHOHXUDFWLYLWpFHUWDLQHVHQWUHSULVHVLPSDFWHQWVXUOHXUHQYLURQQHPHQW
$ILQGHSUpYHQLUOHVQXLVDQFHVRXOHVSROOXWLRQVpYHQWXHOOHVOHOpJLVODWHXUDQRWDPPHQWPLV
HQSODFHOHUpJLPHGHV,QVWDOODWLRQV&ODVVpHV3RXUO·(QYLURQQHPHQW ,&3(
6RQWFODVVpHVHQ,&3(OHVXVLQHVDWHOLHUVGpS{WVFKDQWLHUVHWG XQHPDQLqUHJpQpUDOHOHV
LQVWDOODWLRQVTXLSHXYHQWSUpVHQWHUGHVGDQJHUVRXGHVLQFRQYpQLHQWVSRXU
- ODFRPPRGLWpGXYRLVLQDJH
- ODVDQWpODVpFXULWpODVDOXEULWpSXEOLTXH
- O DJULFXOWXUH
- ODSURWHFWLRQGHODQDWXUHGHO HQYLURQQHPHQWHWGHVSD\VDJHV
- O XWLOLVDWLRQUDWLRQQHOOHGHO pQHUJLH
- ODFRQVHUYDWLRQ GHV VLWHV HW GHV PRQXPHQWVDLQVLTXH GHV pOpPHQWV GXSDWULPRLQH
DUFKpRORJLTXH
&H UpJLPH ,&3( FRPSWH QLYHDX[ GH FODVVHPHQW TXL VRQW IRQFWLRQ GX YROXPH HW GH
O·LQWHQVLWpGHO·DFWLYLWp/HVGLIIpUHQWHVPHVXUHVGHSUpYHQWLRQGHVXLYLGHFRQWU{OH«VRQW
GpILQLHVHQIRQFWLRQGHFHVQLYHDX[GHFODVVHPHQW
'DQV OH WDEOHDX FLGHVVRXV VRQW UpSHUWRULpHV OHV ,&3( GX WHUULWRLUH UHOHYDQW D PLQLPD GX
FODVVHPHQWHQDXWRULVDWLRQ
%DU *LPHO
9LFK\pWDEOLVVHPHQW VWRFNDJH *UDQLWVGXFHQWUH FDUULqUHV
UpFXSpUDWLRQGHPDWpULDX[ 6WH)RUWXQDGH
&RUUq]H $7, WUDLWHPHQWGHVPpWDX[
$VVLPRQ FHQWUDOHG HQUREDJHGH 6W+LODLUH3H\URX[
ELWXPH 5ROHW3RPSLHU FDUULqUHV
6RXODUXH pOHYDJHGHSRUFV 6W3DXO
&KH]DOYLHO pOHYDJHGHSRUFV *DHF&ODULVVRX pOHYDJHGHSRUFV
*DHFGHO pWDQJ pOHYDJHGHSRUFV 6W3ULHVWGH*LPHO
1DYHV &RUUq]HUpFXSpUDWLRQ FROOHFWHUpFXSpUDWLRQGHVGpFKHWV
6FLHULH&XHLOOH 5pFXSDXWR UpFXSpUDWLRQGHPpWDX[
(DUOSODWHDXGHVPLOOHVVRXUFHV pOHYDJH 6HLOKDF
GHSRUFV 0DOEHUQDUG UpFXSpUDWLRQGHPpWDX[
*UDQLWVGXFHQWUH FDUULqUHV 7XOOH
/(*7$ pOHYDJHGHSRUFVHWERYLQV 1H[WHU SURGXFWLRQPpWDOOLTXH 5pJLPH6(9(62
3DQGULJQHV 6LEWX EODQFKLVVHULH
(DUOGH*UDJQH pOHYDJHGHSRUFV 6<7720 WUDLWHPHQW GHV RUGXUHV PpQDJqUHV GpS{W GHV /LDQWV
(\UHLQ &RUUq]LHQV
%RUJ:DUQHU 9LWUDFVXU0RQWDQH
(\UHLQ,QGXVWULH IDEULFDWLRQGHSURGXLWV (DUO%HUQRWWH pOHYDJHGHSRUFV
GHQHWWR\DJH *DHFOD&KDEUHULH pOHYDJHGHSRUFV
)DXFKHU%HUQDUG FDUULqUHV
6W6DOYDGRXU
'HVKRUV FDUULqUHV
3URJUDPPH3OXULDQQXHOGH*HVWLRQGHVPLOLHX[DTXDWLTXHV
'RVVLHUGH'pFODUDWLRQG·,QWpUrW*pQpUDO
AC
/·pOHYDJH HVW O·DFWLYLWp OD SOXV VLJQLILFDWLYH SXLVTXH VXU OHV H[SORLWDWLRQV FODVVpHV OH
VRQW SRXU XQH DFWLYLWp G·pOHYDJH GH SRUFV 2Q SHXW DXVVL QRWHU OHV DFWLYLWpV OLpHV DX[
FDUULqUHVHWODILOLqUHGHUpFXSpUDWLRQGHVPDWpULDX[
+\GURpOHFWULFLWp
'·DSUqV O·pWXGH SRWHQWLHOOH K\GURpOHFWULTXH UpDOLVpH SDU O·$JHQFH GH O·(DX $GRXU
*DURQQHHQODSURGXFWLRQDQQXHOOHVXUOHEDVVLQGHOD9p]qUHHVWGH*:KVRLW
GHODSURGXFWLRQGXEDVVLQ$GRXU*DURQQH(OOHHVWFRQFHQWUpHVXUOHEDVVLQDPRQW
GHVVRXUFHVGHOD9p]qUHjODFRQIOXHQFHGHOD&RUUq]HROHVSOXVJURVVHVLQVWDOODWLRQV
UHSUpVHQWHQWGHODSXLVVDQFHLQVWDOOpH6XUOHEDVVLQGHOD&RUUq]HLQVWDOODWLRQVVRQW
UHFHQVpHVPLFURFHQWUDOHVVXUOD0RQWDQHHWLQVWDOODWLRQVVXUO·D[H&RUUq]HGRQWO·XVLQH
K\GURpOHFWULTXHGH%DU
3ULQFLSDORXYUDJHVXUO·DJJORPpUDWLRQO·XVLQHGH%DUHVWFRPSRVpHGHWXUELQHVGHW\SH
)UDQFLV SRXU XQH SXLVVDQFH FXPXOpH GH 0:K &HW RXYUDJH K\GURpOHFWULTXH
IRQFWLRQQHSDUpFOXVpH/·HDXHVWVWRFNpHGDQVOHEDUUDJHGH&RUUq]HSXLVDFKHPLQpHj
O·XVLQHSDUXQHFRQGXLWHG·HQYLURQNP
$FWLYLWpVWRXULVWLTXHVHWGHORLVLUV
/H WHUULWRLUH FRPPXQDXWDLUH j GRPLQDQWH UXUDOH SUpVHQWH XQH RIIUH WRXULVWLTXH SRXU
O·HVVHQWLHOEDVpHVXUOHVDFWLYLWpVFXOWXUHOOHVHWGHORLVLUV
$FWLYLWpVGHORLVLUVOLpHVjO·HDX
/HVDFWLYLWpVQDXWLTXHV
/HSULQFLSDOSRUWHXUG·DFWLYLWpVGHVSRUWQDXWLTXHHVWOD6WDWLRQ6SRUWV1DWXUHGX3D\VGH
7XOOHSRUWpHSDUO·DVVRFLDWLRQ.D\DN&OXE7XOOLVWH
/DVWDWLRQSURSRVHGHVDFWLYLWpVVSRUWLYHVjO·DQQpHSULQFLSDOHPHQWGDQVOHGRPDLQHGHV
VSRUWV G·HDX[ YLYHV WHOV TXH OH FDQRsND\DN O·DTXDUDQGR RX OH UDIWLQJ PDLV DXVVL j
GHVWLQDWLRQWRXULVWLTXH
3OXVLHXUVSDUFRXUVFDQRsVVRQWSUpVHQWVVXUO·D[H&RUUq]HDLQVLTXHVXUOHVSDUWLHVDYDOGHV
ULYLqUH9LPEHOOH0RQWDQHHW6DLQW%RQQHWWH
/DSrFKH
/D SrFKH HVW XQH DFWLYLWp UpSDQGXH HQ &RUUq]H /D )pGpUDWLRQ 'pSDUWHPHQWDOH GHV
$VVRFLDWLRQV$JUppHVSRXUOD3rFKHHWOD3URWHFWLRQGX0LOLHX$TXDWLTXHGHOD&RUUq]HD
SRXU PLVVLRQ GH FRQWULEXHU DX GpYHORSSHPHQW GH OD SrFKH DPDWHXU HW GH PHWWUH HQ
±XYUHGHVDFWLRQVGHSURPRWLRQGXORLVLUSrFKH pFROHGHSrFKHDQLPDWLRQV 6RQU{OH
HVW pJDOHPHQW GH SURWpJHU OHV PLOLHX[ DTXDWLTXHV HW G DVVXUHU OD YDORULVDWLRQ HW OD
VXUYHLOODQFH GX GRPDLQH SLVFLFROH HW KDOLHXWLTXH GpSDUWHPHQWDO SODQ GH JHVWLRQ
SLVFLFROHTXDOLWpGHVPLOLHX[KDOLHXWLTXHVSURWHFWLRQGHVHVSqFHV
/DJHVWLRQKDOLHXWLTXHHVWDVVXUpHSDUOHV$$330$GXWHUULWRLUH
ವ $$330$GHVSrFKHXUVGH7XOOH
ವ $$330$©ODWUXLWHGH0RQpGLqUHV &RUUq]HHW6W<ULH[OH'pMDODW
ವ $$330$©OHVDPLVGHOD9p]qUHª 7UHLJQDF
3URJUDPPH3OXULDQQXHOGH*HVWLRQGHVPLOLHX[DTXDWLTXHV
'RVVLHUGH'pFODUDWLRQG·,QWpUrW*pQpUDO
ವ $$330$©OHVSrFKHXUVGXSD\VG·8]HUFKHª
ವ $$330$GHVSrFKHXUVGX3D\VGH%ULYH
ವ $$330$/H&KDVWDQJ%H\QDW
ವ $$330$©OD)UDQFKH9DOHLQHª $OEXVVDF
/·HQVHPEOHGHVFRXUVG·HDXGXWHUULWRLUHHVWHQSUHPLqUHFDWpJRULHSLVFLFROHPLVjSDUWOD
]RQHDYDOGHOD&RUUq]HTXLHVWHQVHFRQGHFDWpJRULH/·HQVHPEOHGXUpVHDXHVWGHW\SH
VDOPRQLFROHHWO·HVSqFHUHSqUHHVWODWUXLWHIDULR 6DOPRWUXWWDIDULR
/HWDEOHDXFLGHVVRXVSUpVHQWHODOLVWHGHVHVSqFHVSRWHQWLHOOHPHQWSUpVHQWHVVXUFKDTXH
FRQWH[WHSLVFLFROH
(VSqFHV (VSqFHV
7HUULWRLUH (VSqFHVSLVFLFROHV $XWUHVHVSqFHV
&RQWH[WHV LQGpVLUDEOHV QXLVLEOHV
GH SRWHQWLHOOHPHQW SRWHQWLHOOHPHQW
SLVFLFROHV SRWHQWLHOOHPHQW SRWHQWLHOOHPHQW
JHVWLRQ SUpVHQWHV SUpVHQWHV
SUpVHQWHV SUpVHQWHV
&KDERW &RWWXVJRELR
7UXLWHIDULR 6DOPRWUXWWD
IDULR 9DLURQ 3KR[LQXV
SKR[LQXV /RFKH
IUDQFKH %DUEDWXOD
EDUEDWXOD /DPSURLHGH
SODQHU /DPSHWUD
5RWHQJOH
SODQHUL *RXMRQ *RELR
6FDUGLQLXV
JRELR &KHYHVQH
HU\WKURSKWKDOPXV
&RUUq]H 6TXDOLXVFHSKDOXV
*DUGRQ 5XWLOXV
PR\HQQH &RUUq]H 2PEUHFRPPXQ
UXWLOXV 7DQFKH
9LPEHOOH 7K\PDOOXVWK\PDOOXV
7LQFDWLQFD
%DUEHDXIOXYLDWLOH
3HUFKHFRPPXQH
%DUEXVEDUEXV
3HUFDIOXYLDWLOLV
9DQGRLVH /HXFLVFXV
OHXFLVFXV 7R[RVWRPH
&KRQGURVWRPD
WR[RVWRPD 6DXPRQ
DWODQWLTXH 6DOPRVDODU
$QJXLOOHG (XURSH
$QJXLOODDQJXLOOD
&KDERW &RWWXVJRELR
7UXLWHIDULR 6DOPRWUXWWD
IDULR 9DLURQ 3KR[LQXV 5RWHQJOH
&RUUq]H SKR[LQXV /RFKH 6FDUGLQLXV
IUDQFKH %DUEDWXOD HU\WKURSKWKDOPXV
EDUEDWXOD /DPSURLHGH *DUGRQ 5XWLOXV
SODQHU /DPSHWUD UXWLOXV 7DQFKH
3HUFKHVROHLO
SODQHUL *RXMRQ *RELR 7LQFDWLQFD
/HSRPLV
JRELR &KHYHVQH 3HUFKHFRPPXQH 7UXLWHDUFHQFLHO
&RUUq]H JLEERVXV
&RUUq]H 6TXDOLXVFHSKDOXV 3HUFDIOXYLDWLOLV 2QFRUK\QFKXV
DYDO 3RLVVRQFKDW
2PEUHFRPPXQ %URFKHW (VR[ P\NLVV
$PHLXUXV
7K\PDOOXVWK\PDOOXV OXFLXV $EOHWWH
PHODV
%DUEHDXIOXYLDWLOH $OEXUQXVDOEXUQXV
%DUEXVEDUEXV &DUSHFRPPXQH
9DQGRLVH /HXFLVFXV &\SULQXVFDUSLR
OHXFLVFXV 6DXPRQ 6DQGUH 6DQGHU
&RX]H
DWODQWLTXH 6DOPRVDODU OXFLRSHUFD
$QJXLOOHG (XURSH
$QJXLOODDQJXLOOD
&KDERW &RWWXVJRELR *DUGRQ 5XWLOXV
7UXLWHIDULR 6DOPRWUXWWD UXWLOXV 7DQFKH
IDULR 9DLURQ 3KR[LQXV 7LQFDWLQFD
0RQWDQH 3HUFKHVROHLO 7UXLWHDUFHQFLHO
SKR[LQXV /RFKH 3HUFKHFRPPXQH
6DLQW 0RQWDQH /HSRPLV 2QFRUK\QFKXV
IUDQFKH %DUEDWXOD 3HUFDIOXYLDWLOLV
%RQQHWWH JLEERVXV P\NLVV
EDUEDWXOD /DPSURLHGH %URFKHW (VR[
SODQHU /DPSHWUD OXFLXV $EOHWWH
SODQHUL *RXMRQ *RELR $OEXUQXVDOEXUQXV
3URJUDPPH3OXULDQQXHOGH*HVWLRQGHVPLOLHX[DTXDWLTXHV
'RVVLHUGH'pFODUDWLRQG·,QWpUrW*pQpUDO
AA
JRELR &KHYHVQH
6TXDOLXVFHSKDOXV
6DXPRQDWODQWLTXH
6DOPRVDODU $QJXLOOH
G (XURSH $QJXLOOD
DQJXLOOD
&KDERW &RWWXVJRELR
*DUGRQ 5XWLOXV
7UXLWHIDULR 6DOPRWUXWWD
UXWLOXV 7DQFKH
IDULR 9DLURQ 3KR[LQXV
7LQFDWLQFD
SKR[LQXV /RFKH
9p]qUH 3HUFKHFRPPXQH
IUDQFKH %DUEDWXOD
3HUFDIOXYLDWLOLV
EDUEDWXOD /DPSURLHGH 3HUFKHVROHLO
%URFKHW (VR[
SODQHU /DPSHWUD /HSRPLV
OXFLXV $EOHWWH 7UXLWHDUFHQFLHO
9p]qUH SODQHUL *RXMRQ *RELR JLEERVXV
$OEXUQXVDOEXUQXV 2QFRUK\QFKXV
0DXPRQW JRELR &KHYHVQH 3RLVVRQFKDW
5RWHQJOH P\NLVV
6TXDOLXVFHSKDOXV $PHLXUXV
6FDUGLQLXV
%DUEHDXIOXYLDWLOH PHODV
HU\WKURSKWKDOPXV
%DUEXVEDUEXV
0DXPRQW &DUSHFRPPXQH
9DQGRLVH /HXFLVFXV
&\SULQXVFDUSLR
OHXFLVFXV $QJXLOOH
6DQGUH 6DQGHU
G (XURSH $QJXLOOD
OXFLRSHUFD
DQJXLOOD
/HV GHX[ WHUULWRLUHV GH JHVWLRQ &RUUq]H PR\HQQH HW 0RQWDQH 6DLQW%RQQHWWH RQW GHV
FDUDFWpULVWLTXHVGHVSHXSOHPHQWVSLVFLFROHVVLPLODLUHV/DPDMRULWpGHVFRXUVG·HDXGHFHV
WHUULWRLUHV VRQW JpUpV SDWULPRQLDOHPHQW /HXU ERQQH TXDOLWp SHUPHW DX[ SRSXODWLRQV GH
WUXLWHVGHUpDOLVHUOHXUF\FOHELRORJLTXHHWGHPDLQWHQLUGHVHIIHFWLIVFRQYHQDEOHV,OSHUVLVWH
WRXWHIRLVTXHOTXHVDOHYLQDJHVUpDOLVpVDYHFGHV±XIVRXGHVDOHYLQVjUpVRUSWLRQ
(QUHYDQFKHOHWHUULWRLUH9p]qUH0DXPRQWHQJOREHGHX[FRQWH[WHVHW&RUUq]HDYDOWURLV
/HV SRSXODWLRQV GH SRLVVRQV ULVTXHQW GH GLIIpUHU DLQVL TXH OHXU W\SH GH JHVWLRQ &HV
WHUULWRLUHV VXELVVHQW GH QRPEUHXVHV SUHVVLRQV OLpHV DX GpYHORSSHPHQW DQWKURSLTXH
DJULFXOWXUH PDvWULVH GH O·HDX YRLHV GH FLUFXODWLRQ /HV GpILFLWV HQ TXDOLWpV
K\GURPRUSKRORJLTXH HW SK\VLFRFKLPLTXH GHV FRXUV G·HDX LPSDFWHQW OH PDLQWLHQ GHV
SRSXODWLRQV/HVOkFKpVVRQWSOXVLPSRUWDQWVDYHFQRWDPPHQWGHVSRLVVRQVH[RJqQHV SDU
H[HPSOHODWUXLWHDUFHQFLHO HQYXHGHGpYHORSSHUOHORLVLUSrFKH
/HVEDLJQDGHV
/HWHUULWRLUHFRPPXQDXWDLUHSURSRVHVLWHVGHEDLJQDGHQDWXUHOVOHVpWDQJVGH5XIIDXG
