DOCSLIB.ORG

SUEZ 2007 Reference Document

Total Page：16

File Type：pdf, Size：1020Kb

Download full-text PDF Read full-text
SUEZ 2007 Reference Document 2007 REFERENCE DOCUMENT DELIVERING THE ESSENTIALS OF LIFE REFERENCE DOCUMENT 2007 INCORPORATION BY REFERENCE : Pursuant to Article 28 of European Regulation No. 809/2004 of April 29, 2004, this Reference Document incorporates by reference the following information to which the reader is invited to refer : 1with regard to the fiscal year ended December, 31, 2006: management report, consolidated financial statements and related Statutory Auditors’ reports, as set out on pages 117-130, 196- 307, 308 and 309, respectively, of the English version of the Reference Document filed with the AMF on April 4, 2007; 1with regard to the fiscal year ended December 31, 2005: management report, consolidated financial statements and related Statutory Auditors’ reports, as set out on pages 89-101, 154- 280 and 281-282, respectively, of the English version of the Reference Document filed with the AMF on April 11, 2006. The information included in these two reference documents, other than that referred to above, is replaced or updated, where applicable, by the information contained in this Reference Document. Both of these reference documents are accessible under the conditions described in Section 24 “Documents accessible to the public” of this Reference Document. This Reference Document contains forward-looking information in Sections 6.1 “Principal activities”, 12 “Information on trends” and 9.7 “Outlook for 2008”. This information does not constitute historical data and there is no assurance that such forward-looking facts, data or objectives will occur or be met in the future. Such information is subject to external factors, such as those described in Section 4 “Risk management”. Unless expressly stated to the contrary, the market data included in this Reference Document is based on internal estimates made by SUEZ using publicly available information The original French version of this Reference Document was filed with the French Financial Markets Authority (Autorité des Marchés Financiers – AMF) on March 18, 2008 , in accordance with the provisions of Article 212-13 of the General Regulations of the AMF. It may be used in support of a financial transaction if it is supplemented by an offering memorandum approved by the AMF. REFERENCE DOCUMENT 2007 1 CONTENTS 1 PARTIES RESPONSIBLE 9 MANAGEMENT REPORT 1 117 FOR THE REFERENCE DOCUMENT 5 9.1 Revenue and earnings trends 118 9.2 Business trends 119 9.3 Other income statement items 124 2 STATUTORY AUDITORS 7 9.4 Financing 125 2.1 Names and addresses 7 9.5 Other balance sheet items 126 2.2 Resignation/non-renewal of appointment 7 9.6 Parent company fi nancial statements 127 9.7 Outlook for 2008 128 3 SELECTED FINANCIAL INFORMATION 9 Key fi gures 10 10 CASH FLOW AND SHARE CAPITAL 131 10.1 Issuer capital 131 10.2 Source and amount of issuer cash 4 RISK FACTORS 13 fl ows and description of cash fl ows 132 4.1 Risk management 13 10.3 Financial structure and borrowing 4.2 Industrial risks and risks associated conditions applicable to the issuer 133 with the legal, regulatory, economic, 10.4 Restrictions regarding commercial and contractual environment 14 the use of capital 135 4.3 Legal risks 18 10.5 Planned sources of fi nancing to meet 4.4 Market risks 18 the commitments stemming from 4.5 Environmental risks 