Mais conteúdo relacionado Semelhante a The basque case a comprehensive model for sustainable human development (20) Mais de Gorka Espiau (20) The basque case a comprehensive model for sustainable human development1. Executive Summary
“The Basque Case offers a model for 21st Century development, a merger of
Keynesian and Schumpeterian approaches; enhanced social change and
!"#$%&'()#$*&'#+
entrepreneurship.”
,$*-./0#"#1'23#$4-5#6$7-0
8)'9&21&:6#$;).&1$<#3#6-/.#19$
- Diogo Vasconcelos, Founding Chair of the Social Innovation Exchange
“This fascinating Basque case study demonstrates the power of a holistic approach
to development, one that simultaneously and creatively engages with economic,
social, political, environmental and cultural elements and the potential for them to
be aligned to faciltate self-reinforcing positive change.”
- Dr. Jacqueline Klopp, Columbia University
Dr Ibarretxe!s report comes at a critical moment, offering an alternative model
based on a record of success when other experiments have not been as
successful.”
- Dr. Kenneth Melchin, St. Paul University
!"#$"%"&'()#*"%$+,%-(.&"#/&0-(&%1(2&3,%(4567(
36&#"%/,>$?@A51@
(89:;<<:;=:99((((((((((((( ( (
36&#A$?@A51@
2. !"#$%"#&
! "#! $%%&$! '()*'+$! #,-#! .,-#! .%! $'&%.,-#! /''$%/0! 1%2%1! #'! -$! 3#,%!
4%$#%15!4'1/67!,-$!1%-8,%6!'5%!'2!#,'$%!9'*5#$!*5!#*&%!.,%5!8*18+&$#-58%$!
2'18%! *#! #'! #-:%! -! /'5;<! ,-16! /'':! -#! #,%! (-$*8! 9'/*#*8-/<! $'8*-/! -56! %8'5'&*8!
*6%-$!#,-#!,-)%!+56%19*55%6!9'/*8*%$!6+1*5;!#,%!91%)*'+$!#,*1#0!0%-1$=!>/%-1/0<!
,*$#'10!,-$!5'#!%56%6<!-56!#,%!#1*+&9,!'2!21%%!&-1:%#!8-9*#-/*$&!9/+$!/*(%1-/!
6%&'81-80!?'2#%5<!*5!1%-/*#0<!-!6*$;+*$%6!9/+#'81-80@!5'.!/'':$!$'&%.,-#!/%$$!
#1*+&9,-5#! #,-5! *#! 6*6! A! 0%-1$! -;'=! ! B! 1*$*5;! #*6%! &-0! ,-)%! /*2#%6! -//! ('-#$<!
(+#! .,-#! ,-$! ,-99%5%6! #'! #,%! &-50! '2! +$! .,'! 6'! 5'#! '.5! -! ('-#! -99%-1$!
+52'1#+5-#%! -56! C! #'! &-50! '2! #,%! &-50! C! (/-#-5#/0! +52-*1=! D,%! 34-$,*5;#'5!
>'5$%5$+$7! &-0! $#*//! (%! #,%! 8'5$%5$+$! '5! 4-//! E#1%%#! '1! *5! 4-$,*5;#'5! (+#!
*#! /'':$! *581%-$*5;/0! &'#,F%-#%5! '5! G-*5! E#1%%#! '1! *5! H%'1*-=! "5! $,'1#<! .,-#! !
>=! I=! G-89,%1$'5! &-50! 0%-1$! -;'! 6%$81*(%6! -$! 3#,%! 9'/*#*8-/! #,%'10! '2!
9'$$%$$*)%!*56*)*6+-/*$&7!,-$!#-:%5!$'&%!,-16!:5'8:$!1%8%5#/0<!8+/&*5-#*5;!*5!
#,%!3J1%-#!K%8%$$*'57!'2!LMMNFLMOO!-56!-!1%#,*5:!$%%&$!#'!(%!*5!'16%1=!4,%1%!
6'!.%!;'!21'&!,%1%P
! Q'1#+5-#%/0<!.%!6'!5'#!,-)%!#'!$#-1#!21'&!$81-#8,!-$!#,%1%!-1%!-!5+&(%1!
'2!9'#%5#*-/!&'6%/$!2'1!-/#%15-#*)%!.-0$!'2!'1;-5*R*5;!$'8*%#*%$!*5!&'1%!,+&-5%!
-56!/%$$!8'&9%#*#*)%!.-0$!#,-5!-1%!8-//%6!2'1!(0!+52%##%1%6!-56!+51%;+/-#%6!
8'&9%#*#*'5=!B&'5;!#,%&!*$!#,%!-991'-8,!-6'9#%6!*5!S+$:-6*!F!#,%!I-$T+%!
>'+5#10!*5!5'1#,!%-$#%15!E9-*5!C!.,*8,<!9'$#!Q1-58'<!-8,*%)%6!-!8'5$*6%1-(/%!
6%;1%%! '2! -+#'5'&0! 21'&! #,%! J')%15&%5#! *5! G-61*6! -56! +$%6! *#$! 1%;*'5-/!
21%%6'&!#'!81-2#!-!+5*T+%/0!3I-$T+%!$#1-#%;07!#'!+56%1#-:%!#,%!1%;%5%1-#*'5!'2!
#,%!1%;*'5=!S+$:-6*!,-6!(%%5!-5!*56+$#1*-/!8%5#%1!2'1!#,%!E9-5*$,!$#-#%!(+#<!-#!
#,%!$#-1#!'2!#,%!LO$#!>%5#+10<!*#!.-$!$+22%1*5;!21'&!&-50!'2!#,%!91'(/%&$!2-8*5;!
'#,%1!1%;*'5$!#,1'+;,'+#!S+1'9%!-56!U'1#,!B&%1*8-!#,-#!,-6!%8'5'&*%$!(-$%6!
'5!,%-)0!*56+$#1*%$!#,-#!,-6!&')%6!*5#'!#,%!5%./0!*56+$#1*-/*$%6!8'+5#1*%$!'2!
#,%!;/'(-/!$'+#,=
3. ! "#$! %&'()! '*! #'+! &#$! ,-%./$! 0'1$(23$2&! -24! 5$'56$! 7(-*&$4! -!
%&(-&$8)! &'! ($8$2$(-&$! &#$9(! $7'2'3)! '1$(! &#$! 2$:&! 4$7-4$! ;! -24! &'! 4'! %'!
+9&#! &#$! %/55'(&! '*! &#$! 1-%&! 3-<'(9&)! '*! &#$! ,-%./$! 5$'56$=! 92! %59&$! '*! &#$!
!
'2>8'928!8/$((966-!7-35-982!'*!?"@!-8-92%&!&#$!A5-29%#!%&-&$!>!9%!7'2&-92$4!92!
&#$!*'66'+928!B$5'(&=!+#97#!#-%!&#$!8($-&!-41-2&-8$!'*!C$928!+(9&&$2!C)!'2$!
'*!&#$!7#9$*!-(7#9&$7&%!'*!&#$!,-%./$!%&(-&$8)=!&#$!*'(3$(!D$#$4-(-E9=!F(G!H/-2!
IC-(($&:$! J-(E/-(&/G! K9&#! 9&%! *'7/%! '2! L&#$! ($-6! $7'2'3)=M! -! 7'339&3$2&! &'!
8$2/92$!5/C697>5(91-&$!5-(&2$(%#95%=!-2!-77$5&-27$!'*!&#$!2$$4!&'!921'61$!&#$!
+'(E!*'(7$!92!56-22928!$7'2'397!5'6979$%=!-24!-!C$69$*!&#-&!8'1$(23$2&!-7&9'2!
92!%/55'(&!'*!921$%&3$2&%!92!&$7#2'6'8)=!922'1-&9'2!-24!$4/7-&9'2!+'/64!5-)!
&#$!,-%./$!%&(-&$8)!5('194$%!%'3$!76$-(!-6&$(2-&91$!6$%%'2%!-C'/&!($*'(3!-24!
($8$2$(-&9'2!&#-&!4'!2'&!2$7$%%-(96)!927'(5'(-&$!-!L(-7$!&'!&#$!C'&&'3GM!!
! N6$-(6)=!2'&!$1$()Π!+'(E$4!-%!+$66!-%!+-%!#'5$4=!-24!&#$!-C969&)!
'*!	%!-55('-7#!&'!5('&$7&!&#$!$7'2'3)!-24!&#$!5$'56$!+'(E928!92!9&!*('3!&#$!
$**$7&%!'*!-!3-<'(!($7$%%9'2!#-%!)$&!&'!C$!($19$+$4G!O'+$1$(=!&#$!94$-%!5/&!92&'!
5(-7&97$!92!?/%E-49!-($!+$66!+'(&#!C$928!&-E$2!1$()!%$(9'/%6)!92!'&#$(!7'/2&(9$%!
-24! ($89'2%G! H/%&! -%! &#$! J'24(-8'2! $:5$(9$27$! #-%! *'7/%$4! 92&$(2-&9'2-6!
-&&$2&9'2! '2! -6&$(2-&91$! +-)%! '*! (/22928! 924/%&(9-6! $2&$(5(9%$%=! %'! &#$! '1$(-66!
L,-%./$!%&(-&$8)M!3-)!C$7'3$!&#$!C-%9%!*'(!'&#$(!5'%9&91$!-24!7($-&91$!($-!
&9'2%!&'!%'3$!'*!&#$!5('C6$3%!'*!5'%&>924/%&(9-6!%'79$&9$%!92!&#$!PQ%&!N$2&/()G
N#(9%&'5#$(!J9&7#$66
0$'(8$!J-%'2!R291$(%9&)=!S9(8929-
4. !"#$%&'(#)%"
! "#! $%&'! ()*+,-#$! .-! /0-'-#$! -1&(-#*-! )2! 3! '+**-''2+4! ,)(-4! 2)0!
'+'$3Ţ-!%+,3#!(-1-4)/,-#$6!.&$%&#!$%-!*)#$-7$!)2!,+4$&8#3$&)#34!')*&-$&-'9!
:!;3'<+-!,)(-4!$%3$!(-,)#'$03$-'!$%3$!'-428=)1-0#,-#$6!$%3$!&'!$%-!*3/3*&$>!)2!
/)4&$&*346!-*)#),&*!3#(!')*&34!'-4280-=+43$&)#6!*3#!5-!3!'>#)#>,!2)0!'+'$3Ţ-!
(-1-4)/,-#$9!!?-!)22-0!$%&'!;3'<+-!@3'-!3'!3#!-73,/4-!$)!$%)'-!.%)!'--A!
&##)13$&1-!')4+$&)#'!$)!$%-!*),/4-7!*%344-#=-'!)2!$%-!BC'$!@-#$+0>9!
! D%-! ,)(-4! /0-'-#$-(! &'! #)$! )#-! )2! %>/)$%-$&*34! *)#E-*$+0-6! 5+$! 3#!
-73,/4-!$%3$!(03.'!+/)#!$%&0$>!>-30'!)2!-7/-0&-#*-9!!D%&'!.)0A!3&,'!$)!3#34>F-!
$%-! &#&$&3$&1-'! 3#(! /)4&*&-'! $%3$! -#354-(! 3! /0)=0-''&1-! $03#'2)0,3$&)#! )2! $%-!
;3'<+-! @)+#$0>! )1-0! $%-'-! $%0--! (-*3(-'6! .&$%! 3! /30$&*+430! 2)*+'! )#! $%-!
/-0&)(!)2!CGGH!8!BIIH9!!:'!3!%)4&'$&*!,)(-4!)2!'+'$3Ţ-!%+,3#!(-1-4)/,-#$!
JŘ>6! .-! '%30-! )+0! -7/-0&-#*-! 3#(! '+==-'$! A->! 4-'')#'! $%3$! ,3>! 3''&'$!
)$%-0'!$)!3(13#*-!&#!$%-&0!).#!-22)0$'!$)!*+4$&13$-!#-.!,)(-4'!)2!(-1-4)/,-#$9
! D%&'!()*+,-#$!&'!.0&$$-#!&#!=03$&$+(-!$)!$%-!;3'<+-!K-)/4-6!)#-!)2!$%-!
,)'$! 3#*&-#$! *),,+#&$&-'! &#! L+0)/-! $%3$! %31-! /)'&$&)#-(! $%-,'-41-'! 3$! $%-!
*+$$&#=!-(=-!)2!/0)=0-''9!K0)=0-''!$%3$!&'!+#(-0'$))(!#)$!)#4>!3'!-*)#),&*!
=0).$%! )0! $-*%#&*34! &##)13$&)#6! 5+$! 34')! ')*&34! /0)=0-''! 3$! $%-! '-01&*-! )2!
$%-! *),,+#&$>9! ! :! 0-'&4&-#$! K-)/4-! .%)! %31-! 3*%&-1-(! 3! 4-3(&#=! /)'&$&)#! &#!
$%-! M#&$-(! N3$&)#'O! P+,3#! Q-1-4)/,-#$! "#(-76! (-'/&$-! )1-0! $%&0$>! >-30'! )2!
1&)4-#*-!3'')*&3$-(!.&$%!$%-!LD:!$-00)0&'$!=0)+/9!
;>!R+3#8R)'-!"5300-$7-!S30A+30$+6!K%9!Q
T-%-#(3A30&!)2!$%-!:+$)#),)+'!@),,+#&$>!)2!$%-!;3'<+-!@)+#$0>6!
CGGH!8!BIIH
5. The Basque Case
! !!!!!!!!!"#$%&'()$*&#
! !!!!!!!!!+!,-.%/'!0*1*&#
! !!!!!!!!!2-%//!,$%.$/3*)!+4/1
Economic Strategy
! !!!!!!!!!"#$%&'()$*&#
! !!!!!!!!!5/.%#*#3!$&!6&78/$/
! !!!!!!!!!5/.%#*#3!$&!6&78/$/!*#!6&&8/%.$*&#
! !!!!!!!!!5/.%#*#3!$&!"##&9.$/!*#!6&&8/%.$*&#
Social Cohesion Strategy
! !!!!!!!!!"#$%&'()$*&#
! !!!!!!!!!:'().$*&#
! !!!!!!!!!;/.<$-!.#'!,&)*.<!6.%/
! !!!!!!!!!,&)*.<!"#)<(1*&#!
! !!!!!!!!!=/#'/%!:>(.<*$?
! !!!!!!!!!+!6(<$(%.<!"'/#$*$?!@8/#!$&!$-/!A&%<'
Environmental Strategy
! !!!!!!!!!"#$%&'()$*&#
! !!!!!!!!!B/'*(7C$/%7!,$%.$/3*)!D<.##*#3E!FGGF!C!FGFG
! !!!!!!!!!H*3-$!+3.*#1$!6<*7.$/!6-.#3/
! !!!!!!!!!,(1$.*#.I</!:#/%3?E!2%.#18&%$!.#'!B&I*<*$?
Results
! !!!!!!!!"#'*).$&%1!&J!:)&#&7*)!=%&K$-
! !!!!!!!!"#'*).$&%1!&J!,&)*.<!6&-/1*&#
! !!!!!!!!"#'*).$&%1!&J!:#9*%/#$.<!,(1$.*#.I*<*$?
! !!!!!!!!,(77.%?
! !!!!!!!!6&#)<(1*&#
Keys to Success
! !!!!!!!6&#)/8$*&#!.#'!0*1*&#
! !!!!!!!D(I<*)CD%*9.$/!,-.%/'!5/.'/%1-*8
! !!!!!!!6&77*$7/#$!$&!$-/!L/.<!:)&#&7?
! !!!!!!!+!,&)*.<!,$.$/
! !!!!!!!,/<JC=&9/%#7/#$
A Road Map for New Governance
! !!!!!!!M/K!=&9/%#.#)/
! !!!!!!!M/K!,/<J!=&9/%#7/#$
!!!!!!!!!!!!!!!!!!!!!Conclusion
!!!!!!!!!!!!!!!!!!!!:#'!M&$/1
!!!!!!!!!!!!!!!!!!!!N*I<*&3%.8-?
6. !"#$%&'()#$*&'#
+,-./0)1-2/,
! "#!$%&!'($%!)&#$*+,!#&-./01&+2/!3-4&/5!-6!4&7&/-83&#$!8+-9/203&4!$%2$! =
*#6&$$&+&4!:+-;$%!;-*/4!2472#9&!%*32#0$,<!2!+050#:!$04&!;-*/4!/06$!2//!1-2$5 >!
?%05! /0#&! -6! $%-*:%$! :20#&4! #&2+! *#@*&5$0-#&4! 5*8+&329,! 26$&+! $%&! 62//! -6!
$%&!A&+/0#!;2//!2#4!$%&!620/*+&!-6!5-902/053>!B*C*,232!&7&#!;&#$!25!62+!25!$-!
8+-9/203!$%2$!;&!%24!+&29%&4!$%&!D!-6!%05$-+,E'>!F-;&7&+G!2$!$%&!42;#!-6!
$%&!'=5$!9&#$*+,!0$!05!9/&2+!$%2$!$%&!+&5*/$5!-6!#&-./01&+2/!8-/090&5!%27&!1&&#!62+!
6+-3!&@*2/>!!"#!2:+&&3&#$!;0$%!H2/&2#-G!;&!2+:*&!$%2$!$-!42$&!D4&7&/-83&#$!05!
2!I-*+#&,!;0$%!3-+&!5%08!;+&9C5!$%2#!520/0#:!1-2$5>EJ
! ?%05! 1&/0&6! $%2$! $%&! 0#70501/&! %2#4! -6! $%&! 32+C&$! ;0//! 2472#9&! -*+!
9-//&9$07&! %*32#0$,! 05! ;27&+0#:>! ?%&! $03&! %25! 9-3&! $-! 82*5&! 6-+! 2! 3-3&#$!
$%&!;-+/4!$%2$!2+&!25C0#:!*5!6-+!8+*4	&>!!"#!5%-+$!0$!05!#&9&552+,!$-!2#5;&+!
@*&5$0-#5!25!5038/&!25!$%&5&K
F27&!;&!9+-55&4!$%&!1-*#42+0&5!-6!$%&!L2+$%M5!+&:&#&+2$07&!928290$,N
O-!&9-#-309!:+-;$%!2#4!9-38*/507&!9-#5*3&+053!32C&!*5!%288,N!!
P%,!2#4!%-;!404!;&!+&29%!$%05!8-0#$N
F-;!92#!;&!:*2+2#$&&!2!1&$$&+!6*$*+&!6-+!$%&!;%-/&!-6!%*32#C0#4N
F-;!92#!#2$0-#5!2#4!/-92/!9-33*#0$0&5!8+&5&+7&!$%&!10-/-:092/!407&+50$,!
-6!$%&!8/2#&$N!
!
@*-$&4! 0#! %05! 2+$09/&! D)&#$+-E! 0#! Q2! )27&+#2K! DP&! ;-*/4! 5&//! &7&+,$%0#:! ,-*!
#&&4&4!06!;&!404#M$!8+&6&+!,-*!$-!#&&4!;%2$!;&!%27&!$-!5&//>ER!?%&!+&/&#$/&55!
;2,504&G!05!#-!/-#:&+!&#-*:%>!S-+!05!0$!8-5501/&!$-!$*+#!2!1/0#4!&,&!;%&#!$%&!