6W3ULHVWGH*LPHO GH %RXUQD]HO 6HLOKDF 3Up FKDWRQ 6W6DOYDGRXU HW &KDQWHORLVHDX
&KDPERXOLYH
&HV EDLJQDGHV RQW WRXWHV XQ SURILO GH W\SH F HVWjGLUH TX·HOOHV QH SUpVHQWHQW SDV GH
ULVTXHV GH SROOXWLRQ DYpUpV /HV VRXUFHV SRWHQWLHOOHV GH SROOXWLRQV UHFHQVpHV VRQW
SULQFLSDOHPHQWOLpHVDX[HDX[XVpHVHWjO·pOHYDJH
2QFRQVWDWHHQHIIHWO·DEVHQFHGHULSLV\OYHHQERUGGHVFRXUVG·HDXDPRQWSHUPHWWDQW
O·DEUHXYHPHQWGLUHFWGHVERYLQVDLQVLTXHOHSLpWLQHPHQWGHVEHUJHVVRXUFHGHSROOXWLRQ
SRWHQWLHOOHDXQLYHDXGHODTXDOLWpGHO·HDX
/HVpWDQJV
6HORQ OD 'LUHFWLRQ 'pSDUWHPHQWDOH GHV 7HUULWRLUHV GH OD &RUUq]H FI 3URILO WHUULWRLUH 7XOOH
$JJOR LO H[LVWH SODQV G HDX VRXPLV j OD UpJOHPHQWDWLRQ FDU OHXU VXSHUILFLH HVW
VXSpULHXUHjPò
3URJUDPPH3OXULDQQXHOGH*HVWLRQGHVPLOLHX[DTXDWLTXHV
'RVVLHUGH'pFODUDWLRQG·,QWpUrW*pQpUDO
- SODQVG HDXVRQWFODVVpVHQHDX[FORVHV
- SODQVG HDXVRQWFODVVpVHQHDX[OLEUHV
- VRQWGHVSLVFLFXOWXUHVFRQVWUXLWHVDYDQWODORLSrFKHGXDYULO
- SLVFLFXOWXUHVIRQGpHVVXUWLWUH
- SLVFLFXOWXUHVjYDORULVDWLRQWRXULVWLTXH
8QHFRPSLODWLRQGHVGRQQpHVGHOD)pGpUDWLRQGHSrFKHGHOD&RUUq]HHWGHO LQYHQWDLUH
VXU GHV ]RQHV KXPLGHV SRWHQWLHOOHV UpDOLVp SDU (3,'25 D SHUPLV G LGHQWLILHU HQYLURQ
pWDQJV VXSSOpPHQWDLUHV &HW LQYHQWDLUH D pWp DIILQp HQ XWLOLVDQW GHV SKRWRV DpULHQQHV
UpFHQWHV$O KHXUHDFWXHOOHGXWHUULWRLUHDpWpWUDLWpGHFHWWHIDoRQHWHQWRXW
SODQV G HDX RQW pWp LQYHQWRULpV /D VXUIDFH HQ HDX GHV pWDQJV UHSUpVHQWH DXMRXUG·KXL
NPòVRLWXQHVXUIDFHPR\HQQHGHPòSDUSODQG·HDX
%LHQTXHO·HIIRUWGHSURVSHFWLRQQHVRLWSDVKRPRJqQHVXUOHWHUULWRLUHVLRQV·LQWpUHVVHjOD
UpSDUWLWLRQ GHV pWDQJV HQ IRQFWLRQ GHV WHUULWRLUHV GH JHVWLRQ LO DSSDUDvW TXH OHV VHFWHXUV
0RQWDQH6DLQW %RQQHWWH HW 9p]qUH0DXPRQW DFFXHLOOHQW SOXV GH GH OD VXUIDFH HQ
pWDQJ&HTXLV·H[SOLTXHSDUOHUHOLHIHQSODWHDXSOXVIDYRUDEOHjODUpDOLVDWLRQGHVSODQV
G·HDX2Q\WURXYHG·DLOOHXUVOHVGHX[SOXVJUDQGVSODQVG·HDXGH7XOOH$JJOR
- /·pWDQJGH7D\VVHVLWXpVXUOHUXLVVHDXGXPrPHQRPIDLWSOXVGHKD'HSDUVRQ
HPSODFHPHQW VXU OH FRXUV G·HDX HW O·pYDFXDWLRQ SDU VXUYHUVH LO SURYRTXH XQH
KDXVVHVHQVLEOHGHODWHPSpUDWXUHVXUOHUXLVVHDXHQDYDO
- /HODFGH%RXUQD]HOHVWOXLVLWXpGDQVOHEDVVLQGX%UH]RX'·XQHVXUIDFHKDLOD
IDLWO·REMHWG·XQHPLVHDX[QRUPHVDXFRXUVGHO·DQQpH
(QWHUPHGHGHQVLWpF·HVWVXUOHEDVVLQGX0DXPRQWTXHO·RQWURXYHOHSOXVG·pWDQJVDX
NPòDYHFSUHVTXHpWDQJVSDUNPò
/D SULVH HQ FRPSWH GHV pWDQJV GDQV OD JHVWLRQ GHV PLOLHX[ DTXDWLTXHV VXSSRVH GH
SUHQGUHHQFRPSWHSOXVLHXUVSDUDPqWUHV/HVpWDQJVIRQWSDUWLHGXSDWULPRLQHFXOWXUHOHW
SD\VDJHU GX /LPRXVLQ HW VRQW IUpTXHQWpV SRXU OD SrFKH OD UDQGRQQpH HW DXVVL OD
EDLJQDGH $ O·DPRQW GH FHUWDLQV pWDQJV VH VRQW SDUIRLV GpYHORSSpV GHV KDELWDWV WUqV
ULFKHVVXUOHSODQELRORJLTXH
0DLVGHQRPEUHX[pWDQJVRQWpWpPDOFRQoXVHWVRQWSDUIRLVLPSODQWpVVXUOHOLWGHVFRXUV
G·HDX &HV GHX[ IDFWHXUV WURS VRXYHQW FRQMXJXpV j XQH DEVHQFH GH JHVWLRQ IRQW GHV
3URJUDPPH3OXULDQQXHOGH*HVWLRQGHVPLOLHX[DTXDWLTXHV
'RVVLHUGH'pFODUDWLRQG·,QWpUrW*pQpUDO
AB
SODQV G·HDX XQH GHV FDXVHV SULQFLSDOHV GH GpJUDGDWLRQ GH O·pWDW GHV FRXUV G·HDX /HXU
LPSDFWVHUHVVHQWVXU
Ͳ ODTXDOLWpSK\VLFRFKLPLTXHGHO·HDX
Ͳ OHVGpELWVGHVULYLqUHV
Ͳ OHVKDELWDWVDTXDWLTXHV
Ͳ OHVSHXSOHPHQWVSLVFLFROHV
1RWRQV HQILQ TX·DXGHOj GH OD FRQFHSWLRQ HW GH OD WDLOOH GHV pWDQJV LO IDXW DXVVL WHQLU
FRPSWHGHO·HIIHWFXPXODWLIGDQVODSULVHHQFRPSWHGHO·LPSDFWGHVpWDQJVVXUOHVULYLqUHV
$FWLYLWpVQDWXUHOOHVHWFXOWXUHOOHV
7XOOH DJJOR UHFqOH GHV VLWHV HW pOpPHQWV SDWULPRQLDX[ SULQFLSDOHPHQW D[pV VXU GHV
UHVVRXUFHVQDWXUHOOHVHWFXOWXUHOOHV
- PRQXPHQWVKLVWRULTXHVPDLVDXVVLOHVLWHDUFKpRORJLTXHGHVDUqQHVGH7LQWLJQDF
j1DYHV
- /HVPXVpHV
- /HVFKHPLQVGHUDQGRQQpHV
- /HV VLWHV QDWXUHOV PDOJUp OD SUpVHQFH GH QRPEUHX[ VLWHV QDWXUHOV UHPDUTXDEOHV
IDLVDQW XQLTXHPHQW O·REMHW GH YLVLWH DFFRPSDJQp 7XOOH DJJOR QH FRPSWH
DFWXHOOHPHQW TX·XQ VHXO VLWH QDWXUHO UHFRQQX GX JUDQG SXEOLF OHV FDVFDGHV GH
*LPHO
(WDWGHVFRXUVG·HDX
/·pWDW'&(
/HVPpWKRGHVGHGpILQLWLRQGHO·pWDWGHVPDVVHVG·HDXVXUOHEDVVLQ$GRXU
*DURQQH
/DGpILQLWLRQGHO·pWDWGHVPDVVHVG·HDXVXUOHEDVVLQ$GRXU*DURQQHV·DSSXLHVRLWVXUOHV
VWDWLRQV GH PHVXUHV DSSDUWHQDQW DX[ GLIIpUHQWV W\SHV GH UpVHDX[ 5pVHDX[ GH &RQWU{OH
2SpUDWLRQQHO GH VXUYHLOODQFH &RPSOpPHQWDLUHV 'pSDUWHPHQWDX[ HWF VRLW VXU XQH
PRGpOLVDWLRQSRXUOHVULYLqUHVTXLQHVRQWSDVGRWpHVGHVWDWLRQVGHVXLYL
/HVUqJOHVGHTXDOLILFDWLRQSRXUOHVULYLqUHV
3RXUTXDOLILHUO·pWDWG·XQFRXUVG·HDXRQUHWLHQWVRQpWDWpFRORJLTXHHWVRQpWDWFKLPLTXH
DILQGHUHWHQLUO·pWDWOHSOXVGpFODVVDQW
3URJUDPPH3OXULDQQXHOGH*HVWLRQGHVPLOLHX[DTXDWLTXHV
'RVVLHUGH'pFODUDWLRQG·,QWpUrW*pQpUDO
/·pWDWpFRORJLTXH
3RXU O·pWDW pFRORJLTXH RQ UHWLHQW OD VLWXDWLRQ OD SOXV GpIDYRUDEOH HQWUH OHV YDULDEOHV
ELRORJLTXHVHWOHVFRQGLWLRQVSK\VLFRFKLPLTXH
/D ELRORJLH HVW FDUDFWpULVpH j SDUWLU GHV LQGLFHV GLDWRPpHV ,%' PDFURLQYHUWpEUpV
,%*1 HWSRLVVRQV ,35 /DYDOHXUUHWHQXHSRXUFKDTXHLQGLFHHVWODPR\HQQHGHVQRWHV
REWHQXHV/·pWDWELRORJLTXHJOREDOHVWGRQQpSDUO·LQGLFHOHSOXVGpFODVVDQW
/·pYDOXDWLRQ GH OD SK\VLFRFKLPLH SRUWH VXU SDUDPqWUHV UHJURXSpV HQ JURXSHV
G·pOpPHQWV GH TXDOLWp OH ELODQ GH O·R[\JqQH OD WHPSpUDWXUH OHV QXWULPHQWV D]RWH
SKRVSKRUH HW O·DFLGLILFDWLRQ /·pWDW SK\VLFRFKLPLTXH UHWHQX HVW FHOXL GX JURXSH GH
SDUDPqWUHV OH SOXV GpFODVVDQW &HSHQGDQW XQH PDUJH GH PDQ±XYUH HVW WROpUpH 6L OD
ELRORJLHHVWERQQH RXWUqVERQQH VXUXQHVWDWLRQHWTXHODSK\VLFRFKLPLHHVWPR\HQQH
RQSHXWUHTXDOLILHUFHWWHVWDWLRQHQERQpWDWSK\VLFRFKLPLTXH
/·pWDWFKLPLTXH
/D UqJOH G·pYDOXDWLRQ GH O·pWDW FKLPLTXH FRQVLVWH j FRPSDUHU OHV PR\HQQHV HW OHV SLFV
REVHUYpVVXUOHVVWDWLRQVDYHFOHVQRUPHVGHTXDOLWpHQYLURQQHPHQWDOHV 14( IL[pHVGDQV
OD GLUHFWLYH VXU OHV VXEVWDQFHV SULRULWDLUHV (Q VHXOHV VXEVWDQFHV VXU OHV GHV
DQQH[HV ,; HW ; GH OD '&( RQW pWp UHFKHUFKpHV VXU O·HDX &H PDQTXH G·LQIRUPDWLRQ D
WHQGDQFHjVRXVHVWLPHUO·LPSDFWGHVVXEVWDQFHVSULRULWDLUHVVXUOHPLOLHXHQ
/HVPDVVHVG·HDXQHGLVSRVDQWSDVGHVWDWLRQGHPHVXUHV
/HV PDVVHV G·HDX QHGLVSRVDQW SDV GH GRQQpHV PHVXUpHV RQW pWp pYDOXpHVVHORQ GHX[
LQIRUPDWLRQV
- OHXUpWDWLVVXGHO·pWDWGHVOLHX[UpYLVpHQ
- ODPRGpOLVDWLRQGHOHXUTXDOLWpLVVXHGH3(*$6( RXWLOGHPRGpOLVDWLRQGHOD
TXDOLWpGHVFRXUVG·HDX
/HV PDVVHV G·HDX LGHQWLILpHV HQ ERQ pWDW HQ VRQW FODVVpHV HQ ERQ pWDW 3RXU FHOOHV
pYDOXpHV HQ 5LVTXH GH 1RQ $WWHLQWH GX %RQ (WDW 51$%( O·pWDW UHWHQX HVW IRXUQL SDU OH
FURLVHPHQWFLGHVVRXV
/·LQGLFHGHFRQILDQFH
/D '&( LPSRVH O·DWWULEXWLRQ G·XQ QLYHDX GH FRQILDQFH DX[ pYDOXDWLRQV FKLPLTXHV HW
pFRORJLTXHV/HQLYHDXUHSRVHVXUODUREXVWHVVHGHVLQIRUPDWLRQVGLVSRQLEOHVHWVHGpFOLQH
HQFODVVHV pOHYp PR\HQ HW IDLEOH /HVPDVVHVG·HDXGRQWO·pWDWHVWHVWLPp
RQWO·LQGLFHGHFRQILDQFHOHSOXVIDLEOH
3URJUDPPH3OXULDQQXHOGH*HVWLRQGHVPLOLHX[DTXDWLTXHV
'RVVLHUGH'pFODUDWLRQG·,QWpUrW*pQpUDO
/·pWDWGHVPDVVHVG·HDXGH7XOOHDJJOR
$SUHPLqUHYXHOHWDEOHDXFLGHVVRXVSUpVHQWHXQHVLWXDWLRQTXLSRXUUDLWrWUHFRQVLGpUpH
FRPPHDFFHSWDEOHSXLVTXHGHVPDVVHVG·HDXVRQWFODVVpHVHQERQpWDW,OFRQYLHQW
FHSHQGDQWGHPRGpUHUFHVUpVXOWDWV
$XFXQH GHV PDVVHV G·HDX QH SUpVHQWH XQ WUqV ERQ pWDW FH TXL VLJQLILH TXH WRXWHV OHV
PDVVHVG·HDXVRQWVRXPLVHVjGHVSUHVVLRQVPrPHVLFHOOHVFLGHPHXUHQWPRGpUpHVVXUOD
SOXSDUWGHVULYLqUHV
3RXUGHX[WLHUVGHVPDVVHVG·HDXO·pWDWFKLPLTXHQ·DSDVpWpFRPPXQLTXpFHTXLVLJQLILH
TXHO·RQQHGLVSRVHSDVGHGRQQpHVXIILVDQWHSRXUGpILQLUFHWpWDW&HWWHDEVHQFHHVWj
PHWWUHHQSHUVSHFWLYHDYHFOHFRQVWDWIDLWSUpFpGHPPHQWVXUO·pWDWFKLPLTXH(QHIIHWVXU
OHV VWDWLRQV GH VXLYL VHXOH OD PRLWLp GHV VXEVWDQFHV RQW pWp UHFKHUFKpHV FH TXL WHQG j
PLQLPLVHU O·LPSDFW GX YROHW FKLPLTXH VXU O·pWDW GHV FRXUV G·HDX &HOD VH WUDGXLW SDU XQ
IDLEOHLQGLFHGHFRQILDQFHSRXUO·HQVHPEOHGHVPDVVHVRO·pWDWFKLPLTXHDpWpGpILQL
3RXU OHUDSSRUWDJH GH O·pWDW '&( VXU OH WHUULWRLUHVWDWLRQVDSSDUWHQDQW DX[
GLIIpUHQWVUpVHDX[GHVXLYLRQWSHUPLVGHGpILQLUO·pWDWGHPDVVHVG·HDX3RXUOD9p]qUHHW
PDVVHVG·HDXGHOD&RUUq]HO·LQGLFHGHFRQILDQFHHVWpOHYpDORUVTX·LOQ·HVWTXHPR\HQ
VXUOHVHFWHXUDPRQWGHOD&RUUq]HOD'RX\JHHWOD6RODQH/HVPDVVHVG·HDXQRQVXLYLHV
RQWGRQFIDLWO·REMHWG·XQHPRGpOLVDWLRQHWSDUFRQYHQWLRQLOHVWSUpYXG·DWWULEXHUOHSOXV
IDLEOHLQGLFHGHFRQILDQFHSRXUOHVpWDWVPRGpOLVpV
Hydro Etat Etat Etat Etat
Masse d'eau Cours d'eau Type Echéance Motivation
écorégion écologique chimique écologique chimique
FRFR496B la Vézère bon (M) bon M21 2021 CN,RT 2021 2015
HER 21 : Massif central Nord
3URJUDPPH3OXULDQQXHOGH*HVWLRQGHVPLOLHX[DTXDWLTXHV
'RVVLHUGH'pFODUDWLRQG·,QWpUrW*pQpUDO
'RX\JHHWOD6RODQHpWDLHQWHOOHVDXVVLLQWpJUpHVGDQVOHUpVHDXGHVXLYL,OQ·H[LVWHWRXMRXUV
SDV GH VWDWLRQ VXU OHV EDVVLQV GH OD 6DLQW %RQQHWWH HW GH OD 0RQWDQH &HSHQGDQW OH
0DXPRQW QRLU HW OH %UH]RX VRQW VXLYLV GHSXLV HW OH UXLVVHDX GH OD 5RGH HW OH 0D]HW
GHSXLV (QILQ OD TXDOLWp GH O·HDX VXU OHV ULYLqUHV PRGpOLVpHV SHXW rWUH HQ SDUWLH
FRPSOpWpH QRWDPPHQW DYHF OH VXLYL GHV SULVHV G·HDX GH VXUIDFH XWLOLVpHV SRXU
O·DOLPHQWDWLRQHQHDXSRWDEOH
/·pWDWGHVPDVVHVG·HDXHWOHVREMHFWLIVG·DWWHLQWHGXERQpWDWpFRORJLTXHVRQWSUpVHQWpV
