&RSULJKW‹  1DWLRQDORPPLVVLRQRQWKH5ROHRI)LOLSLQR:RPHQ0DQLOD3KLOLSSLQHV3URGXFHGEWKH0RQLWRULQJDQG(YDOXDWLRQLYLVLRQ15):ZLWKIXQ...
%22.7+( 5$7,21$/(%(+,1 *(1(50$,1675($0,1*
$FURQPV   )::       )RXUWK:RUOGRQIHUHQFHRI:RPHQ                       *$$        *HQHUDO$SSURSULDWLRQV$FW                 ...
7+(5$7,21$/(%(+,1                                            7DEOHRIRQWHQWV*(1(50$,1675($0,1*,QWURGXFWLRQ                 ...
7                        8VHUV·*XLGH             KLV*XLGHERRNLVDLPHGSULPDULOWRKHOSWKH             DJHQFLHV¶*HQGHUDQGHYHORS...
)RFDO3RLQWVPHPEHUVRIWKHLU WHFKQLFDOZRUNLQJ             JURXSVDQGRWKHUUHODWHG*$FRPPLWWHHVGR     WKHLUPDLQVWUHDPLQJZRUN,WSUH...
ZKLFK     FDQEHXVHGWRWUDFNWKHLUSURJUHVVDQGSURYLGHVWKHP     ZLWKDKROLVWLFYLHZRIWKHJHQGHUPDLQVWUHDPLQJ     SURFHVV1H[WWR*$FR...
ZKRKDYHD     EDVLFNQRZOHGJHRI*$FRQFHSWV           %RRNLVDUHYLHZRIWKHFRQFHSWVEHKLQG*$     DQGJHQGHUPDLQVWUHDPLQJWKDW*$)RFDO...
%RRNLVWKHFRUHRIWKH*XLGHERRN,WGHVFULEHVWKHJHQGHUPDLQVWUHDPLQJHYDOXDWLRQIUDPHZRUN,WLGHQWLILHVVWDJHVRIJHQGHUPDLQVWUHDPLQJDQGW...
*                        ,QWURGXFWLRQ        HQGHUPDLQVWUHDPLQJLQJRYHUQPHQWZDVIRUPDOOLQWURGXFHGE        WKH1DWLRQDORPPLVVL...
LQDVDVWUDWHJWRLPSOHPHQWWKHJHQGHUHTXDOLW        SROLFRIWKH6WDWH6LQFHWKHQYDULRXVHIIRUWVKDYHEHHQ    XQGHUWDNHQEDJHQFLHVWRPDNH...
WRJHWKHUZLWKVRPHFRQVXOWDQWV    UHYLHZHGWKHPDLQVWUHDPLQJDFWLYLWLHVRIDJHQFLHVIURPWR    7KLVWHDPRI15):WHFKQLFDOVWDIIDQGFRQVXO...
7KH*0()ZDVYDOLGDWHGWKURXJKDFRQVXOWDWLRQZRUNVKRSLQYROYLQJWKH*$)RFDO3RLQWVRIVHOHFWHGDJHQFLHV ,WKDVEHHQSDUWLFXODUOXVHIXOWR15)...
/LPLWDWLRQV            15):UHFRJQL]HVWKDWWKH*0()FRQWLQXHVWRHYROYHWREHWWHU    FDSWXUHWKHPDLQVWUHDPLQJSURFHVV:KLOHLWSURYLGHV...
*7KH5DWLRQDOH%HKLQG*HQGHU0DLQVWUHDPLQJ         HQGHUDQGGHYHORSPHQW*$
LVDUHODWLYHOQHZGHYHORSPHQW         SDUDGLJP ,WLVQRWVXUSULVLQJWKHUHIRUHWKDWIHZLQJRYHUQPHQW         KDYHHQRXJKNQRZOHGJHPXFKP...
SHRSOHSDUWLFLSDWLRQDQGHPSRZHUPHQWDQGVWULYHVWRPHHWEDVLFQHHGV                        DQGLQWHUHVWVHYHORSPHQWLQWKLVVHQVHPHDQVG...
7KHVHFDSDFLWLHVDUHFUXFLDOIDFWRUVLQDSHRSOHFHQWHUHG GHYHORSPHQWDQGPXVWEHFRQVLGHUHGLQWKHGHYHORSPHQWIUDPHZRUN DQGDSSURDFKHVDVV...
GLVWULEXWLRQRIUHVRXUFHVLQDVRFLHW ,WPXVWSURWHFWSHRSOH¶VULJKWV    DQGFUHDWHRSSRUWXQLWLHVVRWKHFDQGHYHORSWKHLUFDSDFLWLHVDQG   ...
$QGLVFXVVLRQRQ*$VWDUWVZLWKWKH                GLIIHUHQFHEHWZHHQVH[DQGJHQGHU             6WLOOGHVSLWHJRYHUQPHQWHIIRUWVDQGJRR...
7KLVGLYLVLRQRU    VHJUHJDWLRQEVRFLHWUHVXOWHGWRGLIIHUHQFHVLQRSSRUWXQLWLHVEHWZHHQ    ZRPHQDQGPHQDQGLVLQH[WULFDEOOLQNHGWRWKHF...
6H[DQG*HQGHU        6H[ LVDQDWXUDOGLVWLQJXLVKLQJYDULDEOHEDVHGRQELRORJLFDOFKDUDFWHULVWLFVRIEHLQJDZRPDQRUPDQ ,WUHIHUVWRSKVLF...
*HQGHUUROHVH[SHFWDWLRQVDQGSHUFHSWLRQV    ER[ZRPHQDQGPHQLQWRVLWXDWLRQVWKDW   FRQVWUDLQWKHLUFDSDFLWWRGRDQGFDSDFLW   WREHKLQG...
*HQGHUUROHVH[SHFWDWLRQVDQGSHUFHSWLRQVER[ZRPHQDQGPHQ    LQWRVLWXDWLRQVWKDWFRQVWUDLQWKHLUFDSDFLWWRGRDQGFDSDFLWWREH    KLQGHU...
