Sustainability Report | Rothschild & Co
Sustainability Report
Table of contents ++*'%, 0-,!. !*%& 7 5> -*((*' ,'O+-+,!&!$!,1 8 ;D;D /-.#(#&#.3#--.,.!3 ? ;DD .,#&#.3----'(.) d()(e #((#&,#-%- C ;D?D <:<;"#!"&#!".-(#'*..!&( ;: 6> !&,*,!'&*'++, O-+!&++%'$ 55 D "#&(.",)*#*,.(,-"#*-F9)>(,.#)(- <: 7> &.!*'&%&,$!%(, 65 =D;D .,.!#*,#),#.#- << =DD *,.#)(&(0#,)('(.& )).*,#(. <@ =D?D "#&(.",)*#*,.(,-"#*-F9)>(,.#)(- '($&+'!$!%(, 74 >D;D .,.!#*,#),#.#- =; >DD=D ,)/.-(-,0#-F#(0-.'(.**,)" =B >D>D ,)/.-(-,0#-F&)&0#-),3 =C >D?D "#&(.",)*#*,.(,-"#*-F9)>(,.#)(- >: 9> -+!&++(*,!+ 85 ?D;D .,.!#*,#),#.#- >< ?D= ?D=D #((#&,#' >> ?D>D .(3,-/,#.3 >@ :> ((&!+ 8;
Message from the Executive Chairman "*/&#.#)() ."/-.#(#&#.3*),.<:<;!#0- �,#(!."#-,)'* ),#(.!,.#)(.)-/**),. /,.")/!".-,1#."0,3)( .3."/,,(.!)*)&#.#& 'd."d)**),./(#.3.)."(%)/,.'- ),."#'*,--#0 ."d-/-.#(#&#.3.,(-#.#)() ."!&)&)()'3,+/#,- ,#-#-D"1")& #,'#-(!!#( /(P,#-#(!'*#!( ),.-d#(d,#0#(!#(.!,.#)(.)."",.) )/,/-#(--D /-d.)d,-*.(',.")((.#0#.3) )-3-.'-E .)d"&*-/**),..""/'(#.,#( ),.-#,..d"&*#(! "*,)!,--')('#.#)((#(#.#.#0--#( -)#.#-d()()'##(.,*((D(#.,+/#,- .")-*)*&1")".)&0."#,")'-(�-"#(D 1d*/&#-")/, #,-.#.),*),.-*)(-##&#.3 d!,.d&) d)&&),.#)(D -/-#(--1"0.%(-1# .(#-#0.#)(.)-/**),. *),.d<:;C,0,30#-#&,)--."(.#,/-#(--')&D (.,(&&3E."#--.,.-1#."!)0,((-./*1#."&, !&)& ),..)#-)&./--# ,)'--.)*#.&',%.-E .E."0(.-) ,(.3,-Q#(*,.#/&,."/,,(. )1(,-"#* ),-/-.#(#&#.3-.,.!30&)*'(.(�,3 3)(*/,)'*&#(1#."!&)&&3),"-.,.-(.#)(-D !)*)&#.#&)(.2.Q"#!"&#!".."(13('#E-(- ,-*)(-##&#.3.0,3&0&) .",)/*M-/-#(--')&E (d)(-/&..#)(1#.")/,.')(."!,)/(E1# ) d/,!(3d(#(,--)*) .".$).)3E()/, (&#(!."/-#(--P,&0(.#'*&'(..#)() !,)/*P1#E .)d-/-*()/,&)&0#-),3)*,.#)(#()-)1(1#( ,'#(#(!",))' ),-/**),.#(!)/,&#(.-#(."#, E*,#),#.#-E('*)1,#(!0,3'*&)3.)'% )1()/,/--#(.#0#.3D1#&&()..-(0#-), ),(3 -/-.#(#&#.3.,(-#.#)( ),.-D -/-.#(#&#.3*,#),#.3#(."#,#&3$)-D2.,(&&3E1-1 /--#((.#.3E-..P)1(),).",1#-D/,&."(--. -/-#(--E1 #,'&3�.".#(),,.)-/-.#( )0,d."&-.3,'),)&&),.#)((d."d')(-.,.#)( (!'(.(,"(.(%#(!/-#(--1#&&().*. d-/-- /&/-#(--#(."&)(!P.,'E.)'(!,#-%- ), ) d$)#(,-*)(-##&#.33!)0,('(.-E/-#(---E(#0#& (3d(1/--#(&#(.-D(."/-#(---J."),)/!"'(. -.%")&,-E(.)/(&)%(1)**),./(#.#- ),!,)1."E1 -)#.3#(d."#, ),.-.)'#.#!.(*..)."#'*. (&#(.)(),#(!*,)/,-1#&&.%#(.))(-#,.#)( (.)"&*(&(*,).. /./,#(1"#"0,3)(( ) d&#'."(!D(10,3'/"1&)'."#(#.#.#0- ."d"#!".(,#-%---)#.1#.".#(! ),&#(.- .",#0D (d)&&),.#)() 2*,.-1),%#(!.)1,-'),.,(-*,(3 1#."d-#!(# #(.2*)-/,.).",!#)(.&,!E#(&#(1#." (-.(,#-.#)(#(),*),./-.#(#&#.3#-&)-/,-D )/,d)(-,0.#0**,)".)!)*)&#.#&,#-%-D (1"#&-.."#-'3().(1 ),."!(,.#)(-) &,- 1")"0-/-- /&&3-.,)/, '#&3/-#(-- ),'), '*,)/."..",)/*#--#!(.),3) ."&)& /.1"#&-.#.'#!".-3.)&'."#(.,)((.#0#.3 ."(d<::3,-E-'(!'(..'11(..)(-/, )'*.E(1#."."#-)''/(#.#)( '2*,--#(! ) d."d1),& ),."&%) *,#.#&#.3( ),."'!(#./ .".d."#-*"#&)-)*"3#-()1 #,'&3'#()/,/-#(-- )/,d#(.(..)#'*&'(.."&)&)'*.*,#(#*&- ) d."!&)&#'*.) ,(.,#--Q ,)'."*('#E (d-&.(#..#)(-/-.#(&0&)*'(.)&- .)d."d!)*)&#.#&-#./.#)(E.)0#-#& .-) &#'."(!P #/%)&+* # ')& ),d."d3,-.))'G.".#.#-().$/-.+/-.#)( 2/.#0"#,'( ) d),*),.,-*)(-##&#.3E/..".-/-.#(#&#.3#--.,.!3D -d*,.) .",)/*M-/-.#(#&#.3-.,.!3(#(#.#.#0-D ."-0(.-')(-.,..".1&&"0,)&.)*&3 ) )."-"#&9)-.#)( (d."-/'',d) <:<;E1#.)("),."&)(!P.,' -(#(0-.),(0#-),E1,1),%#(!1#."0,#.3 #(d(/,./,#(!E/*")&#(!(*,)..#(!1),&.". /./, '#.#)(.)d/-d)/,d#( &/((2*,.#-.)-/**),.." ) d'(!'(..'-(),-.)-/**),.."')(."#, !(,.#)(-)(-#,1),." #!".#(! ),D -/-.#(#&#.3.,(-#.#)() ."!&)&)()'3-%3*#&&, .,(-#.#)($)/,(3-3--#-.#(!."&&).#)() *#.& (.!,.#(!-/-.#(#&#.3)(-#,.#)(-#(.)."",.) )/, #(d)/,!,)/*-.,.!3D .)d&)(!e.,'-/-.#(&-)&/.#)(-(--#(!(1)**),./(#.#-D -.,.!3-")/&().)(&3,.0&/#(."&)(!.,'E/.-")/& )3E)'')(-.) -.,.!#EE(*,#),#.#-*,)0#- "#-#-0#(E ),2'*&E#()/,,)&-)() d."&#(! "&*/#&,-#&#(#(."/-#(--.)'#.#!.-)') ."- "We have the long-term .",)/*1#."&, )/-)((-/,#(!.".-/-.#(#&#.3 0#-),-)(,(1&(,!3.,(-.#)(-E."d&/(") -")%-D(1"#&-.."-0&)*'(.-1#&&())/.#'*. #-dd-.,.!##'*,.#0,)--.",)/*M-/-#(--')&E #(()0.#0-/-.#(&#(0-.'(.*,)/.-(3.".#0 )'*(3M-**,)".)EE()0,.#'E('#!"...#'- ambition to use our influence #(&/#(!.",)/!"F (!!'(.) )/,#(0-.'(..'-1#."#--/,-)(."#, ,+/#,)/,-P),,.#)(-)/.1".#-L.",#!".."#(!.) #.-#,.)*,.#)(&#'*.G d.,$.),#-D )MdQd#(."-"),.PE'#/'PE(&)(!P.,'QE."3-")/&(M. and expertise to support (.",,'(3(1)**),./(#.#- ),)&&),.#)(.". ' d)'*,)'#-#(!$)#('#.#)(-(.,!.-D the sustainability transition #(0-.'(.**,)"-#(."&."9--.(!'(.E 2#.)/.F ,)'$)#(#(!.".,)--.(!, (#.#.#0G ,'#()*.#'#-.#.".1()0,)'."-"&&(!-3 of the global economy" (,"(.(%#(!/-#(---G .)#(.# 3#(!#(()0.#0*,.(,-.)�,!#(-.)/,(.P4,)P ',#(!)/,)'')(0&/-E."*)1,) #&)!/(!&)& .,(-.#)(0##(."&)&0#-),3/-#(--G )*,.#)(-P<:=:'#.#)(E), ),*"#&(.",)*#-/**),.0#)/, )&&),.#)(E&&)1#(!/--#(#0#/&-E/-#(--&,-E &#(.('(.)(),#(!G (19)>(,.#)(-*&. ),'D 0#-),-E(#(0-.),-.)0('),.")/!". /&(,.#0 (!!'(.) ).",)*,.#)(&-/**&3"#(*,.(,-G "-3-E.",)"&))%-'),"&&(!#(!D #(-/**),.#(!."-/-.#(#&#.3.,(-#.#)() ."!&)&)()'3D (**,)" ),-/**),.) ",#.#-(-)#&(.,*,#--D d1-d ),./(.()/!".)!,)1/*#(((0#,)('(..". ,#-E*,#&<:<< &&)1'd.).%*E ,)'('),3 ),!,(.D "#-,*),.#'-.)*,)0#.,(-*,(3)(."*,)!,--' 0,."d,(.')(."-E-)') ."-#&-()(0#.#)(- #(d."&-.3,,)--."#--*.,/'D 1,"&&(!#(/(2*.13-D #/%)&+* # 2/.#0"#,'() )."-"#&9)-.#)(
1. Our approach to sustainability