FDUWHSDJHVXLYDQWH
$QDO\VH GH O·pWDW pFRORJLTXH GHV PDVVHV G·HDX GX WHUULWRLUH
FRPPXQDXWDLUHGLVSRVDQWGHVWDWLRQGHPHVXUH
Ğ
ƋƵ
Ğ
ĞĂƵ
Ƶ
ĐŚŝ LJƐŝĐ Ž
Ŷ
ƐƐĞ Ă
ƚƵƌ
Ğ
ΖĞ Ă
ƚŝŽ
ŽŐŝ
ŵĂ ĚĞů
ŝƋƵ
ƋƵ
ƚƐ
ďŝŽ ƚ
ĚΖ
ĞƌĂ
ŝĐ Ă
Ě
ƚ Ă
ĞŶ
ĐŽů
ŵŝ
Ś
ůŽŐ
ĂĐ ŝ
Ğ
ƵƌƐ
ƚƉ
ŵƉ
ĚŝĨ
ŐĞ Ŷ
ƚƌŝŵ
ĐŽĚ
ƚĠ
ƚ Ă
Ž
ƚĞ
ƚ Ă
ŽdžLJ
ŝďĚ
ŝďŐ
ŝƉƌ
ŶƵ
>ĂsĠnjğƌĞ &Z&Zϰϵϲ Ϯ ϭ ϭ h h Ϯ Ϯ ϭ ϭ ϭ
>ĞƌĞnjŽƵ &Z&ZZϰϵϲͺϮ ϯ ϯ ϯ ϯ ϯ ϭ Ϯ ϭ
>ĞDĂnjĞƚ &Z&ZZϵϳͺϮ ϯ Ϯ ϯ ϯ ϭ ϯ ϭ
>ĂZŽĚĞ &Z&ZZϱϭϲͺϭ ϯ ϯ ϯ ϯ ϯ ϯ ϭ Ϯ ϭ
>ĞDĂƵŵŽŶƚŶŽŝƌ &Z&ZZϴϵͺϭ Ϯ ϯ ϯ Ϯ Ϯ ϭ ϭ Ϯ ϭ
>ĂŽƵLJŐĞ &Z&ZZϵϱͺϮ ϯ Ϯ h h Ϯ ϯ Ϯ ϭ ϭ ϯ
&Z&Zϵϲ Ϯ h h h h Ϯ ϭ ϭ ϭ Ϯ
>ĂŽƌƌğnjĞĂŵŽŶƚ
&Z&Zϵϳ Ϯ ϭ ϭ ϭ ϭ Ϯ Ϯ ϭ ϭ ϭ
>Ă^ŽůĂŶĞ &Z&ZZϵϳͺϭ ϯ ϯ h h ϯ Ϯ Ϯ ϭ ϭ ϭ
&Z&Zϵϳ Ϯ Ϯ ϭ Ϯ h Ϯ Ϯ ϭ Ϯ ϭ
>ĂŽƌƌğnjĞĂǀĂů
&Z&ZϯϮϰ Ϯ Ϯ Ϯ Ϯ Ϯ Ϯ Ϯ ϭ Ϯ ϭ
/D9p]qUH
$XUHJDUGGHVUpVXOWDWVOD9p]qUHDSSDUDvWHQERQpWDWVXUOHVHFWHXUGHOD6RXGDLQHDX
%UDGDVFRXYRLUHHQWUqVERQpWDWVXUODSDUWLHDPRQW2QSHXWQRWHUXQHGpJUDGDWLRQGH
OD SK\VLFRFKLPLH HQ DX QLYHDX GH OD VWDWLRQ VLWXpH HQ DYDO G·8]HUFKH /D TXDOLWp
SK\VLFRFKLPLTXH pWDLW DORUV QRWpH FRPPH PR\HQQH VXLWH j XQH DXJPHQWDWLRQ GHV
FRQFHQWUDWLRQVHQSKRVSKRUHWRWDO
/HEDVVLQGHOD&RUUq]H
/D&RUUq]H
6XUOHEDVVLQHQDPRQWGH7XOOHODULYLqUHHVWPHVXUpHHQERQpWDWHWGHPHXUHVWDEOH(Q
DPRQW GHODFRPPXQH GH&RUUq]HOHVXLYL V·DUUrWH HQ /·pWDW GX FRXUV G·HDX \ HVW
FRQVLGpUp FRPPH ERQ PDLV LO Q·\ D SDV GH VXLYL ELRORJLTXH /HV ©SDUDPqWUHV OLPLWDQWª
VRQWOHVRUWKRSKRVSKDWHVHWO·DFLGLILFDWLRQ
&HERQpWDWpFRORJLTXHVHPDLQWLHQWHQDYDOGH&RUUq]H8QVXLYLELRORJLTXHDpWpUpDOLVp
GHSXLV HW FHWWH VWDWLRQ SUpVHQWH XQ WUqV ERQ pWDW ELRORJLTXH HW XQ pWDW SK\VLFR
FKLPLTXH ERQ OLPLWp SDU O·R[\JqQH &2' 2Q QRWH DXVVL XQH DXJPHQWDWLRQ GX
SKRVSKRUHWRWDOHQ
(Q DPRQW GH 7XOOH OD &RUUq]H GHPHXUH HQ ERQ pWDW pFRORJLTXH /HV SDUDPqWUHV
ELRORJLTXHVLQGLTXHQWXQVHFWHXUGHWUqVERQQHTXDOLWpHWVWDEOH&HSHQGDQWOHSRLQWGH
3URJUDPPH3OXULDQQXHOGH*HVWLRQGHVPLOLHX[DTXDWLTXHV
'RVVLHUGH'pFODUDWLRQG·,QWpUrW*pQpUDO
Programme pluriannuel de gestion des milieux aquatiques
Dossier de Déclaration d'Intérêt Général
Etat écologique et objectifs de bon état 11
des masses d'eau Ech. 1/180 000
Etat écologique des masses d'eau Objectifs de bon état écologique des masses d'eau
Madra Madra
nge nge
Rujoux Rujoux
e g e
yg uy
D ou Do
elle
elle
Troh Tro
Vimb
Vimb h
ze ze
de
Bo rrè rrè
de
au
Bo
ur Co Co
au
ur
en
et et
en
M
te te
M
Brezou Brezou
Ro Ro
de de
Bourre
So
lan
lan
Cé
Cé
e
e
ron
ron
ir
ir
No
No
ne
ne
nt
nt
t t
er er
mo
mo
lab lab
Sa Sa
u
u
Ma
Ma
Sa
int- Tayss Tayss
Bo e e
nne
ze tte
rrè ze
Co rrè
Co
ze
Ga
ze
Ga
Co u
ne
Co u
Ma
ne
ze Ma
tt
ze
tt
e
e
Ro t Ro
nd nd
ell ell
e e
Sa
Sa
g
ne
Tulle agglo
g
ne
ne
Tulle agglo
ne
Coiroux Coiroux
Souvig
Souvig
Territoire de gestion Mé Territoire de gestion
Mé jou
jou Cours d'eau Cours d'eau
Etat ecologique 2006
Va
Va
de
lei
de
lei
bon
ne
an
ne
an
2015
Br
médiocre
Br
2021
moyen 2027
Très bon
$QDO\VHGHO·pWDWpFRORJLTXHGHVPDVVHVG·HDXPRGpOLVpHV
/HVDIIOXHQWVGHOD9p]qUH
/D 0DGUDQJH OH 5XMRX[ HW OH 7URK RQW pWp FODVVpV HQ ERQ pWDW /H %UH]RX D pWp LGHQWLILp
FRPPH XQH PDVVH G·HDX SUpVHQWDQW XQ pWDW pFRORJLTXH PR\HQ ,O IDLW O·REMHW G·XQ VXLYL
GHSXLVHWOHVSUHPLHUVUpVXOWDWVFRQILUPHQWFHWpWDWpFRORJLTXHPR\HQ/·DPPRQLXP
FRQVWLWXDLWOHSDUDPqWUHGpFODVVDQWHQHW/DFRQFHQWUDWLRQDGLPLQXpHQ
HW OHV SDUDPqWUHV SK\VLFRFKLPLTXHV VRQW HQ ERQ YRLUH WUqV ERQ pWDW 0DLV OH %UH]RX
SUpVHQWHWRXMRXUVXQHTXDOLWpPR\HQQHGXIDLWG·XQLQGLFHPR\HQVXUOHVLQYHUWpEUpV
/HEDVVLQGHOD&RUUq]H
/D9LPEHOOHHWFHVDIIOXHQWV
/DPRGpOLVDWLRQGHO·pWDWpFRORJLTXHGHOD9LPEHOOHHWGHVHVDIIOXHQWVOD%ODQFKHULHOD
0HQDXGHHWOD%RXUHWWHIDLWUHVVRUWLUGHVPDVVHVG·HDXHQERQpWDWpFRORJLTXH6·LOQ·\D
SDVGHVWDWLRQGHVXLYLSRXUFHVFRXUVG·HDXLOH[LVWHGHX[SRLQWVGHFRQWU{OHVXUOHVSULVHV
G·HDX GH VXUIDFH SRXU O·$(3 VXU OH <HL[ HW OH *RUVH GHX[ DIIOXHQWV GH OD %RXUHWWH /HV
PDWLqUHV SKRVSKRUpHV OHV QLWUDWHV HW OHV PDWLqUHV D]RWpHV SUpVHQWHQW XQ ERQ pWDW (Q
UHYDQFKH VXU OH *RUVH O·pWDW HVW PR\HQ SRXU OHV PDWLqUHV RUJDQLTXHV HW R[\GDEOHV HW OD
EDFWpULRORJLH HW VXU OH <HL[ O·pWDW HVW PpGLRFUH SRXU OHV PDWLqUHV RUJDQLTXHV R[\GDEOHV
YRLUHPpGLRFUHSRXUODEDFWpULRORJLH
/HEDVVLQ0RQWDQH6W%RQQHWWH
/D PRGpOLVDWLRQ VXU OD 0RQWDQH GpILQLW OH FRXUV G·HDX FRPPH pWDQW HQ ERQ pWDW
pFRORJLTXH,OH[LVWHXQSRLQWGHVXLYL$56/VXUODSULVHG·HDXGX6\QGLFDW,QWHUFRPPXQDO
G·$OLPHQWDWLRQ HQ (DX 3RWDEOH GH OD 0RQWDQH VLWXp DX SRQW GH 5HL[ j (\UHLQ $ FHW
HQGURLW OHV GRQQpHV DQDO\VpHV DYHF OH 6(4 HDX PHWWHQW HQ pYLGHQFH XQ pWDW SK\VLFR
FKLPLTXHERQSRXUOHVQLWUDWHVHWWUqVERQSRXUOHVPDWLqUHVD]RWpHVHWSKRVSKRUpHVDLQVL
TXHSRXUOHVPDWLqUHVRUJDQLTXHVR[\GDEOHV(QUHYDQFKHODTXDOLWpGHO·HDXHVWPR\HQQH
VXUOHSODQGHODEDFWpULRORJLH
/D 6DLQW%RQQHWWH HW VHV DIIOXHQWV OH 6DODOEHUW OD *DQHWWH OD 5RQGHOOH HW OH UXLVVHDX GH
7D\VVHRQWWRXVpWpHVWLPpVHQERQpWDW/HUXLVVHDXGH%RXVVDFDIIOXHQWULYHJDXFKHGHOD
*DQHWWHIDLWO·REMHWG·XQVXLYL$(3/HVUpVXOWDWVGX6(4HDXIRQWUHVVRUWLUXQHERQQHYRLUH
WUqVERQQHTXDOLWpVDXISRXUODEDFWpULRORJLHRODTXDOLWpHVWMXJpHPpGLRFUH
3URJUDPPH3OXULDQQXHOGH*HVWLRQGHVPLOLHX[DTXDWLTXHV
'RVVLHUGH'pFODUDWLRQG·,QWpUrW*pQpUDO
/HVDIIOXHQWVGHOD&RUUq]HDYDO
/HVGHX[PDVVHVG·HDXGHOD&pURQQHVRQWHVWLPpHVHQERQpWDW/HUXLVVHDXGHOD5RGH
DIIOXHQW ULYH GURLWH GH OD &pURQQH D pWp PRGpOLVp HQ pWDW PpGLRFUH 8QH VWDWLRQ D pWp
PLVHHQSODFHVXUFHFRXUVG·HDXHQMXLQ/HVSUHPLqUHVGRQQpHVVHPEOHQWLQGLTXHU
XQ pWDW PR\HQ WDQW SRXU OD SK\VLFRFKLPLH TXH SRXU OD ELRORJLH 3RXU O·pWDW SK\VLFR
FKLPLTXH OH FDUERQH RUJDQLTXH GLVVRXW FRQVWLWXH OH SDUDPqWUH GpFODVVDQW 6XU OH SODQ
ELRORJLTXHOHVLQGLFHVLQYHUWpEUpVHWGLDWRPpHVVRQWWRXVOHVGHX[GHTXDOLWpPR\HQQH
/D&RX]HDpWpPRGpOLVpHHQpWDWPR\HQORUVGXUDSSRUWDJHVXUO·pWDWGHVPDVVHVG·HDX
/HVGRQQpHVHQUHJLVWUpHVDXSRLQWGHVXLYL$(3GHODUHWHQXHGH9pQDUVDOIRQW
UHVVRUWLUXQGpFODVVHPHQWHQTXDOLWpPpGLRFUHSRXUOHVPDWLqUHVHWRUJDQLTXHVR[\GDEOHV
/D TXDOLWp HVW ERQQH SRXU OHV PDWLqUHV D]RWpHV SKRVSKRUpHV OHV QLWUDWHV HW OD
EDFWpULRORJLH
/·HQVHPEOH GH PDVVHV G·HDX GX EDVVLQ GX 0DXPRQW %ODQF D pWp PRGpOLVp /H VHFWHXU
DPRQWGX0DXPRQW%ODQFHVWFODVVpHQERQpWDW1RWRQVFHSHQGDQWTXHOHVXLYL$(3DX
GURLWGHODVWDWLRQG·(DXJUDQGHIDLWUHVVRUWLUXQGpFODVVHPHQWHQTXDOLWpPR\HQQHSRXU
OHVPDWLqUHVRUJDQLTXHVR[\GDEOHV/HVHFWHXUDYDODpWpFODVVpHQpWDWPR\HQ
&RQFHUQDQW OHV DIIOXHQWV OH UXLVVHDX GX &KDXYLJQDF HVW FODVVp HQ ERQ pWDW DORUV TXH OH
0DXPRQW QRLU HVW FODVVp DYHF XQ pWDW PR\HQ 8QH VWDWLRQ GH VXLYL HVW LQVWDOOpH VXU OH
0DXPRQW QRLU GHSXLV /HV SDUDPqWUHV SK\VLFRFKLPLTXHV VRQW ERQV YRLUH WUqV ERQV
HQWUHHW,OQ·\DSDVHXGHVXLYLELRORJLTXHHQHWHQOHUpVXOWDWGXVXLYL
GLDWRPpH pWDLW ERQ (Q UHYDQFKH SRXU OH UpVXOWDW GH O·,%* 5&6 GpFODVVH OH FRXUV
G·HDXHQpWDWPR\HQ
/HUXLVVHDXGX0D]HWDpWpPRGpOLVpHQDYHFXQpWDWPpGLRFUH/HVUpVXOWDWVGH
OD VWDWLRQ LQVWDOOpH HQ LQGLTXHQW XQ pWDW SK\VLFRFKLPLTXH PR\HQ OLp DX SKRVSKRUH
WRWDO HW DX FDUERQH RUJDQLTXH GLVVRXV /·pWDW ELRORJLTXH HVW pYDOXp FRPPH ERQ DX
UHJDUGGHVVXLYLVGLDWRPpHVHWLQYHUWpEUpV
/DULSLV\OYH
/·pWDWJpQpUDOGHODULSLV\OYHDpWpGpILQLjSDUWLUGHVSDUDPqWUHVSULQFLSDX[GHGHVFULSWLRQ
GHODULSLV\OYHTXHVRQW
- ODFRQWLQXLWp
- ODODUJHXU
- ODGHQVLWp
- O·kJHGXSHXSOHPHQW
- ODGLYHUVLWpGHVHVSqFHV
8QH ULSLV\OYH HVW FRQVLGpUpH HQ ERQ pWDW TXDQG OH SHXSOHPHQW HVW FRPSRVp G·HVSqFHV
ORFDOHVHWDGDSWpHV/HSHXSOHPHQWGRLWFRPSUHQGUHGHVVWUDWHVKHUEDFpHDUEXVWLYHHW
DUERUHVFHQWH GLYHUVLILpHV HQ kJH HW HQ HVSqFHV 'DQV O·HVWLPDWLRQ GH O·pWDW JpQpUDO OHV
SHXSOHPHQWV kJpV VRQW PLHX[ QRWHU TXH OHV SHXSOHPHQWV MHXQHV &H FKRL[ GH SULYLOpJLHU
OHVYLHX[ERLVHPHQWVSUHQGHQFRPSWHOHU{OHSDWULPRQLDOGHFHVPLOLHX[
/·pWDW GH OD ULSLV\OYH HVW SUpVHQWp HQ DQQH[H GLDJUDPPHV GHV FDUDFWpULVWLTXHV GH OD
ULSLV\OYH
3URJUDPPH3OXULDQQXHOGH*HVWLRQGHVPLOLHX[DTXDWLTXHV
'RVVLHUGH'pFODUDWLRQG·,QWpUrW*pQpUDO
/HWHUULRLUH9p]qUH0DXPRQW
6XU WRXV OHV FRXUV G·HDX VDXI OD 0DGUDQJH RQ FRQVWDWH ORFDOHPHQW XQH ©DEVHQFH GH
ULSLV\OYHª TXL SHXW UHSUpVHQWHU GH j GX OLQpDLUH WRWDO SDU FRXUV G·HDX 8QH
DSSURFKHDXQLYHDXGHVWURQoRQVPHWHQpYLGHQFHTXHVHVRQWOHVWrWHVGHEDVVLQYHUVDQW
TXLVRQWOHVSOXVWRXFKpHV/·DEVHQFHGHULSLV\OYHFRQFHUQHHQWUHHWGXOLQpDLUH
VXUOHV ]RQHV GH VRXUFH /D 0DGUDQJH FRQVWLWXHDORUV XQFRXUV G·HDX SDUWLFXOLHU SXLVTXH
FHWWHULYLqUHQHSUHQGSDVVDVRXUFHVXUOHWHUULWRLUHFRPPXQDXWDLUH
/D SULVH HQ FRPSWH GHV GLIIpUHQWV SDUDPqWUHV IDLW UHVVRUWLU XQH ULSLV\OYH GDQV XQ pWDW
PR\HQ SRXU GX OLQpDLUH 8Q SHX SOXV GX TXDUW HVW HQ ERQ pWDW HW VHXOHPHQW HVW
pYDOXpHQWUqVERQpWDW*OREDOHPHQWLOV·DJLWG·XQFRUGRQOLJQHX[GRPLQpSDUXQHVWUDWH
DUERUHVFHQWH HW R OD YpJpWDWLRQ DUEXVWLYH HVW SHX SUpVHQWH /H QRPEUH G·HVSqFHV
UHFHQVpHVGDQVOHSHXSOHPHQWHVWIDLEOHHWOHVDUEUHVVRQWYLHLOOLVVDQWV(QILQGXOLQpDLUH
VRQWFODVVpVHQPDXYDLVpWDWVXUOHWHUULWRLUH/DULSLV\OYHSUHQGDORUVODIRUPHG·XQFRUGRQ
OLJQHX[ UHOLFWXHO GLVFRQWLQXH TXDVL PRQR VSpFLILTXH HW YLHLOOLVVDQW &H FDV GH ILJXUH VH