%HFDXVHRIJHQGHUFHUWDLQWUDLWV    FKDUDFWHULVWLFVDQGUROHVDUHDVFULEHGGLVWLQFWODQGVWULFWOWRZRPHQ    DQGPHQ$VDUHVXOWRIWKLVJHQGH...
RUWKHPDUJLQDOL]DWLRQRIZRPHQRFFXUV            3HUKDSVWKHPRVWSHUYDVLYHSHUVSHFWLYHWKDWKDVUHVXOWHGLQWKH        PDUJLQDOL]DWLRQ...
SUHVXPHGWKDWPDUULDJHDQGPRWKHUKRRGGRQRWUHTXLUHLW6KHLVFRQVWUDLQHGWREHLQWKHSULYDWHZRUOGRIWKHKHDUWKDQGKRPHSHUIRUPLQJUHSURGXFWL...
*HQGHUVXERUGLQDWLRQDGYHUVHODIIHFWVZRPHQDVHYLGHQFHGE     WKHVHLVVXHVFLWHGEWKH3KLOLSSLQH3ODQIRU*HQGHU5HVSRQVLYHHYHORS     PH...
IRUWR            (FRQRPLFPDUJLQDOL]DWLRQ:RPHQ¶VZRUNHVSHFLDOOWKHLU            UHSURGXFWLYHIXQFWLRQVRIFKLOGEHDULQJFKLOGUHDUL...
DQGFKLOGDQGIDPLOFDUHDUHVWLOOSULPDULOFRQVLGHUHG       DVDZRPDQ¶VFRQFHUQ7KLVUHVXOWVLQZRPHQ       H[SHULHQFLQJPXOWLSOHEXUGHQL...
Nächste SlideShare
Wird geladen in …5
×

The rarionale behind gender mainstreaming

316 Aufrufe

Veröffentlicht am

gender sensitive reference

Veröffentlicht in: Bildung
0 Kommentare
0 Gefällt mir
Statistik
Notizen
  • Als Erste(r) kommentieren

  • Gehören Sie zu den Ersten, denen das gefällt!

Keine Downloads
Aufrufe
Aufrufe insgesamt
316
Auf SlideShare
0
Aus Einbettungen
0
Anzahl an Einbettungen
3
Aktionen
Geteilt
0
Downloads
0
Kommentare
0
Gefällt mir
0
Einbettungen 0
Keine Einbettungen

Keine Notizen für die Folie

The rarionale behind gender mainstreaming

  1. 1. &RSULJKW‹ 1DWLRQDORPPLVVLRQRQWKH5ROHRI)LOLSLQR:RPHQ0DQLOD3KLOLSSLQHV3URGXFHGEWKH0RQLWRULQJDQG(YDOXDWLRQLYLVLRQ15):ZLWKIXQGLQJDVVLVWDQFHIURPWKHDQDGLDQ,QWHUQDWLRQDOHYHORSPHQW$JHQF(GLWHGE(OHQD0DVLOXQJDQ%RRN GHVLJQE)HUGL%ROLVOLV6WXGLR8QRRYHUGHVLJQE)DWLPD/DVD6WXGLR8QR3ULQWHGE9-*UDSKLF$UWV,QF
  2. 2. %22.7+( 5$7,21$/(%(+,1 *(1(50$,1675($0,1*
  3. 3. $FURQPV ):: )RXUWK:RUOGRQIHUHQFHRI:RPHQ *$$ *HQHUDO$SSURSULDWLRQV$FW *$ *HQGHUDQGHYHORSPHQW *0() *HQGHU0DLQVWUHDPLQJ DQG (YDOXDWLRQ)UDPHZRUN /*8 /RFDO*RYHUQPHQW8QLW 0( 0RQLWRULQJDQG(YDOXDWLRQLYLVLRQ 15): 1DWLRQDORPPLVVLRQRQWKH 5ROHRI )LOLSLQR:RPHQ 3)$ %HLMLQJ3ODWIRUPIRU$FWLRQ 33* 3KLOLSSLQH3ODQIRU*HQGHU 5HVSRQVLYHHYHORSPHQW 81($: 8QLWHG1DWLRQVRQYHQWLRQRQWKH (OLPLQDWLRQRI$OO)RUPVRI LVFULPLQDWLRQ$JDLQVW:RPHQLL
  4. 4. 7+(5$7,21$/(%(+,1 7DEOHRIRQWHQWV*(1(50$,1675($0,1*,QWURGXFWLRQ :KDWLVHYHORSPHQW HYHORSPHQWLV(YHUERG¶VRQFHUQ 6H[DQG*HQGHU *HQGHU1HHGV *HQGHUDQGHYHORSPHQW *HQGHU0DLQVWUHDPLQJ 5HIHUHQFHV LLL
  5. 5. 7 8VHUV·*XLGH KLV*XLGHERRNLVDLPHGSULPDULOWRKHOSWKH DJHQFLHV¶*HQGHUDQGHYHORSPHQW*$
  6. 6. )RFDO3RLQWVPHPEHUVRIWKHLU WHFKQLFDOZRUNLQJ JURXSVDQGRWKHUUHODWHG*$FRPPLWWHHVGR WKHLUPDLQVWUHDPLQJZRUN,WSUHVHQWVWKHJHQGHU PDLQVWUHDPLQJHYDOXDWLRQIUDPHZRUN*0()
