• Nie Znaleziono Wyników

Possibilities of Using Public Relations Instruments By a Public Organization on the Example of the Office of Town and Commune of Głuchołazy

N/A
N/A
Protected

Academic year: 2021

Share "Possibilities of Using Public Relations Instruments By a Public Organization on the Example of the Office of Town and Commune of Głuchołazy"

Copied!
33
0
0

Pełen tekst

(1)

vv

ACTIVITIES OF NATIONAL PARKS AS

A SOURCE OF REVENUE FOR THEIR

&20081(6&$6(678'<2)%$%,$*±5$

NATIONAL PARK

1

%HUQDGHWWD=DZLOLþVND Wojciech Strzelczyk** Abstract

The paper discusses the impact of Polish national parks on their respective FRPPXQHVqRZQUHYHQXH,WSUHVHQWVLPSRUWDQWFKDQJHVWKDWZHUHLQWURGXFHG LQLQWKHSDUNVqOHJDOVLWXDWLRQDQGILQDQFLQJ,WGLVFXVVHVILQDQFLDO UHODWLRQVEHWZHHQWKHSDUNVDQGFRPPXQHDGPLQLVWUDWLRQV ORFDOJRYHUQPHQW ERGLHV IRFXVLQJRQWKHLPSDFWRISDUNVRQWKHFRPPXQHVqRZQUHYHQXH7KH H[DPSOHRI%DELD*ÑUD1DWLRQDO3DUNLVXVHGWRSUHVHQWGHWDLOHGLVVXHV The impact of national parks on finances of local government bodies depends largely on legal regulations in force, including in particular regulations JRYHUQLQJ WKH SDUNVq OHJDO IRUP DQG IXQGLQJ DV ZHOO DV WKRVH FRQFHUQLQJ local taxes, tax exemptions and reductions, and compensations of lost revenue for the communes. Local circumstances also play a key role. These include: relative area of the park in a commune, use pattern of protected areas, location RIWKHSDUNqVKHDGRIILFHVL]HRIUHDOSURSHUWLHVDQGWKHW\SHDQGIRUPRIWKHLU XVHQXPEHURIVWDIILQWKHSDUNWKHSDUNqVDFWLYLWLHVDVZHOODVLWVVRFLDODQG economic environment.

Keywords: national park, local government, local taxes, own revenue. 1. Introduction

,Q 3RODQGqV ZHOO GHYHORSHG V\VWHP RI SURWHFWHG DUHDV QDWLRQDO SDUNV SOD\ DNH\UROH7KH\FRYHUDUHDVRIRXWVWDQGLQJQDWXUDOYDOXHUHSUHVHQWLQJDOORI 3RODQGqVODQGVFDSH]RQHV7KHWRWDODUHDRI3RODQGqVQDWLRQDOSDUNVLV KD RIWKHFRXQWU\qVDUHD RIZKLFKLVXQGHUVWULFWSURWHFWLRQ0RVW  7KHSDSHUKDVEHHQSUHSDUHGDVSDUWRIDSURMHFWIXQGHGE\WKH1DWLRQDO6FLHQFH&HQWUHXQGHU'HFLVLRQ1R'(& '+6 ,,,%86,1(66$1'121352),725*$1,=$7,216u*/2%$/$1'5(*,21$/$63(&76

 7KH SDSHU KDV EHHQ SUHSDUHG DV SDUW RI D SURMHFW IXQGHG E\ WKH 1DWLRQDO 6FLHQFH &HQWUH XQGHU 'HFLVLRQ 1R '(& '+6

0$3K'6WXGHQW'HSDUWPHQWRI5HJLRQDO(FRQRP\&UDFRZ8QLYHUVLW\RI(FRQRPLFVXO5DNRZLFND &UDFRZHPDLOVWU]HOF]\NZRMFLHFK#ZSSO

(2)

vv

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q ILQDQFLDO VWDQGLQJ 7KRVHUHODWLRQVDUHODUJHO\LQIOXHQFHGE\FXUUHQWFKDQJHVRIQDWLRQDOSDUNVq OHJDO VLWXDWLRQ DQG IXQGLQJ DV QDWLRQDO SDUNV KDYH EHHQ WUDQVIRUPHG LQWR 6WDWHRZQHG OHJDO SHUVRQV DQG DFTXLUHG IDUUHDFKLQJ DXWRQRP\ LQ WHUPV RI WKHLURUJDQLVDWLRQDQGIXQGLQJ

7KLVSDSHUDLPVDWLGHQWLI\LQJILQDQFLDOUHODWLRQVEHWZHHQQDWLRQDOSDUNV DQG WKHLU KRVWLQJ FRPPXQHV DQG SUHVHQWLQJ FKDQJHV LQ FRPPXQHVq RZQ UHYHQXH IURP ORFDO WD[HV DV D UHVXOW RI WUDQVIRUPDWLRQV RI QDWLRQDO SDUNVq RUJDQLVDWLRQDO DQG OHJDO IRUP LQ  7KH H[DPSOH RI %DELD *ÑUD 1DWLRQDO3DUNLVXVHGWRLOOXVWUDWHVSHFLILFLVVXHV

$VLWVNH\REMHFWLYHWKHSDSHUVHHNVWRYHULI\WKHIROORZLQJK\SRWKHVLV WKH FKDQJH RI 3ROLVK QDWLRQDO SDUNVq RUJDQLVDWLRQDO DQG OHJDO IRUP KDV QRW UHVXOWHGLQDQLQFUHDVHRIFRPPXQHVqEXGJHWDU\UHYHQXHUDLVHGLQORFDOWD[HV DQGLQFRPHWD[SDLGE\%DELD*ÑUD1DWLRQDO3DUNLQ ,QWKHUHVHDUFKZHDQDO\VHGWKHG\QDPLFVDQGVWUXFWXUHRIUHYHQXHIURP ORFDOWD[HVSDLGE\%DELD*ÑUD1DWLRQDO3DUNDVDSHUFHQWDJHRIWRWDOUHYHQXH IURPHDFKW\SHRIWD[LQWKHFRPPXQHVKRVWLQJWKH3DUN /HJDODQGRUJDQLVDWLRQDOEDVLVRIQDWLRQDOSDUNVqLQ3RODQG (DFKQDWLRQDOSDUNLQ3RODQGRSHUDWHVLQWKHSXEOLFVHFWRUDQGLWVRSHUDWLRQ LVJRYHUQHGE\OHJDOUHJXODWLRQV$FFRUGLQJWRWKH$FWRI$SULORQ 1DWXUH&RQVHUYDWLRQDQDWLRQDOSDUNFRYHUVDQDUHDRIQRWOHVVWKDQKD RISDUWLFXODUQDWXUDOVFLHQWLILFVRFLDOFXOWXUDODQGHGXFDWLRQDOYDOXHZKHUH WKH WRWDOLW\ RI QDWXUH DQG ODQGVFDSH DVVHWV LV SURWHFWHG 8VWDZDf D $UWLFOH (DFKRI3ROLVKQDWLRQDOSDUNVLVHVWDEOLVKHGDVD6WDWHRZQHGOHJDO

(3)

vv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fD$UWLFOHLQLWVZRUGLQJLQIRUFHXQWLO'HFHPEHU   VXSSRUWHG E\ WKHLU DVVRFLDWHG DX[LOLDU\ KROGLQJV ZKLFK FDUULHG RXW SDUWVRIWKHSDUNVqVWDWXWRU\DFWLYLWLHV $6WDWHEXGJHWHQWLW\LVDSXEOLFILQDQFHVHFWRUHQWLW\ZKLFKFRYHUVWKH HQWLUHW\RILWVH[SHQGLWXUHGLUHFWO\IURPWKH6WDWHEXGJHWDQGWUDQVIHUVLWVHQWLUH UHYHQXHWRWKH6WDWHEXGJHW7KLVLVNQRZQDVWKHrJURVVW\SHsVHWWOHPHQWRI DFFRXQWV %RURGRS ,QRUGHUIRUWKHQDWLRQDOSDUNVWRRSHUDWH OHJDOO\DQGHIILFLHQWO\EXWSXUHO\DVSXEOLFXWLOLW\HQWLWLHVUDWKHUWKDQFRPPHUFLDO EXVLQHVVHVSDUWRIWKHLUVWDWXWRU\DFWLYLWLHVKDGWREHRXWVRXUFHGWRVHSDUDWH HQWLWLHVZKLFKFRXOGIRULQVWDQFHFROOHFWHQWUDQFHIHHVVHOOOLFHQFHVWLPEHU HWF7KRVHHQWLWLHVEHFDPHNQRZQDVrDX[LOLDU\KROGLQJVs,QSULQFLSOHWKH\ FRYHUHGWKHLUH[SHQGLWXUHIURPWKHLURZQUHYHQXHDQGVHWWOHGWKHLUDFFRXQWV ZLWKWKH6WDWHEXGJHWDFFRUGLQJWRWKHrQHWW\SHsPHWKRG (WHO7\QLHZLFNL  S   6SHFLILFDOO\ WKH\ ZHUH UHTXLUHG WR WUDQVIHU RQHKDOI RI WKHLU SURILWVWRWKH6WDWHEXGJHW 8VWDZDf$UWLFOH 7KHXVHRIWKHRWKHU KDOIRIWKHSURILWZDVOHIWWRWKHGLVFUHWLRQRIWKHQDWLRQDOSDUNPDQDJHU

$X[LOLDU\KROGLQJVDVVRFLDWHGZLWK6WDWHEXGJHWHQWLWLHVZHUHGHVLJQHG WR RSHUDWH DV TXDVLEXVLQHVVHV FDUU\LQJ RXW WKRVH DFWLYLWLHV WKDW FRXOG EH RXWVRXUFHG ,Q SUDFWLFH WKH RXWVRXUFLQJ RI DFWLYLWLHV E\ QDWLRQDO SDUNV ZDV SXUHO\IRUPDOZKLFKZDVFULWLFLVHGE\WKH6XSUHPH$XGLW2IILFH %DEF]XN .UDZLHFS 

$X[LOLDU\ KROGLQJV RSHUDWHG XQWLO WKH HQG RI  7KURXJKRXW  QDWLRQDOSDUNVRSHUDWHGSXUHO\DV6WDWHEXGJHWHQWLWLHV7KH\KRZHYHUVWUXJJOHG LQRUJDQLVDWLRQDQGDGPLQLVWUDWLRQWHUPV)ROORZLQJWKHFORVXUHRIDX[LOLDU\ KROGLQJVQRHQWLW\ZDVPDGHUHVSRQVLEOHIRUFRQWLQXLQJWKHLUDFWLYLWLHV7KDW ZDV HVSHFLDOO\ UHOHYDQW DV WKH LQFRPH RI DX[LOLDU\ KROGLQJV KDG EHHQ KLJK HQRXJKWRODUJHO\FRYHUWKHFRVWVRIWKHSDUNVqFRQVHUYDWLRQHIIRUW

 $VRI-DQXDU\$UWLFOHDRIWKH1DWXUH&RQVHUYDWLRQ$FWHQWHUHGLQWRIRUFH$FFRUGLQJWRWKDW$UWLFOHHDFK QDWLRQDOSDUNLQ3RODQGLVD6WDWHRZQHGOHJDOSHUVRQ8QWLO'HFHPEHUQDWLRQDOSDUNVZHUHHVWDEOLVKHGE\YLUWXH RIDUHJXODWLRQRIWKH&RXQFLORI0LQLVWHUV

(4)

vv

$FFRUGLQJWRWKHODZWKHVFRSHRIRSHUDWLRQRI6WDWHEXGJHWHQWLWLHVLV UHVWULFWHGWRSXEOLFXWLOLW\DFWLYLWLHVZKHUHDVWKHDX[LOLDU\KROGLQJVKDGFDUULHG RXWWDVNVIDUEH\RQGWKDWVFRSH

 VDZ DQRWKHU FKDQJH LQ WKH QDWLRQDO SDUNVq OHJDO VLWXDWLRQ 8QGHU WKHQHZ$FWRI$XJXVWDPHQGLQJWKH1DWXUH&RQVHUYDWLRQ$FWDQG FHUWDLQ RWKHU DFWV 8VWDZDf   QDWLRQDO SDUNV ZHUH WUDQVIRUPHG IURP 6WDWH EXGJHW HQWLWLHV LQWR 6WDWHRZQHG OHJDO SHUVRQV DV GHILQHG LQ $UWLFOH   RIWKH3XEOLF)LQDQFH$FWRI$XJXVW 7KDWFKDQJHKDVDOORZHG WKHSDUNVWRFRQGXFWEXVLQHVVXQGHUWKH%XVLQHVV)UHHGRP$FWRI-XO\ 8VWDZDfE DQGWRIXQGWKHLUVWDWXWRU\DFWLYLW\DQGDGPLQLVWUDWLYHFRVWV IURPWKHLURZQIXQGVDQGWKHUHYHQXHWKH\UDLVH

)LQDQFLDO SODQQLQJ DUUDQJHPHQWV HYROYHG WR IROORZ WKH OHJDO DQG RUJDQLVDWLRQDOPRGLILFDWLRQV,QDVQDWLRQDOSDUNVVWLOORSHUDWHGDV6WDWH EXGJHW HQWLWLHV ZLWK DVVRFLDWHG DX[LOLDU\ KROGLQJV HDFK SDUN GUHZ XS WZR ILQDQFLQJSODQVRQHIRULWVHOIDQGWKHRWKHUIRULWVDX[LOLDU\KROGLQJ :DU\V]DN S ,QRQFHWKHDX[LOLDU\KROGLQJVFHDVHGWRH[LVWQDWLRQDO SDUNVVRXJKWDQHZSUHIHUDEOHVROXWLRQWRPDLQWDLQOLTXLGLW\(DFKRIWKHPVWLOO GUHZXSWZRILQDQFLDOSODQVIRULWVHOIDVD6WDWHEXGJHWHQWLW\RQHFRQFHUQHGWKH SDUNqVRZQEXGJHWDU\UHVRXUFHVDQGWKHRWKHUZDVPDGHWRPDQDJHWKHVSHFLDO SXUSRVHUHVHUYHSURYLGHGIURPWKH6WDWHEXGJHWWRFRYHUWKHH[SHQGLWXUHRQ DFWLYLWLHVWKDWKDGHDUOLHUEHHQSHUIRUPHGE\WKHDX[LOLDU\KROGLQJV,Q RQFHQDWLRQDOSDUNVZHUHWUDQVIRUPHGLQWR6WDWHRZQHGOHJDOSHUVRQVXQGHU WKH1DWXUH&RQVHUYDWLRQ$FWHDFKRIWKHPGUHZXSDVLQJOHILQDQFLQJSODQ