21 investment decisions 135 4.6 Insurance 24 4.7 Security and crisis management 26 11 INNOVATION, RESEARCH AND DEVELOPMENT, PATENTS AND LICENSE POLICY 137 INFORMATION ON THE COMPANY 29 5 11.1 Innovation initiative awards 140 5.1 History and growth of the company 29 11.2 The value-creation label 141 5.2 Investments 30 11.3 Patents and licenses 141 OVERVIEW OF ACTIVITIES 31 6 INFORMATION ON TRENDS 143 6.1 Principal activities 31 12 6.2 Main markets 72 6.3 Extraordinary events 76 PROFIT FORECASTS OR ESTIMATES 145 6.4 Dependence on patents, licenses 13 or contracts 76 6.5 Competitive position 76 14 CORPORATE GOVERNANCE 147 6.6 Sustainable development 14.1 Information concerning – environmental the management structures 147 and corporate information 76 14.2 Confl icts of interest in administrative, management and supervisory bodies and executive management 166 7 ORGANIZATION CHART 111 7.1 Simplifi ed organization chart 111 7.2 List of major subsidiaries 112 15 COMPENSATION AND BENEFITS 167 15.1 Compensation paid and benefi ts granted 167 8 REAL ESTATE PROPERTIES, PLANTS, Information on stock options FACILITIES 113 and bonus shares known 8.1 Major tangible assets 113 as Performance Shares 170 8.2 Environmental issues 115 15.2 Amount accrued 178 2 REFERENCE DOCUMENT 2007 16FUNCTIONING OF THE BOARD 21 ADDITIONAL INFORMATION 319 OF DIRECTORS AND MANAGEMENT 21.1 Amount of subscribed capital 322 STRUCTURES, ACTIVITIES 21.2 Incorporation documents and bylaws 333 OF THE BOARD OF DIRECTORS 179 16.1 Dates on which Directors’ terms of offi ce expire 181 MATERIAL CONTRACTS 337 16.2 Information on agreements 22 involving Directors 181 16.3 Information on the Audit Committee and the compensation Committee 182 23 INFORMATION FROM THIRD PARTIES, 16.4 Compliance with RULES OF corporate STATEMENTS MADE BY EXPERTS governance regulations in the issuer’s AND DECLARATIONS OF INTERESTS 339 home country 182 24 DOCUMENTS ACCESSIBLE 17 EMPLOYEES 183 TO THE PUBLIC 341 17.1 Number of employees and breakdown 24.1 Consultation of documents 341 by principal business segment 24.2 Corporate communication 341 and by site 183 17.2 Employee shareholdings and stock options 183 25 INFORMATION ON INVESTMENTS 343 17.3 Agreement with regard to employee List of the main consolidated companies ownership of the issuer’s capital 184 as of December 31, 2007 343 18 MAJOR SHAREHOLDERS 187 A APPENDICES TO THE REFERENCE 18.1 Breakdown of share capital DOCUMENT 345 at December 31, 2007 187 Report on internal control procedures 346 18.2 Different voting rights 190 Report of the Chairman of the Board 18.3 Control 190 of Directors of SUEZ 346 18.4 Agreement relating to change of control 190 Ordinary and Extraordinary Shareholders’ Meeting of May 6, 2008 356 Board of Directors’ report 357 19 RELATED PARTY TRANSACTIONS 191 Statutory Auditors’ special report 19.1 Joint ventures 191 on regulated agreements and commitments with related parties 363 19.2 Associates 192 Statutory Auditors’ Reports on the Shareholders’ Combined General Meeting of May 6, 2008 367 FINANCIAL INFORMATION CONCERNING Independent Expert’s report 370 20 THE ASSETS AND LIABILITIES, FINANCIAL POSITION AND RESULTS OF THE ISSUER 193 Resolutions 371 20.1 Consolidated fi nancial statements 194 20.2 Notes to the consolidated fi nancial statements 202 20.3 Verifi cation of yearly fi nancial historical data 311 20.4 Dividend distribution policy 313 20.5 Legal and arbitration proceedings 