  7. 7. ZKLFK FDQEHXVHGWRWUDFNWKHLUSURJUHVVDQGSURYLGHVWKHP ZLWKDKROLVWLFYLHZRIWKHJHQGHUPDLQVWUHDPLQJ SURFHVV1H[WWR*$FRQFHSWXDOFODULWDQG RULHQWDWLRQWKH*0()LVDQLPSRUWDQWWRROEHFDXVHLW SURYLGHVDIUDPHZRUNIRUJRDOVREMHFWLYHVDQGVWUDWHJLHV IRUDVVWHPDWLFJHQGHUPDLQVWUHDPLQJ,WFDQEHXVHGDV DSODQQLQJPRQLWRULQJDQGDVVHVVPHQWWRRO7KH *XLGHERRNZLOOEHPRVWXVHIXOWRWHFKQLFDOSHRSOHHJ SODQQHUVPRQLWRUVHYDOXDWRUVDQGDQDOVWV
  8. 8. ZKRKDYHD EDVLFNQRZOHGJHRI*$FRQFHSWV %RRNLVDUHYLHZRIWKHFRQFHSWVEHKLQG*$ DQGJHQGHUPDLQVWUHDPLQJWKDW*$)RFDO3RLQWVPXVW NHHSLQPLQGDVWKHSXUVXHWKHWDVNRIJHQGHU PDLQVWUHDPLQJLY
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
  10. 10. * ,QWURGXFWLRQ HQGHUPDLQVWUHDPLQJLQJRYHUQPHQWZDVIRUPDOOLQWURGXFHGE WKH1DWLRQDORPPLVVLRQRQWKH5ROHRI)LOLSLQR:RPHQ 15):
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
  12. 12. WRJHWKHUZLWKVRPHFRQVXOWDQWV UHYLHZHGWKHPDLQVWUHDPLQJDFWLYLWLHVRIDJHQFLHVIURPWR 7KLVWHDPRI15):WHFKQLFDOVWDIIDQGFRQVXOWDQWVLGHQWLILHG VSHFLILFDQGWDQJLEOHLQLWLDWLYHVXQGHUWDNHQEWKHP7KHVHLQLWLDWLYHV VHUYHG DVWKHGHVFULSWRUVRULQGLFDWRUVRIWKHLUJHQGHUPDLQVWUHDPLQJ HIIRUWV7KHWHDPDOVRLGHQWLILHGIRXUSRVVLEOHHQWUSRLQWVDQGWKH IRXUVWDJHVRIJHQGHUPDLQVWUHDPLQJ $OOWKHVHWRJHWKHULQWXUQ HYROYHGLQWRWKH*0()
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¶JHQGHUPDLQVWUHDPLQJHIIRUWVVRWKDWWKHZLOOEHDEOHWR JDXJHWKHLUSURJUHVVDQGZKDWVWLOOQHHGVWREHGRQH
  15. 15. *7KH5DWLRQDOH%HKLQG*HQGHU0DLQVWUHDPLQJ HQGHUDQGGHYHORSPHQW*$
  16. 16. LVDUHODWLYHOQHZGHYHORSPHQW SDUDGLJP ,WLVQRWVXUSULVLQJWKHUHIRUHWKDWIHZLQJRYHUQPHQW KDYHHQRXJKNQRZOHGJHPXFKPRUHFRQVFLRXVQHVVRILW7KH *$)RFDO3RLQWVZKRDUHVXSSRVHGWREH*$¶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
  17. 17. SHRSOHSDUWLFLSDWLRQDQGHPSRZHUPHQWDQGVWULYHVWRPHHWEDVLFQHHGV DQGLQWHUHVWVHYHORSPHQWLQWKLVVHQVHPHDQVGHYHORSPHQWRIWKH SROLWLFDOHFRQRPLFVRFLDOFXOWXUDODQGRWKHUGLPHQVLRQVRIDQ LQGLYLGXDO¶VOLIH HYHORSPHQWLVWKHVXVWDLQHGFDSDFLWWRDFKLHYHD EHWWHUOLIHIRU DOO7KLVPHDQVDQLQGLYLGXDOLVDEOHWROLYHORQJHUDQGFDQHQMRJRRG KHDOWKDQGQXWULWLRQHGXFDWLRQDVDWLVILQJMREDOHJDOVVWHPWKDW ZRUNVSDUWLFLSDWLRQLQSROLWLFDODFWLYLWLHVDQGJRYHUQDQFHDPRQJRWKHUV HYHORSPHQWWKXVSURYLGHVRSSRUWXQLWLHVWREURDGHQDQLQGLYLGXDO¶V FDSDFLWWRGRDQGFDSDFLWWREH 7KH FDSDFLW WR EH JLYHV WKHP WKH 7KHFDSDFLWWRGRUHIHUVWRKRZLQGL RSSRUWXQLW DQG UHVRXUFHV WR DWWDLQ WKHLU YLGXDOVDUHDEOHWRSHUIRUPWKHWKLQJVWKH DVSLUDWLRQVIRUDEHWWHUOLIHVXFKDV ZDQWWRGRLQSXUVXLWRI DEHWWHUOLIH,WLV WKHSRZHURUWKHDELOLWWR EHLQJNQRZOHGJHDEOHDQGVNLOOIXO GRSURGXFWLYHDQGVDWLVILQJZRUN EHLQJZHOOQRXULVKHG KDYHFRQWURORYHURQH·VLQFRPHDQG EHLQJFRQILGHQWRIRQH·V EHQHILWIURPLW RZQDELOLWLHV HQMRQDWXUHDQGWKHQDWXUDOHQYLURQ EHLQJFRPIRUWDEOHZLWK PHQW RQH·VDFKLHYHPHQWV SURFUHDWHDQGUHDUFKLOGUHQ LQGHSHQGHQFHDQGSRZHU FDUHIRURWKHUV WUDYHOLQVHDUFKRIRSSRUWXQLWLHV