1DWLRQDO SDUNV IXQG WKHLU RSHUDWLRQ IURP 6WDWH EXGJHW VXEVLGLHV RZQ IXQGV UHYHQXHIURPWKHSDUNqVRZQDFWLYLWLHV DQGH[WHUQDOIXQGV6LJQLILFDQW UHYHQXHLVUDLVHGRQVDOHRIVHUYLFHVJRRGVDQGDVVHWVDQGOHDVHRISURSHUW\ 6RPH SDUNV UDLVH PXFK RI WKHLU UHYHQXH IURP HQWU\ IHHV OLFHQFHV JUDQWHG IHHVIRUHQWU\RIYHKLFOHVXVHGE\OHVVHHVRIWRXULVWIDFLOLWLHVIRUWKHLUEXVLQHVV DQGIHHVIRUFRPPHUFLDOXVHRIWKHSDUNqVKHOLFRSWHU7KHSDUNPDQDJHUPD\ DOVRLQWURGXFHRWKHUIHHVVXFKDVIRUFRPPHUFLDOXVHRIWKHSDUNqVJURXQGV HJIRUKRUVHGUDZQVOHGRUFDUULDJHULGHVIRUJXHVWV KRVWLQJVSRUWHYHQWV VKRRWLQJRIILOPVRQORFDWLRQLQWKHSDUNHWF2WKHUVRXUFHVRIRZQUHYHQXH LQFOXGHVDOHRISXEOLFDWLRQVIHHVIRUSKRWRJUDSK\DQGILOPLQJSHUPLWVDVZHOO DVSHUPLWVIRUFHUWDLQW\SHVRIDFWLYHWRXULVP URFNFOLPELQJELNHWRXULVP  IHHVIRUFDPSILUHVHGXFDWLRQVHUYLFHVSURFHHGV RUVKDUHLQSURFHHGV IURP FRLQRSHUDWHGVWDWLRQDU\ELQRFXODUVRUVQDFNPDFKLQHVUHQWDORIELF\FOHVRU KRUVHGUDZQ FDUULDJHV %HUEHND  S  %RäWURPLXN  S   $VLJQLILFDQWSDUWRIWKHSDUNVqRZQIXQGVLVUDLVHGIURPVDOHRIWLPEHUZKLFK FDQEHFRQVLGHUHGDW\SHRIVLGHDFWLYLW\3DUNVDOVRUHFHLYHUHQWIURPOHDVHRI SURSHUWLHV7KH\FDQDOVRREWDLQH[WHUQDOIXQGVVXFKDVIURPWKH1DWLRQDO)XQG IRU(QYLURQPHQWDO3URWHFWLRQDQG:DWHU0DQDJHPHQWWKH3URYLQFLDO)XQGIRU

(5)

vv

(QYLURQPHQWDO3URWHFWLRQDQG:DWHU0DQDJHPHQWDVZHOODVGRQDWLRQVIURP SULYDWH FRPPHUFLDO VSRQVRUV 8QWLO  IRU LQVWLWXWLRQDO UHDVRQV QDWLRQDO SDUNV KDG YHU\ OLPLWHG SRVVLELOLWLHV WR DSSO\ IRU (XURSHDQ 8QLRQ IXQGLQJ 7KRVH OLPLWDWLRQV ZHUH HDVHG WKDQNV WR WKH FKDQJH RI WKH SDUNVq OHJDO DQG RUJDQLVDWLRQDOIRUP

7KRVH FKDQJHV ZHUH PDGH WR LQWURGXFH D PRUH RUGHUO\ VWUXFWXUH RI QDWLRQDO DQG ORFDO JRYHUQPHQW HFRQRP\ LQFOXGLQJ E\ HOLPLQDWLQJ WKH GXDO W\SH RI WKH SDUNVq OHJDO RUJDQLVDWLRQ DQG LQFUHDVLQJ WUDQVSDUHQF\ RI WKHLU IXQGLQJ7KH\VKRXOGDOVRUHVXOWLQLPSURYHGHFRQRPLFVWDQGLQJRIWKHSDUNV GXHWRWKHLUEURDGHUILQDQFLDODXWRQRP\LQFOXGLQJPRUHRSSRUWXQLWLHVWRDSSO\ IRUH[WHUQDOIXQGLQJ7KDWVKRXOGVWLPXODWHWKHSDUNVqPDQDJHUVWRVHHNQHZ IXQGLQJVRXUFHVDQGWRXVHWKHLUIXQGVPRUHHIILFLHQWO\ ,QUHODWLRQVZLWKWKHLUKRVWLQJFRPPXQHVWKHSDUNVqFKDQJHGOHJDOVWDWXV DQGRUJDQLVDWLRQUHVXOWVLQWKHLUGLIIHUHQWVWDQGLQJWKDQEHIRUHLQWHUPVRIORFDO WD[HV7KDWKDVUHTXLUHGDQHZLQWHUSUHWDWLRQRIWD[UHJXODWLRQVLQFOXGLQJLQ UHODWLRQWRDQH[HPSWLRQIURPFRUSRUDWHLQFRPHWD[ &,7  DVKDUHRISURFHHGV IURP&,7JRHVWRWKHFRPPXQHV  1DWLRQDOSDUNVqLPSDFWRQWKHILQDQFLDOVWDQGLQJRIWKHLUKRVWLQJ FRPPXQHV

7KH VLJQLILFDQFH RI 3ROLVK QDWLRQDO SDUNV LQ ORFDO HFRQRP\ KDV QRW EHHQ VXEMHFWRILQGHSWKUHVHDUFKDQGVHHPVWREHXQGHUHVWLPDWHG2QHRIWKHVFDUFH VWXGLHV RQ WKDW VXEMHFW ZDV SURYLGHG E\ $ %RäWURPLXN ZKR SUHVHQWHG WKH HFRQRPLFFRQWH[WRI%LDäRZLHĔD1DWLRQDO3DUN %RäWURPLXN 7KHSDUNVq LQIOXHQFH LV XVXDOO\ SHUFHLYHG DV D UHVWULFWLRQ RQ WKH IUHHGRP RI HFRQRPLF XVH RI WKHLU UHVSHFWLYH DUHDV ZKLFK UHVXOWV LQ VRFLDO WHQVLRQV .UÑOLNRZVND   3HUFHLYHG EHQHILWV XVXDOO\ LQFOXGH SURPRWLRQ RI WKH UHJLRQ DPRQJ WRXULVWV =DZLOLþVND   ,Q IRUHLJQ OLWHUDWXUH HFRQRPLF VLJQLILFDQFH RI QDWLRQDOSDUNVLVRIWHQSUHVHQWHGEXWWKHLULPSDFWRQWKHLUORFDOVXUURXQGLQJLV XVXDOO\DQDO\VHGLQWHUPVRIYLVLWRUVqVSHQGLQJ VWXGLHVLQFOXGH+XKWDOD 6DD\PDQ6DD\PDQEconomic benefits offEconomic Impact

off 7RXULVWVqVSHQGLQJLVFHUWDLQO\RIFUXFLDOHFRQRPLFLPSRUWDQFH LQPDQ\3ROLVKQDWLRQDOSDUNVDVZHOOKRZHYHUPRVWRIWKDWVSHQGLQJLVQRW GLUHFWO\OLQNHGZLWKWKHSDUNVqRSHUDWLRQ

,Q3RODQGQDWLRQDOSDUNVLQFOXGHDUHDVRUSDUWVRIDUHDVRIFRPPXQHV LQ  SRZLDWV GLVWULFWV  LQ  YRLYRGHVKLSV SURYLQFHV  0RVW SDUNV FRYHU DUHDVRIVHYHUDOFRPPXQHVHDFK UDQJLQJIURPWZRFRPPXQHVIRU7XFKROD )RUHVW 13 WR DV PDQ\ DV  IRU %LHEU]D 13 ZKLFK LV 3RODQGqV ODUJHVW  &RPPXQHVKRVWLQJQDWLRQDOSDUNVDUHSUHGRPLQDQWO\UXUDORIWKHPDUH UXUDOW\SHFRPPXQHVDQGDUHFRPELQHGUXUDOXUEDQW\SH0RVWSDUNVDUH

(6)

vv

ORFDWHGIDUIURPPDMRUFLWLHV ZLWKWKHH[FHSWLRQRI2MFÑZ13.DPSLQRV13 DQG:LHONRSROVND13 DQGLQDUHDVRIUHODWLYHO\ORZSRSXODWLRQGHQVLW\ WKH DYHUDJHSRSXODWLRQGHQVLW\RIFRPPXQHVKRVWLQJQDWLRQDOSDUNVLVSHUVRQV SHUNP  =DZLOLþVND 

/RFDO WD[HV DUH D VRXUFH RI VLJQLILFDQW RZQ UHYHQXH IRU FRPPXQHV DOORZLQJ WKHP WR PDNH GHFLVLRQV LQGHSHQGHQWO\ ODUJHO\ PHHW WKH QHHGV RI ORFDOFRPPXQLW\DQGLPSURYHWKHVWDQGDUGRIWKHLUVHUYLFHV/RFDOWD[HVDUH VRXUFHRIEXGJHWUHYHQXHVIRUFRPPXQHVRQO\7KH\LQFOXGHUHDOSURSHUW\ WD[DJULFXOWXUDOWD[IRUHVWWD[WD[RQPHDQVRIWUDQVSRUWWD[RQLQKHULWDQFHV DQGGRQDWLRQVrWD[FKDUWHUsWD[RQFLYLOODZWUDQVDFWLRQVDQGORFDOUHVLGHQWV VHOIWD[DWLRQ /RFDO WD[HV WKDW DUH SDUWLFXODUO\ UHOHYDQW LQ WKH FRQWH[W RI QDWLRQDOSDUNVqRSHUDWLRQDUHIRUHVWWD[DJULFXOWXUDOWD[DQGUHDOSURSHUW\WD[ 2WKHUWD[HVDUHHLWKHULQFLGHQWDORUXQUHODWHGWRWKHQDWLRQDOSDUNVqRSHUDWLRQ 1DWLRQDOSDUNVDOVREHQHILWIURPWD[H[HPSWLRQVZKLFKGHFUHDVHWKHLUUHVSHFWLYH FRPPXQHVqUHYHQXH2ZQUHYHQXHRIFRPPXQHVUHODWHGWRQDWLRQDOSDUNVDOVR LQFOXGH D VKDUH LQ SURFHHGV IURP FRUSRUDWH LQFRPH WD[ WKDW WKH SDUNV KDYH EHHQVXEMHFWWRVLQFH

$QDWLRQDOSDUNLVXVXDOO\WKHPDMRUODQGXVHULQLWVKRVWLQJFRPPXQHV EHLQJHLWKHUWKHODUJHVWRURQHRIWKHODUJHVWODQGXVHUV,WWKHUHIRUHSURYLGHV

D VLJQLILFDQW VKDUH RI ORFDO WD[HV IRU LWV FRPPXQHV 7KH SD\PHQW RI UHDO SURSHUW\WD[DQGWKHVFRSHRIWD[DWLRQLVUHJXODWHGE\WKH/RFDO7D[HVDQG 'XWLHV$FW 8VWDZDf$UWLFOHVDQG 5HDOSURSHUW\WD[H[HPSWLRQV DUHSDUWLFXODUO\UHOHYDQWIRUQDWLRQDOSDUNV8QGHUWKHODZWKHIXOOH[HPSWLRQ FRYHUVODQGVXQGHUVWULFWSURWHFWLRQDFWLYHSURWHFWLRQRUODQGVFDSHSURWHFWLRQ DVZHOODVEXLOGLQJVDQGVWUXFWXUHVZLWKLQQDWLRQDOSDUNVSHUPDQHQWO\IL[HG WR WKH JURXQG WKDW GLUHFWO\ VHUYH QDWXUH FRQVHUYDWLRQ SXUSRVHV 8VWDZDf $UWLFOH ,QSUDFWLFHWD[UHWXUQVVXEPLWWHGE\QDWLRQDOSDUNVVSHFLI\ ODQGSORWVEXLOGLQJVDQGVWUXFWXUHVZKLFKVHUYHQDWXUHFRQVHUYDWLRQSXUSRVHV 7KHVHH[FOXGHLQSDUWLFXODUIDFLOLWLHVSXWXSIRUUHQW ,QWKHFRQWH[WRIUHDOSURSHUW\WD[REOLJDWLRQDX[LOLDU\KROGLQJVDVVRFLDWHG ZLWK6WDWHEXGJHWHQWLWLHVFRXOGEHRIUHOHYDQFHLQ$FFRUGLQJWR$UWLFOH RIWKH/RFDO7D[HVDQG'XWLHV$FWXQGHUWKHUXOHVGHVFULEHGDERYHDX[LOLDU\ KROGLQJVZHUHLQSULQFLSOHQRWVXEMHFWWRUHDOSURSHUW\WD[7KDWZDVEHFDXVH HDFKDX[LOLDU\KROGLQJDVDQHQWLW\ZLWKRXWOHJDOSHUVRQDOLW\UHSUHVHQWHGWKH 6WDWH7UHDVXU\RUDUHOHYDQWORFDOJRYHUQPHQWERG\DQGFRQFOXGHGDOOLWVFLYLO ODZWUDQVDFWLRQVRQWKHLUUHVSHFWLYHEHKDOI)RUWKDWUHDVRQDQ\UHDOSURSHUWLHV EXLOGLQJVRUVWUXFWXUHVZHUHQRWIRUPDOO\RZQHGE\WKHDX[LOLDU\KROGLQJEXW UHVSHFWLYHO\ E\ WKH 6WDWH 7UHDVXU\ RU WKH ORFDO JRYHUQPHQW ERG\ 8QGHU WKH UHJXODWLRQV LQ IRUFH XQWLO WKH HQG RI  DX[LOLDU\ KROGLQJV FRXOG EH

 ,QFRPPXQHVQDWLRQDOSDUNDUHDDFFRXQWVIRUPRUHWKDQRQHKDOIRIWKHFRPPXQHDUHD XSWRFRYHUHGE\ .DPSLQRV13LQ,]DEHOLQ&RPPXQH 

(7)

vv

UHTXLUHGWRSD\UHDOSURSHUW\WD[RQO\LIWKH\ZHUHOHJDOO\DSSRLQWHGSHUSHWXDO DGPLQLVWUDWRUVRISURSHUW\ 'ROLþVND3LHUZRäDS 

7KHIDFWWKDWQDWLRQDOSDUNVKDYHEHHQWUDQVIRUPHGLQWR6WDWHRZQHGOHJDO SHUVRQV DQG DOORZHG WR FRQGXFW EXVLQHVV KDV QRW LQ SUDFWLFH FKDQJHG WKHLU VLWXDWLRQDVUHJDUGVH[HPSWLRQIURPUHDOSURSHUW\WD[7KDWLVEHFDXVHDOOODQGV ORFDWHGRQSURWHFWHGDUHDVDVZHOODVDOOEXLOGLQJVDQGVWUXFWXUHVVHUYLQJQDWXUH FRQVHUYDWLRQSXUSRVHVZLWKLQQDWLRQDOSDUNVDQGQDWXUHUHVHUYHVDUHH[HPSW IURPUHDOSURSHUW\WD[LUUHVSHFWLYHRIWKHLURZQHUDQGWKHW\SHRIWKHRZQHUqV DFWLYLW\ 7KHVDLGH[HPSWLRQGHFUHDVHVWD[UHYHQXHRIFRPPXQHVKRVWLQJQDWLRQDO SDUNVWKHUHIRUHWKRVHFRPPXQHVLQGLUHFWO\DQGSDUWO\EHDUWKHFRVWVRIWKH SDUNVq RSHUDWLRQ :KHUH VXFK WD[ H[HPSWLRQV DQG UHGXFWLRQV KDYH EHHQ LQWURGXFHGWRPHHWREMHFWLYHVRIQDWLRQDOUHOHYDQFHWKH6WDWHLVOHJDOO\REOLJHG WRIXOO\FRPSHQVDWHWKHFRPPXQHVIRUWKHLUORVWUHYHQXH 2SLQLDf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ñG]HQLHf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