314 20.6 Signifi cant change in the fi nancial or commercial situation 318 REFERENCE DOCUMENT 2007 3 4 REFERENCE DOCUMENT 2007 1 PARTIES RESPONSIBLE FOR THE REFERENCE DOCUMENT 1 PARTY RESPONSIBLE FOR THE ACCURACY OF THE INFORMATION IN THE REFERENCE DOCUMENT Mr. Gérard Mestrallet, Chairman and Chief Executive Officer DECLARATION BY THE PERSON RESPONSIBLE FOR THE REFERENCE DOCUMENT I hereby certify, after having taken all reasonable measures to this financial position of the company and all the undertakings included effect, that the information contained in this reference document is, to in the consolidation as well as a description of the main risks and my knowledge, in accordance with the facts and makes no omission uncertainties to which they are exposed. likely to affect its import. I have received a completion letter from the Statutory Auditors stating I certify, to my knowledge, that the accounts have been prepared that they have audited the information contained in this reference in accordance with applicable accounting standards and give a fair document about the financial position and accounts and that they view of the assets, liabilities and financial position and profit or loss of have read this document in its entirety. the Company and all the undertakings included in the consolidation, Chairman and Chief Executive Officer and that the management report on pages 117 to 130 presents a fair review of the development and performance of the business and Gérard Mestrallet REFERENCE DOCUMENT 2007 5 1 PARTIES RESPONSIBLE FOR THE REFERENCE DOCUMENT 1 6 REFERENCE DOCUMENT 2007 2 STATUTORY AUDITORS 2 2.1 NAMES AND ADDRESSES 2.1.1 PRINCIPAL STATUTORY AUDITORS 1Ernst & Young et Autres 1Deloitte & Associés Represented by Mr. Pascal Macioce et Ms. Nicole Maurin Represented by Mr. Jean-Paul Picard and Mr. Pascal Pincemin 41, rue Ybry, 92576 Neuilly-sur-Seine Cedex 185, avenue Charles-de-Gaulle, BP 136, 92203 Neuilly-sur-Seine Appointed on June 22, 1983, its term of office was most recently Appointed on May 28, 1999, its term of office was most recently renewed by the Ordinary and Extraordinary Shareholders’ Meeting of renewed by the Ordinary and Extraordinary Shareholders’ Meeting of May 4, 2007 for a period of six years and will expire at the close of the May 13, 2005 for a period of six years and will expire at the close of 2013 Ordinary Shareholders’ Meeting held to approve the financial the 2011 Ordinary Shareholders’ Meeting held to approve the financial statements for the fiscal year ending December 31, 2012. statements for the fiscal year ending December 31, 2010. 2.1.2 DEPUTY STATUTORY AUDITORS 1AUDITEX 1BEAS Faubourg de l’Arche – 11, allée de l’Arche, 92037 Paris La Défense 7-9, villa Houssay, 92200 Neuilly-sur-Seine Appointed on May 4, 2007 by the Ordinary and Extraordinary Appointed on May 28, 1999, its term of office was most recently Shareholders’ Meeting of the same date, its term of office will expire renewed by the Ordinary and Extraordinary Shareholders’ Meeting of at the close of the Ordinary Shareholders’ Meeting held to approve the May 13, 2005 for a period of six years and will expire at the close of financial statements for the fiscal year ending December 31, 2012, at the 2011 Ordinary Shareholders’ Meeting held to approve the financial the same time as the expiration of the term of office of Ernst & Young statements for the fiscal year ending December 31, 2010.