  18. 18. 7KHVHFDSDFLWLHVDUHFUXFLDOIDFWRUVLQDSHRSOHFHQWHUHG GHYHORSPHQWDQGPXVWEHFRQVLGHUHGLQWKHGHYHORSPHQWIUDPHZRUN DQGDSSURDFKHVDVVKRZQEHORZ HYHORSPHQW,QGLFDWRUV DSDFLWLHV N (PSORPHQW , 7RGRSURGXFWLYHDQGVDWLVILQJZRUN N (GXFDWLRQDQG7UDLQLQJ , 7REHNQRZOHGJHDEOHDQGVNLOOIXO N 1XWULWLRQ , 7REHZHOOQRXULVKHG N +HDOWK , 7REHSKVLFDOODQGPHQWDOOKHDOWK N )HUWLOLW , 7REHDUDQGUHDUFKLOGUHQ N 0LJUDWLRQ , 7RWUDYHOLQVHDUFKRIRSSRUWXQLWLHVHYHORSPHQWLV(YHUERG¶VRQFHUQ HYHORSPHQWLVIRUDOODQGDVVXFKLWLVHYHUERG¶VFRQFHUQ(YHURQHLQVRFLHWUHJDUGOHVVRIDJHVH[UHOLJLRQHWKQLFLWRUFODVVKDVWKHULJKWWRHTXDORSSRUWXQLWLHVWRDFKLHYHDEHWWHUOLIH7KHHIIRUWVWRUHDOL]HGHYHORSPHQWLVDVKDUHGUHVSRQVLELOLWRIDOOPHPEHUVRIVRFLHWZKHWKHUWKHDUHEHQHILWLQJIURPLWRUDUHDIIHFWHGEWKHODFNRILW +RZHYHUFHUWDLQFRQGLWLRQVLQVRFLHWJHQHUDWHLQHTXDOLWLQRSSRUWXQLWLHV ,WLVJRYHUQPHQW¶VUROHEHFDXVHRILWVGXOPDQGDWHGDXWKRULWWRVHFXUHGHYHORSPHQWIRULWVFLWL]HQVDQGWRHQVXUHHTXLWDEOH
  19. 19. GLVWULEXWLRQRIUHVRXUFHVLQDVRFLHW ,WPXVWSURWHFWSHRSOH¶VULJKWV DQGFUHDWHRSSRUWXQLWLHVVRWKHFDQGHYHORSWKHLUFDSDFLWLHVDQG LQGLYLGXDOVWUHQJWKV *RYHUQPHQWFDQDOVRLQLWLDWHFKDQJHWRZDUGDJHQGHUUHVSRQVLYH GHYHORSPHQW)LUVWEHFDXVHLWKDVWKHPDFKLQHUDQGPHFKDQLVPVIRU UHDFKLQJRXWWRSHRSOH 7KHVHPHFKDQLVPVFRXOGGHWHUPLQHZRPHQ¶V QHHGVDGGUHVVWKHLUFRQFHUQVDQGSURPRWHWKHLUHIIHFWLYHSDUWLFLSDWLRQ LQFOXGLQJJLYLQJIHHGEDFNLILQGHHGJRYHUQPHQWSURJUDPVDQGSURMHFWV PDNHDGLIIHUHQFHLQWKHLUOLYHV6HFRQGJRYHUQPHQWKDVYDVWUHVRXUFHV DQGH[SHUWLVHWKDWDOORZLWWRVHWQDWLRQDOSULRULWLHVDQGGHWHUPLQHWKH H[WHQWRIWKHLUDOORFDWLRQIRUFRPSHWLQJVRFLDODQGHFRQRPLFGHPDQGV 15):
  20. 20. $QGLVFXVVLRQRQ*$VWDUWVZLWKWKH GLIIHUHQFHEHWZHHQVH[DQGJHQGHU 6WLOOGHVSLWHJRYHUQPHQWHIIRUWVDQGJRRGLQWHQWLRQVQRW HYHUERGHQMRVHTXDODFFHVVWRRSSRUWXQLWLHVDQGUHVRXUFHVIRUD EHWWHUOLIH6RFLHWGLYLGHVSHRSOHDFFRUGLQJWRWKHSULYLOHJHGDQGWKH GLVFULPLQDWHGWKHSRZHUIXODQGWKHSRZHUOHVVVKDSLQJZRPHQ¶VDQG PHQ¶VSRVLWLRQLQVRFLHWDVZHOO6DQWRVHWDO
  21. 21. 7KLVGLYLVLRQRU VHJUHJDWLRQEVRFLHWUHVXOWHGWRGLIIHUHQFHVLQRSSRUWXQLWLHVEHWZHHQ ZRPHQDQGPHQDQGLVLQH[WULFDEOOLQNHGWRWKHFRQFHSWVRIVH[DQG JHQGHU
  22. 22. 6H[DQG*HQGHU 6H[ LVDQDWXUDOGLVWLQJXLVKLQJYDULDEOHEDVHGRQELRORJLFDOFKDUDFWHULVWLFVRIEHLQJDZRPDQRUPDQ ,WUHIHUVWRSKVLFDODWWULEXWHVSHUWDLQLQJWRDSHUVRQ¶VERGFRQWRXUVIHDWXUHVJHQLWDOVKRUPRQHVJHQHVFKURPRVRPHVDQGUHSURGXFWLYHRUJDQV6H[GLIIHUHQFHVEHWZHHQZRPHQDQGPHQDUHQDWXUDO *HQGHURQWKHRWKHUKDQGUHIHUVWRWKHVRFLDOOGLIIHUHQWLDWHGUROHVFKDUDFWHULVWLFVDQGH[SHFWDWLRQVDWWULEXWHGEFXOWXUHWRZRPHQDQGPHQ ,WLVFUHDWHGSURGXFHGUHSURGXFHGDQGPDLQWDLQHGEVRFLDOLQVWLWXWLRQV,WLVDVHWRIFKDUDFWHULVWLFVWKDWLGHQWLILHVWKHVRFLDOEHKDYLRURIZRPHQDQGPHQDQGWKHUHODWLRQVKLSVEHWZHHQWKHP*HQGHUUROHVDQGDWWULEXWHVDUHQRWQDWXUDOQRUELRORJLFDOOJLYHQ6DQWRVHWDO