F+-#3&#$2/!12/2#9&!-6!$%&!8/2#&$!05!2$!+05C>!!T5!$%&!:/-12/!&9-#-3,!50$5!2$!
$%&!1+0#CG!#-;!05!$%&!$03&!6-+!:&#&+2$07&!9%2#:&!2#4!0##-72$07&!5-/*$0-#5>
7. !!!!!! "#$%&&! '()! *+%,)! '()$)! -&! .! /).$0-0*! 1%$! 2%$)! .#'-3)! 4.$'-#-4.'-%0!
-0! &%#-)'/5! .06! .0! )'(-#.+! #%70')$89)-*('! '%! 47$)+/! 2.$:)'! 6$-3)0! #.4-'.+-&2;!
!
<-'-=)0&! %1! )3)$/! 0.'-%0! .$)! 6)2.06-0*! .! 0)9! 2%6)+! %1! 6)3)+%42)0'! '(.'!
-0#%$4%$.')&! &%#-.+! .06! )03-$%02)0'.+! ,.+.0#);! >)3)+%42)0'! ,.&)6! %0!
-03)&'2)0'! -0! &%#-.+! #.4-'.+! .06! &%#-.+! -00%3.'-%05! 9(-#(! &)):&! '%! -0#$).&)!
%7$! &)0&)! %1! (.44-0)&&! .06! &)#7$-'/;! ! ?)! 4$%4%&)! '(.'! 0%'! %0+/! -&! &7#(! .0!
.44$%.#(! 4%&&-,+)5! ,7'! -'! (.&! )@-&')6! 1%$! '()! 4.&'! '(-$'/! /).$&;! A()! B.&C7)!
<.&)!%11)$&!'()!9%$+6!&%2)'(-0*!70-C7)D!#%24)'-'-3)0)&&!-0!&%+-6.$-'/;
!!!!! "'! '()! #%$)! %1! '()! B.&C7)! <.&)! -&! .! '$-83)#'%$! #%0#)4'7.+-=.'-%0! %1!
)0+-*(')02)0'5! '()! -067&'$-.+! $)3%+7'-%0! .'! '()! ,)*-00-0*! %1! '()! EF'(! <)0'7$/!
2.$:)6!)#%0%2-#!*$%9'(!.&!'()!&/0%0/2!1%$!4$%*$)&&!.06!9)+1.$);!G.')$!-0!
'()! #)0'7$/5! .0! -0#$).&-0*! &%#-.+! .9.$)0)&&! -0'$%67#)6! (72.0! 0))6&! .06!
#%2270.+!#%()&-%0!'%!'()!4$%*$)&&-3)!+)@-#%0;!!A(-&!#(.0*)!-0!#%0&#-%7&0)&&!
-0!'()!EFHI&!)03-$%02)0'.+!-&&7)&!,)#.2)!.!4$-0#-4.+!#%0#)$0!%1!47,+-#!.06!
-0')$0.'-%0.+!6)3)+%42)0'!%$*.0-=.'-%0&;!J0!.66-'-%0!'%!)#%0%2-#!*$%9'(!.06!
(72.0! 6)3)+%42)0'5! )03-$%02)0'.+! &7&'.-0.,-+-'/! ,)#.2)! .! :)/! .&4)#'! %1!
4$%*$)&&;!!A()!B.&C7)!<.&)!(%+-&'-#.++/!-0')*$.')&!'()&)!4$)3-%7&+/!&)4.$.')!
&4()$)&!-0'%!.!'$-4+)8()+-@!%1!&7&'.-0.,+)!(72.0!6)3)+%42)0';
!!!!!!! A()!1%++%9-0*!B.&C7)!<.&)!9-++!4$)&)0'!'()!&'%$/!%1!.!$)&-+-)0'!&%#-)'/K&!
&7##)&&17+! '$.0&1%$2.'-%0! %1! .0! %,&%+)')! -067&'$-.+! &'$7#'7$)! -0'%! %0)! %1! '()!
9%$+6K&!+).6-0*!)#%0%2-)&5!6)&4-')!'()!+)*.#/!%1!.7'(%$-'.$-.0!*%3)$02)0'!.06!
%08*%-0*!4%+-'-#.+!3-%+)0#);!!A()!B.&C7)!<.&)!-&!'()!$)&7+'!%1!'()!-24+)2)0'.'-%0!
%1!.!&%#-%84%+-'-#.+8+)*.+8)#%0%2-#!2%6)+!,7-+'!%0!'($))!4$-0#-4+)&D!'()!)'(-#.+!
4$-0#-4+)L!'()!6)2%#$.'-#!4$-0#-4+)L!.06!'()!&7&'.-0.,+)!(72.0!6)3)+%42)0'!
4$-0#-4+);! A()&)! '($))! 4$-0#-4+)&! (.3)! *7-6)6! .++! '()! -0-'-.'-3)&! '(.'! (.3)!
,))0!#.$$-)6!%7'!&-0#)!'()!$)#%3)$/!%1!B.&C7)!&)+18*%3)$02)0'!-0!EFMI5!.06!
8. !"#$%&'()#$*&'#
+$,"&-#.$/0'012
! "#$!%&%'%('%)$*!+&,$-'(.$&!'/!(0#%$)$!1+*'(%&(23$!4+5(&!6$)$3/75$&'!
,$'(%3$,! %&! '#%*! ,/0+5$&'! /&38! 5(.$! *$&*$! %9! '#$8! (-$! (00/57(&%$,! 28! (!
0/57-$#$&*%)$! )%*%/&:! ! ;! *#(-$,! )%*%/&! /9! ,$)$3/75$&'! <%'#%&! '#$! =(*>+$!
?/+&'-8!#(*!2$$&!@+%,$,!28!'#-$$!7-%&0%73$*:!"#$!,$5/0-('%0!7-%&0%73$*!#(*!
-$>+%-$,!'#$!0/&,+0'!/9!,$)$3/75$&'!'/!2$!(!7-/A$0'!0/&,+0'$,!<%'#!5(B%5+5!
7(-'%0%7('%/&!28!(33!5$52$-*!/9!*/0%$'8C!,$)$3/75$&'!28!'#$!7$/73$:!!"#$!$'#%0(3!
7-%&0%73$! #(*! -$>+%-$,! '#$*$! $99/-'*! '/! 2$! 9/0+*$,! 28! '#$! @/(3*! /9! +&%)$-*(3!
-%@#'*D!*/0%(3!A+*'%0$! (&,!7$(0$9+3! 0/$B%*'$&0$C!,$)$3/75$&'! 9/-! '#$!7$/73$:! !
"#-/+@#!(!'-%E)$0'/-!7-%&0%73$!/9!*+*'(%&(23$!#+5(&!,$)$3/75$&'!'#$!=(*>+$!
?/+&'-8!#(*!*/+@#'!'/!5(B%5%F$!'#$!$&,/@$&/+*!0(7(0%'8!/9!%'*!7/7+3('%/&!'/!
%&&/)('$C!,$)$3/75$&'!/9!'#$!7$/73$:
$ $$$$$$$$$$$$+$31)24-56
$ $ $$$$$&4$7#&3#8$
$ $$$$$$$$$$$$$$$7-1).$19$04'$-114'$&2.$04'$4-&.04012'8$
$ $ $$$$$41:#-&24$&2.$-#'7#349):$41$.0;#-'0458
$ $ $$$$$"0<":5$7-1.)340;#8$
$ $ $$$$$="03"$31>7#4#'$)'02<$04'$7#17:#8$
$ $ $$$$$="1$)'#$4"#0-$3-#&40;045$&2.$4&?#$
$ $ $$$$$-#'712'0@0:045$91-$4"#0-$=1-?$$
$ $ $$$$$=04"02$4"#$9-&>#=1-?$19$'"&-#.$7-1A#34'8
$ $ $$$$$02$&2$17#2$&2.$024#-2&4012&:$'#4402<8$
$ $ $$$$$'130&::5$31"#'0;#8$
$ $ $$$$$')771-40;#$41$4"#$=1-:.B
! "#%*!5/*'!-$0$&'!%'$-('%/&!/9!'#$!*#(-$,!)%*%/&!9/-!'#$!=(*>+$!?/+&'-8!
-$7-$*$&'*!'#$!*8&'#$*%*!/9!*$)$-(3!7(-'%0%7('/-8!7-/0$**$*:!G&!HIIJ!(!*$-%$*!/9!
9/-+5*!(&,!</-.*#/7*!0/&'-%2+'$,!'/!'#$!=+*%&$**!?/57$'%'%)$&$**!(&,!1/0%(3!
G&&/)('%/&! K3(&! HIILEHIIM:! 6+-%&@! '#%*! *(5$! 7$-%/,! (&/'#$-! 7(-'%0%7('%/&!
7-/0$**! '//.! 73(0$! 0/&0$-&%&@! '#$! *'-('$@8! 9/-! *0%$&0$! (&,! '$0#&/3/@8:!
N&0$! (3%@&$,! <%'#! '#$! 0/57$'%'%)$&$**! *'-('$@8D! '#%*! 2$0(5$! '#$! 10%$&0$D!
"$0#&/3/@8!(&,!G&&/)('%/&!K3(&!HIOI:!!"#$*$!'</!73(&*!-$7-$*$&'!'#$!*/0%$'(3!
9/+&,('%/&*!'#('!'#$!PQ%*%/&!9/-!'#$!=(*>+$!?/+&'-8!HIORS!<(*!2+%3'!+7/&:
9. !"#$%&'()#$*&'#
!"+##$,-&-#./0$12#'
! "#$%&%! '(! )! *+),&%! -$*$./0! 1#*2)$/)'3&! 4#5)/! 6&-&3.75&/2! $/! 2+&!
8)*9#&!:.#/2,(!$*!&/);2&%!2+,.#<+!2+,&&!%$*2$/;2!7.3$;(!)=&*>!
! 6&-&3.75&/2!.?!2+&!8)*9#&!:.#/2,(!+)*!'&&/!%,$-&/!'(!)/!$/%#*2,$)3!
)/%!7,.%#;2$-&!&;./.5(@!!A+&!)=$*!.?!&;./.5$;!<,.B2+!+)*!'&&/!*#*2)$/&%!
'(!;./2$/#.#*!$//.-)2$./!)/%!)!;.55$25&/2!2.!;.57&2$2$-&/&**@!C-&,!2+&!7)*2!
2+,&&!%&;)%&*!2+&!8)*9#&!".-&,/5&/2!+)*!&/);2&%!*2,)2&<$;!&;./.5$;!73)/*!
2+)2!+)-&!*.#<+2!2.!$/2&<,)2&!2+&!8)*9#&!&;./.5(!$/2.!2+&!<3.')3!&;./.5(0!
)/%!7,.5.2&!2&;+/.3.<$;)3!%&-&3.75&/2!)/%!$//.-)2$./@
7,.D&;20!,&*7&;2?#3!.?!2+&!,$<+2*!.?!2+&!$/%$-$%#)3!)/%!)77,&;$)2$-&!.?!2+&!-)3#&!
&9#$2)'3&! <,.B2+0! ;./*2,#;2&%! '(! 7&.73&! ?.,! 2+&! 7&.73&@! ! E9#$2)'3&! <,.B2+!
$/%$;)2&%! '(! $/;,&)*&%! &9#)3$2(0! *.;$)3! &9#$3$',$#5! )/%! 7&,*./)3! ;#32#,)3!
%&-&3.75&/2@! F/! .,%&,! 2.! 5)G&! *.;$)3! 7,.<,&**! 2+&! 8)*9#&! ".-&,/5&/2!
! 6&-&3.75&/2! $/! 2+&! 8)*9#&! :.#/2,(! *&&G*! 2.! &/*#,&! 2+)2! *.;$)3!
)/%!&;./.5$;!);2$-$2$&*!),&!*#*2)$/)'3&0!)/%!%.!/.2!D&.7),%$H&!2+&!;)7);$2(!
.?! ?#2#,&! <&/&,)2$./*! 2.! 5&&2! 2+&$,! .B/! /&&%*@! A+&! 2+$,%! )=$*! .?! 1#*2)$/)'3&!
4#5)/!6&-&3.75&/2!7.3$;$&*!$/!2+&!8)*9#&!:.#/2,(!$*!?.;#*&%!'(!2+&!%&?&/*&!
.?!&/-$,./5&/2)3!*#*2)$/)'$3$2(!)/%!2+&!*2,#<<3&!2.!5$2$<)2&!;3$5)2&!;+)/<&@
! F/!2+&!?.33.B$/<!*&;2$./*!2+$*!%.;#5&/2!B$33!;./*$%&,!$/!<,&)2&,!%&2)$3!2+&!
)<&/2*0!*2,#;2#,&*!)/%!7.3$;$&*!.?!2+&*&!)=&*@!!I+$3*2!*2),2$/<!?,.5!2+&!+$*2.,$;!
,&;.-&,(! .?! 8)*9#&! *&3?J<.-&,/5&/2! $/! KLMN0! 2+&! %.;#5&/2! B$33! 7,$/;$7)33(!
?.;#*!./!2+&!7&,$.%!KLLMJONNM@!
10. !"#$#%&"'()*+),-.
/$)*#01")&#$
! "#! $%&'! ()*! +*,-.*+/! -0! 12(-#-3/! ()+-24)! ()*! 5(1(2(*! -0! 62*+#7,1!
*#189*:!()*!;1<=2*!>-2#(+/!(-!31?*!()*!,+7(7,19!,)-7,*<!()1(!917:!()*!0-2#:1(7-#<!
82(! 7#<@7+*:! 8/! ()*! @+-:2,(7.*! (+1:7(7-#! -0! ()*! ;1<=2*! @*-@9*A! (-! ,-337(! (-!
2#:*+<(1#:7#4! BC1@*(*+-! 1! (2<! C1@1(-<DA! 97(*+199/A! ,-889*+! (-! /-2+! <)-*<A! -+!
(+1#<97(*+1(*:A!<(7,?!(-!E)1(!/-2!?#-EA!E)7,)!8*,13*!()*!427:7#4!@+7#,7@9*!0-+!
*,-#-37,!:*.*9-@3*#(F!!
! "#! ()*! $%%'<! :/#137,! <-,7-G7#:2<(+719! @-97,7*<! E*+*! @2(! 7#! @91,*! (-!
B,-#(+-9!()*!E-+<(!*H,*<<*<!-0!()*!*,-#-37,!,/,9*ADI!82(!E7()7#!()*!0+13*E-+?!
-0! @2897,G@+7.1(*! @1+(#*+<)7@F! ! J)*! 7#:2<(+719! <*,(-+! 7<! ()*! *,-#-37,! 1#:!
<-,719!*#47#*!-0!()*!;1<=2*!K*-@9*A!E)7,)!,1#!-#9/!8*!<2<(17#*:!()+-24)!1!
,-337(3*#(!(-!()*7+!)231#!,1@7(19F!!L#!*,-#-3/!,1##-(!317#(17#!7(<!,-3@*(7(7.*!
*:4*!E7()-2(!<-,719!<-97:1+7(/A!82(!#-+!,1#!<-,719!<-97:1+7(/!8*!1,)7*.*:!E7()-2(!
()*!<2@@-+(!-0!1!,-3@*(7(7.*!*,-#-3/F
! !M7()!1:.1#,*<!7#!,-332#7,1(7-#!(*,)#-9-47*<!()*!E-+9:!)1<!8*,-3*!
()*!81<7<!-0!<-,7*(/F!!M7()-2(!9-<7#4!<74)(!-0!()*!@+*.7-2<!:*,1:*<!*H@*+7*#,*<A!
,1#!-#9/!317#(17#!7(N<!,-3@*(7(7.*!*:4*!8/!()*!*#:-4*#-2<!7##-.1(7.*!,1@1,7(/!
-0!7(<!@*-@9*F
! 5-9*9/! 8*,12<*! ()*! ;1<=2*! >-2#(+/! 9*1+#*:! (-! ,-3@*(*! 0+-3! ()*!
81<7<!-0!1!+*<797*#(!*,-#-37,!<(+2,(2+*!7#!()*!$%&'<A!E1<!7(!189*!(-!9*1+#A!1<!1!
E)-9*!<-,7*(/A!(-!,-3@*(*!1#:!,--@*+1(*!7#!()*!$%%'<F!!J)*<*!(E-!*9*3*#(<!
E*+*!02#:13*#(19!@+*+*=27<7(*<!(-!()*!;1<=2*!@1+1:743!-0!()*!O$<(!,*#(2+/A!
7##-.1(7-#!7#!,--@*+1(7-#F!J)*!*.-92(7-#!-0!()*!;1<=2*!>-2#(+/!-.*+!()*!@1<(!
()7+(/!/*1+<!@+-.7:*<!1#!*H13@9*!-0!()*!<-,719!1#:!*,-#-37,!(+1#<0-+31(7-#<!
#*,*<<1+/!(-!1,)7*.*!()*!-8P*,(7.*!-0!52<(17#189*!Q231#!R*.*9-@3*#(F
11. !"#$#%&"'()*+),-.
/,+*$&$-')#'0#%1,),
! "#! #$%! &%'())()'! *+! #$%! ,-./0! #$%! 12034%! %5*)*67! +*4)8! (#0%9+!
(66%:0%8!()!2!;:*+*4)8!5:(0(0<!0%:(*4097!$2:6%8!&7!#$%!09*=()'!8*=)!*+!#$%!
=*:98!%5*)*67!2)8!8(0#*:#(*)0!*+!#$%!;:%>(*40!8%528%0?!@)!288(#(*)!#*!52;(#29!
#$%! 62()0#27! ()840#:(29! 0%5#*:0! *+! (:*)<! 0#%%9<! 0$(;&4(98()'<! 2)8! 625$()%A
#**90! =%:%! ()! 8%59()%?! B$%! ':*=#$! *+! ':*00! 8*6%0#(5! ;:*845#! =20! )%'2#(>%<!
4)%6;9*76%)#! :2#%0! =%:%! %C#:%6%97! $('$<! 2)8! &*#$! #$%! ;4&9(5! 2)8! ;:(>2#%!
0%5#*:0!$28!)%'9%5#%8!#$%!D%7!()840#:(%0!*+!#$%!5*4)#:7!+*:!62)7!7%2:0?!B$%!
)%=! 12034%! E*>%:)6%)#! %0#2&9(0$%8! #$:%%! 62F*:! *&F%5#(>%0G! #*! :%'2()! #$%!
;%*;9%H0!#:40#G!#*!;:%;2:%!#$%!5*4)#:7!+*:!(#0!()#%':2#(*)!()#*!#$%!I4:*;%2)!J)(*)!
KIJLG!2)8!2&*>%!299!#*!5*)845#!()840#:(29!:%0#:45#4:()'?
()>*9>%6%)#?! "! 8(0#()5#! ()840#:(29! ;*9(57! *+! 6(5:*%5*)*6(5! *:(%)#2#(*)! =20!
+*:6492#%8! #*! :%F4>%)2#%! %C(0#()'! 52;25(#(%0! #$:*4'$! #$%! ()#:*845#(*)! *+! )%=!
D)*=9%8'%!2)8!)%=!#%5$)*9*'(%0?!"!:2)'%!*+!;:(>2#%A;4&9(5!;2:#)%:0$(;0!2)8!