UHQFRQWUH VRLW TXDQG OH FRXUV G·HDX WUDYHUVH XQH SODQWDWLRQ GH UpVLQHX[ VRLW GDQV OHV
VHFWHXUVSkWXUpVRODFO{WXUHHVWDEVHQWHRXHQPDXYDLVpWDW
/HWHUULWRLUH&RUUq]HDYDO
/HV WURLV ULYLqUHV GLDJQRVWLTXpHV SUpVHQWHQW GHV SURILOV GH ULSLV\OYH WUqV GLIIpUHQWV 2Q
UHWLHQGUD TXH OD GHQVLWp GH OD VWUDWH DUERUHVFHQWH HVW SOXW{W IDLEOH VXU OD &RX]H HW OD
&pURQQHHWPR\HQQHSRXUOD&RUUq]H/DGHQVLWpDUEXVWLYHHVWWUqVQHWWHPHQWpSDUVHVXU
OD &pURQQH HW OD &RUUq]H DORUV TX·HOOH HVW FRQWLQXH VXU OD &RX]H /HV SHXSOHPHQWV GH OD
&RUUq]HHWGHOD&RX]HVRQWYLHLOOLVVDQWVHWSOXW{WpTXLOLEUpVVXUOD&pURQQH/DGLYHUVLWpGHV
HVSqFHVFRORQLVDQWODULSLV\OYHHVWIDLEOHSRXUODPRLWLpGHVVHFWHXUVGHOD&RXU]HHWGHOD
&pURQQHHWSRXUOHVVXUOD&RUUq]H(OOHHVWFRQVLGpUpHFRPPHPR\HQQHVXUOHVDXWUHV
VHFWHXUV
/·pWDWGHODULSLV\OYHV·DYqUHERQVXUGXOLQpDLUHHWPR\HQSRXUXQWLHUVHQYLURQGH
ODULSLV\OYHVRQWFHSHQGDQWFODVVpVHQPDXYDLVpWDW&HVVHFWHXUVVHVLWXHQWVXUGHV]RQHV
DJULFROHVGHOD&RX]H WURQoRQVHW HWUHSUpVHQWHQWDXVVLODWRWDOLWpGXWURQoRQGHOD
&pURQQH'HVVHFWHXUVGXWURQoRQGHOD&pURQQHHWGXWURQoRQGHOD&RUUq]HVLWXpV
GDQVODYLOOHGH7XOOHVRQWHX[DXVVLFRQVLGpUpVHQPDXYDLVpWDW
/HWHUULWRLUH&RUUq]HPR\HQQH9LPEHOOH
6XUFHWHUULWRLUHVHXOOHVWURQoRQVHWGHOD&RUUq]HRQWpWpGLDJQRVWLTXpV/DULSLV\OYHHVW
FRQWLQXHVXUGXOLQpDLUH6XUOHVVHFWHXUVDJULFROHVHWGDQVODWUDYHUVpHGXERXUJGH
&RUUq]H VRLW GXOLQpDLUHODULSLV\OYHD XQH ODUJHXU LQIpULHXUH j P 'DQVOHV VHFWHXUV
ERLVpV OD ULSLV\OYH RVFLOOH HQWUH HW SOXV GH P GH ODUJH /D YpJpWDWLRQ HVW FRQVWLWXpH
G·XQ FRXYHUW DUERUHVFHQW G·XQH GHQVLWp PR\HQQH DYHF XQH VWUDWH DUEXVWLYH pSDUVH ,O
V·DJLW G·XQ SHXSOHPHQW SOXW{W YLHLOOLVVDQW PDLV OHV LQWHUYHQWLRQV UpDOLVpHV DQQXHOOHPHQW
GDQVOHFDGUHGHVSDUFRXUVFDQRsWHQGHQWjOHUDMHXQLU(QHIIHWVXUODSDUWLHDYDOMXVTX·DX
PRXOLQGX%RVOHVGLIIpUHQWVHFWHXUVGHULSLV\OYHUHVVRUWHQWFRPPHpTXLOLEUpV
/·pWDWJpQpUDOGHODULSLV\OYHUHVVRUWFRPPHPR\HQjERQGDQVGHVSURSRUWLRQVjSHXSUqV
pTXLYDOHQWHV UHVSHFWLYHPHQW HW $ QRWHU TXHOTXHV VHFWHXUV LGHQWLILpV FRPPH
pWDQWHQWUqVERQpWDWQRWDPPHQWGDQVOHVVHFWHXUVGHJRUJHVHQDPRQWGH&RUUq]H
3URJUDPPH3OXULDQQXHOGH*HVWLRQGHVPLOLHX[DTXDWLTXHV
'RVVLHUGH'pFODUDWLRQG·,QWpUrW*pQpUDO
/HWHUULWRLUH0RQWDQH6DLQW%RQQHWWH
6XUFHWHUULWRLUHO·HIIRUWGHSURVSHFWLRQHVWPRLQVLPSRUWDQW2QFRQVWDWHFHSHQGDQWTXH
OD ULSLV\OYH HVW FRQWLQXH VXU GX OLQpDLUH GH OD 0RQWDQH HW GX OLQpDLUH GH OD
*DQHWWH
/·pWDW JpQpUDO VHPEOH JOREDOHPHQW ERQ YRLUH WUqV ERQ VXU SUHVTXH GX OLQpDLUH GH OD
0RQWDQH/HVVHFWHXUVLGHQWLILpVHQPDXYDLVpWDWQHUHSUpVHQWHQWTXHVXUOD*DQHWWHHW
VXU OD 0RQWDQH /D SURSRUWLRQ GH ULSLV\OYH D\DQW XQH ODUJHXU VXSpULHXUH j P HVW
QHWWHPHQWSOXVLPSRUWDQWHTXHVXUOHVDXWUHVWHUULWRLUHV,OIDXWFHSHQGDQWSUpFLVHUTXHOD
]RQHGHVRXUFHGHOD0RQWDQHVHVLWXHHQDPRQWGXWHUULWRLUHGH7XOOH$JJOR
/DULSLV\OYHGDQVOHVVHFWHXUVSkWXUpV
/HVSKpQRPqQHVGHGpJUDGDWLRQVGHVEHUJHVSDUOHEpWDLOVRQWREVHUYpVVXUODWRWDOLWpGHV
FRXUVG·HDXpWXGLpV4XDQGFHVFRXUVG·HDXWUDYHUVHQWGHVVHFWHXUVSkWXUpVRQFRQVWDWH
DXVVLGHVFKDQJHPHQWVDXQLYHDXGHVERLVHPHQWVGHEHUJHVTXLSUHQQHQWXQHDOOXUHGH
FRUGRQV OLJQHX[ LQIpULHXUV j P GH ODUJH ,OV VRQW VRXYHQW FRQVWLWXpV G·XQ WUqV IDLEOH
QRPEUH G·HVSqFHVYpJpWDOHV HW OHV DUEUHV SUpVHQWV VRQWYLHLOOLVVDQWV &HV ERLVHPHQWV VRQW
SDUIRLV GLVFRQWLQXV HWXQ OLQpDLUH QRQ QpJOLJHDEOHVHFDUDFWpULVHSDUXQHDEVHQFH WRWDOH
GHERLVHPHQW
&HVIRUPDWLRQVERLVpHVUpVLGXHOOHVQHVRQWSOXVHQFDSDFLWpG·DVVXUHUOHXUVIRQFWLRQV
• G·KDELWDWSRXUOHVHVSqFHVDTXDWLTXHV
• GHFRUULGRUELRORJLTXHFRPPHFRQGXLWSRXUODPLJUDWLRQGHVHVSqFHVHWOHWUDQVIHUW
GHVJUDLQHVHWGHVSURSDJXOHV VSRUHVUKL]RPHVGUDJHRQ
• GHPDLQWLHQGHVEHUJHVJUkFHDXV\VWqPHUDFLQDLUH
• G·pSXUDWLRQSDUO·DEVRUSWLRQGHVIOX[RUJDQLTXHV QLWUDWHVSKRVSKDWHV«
• LQHUWLHOOHHQUDOHQWLVVDQWO·RQGHGHFUXHHWLQWHUFHSWDQWODFKDUJHVROLGH
/·K\GURPRUSKRORJLH
/HVYDULDEOHVGHFRQWU{OHHWOHIRQFWLRQQHPHQWK\GURPRUSKRORJLTXH
/DPRUSKRORJLHG XQFRXUVG HDXHVWGLUHFWHPHQWOLpHDXUHOLHIHWDXFOLPDWGHODUpJLRQj
ODTXHOOH LO DSSDUWLHQW (Q HIIHW OH GpELW HW OD SHQWH VRQW OHV GHX[ FRPSRVDQWHV GH OD
SXLVVDQFHG XQFRXUVG HDXHWGRQFGHODFDSDFLWpGHFHOXLFLjFUHXVHUVRQOLW
/DJpRORJLHHVWODWURLVLqPHYDULDEOHPDMHXUHLQWHUYHQDQWGDQVOHIRQFWLRQQHPHQWK\GUR
PRUSKRORJLTXHGHODULYLqUH(QHIIHWjSXLVVDQFHpJDOHXQHULYLqUHQ DXUDSDVOHPrPH
SURILOVXUXQVRFOHFULVWDOOLQHWGDQVXQEDVVLQVpGLPHQWDLUH
/DFRPPXQDXWpG DJJORPpUDWLRQ7XOOHDJJORHVWVLWXpHVXUXQHSDUWLHGXVRFOHFULVWDOOLQGX
PDVVLIFHQWUDORVHF{WRLHQWGHVURFKHVpUXSWLYHVWHOOHVTXHOHVJUDQLWHVOHXFRJUDQLWHVHW
WRQDOLWHV HW GHV URFKHV PpWDPRUSKLTXHV FRPPH OHV JQHLVV OHV OHSW\QLWHV RX OHV
PLFDVKLVWHV
/ DOWpUDWLRQGHVURFKHVpUXSWLYHVSURGXLUDGHVDUqQHVJURVVLqUHVVDEORJUDYHOHXVHHWOHVVROV
VDEOHX[ GpULYpV GH FHV DOWpUDWLRQV GRQQHURQW GHV EHUJHV SOXW{W pURGDEOHV (Q UHYDQFKH
OHVURFKHVPpWDPRUSKLTXHVHQVHGpJUDGDQWYRQWSURGXLUHGHVVROVSOXVULFKHVHQDUJLOHV
HWHQOLPRQVHWGRQFPRLQVIDFLOHPHQWpURGDEOHV
3RXU OH UHOLHI QRXV SRXYRQV UHWHQLU WURLV HQVHPEOHV /D &RUUq]H V pFRXOH GDQV XQH YDOOpH
SOXW{WpWURLWHDYHFGHVYHUVDQWVDX[SHQWHVDEUXSWHV/HSODWHDXG 8]HUFKHFRPPHVRQ
3URJUDPPH3OXULDQQXHOGH*HVWLRQGHVPLOLHX[DTXDWLTXHV
'RVVLHUGH'pFODUDWLRQG·,QWpUrW*pQpUDO
/HVIDFLHVHWOHVVXEVWUDWV
(QJpQpUDQWGHVKDXWHXUVG·HDXGLIIpUHQWHVHWHQWULDQWQDWXUHOOHPHQWOHVVpGLPHQWVVHORQ
OHXU JUDQXORPpWULH FHV DOWHUQDQFHV G·pURVLRQ HW GH GpS{W VRQW j O·RULJLQH GH OD GLYHUVLWp
GHFHUWDLQVKDELWDWVDTXDWLTXHVTXHO·RQDSSHOOHDXVVLGHVIDFLHVG·pFRXOHPHQW/·pWXGH
GHFHVIDFLHVG·pFRXOHPHQWSHUPHWGHUHQGUHFRPSWHGHO·pWDWGXFRXUVG·HDX
8QHFDUWRJUDSKLHGHVIDFLHVDpWpUpDOLVpH&HSHQGDQWDYDQWG·pQRQFHUGHVFRQVWDWVVXU
OHV UpVXOWDWV REWHQXV LO IDXW SUpFLVHU TX·LO H[LVWH GHV ELDLV GDQV OD UpDOLVDWLRQ GH FHWWH
SUHPLqUHFDUWRJUDSKLH
3URJUDPPH3OXULDQQXHOGH*HVWLRQGHVPLOLHX[DTXDWLTXHV
'RVVLHUGH'pFODUDWLRQG·,QWpUrW*pQpUDO
&RPSWHWHQXGXOLQpDLUHGHFRXUVG·HDXjGLDJQRVWLTXHULODpWpFKRLVLGDQVXQSUHPLHU
WHPSVGHVLPSOLILHUO·RSpUDWLRQHQFDUWRJUDSKLDQWOHVVXFFHVVLRQVGHUDGLHUPRXLOOHHWQRQ
SDVFKDTXHIDFLHV
/D SUHPLqUH FOp GH GpWHUPLQDWLRQ GHV IDFLqV V·HVW UpYpOpH GLIILFLOH j XWLOLVHU 1RXV DYRQV
GRQF FKRLVL G·XWLOLVHU OD FOp GH GpWHUPLQDWLRQ GHV IDFLHV G·pFRXOHPHQW GH ULYLqUHV HQ
PRQWDJQHTXLHVWPLHX[DGDSWpHSRXUOHVFRXUVGHSHWLWVJDEDULWVGXWHUULWRLUH,ODGRQF
IDOOXUHSUHQGUHOHVGRQQpHVSRXUOHVKDUPRQLVHU
/DSKDVHWHUUDLQSRXUOHGLDJQRVWLFGHOD&RUUq]HDpWpUpDOLVpHDYHFGHVQLYHDX[G·HDX
UHQGDQWGLIILFLOHOHUHSpUDJHGHFHUWDLQVIDFLHV
(QILQXQHSDUWLHGHVGRQQpHVRQWpWpFROOHFWpHVSDUG·DXWUHVRSpUDWHXUVFHTXLVHWUDGXLW
SDUIRLVSDUXQHLQWHUSUpWDWLRQGLIIpUHQWHQRWDPPHQWSRXUGHVIDFLHVGHWUDQVLWLRQFRPPH
SDUH[HPSOHOHVSDUWLHVDPRQWGHVUDGLHUV&HVOLPLWHVGDQVODFDUWRJUDSKLHQRXVLQYLWHQWj
XWLOLVHUOHVGRQQpHVGXGLDJUDPPHVXLYDQWDYHFEHDXFRXSGHSUXGHQFH
$XSUHPLHUUHJDUGRQSHXWQRWHUXQHFHUWDLQHGLYHUVLWpGDQVOHVIDFLHVUHQFRQWUpVVXUOHV
FRXUV G·HDX GX WHUULWRLUH /D VXFFHVVLRQ GH UDGLHU HW GH PRXLOOH HVW ELHQ UHSUpVHQWpH
MXVTX·jrWUHRPQLSUpVHQWHVVXUOD0DGUDQJHTXLIDLWILJXUHG·H[FHSWLRQ
(QUHYDQFKHFHVDOWHUQDQFHVVRQWUDUHVVXUOD&RUUq]HTXLHVWGRPLQpHSDUOHVSODWVHWOHV
SURIRQGV PrPH VL FHV GHUQLHUV VRQW SUREDEOHPHQW VXUHVWLPpV GDQV OHV UpVXOWDWV REWHQXV
/HVIDFLHVSURIRQGVVRQWDXVVLWUqVSUpVHQWVVXUOHVDXWUHVFRXUVG·HDXGXSODWHDXG·8]HUFKH
HWVXUOD0RQWDQH
/D0HQDXGHHWOH6DODEHUWSUpVHQWHQWXQHQHWWHGRPLQDQFHGHVIDFLHVUDSLGHV3RXUFHV
GHX[ FRXUV G·HDX OHV GRQQpHV SUpVHQWpHV VRQW LVVXHV GHV GLDJQRVWLFV UpDOLVpV SDU
O·$$330$ GH 7XOOH DYHF OD PrPH FOp GH IDFLHV PDLV SDU GHV RSpUDWHXUV GLIIpUHQWV
&HSHQGDQW FHV GHX[ FRXUV G·HDX SUpVHQWHQW GHV SHQWHV DVVH] IRUWHV ,OV RQW OD PrPH
RULHQWDWLRQ QRUGHVWVXGRXHVW HW SDUWDJHQW DXVVL OH IDLW GH V·pFRXOHU VXU OD IDLOOH
G·$UJHQWDW 3RLQW GH MRQFWLRQ HQWUH OHV *QHLVV GX %DV OLPRXVLQ HW OHV *UDQLWHV GX SODWHDX
GH0LOOHYDFKHFHWWH]RQHVHWUDGXLWSDUGHVIRUWVGpQLYHOpV
3URJUDPPH3OXULDQQXHOGH*HVWLRQGHVPLOLHX[DTXDWLTXHV
'RVVLHUGH'pFODUDWLRQG·,QWpUrW*pQpUDO
3RXUILQLUXQHWUqVODUJHPDMRULWpGHVFRXUVG·HDXYRLWVRQOLQpDLUHSDUWLHOOHPHQWDUWLILFLDOLVp
SDUGHVDPpQDJHPHQWV&HWWHSURSRUWLRQVHUDLWVDQVGRXWHHQFRUHSOXVLPSRUWDQWHVLFHW
DVSHFW DYDLW pWp SULV HQ FRPSWH GDQV OHV GLDJQRVWLFV GH OD 0HQDXGH OD 5RQGHOOH HW OH
6DODEHUWUpDOLVpSDUO·$$330$GH7XOOH
/HV VXEVWUDWV GRPLQDQWV UHQFRQWUpV HW SUpVHQWpV GDQV OH GLDJUDPPH FLGHVVXV VRQW
DXVVL WUqV GLYHUVLILpV 2Q SHXW pJDOHPHQW QRWHU XQH FHUWDLQH FRUUpODWLRQ DYHF OHV IDFLHV
G·pFRXOHPHQW 3RXU OD 0DGUDQJH FDUDFWpULVpH SDU GHV DOWHUQDQFHV UDGLHUPRXLOOH RQ
FRQVWDWH TXH OH VXEVWUDW GRPLQDQW HVW OD SLHUUH SRXU SOXV GH GH VRQ OLQpDLUH HW XQH
WUqVIDLEOHSDUWGHOLPRQPDOJUpODSUpVHQFHGHSLpWLQHPHQW
'DQVOHVFRXUVG·HDXD\DQWXQHFDSDFLWpGHWUDQVSRUWLPSRUWDQWHRQSHXWDXVVLFLWHUOD
0HQDXGH OD &RUUq]H OD 5RQGHOOH HW OH 6DODEHUW PrPH VL SRXU FHV GHX[ GHUQLHUV LO
FRQYLHQWDXVVLGHUHPDUTXHUODSUpVHQFHGHYDVHVXUFHUWDLQVVHFWHXUV
/D SDUWLFXODULWp GHV ULYLqUHV GHV FRXUV G·HDX GX SODWHDX G·8]HUFKH VH UHVVHQW GDQV XQH