1.1 Sustainability is strategy - '#&3P)(.,)&&/-#(--E1%()1.".&)(!P.,'0&/,.#)(*(-)(."&()(-#,.#)() ."#(.,-.-) &&)/,-.%")&,-D 0#(!(.."(.,) ."1),&J- #((#&',%.- ),)0,<::3,-E)/,d2*,.#-E #(.&&./&*#.&(!&)&(.1),%(&/-.)*,)0#d#-.#(.*,-*.#0.".'%-'(#(! /&# ,(.))/,&#(.-E)''/(#.#-(*&(.D/,&)(!P.,''#.#)(.)/-)/,#( &/((2*,.#-.)-/**),.."d-/-.#(#&#.3 .,(-#.#)() ."!&)&)()'3#-%3*#&&,) .",)/*-.,.!3(--/"d /('(.&.)�,#(!)/,-.,.!3,)--."/-#(--')&D Values-driven culture Three established businesses e differentiators We promote a culture of One Group consisting of three responsible business and established businesses ongterm vie Peoplecentric ni ue brand heritage long-term value creation ■ amily controlled ■ readth of e‚perience ■ trong credibility for our clients, stakeholders and investors ■ trong capital position ■ eep €now…how ■ ‰igh affiliation ■ nduring client relationships ■ ˆartnership culture ■ Well…connected Thoughtful Global Merchant Considered Advisory Banking Strategic We provide advice in M&A, We are the investment arm trategic Advisory and inancing of the Group deploying usiness aligned strateg Long-term Advisory, encompassing the firm’s and third parties’ estructuring, ebt Advisory capital in private equity and and quity Advisory. private debt opportunities, ur clients include alongside a select corporations, private set of leading Focus Groth alue trong ustainability Principled equity, families, institutional and creation returns ambition entrepreneurs and Global reach private investors. uild strong Growth across our esponsible governments. Local presence mar€et positions three businesses, ƒhree established ffective use of †se our influence Family controlled and e‚pertise both organically and businesses capital generates and e‚pertise mpathetic around our three through targeted with strong long…term profit to support the Committed core businesses acquisitions, synergies between growth, supporting sustainability mitigating the them focused our progressive transition of the impact of cyclicality on sustainable dividend policy global economy in our mar€ets performance Wealth and Asset and value creation Creative Management We invest, structure and safeguard assets, nnovative creating innovative investment solutions to preserve and grow our Collaborative clients’ wealth. ntrepreneurial
)'')(-.) -.,.!#*,#),#.#-*,)0#)/,,)/*1#."&, )/- “At Rothschild & Co, we want to use our influence and expertise #(d(-/,#(!.".-/-.#(#&#.3#--.,.!##'*,.#0,)--)/,/-#(-- ')&E#(&/#(!)/,F to support the sustainability transition of the global economy.” #,.)*,.#)(&#'*.G #(0-.'(.**,)"-#(."&."9--.(!'(.E(,"(. (%#(!/-#(---G .,(-.#)(0##(."&)&0#-),3/-#(--E#(&D#. Environment (E) People and Society (S) usiness Practices () 0#-),32*,.#-G &#(.('(.)(),#(!G (!!'(.) ).",)*,.#)(&-/**&3"#(*,.(,-G( **,)" ),-/**),.) ",#.#-(-)#&(.,*,#--D "*,#),#.#-&#-.#(."') &) +0)$.&)",, &.#0) )/,')-. '.,#&#'(-#)(-) (0#,)('(.&E-)#&(!)0,((#'*.S*&- , ,.)."'.,#&#.3----'(.) ()(P #((#&,#-%-#(.#)(;D>) • Support and contribute to the • Championdiversity of thought • Saeguardresponsible ."#-d,*),.TD" ,'1),%.--." )/(.#)( ),)(-#,**,)" transition to a low carbon economy • Ensureemployee wellbeing business conduct .)d#(.!,.#)(#(."')-./-#(--P,&0(..#0#.#-,)--)/,0&/ • Preserve and protectbiodiversity • Work againstinequality "#(("&*- #(,)'* ),#'*&'(..#)(D .#)(<) ."#-,*),.)/.&#(-")1."-*,#),#.#-,, &.#(*)&##- Strategicpriorities (*,)!,--'#(<:<;.)#(.!,.)(-#,.#)(-,)-- ."d# ,(.&0,-) ."/-#(--')&D.#)(-=E>E(?*,)0#'), !,(/&,-,#*.#)() *,#),#.#-(*,)!,--'#(") .",)/*M- -.,.!#EE(*#&&,-#(<:<;E#(&/#(!%3*, ),'(#(#.),-D – Carbon ootprint – Diverse and inclusive talent pool – Compliance culture ocus – esponsible consumption – Employee wellbeing and development – Data and cybersecurity perational and resource use – inancial crime Wealth ‚ ƒsset anagement and erchant anking €nvestment policies Stewardship and engagement Products and services lobal ƒdvisory ussiness lineintegration ‚ƒ transaction advice inancing and investor advisory andatesclientssupplier selection ‚Co…enerations Philanthropicactivities Donationsdebtinvestments Pro„bono advisory
1.2 Governance of sustainability matters .*.!/''.*&&**&%&,+ ",')- *&)0&),,#-)/..")(!)#(!-/*,0#-#)(d) )/, #(d #(*,#),#.3,-E.",)/* ) /-.#(#&#.3#-'', )'*(3M-'(!'(.D (."#-)(.2.Ed#.)(-#,--/-.#(#&#.3#--/- ) d(d1),%-&)-&31#.".",-*.#0#.-/**),.#(!)''#..- .d."#(#.#.#)() -(#),'(!'(./(&--."/*,0#-),3),#.-& .)d."S*&-, ,.).")0,0#1.&", .,TD S;T #(.# #-()**),./(#.3.)#-/--D#.,*+ % # +0&$$ ++ ")&,'*'&%* # %-*+$%++$-/**),.-."d1),%) .",)/* upervisory Board )'*)-) .",'',-) ."/*,0#-),3),'.-.&-..1# -*)(-#& (0-.'(.)''#...) /,.",."#(0-.#(!/-#(--&#(-M *,d3,(d"-(!#0(."'#--#)(.)--#-.."/*,0#-),3),#(F ,)'* ),#(.!,.#)() )(-#,.#)(-#(."#,**,)"-E#(&/#(! ustainability Commitee (-/,#(!."..",)/*)(-#,-(0#,)('(.&E-)#&(-)#.& ."0&)*'(.) )(-#-.(.#(0-.'(.*)&##-(--#-.#(!#(0-.'(. -d1&&-/-#(--*,.#P,&.#--/-E#(&#(1#."-.,.!#*,#),#.#- /-#(--&#(-#(."#,#(.!,.#)(0&)*'(.-D"d.',*),.- ),d."/-#(--G #,.&3.).")P"#,'() ."(1),%-&)-&31#.".",)/* Managing Partner (-/,#(!."..",)/*#-*)-#.#)(.)-.#(.# 3E(,-- /-.#(#&#.3 /(.#)(D (othschild ‚ Co estion) )**),./(#.#-(,#-%---)#..",1#."G( "#-#(.!,.#0-./*(&-."#.#'*&'(..#)() .",)/*M- Deinition o strategic sustainability ')(#.),#(!(,0#1#(!S#Td."-.,.!#*,#),#.#-E*)&##-#'*&'(.E -/-.#(#&#.3-.,.!3.d&&&0&-) ."/-#(--')&D direction and ES priorities ()$.#0--.3.",)/*,&.#(!.)-/-.#(#&#.3'..,-E (dS##Td."/-.#(#&#.3*),.#(&/#(.")."-"#&d9d) (!'(.*),.D .*.!/'!,'%%!,,++-(('*,!&, Group €ecutive Committee roup roup ‚Co… (#.#)(E."-/-.#(#&#.3-.,.!3#-*,-(..)."/*,0#-),3), ‚GCƒ Sustainability esponsible enerations €nvestment .d&-.)(3,(#-/---d*,.) ."'.#(!-) ."/#.(#-% (inclˆ heads o business lines† unction Šeam Šeam *'-($&3 &$-+!'&'%%!,, ‡† ‰C† inance) )''#..) ."),E),#( ),'&&3)(-#,d").",)/!")/.."3,D &+* #P3P&P*+ &%?."(!#(!,.(,E #(-.",)/*M-'#.#)( )''#...),.#(!#0,-E#(&/-#0( &2#&(0#,)('(. €mplementation oversight 1"#"d(&-&&)&&!/-.)"#0."#,*,-)(&(*,) --#)(& or sustainability strategy ),-/-.#(#&#.3#(.!,.#)(#(.),)/*-.,.!3E(!,)/*P1#-.,.!# -*#,.#)(-E(d.)d(-/,.".1*,)0#&)(!P.,')**),./(#.#- *,#),#.#-D ),d!,)1."D roup alance ‚ €nclusion Committee ")&,'/,+ -&$$ ++JD*,)&#-.)*,)*)--.,.!# #,.#)(-.))."-"#&d9d)-.#)(E#(&/#(!#(,&.#)(.)-/-.#(#&#.3E ƒdvise roup Environment† (.)--#-.."d(!#(!,.(,#()0,-#(!."#'*&'(..#)( *'-(&.!*'&%&,? $, 3,1'%%!,, the EC ‡ealth ‚ Saety Committee ) d."d-.,.!3,)--.",)/*(.")*,.#)(&'(!'(.) ."d,)/*D('',) ."#-d,-*)(-#& ),d-/-.#(#&#.3.)*#-D 0,-#(!."0&)*'(.( .#0#'*&'(..#)() !,)/*P1# roup esponsible €nvestment Committee /-.#(#&#.3'..,-,#-/--#(.",!/&,'.#(!-) ." *)&##-#'.&#'#.#(!(,/#(!."#'*.) )/,/-#(-- (3d.#'-,+/#,S#(d'),."(B:\) ."'.#(!-#(<:<;TD )*,.#)(-)(d."d(0#,)('(.E(.""&."(- .3) '*&)3-D - * &%# %$%+&$$ ++* ),&."9--.(!'(.E Divisional anagement Committees ,"(.(%#(!(&)&0#-),3,d,-*)(-#& ),."#(.!,.#)( €ntegration o group„wide ES priorities ) d!,)/*P1#EE*,#),#.#-#(."#,/-#(--P&#(-.,.!3D *'-(+('&+!$ &.+,%&,'%%!,, in business„level strategy development ")&,',*+ % # +0,%+ &%--#-.--(#),'(!'(.#(." 0&)*'(.) ."-.,.!3E.")),#(.#)() d!,)/*P1##(#.#.#0-( 0&)*#(!()0,-#(!."#'*&'(..#)() !,)/*P1# ."d*,)0#-#)() ()(!)#(!()(-)&#.*#./,) *, ),'(!#(-. d#(0-.'(.#(.!,.#)(((!!'(. ,'1),%-/**),.#(! ."d,)/*M--.,.!#)$.#0-E(,*),.-#,.&3.).")P"#,'() ."d.,(- ),'.#)() d#(/-.,#-.)1,--/-.#(&*,.#-D ."dE1")#-)() ."d(!#(!,.(,-D/**),.3.') 2*,.- S;T ),#( ),'.#)()(.")'*)-#.#)() ."/-.#(#&#.3)''#..E*&-, ,.).#)(@D