(8)

vv LQ3RODQG 2FKURQDĈURGRZLVND WKDWWD[LVVLJQLILFDQWLQWKHJHQHUDO VFDOHRI3ROLVKQDWLRQDOSDUNV3XUVXDQWWRWKH$FWWKHSD\DEOHWD[DPRXQWV DUHUHGXFHGE\IRUSURWHFWHGIRUHVWVDQGIRUHVWVZLWKLQQDWLRQDOSDUNVDQG QDWXUHUHVHUYHV)XUWKHUPRUHIRUHVWVRIDWUHHVWDQGDJHRIOHVVWKDQ\HDUV IRUHVWVLQFOXGHGLQGLYLGXDOO\LQWKHQDWLRQDOKHULWDJHUHJLVWHUDQGHFRORJLFDO DUHDVDUHH[HPSWIURPWKHWD[ 8VWDZDf$UWLFOH  1DWLRQDOSDUNVDUHDOVRUHTXLUHGWRSD\DJULFXOWXUDOWD[RQODQGVFODVVLILHGDV DJULFXOWXUDOODQGVLQWKHODQGDQGEXLOGLQJUHJLVWHU7KHWD[LVSDLGDFFRUGLQJWR UDWHVGHILQHGLQWKHODZ7KH$FWGRHVQRWSURYLGHIRUDQH[HPSWLRQVXEMHFWLYH IRUQDWLRQDOSDUNVDVZHOODVDQ\VSHFLDOH[HPSWLRQVLQTXHVWLRQGXHWRWKH XVH RI WKLV IRUP RI SURWHFWLRQ 8VWDZDf   +RZHYHU LQ WKH VFDOH RI QDWLRQDOSDUNVLQJHQHUDODJULFXOWXUDOWD[LVQRWVLJQLILFDQW7KLVLVEHFDXVH DJULFXOWXUDOODQGVDFFRXQWIRUVPDOOSHUFHQWDJH  RIQDWLRQDOSDUNVqWRWDO DUHD$OVRWKHUDWHRIDJULFXOWXUDOWD[SDLGE\QDWLRQDOSDUNVLVXVXDOO\ORZ DV D UHVXOW RI WKUHH IDFWRUV WKDW GHWHUPLQH WKH FDOFXODWLRQ RI UHIHUHQFH DUHD IRUWD[DWLRQ7KRVHIDFWRUVDUHFODVVLILFDWLRQRIWKHKRVWFRPPXQHWRDWD[ GLVWULFWGHWHUPLQDWLRQRIODQGTXDOLW\FODVVDQGGHWHUPLQDWLRQRIWKHW\SHRI DJULFXOWXUDOXVHRIWKHODQG

1DWLRQDO SDUNV DOVR WUDQVIHU SURFHHGV IURP ORFDO YLVLWRUVq WD[ RU KHDOWK UHVRUW YLVLWRUVq WD[ WR WKHLU UHVSHFWLYH FRPPXQHV 7KHVH WD[HV DUH FROOHFWHG IURPLQGLYLGXDOVZKRVSHQGPRUHWKDQKRXUVIRUWKHUDS\WRXULVPOHLVXUH RUHGXFDWLRQLQORFDOLWLHVZKLFK

v KDYHIDYRXUDEOHFOLPDWHRUODQGVFDSHFKDUDFWHULVWLFVDQGFRQGLWLRQV WKDW DOORZ WKHP WR UHFHLYH YLVLWRUV IRU WKH SXUSRVHV PHQWLRQHG DERYH

v DUH ORFDWHG LQ DUHDV OHJDOO\ UHFRJQLVHG DQG SURWHFWHG DV KHDOWK UHVRUWV 1DWLRQDOSDUNVDUHUHTXLUHGWRFKDUJHWKRVHWD[HVLIWKH\RZQWKHLURZQ DFFRPPRGDWLRQIDFLOLWLHVDQGSURYLGHDFFRPPRGDWLRQWRYLVLWRUV 8VWDZDf $UWLFOH  /RFDOJRYHUQPHQWEXGJHWVDOVRUHFHLYHDVKDUHRIFRUSRUDWHLQFRPHWD[ SDLGE\QDWLRQDOSDUNV,QDQGWKHVKDUHRIUHJLRQDODQGORFDO DGPLQLVWUDWLRQERGLHVRIDOOOHYHOVLQ&,7UHYHQXHZDVHDFK\HDUWKH FRPPXQHVUHFHLYHGRIWKHWRWDOSHU\HDU -DVWU]öEVNDS  /HJDODQGRUJDQLVDWLRQDOVWDWXVRIQDWLRQDOSDUNVLVKLJKO\UHOHYDQWIRUWKHLU &,7REOLJDWLRQV,QDQGQDWLRQDOSDUNVRSHUDWLQJDV6WDWHEXGJHW HQWLWLHVZHUHH[HPSWIURP&,7 8VWDZDf$UWLFOHVDQG ,Q DX[LOLDU\KROGLQJVZHUHUHTXLUHGWRSD\WKH&,76RPHRIWKRVHKROGLQJVHJ WKRVH DVVRFLDWHG ZLWK QDWLRQDO SDUNV FRXOG EHQHILW IURP DQ H[HPSWLRQ ODLG GRZQLQ$UWLFOH  RIWKH&,7DFWSURYLGHGWKDWWKH\XVHGWKHDPRXQWVDYHG WKDQNV WR WKH H[HPSWLRQ RQ LQFUHDVLQJ LWV ZRUNLQJ FDSLWDO RU ILQDQFLQJ WKH

(9)

vv LQYHVWPHQWVRIWKH6WDWHEXGJHWHQWLW\XSWRWKHYDOXHRIFDSLWDOLQYROYHGLQWKH KROGLQJ 0XVLDäS  )ROORZLQJQDWLRQDOSDUNVqWUDQVIRUPDWLRQLQWR6WDWHRZQHGOHJDOSHUVRQVLQ FRQWURYHUVLHVHPHUJHGFRQFHUQLQJWKHLQWHUSUHWDWLRQRI&,7UHJXODWLRQV 2Q0DUFKWKH+HDGRI7D[&KDPEHULQãÑGĒDFWLQJRQEHKDOIRI WKH0LQLVWHURI)LQDQFHDQGRQUHTXHVWRIDQDWLRQDOSDUNLVVXHGDQLQGLYLGXDO LQWHUSUHWDWLRQRIWKHDSSOLFDELOLW\RIWKHH[HPSWLRQODLGGRZQLQ$UWLFOH   RIWKH&,7$FWUHJXODWLQJHQYLURQPHQWSURWHFWLRQ LQLWVSDUWFRQFHUQLQJ WKHREMHFWLYHRIQDWLRQDOSDUNVqDFWLYLWLHV WRQDWLRQDOSDUNV$FFRUGLQJWRWKDW LQWHUSUHWDWLRQQDWLRQDOSDUNVZKLFKKDYHQDWXUHFRQVHUYDWLRQGHILQHGDVWKHLU PDLQREMHFWLYHLQWKHLUVWDWXWHVDUHH[HPSWIURP&,77KLVLVEHFDXVHQDWXUH FRQVHUYDWLRQLVXQGHUVWRRGDVDVXEW\SHRIHQYLURQPHQWSURWHFWLRQ+RZHYHU WKDW H[HPSWLRQ PD\ RQO\ EH XVHG LI WKH UHYHQXH RI WKH SDUNqV EXVLQHVV LV DOORFDWHGWREHVSHQWRQLWVVWDWXWRU\DFWLYLWLHV,WZDVDOVRHPSKDVLVHGWKDWWKH H[HPSWLRQGRHVQRWGHSHQGRQWKHW\SHRIUHYHQXH H[FHSWIRUWKHW\SHVOLVWHG LQ$UWLFOH D RIWKH&,7$FW EXWGHSHQGVVWULFWO\RQWKHSXUSRVHWKDWWKH UHYHQXHLVWREHXVHGIRU6WLOODPELJXLWLHVLQLQWHUSUHWLQJWKHVDLGSURYLVLRQV

KDGOHGVRPHRIWKHQDWLRQDOSDUNVWRSD\&,7LQ

&RUSRUDWH LQFRPH WD[ LV FDOFXODWHG RQ WKH LQFRPH LH WKH GLIIHUHQFH EHWZHHQWKHUHYHQXHUDLVHGE\WKHQDWLRQDOSDUN IRULQVWDQFHRQVDOHRIWLPEHU RUFROOHFWLRQRIYDULRXVIHHVPHQWLRQHGLQ6HFWLRQ DQGFRVWVLQKHUHQWWRWKH QDWLRQDOSDUNqVRSHUDWLRQ6XFKFRVWVDOVRLQFOXGHWKHSD\PHQWRIORFDOWD[HV E\WKHQDWLRQDOSDUNZKLFKGHFUHDVHWKHSDUNqVLQFRPHDQGFRQVHTXHQWO\WKH DPRXQWRI&,7WUDQVIHUUHGWRWKHFRPPXQHVDVWKHLUEXGJHWDU\UHYHQXH)RU FRPPXQHVWKHUHYHQXHWKDWWKH\DUHHQWLWOHGWRDVWKHLUVKDUHLQ&,7SDLGE\ QDWLRQDOSDUNVLVQHJOLJLEOHDVQDWLRQDOSDUNVZHUHH[HPSWHGIURP&,7LQ DQGDQGKDGDULJKWWREHH[HPSWLQDVPHQWLRQHGDERYH WKRXJK VRPHSDUNVVWLOOSDLGWKH&,7LQWKDW\HDUGXHWRDPELJXRXVOHJDOUHJXODWLRQV  $WSUHVHQWWKHDERYHPHQWLRQHGLQWHUSUHWDWLRQLVVXHGE\WKH+HDGRIWKH7D[ &KDPEHULQãÑGĒFOHDUO\GHILQHVWKHHQWLWOHPHQWWR&,7H[HPSWLRQ (DFKQDWLRQDOSDUNDVDEXVLQHVVRSHUDWRUFOHDUO\KDVDQLPSDFWRQWKH LQFRPHRIORFDOJRYHUQPHQWHQWLWLHVLQLWVDUHDDQGWKHORFDOHFRQRP\LQJHQHUDO 7KHPHUHIDFWRIHVWDEOLVKLQJDQDWLRQDOSDUNUHVXOWLQJLQUHVWULFWLRQVLQVSDWLDO PDQDJHPHQWDOVRKDVDVLJQLILFDQWLPSDFWIRUORFDOHFRQRP\DQGRIWHQUHVXOWV LQWKHSDUNEHLQJSHUFHLYHGE\ORFDOFRPPXQLWLHVDVDQREVWDFOHWRHFRQRPLF GHYHORSPHQW,WPLJKWVHHPHFRQRPLFDOO\PXFKPRUHSURILWDEOHLQWKHVKRUW WHUP ERWKIRUWKHORFDOFRPPXQLWLHVqEXGJHWVDQGEURDGO\IRUWKHHFRQRP\  LI WKH VDPH DUHD FRXOG VHUYH RWKHU SXUSRVHV 7KRVH UHODWLYH EHQHILWV ZRXOG KRZHYHUUHODWHWRWKHGLUHFWXVHYDOXHRIWKHDUHDDQGWKHUHYHQXHUHVXOWLQJ WKHUHIURP 7KH EDODQFH RI EHQHILWV DQG ORVVHV ZRXOG VKLIW XSRQ DVVXPLQJ

(10)

vv DORQJHUWLPHIUDPHDQGEURDGHUSHUVSHFWLYHWDNLQJLQWRDFFRXQWLQGLUHFWXVH YDOXHVRSWLRQYDOXHVDQGQRQXVHYDOXHVRIWKHSDUNV 3KLOLSV)DPLHOHF S:RĈS  %DELD*ÑUD1DWLRQDO3DUNDVSD\HURIORFDOWD[HVDQGLWVLPSDFWRQ EXGJHWUHYHQXHRIWKHKRVWLQJFRPPXQHV

%DELD *ÑUD 1DWLRQDO 3DUN %*13 %DELRJÑUVNL 3DUN 1DURGRZ\  LV RQH RI 3RODQGqVROGHVWQDWLRQDOSDUNV,WZDVHVWDEOLVKHGLQDQGFRYHUVWKH%DELD *ÑUDPDVVLIWKHKLJKHVWLQWKH2XWHU:HVWHUQ&DUSDWKLDQUDQJH FXOPLQDWLQJ DWPDERYHVHDOHYHO &XUUHQWO\DWKDLWLVRQHRI3RODQGqV VPDOOHVWQDWLRQDOSDUNV,QWHUPVRIDGPLQLVWUDWLRQGLYLVLRQV%*13LVORFDWHG LQ WKH VRXWKHUQ SDUW RI 0DäRSROVNLH 9RLYRGHVKLS FRYHULQJ SDUWV RI WKUHH FRPPXQHV =DZRMD  RI %*13qV DUHD DQG  RI WKH FRPPXQHqV DUHD /LSQLFD:LHOND DQGUHVSHFWLYHO\ DQG-DEäRQND  DQG  UHVSHFWLYHO\  FI 7DEOH  7KH 3DUN LV VXUURXQGHG E\ D EXIIHU SURWHFWLRQ ]RQH FRYHULQJ WKH DUHD RI  KD 1HDUO\ DOO RI %*13qV DUHD   LV XQGHU WKH 3DUNqV XVXIUXFW 0RVW RI WKH UHPDLQLQJ ODQG ZLWKLQ WKH 3DUNqVERXQGDULHVORFDWHGPDLQO\LQ=DZRMD&RPPXQHLVRZQHGE\ODQGDQG IRUHVWFRPPXQLWLHV

Table 1. %DELD*ÑUD1DWLRQDO3DUNqVODQGDUHDLQUHODWLRQWRLWVKRVWLQJFRPPXQHV

&RPPXQH

&RPPXQHDUHD

KD %*13DUHD KD Share of %*13DUHD

LQFRPPXQH area

6KDUHRI%*13 forest area in FRPPXQHqV total forest area total

of

which: total of which:

Forests Forests Arableland Other 

-DEäRQND         /LSQLFD :LHOND         =DZRMD      78   7RWDO         6RXUFHGDWDIURP&HQWUDO6WDWLVWLFDO2IILFHqV *86 /RFDO'DWD%DQNDQG%*13