SURSRUWLRQ GH VpGLPHQWV ILQV QHWWHPHQW VXSpULHXUH DX[ DXWUHV ULYLqUHV ,O HVW HQ UHYDQFKH
GLIILFLOH GH IDLUH OD SDUW HQWUH O·LQIOXHQFH GHV SUHVVLRQV TXL V·H[HUFHQW OHV pWDQJV OH
SLpWLQHPHQW« HWODSUpVHQFHQDWXUHOOHGHFHVVpGLPHQWV
/D0RQWDQHOH0DXPRQW%ODQFOH%UH]RXV·pFRXOHQWHQSDUWLHVXUGHVURFKHVJUDQLWLTXHV
GRQW RQ D SUpFLVp TX·HOOHV JpQpUDLHQW GHV VROV j WHQGDQFH VDEORQQHXVH ,O HVW GRQF
ORJLTXHTXHFHVDEOHVHUHWURXYHGDQVFHUWDLQVVHFWHXUVGHVULYLqUHV0DLVTXDQGOHVDEOH
FRXYUH HQWUH HW GX OLQpDLUH LO HVW SOXV TXH SUREDEOH TXH OH IRQFWLRQQHPHQW
K\GURPRUSKRORJLTXHVRLWGpJUDGp
/HVSHUWXUEDWLRQV
/HVSHUWXUEDWLRQVGXIRQFWLRQQHPHQWGHVFRXUVG·HDXSHXYHQWSUHQGUHSOXVLHXUVIRUPHVHW
OHXUV RULJLQHV VRQW GLYHUVHV 3RXU IDFLOLWHU OD SUpVHQWDWLRQ QRXV DYRQV GpFLGp GH OHV
UHJURXSHU VRXV GHX[ JUDQGHV FDWpJRULHV OHV WUDYDX[ RX XVDJHV TXL PRGLILHQW OHV OLJQHV
G·HDXHQDJLVVDQWVXUOHGpELWHWOHVLQWHUYHQWLRQVVXUODJpRPpWULHGXOLWPLQHXU
3URJUDPPH3OXULDQQXHOGH*HVWLRQGHVPLOLHX[DTXDWLTXHV
'RVVLHUGH'pFODUDWLRQG·,QWpUrW*pQpUDO
/HVOLJQHVG·HDX
>ŝŶĠĂŝƌĞĚĞĐŽƵƌƐĚΖĞĂƵŵŝƐĞŶďŝĞĨŽƵĚĠƌŝǀĂƚŝŽŶ hƐĂŐĞƐăůΖŽƌŝŐŝŶĞĚĞƐŵŝƐĞƐĞŶďŝĞĨĞƚĚĠƌŝǀĂƚŝŽŶ
ϯϱй
ϭй W
WŽƵƌĐĞŶƚĂŐĞĚƵůŝŶĠĂŝƌĞ
ϯϬй ϭй
Ϯϱй ϲй ŐƌŝĐƵůƚƵƌĞ
ϭϳй
ϮϬй ŶƚƌĞƉƌŝƐĞ
ϭϱй ϭϲй
ϱй ƚĂŶŐͬDŽƵůŝŶ
ϭϬй Ϯй
ĚĠƌŝǀĂƚŝŽŶ Ϭй ,LJĚƌŽĠůĞĐƚƌŝĐŝƚĠ
ϱй
ŵŝƐĞĞŶďŝĞĨ WĂƌƚŝĐƵůŝĞƌ
Ϭй
DƵůƚŝƉůĞ
ϱϮй hƌďĂŶŝƐĂƚŝŽŶĞƚǀŽŝƌŝĞ
EZ
/DPRGLILFDWLRQGHVOLJQHVG HDXWRXFKHQWWRXVOHVFRXUVG HDXPDLVGDQVXQHSURSRUWLRQ
TXLQ·H[FqGHSDVGXOLQpDLUHVDXISRXUOD&RUUq]H
6XUOD&RUUq]HDPRQWO LPSDFWOHSOXVIRUWHVWODGpULYDWLRQGHNPTXLDOLPHQWHO XVLQHGH
%DU& HVWODGpULYDWLRQODSOXVORQJXHHWF HVWSRXUTXRLO XVDJHK\GURpOHFWULTXHUHVVRUWWUqV
IRUWHPHQWVXUODUpSDUWLWLRQGHVXVDJHVjO RULJLQHGHVSUHVVLRQV/HJUDSKLTXHFLGHVVXVQH
SUHQGSDVHQFRQVLGpUDWLRQO·LPSDFWGHVpFOXVpHVTXLHVWSHUFHSWLEOHMXVTX·j7XOOHVRLWVXU
HQYLURQNPGHSOXV
/D PLVH HQ ELHI HVW SOXW{W FRQVWDWpH VXU OD &RUUq]H DYDO /D WUDYHUVpH GH 7XOOH HQ HVW
O H[HPSOH OH SOXV IUDSSDQW 0DLV j O·DYDO GH 7XOOH DXWUHV VHXLOV JpQqUHQW GHV UHPRXV
FRQVLGpUDEOHVVXUOD&RUUq]HHQWUH7XOOHHW*DUHG·$XED]LQH
6L OHV PRGLILFDWLRQV GHV OLJQHV G HDX VRQW SOXV PRGHVWHV VXU OHV DXWUHV FRXUV G HDX HOOHV
SHXYHQW rWUH WUqVGRPPDJHDEOHV SRXU OH PLOLHX/RFDOHPHQWLO DpWp FRQVWDWpGHV PLVHV
HQDVVHFGXFRXUVSULQFLSDOjFDXVHGHODPDXYDLVHJHVWLRQGHSDUWLWHXUG pWDQJ
/DGHX[LqPHFDXVHLGHQWLILpHjO RULJLQHGHVPRGLILFDWLRQVGHOLJQHVG·HDXFRQFHUQHOHV
ELHIVGHPRXOLQVHWO DOLPHQWDWLRQGHVpWDQJV/DWUqVJUDQGHPDMRULWpGHFHVRXYUDJHVVRQW
PDLQWHQXV FRPPH OLHX G·DJUpPHQW PDLV QH IRQW O·REMHW G·XQH JHVWLRQ HW G·XQ HQWUHWLHQ
DGDSWp(QILQGXOLQpDLUHHVWLPSDFWpSDUGHVDPpQDJHPHQWVVDQVXVDJHDSSDUHQW
HWVRXYHQWjO·DEDQGRQ
/HVWUDYDX[VXUOLWPLQHXU
>ŝŶĠĂŝƌĞŝŵƉĂĐƚĠƉĂƌůĞƐƚƌĂǀĂƵdžĚĂŶƐůĞůŝƚŵŝŶĞƵƌ
ϰϬй
WŽƵƌĐĞŶƚĂŐĞĚƵůŝŶĠĂŝƌĞ
ϯϱй
ϯϬй
Ϯϱй
ϮϬй
ϭϱй
ϭϬй
ϱй
Ϭй
3URJUDPPH3OXULDQQXHOGH*HVWLRQGHVPLOLHX[DTXDWLTXHV
'RVVLHUGH'pFODUDWLRQG·,QWpUrW*pQpUDO
6XUOHOLQpDLUHPRGLILpSDUGHVWUDYDX[OHVWUDYDX[GHSURWHFWLRQFRQWUHOHVFUXHVVRQWOHV
SOXVIUpTXHQWV/HVGLJXHVHWOHVSURWHFWLRQVGHEHUJHVUHSUpVHQWHQWGHFHVWUDYDX[
&HV DPpQDJHPHQWV RQW pWp UpDOLVpV GDQV OHV ]RQHV XUEDLQHV RX SRXU SURWpJHU GHV
LQIUDVWUXFWXUHVGHWUDQVSRUW
/H VHFWHXU OH SOXV WRXFKp SDU FHV RSpUDWLRQV FRQFHUQH OD WUDYHUVpH GH 7XOOH 'X TXDL
&RQWLQVRX]DDX TXDUWLHU GH6RXLOKDF OD &RUUq]H SUpVHQWH XQ SURILOWUqVFKHQDOLVp (OOH HVW
FRQWUDLQWH ODWpUDOHPHQW VXU SUHVTXH NP SDU GHV PXUV YHUWLFDX[ VXU OHV GHX[ ULYHV &H
FDUDFWqUH DUWLILFLHO HVW UHQIRUFp SDU OHV VHXLOV GH &KRLVLQHW OD &LWp HW 6RXLOKDF GRQW OHV
UHPRXVFRQIqUHQWjOD&RUUq]HXQSURILOGHSODQG·HDXGpSRXUYXGHEHUJHVYpJpWDOLVpHV
/D ULYLqUH SUpVHQWH DXMRXUG·KXL XQ SURILO HQ WUDYHUV SURFKH G·XQ UHFWDQJOH DYHF XQ OLW
G·pWLDJHWUqVSHXPDUTXpYRLUHLQH[LVWDQWGHO·DPRQWGXSRQWGHV&DUPHVDXVHXLOGHOD
&LWp
/D&RUUq]HGDQV7XOOH
ZĠƉĂƌƚŝƚŝŽŶĚĞƐƚƌĂǀĂƵdžĞŶůŝƚŵŝŶĞƵƌ W
hƐĂŐĞƐăůΖŽƌŝŐŝŶĞĚĞƐƚƌĂǀĂƵdžĞŶůŝƚŵŝŶĞƵƌ
Ϯй Ϭй ϯй ŐƌŝĐŽůĞ
ďƵƐĂŐĞ Ϯй
ĐƵƌĂŐĞ
DŽƵůŝŶ
ϭϲй
ϴй
ĚŝŐƵĞ ŶƚƌĞƉƌŝƐĞ
ϯϬй
ϳй ůĞǀĂĚĞ Ϯϰй
WĂƌƚŝĐƵůŝĞƌ
ƉƌŽƚĞĐƚŝŽŶĚĞďĞƌŐĞ
Ϯϴй
ƌĞĐĂůŝďƌĂŐĞ sŽŝƌŝĞƌĠƐĞĂƵĚŝǀĞƌƐ
ϯϬй ϭϮй ƌĞĐƚŝĨŝĐĂƚŝŽŶ ϱй
^dW
ƌĞŵďůĂŝĞŵĞŶƚ ϱй
^LJůǀŝĐƵůƚƵƌĞ
Ϯϲй ϭй
Ϭй ŽŶĞƵƌďĂŝŶĞ
ϭй
^ĂŶƐƵƐĂŐĞĐŽŶŶƵ
/H GHX[LqPH XVDJH j O RULJLQH GH WUDYDX[ HQ OLW PLQHXU HVW O DJULFXOWXUH GRQW OHV
DPpQDJHPHQWVFRQFHUQHQWGHVOLQpDLUHVGHWUDYDX[,OV·DJLWVXUWRXWGHUHFDOLEUDJH
GH UHFWLILFDWLRQ GDQV OH FDGUH G·RSpUDWLRQ GH GUDLQDJH HW GH EXVDJHV GH FRXUV G HDX
SRXUOHIUDQFKLVVHPHQWGHVFRXUVG HDX
6XUOHVVHFWHXUVDPRQWGX7URKGX5XMRX[HWGHOD&pURQQHFHVWUDYDX[RQWFRPSOqWHPHQW
GpVpTXLOLEUp OH SURILO GHV UXLVVHDX[ 2Q FRQVWDWH DXMRXUG·KXL GHV SKpQRPqQHV G·LQFLVLRQ
GHVOLWVHWG·pURVLRQUpJUHVVLYH/HVFRXUVG·HDXHQV·HQIRQoDQWGDQVOHXUOLWRQWSURYRTXp
ODGpVWDELOLVDWLRQG·RXYUDJHVGHIUDQFKLVVHPHQWHWODGLVSDULWLRQGHO·DUPXUHGXIRQGGXOLW
TXLHVWXQKDELWDWDTXDWLTXHLQGLVSHQVDEOHSRXUOHVHVSqFHVDTXDWLTXHV
3URJUDPPH3OXULDQQXHOGH*HVWLRQGHVPLOLHX[DTXDWLTXHV
'RVVLHUGH'pFODUDWLRQG·,QWpUrW*pQpUDO
/H7URK /H5XMRX[
/D&pURQQH /D&pURQQH
5HTXDOLEUDJHHWLQFLVLRQGXOLW
/DFRQWLQXLWpSLVFLFROH
/·pWDWGHODFRQWLQXLWpSLVFLFROHVXUOHWHUULWRLUHGH7XOOHDJJORHVWSUpVHQWpSDJHVXLYDQWH
FDUWH
/HWHUULWRLUHGHJHVWLRQ&RUUq]HPR\HQQH9LPEHOOH
/H WHUULWRLUH &RUUq]H PR\HQQH9LPEHOOH HVW OH PRLQV LPSDFWp SDU O·DQWKURSLVDWLRQ DYHF
RXYUDJHNP HW RXYUDJH LQIUDQFKLVVDEOHNP VXU O·HQVHPEOH GHV FRXUV G·HDX
SURVSHFWpV/DPDMRULWpGHVWrWHVGHEDVVLQHVWGpFRQQHFWpHGHVD[HVSULQFLSDX[SDUGHV
FKXWHVQDWXUHOOHVRXGHVRXYUDJHVLQIUDQFKLVVDEOHV
/D0HQDXGHHVWOHVHXOFRXUVG·HDXYLHUJHGHWRXWREVWDFOHVXUNPVRLWHQYLURQGH
VRQ OLQpDLUH VXU OH WHUULWRLUH GH 7XOOH $JJOR /D &RUUq]H GDQV VD SDUWLH PR\HQQH HVW
GpFRQQHFWpH SDU XQH FKXWH QDWXUHOOH LQIUDQFKLVVDEOH 0rPH VL DXFXQ RXYUDJH
LQIUDQFKLVVDEOH Q·D pWp UHFHQVp SOXVLHXUV VHXLOV RQW GHV GLVSRVLWLIV GH IUDQFKLVVHPHQW SHX
HIILFDFHVHWOHXUIUDQFKLVVHPHQWHVWGLIILFLOH
/D %RXUHWWH HVW FRXSpH GH OD 9LPEHOOH NP DYDQW OD FRQIOXHQFHSDU XQ VHXLO HQ ULYLqUH
8QHLPSRUWDQWHFKXWHQDWXUHOOHGHPGHKDXWHXUHVWORFDOLVpHMXVWHjO·DYDOGXVHFRQG
VHXLO LQIUDQFKLVVDEOH HPSrFKDQW WRXWH UHPRQWpH GHV WUXLWHV /D SDUWLH DPRQW HVW
IRUWHPHQW LPSDFWpH SDU GHV pWDQJV WRWDOHPHQW LQIUDQFKLVVDEOHV /D 9LPEHOOH PDOJUp OHV
DPpQDJHPHQWVGpMjHIIHFWXpVVXUODSDUWLHDYDOHVWGpFRQQHFWpHGHOD&RUUq]HNPHQ
DPRQWGHODFRQIOXHQFHSDUXQVHXLOHQULYLqUH/D]RQHDPRQWHVWWUqVHQFDLVVpHDYHFGH
QRPEUHXVHVFKXWHVLQIUDQFKLVVDEOHV
3URJUDPPH3OXULDQQXHOGH*HVWLRQGHVPLOLHX[DTXDWLTXHV
'RVVLHUGH'pFODUDWLRQG·,QWpUrW*pQpUDO
/HWHUULWRLUHGHJHVWLRQ&RUUq]HDYDO
0DOJUp OH IDLEOH QRPEUH GH FRXUV G·HDX SURVSHFWp OH WHUULWRLUH GH JHVWLRQ &RUUq]H DYDO
DSSDUDLW DVVH] DQWKURSLVp DYHF SUqV GH RXYUDJHVNP HW LQIUDQFKLVVDEOHNP /D
&RUUq]H GDQV VD SDUWLH DYDO HVW IUDQFKLVVDEOH SDU OHV WUXLWHV VXU OD WRWDOLWp GH VRQ OLQpDLUH
JUkFHDX[GLVSRVLWLIVGHIUDQFKLVVHPHQWPLVHQSODFH
(Q UHYDQFKH OD &pURQQH HVW WRWDOHPHQW GpFRQQHFWpH VXU OD WRWDOLWp GH VRQ FRXUV
/·DPRQW HVW PDMRULWDLUHPHQWLPSDFWp SDU GHV EXVHV j XVDJHDJULFROH 6XU OD SDUWLHDYDO
HOOH HVW FRXYHUWH VXU XQ OLQpDLUH GH P j VHXOHPHQW P GH OD FRQIOXHQFH DYHF OD
&RUUq]H3XLVTXHOTXHVGL]DLQHVGHPqWUHVSOXVKDXWXQVHXLOGHPGHKDXWHXUEORTXH
WRWDOHPHQWODPLJUDWLRQGHVWUXLWHV8QHJUDQGHSDUWLHGXOLQpDLUHGHOD&RX]HHVWOLEUHjOD
FLUFXODWLRQ GHV WUXLWHV NP HW VD SDUWLH DPRQW HVW IUDFWLRQQpH SDU GHV EXVHV HW GHV
pWDQJV ,O IDXW FHSHQGDQW QRWHU TXH OD PDMHXUH SDUWLH GX EDVVLQ HVW GpFRQQHFWp GH OD
&RUUq]HSDUODUHWHQXHG·DOLPHQWDWLRQHQHDXSRWDEOHGH9pQDUVDOHQYLURQNPDYDQWOD
FRQIOXHQFH
/HWHUULWRLUHGHJHVWLRQ0RQWDQH6DLQW%RQQHWWH
/·DQWKURSLVDWLRQGXWHUULWRLUH0RQWDQH6DLQW%RQQHWWHHVWPRGpUpHDYHFRXYUDJHNP
HW LQIUDQFKLVVDEOHNP VXU O·HQVHPEOH GHV FRXUV G·HDX SURVSHFWpV /D PDMRULWp GHV
RXYUDJHVSUpVHQWVVXUOD0RQWDQHVRQWIUDQFKLVVDEOHV&HSHQGDQWXQVHXLOLQIUDQFKLVVDEOH
VLWXp j NP HQ DPRQW GH OD FRQIOXHQFH DYHF OD 6DLQW%RQQHWWH EORTXH OD FLUFXODWLRQ
GHVWUXLWHV&HOXLFLGRLWIDLUHO·REMHWSURFKDLQHPHQWGHWUDYDX[SRXUUpWDEOLUODFLUFXODWLRQ
SLVFLFROH 8Q GHX[LqPH VHXLO HPSrFKH O·DFFqV jOD]RQHDPRQWHWG·LPSRUWDQWHVFKXWHV
QDWXUHOOHVWRWDOHPHQWLQIUDQFKLVVDEOHVVFLQGHQWFHWWHULYLqUHHQGHX[
/D 6DLQW%RQQHWWH HVW DFFHVVLEOH DX[ WUXLWHV VXU NP DYDQW XQ VHXLO HW XQH FKXWH
LQIUDQFKLVVDEOH /D SDUWLH DPRQW HVW IDLEOHPHQW DQWKURSLVpH DYHF XQLTXHPHQW XQ pWDQJ
IUDQFKLVVDEOHSDUVDGpULYDWLRQ
/H UXLVVHDX GH *DQHWWH HVW GpFRQQHFWp P DYDQW OD FRQIOXHQFH DYHF OD 6DLQW
%RQQHWWH SDU XQH VXFFHVVLRQ GH WURLV VHXLOV LQIUDQFKLVVDEOHV 3OXVLHXUV FKXWHV QDWXUHOOHV
LQIUDQFKLVVDEOHV VRQW SUpVHQWHV VXU OD SDUWLH PpGLDQH HW O·DPRQW HVW IUDFWLRQQp SDU GHV
EXVHV
/·DYDO GH OD 5RQGHOOH HVW IUDQFKLVVDEOH SDU OHV WUXLWHV VXU HQYLURQ NP MXVTX·j XQH FKXWH
QDWXUHOOH/DSDUWLHDPRQWVXELWO·LPSDFWGHVEXVHV6RQSUHPLHUDIIOXHQWOH5XLVVHDXGHOD
*DQQH HVW WRWDOHPHQW GpFRQQHFWp SDU XQ SRQW VLWXp j NP GH OD FRQIOXHQFH HW
SOXVLHXUVFKXWHVQDWXUHOOHVIUDFWLRQQHQWODSDUWLHDPRQW/HGHX[LqPHDIIOXHQWOH5XLVVHDX