  23. 23. *HQGHUUROHVH[SHFWDWLRQVDQGSHUFHSWLRQV ER[ZRPHQDQGPHQLQWRVLWXDWLRQVWKDW FRQVWUDLQWKHLUFDSDFLWWRGRDQGFDSDFLW WREHKLQGHULQJLQWXUQWKHLUSRWHQWLDOVWR DWWDLQDIXOODQGVDWLVILQJOLIH
  24. 24. *HQGHUUROHVH[SHFWDWLRQVDQGSHUFHSWLRQVER[ZRPHQDQGPHQ LQWRVLWXDWLRQVWKDWFRQVWUDLQWKHLUFDSDFLWWRGRDQGFDSDFLWWREH KLQGHULQJLQWXUQWKHLUSRWHQWLDOVWRDWWDLQDIXOODQGVDWLVILQJOLIH +HUULQLQ15):
  25. 25. %HFDXVHRIJHQGHUFHUWDLQWUDLWV FKDUDFWHULVWLFVDQGUROHVDUHDVFULEHGGLVWLQFWODQGVWULFWOWRZRPHQ DQGPHQ$VDUHVXOWRIWKLVJHQGHUVWHUHRWSLQJJHQGHUELDV$XV$LG DQG15):
  26. 26. RUWKHPDUJLQDOL]DWLRQRIZRPHQRFFXUV 3HUKDSVWKHPRVWSHUYDVLYHSHUVSHFWLYHWKDWKDVUHVXOWHGLQWKH PDUJLQDOL]DWLRQRIZRPHQLVELRORJLFDOGHWHUPLQLVP ,WXSKROGVWKH EHOLHIWKDWEHFDXVHWKHUHSURGXFWLYH VVWHPLVEQDWXUHD FKDUDFWHULVWLFRIWKHIHPDOHVH[ZRPHQ¶VSKVLFDOPDNHXSLV FRQVHTXHQWOPRUHGHOLFDWH :RPHQDUHWKHUHIRUHYLHZHGDVEHLQJWRRZHDNWRWDNH RQVWUHQXRXVDFWLYLWLHVXQOLNHPHQZKRKDYHVWXUGLHUSKVLTXHV DQGDUHWKXVDEOHWRWDNHRQKHDYLHUWDVNV7KHPDVFXOLQH IHPLQLQHSHUVRQDOLWDQGUROHGLYLVLRQVZKLFKHPHUJHGIURPWKH SHUVSHFWLYHRIELRORJLFDOGHWHUPLQLVPDUHUHLQIRUFHGDQG WUDQVPLWWHGIURPRQHJHQHUDWLRQWRDQRWKHUWKHUHEUHSURGXFLQJD VRFLHWDOVVWHPWKDWGLVFULPLQDWHVDJDLQVWZRPHQDQGVXEVLVWVRQ WKHEDVLVRIGRXEOHVWDQGDUG +HUHLVDWSLFDOLOOXVWUDWLRQ%HFDXVHRIDZRPDQ¶VVROHDELOLW WRFRQFHLYHDQGJLYHELUWKWRDFKLOGKHUSULPDUUROHLQVRFLHWLVWREH DPRWKHU6KHLVWDXJKWHDUORQWKHIHPLQLQH WUDLWVQHHGHGWREHDJRRG KRPHPDNHUDQGQXUWXUHURIWKHKRPHWRSUHSDUHKHUIRUPDUULDJHDQG PRWKHUKRRG+HURSSRUWXQLWIRU IRUPDOHGXFDWLRQLVOLPLWHGVLQFHLWLV
  27. 27. SUHVXPHGWKDWPDUULDJHDQGPRWKHUKRRGGRQRWUHTXLUHLW6KHLVFRQVWUDLQHGWREHLQWKHSULYDWHZRUOGRIWKHKHDUWKDQGKRPHSHUIRUPLQJUHSURGXFWLYHIXQFWLRQV *HQGHUPDLQVWUHDPLQJLV DQDSSURDFKWRGHYHORSPHQWWKDW ORRNVPRUHFRPSUHKHQVLYHODWWKH UHODWLRQVKLSVEHWZHHQZRPHQDQG PHQLQWKHLUDFFHVVWRDQGFRQWURO RYHUUHVRXUFHVGHFLVLRQPDNLQJ EHQHILWVDQGUHZDUGVLQVRFLHW $PDQRQWKHRWKHUKDQGLVVXSSRVHGWREHWKHVROHHFRQRPLFSURYLGHUIRUWKHVXUYLYDORIWKHIDPLO+HLVRXWWKHUHLQWKHSXEOLFDUHQDWULQJWRHDUQDOLYLQJDQGGRLQJSURGXFWLYHZRUN ,QWHUPVRIYDOXHWKHUHSURGXFWLYHZRUNWKDWZRPDQGRHVLQWKHKRPHLVVHFRQGDUWRWKHSURGXFWLYHZRUNWKDWPDQGRHVRXWVLGHLWFRQWULEXWLQJWRKHUVHFRQGDUVWDWXVLQVRFLHWIRUPLQJWKHEDVLVIRUJHQGHUVXERUGLQDWLRQDQGSURGXFLQJWKH³ZRPDQ¶VSODFHLVLQWKHGRPHVWLFVSKHUHZKLOHPHQGRPLQDWHWKHSXEOLFDUHQD´RUZKDWLVDOVRWHUPHGDV³SURGXFWLYHUHSURGXFWLYHGLYLGH´DGLVWLQFWLRQWKDW KDVLPPHQVHLPSDFWRQWKHRYHUDOOGHYHORSPHQWRIZRPHQDQGPHQ33*
  28. 28. *HQGHUVXERUGLQDWLRQDGYHUVHODIIHFWVZRPHQDVHYLGHQFHGE WKHVHLVVXHVFLWHGEWKH3KLOLSSLQH3ODQIRU*HQGHU5HVSRQVLYHHYHORS PHQW33*