Load more

Recommended publications
  • Full Portfolio Holdings
    Hartford Multifactor International Fund Full Portfolio Holdings* as of August 31, 2021 % of Security Coupon Maturity Shares/Par Market Value Net Assets Merck KGaA 0.000 152 36,115 0.982 Kuehne + Nagel International AG 0.000 96 35,085 0.954 Novo Nordisk A/S 0.000 333 33,337 0.906 Koninklijke Ahold Delhaize N.V. 0.000 938 31,646 0.860 Investor AB 0.000 1,268 30,329 0.824 Roche Holding AG 0.000 74 29,715 0.808 WM Morrison Supermarkets plc 0.000 6,781 26,972 0.733 Wesfarmers Ltd. 0.000 577 25,201 0.685 Bouygues S.A. 0.000 595 24,915 0.677 Swisscom AG 0.000 42 24,651 0.670 Loblaw Cos., Ltd. 0.000 347 24,448 0.665 Mineral Resources Ltd. 0.000 596 23,709 0.644 Royal Bank of Canada 0.000 228 23,421 0.637 Bridgestone Corp. 0.000 500 23,017 0.626 BlueScope Steel Ltd. 0.000 1,255 22,944 0.624 Yangzijiang Shipbuilding Holdings Ltd. 0.000 18,600 22,650 0.616 BCE, Inc. 0.000 427 22,270 0.605 Fortescue Metals Group Ltd. 0.000 1,440 21,953 0.597 NN Group N.V. 0.000 411 21,320 0.579 Electricite de France S.A. 0.000 1,560 21,157 0.575 Royal Mail plc 0.000 3,051 20,780 0.565 Sonic Healthcare Ltd. 0.000 643 20,357 0.553 Rio Tinto plc 0.000 271 20,050 0.545 Coloplast A/S 0.000 113 19,578 0.532 Admiral Group plc 0.000 394 19,576 0.532 Swiss Life Holding AG 0.000 37 19,285 0.524 Dexus 0.000 2,432 18,926 0.514 Kesko Oyj 0.000 457 18,910 0.514 Woolworths Group Ltd.
    [Show full text]
  • Cuentas Anuales E Informe De Gestión Correspondientes Al Ejercicio 2009
    SOCIEDAD GENERAL DE AGUAS DE BARCELONA, S.A. CUENTAS ANUALES E INFORME DE GESTIÓN CORRESPONDIENTES AL EJERCICIO 2009 1 ÍNDICE Página Balances de Situación al 31 de diciembre de 2009 y 2008 ................................................................................ 3 Cuentas de Pérdidas y Ganancias correspondientes a los ejercicios anuales terminados el 31 de diciembre de 2009 y 2008 .................................................................................................. 4 Estados de Cambios en el Patrimonio Neto de los ejercicios anuales terminados el 31 de diciembre de 2009 y 2008 ................................................................................................. 5 Estados de Flujos de Efectivo correspondientes a los ejercicios anuales terminados el 31 de diciembre de 2009 y 2008 ..................................................................................................................... 6 1. Actividad de la Sociedad y Acuerdos de Principios entre accionistas de referencia ................................... 7 2. Bases de presentación de las cuentas anuales......................................................................................... 10 3. Dividendos y distribución de resultados..................................................................................................... 11 4. Normas de registro y valoración ................................................................................................................ 12 5. Inmovilizado intangible..............................................................................................................................
    [Show full text]
  • Antitrust & Competition Insight
    Antitrust & Competition Insight In association with Hogan & Hartson LLP December 2007 In association with: Contents Foreword Page 2 United States M&A Antitrust: A Round-up of 2007 Page 3 Regional Round-Ups Page 11 European M&A Antitrust: A Round-up of 2007 Page 14 Plotting the paths of the Tele Atlas/TomTom and Navteq/Nokia mergers Page 22 Live Deals Timetable Page 24 Part of The Mergermarket Group www.mergermarket.com 80 Strand 895 Broadway #4 Suite 2001 London, WC2R 0RL New York Grand Millennium Plaza United Kingdom NY 10003, USA 181 Queen’s Road, Central Hong Kong t: +44 (0)20 7059 6100 t: +1 212 686-5606 t: +852 2158 9700 f: +44 (0)20 7059 6101 f: +1 212 686-2664 f: +852 2158 9701 [email protected] [email protected] [email protected] Foreword Welcome to this eighth edition of the Antitrust & Competition Insight – brought to you by mergermarket in association with leading international law firm Hogan & Hartson LLP. The report that brings you an update on the key deals and gives a comprehensive round up of European M&A issues affecting M&A activity in North America, Europe antitrust developments, this can be found on page 14. In and beyond. We hope that this quarterly newsletter will the final article on page 22,dealReporters’s regulatory provide corporate, advisory and investor readers with timely, correspondents Sandra Pointel and Ben Bschor look at the informed and objective intelligence. European Commission and vertical integration in the portable navigation industry, In addition, the Antitrust & Competition Insight leverages off mergermarket’s sister company dealReporter – We hope you find this latest edition of interest.