)RUHVWV GRPLQDWH LQ %*13 FRYHULQJ  RI LWV DUHD 0RVW RI WKH UHPDLQLQJDUHDLVDURXQGWKH%DELD*ÑUDVXPPLWDERYHWKHXSSHUOLPLWVRI IRUHVWV'HVSLWHLWVVPDOOVL]HWKH3DUNLVPXFKYLVLWHGLQWKHQXPEHURI YLVLWRUVZDVDSSUR[LPDWHO\EDVHGRQWKHQXPEHUVRIHQWU\WLFNHWVVROG $QDOL]DG]LDäDOQRĈFLf  ,Q%*13qVUHYHQXHZDV3/1PLOOLRQRIZKLFKZDV DVXEVLG\IURPWKH6WDWHEXGJHWDQGZDVUDLVHGDVRZQUHYHQXH7KH UHPDLQGHUZDVREWDLQHGXQGHUSURMHFWIXQGHGE\WKH(XURSHDQ8QLRQDQGWKH 1DWLRQDO)XQGIRU(QYLURQPHQWDO3URWHFWLRQDQG:DWHU0DQDJHPHQW%*13

(11)

vv KDVUHODWLYHO\KLJKILQDQFLDODXWRQRP\FKLHIO\WKDQNVWRKLJKUHYHQXHRQVDOH RIWLPEHUZKLFKDFFRXQWHGIRURIRZQUHYHQXHLQ %*13qVH[SHQGLWXUHLQZDV3/1PLOOLRQ$URXQGRQHKDOIRI WKDWDPRXQW 3/1PLOOLRQ ZDVVSHQWRQVDODULHVDQGDGPLQLVWUDWLRQFRVWV $VLJQLILFDQWSRUWLRQRIWKH3DUNqVH[SHQVHVJRHVWRRSHUDWRUVORFDWHGZLWKLQ WKHKRVWLQJFRPPXQHVRUDVVDODULHVWRORFDOUHVLGHQWV$VDWD[SD\HU%*13 KDVGLUHFWLPSDFWRQWKHILQDQFLDOVLWXDWLRQRIORFDOJRYHUQPHQWHQWLWLHV'XH WRWKHODQGXVHVWUXFWXUHZLWKLQWKH3DUNWKHIRUHVWWD[LVWKHPRVWVLJQLILFDQW HOHPHQW)RUHVWVZLWKLQ%*13DFFRXQWIRUDVPXFKDVRIDOOIRUHVWVZLWKLQ =DZRMD&RPPXQHDQGZLWKLQ/LSQLFD:LHOND&RPPXQH FI7DEOH  3XUVXDQWWRWKH)RUHVW7D[$FWRIQDWLRQDOSDUNVSD\DUHGXFHGUDWHRI IRUHVWWD[HTXDOWRRQHKDOIRIWKHQRUPDOUDWH 8VWDZDf  'HVSLWHWKDWUHGXFWLRQSURFHHGVIURPIRUHVWWD[SDLGE\%*13DFFRXQWHG IRULQDQGDQGLQRI=DZRMD&RPPXQHqVWRWDO IRUHVWWD[UHYHQXH,Q/LSQLFD:LHOND&RPPXQHWKHFRUUHVSRQGLQJSHUFHQWDJH LQWKHVDPHSHULRGZDVEHWZHHQDQG FI7DEOHVDQG 7KHKLJK LQFUHDVH RI WKH WD[ DPRXQWV LQ WKRVH WKUHH \HDUV ZDV GXH WR DQ LQFUHDVH RI WKHWD[UDWH)URPWKHFRPPXQHVqSHUVSHFWLYHWKHSURWHFWLRQRIIRUHVWDUHDV XQGHUWKH1DWLRQDO3DUNDQGWKHUHVXOWLQJUHGXFHGWD[UDWHFDXVHVDVLJQLILFDQW ORVVRILQFRPHDQGLVDVRXUFHRIGHILFLW+RZHYHUWKHIRUHVWWD[LQFRPHIRU FRPPXQHVKRVWLQJ%*13ZRXOGSUREDEO\EHVLPLODUO\UHGXFHGHYHQLIWKH 3DUNGLGQRWH[LVWDVWKHIRUHVWDUHDVZRXOGPRVWSUREDEO\HQMR\DGLIIHUHQW W\SHRISURWHFWLRQWKHUHIRUHWKHUHGXFHGWD[UDWHZRXOGVWLOODSSO\WRWKHP

$V DJULFXOWXUDO ODQG FRYHUV D PLQRU SURSRUWLRQ RI %*13qV DUHD WKH DJULFXOWXUDOWD[SDLGE\WKH3DUN RQO\LQ=DZRMD&RPPXQH LVQHJOLJLEOHIRU WKHFRPPXQHq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

8QOLNH IRUHVW WD[ UHGXFWLRQ WKH H[HPSWLRQ RI QDWLRQDO SDUNV IURP UHDO SURSHUW\WD[GRHVQRWUHGXFHORFDOJRYHUQPHQWVqWD[UHYHQXHLQUHDOWHUPVDV WKHFRPPXQHVqORVWUHYHQXHLVUHLPEXUVHGLQIXOOXSRQUHTXHVWE\WKHFRPPXQH VXEPLWWHGWRWKHYRLYRGH XQGHU$UWLFOH  RI/RFDO7D[HVDQG'XWLHV$FW DQGWKH0LQLVWHURI)LQDQFH5HJXODWLRQRI0D\RQWKHUHLPEXUVHPHQW RIUHYHQXHORVWE\FRPPXQHVGXHWRH[HPSWLRQIURPUHDOSURSHUW\WD[JUDQWHG WR QDWLRQDO SDUNV QDWXUH UHVHUYHV DQG EXVLQHVVHV RSHUDWLQJ DV UHVHDUFK DQG

(12)

vv

GHYHORSPHQW FHQWUHV  =DZRMD &RPPXQH REWDLQHG VXFK UHLPEXUVHPHQW LQ ZKLOH/LSQLFD:LHOND&RPPXQHKDVQRWWKXVIDUUHTXHVWHGWKH UHLPEXUVHPHQW

Table 2./RFDOWD[HVGXHIURP%DELD*ÑUD1DWLRQDO3DUNLQ

7D[W\SH Year -DEäRQND

/LSQLFD

Wielka Zawoja 7RWDOWD[DPRXQW

3/1 )RUHVWWD[                $JULFXOWXUDOWD[                5HDOSURSHUW\WD[                ([HPSWLRQIURP UHDOSURSHUW\WD[                6RXUFHGDWDIURP%*13DQG/LSQLFD:LHONDDQG=DZRMD&RPPXQHDXWKRULWLHV Table 3.3URSRUWLRQRIORFDOWD[HVGXHIURP%DELD*ÑUD1DWLRQDO3DUNLQWKH WD[UHYHQXHRIFRPPXQHVLQ 7D[W\SH Year 7RWDOUHYHQXHRIFRPPXQHXQGHU JLYHQWD[ 3URSRUWLRQRIUHYHQXHXQGHU JLYHQWD[UDLVHGIURP%*13LQ WRWDOUHYHQXHXQGHUWKDWWD[ /LSQLFD Wielka Zawoja Total /:= /LSQLFDWielka Zawoja Total /:= 3/1 w % )RUHVWWD[                      $JULFXOWXUDO WD[               5HDO SURSHUW\ WD[                      )RUUHDOSURSHUW\WD[WKHSURSRUWLRQLQFOXGHVWKHDPRXQWSDLGE\%*13DQGWKHDPRXQWRIWKHWD[H[HPSWLRQ /:=uWKHVXPRIUHYHQXHUDLVHGXQGHUWKHJLYHQWD[LQWKHUHOHYDQWSHULRGLQWKHFRPPXQHV/LSQLFD :LHONDDQG=DZRMDDQGWKHSURSRUWLRQRIWKHFRPELQHGDPRXQWVSDLGLQWD[E\%*13LQWKHFRPPXQHV /LSQLFD:LHONDDQG=DZRMDLQWKHWRWDOEXGJHWUHYHQXHRIWKRVHFRPPXQHVXQGHUWKHJLYHQWD[ 6RXUFHGDWDIURP&HQWUDO6WDWLVWLFDO2IILFHqV *86 /RFDO'DWD%DQNDQG%*13

(13)

vv

,Q-DEäRQND&RPPXQHWKHRQO\WD[SDLGE\%*13LVWKHIRUHVWWD[EXW LWVVKDUHLQWKHFRPPXQHqVUHYHQXHLVFORVHWRQLOGXHWRVPDOODUHDVRI%*13 IRUHVWVLQWKHFRPPXQH)RUWKDWUHDVRQILJXUHVIRU-DEäRQND&RPPXQHKDYH EHHQRPLWWHGLQ7DEOH,QWKHRWKHUWZRFRPPXQHVWKHUHLVDYLVLEO\KLJK SURSRUWLRQ RI IRUHVW WD[ SDLG E\ %*13 LQ WKH WRWDO IRUHVW WD[ UHYHQXH 7KH 3DUNDOVREULQJVVLJQLILFDQWLQFRPHIRUWKHFRPPXQHVLQLWVFDSDFLW\DVUHDO SURSHUW\RZQHU 7DEOH 

5. Conclusion

1DWLRQDO SDUNV SOD\ DQ LPSRUWDQW UROH LQ WKH ORFDO HFRQRPLHV DQG ODUJHO\ DIIHFWWKHUHYHQXHOHYHORIWKHLUUHVSHFWLYHORFDOJRYHUQPHQWHQWLWLHV7KHVL]H DQGQDWXUHRIWKDWLPSDFWGHSHQGERWKRQORFDOFLUFXPVWDQFHVDQGWKHOHJDO UHJXODWLRQV LQ IRUFH /RFDO FLUFXPVWDQFHV LQFOXGH LQ SDUWLFXODU WKH UHODWLYH DUHD RI WKH QDWLRQDO SDUN ZLWKLQ LWV KRVWLQJ FRPPXQHV XVH VWUXFWXUH RI SURWHFWHGDUHDVDJHRIWUHHVWDQGVORFDWLRQRIWKHSDUNqVKHDGRIILFHWKHW\SHV RIUHDOSURSHUWLHVRZQHGE\WKHSDUNDVZHOODVWKHLUVL]HDQGXVHQXPEHURI VWDIILQWKHSDUNWKHW\SHVRILWVDFWLYLWLHVDVZHOODVWKHSDUNqVVRFLDODQG HFRQRPLFHQYLURQPHQW SRSXODWLRQSRWHQWLDOHFRQRPLFSRWHQWLDOIXQFWLRQDO VWUXFWXUH RI WKH FRPPXQHqV WHUULWRU\  /HJDO UHJXODWLRQV ZKLFK DUH UHOHYDQW IRUWKHSDUNVDUHLQSDUWLFXODUWKRVHJRYHUQLQJWKHLUOHJDOIRUPDQGIXQGLQJ DUUDQJHPHQWVDVZHOODVORFDOWD[HVWD[UHGXFWLRQVDQGH[HPSWLRQVDYDLODEOH DQGFRPSHQVDWLRQVRIIHUHGWRWKHFRPPXQHVIRUWKHLUORVWUHYHQXH ,QWHUPVRIQDWLRQDOSDUNVqLPSDFWRQWKHILQDQFLDOVWDQGLQJRIFRPPXQHV LWLVPRVWO\QHJDWLYHLQFRPPXQHVZKHUHWKHQDWLRQDOSDUNFRYHUVDVLJQLILFDQW SURSRUWLRQRIWKHFRPPXQHqVDUHDDQGLQFOXGHVPRVWO\IRUHVWVZLWKWUHHVWDQG ROGHUWKDQ\HDUV)RUWKRVHDUHDVWKHFRPPXQHVRQO\UHFHLYHRQHKDOIRI WKHIRUHVWWD[DPRXQWVWKDWWKH\ZRXOGEHHQWLWOHGWRLIWKHIRUHVWZDVRXWVLGH QDWLRQDO SDUN ERXQGDULHV SURYLGHG WKDW WKH IRUHVW ZDV XQGHU SURWHFWLRQ DV DQDWXUHUHVHUYHRUSURWHFWHGIRUHVWRUZDVQRWVXEMHFWWRWD[H[HPSWLRQIRU DQRWKHUUHDVRQ 

5HDO SURSHUW\ WD[ SD\DEOH E\ QDWLRQDO SDUNV DOVR GLUHFWO\ DIIHFWV WKH FRPPXQHVqILQDQFH1DWLRQDOSDUNVKDYHQXPHURXVEXLOGLQJVDQGVWUXFWXUHV LQWKHLUXVDJH*LYHQWKDWPRVWSDUNVDUHORFDWHGLQUXUDODUHDVRIWHQVSDUVHO\ SRSXODWHG DQG QRW LQWHQVLYHO\ GHYHORSHG WKH\ SUREDEO\ SURYLGH D ODUJH SURSRUWLRQ RI UHDO SURSHUW\ WD[ UHYHQXHV IRU WKHLU UHVSHFWLYH FRPPXQHV $OWKRXJKPRVWEXLOGLQJVDQGVWUXFWXUHVXVHGE\SDUNVGLUHFWO\VHUYHQDWXUH FRQVHUYDWLRQDQGDUHWKHUHIRUHH[HPSWIURPUHDOSURSHUW\WD[WKHFRPPXQHV PD\UHTXHVWUHLPEXUVHPHQWRIUHYHQXHWKXVORVWIURPWKHSURYLQFLDODXWKRULWLHV VRIRUPDOO\WKH\LQFXUQRORVVHV

(14)

vv

$QRWKHU WD[ RI GLUHFW UHOHYDQFH IRU FRPPXQHVq ILQDQFH LV DJULFXOWXUDO WD[KRZHYHUIHZSDUNVFRQWULEXWHVLJQLILFDQWDPRXQWVXQGHUWKDWWD[0RVW 3ROLVK QDWLRQDO SDUNV SUHGRPLQDQWO\ LQFOXGH IRUHVWV ZKHUHDV DUDEOH ODQGV PHDGRZVDQGSDVWXUHVRQO\DFFRXQWIRUDPLQRUSURSRUWLRQRIWKHLUWRWDODUHDV )XUWKHUPRUHWKHLUFODVVLILFDWLRQLQWRFDWHJRULHVDQGWD[GLVWULFWVRIWHQUHGXFHV WKHWD[FDOFXODWLRQEDVH 7KHFKDQJHVLQWURGXFHGLQQDWLRQDOSDUNVqOHJDOIRUPDQGRUJDQLVDWLRQLQ GLGQRWGLUHFWO\UHVXOWLQFKDQJHVWRWKHVL]HRIUHYHQXHUDLVHGE\ FRPPXQHVIURPORFDOWD[HV(DFKQDWLRQDOSDUNDVD6WDWHRZQHGOHJDOSHUVRQ LVREOLJHGWRSD\ORFDOWD[HVLQWKHVDPHDPRXQWVDVLILWZDVD6WDWHEXGJHW HQWLW\ 7KH VLWXDWLRQ LV GLIIHUHQW IRU FRPPXQHVq UHYHQXH XQGHU FRUSRUDWH LQFRPHWD[1DWLRQDOSDUNVDUHVXEMHFWWRFDOFXODWHWKHLUSD\DEOH&,7DV6WDWH RZQHGOHJDOSHUVRQVEXWGXHWRWKHLUVWDWXWRU\DFWLYLW\IDOOLQJZLWKLQWKHVFRSH RIHQYLURQPHQWSURWHFWLRQWKH\DUHHQWLWOHGWRH[HPSWLRQIURPWKDWWD[ $VIDUDV%DELD*ÑUD1DWLRQDO3DUNLVVSHFLILFDOO\FRQFHUQHGLWVRSHUDWLRQ PRVWO\EHQHILWV=DZRMD&RPPXQHKRVWLQJWKUHHTXDUWHUVRIWKH3DUNqVDUHD LWVKHDGRIILFHDQGPRVWRILWVEXLOGLQJVDQGVWUXFWXUHV%*13LVDVLJQLILFDQW WD[SD\HU IRU =DZRMD &RPPXQH ZKHUH PRVW RI WKH 3DUNqV VWDII UHVLGH DQG ZKHUHPRVWRIEXVLQHVVHVZLWKWKHVWURQJHVWFRPPHUFLDOOLQNVZLWKWKH3DUN KDYH WKHLU UHJLVWHUHG RIILFHV )LQDQFLDO UHODWLRQV RI %*13 ZLWK /LSQLFD :LHOND&RPPXQHDUHIDUOHVVVWURQJDVWKH3DUNKDVOHVVRILWVDUHDLQWKDW FRPPXQHWKH3DUNqVKHDGRIILFHLVORFDWHGDWDVLJQLILFDQWGLVWDQFHIURPWKH FRPPXQHqVERXQGDULHVDQGWKHUHDUHQRGLUHFWSXEOLFWUDQVSRUWOLQNVEHWZHHQ /LSQLFD:LHONDDQG=DZRMD2WKHUYLOODJHVRQWKHVRXWKHUQVLGHRI%DELD*ÑUD PDVVLI DOVR KDYH ZHDN WUDQVSRUW OLQNV ZLWK =DZRMD ZKLFK LV SUREDEO\ WKH IDFWRUEHKLQGWKH3DUNqVOLPLWHGVLJQLILFDQFHIRU-DEäRQND&RPPXQH'XHWR WKHQHJOLJLEOHSURSRUWLRQRI%*13DUHDLQWKHODWWHUFRPPXQHWKH3DUNqVUROH DVDWD[SD\HULQLWVUHYHQXHLVPDUJLQDO