  29. 29. IRUWR (FRQRPLFPDUJLQDOL]DWLRQ:RPHQ¶VZRUNHVSHFLDOOWKHLU UHSURGXFWLYHIXQFWLRQVRIFKLOGEHDULQJFKLOGUHDULQJDQGIDP LOFDUHDQGKRXVHZRUNDUHQRWFRQVLGHUHGDVGLUHFWOFRQWULE XWLQJWRHFRQRPLFGHYHORSPHQW7KRVHZKRKDYHMREVRXWVLGH WKHKRPHVXIIHUVXFKGLVFULPLQDWLRQDVWKHODVWRQHWREH KLUHGEXW WKHILUVWWREHILUHGXQHTXDOSDIRUZRUNRIHTXDO YDOXHOLPLWHGDFFHVVWRWUDLQLQJDQGSURPRWLRQRSSRUWXQLWLHV RUORZHUVDODUVFDOHVIRUZRPHQGRPLQDWHGSRVLWLRQV 3ROLWLFDOVXERUGLQDWLRQ3RVLWLRQVRISRZHUDQGOHDGHUVKLS LQWKHKRPHFRPPXQLWZRUNSODFHDQGLQVRFLHWDWODUJH DUHJHQHUDOORFFXSLHGEPHQ:RPHQKROGLQJHOHFWLYH SRVLWLRQVIURPWKHQDWLRQDOGRZQWRWKHORFDOOHYHOVDUHLQ WKHPLQRULW *HQGHUVWHUHRWSLQJ6RFLHW¶VLQVWLWXWLRQVLQFOXGLQJWKH IDPLOVFKRROVJRYHUQPHQWWKHFKXUFKDQGPHGLDUHLQ IRUFHD ELDVHGSHUFHSWLRQRIZRPHQDVWKHZHDNHUVH[DQG WKHLUUROHVIXQFWLRQVDQGDELOLWLHVDVSULPDULOWLHGWRWKH KRPH 0XOWLSOHEXUGHQ(YHQLIZRPHQKROGMREVRXWVLGHWKH KRPHHVVHQWLDOOSXWWLQJLQWKHVDPHZRUNLQJKRXUVDVWKH PHQDQGSDUWLFLSDWHLQFRPPXQLWDFWLYLWLHVKRXVHZRUNDQG
  30. 30. DQGFKLOGDQGIDPLOFDUHDUHVWLOOSULPDULOFRQVLGHUHG DVDZRPDQ¶VFRQFHUQ7KLVUHVXOWVLQZRPHQ H[SHULHQFLQJPXOWLSOHEXUGHQLQWHUPVRIORQJHUKRXUV RIZRUNDQGJUHDWHUUHVSRQVLELOLWDWKRPHLQWKH FRPPXQLWDQGDWWKHZRUNSODFH 9LROHQFHDJDLQVW ZRPHQ:RPHQEHFRPHYLFWLPVRI DOOIRUPVRIYLROHQFHOLNHEDWWHULQJUDSHDQGVH[XDO KDUDVVPHQWVLPSOEHFDXVHWKHDUHZRPHQDQG RFFXSDVXERUGLQDWHVWDWXVLQVRFLHW 7KHVHJHQGHULVVXHVLIOHIWXQDWWHQGHGZLOONHHSPRVWZRPHQRXWRIWKHGHYHORSPHQWSURFHVVDQGZLOOUHVXOWLQDGHYHORSPHQWWKDWGRHVQRWUHVSRQGWRWKHQHHGVDQGFRQFHUQVRIKDOIRIDQDWLRQ¶VSRSXODWLRQ*HQGHU1HHGV *HQGHULVVXHVLQGHYHORSPHQWKDYHJHQHUDWHGJHQGHUQHHGVWKDWPXVWEHDGGUHVVHGWRHTXDOL]HWKHVWDWXVRIZRPHQDQGPHQLQVRFLHW7KHVHJHQGHUQHHGVDUHRIWZRNLQGVSUDFWLFDOQHHGV DQGVWUDWHJLFQHHGV 0RVHU
  31. 31. 7KHSUDFWLFDOQHHGVRIZRPHQDUHEDVHGRQWKHLUVRFLDOODFFHSWHGUROHVLQVRFLHW7KHGRQRWFKDOOHQJHWKHJHQGHUGLYLVLRQRIODERUQRUZRPHQ¶VVXERUGLQDWHVWDWXVLQVRFLHW %HFDXVHWKHDUH
  32. 32. SUDFWLFDOLQQDWXUHWKHVHQHHGVRIWHQUHIHUWRLQDGHTXDFLHV LQOLYLQJFRQGLWLRQVVXFKDVVDIHZDWHUKHDOWKFDUHDQG HPSORPHQW 0RVHU
  33. 33. 7KHDUHDOVRFRQFHUQHGLQ HDVLQJZRPHQ¶VPXOWLSOHEXUGHQVDQGVXSSRUWLQJWKHPLQ WKHLUPDWHUQDOIXQFWLRQV6DQWRVHWDO
  34. 34. 5HVSRQVHVWR SUDFWLFDOJHQGHUQHHGVLQFOXGHKHDOWKFDUHDQGQXWULWLRQ *$LVDERXW VHUYLFHVHGXFDWLRQVXSSRUWKRXVLQJSURMHFWVDQGWKHUHPRYLQJH[SOLFLW GHOLYHURIRWKHUEDVLFVHUYLFHVLPSOLFLWDFWXDODQGSRWHQWLDOJHQGHU 6WUDWHJLFQHHGVRQWKHRWKHUKDQGUHFRJQL]HELDVHVZLWKLQ ZRPHQ¶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³WRUHDFKVWUDWHJLFJHQGHU QHHGVWKURXJKERWWRPXSPRELOL]DWLRQDURXQGSUDFWLFDO JHQGHUQHHGV´0RVHUHWDO
  35. 35. *$LVDGHYHORSPHQWSHUVSHFWLYHWKDWUHFRJQL]HVWKHOHJLWLPDFRIJHQGHUHTXDOLWDVDIXQGDPHQWDOYDOXHWKDWVKRXOGEHUHIOHFWHGLQGHYHORSPHQWFKRLFHV ,WTXHVWLRQVVRFLHW¶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
  36. 36. RQVLGHUWKHIROORZLQJVWDWLVWLFVRQ)LOLSLQRZRPHQ GHYHORSPHQW :RPHQ 0HQ /DERUIRUFH SDUWLFLSDWLRQUDWH
  37. 37. (PSORPHQW3RSXODWLRQ 5DWLR
  38. 38. 3URSRUWLRQLQUG/HYHO3RVLWLRQV LQ*RYHUQPHQW