    [Show full text]
  • Annual Report 2012
    Annual Report 2012 Groupe Bruxelles Lambert Online additional information www.gbl.be Investors information Additional information can be found on Online registration in order to receive the website, among which: investors information (notices, • Historical information of GBL press releases, ...) through the • The yearly and half-yearly reports and Company website. also quarterly press releases • Adjusted net assets on a weekly basis • The press releases • The portfolio Investor relations Axelle Henry [email protected] Tel.: +32 (0)2 289 17 17 Annual Report 2012 Overview of GBL 2 THE ESSENTIAL Message from the Chairman of the Board of Directors 4 Message from the CEO and the Managing Directors 6 Value creation 8 Highlights 10 Key fi gures 12 Risk management 14 Corporate and Social Responsibility 16 Evolution of the share in 2012 18 SHAREHOLDERS Distribution policy and proposed dividend 19 INFORMATION AND Investor relations 19 MARKET DATA Financial calendar 19 Market data and indicators 20 Resolutions proposed to Shareholders 22 Portfolio and adjusted net assets 24 ACTIVITY REPORT Consolidated fi gures IFRS (economic analysis) 28 Strategic investments 34 Total 34 GDF SUEZ 36 Lafarge 38 Pernod Ricard 40 Imerys 42 Suez Environnement 44 Breakdown of turnover by geographical area 46 Financial Pillar 47 Ergon Capital Partners 48 Sagard 49 Consolidated fi nancial statements 52 ACCOUNTS Condensed statutory balance sheet and income statement 100 AT 31 DECEMBER 2012 Dividend policy 102 Historical data 103 Corporate governance statement 106 CORPORATE Board of
    [Show full text]
  • Annual Report 2008-2009
    ANNUAL REPORT 2008 2009 ANNUAL REPORT 2008 2009 Contents Message From the Dean I 5 Bold Strides Forward I 6 Renewing Organizational Landscapes I 16 Beyond Theory to Practice I 26 Sustaining Relationships I 32 Financial Report I 40 Exhibits I 59 MESSAGE FROM THE The 2008-2009 academic year unfolded amid growing challenges DEAN in the global economic landscape. The climate of uncertainty that pervaded much of the world — coupled with the slow pace of recovery — nonetheless revealed new opportunities for IESE. With an entrepreneurial mindset, IESE aligned its portfolio of executive programs to current economic realities. Our program offerings responded to the wide-ranging questions of alumni and friends about how best to meet current challenges and prepare for the future. New and ongoing programs offered new perspectives, practical strategies, and encouraging support. The overall upswing in participation we saw this year refl ected, we believe, a global awareness of the need for new paradigms. Our response was to encourage business leaders to step back, take a fresh look, innovate and move forward with strength of purpose and optimism. At IESE, we have never been more acutely aware of the role companies play in fueling economic and social progress. We see it as our global social responsibility to develop business leaders with integrity and service orientation: leaders who hold themselves accountable, who value their people, and who recognize that personal and organizational development feed societal growth. As we continue to seize new opportunities for a better future, we are gratifi ed by the dedication of our superlative faculty, administrators, and staff.