1.3 Stakeholder dialogue, partnerships and public commitments /#&#(!&)(!P.,'E.,/-.*,.(,-"#*-1#.")/,-.%")&,-#---(.#& .*.!/(*,&*+ !(3(-$!'%%!,%&,+ .)d/(,-.(#(!."#'*.) )/,.#)(-E#(.# 3#(!)**),./(#.#- ),d#'*,)0'(.E(,&#-#(!-/-.#(&0&/,.#)(D)(.#(/)/- (!!'(.1#."'*&)3-E&#(.-E#(0-.),-(-",")&,-E-)#& -)#.3Ed('/&.#P-.%")&,#(#.#.#0-#-d,/#& ), )-.,#(!."#-#&)!/D .#)(@) ."#-,*),.*,)0#-()0,0#1) ,&0(.-.%")&,!,)/*-E UN GLOBL O FN N€ ‚ ƒ %3d.)*#-(-.,/./,(!!'(..#0#.#-#(<:<;E1"#""&* FO G N„ …UL† /-d ),'d)/,*,-*.#0-)(")1.)**,)"-/-.#(#&#.3'..,-#(<:<;D --#!(.),3.)."(#..#)(-&)&)'*.E1-/**),. Signatory All investment business Investor Signatory since Rothschild Martin Maurel ."d(d,#(#*&-)("/'(,#!".-E&)/,E(0#,)('(.E( since January 2021 entities have signatory 2017; regular climate SS and ive Arros (.#e),,/*.#)((,d)''#...)(!!#(!#()&&),.#0*,)$.- status change disclosure Managers SAS are .".d0(d."d(#.d.#)(-/-.#(&0&)*'(.)&-S-TD reporting signatories since 2020 ",d**,)*,#.E."#-,*),.'%-."&#(%.1(.",)/*M- -/-.#(#&#.3*,#),#.#-(d.")''#.'(..)E1",0,*)--#&E )(.,#/..).""#0'(.) d-&.-S*&-, ,.)." *,#),#.3 ,'1),%),/(#0,-&, ,(.&#(.#)(@) ."#-,*),.TD ".&)(.",#!".*,)0#-()0,0#1) !,)/*P1#*/&# )''#.'(.-(."*,.(,-"#*-.",)/!"1"#"."d,)/*(#.- ‡O N N N€ L /-#(---',# #0-&+ ),((!!1#."#.--.%")&,- FNN ƒ N NONL #(d-/-.#(&0&)*'(.#(#.#.#0-D Rothschild o Asset M Rothschild Sons ive Arros Managers SAS Rothschild o …an† Aƒ Management urope is a €imited is a signatory is a signatory since 201„ is a signatory since 2020 signatory since 201 since 201; commitments have been e‚panded to the entire ƒroup N ˆ O ‚‚ N€ ‚O‚ OLON FO L L OB O OU NG ‚ N€ ‰U‚ N‚ON UN BN…U €É „UBL Rothschild o …an† Aƒ Rothschild o Asset Rothschild o Asset Rothschild Martin Maurel is a signatory since 2021 Management urope is a Management urope is a is a member since 2021 signatory since 2021 signatory since 2021
1.4 Materiality assessment of non‑financial risks ,*!$!,1%,*!0'&'&G!&&!$*!+#+*$,!&,'+-+,!&!$!,1 #(<:;BE1"0/(,.%(,!/&,'.,#&#.3----'(.-#' s .d#(.# 3#(!."')-.,#.#&(0#,)('(.&E-)#&E(!)0,((#--/- .".,,&0(..))/,-.%")&,-(1"#")/&,*,-(.()(P #((#& Compliance culture† ,#-%-),)**),./(#.#- ),d."/-#(---D eholder inclˆ inancial crime ,0#1) ."#-----'(.) ()(P #((#&,#-%- .#(!,)/*/-#(--- ak (-.%")&,-S;T1-,,#)/.&)(!-#."((/&,0#1) -.,.!# t ,#-%- ),.",)/*.."() <:<;S*&-, ,.)."d-,#*.#)( o s Climate action Data and ) d."d'#(,#-%-.)1"#".",)/*#-2*)-*,-(.#(.#)(>D; e t cybersecurity ) d."d)."-"#&9)((/&*),.<:<;TD",-/&.-) ."#-,0#1 anc Diversity ,d-/'',#-#(."&)1'.,#2E)(-#,#(!)."F ‡uman and inclusion '.,#&-.%")&,,&0(E#DDE&#%&#"))."..",)/*M-.#)(- €mport rights Šalent acŒuisition 1#."d,!,-.)(#(.# ##--/1#&&#'*.#.--.%")&,-E1"#")/& and development "0(#'*.)(#.-,*/..#)(G '.,#&/-#(--#'*.E#DDE&#%&#")).".(#(.# ##--/1#&&#'*. .",)/*M-*, ),'(E(#.-#&#.3.),.&)(!P.,'0&/D ‹atural Employee (#.#)(.))(!)#(!-.%")&,(',%.#(.&&#!(E."#-,!/&, Socio„economic capital wellbeing ),'&----'(.*,)0#-.",)/*1#.",&0(.#(-#!". ),.")(.#(/ eŒuality ,0#1) -.,.!#*,#),#.#-D ",-/&.-) ."----'(. ),<:<;"#!"&#!"..")(.#(/,-) )/- ),."/-#(---, &.#(."*,#),#.3 ,'1),%D"#-,*),.#'- .)d*,)0#,&0(.#( ),'.#)(1#.",!,-.)#(#.#.#0-#'.'#.#!.#(! ."/-#(--#'*.)(."-'..,-E#(*,.#/&,,&.#(!.)N)'*&#( /&./,OS.#)(?DTEN&#'.d.#)(O S.#)(=TEN#0,-#.39#(&/-#)(O(N&(.+/#-#.#)((0&)*'(.K SDD<) ."#-,*),.E ),K /'(#!".-KE*&-, ,.).#)(->D<(>D>) ."#-,*),.G ),K./,&*#.&KE*&-, ,.).#)(=) ."#-,*),.G ),K)#)P)()'#+/#.3K*&-, ,.).#)(-=D?(>D? ) d."#-d,*),.D
1.5 2021 highlights and impact at a glance Strate…ic nvironment ‹ Œ eople and ‚ociety ‹‚Œ Business ractices ‹GŒ priorities ■ Support and contribute to transition ■ ˆhampion diversity of thought ■ Sa„e…uard responsible business to a low carbon economy ■ ‰nsure employee wellbeing conduct ■ Preserve and protect biodiversity ■ WorŠ a…ainst inequality ■ Net zero operations 2030 commitment ■ c‹ 3Œ00 emp€oƒees in over Ž0 countries ■ ‚7 comp€etion –n„ormation Securitƒ “perationa€ ■ 70 GG emissions reduction vs 20 ■ 3‚ avera…e tenure ‘ ’ ƒears trainin… „ocus ■ Shi toards active carbon remova€ ■ “ver 00 ne hires 33 „ema€e ■ ‚— comp€etion ”ata Protection Trainin… ■ ‚ reneab€e e€ectricitƒ ■ 2’‹Ž „ema€e in A” €eve€ and above ■ 00 o„ c€ients sub˜ected to „inancia€ ■ 7‚ o„ reportin… offices are ‡S‡P „ree ■ Ž0 „ema€e Board members crime risŠ assessment ■ c‹ Œ300 participants in ”•– trainin… ■ A€€ business divisions assessed „or ABˆ risŠ pro…rammes ■ A…i€e WorŠin… Po€icƒ Socia€ and environmenta€ controversƒ monitorin… Speci„ic ‰SG investment po€icies WAM Ambitious S™”š c€assi„ication ob˜ectives Ne sustainab€e investment products in AM ‰urope and MB› Business and MB 0 €abe€€ed „unds in AM ‰urope –SšœToards Sustainabi€itƒ inte…ration žotin… covera…e a€most 00 Nine ‰SG en…a…ement initiatives ˜oined bƒ entities in 202 GA Ÿeadin… corporate adviser on transactions re€atin… Advisor on sustainab€e „inancin… transactions €inŠed to environmenta€ to innovative ener…ƒ techno€o…ƒ and socia€ causes Third Supp€ier ˆode o„ ˆonduct ‰SG considerations in ne c€ient on¡boardin… processes Phi€anthropic parties activities š•ˆoŽGenerations¢ ne „und and …€oba€ p€at„orm „or environmenta€ and socia€ phi€antropic partnerships (1) Eligible perimeter for AM Europe, AM US and WM UK (discretionary assets).