  39. 39. 3HUFHQWRI8QLRQ /HDGHUVKLS
  40. 40. 1XPEHURI(OHFWHG 3RVLWLRQV
  41. 41. $YHUDJH(DUQLQJV
  42. 42. 3 3 6RXUFH15):)DFWVKHHW
  43. 43. *HQGHUPDLQVWUHDPLQJKDV EHHQDGRSWHGEJRYHUQPHQWDVD SULRULWSURJUDP *HQGHU0DLQVWUHDPLQJ 7KH*$SDUDGLJPLVWUDQVODWHGIURPWKHRUWRSUDFWLFHWKURXJK WKHPDLQVWUHDPLQJVWUDWHJ ,QHYHUVRFLHWWKHUHLVDPDLQVWUHDPZKHUHFKRLFHVDUH FRQVLGHUHGDQGGHFLVLRQVDUHPDGHWKDWDIIHFWWKHHFRQRPLFVRFLDODQG SROLWLFDORSWLRQVRIDODUJHQXPEHURISHRSOH,WLVZKHUHDFWLYLWLHVDQG WKLQJVKDSSHQ8QLWHG1DWLRQV
  44. 44. 7KHPDLQVWUHDPPDLQFOXGH WKHIROORZLQJ6FKDONZNHWDO
  45. 45. WKHGLUHFWLRQVWKDWJRYHUQPHQWIROORZVLQWHUPVRI UHVRXUFHGLVWULEXWLRQDPRQJVRFLDODQGHFRQRPLF SURJUDPV WKHYLHZVDERXWJHQGHUUROHVSURPRWHGEFXOWXUH DQGUHOLJLRQ WKHDJHQGDRISROLWLFDOJURXSV
  46. 46. WKHKLULQJDQGSDSUDFWLFHVLQWKHSULYDWHVHFWRUDQG JOREDOWUDGHUHODWLRQVDQG SUDFWLFHVDQGDFWLYLWLHVRIPXOWLODWHUDOILQDQFLDO LQVWLWXWLRQVVXFKDVWKH:RUOG%DQNDQGWKH ,QWHUQDWLRQDO0RQHWDU)XQGDQGELODWHUDO DVVLVWDQFHDJHQFLHV 7KHPDLQVWUHDP³FRQVLVWVRIDQLQWHUUHODWHGVHWRIGRPLQDQWLGHDVDQGGHYHORSPHQWGLUHFWLRQVDQGWKHRUJDQL]DWLRQVWKDWPDNHGHFLVLRQVDERXWUHVRXUFHDOORFDWLRQ´7KHVHLGHDVGLUHFWLRQVDQGRUJDQL]DWLRQVLQWKHPDLQVWUHDPGHWHUPLQHZKRJHWVZKDWLQWKHDOORFDWLRQRIUHVRXUFHVDQGRSSRUWXQLWLHVIRUGHYHORSPHQW6FKDONZNHWDO
  47. 47. *HQGHUPDLQVWUHDPLQJLVDVWUDWHJ WRHQVXUHWKDWWKHFRQFHUQVIRUJHQGHUHTXDOLWLV FRQVLGHUHGLQWKHPDLQVWUHDP ,WLVDQDSSURDFKWKDWVLWXDWHVJHQGHUHTXDOLWLVVXHVDWWKHFHQWHURIEURDGSROLFGHFLVLRQVLQVWLWXWLRQDOVWUXFWXUHVDQGUHVRXUFHDOORFDWLRQVDQGLQFOXGHVZRPHQ¶VYLHZVDQGSULRULWLHVLQPDNLQJ
  48. 48. GHFLVLRQVDERXWGHYHORSPHQWJRDOVDQGSURFHVVHV6FKDONZNHW DO
  49. 49. ,WDLPVWRHQVXUHWKHUHFRJQLWLRQRIJHQGHULVVXHVE JRYHUQPHQWDJHQFLHVRQDVXVWDLQHGEDVLV,WVHHNVWRDFKLHYH HTXDOLWEHWZHHQZRPHQDQGPHQLQDOODVSHFWVRIOLIHWKURXJK HTXLW ,WLVDQDVVHVVPHQWRIWKHLPSOLFDWLRQVIRUZRPHQDQGPHQ RIVXFKSODQQHGJRYHUQPHQWDFWLRQVDVSROLFLHVOHJLVODWLRQDQG SURJUDPVDQGSURMHFWV /DVWOLWLVDVWUDWHJWRLQWHJUDWHZRPHQ DQGPHQ¶VFRQFHUQVDQGH[SHULHQFHVLQWKHGHVLJQ LPSOHPHQWDWLRQPRQLWRULQJDQGHYDOXDWLRQRISROLFLHV SURJUDPVDQGSURMHFWVLQDOOSROLWLFDOHFRQRPLFDQGVRFLDO DJHQGD 7KHJHQGHUPDLQVWUHDPLQJVWUDWHJLVQRWDQHQGLQLWVHOI ,WLVDVWUDWHJWRWUDQVIRUPVRFLHWDQGLWVLQVWLWXWLRQVVRWKH FRXOGZRUNIRUJHQGHUHTXDOLW 7KHLQWHUQDWLRQDOPDQGDWHVLQFOXGHWKHIROORZLQJ 7KH8QLWHG1DWLRQVRQYHQWLRQRQWKH(OLPLQDWLRQ RI$OO)RUPVRILVFULPLQDWLRQDJDLQVW:RPHQ 81($:
  50. 50. ZKLFKSURPRWHVHTXDOLWLQDOO ILHOGVDIILUPDWLYHDFWLRQIRUZRPHQDQGSURWHFWLRQ RIZRPHQIURPYLROHQFH %HLMLQJ3ODWIRUPIRU$FWLRQ3)$
  51. 51. RIWKH)RXUWK :RUOGRQIHUHQFHRQ:RPHQ)::
  52. 52. ZKLFK FDOOVIRUDFWLRQVRQDUHDVRIFRQFHUQDIIHFWLQJ ZRPHQDQG