    [Show full text]
  • Building Leading Companies Through Long-Term Engaged and Responsible Ownership
    Building leading companies through long-term engaged and responsible ownership Groupe Bruxelles Lambert Half-yearly report July 30, 2020 Privileged information - Regulated information as of June 30, 2020 2 GBL Half-yearly report as of June 30, 2020 Groupe Bruxelles Lambert (“GBL”) is an established investment holding company, with over sixty years of stock exchange listing, a net asset value of EUR 18 billion and a market capitalization of EUR 12 billion as of end of June 2020. GBL is a leading investor in Europe, focused on long-term and sustainable value creation and relying on a stable and supportive family shareholder base. GBL strives to maintain a diversified high-quality portfolio composed of global companies, leaders in their sector, in which it can contribute to value creation by being an engaged professional investor. GBL seeks to provide attractive returns to its shareholders through a combination of a sustainable dividend and growth in its net asset value. GBL is listed on Euronext Brussels (Ticker: GBLB BB; ISIN code: BE0003797140) and is part of the BEL20 index. 3 GBL Half-yearly report as of June 30, 2020 Half-yearly report as of June 30, 2020 Key information for shareholders 4 Message from Ian Gallienne, CEO of GBL Financial calendar • November 4, 2020: Results as of September 30, 2020 5 Key financial data • March 2021: Annual Results 2020 6 Highlights • April 27, 2021: Ordinary General Meeting 2021 8 Organisation chart and net asset value • Early May 2021: First quarter 2021 results 8 Organisation chart as of June 30, 2020 • End July 2021: Half-year 2021 results 8 Net asset value Note: the above-mentioned dates depend on the agenda of the Board of Directors meetings and are thus subject to change.
    [Show full text]
  • Portfolio of Investments
    PORTFOLIO OF INVESTMENTS Variable Portfolio – Partners International Value Fund, September 30, 2020 (Unaudited) (Percentages represent value of investments compared to net assets) Investments in securities Common Stocks 97.9% Common Stocks (continued) Issuer Shares Value ($) Issuer Shares Value ($) Australia 4.2% UCB SA 3,232 367,070 AMP Ltd. 247,119 232,705 Total 13,350,657 Aurizon Holdings Ltd. 64,744 199,177 China 0.6% Australia & New Zealand Banking Group Ltd. 340,950 4,253,691 Baidu, Inc., ADR(a) 15,000 1,898,850 Bendigo & Adelaide Bank Ltd. 30,812 134,198 China Mobile Ltd. 658,000 4,223,890 BlueScope Steel Ltd. 132,090 1,217,053 Total 6,122,740 Boral Ltd. 177,752 587,387 Denmark 1.9% Challenger Ltd. 802,400 2,232,907 AP Moller - Maersk A/S, Class A 160 234,206 Cleanaway Waste Management Ltd. 273,032 412,273 AP Moller - Maersk A/S, Class B 3,945 6,236,577 Crown Resorts Ltd. 31,489 200,032 Carlsberg A/S, Class B 12,199 1,643,476 Fortescue Metals Group Ltd. 194,057 2,279,787 Danske Bank A/S(a) 35,892 485,479 Harvey Norman Holdings Ltd. 144,797 471,278 Demant A/S(a) 8,210 257,475 Incitec Pivot Ltd. 377,247 552,746 Drilling Co. of 1972 A/S (The)(a) 40,700 879,052 LendLease Group 485,961 3,882,083 DSV PANALPINA A/S 15,851 2,571,083 Macquarie Group Ltd. 65,800 5,703,825 Genmab A/S(a) 1,071 388,672 National Australia Bank Ltd.