G·$UJHDVVRXHVWGpFRQQHFWpDYDQWODFRQIOXHQFHSDUXQHFKXWHQDWXUHOOHHWGHX[EXVHV
LQIUDQFKLVVDEOHVVHWURXYHQWjO·DPRQW
6HXOHPHQW P GX 6DODEHUW VRQW FRQQHFWpV j OD 6DLQW%RQQHWWH j FDXVH G·XQ DQFLHQ
VHXLO LQIUDQFKLVVDEOH 3OXVLHXUV FKXWHV QDWXUHOOHV PRUFqOHQW FH FRXUV G·HDX GDQV VD SDUWLH
PpGLDQH
/HWHUULWRLUHGHJHVWLRQ9p]qUH0DXPRQW
/H WHUULWRLUH 9p]qUH0DXPRQW HVW OH SOXV DQWKURSLVp DYHF RXYUDJHVNP HW
LQIUDQFKLVVDEOHNPVXUOHVFRXUVG·HDXSURVSHFWpV/HVWrWHVGHEDVVLQGHV0DXPRQW1RLU
HW %ODQF VRQW FRPSOpWHPHQW IUDFWLRQQpHV SDU GHV RXYUDJHV LQIUDQFKLVVDEOHV FRPSRVpV
PDMRULWDLUHPHQWGHEXVHV
/·HQVHPEOH GX OLQpDLUH GX %Up]RX HW GX 7URK VXELW OHV PrPHV LPSDFWHV DYHF XQH IRUWH
SUpVHQFH G·pWDQJV /H 5XMRX[ HVW TXDQW j OXL YLHUJH G·RXYUDJHV LQIUDQFKLVVDEOHV VXU OHV
VHSW SUHPLHUV NLORPqWUHV DX VHLQ GHV OLPLWHV GH 7XOOH $JJOR 8QH FKXWH QDWXUHOOH
LQIUDQFKLVVDEOHGpFRQQHFWHWRXWGHPrPHFHWURQoRQ/DSDUWLHDPRQWHVWjO·LPDJHGHV
FRXUVG·HDXSUpFpGHQWVIUDJPHQWpHSDUGHVEXVHVHWGHVSODQVG·HDX
3URJUDPPH3OXULDQQXHOGH*HVWLRQGHVPLOLHX[DTXDWLTXHV
'RVVLHUGH'pFODUDWLRQG·,QWpUrW*pQpUDO
/D 0DGUDQJH HVW IUDQFKLVVDEOH VXU NP HQ DPRQW GH OD FRQIOXHQFH DYHF OD 9p]qUH
MXVTX·jXQSUHPLHUVHXLOLQIUDQFKLVVDEOH/DSDUWLHHQDPRQWGHFHOXLFLHVWLPSDFWpHSDU
WURLV RXYUDJHV LQIUDQFKLVVDEOHV /H 5XLVVHDX GH *DQHWRUWH HVW GpFRQQHFWp GH OD
0DGUDQJHSDUXQHFKXWHLQIUDQFKLVVDEOHVLWXpHjPGHODFRQIOXHQFHHWSDUXQSRQW
VLWXpPHQDPRQWGHFHOOHFL
3URJUDPPH3OXULDQQXHOGH*HVWLRQGHVPLOLHX[DTXDWLTXHV
'RVVLHUGH'pFODUDWLRQG·,QWpUrW*pQpUDO
1$785( &216,67$1&( 92/80( 23e5$7,216 (19,6$*e(6 (7
58%5,48('(/$120(1&/$785(
/D GHVFULSWLRQ GHV WUDYDX[ HVW UpDOLVpH GDQV OH SDUDJUDSKH GH OD SDUWLH 'pFODUDWLRQ
G·,QWpUrW*pQpUDOGXSUpVHQWGRFXPHQW
/DQRPHQFODWXUHGHVLQVWDOODWLRQVRXYUDJHVWUDYDX[HWDFWLYLWpVVRXPLVjDXWRULVDWLRQRXj
GpFODUDWLRQ HQ DSSOLFDWLRQ GHV DUWLFOHV HVW FRGLILpH GDQV OH &RGH GH O·(QYLURQQHPHQW
SDUWLHUpJOHPHQWDLUHOLYUH,,
/HWDEOHDXFLGHVVRXVSUpVHQWHOHVUXEULTXHVYLVpHVHQIRQFWLRQGHVW\SRORJLHVGHWUDYDX[
SURJUDPPpHV
5XEULTXH 7UDYDX[FRQFHUQpVSDUODUXEULTXH
5XEULTXH
,QVWDOODWLRQV RXYUDJHV WUDYDX[ RX DFWLYLWpV Ͳ 5HVWDXUDWLRQ GH FDSDFLWpV QDWXUHOOHV
FRQGXLVDQW j PRGLILHU OH SURILO HQ ORQJ RX OH G·pFRXOHPHQWVGHVDQQH[HVK\GUDXOLTXHV
SURILOHQWUDYHUVGXOLWPLQHXUG XQFRXUVG HDXj
O H[FOXVLRQGHFHX[YLVHVjODUXEULTXHRX Ͳ 5HVWDXUDWLRQGHODFRQWLQXLWppFRORJLTXH
FRQGXLVDQWjODGpULYDWLRQG XQFRXUVG HDX SDU O·DPpQDJHPHQW RX VXSSUHVVLRQ
G·REVWDFOHVjO·pFRXOHPHQW
6XU XQH ORQJXHXU GH FRXUV G HDX VXSpULHXUH
RXpJDOHjPSURFpGXUHG·DXWRULVDWLRQ
5XEULTXH
3URJUDPPH3OXULDQQXHOGH*HVWLRQGHVPLOLHX[DTXDWLTXHV
'RVVLHUGH'pFODUDWLRQG·,QWpUrW*pQpUDO
,1&,'(1&(6'(623e5$7,216352-(7e(6685/·(19,5211(0(17
/HVLQFLGHQFHVGHVWUDYDX[SURJUDPPpVVRQWGpWDLOOpHVGDQVOHVSDUDJUDSKHVVXLYDQWVSDU
W\SRORJLH GH WUDYDX[ &HUWDLQV WUDYDX[ QH VRQW SDV FRQFHUQpV SDU OHV UXEULTXHV GH OD
QRPHQFODWXUHGX&RGHGHO·(QYLURQQHPHQW/HXUVLQFLGHQFHVVRQWQpDQPRLQVGpFULWHV
3RXU UDSSHO SOXVLHXUV WUDYDX[ IHURQW O·REMHW XOWpULHXUHPHQW G·XQ GRVVLHU G·DXWRULVDWLRQ
SURSUH DYDQW OHXU UpDOLVDWLRQ HW DSUqV GpILQLWLRQ GX SURMHW /HV LQFLGHQFHV GH FHV SURMHWV
VHURQWGpFULWHVGDQVFHGRVVLHU
$FWLRQVVXUOHVDQQH[HVK\GUDXOLTXHVHWOLWPDMHXU
5HVWDXUDWLRQ GHV FDSDFLWpV QDWXUHOOHV G·pFRXOHPHQW GHV DQQH[HV
K\GUDXOLTXHV
&HV WUDYDX[ VRQW VRXPLV j GpFODUDWLRQ RX DXWRULVDWLRQ DX WLWUH GX &RGH GH
O·(QYLURQQHPHQW
,PSDFWVK\GUDXOLTXHV
&HV WUDYDX[ YRQW SHUPHWWUH G·DPpOLRUHU OHV FRQGLWLRQV GH FRQQH[LRQV K\GUDXOLTXHV HQWUH
OHVEUDVVHFRQGDLUHVHWOD&RUUq]H
,PSDFWVVXUO·pFRV\VWqPH
/RUV GH OD UpDOLVDWLRQ GHV WUDYDX[ OD IDXQH HW OD IORUH ORFDOH VHURQW SHUWXUEpHV SDU OHV
WUDYDX[ GH UHWUDLW GHV HQFRPEUHV &HV LPSDFWV QpJDWLIV QH VHURQW QpDQPRLQV TXH
WHPSRUDLUHVHWVHURQWYLWHFRPSHQVpVSDUODSOXVYDOXHpFRORJLTXHTXHFHVWUDYDX[YRQW
HQJHQGUHUHQWHUPHGHGLYHUVLILFDWLRQG·KDELWDWV
,PSDFWVVXUODTXDOLWpGHO·HDX
/HV DQQH[HV pWDQW GpFRQQHFWpHV LO Q·\ DXUD SDV GH GpSDUWV GH PDWLqUHV HQ VXVSHQVLRQ
ORUVGHVWUDYDX[GHVFDULILFDWLRQ
6HXO j OD ILQ GHV WUDYDX[ DX PRPHQW GH OD UHPLVH HQ HDX SDU O·DPRQW GH O·DQQH[H OHV
pFRXOHPHQWVVRQWVXVFHSWLEOHVG·HQWUDLQHUGHVGpSDUWVGHPDWLqUHVHQVXVSHQVLRQ&HX[FL
SHXYHQWrWUHSUpMXGLFLDEOHVjODTXDOLWpGHO·HDXHWGHVKDELWDWVHQDYDO
/DUHPLVHHQHDXQHVHIHUDSDVHQSpULRGHG·pWLDJHDILQGHOLPLWHUO·LPSDFWGHVWUDYDX[
VXUODTXDOLWpSK\VLFRFKLPLTXHGXFRXUVG·HDX
,PSDFWVXUOHVXVDJHVHWLPSDFWKXPDLQ
/RUV GH OD UpDOLVDWLRQ GHV WUDYDX[ GHV ULVTXHV GH QXLVDQFH HW G·DFFLGHQW VRQW OLpV j OD
SUpVHQFHG·HQJLQVHWDX[WUDYDX[HQJDJpV&HVDPpQDJHPHQWVQ·DXURQWSDVG·LPSDFWV
DSUqVODUpDOLVDWLRQGHVWUDYDX[
$FWLRQVVXUOHVEHUJHVHWODULSLV\OYH
7UDYDX[VXUODULSLV\OYH
&HV WUDYDX[ QH VRQW SDV VRXPLV DX UpJLPH GH GpFODUDWLRQ RX G·DXWRULVDWLRQ DX WLWUH GX
&RGHGHO·(QYLURQQHPHQW
3URJUDPPH3OXULDQQXHOGH*HVWLRQGHVPLOLHX[DTXDWLTXHV
'RVVLHUGH'pFODUDWLRQG·,QWpUrW*pQpUDO
/HVIRQFWLRQQDOLWpVGHODULSLV\OYH
/D ULSLV\OYH HVW XQH FRPSRVDQWH HVVHQWLHOOH GX IRQFWLRQQHPHQW GHV FRXUV G·HDX HW
SUpVHQWHSOXVLHXUVIRQFWLRQQDOLWpV
5pJXODWLRQGHVpFRXOHPHQWV
/D YpJpWDWLRQ ULYHUDLQH D OH SRXYRLU GH UDOHQWLU OHV GpSODFHPHQWV GH O RQGH GH FUXHV HW
pFUrWH DLQVL VRQ PD[LPXP (OOH SHXW DXVVL VHUYLU GH UpVHUYRLU WHPSRUDLUH FDSDEOH GH
VWRFNHU OHV VXUSOXV G HDX TXH OD ULYLqUH QH SHXW pYDFXHU GDQV O LQVWDQW FHWWH HDX VHUD
UHOkFKpH OHQWHPHQW DX IXU HW j PHVXUH GH OD GpFUXH /D UpJXODWLRQ WRXFKH DXVVL OHV
PDWpULDX[VROLGHVPDWLqUHVHQVXVSHQVLRQVDEOH«
3URWHFWLRQGHEHUJHV
8QH ULSLV\OYH FRPSRVpH G·HVSqFHV YpJpWDOHV GLYHUVLILpHV HW DX V\VWqPH UDFLQDLUH
GpYHORSSpIDYRULVHO DQFUDJHGRQFOLPLWHO pURVLRQGHVEHUJHV
4XDOLWHGHVHDX[
/DYpJpWDWLRQULYHUDLQHDJLWFRPPHXQILOWUHpSXUDWHXU
• HQIDYRULVDQWO LQILOWUDWLRQDXGpSHQGGXUXLVVHOOHPHQW
• HQpOLPLQDQWOHVQLWUDWHV
• HQIL[DQWOHVSKRVSKDWHV
• HQUHWHQDQWOHVSDUWLFXOHVVROLGHV
• HQpYLWDQWSDUVRQRPEUDJHOHUpFKDXIIHPHQWGHVHDX[«
5LFKHVVHELRORJLTXHHWUHIXJHSRXUODIDXQH
/D ULSLV\OYH RIIUH j OD IDXQH FDFKHV HW DEULV DUEUHV FUHX[ VRXVFDYHV HPEDFOHV HWF
QRXUULWXUH EDLHVGpEULVYpJpWDX[LQVHFWHVWRPEDQWGHVDUEUHVHWF HWVLWHVIDYRUDEOHVj
ODUHSURGXFWLRQ KHUELHUVUDFLQHVHWF
'H SOXV FHV ORQJV FRUULGRUV VRQW XQ IDFWHXU VWUXFWXUDQW UHOLDQW OHV PDVVLIV IRUHVWLHUV HW
VHUYDQWGHUHIXJHjODIDXQHVDXYDJH
6DQVRXEOLHUELHQVXUOHU{OHGHVWUXFWXUDWLRQHWGHGLYHUVLILFDWLRQSD\VDJqUHTXHMRXHXQH
ULSLV\OYHGLYHUVLILpHG·RPEUDJHSRXUOHVUDQGRQQHXUVHQTXrWHGHIUDLFKHXU
,QFLGHQFHVGHVLQWHUYHQWLRQV
3RXUPDLQWHQLUOHVIRQFWLRQQDOLWpVGHODULSLV\OYHGHVWUDYDX[VRQWHVVHQWLHOVSRXUSURFpGHU
SURJUHVVLYHPHQWjVRQUHQRXYHOOHPHQW
- OHUHFpSDJHGHODYpJpWDWLRQHQSODFH
- ODSUpVHUYDWLRQHWPLVHHQYDOHXUGHVVWUDWHVDUEXVWLYHVHWEXLVVRQQDQWHV
- GHVSODQWDWLRQVGLYHUVLILpHVHWSOXULVWUDWLILpHVHVVHQFHVDGDSWpHV
/·HQVHPEOHGHVWUDYDX[SUpYXVVXUFHWWHFRPSRVDQWHYDSHUPHWWUH
- GH UHFRQVWLWXHU RX GH SUpVHUYHU XQH ULSLV\OYH pTXLOLEUpH HW GLYHUVLILpH kJH
HVVHQFHV
- GH PDLQWHQLU HW GH UHVWDXUHU GHV KDELWDWV DTXDWLTXHV HQ EHUJH VRXVEHUJHV
VRXFKHVEUDQFKHVEDVVHV
- GHOLPLWHUOHVULVTXHVG·pURVLRQGHEHUJH
3URJUDPPH3OXULDQQXHOGH*HVWLRQGHVPLOLHX[DTXDWLTXHV
'RVVLHUGH'pFODUDWLRQG·,QWpUrW*pQpUDO
- GH PDLQWHQLU XQH DOWHUQDQFH GH ]RQHV RPEUDJpHV HW pFODLUpHV SHUPHWWDQW
G·DSSRUWHUXQHGLYHUVLWpG·KDELWDWV
- G·DPpOLRUHU OHV FRQGLWLRQV G·pFRXOHPHQWV HW GRQF G·DPpOLRUHU OH WUDQVSRUW VROLGH
GDQVOHOLWGXUXLVVHDXHQIDYRULVDQWOHGpFROPDWDJHGHVVXEVWUDWV
- GHGLPLQXHUOHULVTXHG·DFFXPXODWLRQGHERLVOHORQJGHVRXYUDJHVK\GUDXOLTXHVRX
GHVRXYUDJHVG·DUW
/HV HQFRPEUHV FRQVWLWXHQW GHV KDELWDWV SULPRUGLDX[ SRXU GH QRPEUHXVHV HVSqFHV 8QH
DWWHQWLRQSDUWLFXOLqUHVHUDGRQFDSSRUWpHDX[KDELWDWVTX·LOVFRQVWLWXHQW/HVLQWHUYHQWLRQV
VHURQW GRQF PLQLPDOLVWHV VXU OHV FRXUV G·HDX DYHF OH PDLQWLHQ DX PD[LPXP GHV SDUWLHV
LPPHUJpHVHWGHVSDUWLHVHQEHUJH
/XWWHFRQWUHODGpVWDELOLVDWLRQGHVEHUJHVHWGXVXEVWUDWSDUOHVERYLQV
&HV WUDYDX[ QH VRQW SDV VRXPLV DX UpJLPH GH GpFODUDWLRQ RX G·DXWRULVDWLRQ DX WLWUH GX
&RGHGHO·(QYLURQQHPHQW
,OVFRQVLVWHQWSULQFLSDOHPHQWj
- ODPLVHHQSODFHGHFO{WXUHVOHORQJGHVFRXUVG·HDX
- O·DPpQDJHPHQWGHSRLQWVG·DEUHXYHPHQW DEUHXYRLUV
&HVWUDYDX[SHUPHWWHQW
- ODUpGXFWLRQGHVDSSRUWVGHVpGLPHQWVHWGHPDWLqUHVRUJDQLTXHVDX[FRXUVG·HDX
HWGRQFODUpGXFWLRQGHVSKpQRPqQHVGHFROPDWDJHGHVVXEVWUDWV
- O·DPpOLRUDWLRQGHODTXDOLWpSK\VLTXHGHVEHUJHVHQpYLWDQWOHSLpWLQHPHQW$WHUPH
OHVKDELWDWVGHEHUJHVHUHFRQVWLWXHURQWSURJUHVVLYHPHQWVXLWHDODFRORQLVDWLRQGHV
EHUJHVSDUOHVKpORSK\WHVHWOHVOLJQHX[
- O·DPpQDJHPHQWGHSRLQWVG·DEUHXYHPHQWHWGHSRLQWVGHIUDQFKLVVHPHQWSRXUOHV
DQLPDX[SHUPHWGHPDLQWHQLUO·XVDJHVXUOHVSDUFHOOHVFRQFHUQpHV
$FWLRQVVXUOHOLWPLQHXU
(QOqYHPHQW VpOHFWLI HW VHFWRULVp GHV HQFRPEUHV HW VXSSUHVVLRQV GHV
HQFRPEUHV SHUWXUEDQW O·pFRXOHPHQW DX GURLW GHV RXYUDJHV SXEOLFV RX OD
SpUHQQLWpGHVLQIUDVWUXFWXUHV
&HV WUDYDX[ QH VRQW SDV VRXPLV DX UpJLPH GH GpFODUDWLRQ RX G·DXWRULVDWLRQ DX WLWUH GX