;*9(57!#**90!=%:%!%0#2&9(0$%8<!()5948()'M!
Basquexport<!#*!;:*6*#%!#$%!%C;*:#0!2)8!#$%!()#%:)2#(*)29(N2#(*)!*+!12034%!
5*6;2)(%0?!
The Technology Park of Zamudio
2)8!#$%!#:2)0+%:!2)8!8(00%6()2#(*)!*+!#%5$)*9*'7!2)8!())*>2#(*)?
Society for Industrial Promotion and Reconversion<! 2)! ()0#(#4#(*)!
0;%5(29(N()'!()!#$%!;:*6*#(*)!2)8!200%006%)#!*+!#2D%*>%:0<!6%:'%:0<!2)8!#$%!
2534(0(#(*)!*+!)%=!#%5$)*9*'7?
The Plan for Exceptional Relaunching<!#*!;:*6*#%!#$%!8%>%9*;6%)#!*+!06299!
2)8!6%8(46A0(N%8!&40()%00%0?!
Euskadi Europa<!#*!;:%;2:%!#$%!5*4)#:7!+*:!()#%':2#(*)!()#*!#$%!I4:*;%2)!J)(*)?!
! B$%! 12034%! ;2:28('6! *+! #$%! ,-./0! =20! *)%! *+! :%5*)>%:0(*)! 2)8!
:%0#:45#4:()'<!2!;%:(*8!*+!25#(>%!()840#:(29!2)8!0*5(29!;*9(5(%0!#$2#!%)2&9%8!#$%!
12034%!O*4)#:7!#*!9%2:)!#*!5*6;%#%!20!2)!%5*)*67!2)8!20!2!;%*;9%?!B$(0!;$20%!
92(8!#$%!+*4)82#(*)0!+*:!8%>%9*;()'!2!5*6;%#(#(>%!2)8!$('$97!%8452#%8!0*5(%#7<!
=(#$*4#!=$(5$!(#!=*498!$2>%!&%%)!(6;*00(&9%!#*!#25D9%!#$%!04&0%34%)#!0#2'%0?
12. !"#$#%&"'()*+),-.
/#%0,)&)&#$'&$'/##0,*+)&#$
4
!"#$%&#'(()*#+&,-+.#-,#$%&#/0-"-.10#23+&&.&"$ #5&$6&&"#$%N*9:&#
;-:"$+<#8"=#$%&#>?8"1*%#*$8$&#&"85@&=#8"#&A&"#3+&8$&+#@&A&@#-,#*&@,B3-A&+".&"$C# #
D%1*# 68*# .8"1,&*$&=# 1"# 8# 0-:"$+<61=&# *$+8$&3<# ,-0:*&=# -"# 1"A&*$.&"$# 1"#
%&8@$%08+&E# *-018@# *&+A10&*E# 1",+8*$+:0$:+&*E# 8"=# ?:5@10# 6-+F*C# # D%&# %8@@.8+F#
-,#$%1*#*$+8$&3<#68*#+&B1"=:*$+18@1G8$1-"#?-@101&*#@1"F&=#$-#*-018@#?-@101&*E#6%10%#
+&A1$8@1G&=#8+&8*#6%&+"=:*$+18@#=1*.8"$@1"3#%8=#+&*:@$&=#1"#*-01-B&0-"-.10#
*$83"8$1-"C#H-$85@<E#$%&#I@8"#,-+#/J$+8-+=1"8+<#!"A&*$.&"$#$-#8$$+80$E#=&A&@-?#
8"=#+&$81"#1"A&*$.&"$*#B#*:0%#8*#$%&#K:33&"%&1.#L:*&:.#B#$%8$#6-:@=#?@80&#
$%N*9:&#;-:"$+<#-"#$%-+@=#*$83&C#D%&*&#?-@10<#1"*$+:.&"$*#&*$85@1*%&=#
80%1&A&# 8# *:??-+$1A&# 8"=# ?+-*?&+-:*# *-01&$<M# $%&# 5&=+-0F# -,# $%&# 78*9:&#
;-:"$+<N*#0-.?&$1$1A=A8"$83&*C#
#
# O&A&@-?.&"$# 1"# $%&# 78*9:&# ;-:"$+<# %8*# 5&&"# @&=# 5<# 8# *$+8$&310#
?:5@10B?+1A8$&# 8@@18"0&M# :"=&+*$--=# 8*# 1"A&*$.&"$# 5<# $%&#P ?+1A8$&# *&0$-+# 1"#
# -,# $%&# &0-"-.<C##
Q
!"# $%&# '(()*E# $%&# 78*9:&# &0-"-.<
(
-,#0@:*$&+* E#,801@1$8$&=#5<#"&$6-+F*#-,#A&*$&=#*$8F&%-@=&+*C#D%1*#$+8"*1$1-"#68*#
%13%@<#0-"$&"$1-:*C#RA&+#$%&#?8*$#=&08=#%13%#@&A&@#-,#3-A&+".&"$#1"$&+A&"$1-"#
1"#1"=:*$+<#%8=#@&=#$-#?+1A8$&#*&0$-+#=&?&"=&"0&#-"#$%-A&+".&"$#61$%#+&38+=#
$-#*$+8$&310#=&01*1-"B.8F1"3C#D%&#+&58@8"01"3#-,#$%&#?+1A8$&B?:5@10#+&@8$1-"*%1?#
68*#&**&"$18@#$-#,-*$&+#8#0-.?&$1$1A&#&0-"-.<C
# !"#-+=&+#$-#*:*$81"#$%N*9:&#;-:"$+<N*#0-..1$.&"$#$-#0-.?&$1$1-"#
')
1"A&*$.&"$*#6&+&#.8="#*01&"0"=#$&0%"-@-3< E#$%"$&+"8$1-"8@1G8$1-"#-,#
$%N*9:&#&0-"-.<E#8"=#$-#?+-.-$&#:"1A&+*8@#*$8"=8+=*#-,#9:8@1$<C#!"#'((S#
$%&# 78*9:&# K-A&+".&"$# *&$# :?# $%&# 78*9:&# T:8@1$<# U-:"=8$1-"E# /V>W2X!DE#
$-# ?+-.-$&# 9:8@1$<E# 1""-A8$1-"# 8"=# &J0&@@&"0&# $%+-:3%-:$# *-01&$<C# !"# '((Y#
''
78*9:&#;-:"$+<N*#1"$&+"8$1-"8@#1.83& C#
13. !"#$#%&"'()*+),-.
/$$#0+)&#$'&$'1##2,*+)&#$
! "#$!%&'()$!*$+,-$!#&.$!-+/0!1$$/!&''+23&4$5!634#!&/!$/47$,7$/$)73&-!
',37348! 6#32#! #&'! 1$$/! 4#$! 1&'3'! +9! 4#$37! #3'4+7:! +9! 07+64#! &/5! 5$.$-+,;$/4<!
!
=)73/0!4#$!-&4$!>?4#!2$/4)7:!4#$!%&'()$!@+)/47:!$'4&1-3'#$5!34'!7$,)4&43+/!&'!
&!,7+.35$7!+9!#30#!()&-34:!,7+5)24'<!A++4$5!3/!4#3'!47&5343+/8!4#$!%&'()$!@+)/47:!
+9!4#$!9+--+63/0!&/&-:'3'!63--!1$!&3;$5!&4!4#$!3/'434)43+/'!&/5!+70&/3B&43+/'!4#&4!
E>
537$24-:!4&C$!,&74!3/!4#$!7$'$&72#!&/5!$D,-+7&43+/!,7+2$''$' <!!F!17+&5$7!.3'3+/!
EG
63--!5$4&3-!4#$!7$-$.&/2$!+9!+4#$7!$-$;$/4'!+9!'+23$4:!4+!4#$!3//+.&43+/!,7+2$'' <
! H/! >??E8! 4#$! %&'()$! I+.$7/;$/4! 7$2+0/3'$5! 4#$! /$$5! 4+! +/2$!
&0&3/!47&/'9+7;8!4+!;+.$!&6&:!97+;!&!;+5$-!5$,$/5$/4!+/!&5+,43/0!9+7$30/!
EJ
4$2#/+-+0:! &/5! 2+'4! &5.&/4&0$ <! "#$! 2#&--$/0$! +9! $/5+0$/+)'! '+23&-8!
$2+/+;32! 5$.$-+,;$/48! &/5! $''$/43&-! 4+! ;&3/4&3/! &/5! 3;,7+.$! 4#$! '+23&-!
EK
6$-9&7$!':'4$;
#&'! +70&/3'$5! 34'! '+23+L$2+/+;32! 9)/243+/'! &7+)/5! 4#$! 97&;$6+7C! +9! &/!
3//+.&43+/!':'4$;8!6#32#!3'!,+6$7$5!1:!4#$!#);&/!2&,34&-!+9!34'!,$+,-$<
! "#$! 3//+.&43+/! ':'4$;! 3'! 1&'$5! ),+/! 4#$! 2+/2$,4)&-3B&43+/! +9!
C/+6-$50$! 634#! &! -39$! +9! 34'! +6/8! 6#32#! 3'! 2+/'47)24$5! 3/! &/! &22);)-&43.$!
&/5! ':/$70$432! ,7+2$''M! &! '$-9L')'4&3/3/0! 2:2-$! +9! $5)2&43+/8! 7$'$&72#8! &/5!
3//+.&43+/<! "#$! 3//+.&43+/! ':'4$;! #&'! 1$$/! 1)3-4! ),+/! 4#7$$! ,73/23,-$'! +9!
$.+-)43+/&7:!2#&/0$M
@#&/0$! 3'! &! ':'4$;32! ,#$/+;$/+/! &/5! 7$()37$'! )'! 4+! /+4! +/-:! 1&7$! 3/!
;3/5!4#$!1$#&.3+7!+9!$&2#!3/'434)43+/!3/!4#$!':'4$;8!1)4!&-'+!4#$!2+/4$/4!+9!
4#$!7$-&43+/'#3,'!1$46$$/!3/'434)43+/'<!!
@#&/0$!;&:!1$!2&4&-:B$5!1:!;)-43,-$!2+0/343.$!'+)72$'8!7$()373/0!)'!4+!
;)-43,-:!4#$!+,,+74)/34:!9+7!3/4$7L3/'434)43+/!3/4$7&243+/'<
!
14. ! "#$!%&'($)*'+,!-.!+#$!/0*12$!3-2&+),!4%56789%:!;<0,*!0!=$,!)-<$!'&!
;)->-+'&?!+#$!@0*'A!)$*$0)A#!+#0+!*+'>2<0+$*!'&&-(0+'-&B!!"#)-2?#!+#$!*2;;-)+!
-.!+#$!/0*12$!C-($)&>$&+!+#$!%&'($)*'+,D*!)$*$0)A#!'&!+#$!0)$0!-.!8E;$)'>$&+0<!
NH
FA'$&A$!?)$G!HIJ!.)->!IKKI!L!IKKM B!!O2)+#$)>-)$P!+#$!/0*12$!C-($)&>$&+
NQ
-.! @'-<-?,P! >0+$)'0<! ;#,*'A*P! 0;;<'$R! >0+#$>0+'A*P! 0&R! S$2)-*A'$&A$B! "#$!
NM
! +-!
! "#)$$! '&*+'+2+'-&*! #0($! +0=$&! <$0R$)*#';! )-<$*! '&! +#$! &$G! *+)0+$?,! +-!
A2<+'(0+$P!A0)$!.-)!0&R!0++)0A+!+#$!&$A$**0),!#2>0&!A0;'+0<B!!
Basque Science, Technology and Innovation BoardT! +#$! #'?#$*+! @-R,! -.!
;0)+'A';0+'-&P!0**$**>$&+!0&R!<$0R$)*#';!-&!+#$!;-<'A'$*!+#0+!)$(-<($!0)-2&R!
*A'$&A$P!+$A#&-<-?,P!)$*$0)A#!0&R!'&&-(0+'-&B!
Ikerbasque !
0++)0A+!'&+$)&0+'-&0<!$E;$)+*!+-!A0)),!-2+!+#$')!)$*$0)A#!'&!+#$!)$*$0)A#!A$&+$)*B
Innobasque!U!/0*12$!V&&-(0+'-&!W?$&A,T!+-!A--)R'&0+$!0&R!'>;$<!'&&-(0+'-&!
'&! +#$! /0*12$! 3-2&+),! '&! 0<<! 0)$0*P! G'+#! +#$! 0'>! -.! .-*+$)'&?! $&+)$;)$&$2)'0<!
*;')'+!0&R!A)$0+'('+,B
! V&&-(0+'-&! '*! &-+! *$$&! 0*! <'>'+$R! +-! +#$! G-)<R! -.! @2*'&$**P! 0&R!
$&A-2)0?$R! +#)-2?#-2+! *-A'$+,P! )$0A#'&?! A2<+2)$P! 0)+'*+'A! 0&R! A)$0+'($!
'&R2*+)'$*P!$R2A0+'-&P!#$0<+#P!?-($)&0&A$!0&R!;2@<'A!0R>'&'*+)0+'-&B!W!)0&?$!-.!
'&'+'0+'($*!#0*!*-2?#+!+-!'&*+'<<!'&&-(0+'-&!'&+-!+#$!/0*12$!*$&*$!-.!*$<.L'R$&+'+,B!
!
"#$!/0*12$!C-($)&>$&+!0&&-2&A$R!IKKM!0*!+#$!X"#$!Y$0)!-.!V&&-(0+'-&!'&!
*-A'0<!0&R!;-<'+'A0<!-)?0&'Z0+'-&*!+#)-2?#-2+!+#$!A-2&+),B!!
! V&! +#$! /0*12$! 3-2&+),! '&&-(0+'-&! #0*! @$A->$! +#$! >-+'(0+'-&! .-)! 0&!
0<<!-.!*-A'$+,!0;;)-0A#!+-!*2*+0'&0@<$!#2>0&!R$($<-;>$&+B!!O)->!+#'*!;-'&+!-.!
('$GP!0!A-2&+),!+#0+!'&A-);-)0+$*!'&&-(0+'-&!0&R!#2>0&'*>!-.!'+*!-)?0&'Z0+'-&*!
'&+-!'+*!($),!'R$&+'+,!#0*!0!;-G$).2<!<$($)!.-)!+)0&*.-)>0+'-&B!
15. !"#$%&'(")*+$",'!-.%-*/0
1,-."23#-$",
!""#$%&!#"'!('%')*!&!)%+',%)&#*'#,'-)#"#.!)'/-$-+#0.-"&1'%"/'%'2%(!)')#*"-*(&#"-'
&#'.%!"&%!"'%"/'!.0*#$-'&3-'(4(&-.'#,'(#)!%+'5-+,%*-6''73-',8"/%.-"&%+'9-4'&#'
&3-'-)#"#.!)'%"/'(#)!%+'&*%"(,#*.%&!#"'#,'&3-':%(;8-'<#8"&*4'3%('2--"'&3-'
!"&-"&!#"%+' %"/' 0*#=*-((!$-' /-$-+#0.-"&' #,' !&(' 38.%"' )%0!&%+6' ' 73-*-,#*-1' &#'
%)3!-$-'(8(&%!"%2+-'38.%"'/-$-+#0.-"&1'%+#"=(!/-'%"'-)#"#.!)'(&*%&-=41'!&'
!('-((-"&!%+'&#')#..!&'&#'%'(#)!%+')#3-(!#"'(&*%&-=46
' 73-'%!.'#,'%'(#)!%+')#3-(!#"'(&*%&-=4'!('&#'-"(8*-'&3-'!"/!$!/8%+'*!=3&'
#,'%++'0-#0+-'&#')%**4'#8&'%"'!"/-0-"/-"&'+!,-6'>('#00#(-/'&#'0%((!$-'0#+!)!-('
&3%&' !"$!&-' )3*#"!)' (!&8%&!#"(' #,' (#)!%+' .%*=!"%+!(%&!#"1' &3-' :%(;8-' <#8"&*4'
3%('/-$-+#0-/'%"'%)&!$-'(&*%&-=4'&3%&'3%('2--"'=8!/-/'24'&3-'0*!")!0+-('#,'
)#3-(!#"1'-;8%+!&4'%"/'!"&-=*%&!#"6''>('5!++'2-'-?%.!"-/'!"'&3-',#++#5!"='(-)&!#"1'
&3!(' (&*%&-=4' 3%(' 2--"' ,#)8(-/' 24' ;8%+!&4' #,' -.0+#4.-"&' %"/' -/8)%&!#"1'
-,,-)&!$-'0*#$!(!#"'#,'3-%+&3'(-*$!)-(1'(#)!%+'!")+8(!#"1'=-"/-*'-;8%+!&41'%"/'%'
:%(;8-')8+&8*%+'!/-"&!&4'#0-"'&#'&3-'5#*+/6'
' @#5-$-*1' (8)3' 0*#$!(!#"(' )%""#&' 2-' )#..!&&-/' 5!&3#8&' *-(&*%!"&6'
!"(&*8.-"&'!"'%&&%!"!"='A8(&%!"%2+-'@8.%"'B-$-+#0.-"&6'73-',%!+8*-'&#'%00+4'
(8)3'0*!")!0+-('&#'(#)!%+'0#+!)4'!('#2$!#8('53-"'5-'+##9'%&'&3-'(#)!#C-)#"#.!)'
0*-/!)%.-"&' #,' )#8"&*!-(' &3%&' !="#*-/' <#",8)!8(D' %/$!)-1' E53-"' 0*#(0-*!&4'
%**!$-(1'/#'"#&'8(-'%++'#,'!&6F
' G!"%++41' &3-' )#..!&.-"&' &#' %' /4"%.!)' %"/' =-"-*%&!$-' )#")-0&!#"'
#,' )8+&8*-' 3%(' 5!&3#8&' %' /#82&' 2--"' 2-3!"/' &3-' +-$-+' #,' (#)!#C-)#"#.!)'
/-$-+#0.-"&'&3%&'&3-':%(;8-'<#8"&*4'3%('*-%)3-/'!"'&3-'+%(&'&3*--'/-)%/-(6' '
<8+&8*-' )#"&*!28&-(' &#' !"/!$!/8%+' -"*!)3.-"&1' %"/' -")#8*%=-(' !""#$%&!$-'
-)#"#.!)'/-$-+#0.-"&6''
"#5'(--9('&#'0*#H-)&'!&('#5"'0-*(#"%+!&4'%"/'!/-"&!&41'"#&'%&')#",*#"&%&!#"'5!&3'
#&3-*(1' 28&' )#-?!(&!"=1' ,*!-"/+41' 5-+)#.!"=1' -"*!)3-/' 24' #&3-*' !/-"&!&!-(' %"/'
)8+&8*-(6
16. !"#$%&'(")*+$",'!-.%-*/0
12#*&&*,#*'3.%$,$,/4'56%7-$,/'7*"7&*'-"'%'/&"8%&$+*6'9".&6
! "#$$%&$'(&! &#! )! $#*'+! #,! *'-'+#.$'(&! /)0'*! #(! %((#-)&%#(! )(*!
*%,,'1'(&%)&%#(! 1'23%1'0! &4'! %(&'(0%-'! 30'! )(*! 3.*)&%(5! #,! $)&'1%)+! )(*!