2. ESG integration across the business model 85% 95% ) #-,.#)(,3 ) M-)*(( S;T --.- d( /(-.)&--# # -d,.#&B),CS

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2.2 ESG in Global Advisory &#!(.))/,*)-#.#)(-)() ."&#(!#(*((. #((#&0#-),3 ,*+ %# %%+)%*+ &%*><:<;1-(#'*),.(.3, ),." .#)(-=D=(>D>) ."#-,*),.*,)0#2'*&-) ")1# ,(.0#-),3 ")/--E)/,&)&0#-),3/-#(--"--.&#-"&#(!0#-),3 -/-.#(& #((',%.(11,&.)-/-.#(&#(!*)-#.#)( '(.-, &.(-/**),..",)/*M--.,.!#*,#),#.#-D *,.#1"#")'#(-2*,#((#.2*,.#-E1#." #(d,#-#(! #((#(! ),,(1&*,)$.-('%#(!!,((-)#& ."d)(!)#(!0&)*'(.) -.),-*# ##(.!,.%()1&!D *,)$.-#(0-.#&D (0-.),-,,--#!(#(!&,!')/(.-) ')(3.)1,- "d/-#(--0#--&,!E'#(-'&&P*),*),.-)(."#,9E .,(-.#)(-(,.#(!-,#(,-#(!&3#( )/- ),/-#(--- &!&&.!*'&%&,$&+'!$*!+#+ -.,.!#( #((#(!!)&-D/**),.#(!*/&#(*,#0.),*),. -%#(!-/-.#(& #((1"#"'..",&0(.,#.,#()$.#0-D &#(.-d)(-)&#. /&&-*.,/') ,#-%-()**),./(#.#-#-&#!( /,.( #((#(!0#-),3*,.#1),%-1#."&#(.-)(#(()0.#0 !&O*$,!'&,'O$!&,+O&O,*&+,!'&+ 1#."."&)(!P.,'**,)".)*,)0##(!0#(&0,!-)/,#&#.3 -/-.#(& #((#(!*,)/.-E-/"--/-.#(#&#.3&#(%&)(-()(-E .)d#( &/(#--/-.-&D#.")/,2*,.#-E1,1&&P*& /.#)()(-(!,()(-E),,&.#(!.)."'#.#)(-((.P4,) ,.#0&3'(!#(!,#-%-.".)/&,#- ,)')/,/-#(--.#0#.#-D .)d-/**),.&#(.-.",)/!"."(,!3.,(-#.#)((." #(#.#)( .,!.-) ."&#(.J-/-#(--D ",)/*M-&#(./#&#!()*,)0#- ),*).(.#&,*/..#)(& (d#'*&'(..#)() dd-.,.!#-Dd ,(.#&-,#(,-#(!&3,#.#&#(,.#(#(!(..,.#(!*#.& ,#-%-.".'3,#- ,)'0,#)/--)/,-E#(&/#(!E/.().&#'#..)E -#(!."-%#&&-(2*,.#-.."",.) #.-/-#(--')&.)#(.!,. .)d�,)*.#'&)/.)'- ),&#(.-D %-*+&)- *&)0( %-*+&) ."d(./,),*/,*)-) *,)*)-.,(-.#)(),-,0#E."#(.#.3E #.*,.#E&)&0#-),3#-F )"+ %/.#&#-#(0-.),#(-#!".-,)/('..,-E(&#(!."' &).#)(),.#0#.#-) *).(.#&&#(.(.",!/&.),3),*)&#.#& .)d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d---/-.#(&*#.&1#."(#(.!,.-/-.#(&-.,.!3D *)#(.) )(),#(!(1&#(.(U),'(.D"#-#(0)&0-F "&&(!-G( ,*/..#)(&-,(#(!-#!(.)#(.# 3(3*).(.#&#--/-#(,&.#)( *,)').#(!." &)1) *#.&.)1,--/-.#(&)/.)'- ),&#(.-E /,.'-*,)0#"#!"+/&#.3-.,.!#0#)(..,.#(!*#.&( .)."*,) #&) )'*(3),.,(-.#)(D",*).(.#&#--/ -",")&,-E(-)#.3D (!!#(!1#."#(0-.),-,)/(0,#)/-(0#,)('(.&E-)#&( #-d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d.%&#(!,)&-(0#-),)(.,(-.#)(-,&.#(!.)#(()0.#0 #(0-.),-E#(&/#(!*#.&',%.-3-E,-/&.-(,*),.-G ,*,-(.-)/,) )( &#.1#.".",)/*M--.,.!#*,#),#.#-E (,!3."()&)!3((,!3'(!'(.E'%#(!." #,')() .".)* (d-d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
2.3 ESG considerations in supply chain engagement "#&-.*,)/,'(.#-#)(-,')((.,&#--#-#()/, (/',) ,)/**)&##--*# 3#.#)(&,+/#,'(.-,&. /-#(--&#(-( /(.#)(-E1,)''#...)()/,!#(!,-*)(-#& We aim to ensure that: .)d*).(.#&,#-%-) --)#.#)(1#."."#,*,.3-/**&#,-E )&&)1#(! /-#(--*,.#-.",)/!")/.)/,)*,.#)(&-/**&3"#(D"(1),%#(! d*,)*),.#)(.(,#-%P-**,)"F 1#."-/**&3"#(*,.(,-E&&*,.#-,2*..))''#..)1),%#(! 1#."d").",.)/#&,&.#)(-"#*) ,-*.E.,/-.(.,(-*,(3D Suppliers are made aware of the Su C C€ u‚ƒ d,#'#(!.),.#0,-*))&) -/**&#,-.".-",)/,*,#(#*&-D as part of the RFP/contract renewal process; .""% $>"")""% $ )#(&/-,#-%!,#(! (."-/**&#,-&.#)(*,)--E1#'.).,.&&*,.#-+/&&3(1#." N+/&# 3#(!O."#,*,.3,&.#)(-"#*-#(),,.).,'#(."&0& #,(--E*,)0##(!."-')**),./(#.#-D",)/*#-)''#...) )&&)1 ) /#&#!(,+/#,E#(&/#(!." ,+/(3) ,0#1-*,. #,(,-)(&*3'(.*,.#-(.)*3-/**&#,-#(),( ) )(!)#(!')(#.),#(!-1&&-*).(.#&)(-+/(-) #&/, 1#."!,&#(-D .)�/*.)."-.(,--.G at contracting stage .",)/*M-/.-)/,#(!))/.&#(-."**,)".)'(!#(! "0 ),'&#-)/,2*..#)(-#(#.-(($!*''O'&-, ■ accept its principles as a fundamental reuirement for doing ,#-%---)#..))/.-)/,#(!()/.&#(-*,#(#*&-1#.",!,- **&#&.)."#,*,.#-1")-/**&3!))-),-,0#-.).",)/*E- business with Rothschild Co, and/or .)/#&#!(,+/#, ),(.,#(!#(.)()/.-)/,#(! ) d /&3<:<;D"), &.-)/,*,#),#.#-(&,# #- ),d)/,-/**&#,- !,'(.-1&&-d(--,3----'(.-) ,#-%(,#.#&#.3G ."2*..#)( ),,-*.) /('(.&."#&E-)#&d((0#,)('(.& ■ provide reassuring proof of their own policies and public .",)/*M- ( ),'.#)(/,#.3) #(-),*,#(#*&- *,#(#*&-#()#(!/-#(--E#(&/#(!."d)''#.'(.-1"0'- commitments that are reflective of the principles of the Group’s ),d#( ),'.#)(-/,#.3(."*,)..#)() #( ),'.#)(--.-E d-#!(.),3.)."(#..#)(-&)&d)'*.D"-2*..#)(-2.( Supplier Code of Conduct; #(&/#(!d ),d."#,*,.#-()/.-)/,-,0#*,)0#,-G .)."-/**&#,-M,&.#)(-1#."d."#,)1('*&)3-(-/)(.,.),-), .",)/*%%"$)$"-.-'#(#'/',+/#,'(.- (3).",,&.."#,*,.#-) -/**&#,(.#.#-(),!(#-.#)(- ),'#(! ),d&)/e-."()&)!3-,0#-)(-/'3)."-"#&9)E *,.) ."(!!'(.D **&#&.)d."()&)!3-,0#-*,)0#3."#,*,.3-/**&#,-G should concerns arise, the contract owners should engage with the .""#,P,.3/,#.3.(,&3-)/.-.(,)(.,)& potential supplier to understand issues and a plan to address these in ,+/#,'(.- ),(!!#(!1#."(1."#,*,.3-/"--/,#.3 the future; and .#,#(!----'(.),d*(.,.#)(.-.-G( ." ),(&0,3..'(.#(&/-*,#(#*&- ),#(.# 3#(! -/**&#,-.".,&#%&3.)*)-'),(-&0,3,#-%(#(&/- ,#-%!,#(!) .)*-/**&#,-D in addition, where possible, provisions allow for an immediate right of termination at the Group’s sole discretion, when a breach of the Supplier Code of Conduct is reported ",)/**,.#(!)''#.."-#(#.#.*,)$.#(0)&0#(!." 0&)*'(.) )'*,"(-#0E(P.)P(E*,)/,'(.*,)-- ),d-&.#(!E0&/.#(!('(!#(!"#,,.3&.#)(-"#*-E #(&/#(!d,#-%P-/#&#!(D '*&'(..#)(#-2*. ),<:<