&RGHGHO·(QYLURQQHPHQW
&HV WUDYDX[ DXURQW j WHUPH XQ LPSDFW SRVLWLI VXU O·pFRXOHPHQW GHV HDX[ (Q HIIHW OD
VXSSUHVVLRQG·XQHSDUWLHGHVHQFRPEUHVIDFLOLWHO·pFRXOHPHQW
5HVWDXUDWLRQ GH OD FRQWLQXLWp pFRORJLTXH SDU O·DPpQDJHPHQW RX OD
VXSSUHVVLRQG·REVWDFOHVjO·pFRXOHPHQW
6XSSUHVVLRQG·RXYUDJHVGHWUDYHUVpHDJULFROH
&HV WUDYDX[ QH VRQW SDV VRXPLV DX UpJLPH GH GpFODUDWLRQ RX G·DXWRULVDWLRQ DX WLWUH GX
&RGHGHO·(QYLURQQHPHQW
3URJUDPPH3OXULDQQXHOGH*HVWLRQGHVPLOLHX[DTXDWLTXHV
'RVVLHUGH'pFODUDWLRQG·,QWpUrW*pQpUDO
/HUHWUDLWG·RXYUDJHVGHIUDQFKLVVHPHQWQHSUpVHQWDQWSOXVG·XVDJH SDVVHUHOOHVSDVVDJHV
EXVpV SHUPHWGHUHVWDXUHUOHVFRQGLWLRQVG·pFRXOHPHQWGDQVOHOLWPLQHXUGHVFRXUVG·HDX
HQ pYLWDQW OH ULVTXH G·DFFXPXODWLRQ GH ERLV IORWWpV HW GH UXSWXUH GH OD FRQWLQXLWp
pFRORJLTXH
$PpQDJHPHQWRXVXSSUHVVLRQVHXLOV
&HV WUDYDX[ VRQW VRXPLV j GpFODUDWLRQ RX DXWRULVDWLRQ DX WLWUH GX &RGH GH
O·(QYLURQQHPHQW
/·REMHFWLI HVW G·DPpOLRUHU OH IUDQFKLVVHPHQW SLVFLFROH HW OH WUDQVLW VpGLPHQWDLUH VXU OHV
RXYUDJHVEORTXDQWV
,PSDFWK\GUDXOLTXH
/HV LPSDFWV K\GUDXOLTXHV VHURQW GpFULWV GDQV OHV GRVVLHUV G·DXWRULVDWLRQ QpFHVVDLUHV HQ
IRQFWLRQGHVRXYUDJHVUHWHQXV
(QUqJOHVJpQpUDOHVOHVLPSDFWVK\GUDXOLTXHVVRQWQpJOLJHDEOHVVLO·LQWHUYHQWLRQQHWRXFKH
TXHO·DYDOGHVRXYUDJHVHWQRQODVWUXFWXUH
3DUDLOOHXUVODVXSSUHVVLRQG·XQRXYUDJHPRGLILHOHVOLJQHVG·HDXjODEDLVVHHWFRQWULEXHj
GLPLQXHU OHV IUpTXHQFHV GH GpERUGHPHQW j O·DPRQW GH O·RXYUDJH &HV WUDYDX[ DXURQW
GRQFXQLPSDFWSRVLWLIVXUO·pFRXOHPHQWGHVHDX[
(QILQFRPSWHWHQXGHODJpRORJLHHWGHODPRUSKRORJLHGHVYDOOpHV HQFDLVVpHV LOQ·\D
SDV GH ULVTXH GH EDLVVH GH OD QDSSH G·DFFRPSDJQHPHQW OHV DTXLIqUHV Q·pWDQW SDV
VXIILVDPPHQWGpYHORSSpSRXUFRQVWLWXHUXQHUHVVRXUFH
,PSDFWVXUODFRQWLQXLWppFRORJLTXH
&LUFXODWLRQGHVHVSqFHV
&HWWHDFWLRQDXUDXQHIIHWEpQpILTXHVXUOHIUDQFKLVVHPHQWSLVFLFROHGHO·REVWDFOH
/HV RXYUDJHV GDQV OH OLW PLQHXU G·XQ FRXUV G·HDX FRQVWLWXHQW GHV REVWDFOHV j OD OLEUH
FLUFXODWLRQ GHV HVSqFHV DTXDWLTXHV /HV DFWLRQV HQJDJpHV YLVHQW j UpWDEOLU OD FLUFXODWLRQ
GHV HVSqFHV SRXU SHUPHWWUH OD UpDOLVDWLRQ GDQV OHV PHLOOHXUHV FRQGLWLRQV SRVVLEOHV GH
O·HQVHPEOHGHOHXUF\FOHELRORJLTXH
&LUFXODWLRQGHVVpGLPHQWV
/D SOXSDUW GHV RXYUDJHV TXHO TXH VRLW OH W\SH GH FRXUV G·HDX EORTXHQW OD SOXV JUDQGH
SDUWLHGHODFKDUJHDOOXYLDOHJURVVLqUHGHIRQG FHOOHWUDQVSRUWpHSDUFKDUULDJH &HWHIIHW
GH SLpJHDJH SHUGXUH HQ JpQpUDO MXVTX·j FH TXH OH VHXLO VRLW SOHLQ HW GHYLHQQH
©WUDQVSDUHQWªDXWUDQVSRUWVROLGH
&HSHQGDQWPrPHVLO·DPRQWGHO·RXYUDJHHVWFRPEOpSDUGHVVpGLPHQWVOHVHXLOUpGXLWOD
YLWHVVHGHWUDQVLWGHVVpGLPHQWVJURVVLHUVSDU
- OD SHQWH K\GUDXOLTXH HQ DPRQW GH O·RXYUDJH JpQpUDOHPHQW WUqV LQIpULHXUH j OD
SHQWHQDWXUHOOHGXFRXUVG·HDX
- OHUHPSOLVVDJHGXELHITXLHQJHQGUHXQHSHQWHSDUDOOqOHSOXVKDXWHTXHODSHQWH
QDWXUHOOH
/HUHPSOLVVDJHGXOLWSDUOHVVpGLPHQWVVHWUDGXLWSDUXQHUpGXFWLRQGHODFDSDFLWpGXOLWHW
SHXW FRQGXLUH j XQH DXJPHQWDWLRQ GH OD IUpTXHQFH GHV GpERUGHPHQWV HQ DPRQW GH
O·RXYUDJH
3URJUDPPH3OXULDQQXHOGH*HVWLRQGHVPLOLHX[DTXDWLTXHV
'RVVLHUGH'pFODUDWLRQG·,QWpUrW*pQpUDO
(QDYDOOHGpILFLWGHWUDQVSRUWVROLGHHQJHQGUHXQHUHSULVHG·pURVLRQSRXYDQWFRQGXLUHj
ODGLVSDULWLRQGHVVXEVWUDWVOHVSOXVILQV VDEOHVHWJUDYLHUVQRWDPPHQW HWjO·LQFLVLRQGXOLW
/H GpILFLW GH WUDQVSRUW VROLGH PRGLILH OHV pTXLOLEUHV PRUSKRG\QDPLTXHV HW FRQGXLW j XQ
LPSDFWpFRORJLTXHDYHFGHVPRGLILFDWLRQVGHVSHXSOHPHQWVDTXDWLTXHVPDLVpJDOHPHQW
WHUUHVWUHV
&203$7,%,/,7e'8352-(7$9(&/(6'$*($'285*$5211(
/H6'$*($GRXU*DURQQH
/H 6FKpPD 'LUHFWHXU G·$PpQDJHPHQW HW GH *HVWLRQ GHV (DX[ 6'$*( GX
EDVVLQ $GRXU*DURQQH D pWp DGRSWp OH QRYHPEUH SDU OH FRPLWp GH EDVVLQ HW
DSSURXYpSDUDUUrWpSUpIHFWRUDOGXHUGpFHPEUH
/HVRULHQWDWLRQVGHODGLUHFWLYHFDGUHVXUO·HDX '&( GXRFWREUHODORLVXUO·HDXHW
OHV PLOLHX[ DTXDWLTXHV GX GpFHPEUH HW OHV FRQFOXVLRQV GHV *UHQHOOH GH
O·HQYLURQQHPHQW HW GH OD PHU RQW FRQGXLW j UpYLVHU OD SROLWLTXH GH O·HDX VXU OH EDVVLQ
$GRXU*DURQQHSRXUODSpULRGH
/H6'$*(GpILQLHVL[RULHQWDWLRQVPDMHXUHVSRXUDWWHLQGUHG·LFLOHERQpWDWGHVFRXUV
G·HDX
$ FUpHUOHVFRQGLWLRQVIDYRUDEOHVjXQHERQQHJRXYHUQDQFH
% UpGXLUHO·LPSDFWGHVDFWLYLWpVVXUOHVPLOLHX[DTXDWLTXHV
& JpUHU GXUDEOHPHQW OHV HDX[ VRXWHUUDLQHV SUpVHUYHU HW UHVWDXUHU OHV IRQFWLRQQDOLWpV
GHVPLOLHX[DTXDWLTXHVHWKXPLGHV
' DVVXUHU XQH HDX GH TXDOLWp SRXU GHV DFWLYLWpV HW XVDJHV UHVSHFWXHX[ GHV PLOLHX[
DTXDWLTXHV
( PDvWULVHU OD JHVWLRQ TXDQWLWDWLYH GH O·HDX GDQV OD SHUVSHFWLYH GX FKDQJHPHQW
FOLPDWLTXH
) SULYLOpJLHUXQHDSSURFKHWHUULWRULDOHHWSODFHUO·HDXDXF±XUGHO·DPpQDJHPHQWGX
WHUULWRLUH
&·HVW XQ GRFXPHQW SXEOLF DYHF OHTXHO GRLYHQW rWUH FRPSDWLEOHV OHV SURJUDPPHV HW
GpFLVLRQVDGPLQLVWUDWLYHVGDQVOHGRPDLQHGHO·HDX
3URJUDPPH3OXULDQQXHOGH*HVWLRQGHVPLOLHX[DTXDWLTXHV
'RVVLHUGH'pFODUDWLRQG·,QWpUrW*pQpUDO
&RQIRUPLWpYLVjYLVGHVREMHFWLIVGX6'$*(
/HV DFWLRQV SUpYXHV GDQV OH SURJUDPPH GH WUDYDX[ SHUPHWWHQW GH UpSRQGUH DX[
RULHQWDWLRQVGX6'$*( GDQVOHGRPDLQHGHFRPSpWHQFHVGH7XOOHDJJOR
/HWDEOHDXFLGHVVRXVV\QWKpWLVHOHVRULHQWDWLRQVGX6'$*(HWODFRQIRUPLWpGXSURMHW
&RQIRUPLWp
GXSURMHW
2ULHQWDWLRQVGX6'$*( 33*GH7XOOHDJJOR
SDUUDSSRUW
DX[
RULHQWDWLRQV
2ULHQWDWLRQ%
&LUFRQVFULUH OHV GHUQLHUV IR\HUV PDMHXUV 1RQ /H SURJUDPPH SUpVHQWp GDQV FH
GH SROOXWLRQV LQGXVWULHOOHV HW UpGXLUH RX FRQFHUQp GRFXPHQW QH SHUPHW SDV GH UpSRQGUH
VXSSULPHU OHV UHMHWV GH VXEVWDQFHV jFHWWHRULHQWDWLRQ
GDQJHUHXVHVHWWR[LTXHV
5pGXLUH O·LPSDFW GHV DFWLYLWpV VXU OD 1RQ /H SURJUDPPH SUpVHQWp GDQV FH
PRUSKRORJLH HW OD G\QDPLTXH QDWXUHOOH FRQFHUQp GRFXPHQW QH SHUPHW SDV GH UpSRQGUH
GHVPLOLHX[ jFHWWHRULHQWDWLRQ
2ULHQWDWLRQ&
*pUHU HQWUHWHQLU HW UHVWDXUHU OHV FRXUV RXL /HV WUDYDX[ VXU OD ULSLV\OYH HW OD
G·HDX UHFRQQH[LRQ GHV DQQH[HV IOXYLDOHV
SHUPHWWHQW GH UpSRQGUH j FHWWH
RULHQWDWLRQ
3UpVHUYHU UHVWDXUHU HW JpUHU OHV PLOLHX[ RXL /·HQVHPEOH GHV DFWLRQV GH FH
DTXDWLTXHV j IRUWV HQMHX[ SURJUDPPH SHUPHWWHQW GH UpSRQGUH j
HQYLURQQHPHQWDX[ FHWWHRULHQWDWLRQ
3URJUDPPH3OXULDQQXHOGH*HVWLRQGHVPLOLHX[DTXDWLTXHV
'RVVLHUGH'pFODUDWLRQG·,QWpUrW*pQpUDO
3UpVHUYHU UHVWDXUHU OD FRQWLQXLWp RXL /HV RSpUDWLRQV GH UHVWDXUDWLRQ GH OD
pFRORJLTXH FRQWLQXLWp pFRORJLTXH SDU
O·DPpQDJHPHQW RX OD VXSSUHVVLRQ
G·REVWDFOH j O·pFRXOHPHQW SHUPHWWHQW
GHUpSRQGUHjFHWWHRULHQWDWLRQ
2ULHQWDWLRQ'
'HV HDX[ EUXWHV FRQIRUPHV SRXU OD 1RQ /H SURJUDPPH SUpVHQWp GDQV FH
SURGXFWLRQG·HDXSRWDEOH FRQFHUQp GRFXPHQW QH SHUPHW SDV GH UpSRQGUH
jFHWWHRULHQWDWLRQ
8QH TXDOLWp GHV HDX[ GH EDLJQDGH HQ RXL /HV DFWLRQV GH PLVH HQ SODFH GH
HDXGRXFHHWOLWWRUDOHFRQIRUPH FO{WXUHV HW G·DPpQDJHPHQW
G·DEUHXYRLU HQ DPRQW GHV ]RQHV GH
EDLJQDGHV SHUPHWWHQW GH UpSRQGUH j
FHWWHRULHQWDWLRQ
35(6&5,37,216(70(685(6&203(16$72,5(6$8;75$9$8;
3UHVFULSWLRQJpQpUDOH
&RPPXQLFDWLRQDYDQWWUDYDX[
/HV SURSULpWDLUHV ULYHUDLQV FRQFHUQpV VHURQW DYHUWLV GHV WUDYDX[ SDU OD FRPPXQDXWp
G·DJJORPpUDWLRQ7XOOHDJJORVRXVIRUPHGHUpXQLRQRXSDUFRXUULHUSHUVRQQDOLVpVXUOHTXHO
VHURQWPHQWLRQQpHV
- ODORFDOLVDWLRQGHVWUDYDX[
- OHVRSpUDWLRQVjHIIHFWXHU
- OHVGDWHVG·LQWHUYHQWLRQ
- ODSURFpGXUHVRPPDLUH
/H SXEOLF VHUD LQIRUPp VXU OH FRQWHQX OHV REMHFWLIV HW OD QDWXUH GHV WUDYDX[ SDU YRLH GH
SUHVVH HW G·DIILFKDJH HQ PDLULH 'HV SDQQHDX[ GH VLJQDOLVDWLRQ LQIRUPHURQW OH SXEOLF
SHQGDQW OD GXUpH GHV WUDYDX[ VXU OHV FKDQWLHUV RX HQ GHV OLHX[ VWUDWpJLTXHV SRXU XQ
HQVHPEOHFRRUGRQQpG·RSpUDWLRQVVXUXQPrPHVHFWHXU
,QIRUPDWLRQGHVVHUYLFHVGHSROLFHV
/HVHUYLFHGHSROLFHGHO·HDXDLQVLTXHODEULJDGHGpSDUWHPHQWDOHGHO 2IILFH1DWLRQDOGH
O (DXHWGHV0LOLHX[$TXDWLTXHVVRQWSUpYHQXVTXLQ]HMRXUVjO DYDQFHGXFRPPHQFHPHQW
GHV WUDYDX[ HW VRQW LQIRUPpV LPPpGLDWHPHQW HQ FDV G LQFLGHQW PHWWDQW HQ FDXVH OD
SURWHFWLRQGXPLOLHXDTXDWLTXH
3UpYHQWLRQGHVSROOXWLRQV
7RXWpFRXOHPHQWGHVXEVWDQFHQXLVLEOHDXPLOLHXDTXDWLTXHHVWHPSrFKpSDUGHVPR\HQV
DSSURSULpV /HV V\VWqPHV K\GUDXOLTXHV HW OHV UpVHUYRLUV GH FDUEXUDQW GHV HQJLQV VRQW
FRQWU{OpVHWYpULILpVDILQG·pFDUWHUWRXWULVTXHGHSROOXWLRQSDUOHVK\GURFDUEXUHV
(Q FDV GH SDUFDJH HW G HQWUHWLHQ VXU SODFH GHV HQJLQV GH FKDQWLHU OHV HDX[ GH
UXLVVHOOHPHQW GH O·DLUH GH SDUFDJH DLQVL TXH FHOOHV GH QHWWR\DJH VRQW GLULJpHV YHUV XQ
EDVVLQGHUpWHQWLRQpTXLSpG·XQGLVSRVLWLIGHEORFDJHGHVHDX[SROOXpHV
3URJUDPPH3OXULDQQXHOGH*HVWLRQGHVPLOLHX[DTXDWLTXHV
'RVVLHUGH'pFODUDWLRQG·,QWpUrW*pQpUDO
3rFKHGHVDXYHJDUGHGHODIDXQHSLVFLFROH
&HUWDLQHV LQWHUYHQWLRQV SHXYHQW QpFHVVLWHU ORFDOHPHQW HW WHPSRUDLUHPHQW OD PLVH HQ
DVVHF GX FRXUV G·HDX SDU OD PLVH HQ SODFH GH EDWDUGHDX[ 'DQV FH FDV OH PDvWUH
G·RXYUDJH GHYUD SUHQGUH FRQWDFW DYHF OD )pGpUDWLRQ GH 3rFKH HW O·21(0$ DILQ GH
GpILQLUHQFDVGHEHVRLQOHVPRGDOLWpVG·XQHSrFKHGHVDXYHJDUGHGHODIDXQHSLVFLFROH
3pULRGHGHWUDYDX[
3RXUOLPLWHUO·LPSDFWGHVWUDYDX[VXUODIDXQHWHUUHVWUHHWDTXDWLTXHOHVWUDYDX[GDQVOHOLW
PLQHXUVHURQWUpDOLVpVDXPD[LPXPHQGHKRUVGHVSpULRGHVGHQLGLILFDWLRQHWGHIUDLHGHV
SRLVVRQV/DSpULRGHG·pWLDJHVHPEOHODSOXVDSSURSULpH GXMXLOOHWDXRFWREUH
