Klimawandel-Umweltschutz IV-12.02.2020

Wissen

1231 Aufrufe

Speichern

Drucken

Weiterleiten

PDF an Freunde weiterleiten:

Ihre IP-Adresse wird aus Sicherheitsgründen gespeichert um kriminelle Aktivitäten und unerlaubten Spam zu unterbinden. Leiten Sie nur E-Mails weiter, wo der Empfänger mit dem Versand auch einverstanden ist.

Eigene PDF Hochladen

PDF & Publisher Info

(QR-Code downloaden)

Kleveleve, 12.02.2020

https://pdf-ins-internet.de/?p=69294

Bündnis 90 / Die Grünen + Die Deutsche Autoindustrie Seit mehr als 2 Jahrzehnten verant...
Alles anzeigen

Bündnis 90 / Die Grünen + Die Deutsche Autoindustrie Seit mehr als 2 Jahrzehnten verantwortlich für den Klimawandel

2IIHQHU%ULHIGHQ

%QGQLV'LH*UQHQ������������������������
�+�H�U�U�Q��5�R�E�H�U�W��+�D�E�H�F�N�
�3�O�D�W�]��Y�R�U��G�H�P��1�H�X�H�Q��7�R�U���
�
�������%�H�U�O�L�Q�
�
�
�.�O�L�P�D�Z�D�Q�G�H�O�����8�P�Z�H�O�W�V�F�K�X�W�]���,�9�
�
�
6HKUJHHKUWHU+HUU+DEHFN

LFKEH]LHKHPLFKDXIPHLQH6FKUHLEHQQHEVW$QODJHQYRP
±
1XQLVWMDZLHGHUYLHO=HLWYHUJDQJHQDEHUVXEVWDQWLHOOKDWVLFKQLFKWVEHZHJW
XQGQLFKWVJHlQGHUW
:HQQ PDQHLQPDO GLH$NWLYLWlWHQXQG9HUDQWZRUWXQJVEHUHLFKHLQ %XQGXQG
/lQGHUQ ]% 15: YRQ %QGQLV 'LH *UQHQ LQ GHU 9HUJDQJHQKHLW
EHWUDFKWHW VR KDW,KUH 3DUWHL GHQ .OLPDZDQGHO EHI|UGHUW XQG GHQ
.OLPDVFKXW]VWUlIOLFKYHUQDFKOlVVLJW
'LH SROLWLVFKH 6DQNWLRQLHUXQJ XQG GDPLW (QWZDOGXQJ GHV %UDXQNRKOH
7DJHEDXV+DPEDFKXQG*DU]ZHLOHULQ15:VLQGGLHÄ0HLVWHUOHLVWXQJHQ³
YRQ%QGQLV'LH*UQHQ
$XFK0RRUHLP(PVODQGEHNDQQWDOVZLFKWLJH&26SHLFKHU±ZXUGHQDXV
SROLWLVFKZLUWVFKDIWOLFKHQ *UQGHQ ÄHQWZlVVHUW³ XQG ÄWURFNHQ JHOHJW³ PLW
HQWVSUHFKHQGHQ)ROJHQ
%QGQLV 'LH *UQHQ KDEHQ DXFK QLFKW LQWHUYHQLHUW DOV GLH %DKQ DXI
%|UVHQIlKLJNHLWJHWULPPWZXUGH'LH)ROJHLVWGDVVLQOlQGOLFKHQ*HJHQGHQ
YLHOH%DKQVWUHFNHQVWLOOJHOHJWZXUGHQ3HQGOHUPVVHQHLQ$XWRQXW]HQXP]XU
$UEHLW]XNRPPHQhEHUGHUHQÄ/XIWYHUSHVWXQJ³PRNLHUHQ6LHVLFKKHXWHXQG
IRUGHUQ6LHDXI($XWRV]XNDXIHQ'DVVDXFK%QGQLV'LH*UQHQYRQGHU
$UEHLWGLHVHU%UJHUXQGGHUHQ6WHXHUQSDUWL]LSLHUHQVFKHLQHQ6LH]XYHUJHVVHQ
XQJHDFKWHWGHU7DWVDFKHGDVVGLHVH0HQVFKHQVLFKXQGLKUH)DPLOLHQHUQlKUHQ
P|FKWHQ

Eingestellt über www.PDF-ins-Internet.de - Haftung für Inhalt und Inhaber aller Rechte ist der Puplisher
Kontaktdaten und Anbieterkennung des Puplishers/Autors entnehmen Sie bitte dem PDF-Archives auf www.PDF-ins-Internet.de.