$PRQJWD[HVSDLGE\%*13WKHIRUHVWWD[LVWKHPRVWUHOHYDQWIRUWKH FRPPXQHV RI =DZRMD DQG /LSQLFD :LHOND DV LW DFFRXQWV IRU DSSUR[  RIWKRVHFRPPXQHVqWRWDOIRUHVWWD[UHYHQXH7KHWRWDOQRPLQDOYDOXHRIUHDO SURSHUW\WD[SDLGE\WKH3DUN WDNLQJDOVRLQWRDFFRXQWWKHUHLPEXUVHPHQWWKDW WKHFRPPXQHVPD\UHTXHVWHTXLYDOHQWWRWKH3DUNqVWD[H[HPSWLRQ LVVLPLODU WR WKH DPRXQWV UDLVHG XQGHU IRUHVW WD[ +RZHYHU WKDW DPRXQW DFFRXQWV IRU DPLQRUSURSRUWLRQRIWKHFRPPXQHVqWRWDOUHYHQXHXQGHUUHDOSURSHUW\WD[ ,QWHUHVWLQJO\WKDWSURSRUWLRQLVORZHULQ=DZRMD&RPPXQHWKDQLQ/LSQLFD :LHOND&RPPXQH7KDWLVEHFDXVHWKHSRSXODWLRQGHQVLW\LVPXFKKLJKHULQ =DZRMDDQGVRLVWKHQXPEHURIEXLOGLQJVDQGEXVLQHVVHVZKLFKPHDQVWKDW WKHFRPPXQHqVWRWDOUHYHQXHRQUHDOSURSHUW\WD[LVVHYHQWLPHVKLJKHUWKDQ WKHFRUUHVSRQGLQJDPRXQWLQ/LSQLFD:LHOND&RPPXQH

(15)

vv

References

$QDOL]D G]LDäDOQRĈFL %DELRJÑUVNLHJR3DUNX1DURGRZHJRZ U  

=DZRMD%DELRJÑUVNL3DUN1DURGRZ\

%DEF]XN $ .UDZLHF :   5HIRUPD VHNWRUD ILQDQVÑZ SXEOLF]Q\FK D IXQNFMRQRZDQLH SDUNÑZ QDURGRZ\FK 1DXNL R ILQDQVDFK Prace

1DXNRZH8QLZHUV\WHWX(NRQRPLF]QHJRZH:URFäDZLX %HUEHND.  1RZHPHWRG\Z\NRU]\VWDQLDG]LDäDþZ]DNUHVLHRFKURQ\ SU]\URG\ZWDWU]DþVNLP3DUNX1DURGRZ\P=HV]\W\1DXNRZH$NDGHPLL Ekonomicznej w Krakowie %RäWURPLXN$  (NRQRPLF]Q\NRQWHNVWIXQNFMRQRZDQLD%LDäRZLHVNLHJR 3DUNX1DURGRZHJRLVñVLDGXMñF\FKJPLQ:LHĈL5ROQLFWZR   %RURGR $   6\VWHP ILQDQVRZ\ VDPRU]ñGX WHU\WRULDOQHJR Z 3ROVFH

7RUXþ:\GDZQLFWZR'RP2UJDQL]DWRUD

'ROLþVND3LHUZRäD '   2SRGDWNRZDQLH JRVSRGDUVWZ SRPRFQLF]\FK

Finanse Publiczne

Economic benefits of national parks and other reserves  1HZ6RXWK :DOHV'HSDUWPHQWRI(QYLURQPHQW&OLPDWH&KDQJHDQG:DWHU16: 6\GQH\ 5HWULHYHG IURP ZZZHQYLURQPHQWQVZJRYDXUHVRXUFHV UHVHDUFK

Economic Impact of Parks Canada  7KH2XWVSDQ*URXS,QF$PKHUVW ,VODQG5HWULHYHGIURPZZZSFJFFDHQJGRFVELEOLEHFRQRDVS[ (WHO/7\QLHZLFNL0 (G   Finanse publiczne i prawo finansowe.

5HDOLDLSHUVSHNW\Z\]PLDQ%LDä\VWRN:\GDZQLFWZR7HPLGD )DPLHOHF-  6WUDW\LNRU]\ĈFLHNRORJLF]QHZJRVSRGDUFHQDURGRZHM :DUV]DZD.UDNÑZ:\GDZQLFWZR1DXNRZH3:1 )LOLSRZLF]$  =PLDQ\ZXVWDZLHRILQDQVDFKSXEOLF]Q\FKDVWUXNWXUD administracji,Q9%DEê¿N(-DVLXN*30DM (G )LQDQVHVDPRU]ñGX terytorialnego5DGRP:\ĔV]D6]NRäD+DQGORZDZ5DGRPLX +XKWDOD0  $VVHVPHQWRIWKHORFDOHFRQRPLFLPSDFWVRIQDWLRQDOSDUN WRXULVPWKHFDVHRI3DOODV2XQDVWXQWXUL1DWLRQDO3DUN. Forest Snow and

/DQGVFDSH5HVHDUFK  

,QWHUSUHWDFMDLQG\ZLGXDOQD]GQLDPDUFDUQU,373% 30

-DVWU]öEVND 0   )LQDQVH VDPRU]ñGX WHU\WRULDOQHJR :DUV]DZ /H[ D:ROWHUV.OXZHU%XVLQHVV

.UÑOLNRZVND.  .RQIOLNW\VSRäHF]QHZSROVNLFKSDUNDFKQDURGRZ\FK .UDNÑZ 2ILF\QD:\GDZQLF]D,PSXOV

0XVLDä .   *RVSRGDUVWZR SRPRFQLF]H Z URNX  =ZROQLHQLH ]SRGDWNX&,7%LXOHW\QEXGĔHWRZ\

2FKURQDĈURGRZLVND  :DUV]DZD*86

2SLQLDSUDZQDQDWHPDWUHNRPSHQVDW\XWUDFRQ\FKGRFKRGÑZJPLQ]W\WXäX ]ZROQLHQLDRGSRGDWNXRGQLHUXFKRPRĈFLJUXQWÑZEXG\QNÑZLEXGRZOL SRäRĔRQ\FK Z SDUNDFK QDURGRZ\FK L UH]HUZDWDFK SU]\URG\  

(16)

vv

3KLOLSV $ (G    (FRQRPLF 9DOXHV RI 3URWHFWHG $UHDV *XLGHOLQHV

for Protected Area Managers. *ODQG6ZLW]HUODQGDQG&DPEULGJH8. ,8&1

5R]SRU]ñG]HQLH0LQLVWUD)LQDQVÑZ]GQLDPDMDZsprawie zwrotu

XWUDFRQ\FK SU]H] JPLQ\ GRFKRGÑZ ] W\WXäX ]ZROQLHQLD ] SRGDWNX RG QLHUXFKRPRĈFL Z SDUNDFK QDURGRZ\FK UH]HUZDWDFK SU]\URG\ RUD] SU]HGVLöELRUFÑZ R VWDWXVLH FHQWUXP EDGDZF]RUR]ZRMRZHJR ']8 QU

SR]]H]P

6DD\PDQ06DD\PDQ$  &UHDWLQJIUDPHZRUNWRDVVHVVWKHHFRQRPLF FRQWULEXWLRQ RI 1DWLRQDO 3DUNV LQ 6RXWK $IULFD 7KH FDVH RI WKH $GGR (OHSKDQW1DWLRQDO3DUN Tourism Economics  

8VWDZD]GQLDVW\F]QLDURSRGDWNDFKLRSäDWDFKORNDOQ\FK']8 QUSR]]H]P

8VWDZD ] GQLD  OLVWRSDGD  U R GRFKRGDFK MHGQRVWHN VDPRU]ñGX

terytorialnego']8]UQUSR]]H]P 8VWDZD]GQLDOLVWRSDGDURpodatku rolnym']8QUSR]  8VWDZD]GQLDOXWHJRURSRGDWNXGRFKRGRZ\PRGRVÑESUDZQ\FK ']8QUSR]]H]P 8VWDZD]GQLDNZLHWQLDDURochronie przyrody']8QU SR]]H]P

8VWDZD]GQLDVLHUSQLDURzmianie ustawy o ochronie przyrody oraz

QLHNWÑU\FKLQQ\FKXVWDZ']8]UQUSR] 8VWDZD]GQLDOLSFDEURVZRERG]LHG]LDäDOQRĈFLJRVSRGDUF]HM']8 ]UQUSR]]H]P 8VWDZD]GQLDVLHUSQLDURfinansach publicznych']8QU SR]]H]P 8VWDZD]GQLDF]HUZFDRfinansach publicznych']8QU SR] 8VWDZD]GQLDSDĒG]LHUQLNDURSRGDWNXOHĈQ\P']8QU SR]]H]P

:DU\V]DN $   =PLDQ\ Z SODQDFK ILQDQVRZ\FK MHGQRVWHN VHNWRUD ILQDQVÑZSXEOLF]Q\FK5DFKXQNRZRĈèEXGĔHWRZD  

:RĈ$  (NRQRPLDRGQDZLDOQ\FK]DVREÑZQDWXUDOQ\FK:DUV]DZD :\GDZQLFWZR1DXNRZH3:1

=DZLOLþVND%  2EV]DU\FKURQLRQHuEDULHU\F]\VW\PXODQW\UR]ZRMX

ORNDOQHJR",Q$+DUDþF]\N (G Perspektywy rozwoju regionalnego 3ROVNLZRNUHVLHSURJUDPRZDQLDSRUF]öĈè,,3ROVND$NDGHPLD

1DXN .RPLWHW 3U]HVWU]HQQHJR =DJRVSRGDURZDQLD .UDMX 6WXGLD 7 &;/

(17)

vv

POSSIBILITIES OF USING PUBLIC RELATIONS

INSTRUMENTS BY A PUBLIC ORGANIZATION

ON THE EXAMPLE OF THE OFFICE OF TOWN

$1'&20081(2)*ã8&+2ã$=<

Marcin Flieger* Abstract

The paper deals with the issues concerning the image management. Measures in this field can and ought to be taken up not only by private companies, EXW DOVR E\ RUJDQL]DWLRQV RI SXEOLF DGPLQLVWUDWLRQ 2Q WKH H[DPSOH RI WKH 2IILFHRI7RZQDQG&RPPXQHRI*äXFKRäD]\WKHDXWKRUVFUXWLQL]HVNLQGVDQG possibilities of using public relations instruments. As a result, the consistency and efficiency of the image management system in the organization have been evaluated.

Keywords: image management, public administration, commune, public

relations. Instruments.

1. Introduction

2UJDQL]DWLRQVLQSXEOLFDGPLQLVWUDWLRQDUHLQWHUHVWHGLQEHLQJDEOHWRLQIOXHQFH WKH SXEOLF DQG DV D UHVXOW RSHUDWH HIIHFWLYHO\ $GHTXDWH LPDJH DQG VWURQJ LGHQWLW\ DUH QHFHVVDU\ QRW RQO\ WR PDNH DQ RUJDQL]DWLRQ UHFRJQL]DEOH EXW DOVRWRFUHDWHDSRVLWLYHRSLQLRQDERXWLWDPRQJWKHVRFLHW\ )OLHJHU)OLHJHU  ,WVHHPVWKDWPRUHDQGPRUHSXEOLFRUJDQL]DWLRQVVWDUWWRUHDOL]HWKLV IDFWDQGWKH\EHFRPHLQFUHDVLQJO\LQWHUHVWHGLQXVLQJDUUD\RISXEOLFUHODWLRQV LQVWUXPHQWV

3XEOLFUHODWLRQVLWVHOIPD\EHGHILQHGLQYDULRXVZD\VKRZHYHURQHRI WKH PRVW JHQHUDO GHILQLWLRQV KDV EHHQ SURSRVHG E\ WKH :RUOG $VVHPEO\ RI 3XEOLF5HODWLRQV$VVRFLDWLRQV$FFRUGLQJWRWKHDVVHPEO\SXEOLFUHODWLRQVLV WKHDUWDQGVRFLDOVFLHQFHRIDQDO\]LQJWUHQGVSUHGLFWLQJWKHLUFRQVHTXHQFHV FRXQVHOLQJ RUJDQL]DWLRQDO OHDGHUV DQG LPSOHPHQWLQJ SODQQHG SURJUDPV RI DFWLRQ ZKLFK ZLOO VHUYH ERWK WKH RUJDQL]DWLRQ DQG WKH SXEOLF LQWHUHVW 7R PDNHLWVLPSOHULWFDQEHVDLGWKDW35LVDVWUDWHJLFFRPPXQLFDWLRQSURFHVV

3K'$VVLVWDQW3URIHVVRU0DQDJHPHQW'HSDUWPHQW*HQHUDO7DGHXV].RĈFLXV]NR0LOLWDU\$FDGHP\RI/DQG)RUFHV XO&]DMNRZVNLHJR:URFODZHPDLOIOLHJHU#ZSSO