43$)(! 1'0#316'07! 84'! 9)023'! "#3(&1:! 4)0! $)*'! &4'! 23)+%&:! #,! 6#$.3+0#1:!
'*36)&%#(;! #663.)&%#()+! )(*! 3(%-'10%&:! &1)%(%(5! )! .1%#1%&:<! 0#! )0! &#! .1#*36'!
61')&%-';!'(&1'.1'('31%)+!.'#.+'!)/+'!&#!#.'1)&'!%(!)!5+#/)+%0'*!=#1+*7!>(!&4'!
?@0&!6'(&31:!.'#.+'!)(*!&4'%1!'*36)&%#(!)1'!&4'!/)0%6!6).%&)+!#,!)!()&%#(7
! A31%(5! &4'! ')1+:! ?BBB0! &4'! ,#++#=%(5! .1%(6%.+'0! ='1'! '0&)/+%04'*! &#!
.1#$#&'!23)+%&:!)(*!%((#-)&%#(!%(!&4'!6#$.3+0#1:!'*36)&%#(!0:0&'$C
A school for everyone! D! &4'! 6#(6'.&! #,! )(! %(6+30%-'! '*36)&%#(! .1#6'00!
)&&'(&%-'! &#! &4'! (''*0! #,! 0&3*'(&0! &4)&! '$/1)6'0! &4'%1! 63+&31)+! )(*! 0#6%)+!
*%-'10%&:;!)(*!.1#$#&'0!5'(*'1!'23)+%&:7
A better school!D!%(-'0&$'(&!%(!&4'!+')*'104%.!)(*!$)()5'$'(&!#,!'*36)&%#(!
&#!.1#$#&'!23)+%&:!#,!+')1(%(5;!43$)(!1%54&0!)(*!.')6',3+!6#'E%0&'(6'7!
A school for the 21st century!D!&4'!%(&'51)&%#(!#,!$3+&%F+%(53)+%0$;!%(,#1$)&%#(!
'*36)&%#(;!)(*!030&)%()/+'!*'-'+#.$'(&!%(&#!&4'!+')1(%(5!'(-%1#($'(&7
! >(!@GGH@G!)(*!?BBI?B!&4'!9)023'!"#3(&1:!+)3(64'*!.+)(0!&#!/1')J!&4'!
6#(6'.&!#,!&'1$%()+!'*36)&%#(!,#++#='*!/:!)!0'.)1)&'!.1#6'00!#,!'$.+#:$'(&7! !
>(0&')*;!#663.)&%#()+!&1)%(%(5!%0!6##1*%()&'*!=%&4!&4'!(''*0!#,!&4'!'$.+#:'1;!
)(*!4)0!/''(!%(&'51)&'*!%(&#!&4'!=#1J%(5!'(-%1#($'(&!)0!)(!#(F5#%(5;!+%,'F+#(5!
.1#6'007
!!!!!! >(! @GGK?@! )(*! ?BBI??;! &4'! 9)023'! L#-'1($'(&! .)00'*! +'5%0+)&%#(!
&#! .1#$#&'! 23)+%&:! %(! 4%54'1! '*36)&%#(;! )(*! '0&)/+%04! )! 0&1)&'5%6! .1#6'00!
#,!)*).&)&%#(!&#!/1%(5!&4'!3(%-'10%&%'0!#,!&4'!9)023'!"#3(&1:!%(!+%('!=%&4!&4'!
1'23%1'$'(&0!#,!&4'!9#+#5()!0:0&'$7!
!!!!!! 8#! '()/+'! )! *:()$%6;! '*36)&'*! .#.3+)&%#(! 0:0&'$0! #,! &1)%(%(5! )(*!
+')1(%(5!04#3+*!)*).&!&4'$0'+-'0!&#!$3+&%.+:!&4'!.#%(&0!#,!)66'00!&#!'*36)&%#(;!
)(*!/1#)*'(!&4'!06#.'!#,!.)1&%6%.)&%#(7
17. !"#$%&'(")*+$",'!-.%-*/0
123."4*2*,-'"5')*%&-)'%,6'-)*'#"".6$,%-$",''
"5'-)*'+"#$"7)*%&-)'%.*%
!"#$ %&"!'!"!(#$ ")*%+,#$ "-($ )./(&"!'($ )0$ !1&+(%#!12$ "-($ 3(%+#$ )0$ 4!'!12$ 0+(($ 0+)5$
#6#"%!1%.4($#3#"(57
8%#96($:(%4"-$;4%1$<==<><=?=<@$%1,$"-($A"+%"(2!&$;4%1$0)+$A)&!)>-(%4"-$B%+($
<==C><==DE
F('(4)G$ "%+2("#$ %1,$ #"+%"(2!(#$ )0$ "-($ :(%4"-$ ;4%1$ <==<><=?=$ %"$ %1$
$
!1,!'!,6%4H$&)5561!"3$%1,$!1"(+>#(&")+!%4$4('(47$
I6%+%1"(($ %&&(##!.!4!"3$ ")$ %$ 96%4!"3$ -(%4"-&%+($ "-+)62-$ &)1"+%&"!12$$
B)1"+!.6"($ ")$ "-($ ,('(4)G5(1"$ )0$ "-($ A)&!)>:(%4"-$ J+(%$ !1$ &)>)+,!1%"!)1$
*!"-$"-($A)&!%4$A(+'!&(#H$"-($;+)'!1&!%4$B)61&!4#$%1,$"-($K)*1$B)61&!4#7$
L),(+1!M($ %1,$ %,%G"$ N#%O!,("M%$ .3$ !5G+)'!12$ "-($ #)&!%4$ %1,$ -(%4"-$
&%+($!10+%#"+6&"6+($1(&(##%+3$")$5(("$"-($1(*$,(5%1,#$G4%&(,$)1$"-(#($ $
#(+'!&(#7$
J&"!'(43$ G%+"!&!G%"($ !1$ "-($ P6#O%,!$ ;4%1$ 0)+$ "-($ Q10)+5%"!)1$ A)&!("3$ .3$
$
#3#"(5#7
B)1"+!.6"($ ")$ "-($ 2(1(+%"!)1$ %1,$ %GG4!&%"!)1$ )0$ +(#(%+&-H$ ,('(4)G5(1"H$
%1,$!11)'%"!)1$!1$"-($8%#96($;6.4!&$:(%4"-$A3#"(57
$ K-(#($2)%4#$#((O$")$5(("$"-($,(5)2+%G-!&$&-%44(12(#$)0$%1$%2(!12$
+(4('%1"$ G+)0(##!)1%4#$ 56#"$ 5(("$ "-($ 2+)*!12$ ,(5%1,$ 0)+$ #)&!%4$ %1,$ -(%4"-$
%44)&%"!)1$)0$"-(#($%##("#7$:)*('(+H$!"$56#"$1)"$.($0)+2)""(1$"-%"$"-($G+)'!#!)1$
)0$61!'(+#%4$-(%4"-&%+($!#$%1$(##(1"!%4$&)5G)1(1"$)0$%1$!1&46#!'($#)&!("3H$*-!&-$
(1%.4(#$%44$)0$!"#$&!"!M(1#$")$"%O($%1$%&"!'($+)4($!1$"-($&)55!"5(1"$")$#6#"%!1%.4($
-65%1$,('(4)G5(1"7
18. !"#$%&'(")*+$",'!-.%-*/0
! "#$!$%&'()&*(+,!+-!.+/$%*0!&,'!1+)(+2$)+,+3()!$4)561(+,!#&1!7$$,!&!
.%(3&%0!8+&5!+-!*#$!9&1:6$!;+6,*%0!1(,)$!*#$!%$)+/$%0!+-!<6*+,+30=!!>,(*(&550!
*#$1$!(116$1!?$%$!)+,-%+,*$'!*#%+68#!*#$!>,*$8%&*$'!@5&,!-+%!*#$!A(8#*!<8&(,1*!
@+/$%*0!(,!BCDCE!&,'!.+5()($1!.%+3+*(,8!1+)(&5!(,)561(+,!(,!*#$!BCCF1=!!G$*&(5$'!
7$5+?E! *#$! .+5()($1! +-! *#$! HFFF1! ?$%$! -+)61$'! 70! *#$! ,$$'! *+! 3(,(3(I$! !
,+,2.&%*()(.&*(+,! (,! *#$! 1+)(&5E! $)+,+3()E! &,'! )65*6%&5! .%+'6)*(/$! .%+)$11$1!
*#&*!16..+%*!161*&(,&75$!#63&,!'$/$5+.3$,*=
Quality of Employment:!!"#$!9&1:6$!;+6,*%0!#&1!.&11$'!*#%$$!>,1*(*6*(+,&5!
HK
J3.5+03$,*!@5&,1
&55! L+7! 1$$M$%1E! (,)56'(,8! 3&%8(,&5(I$'! 1$83$,*1! +-! *#$! .+.65&*(+,! &,'! *#$!
)#%+,()&550!6,$3.5+0$'=
HN
Integration of immigrant population: "?+!9&1:6$!>33(8%&*(+,!@5&,1 !?$%$!
'$1(8,$'! *+! (,*%+'6)$! *#$! %$&5(*0! +-! (33(8%&*(+,! (,*+! *#$! '&02*+2'&0! *&1M1! +-!
.675()! &'3(,(1*%&*(+,=! "#$1$! .+5()($1! #&/$! 7$$,! 86('$'! 70! .%(,)(.5$1! +-!
$:6&5(*0E!.&%*()(.&*(+,E!.675()!%$1.+,1(7(5(*0!&,'!)+2%$1.+,1(7(5(*0=!!
HP
Support for families:!O$8(15&*(/$!*++51 ! #&/$!7$$,!'$/(1$'!*+!-+1*$%!%$1.$)*!
-+%! *#$! '(/$%1(*0! +-! *#$! -&3(50E! &,'! .%+*$)*! *#$! %(8#*1! +-! &55! -&3(50! 3$37$%1=!
Q+*&750E! *&M(,8! (,*+! &))+6,*! *#$! 1.$)(&5! )#&%&)*$%(1*()1! &,'! 5$/$5! +-! ,$$'!
+-! 7+*#! 5&%8$! &,'! 1(,85$! .&%$,*! -&3(5($1=! ! @%$/$,*(+,! .+5()($1! #&/$! 7$$,!
*%&(,(,8!*+!$,#&,)$'!.%+*$)*(+,!-+%!*#$!/()*(31!+-!'+3$1*()!/(+5$,)$=
Reconciling work and family life:!"#$1$!-&3(50!.5&,1!&51+!1$$M!*+!%$3+/$!*#$!
7&%%($%1! *+! $3.5+03$,*! &%(1(,8! -%+3! .&%$,*#++'E! &,'! 1(365*&,$+6150! )+%%$)*!
*#$! 5(3(*&*(+,1! *#&*! ?+%M(,8! 5(-$! (3.+1$1! +,! -&3(50! 5(-$=! R$&16%$1! (,)56'$! &!
?#+!*&M$!5$&/$!+%!%$'6)*(+,!(,!*#$(%!#+6%1!*+!)&%$!-+%!&'65*!+%!(,-&,*!'$.$,'$,*1=
Social focus of housing policy:! "#$! O&,'! &,'! S%7&,! @5&,,(,8! <)*HT! #&1!
7$$,!86('$'!70!&,!+/$%%('(,8!.#(5+1+.#0!+-!&))+33+'&*(+,!&1!&!7&1()!,$$'E!
:6&5(*0E!161*&(,&7(5(*0E!1&-$*0!&,'!(,,+/&*(+,=
19. !"#$%&'(")*+$",'!-.%-*/0
123%&$-0'4*-5**,'6*,'7'8"9*,:'
;)*'<"&$-$#%&'<."=*#-'>".'-)*'?@+-'#*,-3.0
!"#!#"$%!$&'()#*&)&""($+#,-%#$.&#/-0($()!01#"-)(!0#!*2#&)-*-3()#)-*"$%4)$(-*#-,#
A<
$.!"64-4*$%+8##9*#:;<<#$.!"64&#=-3&*>"#9*"$($4$&1#?3!@4*2& 1#B!"#
&"$!C0(".&2#$-#2&"('*1#/0!*1#(3/0&3&*$#!*2#!""&""#!)$(D($(&"#!(3&2#!$#'&*2&%#
&64!0($+8##E(*)&#$.&*#,-4%#&64!0($+#/0!*"#.!D&#C&&*#2&D("&2#!*2#(3/0&3&*$&2#
C+#$.!"64&#F-D&%*3&*$8##9*#:;;;#$.&#G%2#?64!0($+#H0!*#B!"#)-*"$%4)$&2#$-#
/%-3-$&#'&*2&%#3!(*"$%&!3(*'#!*2#$.&#/!%$()(/!$(-*#-,#B-3&*#(*#!00#B!0@"#-,#
0(,&8
A;
# 9*# AIIJ# !# ,-4%$.# C(00 # -*# &64!0($+# C&$B&&*# 3&*# !*2# B-3&*# B!"#
!//%-D&2# C+# $.&# 5!"64&# H!%0(!3&*$# $-# $!@&# /-"($(D&# !)$(-*# $-# &%!2()!$&# $.&#
340$(/0&# ,-%3"# -,# 2(")%(3(*!$(-*# !'!(*"$# B-3&*K# "-)(-L/-0($()!0# /!%$()(/!$(-*M#
/-%$%!+!0#(*#)40$4%&#!*2#3&2(!M#!))&""#$-#&24)!$(-*1#&3/0-+3&*$1#!*2#C!"()#
"-)(!0#%('.$"M#)-*)(0(!$(-*#-,#/&%"-*!01#,!3(0+#!*2#/%-,&""(-*!0#0(,&M#!*2#D(-0&*)&#
!'!(*"$#B-3&*8#N*-$.&%#(3/-%$!*$#!"/&)$#)-D&%&2#C+#$.&#O!B#B!"#$.&#)%&!$(-*#
-,# $.&# ?64!0($+# P3C42"3!*8# Q.("# ("# !*# (*2&/&*2&*$# C-2+# &*"4%&"# $.!$# $.&#
"&)$-%8
# PD&%# $.&# /&%(-2# -,# :;;<# R# AII<# $.&# ,-00-B(*'# ,4*2!3&*$!0# @&+"#
&*!C0&2# $.&# !2D!*)&3&*$# -,# '&*2&%# &64!0($+K# /%&/!%!$(-*# -,# 0&'("0!$(-*# $-#
!))&0&%!$&# ).!*'&M# )%&!$(-*# -,# "$%4)$4%&"# $-# &*!C0&# -/&%!$(-*!0# )!/!)($+# (*#
/-0()(&"M# (*)%&!"&2# !B!%&*&""# (*# "-)(&$+# -,# $.&# *&&2# ,-%# &64!0($+M# $%!(*(*'# -,#
(*2(D(24!0"#$-#/%-3-$&#/&%"-*!0#).!*'&"#$.!$#&*!C0&#&64!0($+M#)--%2(*!$(-*#-,#
3&).!*("3"# $-# -/$(3(S&# &64!0($+# 3!(*"$%&!3(*'# (*# !23(*("$%!$(-*M# /0!**(*'#
B($.#)($(S&*#/!%$()(/!$(-*M#!*2#$.&#!)$(D&#(*D-0D&3&*$#-,#"-)(&$+#$-#'&*&%!$&#$.&#
/4C0()#B(00#$-#!2D!*)&8#
# Q.%-4'.# /-0()(&"# -,# 3!(*"$%&!3(*'# !*2# /-"($(D&# !)$(-*# $.&# 5!"64&#
7-4*$%+# .!"# "&$# !# C&*).3!%@# ,-%# $.&# ,-%340!$(-*# !*2# (*$&'%!$(-*# -,# &64!0($+#
N0$.-4'.#($#("#/-""(C0&#$-#"4%D(D&#B($.#T4"$#-*&#B(*'1#B&#*&&2#C-$.#B-%@(*'#(*#
20. !"#$%&'(")*+$",'!-.%-*/0''
1'#2&-2.%&'$3*,-$-0'"4*,'-"'-)*'5".&3
!"#$%&'#!(")(*)+"(,-$.%$)'".)/&$'#!0!#1)#()$"'2-$)'".)!"34!&$)!""(0'#!("5))67!3)
7'3) &$89!&$.) '") 9"$89!0(/'-) .$.!/'#!(") #() #$/7"(-(%1:) !") ,7!/7) !"*(&;'#!(")
'".) /(;;9"!/'#!(") '&$) !".!34$"3'2-$5) ) 67!3) ,(9-.) "(#) 7'0$) 2$$") 4(33!2-$)
,!#7(9#)'")'/+"(,-$.%$;$"#)(*)#7$);9-#!<.!;$"3!("'-)0'-9$)(*)/9-#9&$5))=9-#9&$)
9".$&3#((.)'3)!"7$&!#$.)*&(;)#7$)4'3#:)'33!;!-'#$.)*&(;)(#7$&3:)'".)')4&(.9/#!0$)
/'4'/!#1)*(&)!"%$"9!#15)))67!3)!3)("-1)4(33!2-$)!*)/9-#9&$3)'&$)'2-$)#()34$'+)#()
$'/7)(#7$&:)-!#$&'--1)'".);$#'4713!/'--15
) >")&$/(%"!#!(")(*)#7$)$33$"#!'-)31;2!(#!/)&$-'#!("37!4)2$#,$$")-'"%9'%$)
'".)/9-#9&$)#7$)?'389$)=(9"#&1)7'3)'/#!0$-1)/(;;!##$.)!#3$-*)#()#7$).$*$"3$)(*)
DA
')/9-#9&'-)!.$"#!#1)(4$")#()#7$),(&-.5)67$)@AAB)?'389$)=9-#9&'-)C-'" )(9#-!"$.)
#7$)*(--(,!"%)4&!(&!#!$3E)#7$)4&!;'/1)(*)#7$)/&$'#!0!#1)'".)4&(.9/#!0!#1)'#)#7$)/(&$)
(*) #7$) !""(0'#!(") 4'&'.!%;F) #7$) !"#$%&'#!(") (*) /9-#9&'-) 4-9&'-!3;) '3) ') 4'&#) (*)
!"/-93!0$)/!#!G$"37!4F)&$!"*(&/$;$"#)(*)#7$).1"';!/)"'#9&$)(*)?'389$)!.$"#!#1F)
&$/(%"!#!(")(*)/9-#9&$)'3)'")$0(-9#!("'&1)4&(/$33)!"7$&$"#)#();(.$&"!G'#!("F)'".)
#7$)"$$.)#()4&(H$/#)')4(3!#!0$)!;'%$)(*)?'389$)/9-#9&$)'2&('.5))67$)?'389$)
/("/$4#!(")(*)/9-#9&$).&',3)94(")#7'#)(*)I'7'#;')J7'".!5))K$)$L4&$33$.)')
.$3!&$)#()-!0$)!")')7(;$),7$&$)#7$)2&$$G$3)(*)'--)#7$),(&-.M3)/9-#9&$3)/(9-.)4'33)
*&$$-1:)29#)&((#$.)21)7!3)(,")!.$"#!#1)7$)&$*93$.)#()2$)3,$4#)','1)21)'"1)(*)
#7$;5
!3) "(#) #7$!&) ("-1) -'"%9'%$5) ) N&$"/7) '".) O4'"!37) '&$) #7$) PQ$&.$&'RS) 3$/(".)