(QWUHOHPRLVGHQRYHPEUHHWMXVTX·DXPRLVGHPDL VLGHVLQWHUYHQWLRQVVRQWGpFDOpHV LO
HVWSUpIpUDEOHGHQHSDVSpQpWUHUGDQVOHVVHFWHXUVUHFHQVpVFRPPHGHVIUD\qUHVRXHQ
SUpVHQWDQW WRXWHV OHV FDUDFWpULVWLTXHV 6HXOHV OHV LQWHUYHQWLRQV G·XUJHQFH SRXU OD
SUpVHUYDWLRQGHELHQVHWGHSHUVRQQHVSHXYHQWGpURJHUjFHWWHUqJOH
/HV LQWHUYHQWLRQV GHSXLV OHV EHUJHV FRQFHUQDQW OD YpJpWDWLRQ VHURQW UpDOLVpHV GXUDQW OH
UHSRVYpJpWDWLIVRLWGHQRYHPEUHjDYULODYHFODSRVVLELOLWpGHGpERUGHPHQWHQRFWREUH
HWHQPDL
/HVLQWHUYHQWLRQVVXUOHVSDUFHOOHVFXOWLYpHVVHIHURQWVDQVSUpMXGLFHVSRXUOHVH[SORLWDQWVHQ
SULYLOpJLDQW OD FLUFXODWLRQ GHV HQJLQV VXU OD SpULSKpULH GH OD SDUFHOOH 8Q FRQWDFW HW XQ
DFFRUGSUpDODEOHVHURQWFRQYHQXVDYHFOHVSURSULpWDLUHVHWH[SORLWDQWVULYHUDLQV
3RXU GH UDLVRQV GH VpFXULWp OHV SpULRGHV GH FUXHV HW GH GpERUGHPHQW GHV FRXUV G·HDX
VRQWjSURVFULUH
/HVDFFqV
/·DFFqVDX[VLWHVGHWUDYDX[VHIHUDDXPD[LPXPVXUOHVFKHPLQVHWYRLHVH[LVWDQWVVXLYDQW
RX GRQQDQW VXU OHV FRXUV G·HDX VDQV FUpHU GH QRXYHDX[ SDVVDJHV /D PXOWLSOLFDWLRQ GHV
]RQHVG·DFFqVVHUDpYLWpHSRXUOLPLWHUOHVGpWpULRUDWLRQVpYHQWXHOOHV
/HFDVpFKpDQWGHQRXYHDX[DFFqVDXFRXUVG HDXSRXUURQWrWUHDPpQDJpVDYHFOHSOXV
JUDQGVRLQHWGDQVFHGHUQLHUFDVDSUqVDYRLUSULVFRQWDFWDYHFOHVSURSULpWDLUHVULYHUDLQV
FRQFHUQpV
/HVDFFqVGHYURQWrWUHPDWpULDOLVpVHWELHQGpOLPLWpV/HVWUDYDX[jSUR[LPLWpGHYRLHVGH
FLUFXODWLRQ SXEOLTXH VHURQW VLJQDOpV FRUUHFWHPHQW DILQ G pYLWHU GHV DFFLGHQWV DYHF GHV
WLHUV
5HPLVHHQpWDW
$SUqVOHVWUDYDX[O·HQVHPEOHGHVDERUGVGXFKDQWLHUVHURQWQHWWR\pV,OVHUDSURFpGpjOD
UHPLVH HQ pWDW GHV HPSODFHPHQWV HW pTXLSHPHQWV XWLOLVpV DLQVL TX·DX[ RSpUDWLRQV GH
GpSRVHHWGHUHSRVHGHVFO{WXUHV
/DYRLULHHPSUXQWpHHWOHVSDUFHOOHVRFFXSpHVVHURQWUHPLVHQWHQpWDWjODILQGHVWUDYDX[
- QLYHOOHPHQW GHV RUQLqUHV FUppHV VXU OD SODWHIRUPH GH VWRFNDJH GHV HQJLQV HW OHV
FKHPLQVHQWHUUHHPSUXQWpV
- UHERXFKDJHGHVاQLGVGHSRXOHV بVDQVDSSRUWVGHPDWpULDX[H[WpULHXUV
- QHWWR\DJHGHODWHUUHHWVDOLVVXUHVODLVVpHVVXUODYRLHULHDXSDVVDJHGHVHQJLQV
3URJUDPPH3OXULDQQXHOGH*HVWLRQGHVPLOLHX[DTXDWLTXHV
'RVVLHUGH'pFODUDWLRQG·,QWpUrW*pQpUDO
0HVXUHVFRPSHQVDWRLUHVDX[WUDYDX[
0HVXUHVUHODWLYHVDX[DFWLRQVVXUOHVDQQH[HVK\GUDXOLTXHVHWOLWPDMHXU
5HVWDXUDWLRQ GHV FDSDFLWpV QDWXUHOOHV G·pFRXOHPHQW GHV DQQH[HV
K\GUDXOLTXHV
(QIRQFWLRQGHVVLWHVOHVWUDYDX[GHUHVWDXUDWLRQGHVDQQH[HVK\GUDXOLTXHVVHURQWVRXPLV
RX QRQ j GpFODUDWLRQ RX DXWRULVDWLRQ DX WLWUH GX &RGH GH O·(QYLURQQHPHQW 8QH QRWH
WHFKQLTXHHWGHVFULSWLYHVHUDWUDQVPLVHDYDQWWUDYDX[DXVHUYLFHGHODSROLFHGHO·HDX
'H PDQLqUH JpQpUDOH OHV FRQGLWLRQV G·DFFqV DX FKDQWLHU SDU OHV HQJLQV GHYURQW rWUH
QpJRFLpHVDXSUpDODEOHDYHFOHVULYHUDLQVDILQGHQHSDVGpJUDGHUOHVWHUUDLQV
/HV DFWLRQV VXU OD YpJpWDWLRQ ORUV GHV WUDYDX[ GH UpRXYHUWXUH GH EUDV VHFRQGDLUHV
UHTXLqUHQW OHV PrPHV SUHVFULSWLRQV TXH FHOOHV UHODWLYHV DX[ WUDYDX[ VXU OD ULSLV\OYH
SDUDJUDSKH
0HVXUHVUHODWLYHVDX[DFWLRQVVXUOHVEHUJHVHWODULSLV\OYH
7UDYDX[VXUODULSLV\OYH
/HV WUDYDX[ VXU OD ULSLV\OYH QH VRQW SDV VRXPLV DX[ SURFpGXUHV GH GpFODUDWLRQV HW
G·DXWRULVDWLRQ DX WLWUH GX &RGH GH O·(QYLURQQHPHQW ,OV QH QpFHVVLWHQW GRQF SDV GH
PHVXUHVFRPSHQVDWRLUHV
'HVSUHVFULSWLRQVVRQWWRXWHIRLVpQRQFpHV
- 3RXU OLPLWHU OHV GpWpULRUDWLRQV pYHQWXHOOHV OHV ]RQHV G·DFFqV VHURQW OLPLWpHV DX
PLQLPXP
- /HVWUDYDX[GRLYHQWV·LQVFULUHGDQVOHUHVSHFWGHODTXDOLWpGHVKDELWDWVGHVHVSqFHV
SURWpJpHVSUpVHQWHV
• OHVWUDYDX[QHGHYURQWLQGXLUHGHGpJUDGDWLRQGXOLWPLQHXUHWGHVEHUJHV
• OHV HQFRPEUHV QH VHURQW SDV UHWLUpV V\VWpPDWLTXHPHQW /HV SDUWLHV DQFUpHV
RX LPPHUJpHV GHYURQW rWUH FRQVHUYpHV SRXU SUpVHUYHU OD GLYHUVLWp GHV
KDELWDWV
• OHVVHFWHXUVIHUPpVSDUXQHYpJpWDWLRQWURSGHQVHGHYURQWrWUHRXYHUWVVHORQ
GHVWHFKQLTXHVOpJqUHVSRXUSHUPHWWUHO·pFODLUHPHQWGXOLW
• OHVSpULRGHVGHQLGLILFDWLRQGHO·DYLIDXQHVHURQWSULVHVHQFRQVLGpUDWLRQ
• OHVSURGXLWVGHFRXSH UpPDQHQWV GHYURQWVRLWrWUHpYDFXpVYHUVXQFHQWUH
GHGpFKHWVYHUWVVRLWrWUHEUR\pVVRLWrWUHPLVHQGpS{WGDQVXQH]RQHKRUV
G·HDX GDQV OH UHVSHFW GH OD OpJLVODWLRQ VXU OH WUDLWHPHQW GHV GpFKHWV (Q
GHUQLHU UHFRXUV LOV SRXUURQW rWUH EUOpV HQ UHVSHFWDQW OHV SpULRGHV GH
EUODJH
- /HVSURGXLWVGHFRXSHYDORULVDEOHVVHURQWHQWUHSRVpVVXUOHVWHUUDLQVERUGDQWODULYH
UHVWDXUpH j XQH GLVWDQFH OHV PHWWDQW KRUV G·DWWHLQWH GHV FUXHV DQQXHOOHV
([FHSWLRQQHOOHPHQW HQ FDV G·LQDFFHVVLELOLWp j OD SDUFHOOH LOV SRXUURQW rWUH
HQWUHSRVpVVXUXQHDXWUHSDUFHOOHOLPLWURSKHDYHFDFFRUGGXSURSULpWDLUH
3URJUDPPH3OXULDQQXHOGH*HVWLRQGHVPLOLHX[DTXDWLTXHV
'RVVLHUGH'pFODUDWLRQG·,QWpUrW*pQpUDO
/XWWHFRQWUHODGpVWDELOLVDWLRQGHVEHUJHVHWGXVXEVWUDWSDUOHERYLQV
&HV DFWLRQV QH VRQW pJDOHPHQW SDV VRXPLVHV DX[ SURFpGXUHV GH GpFODUDWLRQ RX
G·DXWRULVDWLRQDXWLWUHGX&RGHGHO·(QYLURQQHPHQWHWQHQpFHVVLWHGRQFSDVGHPHVXUHV
FRPSHQVDWRLUHV
'HVSUHVFULSWLRQVVRQWWRXWHIRLVpQRQFpHV
- $ILQG·pYLWHUOHVGpSDUWVGHPDWLqUHVHQVXVSHQVLRQGDQVOHFRXUVG·HDXGHVERWWHV
GHSDLOOHVGHYURQWrWUHLQVWDOOpHVDILQGHUHWHQLUOHVPDWLqUHVHQVXVSHQVLRQDXWRXUGH
OD]RQHGHFKDQWLHU
- /HV FRQGLWLRQV G·DFFqV DX FKDQWLHU SDU OHV HQJLQV GHYURQW rWUH QpJRFLpHV DX
SUpDODEOH DYHF OHV ULYHUDLQV DILQ GH QH SDV GpJUDGHU OHV WHUUDLQV /HV WUDYDX[
GHYURQW rWUH UpDOLVpV DSUqV XQH SpULRGH VqFKH G·DX PRLQV MRXUV SRXU pYLWHU OHV
GpJUDGDWLRQVGHVWHUUDLQVSDUOHVHQJLQV
- &HV WUDYDX[ GHYURQW rWUH UpDOLVpVHQWUH OH MXLQHW OH RFWREUHVRXV UpVHUYH GH
FRQGLWLRQVFOLPDWLTXHVIDYRUDEOHV
&DVGHODUpDOLVDWLRQGHSDVVDJHVjJXpV
/HV JXpV VHURQW DPpQDJpV VXU OHV WUDYHUVpHV GH EHUJHV SDU OHV HQJLQV RX OHV ERYLQV GpMj
H[LVWDQWHV
/·XWLOLVDWLRQ GH EpWRQ HVW SURVFULWH SRXU FHV DPpQDJHPHQWV /H JXp VHUD FUpp SDU
O·HPSLHUUHPHQW GX OLW HW GHV EHUJHV GX FRXUV G·HDX VDQV SURYRTXHU GH GpQLYHOp HQWUH
O·DPRQWHWO·DYDOVXSpULHXUjFP/DODUJHXUPD[LPDOHG·HPSULVHGHO·HPSLHUUHPHQWVXU
ODEHUJHVHUDLQIpULHXUHjPqWUHV
$XFXQHFO{WXUHIL[HHQWUDYHUVGXFRXUVG·HDXQHGHYUDrWUHDPpQDJpH6LQpFHVVDLUHOH
WUDQVIHUWGHVERYLQVjWUDYHUVOHFRXUVG·HDXVHUDSHUPLVDXPR\HQGHFO{WXUHVDPRYLEOHV
&DVGHO·LPSODQWDWLRQGHSDVVHUHOOHV
/·LPSODQWDWLRQG·XQHSDVVHUHOOHQHGRLWSDVHQJHQGUHUGHPRGLILFDWLRQGXSURILOHQWUDYHUV
GHVFRXUVG·HDXH[FpGHQWPqWUHVGHODUJH
/·XWLOLVDWLRQ GH EORFV SRXU VWDELOLVHU OHV EHUJHV QH GHYUD SDV H[FpGHU PqWUHV GH
ORQJXHXU
/H GLVSRVLWLI GHYUD rWUH GLPHQVLRQQp SRXU QH SDV FRQVWLWXHU XQ REVWDFOH j O·pFRXOHPHQW
GHVFUXHVGHSOHLQERUG
0HVXUHVUHODWLYHVDX[DFWLRQVVXUOHOLWPLQHXU
(QOqYHPHQW VpOHFWLI HW VHFWRULVp GHV HQFRPEUHV HW VXSSUHVVLRQV GHV
HQFRPEUHV SHUWXUEDQW O·pFRXOHPHQW DX GURLW GHV RXYUDJHV SXEOLFV RX OD
SpUHQQLWpGHVLQIUDVWUXFWXUHV
/HVLQWHUYHQWLRQV VXU OHV HQFRPEUHV QH VRQWSDVVRXPLVHV DX[ SURFpGXUHV GH GpFODUDWLRQ
RX G·DXWRULVDWLRQ DX WLWUH GX &RGH GH O·(QYLURQQHPHQW HW QH QpFHVVLWHQW GRQF SDV GH
PHVXUHVFRPSHQVDWRLUHV
3URJUDPPH3OXULDQQXHOGH*HVWLRQGHVPLOLHX[DTXDWLTXHV
'RVVLHUGH'pFODUDWLRQG·,QWpUrW*pQpUDO
5HVWDXUDWLRQ GH OD FRQWLQXLWp pFRORJLTXH SDU O·DPpQDJHPHQW RX OD
VXSSUHVVLRQG·REVWDFOHVjO·pFRXOHPHQW
6XSSUHVVLRQG·RXYUDJHGHWUDYHUVpHDJULFROH
/HV DFWLRQV GH VXSSUHVVLRQ GH SDVVHUHOOHV RX SDVVDJHV EXVpHV QH VRQW SDV VRXPLV DX[
SURFpGXUHV GH GpFODUDWLRQ RX G·DXWRULVDWLRQ DX WLWUH GX &RGH GH O·(QYLURQQHPHQW HW QH
QpFHVVLWHGRQFSDVGHPHVXUHVFRPSHQVDWRLUHV
$PpQDJHPHQWRXVXSSUHVVLRQGHVHXLOV
&HV WUDYDX[ VRQW VRXPLV j GpFODUDWLRQ RX DXWRULVDWLRQ DX WLWUH GX &RGH GH
O·(QYLURQQHPHQW8QGRVVLHUWHFKQLTXHHWGHVFULSWLIVHUDWUDQVPLVDYDQWWUDYDX[DXVHUYLFH
GHODSROLFHGHO·HDX
/HVWUDYDX[VLWXpVVXUGHVWHUUDLQVSXEOLFVRXjSUR[LPLWpGHVOLHX[IUpTXHQWpVSDUOHSXEOLF
GHYURQW GDQV OD PHVXUH GX SRVVLEOH rWUH VLJQDOpV SDU GHV SDQQHDX[ G·LQIRUPDWLRQ &HV
SDQQHDX[SRUWHURQWOHVLQIRUPDWLRQVVXLYDQWHV
- FKDQWLHULQWHUGLWG·DFFqVDXSXEOLF
- REMHFWLIHWQDWXUHGHVWUDYDX[
- QRPHWDGUHVVHGXPDvWUHG·RXYUDJH
- FRRUGRQQpHVGXVHUYLFHRXGHODSHUVRQQHUHVSRQVDEOHGXVXLYLGHVWUDYDX[
/HV ULYHUDLQV HW SURSULpWDLUHV FRQFHUQpV GHYURQW rWUH DYHUWLV GHV GDWHV GH WUDYDX[ 'HV
UpXQLRQV G·LQIRUPDWLRQV SRXUUDLHQW pJDOHPHQW rWUH RUJDQLVpHV SUpFLVDQW OHV REMHFWLIV
SRXUVXLYLVHWOHVSUHVFULSWLRQVjDSSOLTXHU
0R\HQVG·LQWHUYHQWLRQV
8Q DFFqV DX FKDQWLHU VHUD PDLQWHQX HQ SHUPDQHQFH SRXU OHV YpKLFXOHV GH VHFRXUV /HV
YpKLFXOHVHPSUXQWHURQWOHVYRLHVGHFLUFXODWLRQVSXEOLTXHVSXLVOHVFKHPLQVGHVSURSULpWpV
SULYpHVVXUOHVTXHOOHVOHVWUDYDX[VHURQWHIIHFWXpV
/HVHQWUHSULVHVHWOHSHUVRQQHOTXLRSqUHURQWVXUOHFKDQWLHUVHURQWpTXLSpVGHVPR\HQVGH
FRPPXQLFDWLRQQpFHVVDLUHVjODSUpYHQWLRQGHVVHFRXUV WpOpSKRQHSRUWDEOH ,OVGHYURQW
pJDOHPHQWrWUHpTXLSpVGHVPR\HQVGHVpFXULWpDGDSWpVHWSUpYXVSDUODOpJLVODWLRQSRXU
FHW\SHG·RSpUDWLRQ
$XWUHVPHVXUHV
7RXWHVOHVGLVSRVLWLRQVGHYURQWrWUHSULVHVSRXUOLPLWHUOHULVTXHG·DFFLGHQW
- GLVSRVLWLRQGHVHQJLQVHWGXPDWpULHOjGLVWDQFHGXERUG
- SDVGHUpVHUYRLUG·K\GURFDUEXUHVVXUOHVOLHX[GHVWUDYDX[
- GLVSRVLWLRQGHVPDWpULDX[HQGHKRUVGHV]RQHVLQRQGDEOHV
3URJUDPPH3OXULDQQXHOGH*HVWLRQGHVPLOLHX[DTXDWLTXHV
'RVVLHUGH'pFODUDWLRQG·,QWpUrW*pQpUDO