(18)

vv WKDWEXLOGVPXWXDOO\EHQHILFLDOUHODWLRQVKLSVEHWZHHQRUJDQL]DWLRQVDQGWKHLU SXEOLFV7KHDLPRIWKHVHDFWLRQVLVWRFUHDWHDQGVXVWDLQDSRVLWLYHLPDJHRI DQRUJDQL]DWLRQRULWVSURGXFWV LQFDVHRISXEOLFDGPLQLVWUDWLRQWKHSURGXFWLV VHUYLFHV 7KHLPDJHLWVHOIRXJKWWREHXQGHUVWRRGDVZKDWSHRSOHWKLQNRIDQ RUJDQL]DWLRQLWLVDVHWRILPSUHVVLRQVZKLFKGRQRWQHFHVVDULO\KDYHWRUHIOHFW UHDOLW\LQRWKHUZRUGVREMHFWLYHDVVHVVPHQW 'DYLV$OWNRUQ  ,WLVFUHDWHGDVDUHDFWLRQWRDQDUUD\RILQFHQWLYHVWUDQVPLWWHGWRDFRPSDQ\qV FOLHQWV 7KH IDFW WKDW LPDJH LWVHOI LV VXEMHFWLYH 1HZVRP 6FRWW 9DQVO\NH  LVDQH[WUHPHO\LPSRUWDQWIHDWXUHEHFDXVHLWPHDQVWKDWLPDJHFDQEH LQIOXHQFHG DQG FKDQJHG VR WKH SXEOLF RSLQLRQ RI DQ RUJDQL]DWLRQ PLJKW EH FUHDWHGIUHHO\E\XVLQJDSSURSULDWHLQVWUXPHQWV )OLHJHU)OLHJHU 

,W DSSHDUV WKDW SXEOLF UHODWLRQV LQVWUXPHQWV DUH YHU\ HIILFLHQW D ORW RI RUJDQL]DWLRQVVWDUWWRUHDOL]HWKDWIRFXVLQJRQFUHDWLQJDVWURQJSRVLWLYHLPDJH EULQJVFRQVLGHUDEOHEHQHILWVLQDORQJWHUP )OLV ,IFXVWRPHUVtrust an RUJDQL]DWLRQWKH\EHFRPHOR\DO,QFDVHRIORFDODGPLQLVWUDWLRQVXFKDVWKH RIILFHRIFRPPXQHSRVLWLYHSHUFHSWLRQRIWKHUHJLRQPLJKWEHDFUXFLDOIDFWRU ZKLFKDWWUDFWVSRWHQWLDOLQKDELWDQWVWRXULVWVRULQYHVWRUV 0DèNRZVND  ,IORFDODGPLQLVWUDWLRQLVSHUFHLYHGDVSURIHVVLRQDODQGKHOSIXOWKHVHJURXSV ZLOOEHHDJHUWREHFRPHLQWHUHVWHGLQOLYLQJYLVLWLQJRUORFDWLQJWKHLUEXVLQHVV LQWKHDUHD

$W WKLV SRLQW LW RXJKW WR EH HPSKDVL]HG WKDW WKH QDWXUH DQG LGHQWLW\ RI SXEOLF RIILFHV GLIIHU FRQVLGHUDEO\ IURP SULYDWH FRPSDQLHV ,W LV HQRXJK WR FRQVLGHUWKHIRXQGDWLRQVRIDQ\RUJDQL]DWLRQuLWVPLVVLRQ5HJDUGLQJDSXEOLF DGPLQLVWUDWLRQ RUJDQL]DWLRQ LW IRFXVHV DW VHFXULQJ VDIH DQG GHFHQW OLIH FRQGLWLRQVIRUFLWL]HQV:KDWLVPRUHlocalDGPLQLVWUDWLRQLVH[SHFWHGWRVROYH ORFDOSUREOHPVLQDQHPSKDWLFDQGHWKLFDOZD\ .QHFKW $VDUHVXOWWKH DVVXPSWLRQVZKLFKFRQVWLWXWHWKHEDVLVRIXQGHUWDNLQJPHDVXUHVLQWKHILHOGRI 35LQSXEOLFRUJDQL]DWLRQVDUHTXLWHGLIIHUHQWIURPWKHPRWLYDWLRQRISULYDWH EXVLQHVVHV)LUVWO\WKHKLHUDUFK\RIREMHFWLYHVGLIIHUV,QFDVHRIFRPPXQHV WKHXWPRVWJRDOLVWRSUHVHQWZKDWPDWWHUVWKHRIILFHFRSHVZLWKDQGDVDUHVXOW WREXLOGWKHDWPRVSKHUHRIVRFLDODFFHSWDQFHRIWKHLUDFWLRQV+RZHYHUWKH OHYHORIVXSSRUWDQGWUXVWGRHVQRWKDYHDQ\LQIOXHQFHRQWKHRIILFHqVSRVLWLRQ LQWKHDGPLQLVWUDWLYHV\VWHPZKHUHDVLQFDVHRISULYDWHRUJDQL]DWLRQVFUHDWLQJ DQLPDJHLVMXVWWKHZD\WRVHFXUHILQDQFLDOVWDELOLW\:KDWLVPRUHSXEOLF RUJDQL]DWLRQVVHHPWREHobligedWRFUHDWHLPDJHDFWLYHO\HVSHFLDOO\LQWHUPV RILQIRUPLQJDERXWWKHLUDFWLRQVDQGLQLWLDWLYHVHVSHFLDOO\WKDWSXEOLFRIILFHV DUH ILQDQFHG E\ WD[ SD\HUV 5HJDUGLQJ SULYDWH FRPSDQLHV JHWWLQJ LQYROYHG LQDQ\PHDVXUHVLQWKHILHOGRILPDJHPDQDJHPHQWLVRQFHDJDLQFRQGLWLRQHG E\WKHSRVVLELOLW\WRLQFUHDVHSURILWV7KLUGO\WKHUHLVDSURIRXQGGLIIHUHQFH UHJDUGLQJWKHLQLWLDOSXEOLFLQWHUHVWRIERWKRUJDQL]DWLRQV7KHUHLVDVWURQJ

(19)

vv

WHQGHQF\DPRQJWKHSXEOLFWRPRQLWRUDQGMXGJHWKHZRUNRIFLYLOVHUYDQWV,Q FDVHRISULYDWHEXVLQHVVHVVXFKLQLWLDOLQWHUHVWGRHVQRWH[LVWDWDOO

$QRWKHU GLIIHUHQFH LV WKDW EHFDXVH RI WKH VWDWXWRU\ IRXQGDWLRQV SXEOLF RUJDQL]DWLRQVGRQRWKDYHDQ\UHDOFRPSHWLWLRQ&RQFHUQLQJSULYDWHEXVLQHVV LW LV TXLWH REYLRXV WKDW WKH FRPSHWLWLRQ LV PRVW RIWHQ VWURQJ )LQDOO\ WKHUH H[LVWVDYHU\LPSRUWDQWGLIIHUHQFHFRQFHUQLQJWKHFRQVHTXHQFHVRIPLVWDNHV LQFUHDWLQJLPDJH)RUWKHSXEOLFRIILFHWKHXOWLPDWHUHVXOWRIQHJDWLYHLPDJH LVRQO\WKHGHFUHDVHLQOHYHORIWUXVWZKHUHDVSULYDWHFRPSDQLHVPD\HYHQJR EDQNUXSW *LHGURMè)OLHJHU)OLHJHU 

,W VHHPV YLWDO WR EH FRQVFLRXV RI WKH DERYHPHQWLRQHG GLIIHUHQFHV IRU LW OHWV XV XQGHUVWDQG FRQVLGHUDEO\ EHWWHU WKH FLUFXPVWDQFHV LQ ZKLFK SXEOLF RIILFHVRSHUDWHDQGFRQGLWLRQVZKLFKPXVWEHWDNHQLQWRDFFRXQWLQRUGHUWR FUHDWHDQGPDQDJHWKHLULPDJHPRUHHIIHFWLYHO\

7DNLQJWKHDERYHPHQWLRQHGDVSHFWVLQWRFRQVLGHUDWLRQWKHDXWKRURIWKH DUWLFOHGHFLGHGWRDQDO\]HSRVVLELOLWLHVRIXVLQJSXEOLFUHODWLRQVLQVWUXPHQWV E\DSXEOLFDGPLQLVWUDWLRQRUJDQL]DWLRQ7KHUHVHDUFKKDVEHHQFDUULHGRXW WRJHWKHU ZLWK .DWDU]\QD %DWRJ IURP *HQHUDO 7DGHXV] .RĈFLXV]NR 0LOLWDU\ $FDGHP\RI/DQG)RUFHVRQWKHH[DPSOHRIWKH2IILFHRI7RZQDQG&RPPXQH RI*äXFKRäD]\$VDUHVXOWWKHDXWKRUPDGHDQDWWHPSWWRGHWHUPLQHZKHWKHU WKHVFUXWLQL]HGRIILFHRIFRPPXQHLVDEOHWRFUHDWHDFRQFLVHV\VWHPRILPDJH PDQDJHPHQW

,Q RUGHU WR DFKLHYH WKLV REMHFWLYH WKH DXWKRU KDV SXW LQWR VFUXWLQ\ WKH GRFXPHQWVERWKLQWHUQDODQGH[WHUQDOZKLFKFRQVWLWXWHOHJDOIRXQGDWLRQVIRU DFWLRQVLQWKHILHOGRISXEOLFUHODWLRQVDQDO\]HGV\PSWRPVRIWKHFRPPXQHqV SXEOLFUHODWLRQVDFWLYLWLHV ERWKYLVXDODQGQRQYLVXDOIDFWRUV DQGFDUULHGRXW DQLQWHUYLHZZLWKWKHSHUVRQZKRLVUHVSRQVLEOHIRUFUHDWLQJSRVLWLYHLPDJHRI WKH2IILFHRI7RZQDQG&RPPXQHRI*äXFKRäD]\E\LPSOHPHQWLQJDSSURSULDWH 35LQVWUXPHQWV 3XEOLFUHODWLRQVLQVWUXPHQWVXVHGE\WKH2IILFHRI7RZQDQG &RPPXQHRI*äXFKRäD]\ &RPPXQHRI*äXFKRäD]\LVDSDUWRI1\VD'LVWULFW LQ/RZHU6LOHVLD3URYLQFH  DQGLWFRYHUVWKHDUHDRIVTXDUHNLORPHWHUV,WKDVDSRSXODWLRQRI LQKDELWDQWV7KH2IILFHRI&RPPXQHRI*äXFKRäD]\FRQVWLWXWHVDEDVLFXQLW RIDORFDODGPLQLVWUDWLRQV\VWHPDQGLWVPDLQREMHFWLYHLVWRRUJDQL]HSXEOLF OLIHRQLWVWHUULWRU\ 8VWDZDRVDPRU]ñG]LHJPLQQ\P>$FWRQ&RPPXQH6HOI *RYHUQPHQW@WHNVWMHGQROLW\']8]U1USR]6WDWXW*PLQ\ *äXFKRäD]\ >6WDWXWH RI *äXFKRäD]\ &RPPXQH@ 8FKZDäD QU  5DG\ 0LHMVNLHM Z *äXFKRäD]DFK ] GQLD  F]HUZFD  U >5HVROXWLRQ RI 7RZQ &RXQFLORIWK-XQH@ &RQFHUQLQJWKHVWUXFWXUHRIWKH2IILFHLWFRQVLVWVRI

(20)

vv

VHYHQWHHQGHSDUWPHQWV =DU]ñG]HQLHQU3U%XUPLVWU]D*äXFKRäD] ]GQLDU>5HVROXWLRQRI*äRFKRäD]\0D\RURI@ 7KH SXEOLF UHODWLRQV WRROV XVHG E\ WKH FRPPXQH DQG DQDO\]HG LQ WKH SDSHU DUH FOLHQW VHUYLFH PHGLD UHODWLRQV &RUSRUDWH ,GHQWLW\ VSRQVRULQJ LPDJH FULVLV PDQDJHPHQWFRPPXQHqVRZQSXEOLFDWLRQVDQGLQWHUQDOFRPPXQLFDWLRQ

Client service

'HILQLWHO\WKHFUXFLDOLQVWUXPHQWZKLFKLVVXSSRVHGWRFUHDWHDSRVLWLYHLPDJH RIDQ\RUJDQL]DWLRQLVWKHZD\DFOLHQWLVWDNHQFDUHRIE\DSHUVRQQHO$WWKH EHJLQQLQJRIWKHDQDO\VLVRIWKLVLQVWUXPHQWLWLVLPSRUWDQWWRVWUHVVWKDWWKH PD\RU RI *äXFKRäD]\ WRZQ KDV VHW WKH IROORZLQJ XOWLPDWH REMHFWLYH IRU DOO WKH HPSOR\HHV UHFRJQL]LQJ DQG IXOILOOLQJ DOO H[SHFWDWLRQV DQG QHHGV RI WKH 2IILFHqVFOLHQWV:KDWVHHPVHVSHFLDOO\LQWHUHVWLQJLVWKHIDFWWKDWWKLVFOLHQW KDVEHHQGLYLGHGLQWRWZRFDWHJRULHVuDQDFWLYHRQHDQGDSDVVLYHRQH7KH ILUVWVRUWLVXQGHUVWRRGDVDSHUVRQZKRYLVLWVWKH2IILFHLQRUGHUWRGHDOZLWK VRPHDGPLQLVWUDWLYHPDWWHUV7KHODWWHURXJKWWREHSHUFHLYHGDVWKHZKROH ORFDOFRPPXQLW\RWKHURIILFHVRISXEOLFDGPLQLVWUDWLRQFXOWXUDODQGSROLWLFDO RUJDQL]DWLRQV DOO VRUWV RI VRFLHWLHV WRXULVWV YLVLWLQJ WKH FRPPXQH ORFDO HQWUHSUHQHXUVDQGDOVRDOOWKHSHRSOHHPSOR\HGLQWKH2IILFH

7KHUH DUH D IHZ EDVLF HOHPHQWV ZKLFK FRQVWLWXWH D FRQFLVH V\VWHP RI FOLHQWVVHUYLFHLQWKH2IILFHRI7RZQDQG*PLQD*äXFKRäD]\)LUVWRIDOOWKH 2IILFHKDVGHWHUPLQHGFUXFLDOVWDQGDUGVUHJDUGLQJWKHZD\DFOLHQWLVWDNHQ FDUHRI v WKHPRVWLPSRUWDQWSHRSOHDUHclients, v FOLHQWVDUHQRWGHSHQGDQWRIWKH2IILFH v FOLHQWVGRQRWGLVWXUEWKHZD\WKH2IILFHRSHUDWHVEXWWKH\DUHLWV FUXFLDOJRDO

v FOLHQWV DUH DQ internal SDUW RI WKH RUJDQL]DWLRQ QRW SHRSOH IURP RXWVLGH

v HDFKFDVHRXJKWWREHWUHDWHGZLWKSURSHUDWWHQWLRQ v WKHPDLQREMHFWLYHLVWRIXOILOOFOLHQWVQHHGV

v FOLHQWV GHVHUYH IXOO DWWHQWLRQ DQG NLQGQHVV IURP SHUVRQQHO ,62 KWWSZZZJOXFKROD]\YHOSODFFHVV  :KDW LV PRUH WKH 2IILFH KDV FUHDWHG GLIIHUHQW ZD\V LQ ZKLFK D FOLHQW LVDEOHWRFRQWDFWWKHRUJDQL]DWLRQKDVLPSOHPHQWHGWKHV\VWHPRIHIIHFWLYH GHDOLQJZLWKLVVXHGFRPSODLQWVDQGDSSOLFDWLRQVKDVGRQHUHJXODUUHVHDUFKRQ FOLHQWqVVDWLVIDFWLRQDQGILQDOO\LPSOHPHQWHGPHWKRGVRIFRQWLQXRXVLPSURYLQJ SHUVRQQHOqVVNLOOVLQWKHILHOGRIFOLHQWqVVHUYLFH&RQFHUQLQJWKHODWWHUIDFWRU WKH PD\RU RI *äXFKRäD]\ KDV SXW LQWR SUDFWLFH WKH UXOH RI HPSOR\LQJ RQO\ WKHFOHUNVZKRIXOILOOIRUPDOGHPDQGVVWDWHGLQDFWV 8VWDZDRSUDFRZQLNDFK VDPRU]ñGRZ\FK ] GQLD  OLVWRSDGD  U ']8 >$FW RQ