-'"%9'%$3)(*)#7$)?'389$)C$(4-$:),7!/7)!")#7$)@T3#)/$"#9&1)'&$)H(!"$.)21)#7!&.)
-'"%9'%$3) (*) U"%-!37) '".) J$&;'"5) =("3$89$"#-1) #7$) ?'389$) =(9"#&1) 7'3)
DT
.$0$-(4$.)')-'"%9'%$)4(-!/1
!3)(*)4$&3("'-)0'-9$:)'".)-!"%9!3#!/)/($L!3#$"/$)!3)'")'33$#)*(&)/(7$3!(")'".)
+'"4(&':) H'-%!) '.!) 4-'G'&':) H'-%!) '.!) ;9".9&'R:) /("#!"9$) #() &$3("'#$) ,!#7) #7$)
4(-!/!$3)#7'#)4&(;(#$)'")(4$")?'389$)/9-#9&'-)!.$"#!#1E))Q?'389$)-'"%9'%$)%()
D@
(9#V)J()#()#7$)389'&$V)W4$")1(9&).((&3)#()#7$),(&-.VR)
21. !"#$%&"'(")*+,-)%*)(./
0")%&123)$&",
!"#$% &'% ()*% +!$,-*% .-$(!#/!01*% 2-3!/% 4*5*1&63*/(% $(7!(*89:% ;&/$<#&-$% &'%
()*%67*=#<(*=%)-3!/%#36!<($%&'%81&0!1%<1#3!(*%<)!/8*>%+!$,-*%$&<#*(9%)!$%
7*<&8/#?*=% ()!(% #/% ()*% *''&7(% (&% 3#(#8!(*% !/()7&6&8*/#<% 81&0!1% @!73#/8% ()*7*%
#$% /&(% (#3*% (&% @!#(% (&% !<(>% /&7% <!/% 3#$(!A*$% 0*% 3!=*:% B)*% 3!8/#(-=*% &'% ()#$%
<)!11*/8*% #$% */&73&-$% #/% 0&()% $<!1*% !/=% =-7!(#&/C% ()*% 1*8!<9% ()!(% @*% 1*!5*%
'&7%&-7%<)#1=7*/%#$%!(%7#$A:%.-$(!#/!01*%4*5*1&63*/(%3*!/$%*/$-7#/8%!%0*((*7%
,-!1#(9%&'%1#'*%'&7%*5*79&/*>%/&@%!/=%#/%()*%'-(-7*:%B)*7*'&7*>%,-!1#(9%&'%1#'*%3-$(%
0-#1(%&/%()*%'&-/=!(#&/$%&'%*/5#7&/3*/(!1%$-$(!#/!0#1#(9:
% B)*% !667&5!1% &'% ()*% D*/*7!1% E!@% (&% F7&(*<(% ()*% G/5#7&/3*/(% &'% ()*%
HH
+!$,-*% ;&-/(79 % @!$% !667&5*=% #/% IJJK>% 7*67*$*/(#/8% !% 3#1*$(&/*% #/% ()*%
<&-/(79L$%<&33#(3*/(%(&%*/5#7&/3*/(!1%6&1#<#*$%'&<-$*=%09%$-$(!#/!01*%)-3!/%
!/=% '!-/!% @&-1=% 0*% $-$(!#/!01*:% B)*% E!@% !1$&% <&33#((*=% (&% !% 67&<*$$% &'%
<!6!<#(9%&'%'-(-7*%8*/*7!(#&/$:
% M/%NOOI%()*%$&<#!1%!/=%*<&/&3#<%!"*$%&'%=*5*1&63*/(%@*7*%#/(*87!(*=%
@#()% ()*% !"*$% &'% */5#7&/3*/(!1% $-$(!#/!0#1#(9% ()7&-8)% ()*% ;&33#(3*/(% (&%
.-$(!#/!0#1#(9%&'%()*%+!$,-*%;&-/(79HP:%B)*%'&11&@#/8%67#/<#61*$%@*7*%*$(!01#$)*=%
(&%!1#8/%()*%<&/<*6($%&'%*,-#(!01*%87&@()%@#()%*/5#7&/3*/(!1%$-$(!#/!0#1#(9Q
Ethical code:% R-7% @!9% &'% ()#/A#/8>% 5!1-*$>% 1#'*$(91*% !/=% <&/$-36(#&/% )!0#($%
Social cohesion and participation:%S11%$*<(&7$%&'%$&<#*(9%)!5*%!%7&1*%(&%61!9%
#/%()*%(7!/$#(#&/%(&@!7=$%$-$(!#/!0#1#(9:
Principle of precaution: T*%3-$(%67&3&(*%!<(#&/%*5*79%(#3*%()*7*%#$%!%()7*!(%
&'%=!3!8*%(&%()*%*/5#7&/3*/(:
Comprehensive focus:% B)*% */5#7&/3*/(% 5!7#!01*% $)&-1=% 0*% #/<1-=*=% #/% !11%
6&1#<9%$*<(&7$:
B)*7*% 3!9% !/=% 3-$(% 0*% !% 7*=-<(#&/% #/% ()*% -$*% &'% /!(-7!1%
7*$&-7<*$>%@)#1*%#/<7*!$#/8%67&=-<(#5#(9:
Strategic planning:%G/5#7&/3*/(!1%&0U*<(#5*$%3-$(%0*%()*%'7-#(%&'%()*%67&<*$$%
22. !"#$%&"'(")*+,-)%*)(./
0(1$2'3)(%',-)%*)(.$4,5+*""$".6,7887,3,7878
! "#!$%%$!&'(!)*+,-(!./-#&01!2/334&&(5!4&6+!+(78!&/!*#!(#940/#3(#&*7!
+&0*&(:1;< ;=
!8/0!$%$%>!
?-*0*#&((!27(*#!*#5!'(*7&'1!*40@!A*&(0!*#5!7*#5B!
C(+D/#+4E7(!3*#*:(3(#&!/8!#*&-0*7!0(+/-02(+!*#5!A*+&(B!
F0/&(2&4/#!/8!G*&-0(!*#5!)4/549(0+4&1B!
)*7*#2(!&'(!#((5+!/8!D(0+/#*7!3/E474&1!*#5!&0*#+D/0&*&4/#B!
*59*#2(+!*#5!*5*D&4#:!&/!#(A!+4&-*&4/#+!*+!&'(1!*0(!5(&(2&(5H!!I'(!/EJ(2&49(+!
A(0(! E*+(5! /#! &'(! D04#24D7(+! /8! 2*-&4/#! *#5! D0(9(#&49(! *2&4/#@! 2/00(2&4/#!
/8! 5*3*:(! D0(8(0*E71! *&! &'(! +/-02(@! *#5! (#940/#3(#&*7! 0(2/9(01H! I/! (#+-0(!
*22/-#&*E474&1! ,-*#&4&*&49(! 9*7-(+! *#5! 5(*574#(+! A(0(! *++4:#(5! 8/0! &'(!
*2'4(9(3(#&!/8!(#940/#3(#&*7!/EJ(2&49(+!*#5!:/*7+H
! I'(! 5(9(7/D3(#&! D0/2(++! /8! &'(+(! :/*7+! *#5! /EJ(2&49(+! A*+! E*+(5!
/#! *! 2/334&3(#&! &/! *2&49(! 2//D(0*&4/#! E(&A((#! D-E742! 4#+&4&-&4/#+! *#5!
;K
+/24*7! *:(#&+
7(9(7+!/8!:/9(0#3(#&@!*#5!)*+,-(!(2/#/342!*#5!+/24*7!*:(#&+H!
&/!*59*#2(!&/A*05+!+-+&*4#*E474&1!4#!&'(!)*+,-(!./-#&01>
"3D0/9(!(#940/#3(#&*7!7(:4+7*&4/#!*#5!'/A!4&!4+!*DD74(5H
L#2/-0*:(!&'(!3*0M(&!N2/3D*#4(+!*#5!2/#+-3(0+N!&/!*2&!4#!8*9/0!/8!&'(!
(#940/#3(#&H
"#&(:0*&(!&'(!(#940/#3(#&*7!9*04*E7(!4#!*77!/&'(0!D/7424(+H
O*M(!24&4P(#+@!2/3D*#4(+!*#5!4#+&4&-&4/#+!J/4#&71!0(+D/#+4E7(!8/0!!!!!!!!!!
3/54814#:!'*E4&+!4#!8*9/0!/8!+-+&*4#*E474&1H
F0/3/&(!0(+(*02'!2/#2(0#(5!A4&'!&'(!(#940/#3(#&H
L#:*:(!4#!(#940/#3(#&*7!2//D(0*&4/#!/#!*#!4#&(0#*&4/#*7!7(9(7H
23. !"#$%&"'(")*+,-)%*)(./,
0$.1),2.*$"3),4+$'*)(,41*".(
! "#$! %$&'%$! ()! *#$! +,,-.! /'.! &#'0'&*$012$%! 34! '! 3((.*! 15! .(&1'6!
'/'0$5$..! '5%! 7(.1*18$! '&*1(5.! *(! 70$.$08$! *#$! $5810(59$5*! 15! *#$! :'.;<$!
=(<5*04>! "#$! )(66(/15?! %$&'%$! #'.! )(&<.$%! (5! *#$! 70(9(*1(5! ()! $))$&*18$!
@5810(59$5*'6!7(61&1$.!'0$!5(/!%$.1?5$%!15!0$&(?51*1(5!()!*#$!(8$0/#$6915?!
(5!&619'*$!&(5%1*1(5.
)(09<6'*$%!'!.$01$.!()!&(991*9$5*.!)(&<.$%!(5!)(<0!'0$'.A!$5$0?4B!*0'5.7(0*B!
15%<.*04B! '5%! *#$! &(5.*0<&*1(5! .$&*(0>! "#$! .$&(5%! @5810(59$5*'6! C0'9$/(0D!
E0(?0'99$!&'9$!15*(!$))$&*!15!F<5$!G--H!)(0!*#$!7$01(%!G--HIG-+->!J9(5?!1*.!
'?'15.*!&619'*$!&#'5?$!15!*#$!:'.;<$!J<*(5(9(<.!=(99<51*4A
J$8$!'!.'815?!15!$5$0?4!15!G-+-!()!,HKB---!*(5.!()!(16!$;<18'6$5*!L"M@NO!
J$8$! G,P! ()! $6$&*01&1*4! &(5.<97*1(5! )0(9! 0$5$/'36$! $5$0?4! '5%!
&(?$5$0'*1(5O!
J$8$!'55<'6!&(5.<97*1(5!()!+HHB---!"M@!()!31(I)<$6!15!*0'5.7(0*O!
Q$'&#!RKP!0$&4&615?!()!*#$!*(*'6!<03'5!/'.*$!?$5$0'*$%!'5%!'5!$5%!*(!*#$!
%$7(.1*15?!()!5(5I*0$'*$%!<03'5!/'.*$O!
S*(7!*#$!6(..!15!31(%18$0.1*4B!)(0!/#1&#!9$'.<0$.!/$0$!70(7(.$%B!15&6<%15?!
0$.*(015?!K-!T$&*'0$.!()!/$*6'5%.O!
U5&0$'.$!*#$!)(0$.*04!'0$'!34!+-B---!T$&*'0$.!/1*#!0$?'0%!*(!*#'*!$V1.*15?!
15!G--W!'5%!0$%<&$!*#$!70$.$5&$!()!158'.18$!$V(*1&!.7$&1$.O!
Q$I&#'55$6! *#$! %1.*013<*1(5! ()! 7<361&! *0'5.7(0*! 7'..$5?$0.! '5%! ?((%.!
*0'5.7(0*B!*(/'0%.!0'16!*0'5.7(0*>
! U5! X$&$93$0! G--H! *#$! :'.;<$! E6'5! J?'15.*! =619'*$! =#'5?$RY! /'.!
'770(8$%!34!*#$!:'.;<$!Z(8$059$5*!*(!#'09(512$!:'.;<$!&619'*$!&#'5?$!
0$6'*$%! 7(61&1$.! /1*#! @<0(7$'5! [51(5! ?<1%$615$.>! "#0(<?#! '! &(970$#$5.18$!
'770('&#!*#$!7019'04!?('6!/'.!*(!0$%<&$!&'03(5!$91..1(5.!*(!++P!()!6$8$6.!
0$&(0%$%!15!+,,->
24. !"#$%&"'(")*+,-)%*)(./,
-01)*$"*2+(,!"(%./3,4%*"15&%),*"6,7&2$+$)/
! "#! $%&'%! ($! )**$+,-./0! (0'! (0.%&! )1./! $2! 34/().#)5-'! 64+)#!
7'8'-$,+'#(9!(0'!:)/;4'!<$4#(%=!%'*$>#.?'&!(0'!#''&!($!(%)#/.(.$#!)@)=!2%$+!
)!+$&'-!$2!,%$&4*(.$#9!/4,,-=!)#&!*$#/4+,(.$#!&','#&'#(!4,$#!0=&%$*)%5$#!
CI
(0./!(%)#/.(.$#!.#!.(/!!ABCDEFGFH! !'#'%>=!/(%)('>=J
! @.(0! )#! ).+! ($! %'&4*.#>! '#'%>=! *$#/4+,(.$#! .#!
>-$5)-!('%+/9!)#&!)!%'&4*(.$#!.#!'#'%>=!.#('#/.(=K!!
Increase renewable sources of energy
@.#&9!)#&!5.$D24'-/K
Invest in energy infrastructures! ($! .+,%$8'! (0'! /'*4%.(=! $2! (0'! /4,,-=9!
*$+,'(.(.8'#'//! )#&! ;4)-.(=! $2! (0'! '#'%>=! /=/('+K! L.(0! %'>)%&! ($! !
'#8.%$#+'#()--=! /'#/.(.8'! ,%$&4*(.$#! 5=! +')#/! $2! *$+5.#'&! *=*-'! ,$@'%!
/()(.$#/K
Promote research and development!.#!(0'!:)/;4'!'#'%>=!/'*($%!($!.+,%$8'!
! 3.+.-)%-=9! ,$-.*.'/! (0)(! ,%$+$('! /4/().#)5-'! (%)#/,$%()(.$#! )%'! )#!
'//'#(.)-! *$+,$#'#(! $2! (0'! (%)#/.(.$#! )@)=! 2%$+! )! 0=&%$*)%5$#! &','#&'#(!
/$*.'(=K!"#!EFFE!(0'!:)/;4'!M$8'%#+'#(!-)4#*0'&!)!N)/('%!O-)#!2$%!34/().#)5-'!
QF
P%)#/,$%( !@.(0!(0'!$5R'*(.8'!$2!&./*$##'*(.#>!(0'!&'+)#&!2$%!(%)#/,$%(!2%$+!
'*$#$+.*! &'8'-$,+'#(K! ! ! P0'! ,-)#! /$4>0(! ($! )&&%'//! (0'! $8'%! %'-.)#*'! $#!
,%.8)('!8'0.*-'/!2$%!.#&.8.&4)-!+$5.-.(=!)#&!%$)&!(%)#/,$%(!)/!(0'!+')#/!2$%!(0'!
(%)#/,$%()(.$#!$2!>$$&/K!!P0'!O-)#!'#*$4%)>'&!(0'!4/'!$2!,45-.*!(%)#/,$%(!2$%!
,)//'#>'%/9!)#&!%).-!)#&!#)4(.*)-!(%)#/,$%(!2$%!>$$&/K
$2! +4-(.-'8'-! >$8'%#)#*'! ./! ,)%(.*4-)%-=! /4.()5-'K! "#! $%&'%! ($! )*0.'8'! (0./!
%'5)-)#*'!)(!&.22'%'#(!/*)-'/9!2%$+!-$*)-!)#&!&./(%.*(!-'8'-/!($!(0'!.#('%#)(.$#)-!
-'8'-9!+')/4%'/!+4/(!.#*-4&'!4%5)#!&'8'-$,+'#(9!()1'/9!('*0#$-$>=9!+$5.-.(=!
&'+)#&!+)#)>'+'#(!)#&!)-/$!(0'!*%')(.$#!$2!#'@!.#2%)/(%4*(4%'/K!3$-4(.$#/!
+4/(!5'!2$4#&!(0)(!)&),(!($!(0'!#''&/!$2!(0'!&'+)#&!2$%!+$5.-.(=!)#&!&'+)#&/!
2$%!'#8.%$#+'#()-!/4/().#)5.-.(=K!
25. !"#$%&#'
()*+,-&./#'.0'1,.).2+,'3/.4&5
! "#$%!&'!(#$%!)*%+',!-.#!/#%+&)!*')#%!0&'1+)#%$-+&'!-.#!2*-&'&3&*1!
4&33*'+-(! &5! -.#! 6$17*#! 4&*'-%(! .$1! )#3&'1-%$-#)! 0&'1+1-#'-8(! 1-%&',!
#0&'&3+0!,%&9-.:!;%&3!<==>!-&!?@@>!-.#!6$17*#!#0&'&3(A1!%$-#!&5!BCD!,%&9-.!
.$1!0&'1#0*-+E#8(!#F0##)#)!-.&1#!$0.+#E#)!G(!H/$+'!I9+-.!-.#!#F0#/-+&'!&5!
?@@?JK!-.#!L*%&MN&'#K!-.#!L*%&/#$'!O'+&'K!;%$'0#K!P-$8(K!B#%3$'(K!-.#!O'+-#)!
H-$-#1K! $')! Q$/$':! ! 21! $! 0&'1#7*#'0#! -.#! BCD! /#%! 0$/+-$! &5! -.#! 6$17*#!
4&*'-%(K! 9.#'! 0&3/$%#)! $1! $! /#%0#'-$,#! &5! -.#! LO! $E#%$,#K! .$1! %+1#'!
0&'1+)#%$G8(! &E#%! -.#! )#0$)#! $'$8(N#):! H-$%-+',! 5%&3! <@>:=R! +'! <==>! $')K!
%#$0.+',!<STR!+'!?@@>:!
! U.+1!#0&'&3+0!,%&9-.!.$1!G##'!)#/#')#'-!&'!-.#!6$17*#!4&*'-%(A1!
/#%0#'-$,#!&5!BCD!,#'#%$-#)!G(!-.#!+')*1-%+$8!1#0-&%!%#8$-+E#!-&!-.#!%#1-!&5!-.#!
#0&'&3(!.$1!G##'!1*G1-$'-+$88(!.+,.#%!+'!-.#!6$17*#!4&*'-%(!-.$'!G&-.!H/$+'!
$')!-.#!L*%&/#$'!O'+&':
! V+-.&*-!)&*G-K!-.+1!0&33+-3#'-K!)#E+1#)!$')!$00&3/8+1.#)!-.%&*,.!
1#85! ,&E#%'3#'-K! 9$1! -.#! W#(! -&! -.#! +3/%&E#)! /#%5&%3$'0#! &5! -.#! 6$17*#!
#0&'&3(:! U&)$(! -.#! 9&%8)! 1/#$W1! $G&*-! &G1#%E+',! -.#! %#$8! #0&'&3(! -&!
&5! -.#! )#8+G#%$-#! 0&'1+)#%$-+&'! &5! $! 0&*'-%(A1! #0&'&3+0! 1-%*0-*%#! +'! &%)#%! -&!