2.4 Philanthropic partnerships: R&Co4Generations (<:<;E1(()/(."&/(") 9)>(,.#)(--*&. ),' "9)>(,.#)(- /(#-'(!/(,."/',&&) ." #(! .)d /,.",/#&)()/,&)(!*"#&(.",)*#.,#.#)() -/**),.#(!",#.#- /)/#()/(.#)(S TE*/&#/.#&#.3 )/(.#)(,!#-.,#(&!#/'D (-)#&(.,*,#--D9)>(,.#)(-#-#.*"#&(.",)*# /,(.#.#-)(.,#/..)." /(#.",#,.&3),0# M-!&)&(.1),% /(d(*,)!,''.)),!(#-('(!--)#..#0#.#-,)-- ) -/-##,#-(*,.(, )/(.#)(-D ."d,)/*D " /(#-!)0,(3(!'(.)''#..)'*,#-) )."-"#& 9)>(,.#)(-M%3)$.#0#-.)*,''&)+,+,)%)+ &%*3!#0#(! 9)2/.#0-(#(*((.-/$.'..,2*,.-D"(!'(. ."'."'(-.) (*..)."-)#&((0#,)('(.&"(!- )''#..-&.-*,)$.- ),-/**),.)(."-#-) )$.#0,#.,# .".."31#&&()/(.,/,#(!."#,&# .#'-D .-/**),.-),!(#-.#)(- (d.))&--*#&&3-#!(.)--#-.1#."."#-*,)--D&.#)(,#.,# 26% 1),%#(!.)&$+++*& %(,# + *%# $+%7 #(&/&#!('(.1#."."9)>(,.#)(-'#--#)(G&#%&#"))) ) '*&)3-!&)&&3(!!1#."9)>(,.#)(-U 1#."dd-*#& )/-)(*,)$.-1"#"F )(.,#/.#(!.)d&)(!.,'E-/-.#(&"(!G-&#&#.3),,*&##&#.3G )''/(#.3 (0-.'(..#0#.#-S;TD 0&)*-%#&&-(.&(.-G '*&)3(!!'(.)**),./(#.#-#(&/#(! /(,#-#(!E0)&/(.,#(! /&.#0.(.,*,(/,#&'#(-.-#(3)/(!*)*&G( (d*,)P)()0#-),3D *,)').#(()0.#)(#(,-*)(-.)#(+/&#.#-(&#'."(!D (!!#(!'*&)3-#-(.,&.)."9)>(,.#)(-'#--#)(D &&d) d)/,d)&&!/-,()/,!.)*/. ),1,."#,*,)*)-&- 9)>(,.#)(-M*,#',3 )/-&#-)(-/**),.#(!&)&",#.#-.". ),d/--.)d-/**),.E(.)!.#(0)&0#(-&.*,)$.-.",)/!" ),."(50 charities ,d)*,.#(!#(."!)!,*"#-#(1"#"1"0*,-(D (#.#)(E 0)&/(.,#(!),d3d$)#(#(!*,)P)()0#-),3.'D!/&,/*.- "d3,9)>(,.#)(-1#&&-/**),.(/',) !&)& &!-"#* )(d*,)$.-&.#)(E.#0#.#-(*,)!,--,-",1#."'*&)3- -/**),.3."/-#(--,)-- *,)$.-E*,)0##(!(#(,-&0&) -/**),..)-&.#(#.#.#0-1),%#(! )(d."d,)/*#(.,(.),d0#'#&D ,)--!)!,*"#-)(#--/-) !&)&-#!(# #(D .#)(-=D?(>D?) ."#-,*),.*,)0#2'*&-) ")1# ,(. 20 countries (-/**),.#(!-/"#(#.#.#0-E9)>(,.#)(-#'-.)'% /&&/- *"#&(.",)*##(#.#.#0--/**),.)/, #((0#,)('(.&(-)#& ) d."d.))&-.)/,.#.-#-*)-&E#(&/#(!F *,#),#.#-D )%+,% % ),#(()0.#0",#.#-(-)#&(.,*,#--1),%#(! #(d."")-( #&-G .,!.,%) * %$' %*1#.")'*(3'."#(!.)-/**),. 1#."( ."d*,)$.-G average partnership ')&G&%&- *&)0-/**),.1",.",)/*(-",#.-*,) --#)(& %()1&!(-%#&&-.)-.,(!."(,-#&#((-/-.#(#&#.3) "#!" duration of two years. #'*.(*,)'#-#(!),!(#-.#)(-G .,!.E*/,*)- /&-&#,%+) %')&)$$*1"#"&&)1)&&!/- .))(.,#/.#,.&3(.(!#&3.)/--1"#"-",.",)/*M- S;T (&/-0)&/(.,#(!E!#0#(!E(..(#(!0#,./&0(.-D )$.#0-G( /&.#'.&3E*& # $'+ %-*+ %%#&%*.)-/**),."(!'%,- 1"),0&)*#(!/..#(!P!-)&/.#)(-.)-)') ."')-.*,--#(! -)#&((0#,)('(.&"&&(!-."1),& -D
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3.2 Products and services: investment approach #'#.#(!."(0#,)('(.&#'*.) )/,.#0#.#-#-%3)(-#,.#)( (0-.'(..'-')(#.),."*, ),'() #(0-.)'*(#-,!,#(! -*,.) ."#,-*)(-#& (0-.'(.**,)"E)/,#(0-.'(./-#(--- #(d."#(0-.'(. ,'1),%-(*)&##-()(-.#./.-()(!)#(! %- )&%$%+#) +) S(0#,)('(.&-),-E,)(#(.(-#.3E.,(-#.#)( #'.)) ,&#(.-.")**),./(#.3.))(.,#/..)."-/-.#(#&#.3 )$.#0 ),)/,#(0-.'(..'-D *,) #&TD (#.#)(E-)'(.#.#-"0#'*&'(. /,.",*,.#-E-/"d-F .,(-#.#)() ."!&)&)()'3.",)/!"*' # *&) %+)+ % )&##-( ,'1),%-.#&#(.#)( ."d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dd"#!"&3#'*.#(!-.),."."--#!(# #(.)(.,#/.#)( .)d(0#,)('(.&"&&(!--/"-&#'."(!D &.+,%&,(*'-,.$'(%&,+/!, &&.!*'&%&,$, % %+ +0 )&,+-#&'$%+*6465 $ >"(! /(-S+/#.3E #2P#()'(#0,-# #T )/-)(dd#'(-#)(-F &#'. R .1)) ."- /(-'N.P,)OE1#."'#.#)/-&#'..,!.-#(d<:<;G .,-,#.3 **+ %$%+,)&' R &/(") &),>"(!&)&+/#.3#(<:<;E&#!(#(!."2*,.#-) d &!-"#* #)#0,-#.3 /(d&),(d."')(#.),#(!) -*# #(0#,)('(.& - ,()(- /(F)(.,#/.#(!.)."(0#,)('(.&.,(-#.#)( &+* # )+ % ,)# #.*,)/.-(.,)(!,(.,(-#.#)()**),./(#.#- &#'. 2/,3-.,.!3E1"#"#(#.#)(.)#.-,./,()$.#0E.#0&3#(0-.-#(--.-.". &#'. #+ %$%+ -/**),.."!)&-) .",#-!,'(.S(.4,)!&)&'#--#)(-3<:?:T(." #,.,(-#.#)(.)&)1,,)(1),& /(-(#-,.#)(,3'(.-F')(#.),#(!."&)1P,)( .,(-#.#)(-), &#'. &+* #3&%" ) d)'*(#-#(*),. )&#)S*,)0#3 -,"T(2&/-#)() 1),-.e#(e&--E-)P&&-.,(--.-E*&3,- )%+%" % #0,,)1-/-.#(& (0-.'(.F(#'*. /(#'.#(0-.#(!#(d)'*(#- &#'. .#0&3)(.,#/.#(!.)."&)1P,)(.,(-#.#)( /-.#(&!,#/&./,
"0&)*'(.) (0#,)('(.&*,.(,-"#*-1#."-)(.,#/.- $!%,G*$,*!+#+!&!&.+,%&,+ .)d." /(#(!) #(#.#.#0-#'.#'*,)0#(!.",)/*M-%()1&!)/. )-3-.'-),,/#(!."#'*.) "/'(.#0#.#-)(."'F ,)!(#-.".&#'.P,&.*"3-#&(.,(-#.#)(,#-%-"0 --.(!'(./,)*-#!( #0P3,*,.(,-"#*1#."." ."d*).(.#&.)-.#&#-."!&)&)()'3E&#(!.)/(2*. --)#.#)(E2%&# )F.) #((."#,1),%)((.,.# ',%."(!-D )-3-.'-(.")&,)2*#.#)(G( -,)/*E1-/**),..",)''(.#)(-) ."-%),)( #(<:<;E,"(.(%#(!*,.(,1#."&#) $',#*&,%+ &% &#'.e,&.#((#&#-&)-/,-STDd .)d&/("#.- #,-. '*. /(#..).".,(-#.#)(.)&)1P,)( (/',) ,)/*(/-#(--P&0&*)&##-,#'.'(!#(! )()'3S#0,,)1-/-.#(& (0-.'(.TD (0#,)('(.&,#-%-E#(&/#(!&#'.P,&.,#-%-E(."(0#,)('(.& /,#(0-.'(.(.#.#- #((#'*&'(.'#.#)/--.1,-"#* #'*.) #.-*,)/.-(-,0#-D *)&##-,#0#(!.#0%$%+1#.")'*(#-#(1"#"."3#(0-.D #.),%#(!,)/*,*),.#(!#(.).",)/*-*)(-#& (d#.#)(E."(.#.#-,#(0)&0#()&&.#0#(#.#.#0-#'#(! (0-.'(.)''#.."- /,.",*,)!,--.")(-#,.#)() '.,#&#.3 .d*,)').#(!(0#,)('(.&-.*,.#-F ) &#'.,#-%-E1#." )/-)(#(0-.'(..#0#.#-E#(&/#(!d')(!-.).",-F #(.# #.#)() ."(./,) &#'.P,&.,#-%-()**),./(#.#-E .*.!/'&.!*'&%&,$'$$,!.&%&, (d'#.#!.#)(.#)(*&(-#(."# ,(./-#(--&#(-.",)/!"-,#- !&!,!,!.+3'%%!,%&,+ ) 1),%-")*-G 0&/.#)() )*.#)(- ),2.,(&.*,)0#-#)(-/**),.#(!." #-&)-/,-.",)/*1)/&&#%.)#(#.#.,!,#(!&#'.#'*. ) d#(0-.'(.-(&#'.P,&.,#-%-G( INITIATIVE CLIMAT #(#.#.#)() .,#(#(!) #(0-.'(..'-)/.&#'."(!( INTERNATIONAL #.-d)(-+/(-#'.'*)1,'(.(%()1&!/#&#(!D -,)/*E1#'.)#-&)-#(<:<<-.(P&)(,*),.#. Rothschild o Asset ive Arros Managers SAS .)d)/,d-.,.!3 ),,/#(!#(.# #&#'.P,&.,#-%-('(!#(! Management urope is a signatory since 201„ )/,d)(.,#/.#)(.)&#'."(!D and ‡M ˆ‰ are signatories N ˆ O ‚‚ N€ ‚O OLON NG ‚ N€ FO ‰U‚ N‚ON Rothschild o Asset Rothschild o Asset Management urope Management urope became a signatory is Šounding member in 2021
3.3 Products and services: Global Advisory "(,!3.,(-#.#)(,.-)**),./(#.#- ),)),#(.()'*.#.#0 .#)(3/-#(---1#."3('##'*.)(."&&).#)() *#.&( 0#.)"#.,)(#(/!/,&!,()(- 0#.)#,-.,)/*)(-/-.#(#&#.3P&#(% ."(.#,)*,.#(!)(.2. ),-)')'*(#-D "#&#.3.)#(.# 3."-)**),./(#.#-(."--)#.,#-%- ),'- )."-"#&9)*,)0#.0#.) +)'#)(#.- )."-"#&9)0#- )*+)&,''#)(.", #((#(!) #.-(% *,.d) .".#&), 30#-),3-,0#-D),2'*&E&((,!3*&3- #(/!/,&Y=::'#&&#)(&)(!-#2P3,