(21)

vv

7HUULWRULDO6HOI*RYHUQPHQW6WDII@ 7KXVDFOHUNVKRXOGSRVVHVVDSSURSULDWH HGXFDWLRQ VNLOOV DQG ZRUN H[SHULHQFH 2QH RI WKH HVVHQWLDO FRQGLWLRQV RI SURIHVVLRQDO VHUYLFH LV SRVVHVVLQJ WKRURXJK NQRZOHGJH LQ WKH ILHOG RI OHJDO UHJXODWLRQVDQGSURFHGXUHV(DFKSURFHGXUHLPSOHPHQWHGLQWKH2IILFHVWHPV IURPSDUWLFXODUOHJDOUHJXODWLRQVDQGLVGHGLFDWHGWRVRPHSDUWLFXODUVHUYLFH SURYLGHGE\WKH2IILFH

:KDW LV H[WUHPHO\ LPSRUWDQW LQ RUGHU WR LPSURYH SHUVRQQHOqV TXDOLILFDWLRQVWKHPD\RUKDVFUHDWHGDV\VWHPWKDQNVWRZKLFKFOHUNVFDQWDNH SDUWLQWUDLQLQJVZRUNVKRSVDQGVHPLQDUV7KHHIIHFWVRIVXFKDFWLYLWLHVDUH FRQWUROOHGGXULQJV\VWHPDWLFHYDOXDWLRQRIWKHTXDOLW\RIWKHLUZRUN

&OLHQW VHUYLFH LQ WKH 2IILFH RI 7RZQ DQG &RPPXQH RI *äXFKRäD]\ WR DYDVWH[WHQWLVEDVHGRQDQHIIHFWLYHLQIRUPDWLRQV\VWHPEHWZHHQDFOHUNDQG DFOLHQW,QRUGHUWREXLOGVXFKDFRQFLVHV\VWHPWKHIROORZLQJPHDVXUHVKDYH EHHQWDNHQXS

v FOLHQWV PD\ KDYH DQ DSSRLQWPHQW ZLWK WKH PD\RU HDFK ZHHN RQ 0RQGD\EHWZHHQDQGSPWKH\PD\DOVRVHQGDQHPDLOGLUHFWO\ WRWKHPD\RU

v DOO SHUVRQQHO KDV EHHQ WUDLQHG WR EH DEOH WR JLYH D FOLHQW FRPSOH[ LQIRUPDWLRQ UHJDUGLQJ DOO PDMRU DVSHFWV RI 2IILFHqV RSHUDWLRQV VWUXFWXUHVDQGSURFHGXUHV v DV\VWHPRILQIRUPDWLRQERDUGVKDVEHHQFUHDWHGLQIRUPLQJFOLHQWV DERXWFXUUHQWDIIDLUVHJXSFRPLQJWHQGHUV v E\WKHGRRUVWRHDFKGHSDUWPHQWWKHUHDUHSODWHVZKLFKLQIRUPDERXW QDPHVRIZRUNHUVWKHLUSRVLWLRQPDLQUHVSRQVLELOLWLHVDQGDSHUVRQ WRFRQWDFWLQFDVHRIDEVHQFH v WKHPRVWLPSRUWDQWDQGSRSXODUGRFXPHQWV IRUPV KDYHEHHQSXWRQ WKH2IILFHqVZHESDJHuWKH\FDQEHGRZQORDGHG v WKHV\VWHPRILVVXLQJDQGGHDOLQJZLWKFRPSODLQWVDQGDSSOLFDWLRQV KDV EHHQ LPSOHPHQWHG =DU]ñG]HQLH %XUPLVWU]D ] GQLD  OXWHJR U>0D\RUqV5HVROXWLRQRIWK)HEUXDU\@ 

v E\XVLQJKHDGSKRQHVDQGDPLFURSKRQHFRQQHFWHGZLWKDSHUVRQDO FRPSXWHUDFOLHQWJDLQVDSRVVLELOLW\WRFRQWDFWWKH2IILFHqV6HFUHWDU\ RQOLQH

v RQ WKH ZHESDJH RI *äXFKRäD]\ %XOOHWLQ RI 3XEOLF ,QIRUPDWLRQ WHOHSKRQH QXPEHUV WR DOO GHSDUWPHQWV RI 7RZQ 2IILFH KDYH EHHQ SXEOLFL]HG WKH %XOOHWLQ DOVR DOORZV SXEOLFL]LQJ RWKHU LQIRUPDWLRQ UHJDUGLQJ2IILFHqVRSHUDWLRQV v LQFDVHWKHUHLVVXFKDQHHGWKH2IILFHSXEOLVKHVEURFKXUHVZKLFK LQIRUPFOLHQWVDERXW2IILFHqVRSHUDWLRQV ,QWKHFRQWH[WRISURYLGLQJSURIHVVLRQDOVHUYLFHIRUFOLHQWVLWLVLPSRUWDQW WRHPSKDVL]HWKDWVLQFHWKH\HDUWKH2IILFHKDVEHHQLPSOHPHQWLQJDQG UHDOL]LQJDVRFDOOHG4XDOLW\3ROLF\ZKLFKLVEDVHGRQ4XDOLW\0DQDJHPHQW

(22)

vv

6\VWHP WKHV\VWHPVWHPVIURPWKHQRUP31(1,62 $VDUHVXOW

WKHPD\RUKDVDFFHSWHG%RRNRI4XDOLW\ZKLFKFRQVWLWXWHVDPRVWLPSRUWDQW GRFXPHQWLQZKLFKDOOHOHPHQWVRI4XDOLW\0DQDJHPHQW6\VWHPLQWKH7RZQ 2IILFH RI *äXFKRäD]\ DUH OLVWHG DQG GHVFULEHG LQFOXGLQJ 3ROLF\ REMHFWLYHV DOO TXDOLW\ SURFHGXUHV DQG SURFHVVHV DQG UHODWLRQV EHWZHHQ WKHP :KDW LV HVSHFLDOO\LPSRUWDQWLVWKHIDFWWKDWDOOWKLVLQIRUPDWLRQLVHDVLO\DYDLODEOHIRU DOOHPSOR\HHVZKRDOVRKDYHEHHQWUDLQHGLQWKHILHOGRITXDOLW\LVVXHV,Q WKLVZD\WKH%RRNRI4XDOLW\FRQVWLWXWHVDEDVHIRUDOOXQLWVWRVHWDSSURSULDWH REMHFWLYHVFRQFHUQLQJTXDOLW\ 7KXVFUXFLDOJRDOVRI4XDOLW\3ROLF\LQFOXGH v GHDOLQJZLWKWKHDGPLQLVWUDWLYHPDWWHUVLQLWLDWHGE\FOLHQWVDVIDVWDV LWLVSRVVLEOHHVSHFLDOO\REH\LQJGHDGOLQHVZKLFKDUHVWDWHGLQODZ UHJXODWLRQV v FRQVWDQWWUDLQLQJVERWKLQWHUQDODQGH[WHUQDOIRUSHUVRQQHOLQFOXGLQJ VXSSRUWLQJHPSOR\HHVZKRVWXG\DWXQLYHUVLWLHV v FRQVWDQWLPSURYHPHQWRIFRPPXQLFDWLRQV\VWHPERWKLQWHUQDODQG EHWZHHQWKH2IILFHDQGLWVFOLHQWV

v GHILQLQJ PDQDJHPHQW XQLWV ZKLFK DUH UHVSRQVLEOH IRU LPSURYLQJ TXDOLW\RIWKHVHUYLFHVSURYLGHGE\WKH2IILFH v VHFXULQJUHVRXUFHVZKLFKDUHQHHGHGWRPDNH4XDOLW\0DQDJHPHQW 6\VWHPIXQFWLRQHIIHFWLYHO\ v LPSOHPHQWLQJVRFDOOHGRSHQLQIRUPDWLRQSROLF\IRUERWKHPSOR\HHV DQGFOLHQWVE\XVLQJ,7V\VWHPV 3ROLW\ND-DNRĈFL8U]öGX0LHMVNLHJR Z*äXFKRäD]DFKKWWSZZZJOXFKROD]\YHOSODFFHVV  ,QRUGHUWRPRQLWRULIFOHUNVREH\WKHUXOHVDQGSURFHGXUHVFRQFHUQLQJ FOLHQWVHUYLFHVWDWHGLQ4XDOLW\3ROLF\WKH2IILFHKDVLPSOHPHQWHGDPHFKDQLVP RI FKHFNLQJ FOLHQW VDWLVIDFWLRQ E\ XVLQJ D VWDQGDUG VXUYH\ WHVW IRU ORFDO DGPLQLVWUDWLRQRIILFHVFHUWLILHGE\3ROLVK&KDPEHURI)RUHLJQ&RPPHUFH

7DNLQJ SDUW LQ WKLV SURJUDP DOORZV WKH 2IILFH RI 7RZQ DQG &RPPXQH RI *äXFKRäD]\ WR FRPSDUH FOLHQW VHUYLFH TXDOLW\ VWDQGDUGV ZLWK RWKHU RIILFHV ZKLFKSDUWLFLSDWHLQWKLVXQGHUWDNLQJ$VDUHVXOWWKH2IILFHJDLQVREMHFWLYH FRPSDUDEOHLQIRUPDWLRQUHJDUGLQJWKHVWDQGDUGRIVHUYLFHDQGDWWKHVDPHWLPH VHWVIXQGDPHQWVIRUIXUWKHULPSURYHPHQWLQWKLVILHOG 2QHRIWKHJURXSVRI2IILFHqVFOLHQWVZKRDUHHVSHFLDOO\LPSRUWDQWDQG ZHOFRPHDUHWRXULVWVZKRFRPHWRWKHUHJLRQ6HUYLFHIRUWKLVJURXSKDVDOVR EHHQSUHSDUHGSURIHVVLRQDOO\:LWKLQ'HSDUWPHQWRI3URPRWLRQ7RXULVPDQG 6SRUWWKHUHH[LVWV7RXULVW,QIRUPDWLRQ&HQWHUZKLFKLVGRQDWHGE\(8IXQGV  ,PSOHPHQWHGDVDSDUWRIWKHSURMHFWp6SUDZQ\6DPRU]ñG:GUDĔDQLH8VSUDZQLHþZ=DU]ñG]DQLXMHGQRVWNñVDPRU]ñGX WHU\WRULDOQHJR Z  8U]öGDFK *PLQ L  6WDURVWZDFK 3RZLDWRZ\FK ] 7HUHQX :RMHZÑG]WZD 2SROVNLHJR L ćOñVNLHJRq (IILFLHQW ORFDO JRYHUQPHQW ,PSOHPHQWLQJ UDWLRQDOL]DWLRQV LQ PDQDJHPHQW RI ORFDO DGPLQLVWUDWLRQ RUJDQL]DWLRQV LQ  &RPPXQH2IILFHVDQG'LVWULFW2IILFHVLQ2SROVNLHDQGćOñVNLH3URYLQFHV 

  ,PSOHPHQWHG DV D SDUW RI WKH VL[WK HGLWLRQ RI WKH SURMHFW p%DGDQLH 6DW\VIDNFML .OLHQWD 8U]öGX ] :\NRU]\VWDQLHP -HGQROLWHJR7UHĈFLRZR.ZHVWLRQDULXV]D$QNLHWRZHJRq 5HVHDUFKRQDFOLHQWqVVDWLVIDFWLRQXVLQJDXQLILHGTXHVWLRQQDLUH 

(23)

vv 7KHFHQWHURSHUDWHVIURPWKHEHJLQQLQJRI0D\WRWKHHQGRI6HSWHPEHUDQGLW SURYLGHVVHUYLFHLQIROORZLQJILHOGV v JLYLQJWRXULVWLQIRUPDWLRQDERXWWKHUHJLRQ v LQIRUPLQJDERXWFXOWXUDODQGVSRUWHYHQWV v LQIRUPLQJDERXWUHJLRQDOV\VWHPRIFRPPXQLFDWLRQ v VHOOLQJPDSVDQGRWKHUSXEOLFDWLRQVFRQFHUQLQJWKHUHJLRQ

v SUHSDULQJ SUHVHQWDWLRQV DQG WDNLQJ SDUW LQ IDLUV DQG LQWHUQDWLRQDO H[KLELWLRQV

v SURYLGLQJSUHVVVHUYLFH

0RUHRYHU LQ WKH FHQWHU LW LV SRVVLEOH WR XVH D PXOWLPHGLD FRPSXWHU VSRQVRUHGE\DSURJUDPUHDOL]HGE\5HJLRQDO7RXULVP2UJDQL]DWLRQ &HQWUXP ,QIRUPDFML7XU\VW\F]QHMZ*äXFKRäD]DFKKWWSZZZJOXFKROD]\SODFFHVV   Media relations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äXFKRäD]\WKHUHFDQEHIRXQGDOLVWRIRIILFLDOPHGLDSDWURQVZLWKZKLFKWKH FLW\FRRSHUDWHV+RZHYHUWKHLQIRUPDWLRQDERXWWKH2IILFHLVSUHVHQWHGDOVR E\RWKHUPHGLDDOORIZKLFKFDQEHGLYLGHGLQWRWKUHHEDVLFPHGLDFKDQQHOV 7KHILUVWRQHLVWKHSUHVV,WLVUHSUHVHQWHGE\ v 1RZD7U\EXQD2SROVNDuQHZVSDSHUIRUP2SROHUHJLRQSXEOLVKHG ERWKLQSDSHUYHUVLRQDQGLQWKH,QWHUQHW KWWSZZZQWRSODFFHVV   v 1RZLQ\ 1\VNLH u UHJLRQDO ZHHNO\ PDJD]LQH KWWSZZZ QRZLQ\Q\VNLHFRPSODFFHVV 