-$0W8#!-.#!0.$',#1K!0.$88#',#1!$')!-%$'15&%3$-+&'1!-.$-!.$E#!-&!G#!5$0#):
! P'!-.#!?<1-!0#'-*%(!#0&'&3+0!,%&9-.!.$1!%#7*+%#)!0&'1-$'-!-#0.'&8&,+0$8!
+''&E$-+&'K! -.%&*,.! $! 1-%$-#,+0! /*G8+0M/%+E$-#! 0&33+-3#'-! -&! %#1#$%0.! $')!
5%&3!S=T:?!3+88+&'!L*%&1!I<:<<R!&5!BCDJ!<==>K!-&!<KSXY:Y!3+88+&'!L*%&1!I<:=TRJ!
BCDK!,%&9+',!5$%!18&9#%!5%&3!@:>ZR!+'!<==>!-&!<:SYR!+'!?@@>:
26. !"#$%&#'
()*+,-&./#'.0'1.,+-%'2.3"#+.)'
! "#!$%&'(!)*'+,%-#./0!,$!&1'!23#&!4'$&-*/!5!1,61./!'(-75&'(!#%7,'&/!15#!
8''$!)*'*'9-,#,&'!:%*!,$$%+5&,+'!('+'.%);'$&!,$!&1'!<5#9-'!4%-$&*/=!!>1*%-61!
&1'! 2???#! &1'! <5#9-'! 4%-$&*/@#! 7%;).'&,%$! *5&'! %:! 7%;)-.#%*/! '(-75&,%$!
*';5,$'(! )5*5..'.! A,&1! &1'! B-*%)'5$! C$,%$! 5+'*56'0! *'571,$6! DEF! ,$! 2??E=!
!
<5#9-'! 4%-$&*/@#! '7%$%;,7! :%7-#! %$! 1,61G&'71! ,$$%+5&,%$! ,&! ,#! ,;)%*&5$&!
577%-$&!:%*!2DF!%:!('6*''#!%8&5,$'(!,$!&1'!<5#9-'!4%-$&*/!,$!2??D0!8/!:5*!&1'!
1,61'#&!*5&'!,$!B-*%)'H3=!!
! >1'! '7%$%;,7! #-77'##! %:! &1'! <5#9-'! 4%-$&*/! 15#! &*5$#.5&'(! ,$&%!
5! )*%(-7&,+'! #%7,'&/=! ! I*%;! 2???! &%! 2??E! &1'! <5#9-'! 4%-$&*/! *'(-7'(! ,&#!
-$';).%/;'$&! *5&'! :*%;! 32=3F! &%! J=HF=! K%&58./0! &1'! <5#9-'! 4%-$&*/! 15#!
8''$! 58.'! &%! *'(-7'! ,&#! .%$6G&'*;! -$';).%/;'$&! *5&'! :*%;! 5! *'.5&,+'./! 1,61!
*5&'!%:!D=EF!,$!3LLL!&%!?=LF!,$!2??E=!!".&1%-61!&1'!2??E!:';5.'!';).%/;'$&!
*5&'!MNE=EFO!A5#!#.,61&./!.%A'*!&15$!&1'!B-*%)'5$!C$,%$!5+'*56'!MNL=3FO0!&1,#!
*5&'!15#!1,#&%*,75../!8''$!1,61'*!&15$!&1'!BC!5+'*56'0!*'571,$6!DJ=3F!,$!2??E!
7%;)5*'(!&%!D2=EF=!
! >1,#! #-77'##! 15#! '$58.'(! &1'! <5#9-'! P%+'*$;'$&! &%! 7%;;,&!
I%*!'Q5;).'0!'Q)'$(,&-*'!%$!1%-#,$6!5$(!';'*6'$7/!#-))%*&!,$7*'5#'(!:*%;!
JL=2! ;,..,%$! B-*%#! ,$! 2???! &%! 2R3=3! ;,..,%$! B-*%#! ,$! 2??E=! ! S-8.,7! #)'$(,$6!
*'.5&'(!&%!:5;,./!)*%&'7&,%$0!5#!%-&.,$'(!,$!&1'!I5;,./!S.5$0!,$7*'5#'(!:*%;!NNN!
;,..,%$!B-*%#!,$!2??H!&%!E2?!;,..,%$!B-*%#!,$!2??E=!!>1'#'!,$+'#&;'$&#!15+'!15(!
5!*';5*T58.'!,;)57&!%$!<5#9-'!U%7,'&/=!!V$!2???!&1'!*5&'!%:!&1'!*,#T!%:!)%+'*&/!
M3D=3FO!A5#!1,61'*!&15$!&1'!B-*%)'5$!5+'*56'!M3JFO0!/'&!8/!2??D!,&!15(!8''$!
*'(-7'(!&%!3H=EF0!8'.%A!&1'!BC!5+'*56'!*5&'!%:!3DF=!
! I-*&1'*;%*'0!&1'!<5#9-'!4%-$&*/!15#!;5('!65,$#!,$!&'*;#!%:!6'$('*!
'9-5.,&/!,$!)%.,&,75.!*')*'#'$&5&,%$=!!>1'!<5#9-'!S5*.,5;'$&!15#!,$7*'5#'(!&1'!
)*%)%*&,%$!%:!:';5.'!WS#!3LLD!:*%;!,$!2HF!,$!3LLD!&%!NRF!,$!2??E0!5$(!&1'!
S*%+,$7,5.! 4%-$7,.#! 15#! ,$7*'5#'(! :';5.'! ;';8'*#1,)! :*%;! 3DF! ,$! 3LLN! &%!
H3F!,$!2??D=
27. !"#$%&#'
()*+,-&./#'.0'1)2+/.)3")&-%'4$#&-+)-5+%+&6
! "##$%&'!&$!%()*+(!&,(!-.(%-/(!0(.(0!$#!(12''2$3'!&$!4456!$#!4778!0(.(0'!
9:!;84;!',$<!12=()!%('*0&'>!!?32&2-00:!(12''2$3'!+0219()!&$!-!@(-A!$#!4;B>C6!23!
;88;D!9*&!,-.(!9((3!+$3'(+*&2.(0:!%()*+()!:(-%E$3E:(-%!&$!-!0(.(0!$#!44F>C6!
23!;88F>!!G-+%$!-3-0:'2'!$#!(12''2$3!&%(3)'!'*//('&'!&,-&!&,(!H-'I*(!J$*3&%:!
',$*0)!(.(3&*-00:!%(-+,!2&'!/$-0D!9*&!<200!%(I*2%(!)(&(%123()!(##$%&'>!
! K('@2&(!&,(!#-+&!&,-&!&,(!H-'I*(!J$*3&%:!,-'!+$112&&()!&$!23)*'&%2-0!
@%$)*+&2$3!2&!,-'!'*9'&-3&2-00:!%()*+()!&,(!(3(%/:!23&(3'2&:!$#!2&'!(+$3$1:>!!L,(!
"*%$@(-3!M32$3!1(-'*%('!&,(!(3(%/:!23&(3'2&:!$#!-3!(+$3$1:!9:!&,(!(I*-&2$3!
$#!/%$''!)$1('&2+!(3(%/:!+$3'*1@&2$3!N1(-'*%()!23!A20$/%-1'!$#!(I*2.-0(3&!
$20O!)2.2)()!9:!PKQ!@(%!&,$*'-3)!"*%$'>!"3(%/:!23&(3'2&:!23!&,(!H-'I*(!J$*3&%:!
#(00!#%$1!4CB>F!23!477F!&$!45B>R!23!;88FD!#-%!9(0$<!&,(!"*%$@(-3!M32$3!-.(%-/(!
@$'2&2$3'!23!&,2'!@-%&2+*0-%!23)(=>
! ?3! ;88C! &,(! H-'I*(! J$*3&%:! +-1(! '(+$3)! 23! &,(! "*%$@(-3! M32$3S'!
$#!T@-23!23!&,2%)!@0-+(>!!U(-.23/!3$!)$*9&!23!&,(!I*-02&:!$#!&,(!H-'I*(!J$*3&%:S'!
@$02+2('!+$112&&()!&$!(3.2%$31(3&-0!'*'&-23-9202&:>
! V$<(.(%D!@%2.-&(!+-%!*'-/(D!&,(!1(-3'!$#!&%-3'@$%&!&,-&!(12&'!&,(!1$'&!
@(%!+-@2&-!+-%9$3!(12''2$3'!23&$!&,(!-&1$'@,(%(D!,-'!23+%(-'()!#%$1!R5>B6!
&$!RF>B6!$#!&$&-0!&%2@'!#%$1!;88R!&$!;88W>!!Q*902+!&%-3'@$%&-&2$3!$.(%!&,(!'-1(!
@(%2$)!-0'$!23+%(-'()!#%$1!4R>F6!&$!45>C6!$#!&%2@'D!9*&!23!)(&%21(3&'!$#!&%2@'!
9:!#$$&>!!?3!$%)(%!&$!1((&!2&'!(12''2$3'!&-%/(&'!&,(!H-'I*(!J$*3&%:!<200!3(()!&$!
1-A(!/%(-&(%!@%$/%(''!23!&,(!)(.(0$@1(3&!$#!'*'&-23-90(!&%-3'@$%&-&2$3>!
! ?3! +$3+0*'2$3D! -+,2(.23/! (3.2%$31(3&-0! '*'&-23-9202&:! %(1-23'! -!
2'!9(23/!1-)(!&,%$*/,!&,(!H-'I*(!Q0-3!X/-23'&!J021-&(!J,-3/(D!-3)!-0&,$*/,!
&,(! %('*0&'! %(-+,()! $.(%! %(+(3&! :(-%'! -%(! ,(-)23/! 23! &,(! %2/,&! )2%(+&2$3! &,2'!
)$('!3$&!/*-%-3&((!&,-&!2&!<200!1((&!2&'!(12''2$3'!&-%/(&'>!
28. !"#$%&#
'$(()*+
! "#$! $%&'()*&+! &,! )#$! -./0($! 1&(+)23! &%$2! )#$! 4./)! )#*2)3! 3$.2/! #./!
5$$+!2&&)$6!*+!.+!$)#&/!&,!$7&+&8*7!92&:)#!.)!)#$!/$2%*7$!&,!)#$!7&88(+*)3;!
7&84$)*)*%$+$//!*+!/&'*6.2*)3<
! =>?! 4$2! 7.4*).! #./! 92&:+! $@4&+$+)*.''3! /*+7$! )#$! 2$7&%$23! &,!
.()&+&83<! ! A+! 4.2.''$'B! .,)$2! *+6(/)2*.'! 2$/)2(7)(2*+9! .+6! 2$7&+%$2/*&+! *+! )#$!
CDEF/B! (+$84'&38$+)! #./! 6$7'*+$6! 7&+)*+(&(/'3<! ! "#*/! )2.+/,&28.)*&+! &,!
)#$! -./0($! 1&(+)23! #.%$! 5$$+! 6$4$+6$+)! &+! .! 42&6(7)*%$! .+6! *++&%.)*%$!
$7&+&83B!9(*6$6!53!8*72&G$7&+&8*7!4&'*7*$/!.+6!/(44&2)$6!53!.!7&88*)8$+)!
)#.)! 42&6(7$/! #*9#! 0(.'*)3! 9&&6/! .)! )#$! 7())*+9! $69$! &,! )$7#+&'&93B! .+6! .!
7(')(2.''3!6*/)*+7)!/&7*$)3!+(2)(2$6!53!)#$!,2$$!$@7#.+9$!&,!*6$./!.+6!*+,&28.)*&+<
29. !"#$%&#
'()*%$#+(),
! "#$! %&'()! *$+$,-.'$)/! 0)1$2! 3%*04! 56! (! 67)/#$/58! 5)158(/-9! -:! (!
8-&)/97;6!,$+$,!-:!1$+$,-.'$)/<!.9-1&8$1!=7!/#$!>)5/$1!?(/5-)6@!"#$!%*0!56!()!
5)158(/-9!/#(/<!5)!-&9!A&1B'$)/<!.9$6$)/6!,5'5/(/5-)6!/-!15(B)-65)B!/#$!1$B9$$!
-:!1$+$,-.'$)/!-:!(!8-&)/97!5)!/$9'6!-:!$C&5/(=,$!-9!1$'-89(/58!1$+$,-.'$)/@! !
%-D$+$9<!=7!(66$665)B!(BB9$B(/$!6-85(,!5)158(/-96!5)!(115/5-)!/-!E*F!/#$!%*0!
GH
GK
<!1$6895=$1!=7!
I/5B,5/J !(6!(!)$8$66(97!/9()65/5-)!5)!/#$!8-)8$./&(,5J(/5-)!-:!.9-B9$66!L:9-'!
.9-1&8/5-)! /-! D$,,M=$5)B@N! "#56! D(6! /#$! :&)1('$)/(,! 9$(6-)! :-9! /#$! O(6C&$!
E-+$9)'$)/;6! 9$C&$6/! /#(/! /#$! >)5/$1! ?(/5-)6! 5)8-9.-9(/$! /#$! P&/-)-'-&6!
Q-''&)5/7!-:!/#$!O(6C&$!Q-&)/97!5)/-!5/6!9$.-9/!-)!/#$!%*0@!0)!/#$!=$,-D!/(=,$!
D$!8()!-=6$9+$!/#$!.$9:-9'()8$!-:!/#$!O(6C&$!Q-&)/97!(6!D#-,$<!9565)B!/-!(!
,$(15)B!.-65/5-)!5)!/#$!%*0@!
! "#$!O(6C&$!.&=,58!(1'5)56/9(/5-)6!#(+$!B$)$9(,,7!8(995$1!-&/!(!9(/5-)(,!
'-1$,!-:!O(6C&$!6$,:MB-+$9)'$)/<!.(9/58&,(9,7!/#$!R8-)-'58!PB9$$'$)/@!"#56!
$/#58(,,7! 195+$)! =&/! (&6/$9$! (..9-(8#! /-! .&=,58! 6.$)15)B! #(6! $)(=,$1! /#$!
O(6C&$! Q-&)/97! /-! (8#5$+$! 6-'$! -:! /#$! ,-D$6/! ,$+$,6! -:! B9-66! 8-)6-,51(/$1!
GG
B-+$9)'$)/!1$=/!5)!R&9-.$ @!!"#$!O(6C&$!Q-&)/97!)-D!6$$S6!/-!/9()6'5/!/#$!
9$6-&98$6!/-!1$+$,-.!5))-+(/5+$!51$(6@!"#$!8-)8,&65-)!56!/#$9$:-9$!8,$(9T!/#$!
#(6! '$()/! B9$(/$9! D$,,M=$5)B<! ()1! /#(/! /#$9$! (9$! +5(=,$! (,/$9)(/5+$6! /-! )$-M
,5=$9(,56'@
30. !"#$%&'%()**"$$
! "#$%! &'()*+,-! #.%! +*/#.%$0+&! -#.-! -#+! 1.%2)+! 3+'/4+! #.5+! 6'-#!
*.$,-.$,+&! .! &$%-$,(-! ()4-)7.4! $&+,-$-8! .,&! .&./-+&! -'! -#+! (#.,9$,9! -$*+%! -'!
6+!.*',9!-#+!:'74&!4+.&+7%!$,!;)%-.$,.64+!<)*.,!=+5+4'/*+,->!"#+!7+%)4-%!
(',(4)&+!-#.-!.!('**$-*+,-!-'!.!%8%-+*!'?!$,,'5.-$',!#.%!6++,!?),&.*+,-.4!
$,! 7.$%$,9! -#+! %/++&! '?! 97':-#@! :#$4%-! *.$,-.$,$,9! %'($.4! .,&! +,5$7',*+,-.4!
6.4.,(+>!
! "#+!/7+5$')%!(#./-+7!7+5$+:+&!&.-.!-#.-!+,&'7%+&!-#+!+A$%-+,(+!'?!.!
*'&+4!'?!%)%-.$,.64+!#)*.,!&+5+4'/*+,-!$,!-#+!1.%2)+!B'),-78>!"#+!1.%2)+!
B.%+! &+*',%-7.-+%! -#.-! 97':-#! %#')4&! ,'-! 6+! 5$+:+&! %$*/48! .%! .! *.--+7! '?!
C+(','*$(!7.-$',.4$-8D!6)-!(.,!.4%'!$,(4)&+!%'($.4!'6E+(-$5+%!.,&!+-#$(.4!5.4)+%>! !
6+!.79)+&!-#.-!-#+!?'44':$,9!F+8!&$??+7+,-$.4%!*.&+!-#+!%-7.-+98!'?!;)%-.$,.64+!
<)*.,!=+5+4'/*+,-!$,!1.%2)+!%'($+-8!/'%%$64+>
+%,%-'.*"/&0'.%1.2%30$0'.%'4%1%*').&5#
G)7'/+.,$%*@! -#+! 1.%2)+! 3+'/4+! #.5+! (4.$*+&! .(-$5+! /7'-.9',$%*H! -#+$7!
':,!/4.(+!.,&!-#+$7!':,!5'$(+>!I+!#.5+!-7$+&!-'!(',-7$6)-+@!#)*648!6)-!:$-#!
(',5$(-$',@!:$-#!')7!()4-)7+@!4.,9).9+@!:.8!'?!),&+7%-.,&$,9!:'7F@!+&)(.-$',@!
('*/.,$+%@!%.5$,9%@!%'4$&.7$-8@!%'($+-8!.,&@!,':@!.!*'&+4!'?!%)%-.$,.64+!#)*.,!
&+5+4'/*+,->!"#+!1.%2)+!*'&+4!#.%!6++,!/'%%$64+!6+(.)%+!.!%#.7+&!5$%$',!
'?!.!('),-78!+A$%-+&>
! "#+!1.%2)+!3+'/4+!.%/$7+!-'!.!5$%$',!'?!.!('),-78!'/+,!-'!-#+!:'74&!6)-!
:$-#!&++/!()4-)7.4!7''-%>!"#+!.$*!$%!$,-+97.-$',!$,-'!-#+!94'6.4$0+&!:'74&!:#$4%-!
KL
J,,., !:$%+48!/)-!$-@!C:+!(.,!4'5+!:#.-!:+!.7+@!:$-#')-!#.-$,9!:#.-!:+!.7+!
,'->D!M,!-#+!NO%-!(+,-)78!-#+!1.%2)+!3+'/4+!%++F!-'!6+!+,7$(#+&!68!-#+!:'74&!
.,&! (',-7$6)-+! -'! -#+! 94'6.4! *P4.,9+! :$-#! ')7! ':,! ),$2)+! ()4-)7+>! Q)7! %+4?!
:+!#.5+!-.F+,>!
31. !!"#"$%&'()"*(&)('+%,-".%'/01%"-02*,3#-',4&.("-&'.5('+%,-
! "! #$%$&'! &(! )&*'+,-! $%! $'.$%/0'%12304! 5670'! +70,0! $%! '&! #$%$&'4! +70!
?@
/0&/30! /0,$%78! 9,0%$.0'+! :,1';3$'! <=! >&&%0#03+! %1$.! 6$+7! *'.&*2+0.! 0((0)+ =!
A$+7&*+! #$%$&'! +70,0! $%! '&! 301.0,%7$/4! 2*+! 6$+7! 1! %71,0.! #$%$&'! &(! )&*'+,-! +70!