    [Show full text]
  • 31 March 2020 and Effective on Wednesday, 01 April 2020
    STANDARD ETHICS BELGIAN INDEX REVIEW – APRIL 2020 Standard Ethics has approved the following changes that will become effective after the close of business on Tuesday, 31 March 2020 and effective on Wednesday, 01 April 2020. Rating Changes (January 2020 – March 2020) 26/03/2020 – Solvay (ISIN: BE0003470755): upgraded from E+ to EE- (Outlook: Positive) Inclusion None Exclusion None Index Constituents and Weights from 01 April 2020: Rating Outlook Company ISIN Weights Rating Outlook Company ISIN Weights EE+ Cofinimmo BE0003593044 15,07% E+ KBC Group BE0003565737 2,82% EE+ Proximus BE0003810273 15,07% E+ UCB BE0003739530 2,82% EE+ Umicore BE0974320526 15,07% E+ Warehouses de Pauw (WDP) BE0003763779 2,82% EE Ontex Group BE0974276082 11,30% E Ageas BE0974264930 0,47% EE- pos. Solvay BE0003470755 8,47% E Colruyt BE0974256852 0,47% EE- argenx NL0010832176 7,53% E Galapagos BE0003818359 0,47% EE- Engie FR0010208488 7,53% E Groupe Bruxelles Lambert BE0003797140 0,47% E+ Ackermans V.Haaren BE0003764785 2,82% E Sofina BE0003717312 0,47% E+ Aperam LU0569974404 2,82% E Telenet Group BE0003826436 0,47% E+ ING Groep NL0011821202 2,82% E- AB Inbev BE0974293251 0,19% For inquiries or comments please contact the front office of Standard Ethics at the following e- mail address: [email protected] Important Legal Disclaimer. All rights reserved. Ratings, analyses and statements are statements of opinion as of the date they are expressed and not statements of fact. Standard Ethics' opinions, analyses and ratings are not recommen- dations to purchase, hold, or sell any securities or to make any investment decisions, and do not address the suitability of any security.
    [Show full text]
  • Utterly Uncompetitive - the Home Lands of Eternal Water Privatisations
    Public Services International Research Unit (PSIRU) www.psiru.org Utterly uncompetitive - The home lands of eternal water privatisations By David Hall and Emanuele Lobina March 2012 [email protected] and [email protected] 1. INTRODUCTION ............................................................................................................................................1 Table 1. Private water contracts – no competition ..........................................................................................1 2. MARSEILLE: A MICROCOSM ...................................................................................................................1 Chart A. Profitability of Société des Eaux de Marseille ..............................................................................2 3. COUNTRIES ....................................................................................................................................................2 3.1. THE UK: A COMPETITION-FREE ZONE.........................................................................................................2 3.2. SPAIN: LAND OF ETERNAL CONCESSIONS ...................................................................................................2 3.3. FRANCE: AN EXCLUSIVE AND SELF-PERPETUATING OLIGOPOLY ................................................................3 4. NOTES ..............................................................................................................................................................4 1. Introduction Private
    [Show full text]
  • Water Tower Tags
    Corporations / Agencies 1. The World Bank The World Bank is an international financial institution that was established at the Bretton Woods Conference in 1944 to help reconstruct post WWII Europe. For the past 50 years the World Bank has transitioned to providing loans to governments in developing countries in order to improve infrastructure. In theory this may sound innocuous, but World Bank policies have devastated local and indigenous communities and increased the developing world’s debt crisis. Indebted nations who wish to borrow money from the World Bank have to agree to a number of structural adjustment plans and privatization measures that have including the privatization of publicly owned water and sanitation utilities. As a governing body the World Bank is less than democratic. Decisions rest in the hands of members from wealthy nations and 51% of the funding for the World Bank comes from the US Treasury, making the World Bank an arm of US foreign policy. In short, the World Bank has escalated neo-liberal policies by promoting unfettered free markets, export-oriented economies, reduced protections for domestic industries, weakened labor laws, and slack environmental standards. 2. Veolia Environnement Veolia, based in France, and previously named Vivendi Environnement, is the largest water and waste-water corporation in the world and a major benefactor of World Bank privatization schemes. Veolia earned more than $48 billion in revenue in 2007 and operates in over 67 countries in Europe, North America, China, North Africa, and the Middle East where it services over 110 million people. Veolia’s US subsidiary Veolia Water North America is the largest water contractor in the US despite substandard service.