(24)

vv v 0RMHē\FLH*äXFKRäD]uDELZHHNO\GHDOLQJZLWKWKHPDWWHUVGLUHFWO\ FRQQHFWHGZLWKWKHWRZQDQGFRPPXQHRI*äXFKRäD]\LWFRQVWLWXWHV DPHGLXPZKLFKSXWVDORWRIDWWHQWLRQWRORFDOPDWWHUVDQGWKHZD\ ORFDOJRYHUQPHQWRSHUDWHV 7KHQH[WFKDQQHOLVUDGLRDQGWHOHYLVLRQ7KH2IILFHFRRSHUDWHVZLWKIRXU ORFDOUDGLRVWZRRIZKLFKDUHYHU\PXFKLQWHUHVWHGLQORFDODIIDLUVDQGZKLFK DV D UHVXOW RIWHQ KRVW UHSUHVHQWDWLYHV RI ORFDO JRYHUQPHQW 7KH\ DUH 5DGLR *äXFKRäD]\ KWWSJOXFKROD]\RQOLQHFRPSO DFFHVV   DQG 1\VD )0 KWWSZZZQ\VDIP DFFHVV   /RFDO PDWWHUV DUH DOVR RIWHQ GLVFXVVHGDQGFRPPHQWHGLQDORFDO79VWDWLRQFDOOHG7932SROH ZZZWYS SORSROHDFFHVV 

7KHODVWDQGDWWKHVDPHWLPHH[WUHPHO\LPSRUWDQWFKDQQHOLVWKH,QWHUQHW 7KHUHDUHDIHZYLWDOLQWHUQHWSRUWDOVZKLFKDUHXVHGWRLQLWLDWHDQGVXVWDLQ D GLDORJ EHWZHHQ WKH 2IILFH DQG WKH SXEOLF DQG WKXV WR FUHDWH D SRVLWLYH LPDJHRIWKHRUJDQL]DWLRQLQTXHVWLRQ7KHILUVWRQHLV*OXFKROD]\SOZKLFK UHSUHVHQWVDQRIILFLDOVHUYLFHRI7RZQDQG&RPPXQHRI*äXFKRäD]\2QWKH SDJHDYLVLWRUPD\ILQGDOOQHFHVVDU\LQIRUPDWLRQFRQFHUQLQJ

v &LW\2IILFHLWVHOIuVWUXFWXUHDQGPDQDJHPHQWRIWKH2IILFHFRQWDFW WR DOO GHSDUWPHQWV PDNHXS DQG GHFLVLRQV RI &LW\ &RXQFLO D OLQN WR 3XEOLF ,QIRUPDWLRQ %XOOHWLQ LQIRUPDWLRQ UHJDUGLQJ WKH 2IILFHqV 4XDOLW\3ROLF\GRFXPHQWVIRUFOLHQWVWRGRZQORDG

v WKH ZKROH FRPPXQH RI *äXFKRäD]\ u DGGUHVVHV DQG FRQWDFWV WR DOO DGPLQLVWUDWLRQ FXOWXUDO DQG HGXFDWLRQ LQVWLWXWLRQV DQG WR DOO FRPSDQLHVDQGRUJDQL]DWLRQVZKLFKRSHUDWHLQWKHFLW\VKRUWKLVWRU\ RI WKH FLW\ D OLVW RI DOO KLVWRULFDO PRQXPHQWV DWWUDFWLRQV WRXULVW URXWHVLQIRUPDWLRQFRQFHUQLQJDEXJOHFDOODFUHVWDQGDIODJRIWKH FLW\HWF KWWSZZZJOXFKROD]\SODFFHVV 

$QRWKHU SRUWDO JOXFKROD]\RQOLQHSO FRQVWLWXWHV XQRIILFLDO VHUYLFH RI 7RZQDQG&RPPXQHRI*äXFKRäD]\:KDWLVHVSHFLDOO\LQWHUHVWLQJDSDUWIURP FRPPHQWLQJWKHODWHVWORFDOSROLWLFDOFXOWXUDODQGVSRUWHYHQWVLWKDVFUHDWHG DFKDWZKLFKLVGHGLFDWHGWRHQDEOLQJORFDOLQKDELWDQWVWRKDYHDFRQYHUVDWLRQ ZLWKUHSUHVHQWDWLYHVRIORFDOSROLWLFDOVFHQHDQGZLWKSHRSOHZRUNLQJIRU7RZQ 2IILFH 0RUHRYHU WKH VHUYLFH SXEOLVKHV DUWLFOHV DERXW ORFDO HYHQWV DQG OLIH LQ WKH UHJLRQ ZULWWHQ E\ LQKDELWDQWV KWWSZZZJOXFKROD]\RQOLQHFRPSO DFFHVV 

$OVR3XEOLF,QIRUPDWLRQ%XOOHWLQRIWKH7RZQDQG&RPPXQHRI*äXFKRäD]\ LVDQLPSRUWDQWLQVWUXPHQWRIEXLOGLQJSRVLWLYHLPDJHRIWKHRUJDQL]DWLRQ7KH EXOOHWLQLVUXQE\RQHRIWKH2IILFHZRUNHUVDQGLWSURYLGHVDOOLQIRUPDWLRQ FRQFHUQLQJWKH2IILFHZKLFKLVREOLJDWRU\IRUDSXEOLFRUJDQL]DWLRQLQFOXGLQJ WKH 2IILFH LQWHUQDO UHJXODWLRQV &RPPXQH 6WDWXV GHVFULSWLRQ RI SURMHFWV ILQDQFHGE\(XURSHDQ8QLRQIXQGVVWUDWHJ\DQGEXGJHWRIJPLQDXQLWDERXW UHDOHVWDWHVWHQGHUVDQGFULVLVPDQDJHPHQW %LXOHW\Q,QIRUPDFML3XEOLF]QHM

(25)

vv

8U]öGX 0LHMVNLHJR Z *äXFKRäD]DFK KWWSJPLQDJOXFKROD]\VLVFRLQIR DFFHVV 

$SDUW IURP WKH DERYHPHQWLRQHG SRUWDOV LW LV DOVR ZRUWK WR SUHVHQW DVHUYLFHUXQE\D&XOWXUH&HQWHULQ*äXFKRäD]\ KWWSZZZFNJOXFKROD]\ SODFFHVV ZKLFKSXEOLVKHVGHWDLOHGLQIRUPDWLRQDERXWFXOWXUDO HYHQWV 0RUHRYHU RQ WKH ZHE SDJHV RI 1\VD )0 UDGLR ZZZQ\VDIPSO DFFHVV   DQG 5DGLR 2SROH KWWSZZZUDGLRRSROHSO DFFHVV  WKHQHZVDERXWWKHWRZQDQGFRPPXQHRI*äXFKRäD]\LVRIWHQ SXEOLVKHGDQGFRPPHQWHG &RPPXQHRI*äXFKRäD]\DOVRLVDSDUWLFLSDQWRIDSURJUDPILQDQFHGE\ (8FDOOHGpHRIILFHIRU,QKDELWDQWVRI2SROH5HJLRQq KWWSZZZJOXFKROD]\ SODFFHVV .7KHDLPRIWKHSURMHFWLVWREXLOGVRFDOOHGLQIRUPDWLRQ VRFLHW\LQWKHUHJLRQE\HQDEOLQJDFFHVVWRSXEOLFVHUYLFHVRQOLQH6RPHRIWKH UHVXOWVRIWKHSURMHFWDUHVXSSRVHGWREHVKRUWHQLQJWKHWLPHRIGHDOLQJZLWK DGPLQLVWUDWLYHPDWWHUVLVVXHGE\WKH2IILFHqVFOLHQWVGHFUHDVLQJWKHQXPEHURI YLVLWVLQWKH2IILFHORZHULQJDGPLQLVWUDWLYHFRVWV

$SDUW IURP FRPPHQWLQJ GDLO\ HYHQWV W\SLFDO LQIRUPDWLRQ ZKLFK LV EURDGFDVW WR PHGLD E\ WKH 2IILFH FRQFHUQV LQIRUPLQJ SXEOLF RSLQLRQ DERXW DZDUGV RU KRQRUDEOH PHQWLRQV UHFHLYHG E\ WKH ZRUNHUV RI WKH RUJDQL]DWLRQ RUFLWL]HQVDERXWFRPPXQHqVVXFFHVVIXOXQGHUWDNLQJVZKLFKDUHYDOXDEOHIRU ORFDOFRPPXQLW\DQGWDNLQJSDUWLQFKDULW\HYHQWVRUGLIIHUHQWVRUWVRIIDLUV VXFKDV0737RXU6DORQ3R]QDþ077*ORE.DWRZLFH0773RODJUD077 %UQR

Corporate identity

7KH LPDJH RI WKH VFUXWLQL]HG FRPPXQH UHTXLUHV FUHDWLQJ D FRQFLVH V\VWHP RI YLVXDO LGHQWLILFDWLRQ ZKLFK VKRXOG EH XQGHUVWRRG DV DOO VLJQV JUDSKLF HOHPHQWVDQGFRORUVZKLFKDUHUHODWHGWRWKHFKDUDFWHURIFRPPXQHWRJHWKHU ZLWKDFRQFLVHVWUDWHJ\RIXVLQJWKHVHWRROV,QFDVHRIWKH2IILFHRI7RZQDQG &RPPXQHRI*äXFKRäD]\WKLVV\VWHPLQFOXGHVIROORZLQJHOHPHQWV

  6\PEROVRIFRPPXQH

t D FUHVW u WKH FUHVW RI &RPPXQH RI *äXFKRäD]\ GHSLFWV D EODFN ELOO\ JRDWqV KHDG ZLWK \HOORZ EHQW KRUQV WKH KHDG WXUQHG ULJKW RQDZKLWHEDFNJURXQG$WHPSODWHRIWKHFUHVWLVGHVFULEHGLQWKH VWDWXVRI&RPPXQH =DäñF]QLNQUGR6WDWXWX*PLQ\KWWSJPLQD JOXFKROD]\VLVFRLQIRDFFHVV 

t D IODJ u RIILFLDO FRORUV RI &RPPXQH RI *äXFKRäD]\ DUH SUHVHQWHG RQ D ZKLWHDQGEOXH IODJ ZLWK WKH FUHVW ORFDWHG RQ WKH ZKLWH SDUW $ WHPSODWH RI WKH IODJ LV GHVFULEHG LQ WKH VWDWXV RI &RPPXQH =DäñF]QLN QU  GR 6WDWXWX *PLQ\ KWWSJPLQDJOXFKROD]\VLVFR LQIRDFFHVV 

(26)

vv

t D ORJRW\SH u LW RXJKW WR EH XQGHUVWRRG DV D JUDSKLF IRUP ZKLFK FRQVWLWXWHV DQ LQWHUSUHWDWLRQ RI WKH QDPH RI FRPPXQH DQG ZKLFK DOORZVXQDPELJXRXVLGHQWLILFDWLRQRIDWRZQ,QFDVHRIWKH7RZQ DQG &RPPXQH RI *äXFKRäD]\ WKH ORJRW\SH FRQVLVWV RI RQO\ WKH DERYHPHQWLRQHGFUHVW

  2UJDQL]DWLRQDOFRORUVuWKHPDLQFRORUVXVHGLQDOOSXEOLFDWLRQVRI WKH2IILFHDUHEOXHZKLWHEODFNDQG\HOORZ3UHYDLOLQJFRORURQWKH RIILFLDOZHESDJHRIWKHFLW\LVEOXH$OOWKH2IILFHqVGRFXPHQWVPXVW EHSULQWHGLQEODFN

  3ULQWHG PDWHULDOV u WKH 2IILFH KDV D VHW RI RIILFLDO WHPSODWHV RI GRFXPHQWV DSSOLFDWLRQIRUPV ZKLFKDUHXVHGLQWKHSURFHVVRIGHDOLQJ ZLWKFOLHQWVqPDWWHUV7KDQNVWRWKHIDFWWKDWWKH\DUHVWDQGDUGL]HG LW PDNHV LW HDVLHU DQG IDVWHU IRU D ZRUNHU WR UHFHLYH DOO QHFHVVDU\ LQIRUPDWLRQ :KDW LV LPSRUWDQW WHPSODWHV RI DOO DSSOLFDWLRQ IRUPV ZKLFK PLJKW EH XVHIXO IRU D FOLHQW DUH DYDLODEOH RQ WKH ZHE SDJH RIWKH2IILFH5HJDUGLQJEXVLQHVVFDUGVRIILFLDOWHPSODWHVDUHXVHG RQO\E\WKHPD\RUDQGKLVGHSXW\WKHUHVWRIRIILFHZRUNHUVXVHWKHLU SULYDWHFDUGV   'UHVVFRGHuWKHZRUNHUVRIWKH2IILFHDUHUHTXLUHGWREHGUHVVHGLQ DFODVVLFHVWKHWLFZD\LQDGHTXDWHVXEGXHGFRORUVZLWKRXWH[FHVVLYH GHFRUDWLRQV   ,QWHULRUGHVLJQuVXEGXHGFRORUVSODFHVWRVLWDQGWRILOOLQGRFXPHQWV WKHZKROHEXLOGLQJLVDGDSWHGWRWKHQHHGVRIWKHGLVDEOHGFOLHQWV   3ODWHVVLJQERDUGVu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uWKH&RPPXQHRI*äXFKRäD]\LVVXHV

D FRQVLGHUDEOH QXPEHU RI YDULRXV SURGXFWV ZKLFK DUH VXSSRVHG WR VWUHQJWKHQ FRPPXQHqV LPDJH LQFOXGLQJ PXJV FDOHQGDUV PDSV WVKLUWV HPEOHPV SRVWFDUGV 1DWXUDOO\ DOO RI WKHP SUHVHQW YLVXDO HOHPHQWVZKLFKDUHFKDUDFWHULVWLFIRUWKHFRPPXQHuORJRVDFUHVW SLFWXUHVHWF

  0HDQV RI WUDQVSRUWDWLRQ u WKH &RPPXQH RI *äXFKRäD]\ SRVVHVVHV D IHZ FDUV DOO RI ZKLFK DUH LQ ZKLWH FRORU ZLWK WKH FRPPXQHqV V\PEROVSXWRQWKHP

Cytaty

Powiązane dokumenty

Rozwój przedmiotowego sektora blokowany jest przez liczne barie- ry, przy czym za najpoważniejszą uznaje się ograniczony dostęp do kapitału zewnętrznego 3.. Celem artykułu

Dino z Uniwersytetu w Connecticut przeprowadzili zakrojone na szeroką skalę badania firm rodzinnych, które potwierdziły zaskakujące zjawisko, a mianowicie pozytywny związek

Istotny wpływ na wartość i wyniki finansowe firm sektora farmaceutycznego ma również utrata wartości składników niematerialnych, co znajduje swoje odzwierciedlenie w pozio-

W ramach edukacji wczesnoszkolnej realizowanej w formie kształcenia zinte- growanego (Podstawa programowa… 2014, s� 14) wymienia się m�in� następują- ce zadania

Jednym z priorytetów ekologicznych na które kładzie się nacisk w zakładzie jest optymalne zagospodarowanie odpadów, które ma się przełożyć na zmniejszenie zużycia

Mimo że jego przekonanie nie jest prawdziwe, wystarczy ono do umieszczenia części jego ciała tam, gdzie powinny się one znaleźć, aby mógł on przetrwać […] Albo

Sport ma charakter ambiwalent- ny: jest swoistym powrotem do beztroski okresu dziecin´stwa i młodos´ci, równoczes´nie zas´ jest symbolicznym podejmowaniem zadan´ człowieka

W pierwszym przypadku wychowanie moralne przyjmuje forme˛ nauczania, które inaczej jest realizowane w rodzinie, gdzie w sposób mniej lub bardziej naturalny odbywa sie˛ przekaz