B&%+!%*))0%%(*3!&(!301.0,%7$/%!$%!/&%%$230C!301.0,%7$/!%71,0.!20+600'!/*23$)!
1.B$'$%+,1+$&'!1'.!%&)$13!$'$+$1+$#0=!!D71,0.!301.0,%7$/!+71+!0'1230%!+70!)$+$E0',-!
0)&'&B$)!1'.!%&)$13!.0#03&/B0'+=!
! A0!203$0#0!$'!+70!0#&3*+$&'1,-!)71,1)+0,!&(!0)&'&B$)!.-'1B$)%!�,!51!
7$%+&,$)138!B0+7&.&3&F$)13!$'.$#$.*13$%B4!/1,+$)*31,3-!+70!'0&)31%%$)13!)&')0/+$&'%!
?G
&(!/0,(0)+!B1,;0+%!1'.!+70!20'0#&30'+!/31''0, =!9&3$+$)134!0)&'&B$)!1'.!%&)$13!
$')0'+$#0%!+71+!F*$.0!+70!1)+$&'!&(!1F0'+%=!A0!$'%$%+!H!/1,1/7,1%$'F!I&,+7!H!+71+!+70!
?J
2-! +70! 61-! +71+! $'%+$+*+$&'%! 0#&3#0 =! A0! 1,0! '&+! &'3-! %1-$'F! +71+! 1'! 0)&'&B-!
)1''&+!(*')+$&'!6$+7&*+!1'!$'%+$+*+$&'13!(,1B06&,;4!2*+!+71+!0)&'&B$)!,0%*3+%!6$33!
.0/0'.4!(*'.1B0'+133-4!&'!+70!)1/1)$+-!+&!),01+0!1'!$'%+$+*+$&'13!(,1B06&,;!+71+!
1)+%!1%!1!.,$#$'F!(&,)0!(&,!#$+13$+-!1'.!),01+$#$+-=
! K'! +7$%! %0'%0! 60! 1,0! ,0)&F'$E$'F! +70! #13*0! &(! +70! 5$'%+$+*+$&'13$%+8!
,0)&BB0'.1+$&'%!+71'!1%!1!2&.-!&(!+7&*F7+!6$+7!0'&*F7!)1/1)$+-!+&!20)&B0!1!
+70&,0+$)13!(,1B06&,;!&(!,0(0,0')0=!"%!1!)&'%0L*0')0!&(!+70!/&3$+$)134!%&)$13!1'.!
0)&'&B$)!+,1'%(&,B1+$&'%!+71+!1,0!+1;$'F!/31)04!+70!%+1+0!71%!1'!0#0,!F,&6$'F!
,&30!$'!F�,'$'F!1'!0#0,!B&,0!)&B/30M!,013$+-=!!K'+0,#0'+$&'$%+!1//,&1)70%!)1'!
+1;0!&'!B1'-!(&,B%4!1%!)1'!20!6$+'0%%0.!$'!+70!#1,$0+$0%!&(!0)&'&B$)!%-%+0B%!
?O
6$+7$'! N*,&/0=! "'! 0#&3*+$&'1,-! #$%$&'! &(! 0)&'&B$)! 1)+$#$+- 71%! 0'1230.! +70!
#$%$&'%!/,0%0'+=!D*)7!1'!1//,&1)7!71%!0'1230.!+70!P1%L*0!Q&*'+,-!+&!1.&/+!
1!#$%$&'!+71+!+1;0%!$'+&!1))&*'+!$'%+$+*+$&'13$%+!1%/0)+%!+&!1,+$)*31+04!0M/31$'!1'.!
B1'1F0!&*,!0)&'&B$)!,013$+-4!1%!%00'!$'!+70!P1%L*0!K''+$&'!D-%+0B=!
! K'%+$+*+$&'13!)71'F0!$%!1!(*'.1B0'+13!.,$#$'F!(&,)0!(&,!.0#03&/B0'+4!1'.!$%!
+70!(,*$+!&(!$'+0,1)+$&'!20+600'!$'%+$+*+$&'%!1'.!&,F1'$E1+$&'%!RF,&*/%!&(!$'.$#$.*13%!
*'$+0.!6$+7!1!)&BB&'!/*,/&%0S!$'!1,01%!&(!*')0,+1$'+-!1'.!)&B/0+0')0=!P*+!60!
B*%+!'&+!(&,F0+!+71+!+&!20!0((0)+$#04!$'%+$+*+$&'%!B*%+!20!1))0/+0.!1'.!%&)$133-!
,0)&F'$E0.=! "%! T,$&3! /&$'+%! &*+4! $'%+$+*+$&'13! .0#03&/B0'+! /&3$)$0%! +71+! B0,03-!
32. !"#$%&'($%")*+%&"+","+-%&*.#-/*-%0*1-%"02"*"-*$%-"30#*1$%%-"*4,$#$%"00*"305*6+((*
78
.,%1"+-%*1-##01"(5 9* :%* "3+&* &0%&0;* 0$13* 01-%-/5;* +%1(,<+%4* "30* =$&>,0*
&-1+$(* %<* 1-%-/+1* 0$(+"59* 3$#0<* ,@(+1*0$<0#&3+'* -//+""0<* -* 0-'(0* %<* 30+#*
$ 0 # ? ' ( 1 " ' $ " *
60((A@0+%4;* "-40"30#* 6+"3* $%* ,%0>,+B-1$(* 1-//+"/0%"* "-* @,+(<+%4* $* &"#$"04+1*
',@(+1A'#+B$"0* $((+$%10* "-* 40%0#$"0* 60$("3* $%<* '#-4#0&&;* 3$&* 0%$@(0<* "3+&*
=$&>,0*C-,%"#5*"-*@-$&"*$*B0#5*'-60#.,(*"#$%&.-#/$"+B0*(0B0#9
!!!"#"$"%&''()'*+)")&"),*"-*./"*%&+&'0
* D%* /$%5* -11$&+-%&* #,%%+%4* $4$+%&"* "30* 4#$+%* $4$+%&"* -.* %0-(+@0#$(*
+%"0((01",$(* $%<* '-(+"+1$(* "3-,43"* '#0B$+(+%4* +%* ?'$+%* $%<* E,#-'0* &+%10* "30*
FGH8&;*"30*=$&>,0*C-,%"#5*3$&*/$<0*$*&,&"$+%0<*1-//+"/0%"*"-*+%<,&"#5*$%<*
"30*'#-<,1"+B0*01-%-/59**
* I0%060<*+%<,&"#+$(+J$"+-%;*1-//+"/0%"*"-*"013%-(-45*$%<*$&&-1+$"0<*
'-(+15;*$%<*&-1+$(*$6$#0%0&&*3$B0*$((*@00%*.-,%<$"+-%&*-%*63+13*"30*&"#$"04+1*
<0B0(-'/0%"*-.*"30*=$&>,0*C-,%"5*3$&*@00%*@,+("9**C-%"+%,0<*&,110&&*-.*"30*
1-//+"/0%"* "-* "30* #0$(* 01-%-/5* 3$&* @00%* <0'0%<0%"* -%* "3#00* K05* .$1"-#&L*
$1"+B0* +%<,&"#+$(* '-(+15* .-1,&0<* -%* $%* +%%-B$"+B0* 01-%-/5M* 1(,&"0#+J$"+-%* -.*
+%<,&"#5* +%* '#-<,1"+B0* 13$+%&M* $%<* "30* #-(0* -.* 4-B0#%/0%"* "-* .$1+(+"$"0* "30*
#0($"+-%&3+'*@0"600%*"30*01-%-/5*$%<*&-1+0"59
* N30*<01+<0<*1-//+"/0%"*"-*"30*!#0$(*01-%-/5)*3$&*@00%*"30*<#+B+%4*
.-#10* @03+%<* "30* =$&>,0* '-(+"+1$(* $%<* &-1+$(* '#-O01"9* * P,#"30#/-#0;* 630%*
!1"#"2,*"3&%(./"3).)*4"."5)-.)*60"7(),"8*0*5".+9":.%*5;
* N30*&,110&&*-.*"30*=$&>,0*C$&0*6-,(<*%-"*3$B0*@00%*'-&&+@(0*6+"3-,"*
',""+%4*'0-'(0*Q*/0%*$%<*6-/0%*"#0$"0<*0>,$((5*Q*$"*"30*10%"0#*-.*"30*'#-O01"9*
*
D%0*-.*"30*4#0$"0&"*.$+(,#0&*-.*%0-A(+@0#$(*01-%-/+1*$%<*'-(+"+1$(*"3-,43"*3$&*
@00%*+"&*$@$%<-%/0%"*-.*3,/$%+"5*"-*"30*+/',(&0&*-.*"30*/$#K0"9**R0$<+%4*"-*$*
'$#$<+4/*13$#$1"0#+J0<*@5*"30*&,440&"+-%;*!63$"*<-0&*+"*/$""0#*+.*'0-'(0*$#0*
3$B+%4*$*3$#<*"+/0;*+.*"30*01-%-/5*+&*<-+%4*60((9)*
33. ! "#! $%#&'()&*! +,! %-&./.0.#1! &23! .#)&'4/3#&)! %5! )36571%83'#/3#&*! &23!
9():43!;%4#&',!$%//.&&3<!&%!/($'%73$%#%/.$!-%6.$.3)!&2(&!<.<!#%&!6%%)3!).12&!
%5!.&)!-3%-63=!>)!?&.16.&0@A!-%.#&)!%4&*!BC3836%-/3#&!<%3)!#%&!$%#).)&!%5!236-.#1!
(!53D!.#<.8.<4(6)!&%!13&!'.$2!%'!$'3(&3!(!2(#<546!%5!(+)4'<!-'%&3$&3<!.#<4)&'.3)!
)%$.3&.3)*!./-'%8.#1!&23!6.83)!%5!&23!-%%'*!(66%D.#1!383',%#3!&23!%--%'&4#.&,!&%!
-'%1'3))!(#<!2(83!($$3))!&%!23(6&2!(#<!3<4$(&.%#=E!F23!<3836%-/3#&!%5!&23!
9():43!;%4#&',!2()!+33#!+()3<!4-%#!&23!$%#8.$&.%#!&2(&!&23!D3667+3.#1!%5!&23!
-3%-63!.)!(&!&23!23('&!%5!(#,!-%6.&.$(6*!3$%#%/.$!(#<!)%$.(6!-'%G3$&=
! ;%#)3:43#&6,*! D3! /4)&! $%#).<3'! &2(&! &23'3! .)! #%! 3$%#%/.$! -'%G3$&!
D.&2%4&! (! 6.53! -'%G3$&H! ! B(! /('I3&! D.&2%4&! 8(643)! .)! #%&! (! '3(6! /('I3&*! +4&! (#!
(4$&.%#=E! J%&! %#6,! D3'3! &23! $'3(&.%#! %5! (! )%$.(6! )&(&3! (#<! ($&.83! 3$%#%/.$!
-%6.$,!(!)4$$3))*!+4&!(6)%!(#!3))3#&.(6!$%/-%#3#&!%5!&23!)4)&(.#(+63!24/(#!
<3836%-/3#&! )&'(&31,=! ! F23! B9():43! $()3E! <3/%#)&'(&3)! &23'3! .)! '%%/! 5%'!
/.$'%3$%#%/.$!-%6.$.3)K!&2(&!D3!$(#!6%%I!&23!/('I3&!.#!&23!3,3*!D.&2%4&!2(8.#1!
&%!(8%.<!&23!1(03!%5!&23!-3%-63=!!L('!5'%/!.#8.&.#1!-()).83!'3).1#(&.%#!&%!&23!
6(.))30!5(.'3!<%$&'.#3*!&23!9():43!/%<36!'3-'3)3#&)!(#!36%:43#&!/(#.53)&(&.%#!
&2(&! BM0.#(! 3I.#30! 31.#(EK! BF23! ./-%)).+63! $(#! +3! ($2.383<! &2'%412! 2('<!
D%'INE
!"#"$%&'()*+%,-.%-/0"12%-/1/3"4-2"1--*+4/1*-
! ?36571%83'#/3#&*!4#<3')&%%<!()!&23!D.66.#1#3))!&%!/(I3!<3$.).%#)!(#<!
&23!$(-($.&,!&%!5($3!4-!&%!&23!'3)-%#).+.6.&,!%5!1%83'#(#$3*!2()!+33#!3))3#&.(6!
&%!&23!)4$$3))!%5!)4)&(.#(+63!24/(#!<3836%-/3#&=!!F23!9():43!$()3!-'3)3#&)!
2(83!+33#!('&.$46(&3<!(#<!./-63/3#&3<!5'%/!(!-('&.$46('!$%#$3-&.%#!%5!)3657
1%83'#/3#&=!
! ?&('&.#1!D.&2!&23!'3$%83',!%5!(4&%#%/,!&2'%412!&23!)&(&4&3!%5!O43'#.$(*!
>1'33/3#&! .#! &23! APPQ)! -'%8.<3<! &23! 9():43! ;%4#&',! D.&2! &23! $(-($.&,! &%!
/(I3!)4+)&(#&.(6!.#83)&/3#&)!.#!(!)%$.(6!)&(&3=!!R#6,!&2'%412!&23)3!&D%!-'.%'!
$%//.&/3#&)!D()!&23!9():43!;%4#&',!3#<%D3<!D.&2!&23!&3$2#.$(6!$(-($.&,!
34. !""#$%&'(")*+
, -$./01"2$%)3$)', !&))"', 3$&), (4".&'("), "%, ()&!'(")+, , 5)$, "/, '6$,
7)8$%4'&)8()1, /%"3, ")$, "/, 91.":&., &))7.4, ."!&.;<, '", '6&', "/, 9."!&., 3"2$4, '6$,
=>
+,?),@ABC,'6$,D"%.8,D&4,
=E
'".8, 943&.., (4, :$&7'(/7.; <, 87$, '", '6$, 1%"D'6, "/, ()'$%3$8(&'$, '$!6)"."1($4,
43&.., :$!&3$, 9#"44(:.$;=C
)"D, 97)(F7$;+, , G$&8()1, H'I$)(J$, '", 4'&'$, '6&', D"%.8, (4, 9/&!()1, '6$, !6&..$)1$,
"/,$2$%K'6()1,43&..;==+,,L'(.(M()1,4$./01"2$%)3$)'<,%""'$8,(),('4,"D),#&%'(!7.&%,
!7.'7%$<,'6$,N&4F7$,O"7)'%K,4$$J4,'",&!'(2$.K,$)1&1$,D('6,'6$,1.":&.,$!")"3K+
, P6$%$/"%$<,'6$,&82&)!$,"/,N&4F7$,4$./01"2$%)3$)'<,(),8$/$)4$,"/,'6$,
N&4F7$,#".('(!&.<,!7.'7%&.,&)8,$!")"3(!,(8$)'('K<,D&4,'6$,#%$%$F7(4('$,/"%,'6$,
47!!$44/7.,(3#.$3$)'&'("),"/,&,4'%&'$1K,"/,-74'&()&:.$,Q73&),R$2$."#3$)'+
35. !"#$%&"'%(")$"*+$,(-+.)/
0-1"2$3-+4%45-"
! "#$%&'(#)$**+!,--,.&/!',!'0&!'0&.#.!0&*/!1+!2$+&3!#4!0#.!5&**634,54!
;<
5,(3!70&!8,$/!',!9&(:/,% =!,>(!?8,$/!%$-@!)0$('.!$!-$'0!',!-(,.-&(#'+A!!70#.!
B$.C>&!D,>4'(+A
! D,4'($(+!',!4&,6*#1&($*#.%=!'0&!B$.C>&!D,>4'(+!0$.!-(,E&4!'0$'!%,(&!
.'$'&=!#4!'0&!:,(%!,:!.&*:6F,E&(4%&4'=!0$.!1&&4!&..&4'#$*!',!#'.!&),4,%#)!$4/!
.,*#/$(#'+GA! ! 2,5&E&(=! #4! '0&! HI.'! )&4'>(+! '0&! B$.C>&! D,>4'+! #.! 1&F#44#4F! ',!
#/&4'#:+!'0&!*#%#'$'#,4.!,:!&J#.'#4F!-,*#'#)$*!$4/!*&F$*!$F(&&%&4'.A!!70&!/#::&(&4'!
&.'$1*#.0&(! ,:! (&F>*$'#,4.! $4/! ;K
#4:($.'(>)'>(&! ,-&($',(! $(&! ',/$+! %>)0! %,(&!
#%-,('$4'!'0$4!'0#('+!+&$(.!$F, A!!70&(&!#.!)*&$(!4&&/!:,(!$!(&.-,4.#1*&!$4/!
&$(4&.'! /#.)>..#,4! ),4)&(4&/! 5#'0! '0&! %,/&(4! )0$**&4F&.! ,:! B$.C>&! .&*:6
F,E&(4%&4'A
L>(,-&$4! D,%%#..#,4G.! M0#'&! N$-&(! ,4! L>(,-&$4! O,E&(4$4)&A! 70&! -$-&(!
P4'&F($'#,4A!!70&!-$-&(!$('#)>*$'&.!$!4&5!:,(%!,:!L>(,-&$4!F,E&(4$4)&;Q!'0$'!
%$J#%#R&.! )#'#R&4! -$('#)#-$'#,4! $'! $**! *&E&*.! ,:! ->1*#)! $/%#4#.'($'#,4A! N(#E$'&!
)#'#R&4.0#-GA
! 70&!#4'&(&.'!,:!'0&!B$.C>&!#4.'#'>'#,4.!#4!'0&!4&5!%,/&*!,:!L>(,-&$4!
;S
'0&!D,%%>4#'+!,:!'0&!B$.C>&!D,>4'(+ =!$--(,E&/!1+!$1.,*>'&!%$T,(#'+!#4!'0&!
$4/!F,,/!$/%#4#.'($'#,4@!5#'0!'0&!?-$('#)#-$'#,4!,:!)#E#*!.,)#&'+@!#4!->1*#)!$::$#(.!
$.!'0&!&..&4'#$*!&E,*>'#,4!4&)&..$(+!:,(!),%-&'&4'!B$.C>&!.&*:6F,E&(4%&4'A!U'!
'0&!/$54!,:!$!4&5!&($=!'0&!B$.C>&!D,>4'(+!(&C>#(&.!F(&$'&(!.&*:6F,E&(4%&4'!',!
%&&'!&%&(F#4F!)0$**&4F&.!$4/!.>.'$#4!#'.!$/E$4)&%&4'!',5$(/.!.>.'$#4$1*&!
0>%$4!/&E&*,-%&4'A!
36. !"#$%&"'%(")$"*+$,(-+.)/"
0-1"2-3456$7-+8%89-
! "#$%&'(! &'! )&'*! +,#! -.'-#/+0$1! /$%$*&()! -,$'(#! +,$+! +,#! '#2!
67
30%./#$'! -01+0%#! .4! (.5#%'$'-# ! %#/%#8#'+89! 2#! /0+! 4.%2$%*! +,#! 4.11.2&'(!
:;! <&5#'! +,#! 4#*#%$1! '$+0%#! .4! +,#! "$8=0#! >.0'+%?9! -.'8.1&*$+&.'! .4! +,#! !