3.4 Operational environmental footprint /,)*,.#)(&(0#,)('(.&'(!'(.-.,.!3 )/--)('#(#'#-#(! .*.!/%*#,G+'(*,!'&$'',(*!&,H,+&!-*+I5J (0#,)('(.&,#-%-,-/&.#(! ,)')*,.#)(&.#0#.3E(#-#'.F ( ) -/**),.#(!.".,(-#.#)(.)&)1P,)()()'33,/#(!( Total ƒ„ƒ emissions (tCO eq) Recyclin rate (%) )'*(-.#(! ),)*,.#)(& '#--#)(-G( 51% *,-,0#(!(*,)..#(!#)#0,-#.33'%#(!)(-#)/-E-/-.#(& 29,711.2 ,-)/,")#-E'2#'#-#(!,3&#(!(*,)').#(!#,/&,)()'# 40% 39% *,.#-D 27,613.3 38% %!4 *'-(D+&.!*'&%&,$%&%&,(*!'*!,!+* !&+(*,', *'-(D++-+,!&!$!,1+,*,1I,!'&O5>5', !+ *('*,J *!.& 1 , &!& *,&*? .!+ 1 , *'-(D+ -+,!&!$!,1-&,!'&> !%($%&,,!'&', *'-(D+'(*,!'&$ 2018 2019 2020 2021 &.!*'&%&,$ %&%&, +,*,1 !+ '.*& 1 , *'-( &.!*'&%&,? $, &,1'%%!,,?'%%!,,'&+!+,!&' +&!'**(*+&,,!.+*'%-+!&++$!&+&+-(('*,-&,!'&+?, , (‚) %,+)-*,*$1&*('*,+!*,$1,', *'-(0-,!.'%%!,,> Total enery consum tion (€h) 26,216.9 (<:<;E)/,)*,.#)(&(0#,)('(.& )).*,#(.)(.#(/.)-#!(# #(.&3 10,799.9 24,011.6 #( &/(3."#'*.) .")0#e;C*('#)(!&)&/-#(-- 8,771.5 .#0#.3E')-.().&31#.",!,-.))/,,*),. '#--#)(-D )& (d(.#)(&!)0,('(.**,)"-#'.'#(#'#-#(!.")0#P;C #'*."0&.)E ),2'*&E-#!(# #(.,/.#)(-#() #(,!3/- 21,701.1 #(d) #--/"-/'#E )(! )(!( )"((-/,!E&&,*),.#(! ,-#((,!3)(-/'*.#)() '),."(>?\E1",-#(3(3E 19,797.0 #&(d()/&)(,!3/-"-,'#(,&.#0&3-.&D-*,.&3 ,),'*&)3)''/.#(!'#--#)(-E1"#" ),<:<;,&/&. -d=B?d. +D < 2018 2019 2020 2021 2018 2019 2020 2021 Scope Scope Scope Renewable electricity (%) Thereof business travel-related emissions (tCO eq) % 8% 21,466.0 20,189.5 % % 4,609.7 S;T 2.,*)&..D 2,541.5 S
-(('*,!&, ,*&+!,!'&,'$'/G*'&'&'%1 &#'.P,&.*"3-#& .-E-/"-.")-,-/&.#(! ,)'2.,' ),)/,,'#(#(! )).*,#(.E1#'.)!#(,')0#(!,)(#)2#S T < .*, (+,56%'&, +?/ .+&@O 1.",0(.-E"0."*).(.#&.))*,.#)(&&3#-,/*./-#(--.#0#.#- ,)'.".')-*",.",)/!"'#2) (./,P(."()&)!3P- (#'*.�&#"))-D(2,#-#'.#(.# 3#(!2*)-/,) #(#0#/& -)&/.#)(-E.)#(*)-#.#)(#(<:=:.) .#0&3,')0."+/#0&(. ) #-.)."*"3-#& .-) 2.,'1.",E." ,+/(3) d1"#"#- ')/(.) (3,-#/&)*,.#)(&'#--#)(- ,)'.".')-*",D #(,-#(!/.),*#&3"(!#(!&#'.E#-)(!)#(!-*,.) d.",)/*M- "#-d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ecrease in total EŽpansion o renewable ')(#.),)*,.#)(&&!&(,!/&.),3,+/#,'(.- ),&&)/,) #-G ,')0&*,)$.-#()/."((.,&',#E(/,)*6 ‡ emissions electricity procurement ( (),,.)-/**),.."#-"(!E11#&&)(.#(/.)F '#(#'#-U(/.,&#-)/,)*,.#)(&#'*.)("(!#(!&#'. ')(#.),)*,.#)(& '#--#)(-3) #(#0#-#)(G (d*,).#0&3*/,-/)*,.#)(&*..#)()**),./(#.#-D ',&.,(.#01),%#(!')&-E(-1#.".)'),-/-.#(& "#&-.12*.,)/(#( '#--#)(-/-3&#%&3/*.%#( .,(-*),.)*.#)(-1",**,)*,#.G .,0&,)/.#(-(/-) ) #-*)(."*('##'*.)(/-#(-- )(/.) #(,!3----'(.-.)#(.# 3(#'*&'(.(,!3 .#0#.#-,--E1,)(-#)/-) &#'#.#(!."#-,)/( .3 -0#(!)**),./(#.#-(*,)/,&)1(,!3+/#*'(..),/ -%#(!.)*#.&#-)(&)(!,.,'"(!-.)1),%#(!*..,(-(.,0& )(-/'*.#)(3"#-)''#.'(./#&-)()/, *,0#)/-)''#.'(.-.),/)*,.#)(& '#--#)(-(*,-(.- (d'#.#)/-/*..)." #,-..,!.--.#(<:;CD "*&!,+/#,-/-.)'%"(!-.)."131)*,.(,#(!." &#'."(!#'*.) '#--#)(-) )/,)*,.#)(-.) .#0&34,) 1#."#(."(2.D"#-,+/#,-,/.#)(#(',%.P-'#--#)(- ,)'<:;B-&#() F '),."(B:\) -)&/.-)*;]<'#--#)(-G( <>\*,) )*,.#)(&-)*='#--#)(-D
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3.5 Philanthropic partnerships: R&Co4Generations 9)>(,.#)(-M**,)".)-/**),.#(!(0#,)('(.&#(#.#.#0- #-d.)d )/-)("#!"#'*.(-/-.#(&-)&/.#)(-.)*,)&'-,. œorld Land Trust Œoe 3d&#'."(!D" /(*&-*,.#/&,'*"-#-)(#(()0.#)( "#0.",)/!"/.#)(D œorld Land Trust is an international conservation Œoe eŽists to safeguard iodiversity for the enefit of charity which is protecting the world’s most iologically all living species, implementing programmes for the and significant haitats, acre y acre. It does this conservation of endangered species, the management through land acuisition, tree planting and reserve of protected natural areas, and the support of management. economic activities which support the protection of upport from †‡ˆo‰enerations will contriute iodiversity. to the purchase of 2“,000 acres of land in …ražil, †‡ˆo‰enerations is supporting the Lepinoc leading to the permanent protection of threatened pro„ect‘ a pilot of the automated monitoring of haitats from deforestation. The funding will also moths. Šoths represent ’“‹ of utterfly species in support the training of local people to ecome rance. They are essential lin”s in the food chain employed as rangers or ‘›eepers of the œild’. Their and also play a ma„or role in plant pollination. wor” includes patrolling protected areas, monitoring wildlife, assisting •owever, these species are not well understood, and it is not ”nown researchers, and guiding visitors. They will also spread the message how to uantify the harmful effects of anthropogenic pressures such as of environmentalism amongst their communities, running wor”shops soil artificialisation or light pollution on them. The Lepinoc pro„ect will for schools and encouraging children early on to focus their thin”ing e crucial in helping us to etter understand these issues, and to adapt towards environmental conservation. our practices and limit our impacts. –oung —eople’s Trust The arden chool oundation for the Environment arden chool oundation provides in€depth –oung —eople’s Trust for the Environment –—TE eŽists garden€ased education to young people attending to encourage young people’s understanding of the at Title I schools‚ in Los ƒngeles, strengthening environment and of the need for sustainaility. It aims connections etween food „ustice, environmental to inspire young people to live more sustainaly and stewardship, and community health. …y using the ta”e leading roles in tac”ling environmental issues full transformative potential of school gardens as to ensure that future generations live in greater teaching sites, aims to nurture a healthy and harmony with the natural world. mindful generation of children who care for their odies, their communities, and the earth. †‡ˆo‰enerations is supporting The —rimary †‡ˆo‰enerations will support the cost of a ƒwards for reen Education in chools™ a garden educator who will provide garden€ased competition opened to all primary schools in TEŠ lessons to students. the š› which aims to assist and encourage environmental education for young people aged “€11. The awards are designed to promote ‚Title 1 schools are those with more than ‰0‹ of their students coming from cross€curricular wor” on the environment and to inspire young people low€income families. in ta”ing action.