  53. 53. RPPLWPHQWVPDGHLQVXFKJOREDO PHHWLQJVDVWKH81RQIHUHQFHRQ :RPHQ ,QWHUQDWLRQDORQIHUHQFHRQ 3RSXODWLRQDQGHYHORSPHQW WKH :RUOG6XPPLWIRU6RFLDO HYHORSPHQWDQGWKH+DELWDW RQIHUHQFH1DWLRQDOPDQGDWHVIRUJHQGHUPDLQVWUHDPLQJDUH 7KHHQGJRDORIJHQGHU 6HFWLRQ$UWLFOH,,RIWKH3KLOLSSLQH PDLQVWUHDPLQJLVWR RQVWLWXWLRQZKLFKVWDWHVWKDW³WKH6WDWH HQDEOHERWKZRPHQDQG UHFRJQL]HVWKHUROHRIZRPHQLQQDWLRQ PHQWRHTXDOO EXLOGLQJDQGVKDOOHQVXUHWKHIXQGDPHQWDO FRQWULEXWHWRDQG HTXDOLWEHIRUHWKHODZRIZRPHQDQGPHQ´ EHQHILWIURPWKHIUXLWV 5HSXEOLF$FWRUWKH:RPHQLQ RIGHYHORSPHQW HYHORSPHQWDQG1DWLRQ%XLOGLQJ$FWZKLFK SURPRWHVWKHLQWHJUDWLRQRIZRPHQDVIXOO DQGHTXDOSDUWQHUVRIPHQLQGHYHORSPHQW DQGQDWLRQEXLOGLQJ 6HFWLRQRIWKH*HQHUDO$SSURSULDWLRQV$FW *$$
  54. 54. IURPWRGLUHFWLQJ JRYHUQPHQWHQWLWLHVWRIRUPXODWHD*$SODQ WKHFRVWRIZKLFKVKDOOQRWEHOHVVWKDQILYH SHUFHQWRIWKHLUHDUOEXGJHWRWKHUZLVH NQRZQDVWKH*$%XGJHW
  55. 55. ([HFXWLYH2UGHUGLUHFWLQJDOOJRYHUQPHQW DJHQFLHVDQGORFDOOHYHOVWR³LQVWLWXWLRQDOL]H*$
  56. 56. HIIRUWVLQJRYHUQPHQWELQFRUSRUDWLQJ*$ FRQFHUQVLQWKHLUSODQQLQJSURJUDPPLQJDQG EXGJHWLQJSURFHVVHV´DQG /RFDO%XGJHW0HPRUDQGXPZKLFKGLUHFWVORFDO JRYHUQPHQWXQLWVWRPRELOL]HUHVRXUFHVWR PDLQVWUHDPDQGLPSOHPHQWJHQGHUDQG GHYHORSPHQWSURJUDPVXVLQJWKHGHYHORSPHQW IXQG :LWKWKHVHOHJDOEDVHVDVVXSSRUWDJHQFLHVFDQDOUHDGGHYHORSD *$SODQWRVHUYHDVDIUDPHZRUNDQGDQFKRUWRHIIHFWLYHOLPSOHPHQW WKHLUJHQGHUPDLQVWUHDPLQJHIIRUWV
  57. 57. 5HIHUHQFHV0RVHUDUROLQH21DQG/HY.DUHQ$7KHRUDQG 0HWKRGRORJRI*HQGHU3ODQQLQJ0HHWLQJ:RPHQ¶V 3UDFWLFDODQG6WUDWHJLF*HQGHU1HHGV 383ODQQLQJDQG :RUNLQJ3DSHU1R HYHORSPHQW3ODQQLQJ8QLW 8QLYHUVLWROOHJH/RQGRQ
  58. 58. 0RVHUDUROLQH21*HQGHU3ODQQLQJDQGHYHORSPHQW 7KHRU3UDFWLFHDQG7UDLQLQJ 5RXWOHGJH/RQGRQ1DWLRQDORPPLVVLRQRQWKH5ROHRI)LOLSLQR:RPHQ3KLOLSSLQH 3ODQIRU*HQGHU5HVSRQVLYHHYHORSPHQW 0DQLOD1DWLRQDORPPLVVLRQRQWKH5ROHRI)LOLSLQR:RPHQ)DFW6KHHW RQ:RPHQDQG0HQ0DQLOD15):DQGWKHDQDGLDQ,QWHUQDWLRQDOHYHORSPHQW$JHQF $6($15HJLRQDO3URJUDPPH5HVRXUFH3DFNDJHLQ *HQGHU0DLQVWUHDPLQJ 0DQLOD6DQWRV$LGD)(OHDQRURQGDDQG0DXOFH)1DWLYLGDG 7RZDUGD*HQGHU5HVSRQVLYH/HJLVODWLRQ 15):0DQLOD
  59. 59. 6FKDONZN-RKDQQD+HOHQ7KRPDVDQG%HWK:RURQLXN 0DLQVWUHDPLQJ$6WUDWHJIRU$FKLHYLQJ(TXDOLWEHWZHHQ :RPHQDQG0HQ 6ZHGLVK,QWHUQDWLRQDOHYHORSPHQW$JHQF 6HUUDQR5RVDQLWDDQG3HQQLH$]DUFRQGHODUX] :RPHQLQ3URMHFW 0DQDJHPHQW$RXUVH0DQXDO 15):DQG$XV$LG0DQLOD 7RUUHV$PDUOOLV75RVDULRGHO5RVDULRDQG5RVDOLQGD3LQHGD 2IUHQHR*HQGHUDQGHYHORSPHQW0DNLQJWKH%XUHDXFUDF *HQGHU5HVSRQVLYH$VRXUFHERRNIRUDGYRFDWHVSODQQHUVDQG LPSOHPHQWRUV 8QLWHG1DWLRQV )XQGIRU:RPHQDQG15): 0DQLOD 8QLWHG1DWLRQV:RPHQ¶V)XQG7KLQNLQJ:RPHQ
  60. 60. )RUVXJJHVWLRQVFRPPHQWVDQGIXUWKHULQIRUPDWLRQ SOHDVHFRQWDFW 0RQLWRULQJDQG(YDOXDWLRQLYLVLRQ1DWLRQDORPPLVVLRQRQWKH5ROHRI)LOLSLQR:RPHQ-3/DXUHO6W6DQ0LJXHO0DQLOD3KLOLSSLQHV 7HO
  61. 61. )D[
  62. 62. (PDLOPHG#QFUIZJRYSK :HEVLWHZZZQFUIZJRYSK

×