&'+#%@!&'8+&+0+&.'$1&8)!.%!-.@/$%+&-&/$+&.'!.4!+,#!+,%##!1#5#18!.4!"$8=0#!&'8+&+0+&.'8!
&'!+,#!/1$''&'(9!#A#-0+&.'!$'*!$88#88)#'+!.4!/0B1&-!/.1&-
C;!D'-%#$8#*!&'+#%'$1!.%!&'+#%@*#/$%+)#'+$1!-..%*&'$+&.'!.4!8#-+.%$1!/.1&-!&'!
.%*#%!4.%!(.5#%')#'+!$-+&.'!+.!$-,#!-.)/%#,#'8&5#!+%$'85#%8$1!$-+&.';!
E;!D'+#(%$+&.'!.4!-&+&F#'!&'&+&$+&5#89!+,#!8#$%-,!4.%!-.'8#'808!.%!/%.B1#)!8.15&'(!
$//%.$-,#89!$'*!/$%+&-&/$+&.'!.4!-&5&1!8.-&#+?9!#-.'.)&-!$'*!8.-&$1!$(#'+8!&'!
+,#!*#8&('!/%.-#88!.4!/0B1&-!/.1&-
G;! D'8+&+0+&.'$1! 1.?$1+?9! -.! %#8/.'8&B&1&+?! .4! $(#'+8! $'*! -&5&1! 8.-&#+?! .%($'&F#*!
&'! +,&8! /$%+&-&/$+&5#! *&)#'8&.';! H,&8! 2&11! %#=0&%#! +,#! #A&8+#'-#! .4! &'&+&$+&5#9!
-.'801+$+&.'!$'*!*#B$+#!4.%0)8!4.%!8.-&.@#-.'.)&-!$(#'+8!+,$+!./#%$+#!0'*#%!
+,#!/%&'-&/1#8!.4!(.5#%'$'-#;
I;!H,&8!%#=0&%#8!/#%4#-+&'(!B$8&-!)#+,.*.1.(?!+.!'.%)$1&F#!<.5#%')#'+!$-+&.'!
&'-.%/.%$+&'(!+,#!-.'8+&+0#'+!$8/#-+8!.4!/1$''&'(J!&+8!-$08#!.%!.%&(&'K!/%#/$%$+&.'!
.4!/.+#'+&$1!&)/$-+8!$'*!$1+#%'$+&5#!$-+&.'!B$8#*!.'!$'!$'$1?8&8!$'*!*&$('.8&8!
.4!+,#!&'&+&$1!8&+0$+&.'!$'*!/%#8#'+!$'*!40+0%#!&'+#%#8+8K!*#-&8&.'!)$L&'(!$8!$!
/%.-#88!+.!8#1#-+!$1+#%'$+&5#8!$'*!/%#/$%#!$'*!&)/1#)#'+!8+%$+#(!+.!%#$-,!
/.1&-
6;! M*./+&.'! .4! )#$80%#8! +,$+! )$L#! &+! /.88&B1#9! B#?.'*! )#+,.*8! +.! %#5!
(.5#%')#'+$1! *#-&8&.'8! 4.%#8##'! &'! +,#! 1#($1! -.*#! $'*! 40'-+&.'8! +.! -.'+%.1!
N#(&81$+&5#! /.2#%9! +.! #'80%#! +,#! *.0B1#! .BO#-+&5#! .4! -.'801+&'(! -&5&1! 8.-&#+?!
$'*!8.-&$1!&'+#%1.-0+.%89!$'*!+.!-$%%?!.0+!80%5#&11$'-#!$'*!4.%!-&+&F#'8!.%!'.'!
&'8+&+0+&.'$1! B.*! +.! &'+#%%.($+#! +,#! <.5#%')#'+! $+! $'?! ).)#'+9! $B.0+! +,#!
$-+&.'8!/1$''#*!+.!B#!#A#-0+#*!$--.%*&'(!+.!/0B1&-!/.1&-
37. !"# $%&'# (&))# *+,*+'+-.# -/*01)&2&-3# .%+# ,/''&4&)&.5# /6# 7&'81)&2&-3# +19%# 1-:#
&0,*/7+0+-.#,*/9+''+'#./#,84)&9#,/)&9&+';#9/-9+,.&/-#/6#,84)&9#,/)&9&+'<#9%/&9+#
/6# &-'.*80+-.'# 1-:# 1,,)&91.&/-# .%+*+/6# ./# *+19%# .%+# 3/1)'<# 9/008-&91.&/-# /6#
,/)&9&+'#./#'/9&+.5<#/,+-#:+41.+#(&.%#'/9&+.5<#+.9"""
="#>-/.%+*#-+9+''1*5#:&0+-'&/-#/6#?1'@8+#3/7+*-1-9+#9/-'&'.'#/6#1:71-9&-3#
&-#.%+#&-.+3*1.&/-#/6#.%+#)+31)#9/:+#/6#.%+#?1'@8+#A/8-.*5#6/*#,84)&9#,/)&9&+'#
.%1.#*+@8&*+#*+38)1.&/-'<#&-.*/:89&-3#&-#.%+#,)1--&-3#/6#B/7+*-0+-.#)+3&')1.&7+#
&-&.&1.&7+'# 1-:# &-# .%+# )+3&')1.&7+# ,*/9+''# &-# 3+-+*1)<# &0,*/7+0+-.'# :&*+9.+:#
1.# 381*1-.++&-3# .%+# 9/**+9.# 9/-9+,.&/-# /6# ,/)&9&+'<# .%+# '+)+9.&/-# /6# &:+1)#
*8)+'"
C"# D-# .%+# '8,*1-1.&/-1)# 6*10+(/*E# (%+*+# .%+# )+3&')1.&7+# 68-9.&/-# /6# .%+#
B/7+*-0+-.# &'# &-'+*.+:# 1-:# (&.%# *+31*:# ./# .%+# 1-.&9&,1.&/-# 1-:# ,*/19.&7&.5#
1:7/91.+:# 6/*# .%+# ,/'&.&/-# /6# .%+# ?1'@8+# A/8-.*5# &-# F8*/,+<# &.# (&))# 4+#
-+9+''1*5#./#+G.+-:#.%+#,)1--&-3#/6#.%+#&-.+*-1)#)+3&')1.&7+#,*/9+''"#>))#.%&'#(&))#
3&7+#1#'/)7+-.#1-:#'8&.14)+#*+',/-'+#&-#.%+#?1'@8+#A/8-.*5#./#.%+#,*/9+''+'#
./# 9/H*+38)1.+# 1-:# 1''+''# .%+# ,/''&4&)&.&+'# /6# '+)6H*+38)1.&/-<# &-9/*,/*1.&-3#
1,,)&914)+#38&:1-9+#./#.%+#I+3&')1.&7+#J*/3*100+#/6#.%+#B/7+*-0+-.#.%1.#.%+#
K%&.+#J1,+*#/-#F8*/,+1-#B/7+*-1-9+#1-:#.%+#I&'4/-#'.*1.+35#&-9/*,/*1.+#./#
.%+#/,+-#0+.%/:#/6#9//*:&-1.&/-"
38. !"#$%&'("#)
! "#$%! &'%'(&)#! *&+,$-'%! (.! (/&$-0'-! #$%1+&2! +3! 1#'! 4(%56'! 7+6.1&2!
%$.)'!1#'!&')6*'&(1$+.!+3!%'8390+,'&.:'.1!(1!1#'!/'0$..$.0!+3!1#'!;<=>%?!(.-!
1#'!'@$%1'.)'!+3!A"#'!4(%56'!7(%'BC!(!)+:*&'#'.%$,'!:+-'8!+3!D6%1($.(/8'!
E6:(.! F','8+*:'.1G! ! H6$-'-! /2! '1#$)(8! (.-! -':+)&(1$)! *&$.)$*8'%! 1#'!
3+6.-(1$+.%! +3! 1#$%! .'I! :+-'8! I'&'! 8($-! /'1I''.! 1#'! 2'(&%! ;<<=! (.-! J>>;G!
K,'&!1#'!%6/%'56'.1!2'(&%!$1!1++L!%#(*'!/2!:'(.%!+3!1#'!%+)$+9*+8$1$)(898'0(89
')+.+:$)!$.$1$(1$,'%!1#(1!I'&'!3+&:(882!*&'%'.1'-?!-'/(1'-!(.-!-':+)&(1$)(882!
(**&+,'-!/2!1#'!$.%1&6:'.1%!+3!4(%56'!%'8390+,'&.:'.1G!!M88!+3!I#$)#!8'(-!1+!
I - The “Basque case”: an integral model based on principles
! "#'!A4(%56'!)(%'B!$%!1#'!&'%681!+3!1#'!-','8+*:'.1!+3!(!%+)$+9*+8$1$)(89
8'0(89')+.+:$)! :+-'8! /6$81! +.! 1#&''! *&$.)$*8'%C! 1#'! '1#$)(8! *&$.)$*8'?! 1#'!
)'.16&2! N! 1#'! 4(%56'! *'+*8'! #(,'! :(-'! )+.1$.6+6%! '33+&1%! 1+! /6$8-! O'()'!
/(%'-! 6*+.! %+)$(8! P6%1$)'?! (.-! $.-$,$-6(8! (.-! )+88')1$,'! 8$/'&12G! Q&+:! 1#'%'!
6.-'&%1(.-! *&+0&'%%G! M0($.%1! 1#'! *&',($8$.0! I$.-%! +3! .'+98$/'&(8$%:?! (! 12*'!
+3! *&+0&'%%! I(%! 3(,+&'-! $.! I#$)#! 1#'! %6/P')1! (.-! 36.-(:'.1(8! '.-! I(%! 1#'!
(-,(.)':'.1!+3!1#'!*'&%+.!$.!#(&:+.2!I$1#!1#'!'.,$&+.:'.1G
II – The Ethical Principle
! "#'! '%1(/8$%#:'.1! +3! 1#'! '1#$)(8! *&$.)$*8'! (%! +.'! +3! 1#'! 3+6.-(1$+.%!
+3!1#'!:+-'8!#(%!:(-'!-'3'.%'!+3!#6:(.!&$0#1%!1#'!)+:*(%%!3+&!1#'!()1$+.%!
+3! 4(%56'! %+)$'12! (.-! $1%! *6/8$)! $.%1$161$+.%G! ! R$+8'.182! (11()L$.0! #6:(.! 8$3'?!
!
:6&-'&?!'@1+&1$+.!+&!1+&16&$.0!%+:'+.'!I#+!1#$.L%!-$33'&'.182!$%!(!)&$:'!(0($.%1!
#6:(.$12?!6.())'*1(/8'!$.!(.2!%+)$'12G!S'%*')1!3+&!8$3'!(.-!1#'!#6:(.!&$0#1%!
+3!(88!:':/'&%!+3!%+)$'12!:6%1!/'!1#'!%1(&1$.0!*+$.1!3+&!(.2!*'()'!*&+)'%%G! !
T1#$)(8?!:+&(8!(.-!:(1'&$(8!&')+0.$1$+.!+3!1#'!,$)1$:%!+3!,$+8'.)'!(.-!1'&&+&$%:!
$%!(.!+/8$0(1$+.!3+&!4(%56'!$.%1$161$+.%!(.-!%+)$'12!(%!(!I#+8'G
!!!!! "#'&'3+&'?!$1!$%!(!)+.-$1$+.!%$.'!56(!.+.!1#(1!1#'!&'P')1$+.!+3!1#'!6%'!
+3!,$+8'.)'!(%!(.!$.%1&6:'.1!+3!*+8$1$)(8!()1$+.!$%!:(-'!*&$+&!1+!(.2!*&+)'%%!+3!
-$(8+06'-!'.-!1+!,$+8'.)'!:6%1!/'!-'3'.-'-G
39. III – The Democratic Principle
!"#$%&'()#$*+),!-.$/)'!$0#$-#1+2,34#56$7"31"$+,8.$%&'()#$'+13#!.$&,5$3!'$
9+83!31&8$-#9-#'#,!&!3:#'$1&,$!&1;8#<$="#!"#-$9+83!31&8$&2-##/#,!'$&-#$-#&1"#5$
+-$ ,+!6$ !"#$ :3+8#,1#$ +>$ ?@A$ /)'!$ 53'&99#&-<$ $ A!$ !"#$ '&/#$ !3/#6$ 7"#!"#-$ +-$
,+!$?@A$#B3'!'6$&2-##/#,!'$/)'!$0#$-#&1"#5$>+-$!"#$1+#B3'!#,1#$0#!7##,$!"#$
%&'()#$*+),!-.$&,5$!"#$C9&,3'"$C!&!#<
$ A$9-+>+),5$9+83!31&8$53&8+2)#$/)'!$!&;#$98&1#6$73!"$&,$&3/$!+$&1"3#:3,2$
&,$&2-##/#,!$+,$9+83!31&8$,+-/&834&!3+,$73!"$-#2&-5$!+$>),5&/#,!&8$#8#/#,!'$>+-$
+)-$'"&-#5$>)!)-#6$')1"$&'$35#,!3!.6$'+:#-#32,!.6$!#--3!+-3&83!.6$!"#$-32"!$!+$#B#-13'#$
'#8>D5#!#-/3,&!3+,6$!"#$9-#'#,1#$+>$!"#$%&'()#$*+),!-.$3,$?)-+9#$&,5$3,$!"#$
7+-856$ !"#$ 8#:#8$ +>$ 5#'3-#5$ '#8>D2+:#-,/#,!$ +-$ !"#$ >-&/#7+-;$ +>$ -#8&!3+,'"39$
0#!7##,$!"#$%&'()#$*+),!-.$&,5$!"#$C9&,3'"$C!&!#<$E+83!31&8$9-+08#/'$/)'!$
"&:#$9+83!31&8$'+8)!3+,'<
$ F-+/$!"#$'!-31!#'!$-#'9#1!$>+-$!"#$5#/+1-&!31$#''#,1#6$!"#$-#1+2,3!3+,$
+>$!"#$-32"!$+>$!"#$%&'()#$E#+98#$!+$5#135#$!"#3-$+7,$>)!)-#$&,5$!"#$1+//3!/#,!$
!+$#B#-13'#$!"3'$-32"!$!"-+)2"$9&1!$&,5$,#2+!3&!3+,$3'$!"#$;#.$!+$!"#$'+8)!3+,<
IV – Identity and Innovation
$ @"#$5#>#,'#$+>$!"#$%&'()#$35#,!3!.6$,+!$3,$+99+'3!3+,$!+$+!"#-$35#,!3!3#'$
0)!$3,$9&-!,#-'"39$73!"$!"#/6$3'$0#"3,56$,+!$+,8.$&$8#23!3/&!#$9+83!31&8$18&3/6$0)!$
&8'+$&$'+),5$/+5#8$+>$#1+,+/316$'+13&8$&,5$9+83!31&8$5#:#8+9/#,!<$$@"#$8&'!$
!"3-!.$ .#&-'$ "&:#$ '"+7,$ )'$ !"&!$ '#8>D2+:#-,/#,!$ DG0)-)H&0#!4&I$ 3,$ %&'()#$ J$
1&,$0#$&$'.,+,./$>+-$7#88D0#3,2<
$ @"#$ &5:&,1#$ +>$ !"#$ %&'()#$ E#+98#K'$ 35#,!3!.$ 3'$ 3,!-3,'31&88.$ 83,;#5$
!+$ &1"3#:3,2$ ')'!&3,&08#$ ")/&,$ 5#:#8+9/#,!6$ !"-+)2"$ !"#$ #B#-13'#$ +>$ $
'#8>D2+:#-,/#,!<$ %.$ 3,1+-9+-&!3,2$ &$ 9+'3!3:#$ +)!8++;$ +,$ 1"&,2#$ 7#$ "&:#$
0##,$&08#$!+$')-:3:#6$&5&9!$&,5$,+7$#:+8:#$!+$/##!$!"#$'+13&8$&,5$#1+,+/31$
1"&88#,2#'$+>$!"#$9&'!$!"3-!.$.#&-'<$$@"#$%&'()#$E#+98#$/)'!$8++;$!+$!"#$>)!)-#$
73!"+)!$>+-2#!!3,2$!"#3-$9&'!L$!"#.$/)'!$1+/9#!#$&,5$3,,+:&!#$0)3853,2$)9+,$
!"#3-$5##9$-++!'<$
40. V – Self-government and Sustainable Human Development
! "#$%&'()#*+,#+-! ./! -0#! 1#2! -(! (3*! 4(3+-*25/! /-*6-#'27! 83.$-! (+! #-0.46$!
6+9!9#,(4*6-.4!:*.+4.:$#/;!.-!./!6+!3,<*#$$6!()#*!-0#!*#/-!(%!-0#!#$#,#+-/!-06-!
#=:$6.+! -0#! 640.#)#,#+-! (%! /3/-6.+6<$#! 03,6+7! >0#! #).9#+4#! .+! -0./! :6:#*!
()#*!-0#!:#*.(9!?@@A&BCCA!&!/#$%&'()#*+,#+-!06/!<##+!6!/2+(+2,!(%!D#$$!<#.+'!
%(*!86/E3#!/(4.#-27!!
! >03/;! .+! :6*6$$#$! -(! -0#! 4(+4#:-! (%! +#D! F3*(:#6+! '()#*+6+4#;! +#D!
-0#! 86/E3#! 4.-.G#+/! 4(+%#*! (+! -0#.*! .+/-.-3-.(+/;! 6*#! #=#*4./#97! H%! F3*(:#6+!
'()#*+6+4#! ./! 6+! 6--#,:-! -(! *#/43#! -0#! F3*(:#6+! :*(I#4-;! ,61.+'! .-! ,(*#!
9#,(4*6-.4;!-0#+!86/E3#!'()#*+6+4#!#+-6.$/!-0#!*#+6.//6+4#!(%!-0#!%*6,#D(*1!
(%! 86/E3#! /#$%&'()#*+,#+-7! J! +#D! %*6,#D(*1! D0.40;! .+! (*9#*! -(! *#/:(+9! -(!
+#D!406$$#+'#/;!,3/-!4(+-6.+!'*#6-#*!6+9!,(*#!9.%%3/#9!:($.-.46$;!/(4.6$!6+9!
#4(+(,.4!:(D#*7
! >0#!*#/3$-/!(%!-0./!6+6$2/./!(%!-0#!86/E3#!46/#!/0(D!-06-!<2!%3*-0#*.+'!
/#$%! '()#*+,#+-! .+! 9#%#+/#! (%! -0#! 86/E3#! :($.-.46$;! 43$-3*6$;! 6+9! #4(+(,.4!
.9#+-.-2! 6! 3+.E3#! 9#)#$(:,#+-! ,(9#$! (%! 4(,:#-.-.)#+#//! .+! /($.96*.-2! 06/!
#,#*'#97!!>0#!86/E3#!,(9#$!(%!/3/-6.+6<$#!03,6+!9#)#$(:!,#+-!06/!<##+!
#4(+(,.4!6+9!/(4.6$!/#$%&'()#*+,#+-7!K3<$.4&:*.)6-#!/06*#9!$#69#*/0.:!./!+(-!
:(//.<$#!D.-0(3-!/340!6!9*.).+'!%(*4#7!!L.-0(3-!6!)./.(+;!6!K#(:$#!D.$$!:#*./07