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/.-##.-#,.)*,.#)(&-*",E1,)(-#)/-) *).(.#&,#-%-) $, &+,1 --)#.#)(E),#(#,.)'*&##.3#( /'(#!".-/--.",)/!"#.-*,''#0 -%.))'*&31#."&&**&#&&)&"&."(- .3&1-( %> (d<:<;E.",)/**/&#-"#.-2*..#)(-1#.",!,-.),-*. ,!/&.#)(-.)*,)0#"&."3(- 1),%(0#,)('(.D ), /('(.&"/'(,#!".-#(#./**&#,)) )(/.E **&#&.)."#,*,.#-1")-/**&3!))-),-,0#-.).",)/*D %!4 *'-(&.!*'&%&,? $, &,1'%%!,, "-d2*..#)(-,&#!(1#.".")''#.'(.-'.)."(#. *('*,+ !*,$1 ,' , *'-( 0-,!. '%%!,, & .!++ , .#)(-&)&)'*..)0)#)'*&##.3#("/'(,#!".-/--0##.--/**&3 -+!&+++ '& ('$!1 & !&!,!,!.+> !, *'-(O $, & "#(D")2.(-.)."-/**&#,M-,&.#)(-1#."#.-)1('*&)3- ,1 &*!+*+('&+!$'*''*!&,!&,!.!,!+,*'-($.$> (-/)(.,.),-E),(3).",,&.."#,*,.#-) -/**&#,(.#.#-( O !%($%&,,!'& ' $, & ,1 %&%&, ,!.!,!+ !& ),!(#-.#)(- ),'#(!*,.) ."(!!'(.D-*,.) ."#-(!!'(. '! *+,+ /!, , $'$$1 (('!&, $, & ,1 ),.E1/-)/,#( &/(.)#(,-#-&)-/,()''#.'(. %(!'&+> .)d,-*)(-#&'(!'(.*,.#-#()/,-/**&3"#(D ",)/* &."( .3) #(-.")( ),'(-.(, ), ),(&0,3 ) #-1),&1#E.) /,.",-.,(!."((#'*,)0 &."9 .3 )( ),'(,+/#,'(.-,)--&&) #-D),.#&-)(."*) )."-"#&d9d)#-)''#...))/(.,#(!'),(-&0,3#(&& (d &."9 .3#(#.#.#0-( )/(#(.#)(@D #.-d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d&.,(.#0-)/,--).".)/,, ,(*)#(.-,'#(/*.).D ",)/*M-*)&##-,, &.#0) ."'#(*,)0#-#)(-) ."d %+)%+ &%# &,))% *+ &%&%-%+ &%D*I J,%$%+#') % '#*? #(&/#(!."&#'#(.#)() && ),'-) ),&)/,E.")&#.#)() "#& &)/,E."&#'#(.#)() && ),'-) #-,#'#(.#)(#(,-*.) '*&)3'(. ()/*.#)(E(&-)#(,-*.) ,)') --)#.#)(()&&.#0 ,!#(#(!D
4.3 Products and services: investment approach ")(-#,.#)() -)#&#'*.#-*,.) .")'')(-*)(-#& "#(0-.'(..'-*3-*# #..(.#)(.)*& #&%+)&-)* *( .*.!/'!&.+,%&,(*'-,+/!, +'!$, %+ (0-.'(. ,'1),%!,3."#(0-.'(.(.#.#-( /,.",#(.!,. ,.#(*& # *> #("(.#.3M--*)(-#& (0-.'(.-.,.!3-.#&#(.#)(d"(! (&/-#)(( (#* )(-#,.#)(-F #'*&'(..#)() -.,)(!-)#&(!)0,((*,.#-')(!#(0-. +/#.3 /( #(--*# ##'*. R #0,-#.3 -&%&,$*!&!($+ &.+,%&,'$!1F)."-"#&d9d)1#&&(). )'*(#-.",)/!"."#,*,#0#&!--.)'(!'(..'-D '.,#-1"#",.%(#(.))(-#,.#)( #(0-.#()'*(#-1"#",,&..)F )-.) )/,(.#.#-"0#(&/-)#& -#(."#,-.(, /(-,*),.E **+ #(."#(0-.'(.*,)--D" /( R )'( R -,#)/-"/'(,#!".-0#)&.#)(-G -/**),.#(!."# /-#)() *,.#-')(!#(0-.'(..'-(&#(.- %$%+ #(&/-N)(.#)(-",OEd*,. R .3 (-.#'/&.#(!."!(,.#)() -)#&(!!'(.."'-D ,)&' ) d."d'(!'(. #-#-.,#/. R )''/(#.#- R -,#)/-0#)&.#)(-) .",#!".-) #(#0#/&-#(-#./.#)(-) 1, .)d."--)#.#)(<*"%"= R #-& ),d)( &#.G )-.(.#.#-#(.# 3.)*#- ),#-/--#)(1#."#(0-.)'*(#-D/,#(! (d#.-d*,)$.<+ )%(=1"#".,#(- *)*& R !,)--),,/*.#)(G( ,!/&,%$%+'.#(!-),#(#-/--#)(-*,(*)-.E-)' ('*&)3-1),%,--/ ,#(! ,)' R ).",*,.#/&,&3-,#)/-0#)&.#)(-) /('(.&."#&(),'- /-#(--&#(-M#(0-.'(..'-,&.)*/-"-*# #-/$.-E#(.# # d'(.&),)!(#.#0#-#&#.3 #(.# #3,#&."#,P*,.3-)/,-D -*,.#/&,&3#'*),.(. ),."#(0-.)'*(3D (, (--.,.!3-#(<:;BE '&,*'.*+!$('&+ &.+,%&,'$!1F)."-"#&d9d)1#&& (#.#)(E.",)/*M-(.#.#-(!!#()&&.#0#(#.#.#0-,--#(!-)#& **+ 1#."d."'#--#)(.)#(0-.#()'*(#- R (, ().d#(0-.#()'*(#-#(0)&0#(."*,)/.#)() 1*)(- ),!)0,(("&&(!-ED!DF %$%+ .".-/**),.!(,#0,-#.3#(." +/&#.3 *,)"##.3."-&))(0(.#)()(&/-.,/(#.#)(-S<::BT )."-"#&9)(%(N0((,+/&#.3#(/-#(--OG ),,))'-E,)--d-(#),'(!'(.E (d."..1,.3)((.#P,-)((&#(-S;CCCTG( )."-"#&,.#(/,&#-'',) ."N" %"% (.",)/!"."#,),*),.*)&##- *%$'$ &.+,%&,*!&!($+F1"((!!#(!1#." !% "&+%"OG( )'*(#-)0."/."),#-.",-")&-E#(0-.'(..'- --.(!'(./,)*#- )/(#(!'',) ."N (0-.),- ), ,+/-.+/(.#..#0/(,&3#(!.')(-.,.#(!.",##&#.3 $/-..,(-#.#)(O)&#.#)(&/("3#(( ),)'),,)1D ) d."d2#.d-.,.!3E#(&/#(!.")(-#,.#)() -)#&-*.-D
4.4 Products and services: Global Advisory #(,-#(!&3-/**),.)/,&#(.-#(."#,'#.#)(.)#(.!,. -/-.#(#&#.3*,#(#*&-#(.)."#,-.,.!3D",)/!")/, #((#(!0#-),3 £et advice to tonewater •ousing on *,.#E1-/**),.*,*+ %# %% % ),,(!) /-- ,)'-- ole advisor to the †epulic of …enin on its .)")/-#(!E/.#)(.)-)0,#!(-..-D #&#..9)**),./(#.#- €“00 million inaugural £ ond offering its deut £2“0m sustainale ond .)d&,.#(&/-#0!,)1."D (#.#)(E)/,*)&##-(*,)/,- ),&#(.('(.)(P),#(! †othschild ‡ ˆo acted as sole financial advisor to the Ru‡‚ B€€ †othschild ‡ ˆo acted as det adviser to leading .%#(.))(-#,.#)(.",#-%---)#.1#."."-)#&*,) #&(#'*. in connection with the country’s €“00 million inaugural ustainale housing association Sƒ€Œˆƒ LŽƒ on its deut ) .".,(-.#)(-10#-)(D),'),.#&E*&-, ,.).#)(
4.5 Philanthropic partnerships: R&Co4Generations ",)/!"9)>(,.#)(-E1-/**),.,(!) ),!(#-.#)(-1),%#(!.) "&*,--(&&0#.#(+/&#.#-E1#." )/-)(("(/.#)(& …iliothèues ans rontières —owercoders )**),./(#.#- ),3)/(!*)*&D" /(-/**),.-*,)$.-1"#"*,)0# 3)/(!*)*&1#.")**),./(#.#-.)0&)*1#,(!) -%#&&-(.&(.E …iliothèues ans rontières … wor”s internationally to facilitate …elieving in eual opportunities for diverse talents in the (."(.,*,(/,#&'#(-.-(,-#&#(.".."31#&&(#(),, access to education, culture and information for people living in IT industry, —owercoders saw the issue of high numers -. .) .""&&(!-) ."<; d(./,3)( #(.&3( .#0&3D (<:<;E precarious situations, empowering them and enaling them to ma”e of out€of€wor” refugees and migrants comined with 9)>(,.#)(--/**),.)0,?:d),!(#-.#)(-1),%#(!.)"#0 choices for a etter future. high numers of vacancies in the IT sector and came !,.,+/&#.3 ),#-0(.!!,)/*-D †‡ˆo‰enerations supported three … pro„ects in 2021™ up with a solution. £eveloping the «ffline Internet —latform™ a free and open€source †‡ˆo‰enerations is funding a programme called technological environment which recreates a local internet networ” uturecoders which ta”es the form of a wee”€long enaling users to connect via phone, talet or computer, and navigate camp during school holidays, or regular training …’s offline content ‡ apps lirary. It is now the “digital lirary platform” over a ten€wee” period, giving young people the running in all of …’s pro„ects, reporting more than 1“0,000 connections chance to get to ”now the digital world and to per year, primarily in the reat La”es †egion of ƒfrica, in …angladesh, learn programming. The target eneficiaries ordan and the ƒustralian remote territories. are 1©€ to 1¦€year€olds from disadvantaged afe spaces for women and girls in …angladesh™ †‡ˆo‰enerations’ ac”grounds, many of them migrants and asylum see”ers. The goal is to support will enale more than ‰00 †ohingya refugee women and girls inspire as many young people as possile to consider a career in digital to access programmes that directly address their needs, giving them technology, whilst also uilding the 21st century s”ills that all young spaces to learn and feel empowered. people will need in order to flourish in their futures. Šotorcycle liraries in ˆameroon™ This pro„ect will provide more than ‰,000 young people with access to oo”s, comics, films and games, with a focus on local ˆameroonian artists, in order to help them access information, education and learn aout their cultural heritage. EŠpower Entreprendre —our ƒpprendre Empower supports young people in emerging mar”ets Entreprendre —our ƒpprendre, a memer of unior who were living at the margins long efore the ˆovid€1’ ƒchievement œorldwide, eŽists to foster entrepreneurial pandemic. The arriers that these young people, spirit in young people across rance. Through particularly girls, face to securing education and mini€enterprise programmes Entreprendre pour decent employment have now multiplied many times ƒpprendre helps young people to develop a spirit over. There is an urgent need to help marginalised of enuiry and initiative, in order to e ale to girls and young women to overcome arriers and ecome active participants in their professional, develop their s”ills and talents. social and environmental futures. œith support †‡ˆo‰enerations will support a curated from †‡ˆo‰enerations Entrepreprendre —our portfolio of grassroots organisations in India to ƒpprendre will e ale to finance ten mini€ provide meaningful support to girls and women, enterprise programmes, supporting more than enhancing their s”ills, providing training and creating space for them to 100 young people. †‡ˆo‰enerations has generate ideas and pursue solutions to the arriers that hold them ac”. additionally provide volunteer and pro€ono advisory support.