    [Show full text]
  • 28 June 2019 and Effective on Monday, 01 July 2019
    STANDARD ETHICS BELGIAN INDEX REVIEW – JULY 2019 Standard Ethics has approved the following changes that will become effective after the close of business on Friday, 28 June 2019 and effective on Monday, 01 July 2019. Rating Changes (April 2019 – June 2019) None Inclusion None Exclusion None Index Constituents and Weights from 01 July 2019 Rating Outlook Company ISIN Weights Rating Outlook Company ISIN Weights EE+ Cofinimmo BE0003593044 14,61% E+ KBC Group BE0003565737 2,74% EE+ Proximus BE0003810273 14,61% E+ Solvay BE0003470755 2,74% EE+ Umicore BE0974320526 14,61% E+ UCB BE0003739530 2,74% EE Bpost BE0974268972 10,96% E AB Inbev BE0974293251 0,46% EE Ontex Group BE0974276082 10,96% E Ageas BE0974264930 0,46% EE- argenx NL0010832176 7,31% E Colruyt BE0974256852 0,46% EE- Engie FR0010208488 7,31% E Galapagos BE0003818359 0,46% E+ Ackermans V.Haaren BE0003764785 2,74% E Groupe Bruxelles Lambert BE0003797140 0,46% E+ Aperam LU0569974404 2,74% E Sofina BE0003717312 0,46% E+ ING Groep NL0011821202 2,74% E Telenet Group BE0003826436 0,46% For inquiries or comments please contact the front office of Standard Ethics at the following e- mail address: [email protected] Important Legal Disclaimer. All rights reserved. Ratings, analyses and statements are statements of opinion as of the date they are expressed and not statements of fact. Standard Ethics' opinions, analyses and ratings are not recommen- dations to purchase, hold, or sell any securities or to make any investment decisions, and do not address the suitability of any security. Standard Ethics Ltd does not act as a fiduciary or an investment advisor except where registered as such.
    [Show full text]
  • FACTSHEET - AS of 24-Sep-2021 Solactive GBS Belgium Large & Mid Cap Index TR
    FACTSHEET - AS OF 24-Sep-2021 Solactive GBS Belgium Large & Mid Cap Index TR DESCRIPTION The Solactive GBS Belgium Large & Mid Cap Index TR is part of the Solactive Global Benchmark Series which includes benchmark indices for developed and emerging market countries. The index intends to track the performance of the large and mid cap segment covering approximately the largest 85% of the free-float market capitalization in the Belgian market. It is calculated as a total return indexinEUR and weighted by free-float market capitalization. HISTORICAL PERFORMANCE 1,000 900 800 700 600 500 400 300 200 Jan-2008 Jan-2010 Jan-2012 Jan-2014 Jan-2016 Jan-2018 Jan-2020 Jan-2022 Solactive GBS Belgium Large & Mid Cap Index TR CHARACTERISTICS ISIN / WKN DE000SLA4DC5 / SLA4DC Base Value / Base Date 725.02 Points / 08.05.2006 Bloomberg / Reuters / .SBELMCT Last Price 831.43 Index Calculator Solactive AG Dividends Reinvested Index Type Total Return Calculation 8:00 am to 10:30 pm (CET), every 15 seconds Index Currency EUR History Available daily back to 08.05.2006 Index Members 16 FACTSHEET - AS OF 24-Sep-2021 Solactive GBS Belgium Large & Mid Cap Index TR STATISTICS 30D 90D 180D 360D YTD Since Inception Performance -3.37% -5.85% 5.20% 20.82% 6.01% 14.68% Performance (p.a.) - - - - - 0.89% Volatility (p.a.) 11.25% 13.27% 12.79% 17.52% 14.21% 22.53% High 863.93 878.49 901.39 901.39 901.39 1007.16 Low 813.25 813.25 797.43 650.18 749.91 203.19 Sharpe Ratio -2.98 -1.59 0.89 1.24 0.62 0.06 Max.
    [Show full text]