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5.4 Data and cybersecurity )( #(.#&#.3#-) *,')/(.#'*),.(.))/,,)/*D.% ")."-"#&9) ( ),'.#)(/,#.3,)!,''#-!/#3."d*'-( " ( ),'.#)(/,#.3.'�,-)(&#( ( ),'.#)(/,#.3(. **,)*,#.."(#&(),!(#-.#)(&'-/,-.)- !/,)( #(.#& &'*%,!'&-*!,1'$!1()/.&#(-),*,#(#*&-E.#0#.#-E ,)..#)(.,#(#(!.)&&(1$)#(,-(((/&&3.)&&'*&)3-D #( ),'.#)((&&'*&)3-,2*..)2,#-.""#!"-.&0& !)0,(((,-)/,-.".)&&.#0&3*,)0##( ),'.#)()(-/,#.3 "d)'*&.#)(,.) ." ( ),'.#)(/,#.3.,#(#(!)(/.1#."#( ) d/,(..(.#)(1"(&#(!1#.")( #(.#&#( ),'.#)()/. -,0#-.).",)/*()/,&#(.-D"*,)!,''(&--(#), %#&&-.#(<:<;1-CA\D (#.#)(E ( ),'.#)(/,#.3,/(/.#)( .",)/*),)/,&#(.-D"-2*..#)(-,&,&3)''/(#. '(!'(..)'%,#-%'(!'(.#-#)(-3*,)0##(!#( ),'.#)( '*#!(--1&&-,!/&,*"#-"#(!.-.-.)&&'*&)3-D (#0#/&-1") #(d."d,)/*)) )(/.D )/.."),!(#-.#)(M-#( ),'.#)(-/,#.3*#&#.#-D .#-#'. #&.1)),'),*"#-"#(!.-.-1#."#(."3,S3#.",&#%#(!)(."&#(% "/-#(---)''/(#.)*(&31#."."#,&#(.-#(,&.#)(.)")1."3 -/**),.#(!." )&&)1#(!)$.#0-) .",)/*M-#( ),'.#)(-/,#.3 ),d.."'(.T,#0#.#)(&.,!..,#(#(!D#.#)(&,-)/,-, /-)( #(.#&#( ),'.#)(E#(&/#(!d(*+'&$,D",)/*. -.,.!3--/**),.3.",)/*2/.#0Fd &-)*,)0#.)&&'*&)3-)()/,#(.,(.D ,)..#)() #(-."),*,#(#*&- ),*,)..#(!*,-)(&. (-/,.")( #(.#&#.3E#(.!,#.3(0#&#&#.3) &#(.(*,-)(& ")."-"#&d9d) /,#.3( ( ),'.#)(/,#.3#-%*,.'(.- *,)--3),)("& ) .",)/*("&*- #&#..)'*&#(1#." .(*,)*,#.,3#( ),'.#)(#,,-*.#0) ),'G )(.#(/)/-&3)(.,)&(!)0,(."�,3) 3e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d*."#(!G ",)'*&#(')(#.),#(!E,*),.#(!),#(.,(&/#.-,0&(3 -*)(-E(.,&#-&)!-)/,-(/,#.3 (#(.0(.)(#.),#(!D .",...#)(#(&/#(!0/&(,#&#.3'(!'(.E*(.,.#)(.-.#(! )(,(-E,'#&.#)(#--1# .&3.%(D3-.'-()(.,)&-,,!/&,&3 .",3,."()&)!3#(#.#.#0-#(&/*,#0#&!--'(!'(. (-/,#.30(.')(#.),#(!G .-.(,0#1.)(-/,."3,#(&#(1#."."()&)!#& (d)*,.#(!-3-.'",(#(!D #(.#.3--'(!'(.(-*# #&&3*,#0#&!--)(.,)& 0&)*'(.-(,!/&.),3),',%.*,.#D (d'#&0,# #.#)(ED!DG "-/,#.3) ."#( ),'.#)(1*)----(")&#(,&.#)(.))/,&#(.-E )0,((E#-%9)'*&#(*&. ),'&&)1-.) ),'&&3)/'(. #--.,,)0,3.-.)),#(.#)( ),.(., #&#.#-E'$),) #-E '*&)3-E/-#(---()/,/-#(--*,.(,-#-0#.&.))/,)(.#(/ 3,,#-%-E')(-.,.)'*&#(1#."-/,#.3)(.,)&)$.#0- &)&) #-(,)0,3-#.-G -/--D",)/*M-!&)& ( ),'.#)(/,#.3,)!,''#-#'. (d*, ),'.,((&3--) -/,#.3#(#(.-D '(!#(!."--)#.,#-%-D --)(-&,(,0#1-,)'*&..)/(,-.(# *,)/,- -/,#.3#(#(.,-*)(- (d)(.,)&-1, .#01"(&#(!1#."(#(#(.D !&)&.(., #&#.3#- d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�,3.)."#-%(/#.)''#..(,)/**,.#(! )."-"#&9).(#( ),'.#)(D '(*,+&!&(&&, -*!,1(*,%&,*('*,!&,', $'$ )''#..D ! &'*%,!'&!*> -."()&)!3)'-'),)'*&2(-)*"#-.#.E-))."3, ,#-%-."./-#(--- D
6. Appendices @D; (#0,-&, ,(.& >B @D< .%")&,#&)!/ ?; @D= *,.#)(&#'*.(*)*&/&./, ?@ @D> *,.#)(&(0#,)('(.&#'*. @: @D? *),.#(!-)*, ,(('."))&)!3 @>
6.1 Universal reference table " )&&)1#(!.&, ,(--/-.#(#&#.3#-&)-/,-*,-(.#(."#-,*),.E'**#(!."'!#(-.."&)&*),.#(! (#.#.#0.(,-S TE."!,)/*M-)''#.'(..).";:d*,#(#*&-) ."(#..#)(-&)&)'*. STE."/-.#(&0&)*'(.)&-STE(.",)''(.#)(-) ."-% ),)(&#'.P,&.#((#&#-&)-/,STD I5J I6J > ,)/*P1#*/,*)--..'(.E!/##(!*,#(#*&-(-/-.#(#&#.3'#.#)(-*,.) )."-"#&9)M- D;D; ;P;: ;:G;: ;P;: ;:
A .,.!3T &,!)0,(() -/-.#(#&#.3'..,-E.%(.).""#!"-.&0&#(."),!(#-.#)( D;D< ;@ ;:: D@D; ;:
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> )(.#(/)/-(!!'(..")/!"2.,(&*,.(,-"#*-(d*/&#)''#.'(.- D;D= ?E;:E;(,.#)(--#.*"#&(.",)*#*&. ),' D @EBEC ?E;:E;=E;? >;=P; D=D@ D>D@ S;T "#-,*),.1-1,#..(#()(-#,.#)() -.(,-;:;(;:=D",**,)*,#.E.",*),., ,(--&. .(,-E),*,.-) ."#,)(.(.E.),*),.-*# ##( ),'.#)(1#." P, ,(&#'D S
&!.*+$**&,$I'&,!&-J I5J I6J > '*.) &#'."(!)()/,)*,.#)(-E*,)/.-9-,0#- D=D< AEBEC ;= <:;P< )0,((TET#-% D=D= '(!'(.TET D=D> .,.!3.)#(0-.#(--.-1"#"-/**),..".,(-#.#)(.)dd&)1,)()()'3(U),#'.)*,).. DP< #-%(!'(.TET ),d*,-,0d#)#0,-#.3 D=D< (!#(!)*,.#)(& '#--#)(- D=D> AEBEC AE;G=:>P= '(!'(.TET.,#-] =:?P;G=:?P< .,!.-TETET =:?P=G=:?P> =:?P? -*)(-#&)(-/'*.#)((,-)/,/-)(.,#/.#(!.)d#)#0,-#.3*,)..#)((*,-,0.#)( D=D> AEBEC ;:E;P=G=:@P= =:@P>G=:@P? "#&(.",)*#-/**),. ),*,)..#)() #)#0,-#.3(d0)#() &#'."(! D=D@ AEB ;=E;? =:>P= "#&(.",)*#-/**),..)"&*,--(&&0#.#(+/&#.#- D @ ?E;: >;=P; D=D@ D>D@ )&##-(#(#.#.#0-.)()/,!#0,-#.3(#(&/-#)((,.((0#,)('(.) +/&)**),./(#.3 D>D< =E@ ?E;: >:?P; (d*,.(,-"#* 0&)*#(!."-..&(.U.,#(#(!)**),./(#.#- D>D< @ ?E;: >:>P;G>:>P:>P= )-.,#(!+/&#.3-)#&#&)!/()&&.#0,!#(#(!!,'(.- D>D< =E@ ?E;: ;:
; !/,#(!*"3-#&E'(.&(').#)(&"&."E- .3d(1&&#(!) '*&)3- D>D< >:=P;G>:=P:=P= D@D< >:=P?G>:=P@G>:=PB )&##-#'*&'(.#(&#(1#."."'#(*,)0#-#)(-) d."d (.,(.#)(& )/,,!(#-.#)(M- /('(.& D>D; ;EE?Ed@ ?E;:E;@ >:AP;G>:BP;G>:CP; )(0(.#)(-)( /'(#!".- D>D< >;
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