$NWXHOO VLQG HV 6DFKWKHPHQ ]X GHUHQ /|VXQJ %QGQLV 'LH *UQHQ QLFKW
IlKLJVLQGQXQEULQJHQ6LHDOVÄ*UQHQ&KHI³MHGRFKQRFKbXHUXQJHQGLH
VFKRQHUVFKUHFNHQGVLQG
7KULQJHQVROOÄHLQRIIHQHVIUHLHVOLEHUDOHVGHPRNUDWLVFKHV/DQGZHUGHQ³
,QGHU6HQGXQJDP3URJUDPP0D\EULWW,OOQHU8KUKDWGLH
%HY|ONHUXQJ HUNHQQHQ N|QQHQ ZDV 6LH XQWHU HLQHP GHPRNUDWLVFKHQ /DQG
7KULQJHQYHUVWHKHQ6LHEHVFKXOGLJHQDQGHUH3DUWHLHQGLIIDPLHUHQ3HUVRQHQ
XQGVSUHFKHQVHOEVWLPPHUQXULQ.RQMXQNWLYHQKlWWHN|QQWHPVVWHXVZXVZ
1DFKZHLVH]X,KUHQ%HKDXSWXQJHQZHUZLHJHVWLPPWKDWN|QQHQ6LH
QLFKW OLHIHUQ GD MD ZRKO GHU Ä:DKO]LUNXV³ LQ JHKHLPHU  $EVWLPPXQJ
HUIROJWHXQG6LHDXHUGHPQLFKWWHLOQDKPHQ'DVZDV6LHDQGHP)6$EHQG
XQGLQVSlWHUHQ 7DJHQ SXEOL]LHUW KDEHQ GLHQWH OHGLJOLFK GHU
6WLPPXQJVPDFKH
+HUU+DEHFN6LHN|QQHQGRFKQLFKWHLQPDOIU,KUH3DUWHLDXVVFKOLHHQGDVVHV
LQ,KUHU3DUWHL3HUVRQHQPLWOLQNHPXQGUHFKWHP*HGDQNHQJXWJLEW
(ULQQHUQ6LHVLFKQRFKGDVVLQGHU9HUJDQJHQKHLWEHL:DKOHQHLQIUKHUHV
6$0LWJOLHG+HUU%DOGXU6SULQJPDQQDXI3ODW]VWDQG1DFK]XOHVHQXQWHU
6SLHJHOGH*HVFKLFKWHÄ*UQHQJUQGHU$OOHVNOHLQH0LVVLRQDUHXQG
HLQ1D]L³±6RZHLW]XGHQ)DNWHQ
,P -DKU  JDE HV GLH )LOELQJHU$IIlUH6LH HULQQHUQ VLFK &'8
0LQLVWHUSUlGVLGHQW%DGHQ:UWWHPEHUJ/HVHQ6LHHVPDOQDFKLP,QWHUQHWXQWHU
:,.,3(',$
(ULQQHUQP|FKWHLFK6LHXQG%QGQLV'LH*UQHQDXFKDQIROJHQGH=DKOHQ
GLHDOV(UJHEQLVVHDPWOLFKIHVWJHVWHOOWXQGSXEOL]LHUWZXUGHQ
Ä(+5/,&+(³:DKOHUJHEQLVGHU%XQGHVWDJVZDKOLQ
&'81LFKWZlKOHU63'$)')'3/LQNH*UQH

Ä(+5/,&+(³:DKOHUJHEQLV/DQGWDJVZDKO7KULQJHQLQ

%HLGHU%XQGHVWDJVZDKOZDUHQEHUHLWVHLQGULWWHOGHUZDKOEHUHFKWLJWHQ
%UJHUQLFKWPLWGHU3ROLWLNGHUÄGHPRNUDWLVFKHQ3DUWHLHQ³HLQYHUVWDQGHQ
%HL GHU/DQGWDJVZDKO  LQ 7KULQJHQVLQGHV VFKRQ   GHU
ZDKOEHUHFKWLJWHQ%UJHUGLHPLWGHQÄGHPRNUDWLVFKHQ3DUWHLHQ³QLFKWV]XWXQ
KDEHQZROOHQXQGLKQHQQLFKWPHKUJODXEHQ
:DV 6LH XQG )UDX %DHUERFN XQWHU ÄGHPRNUDWLVFK³ YHUVWHKHQ LVW LP ,QWHUQHW
KLQUHLFKHQGQDFKOHVEDU±%HUFNVLFKWLJHQ6LHDOOHUGLQJVGDVV$EJHRUGQHWHODXW
*UXQGJHVHW] QXU LKUHP *HZLVVHQ YHUSIOLFKWHW VLQG XQG QLFKW LUJHQGZHOFKHQ
3DUWHLYRUJDEHQ'LH%UJHUYRQ7KULQJHQKDEHQLQIUHLHU:DKOHUNOlUW

Ä:LUVLQGGDVV9RON³

0LWZHOFKHQ7ULFNVHUHLHQMHW]WGLHÄGHPRNUDWLVFKHQ3DUWHLHQ³GLH8PJHVWDOWXQJ
GHV:lKOHUYRWXPVGXUFK]XIKUHQJHGHQNHQHULQQHUWVHKUDQGLH(UIDKUXQJHQ
GHV-DKUKXQGHUWV
'LH ÄGHPRNUDWLVFKHQ³ %QGQLV 'LH *UQHQ XQG DQGHUH 3DUWHLHQ PVVHQ
GULQJHQGGDUEHUQDFKGHQNHQZLHVLHDOOH0HQVFKHQ:lKOHUXQG1LFKWZlKOHU
LQ(QWVFKHLGXQJVSUR]HVVHHLQELQGHQXQGQLFKWYRQREHQHWZDVYHUNQGHQZDV
GLH %UJHU ]X WXQ XQG ]X ODVVHQ KDEHQ6R JHKW HV QLFKW PHKU 'LHVHU
3DUWHLHQNOQJHOXQGGDV6FKOHFKWUHGHQDQGHUHUSROLWLVFKHU0HLQXQJHQPXVV
DXFKLP1DPHQGHU*OREDOLVLHUXQJHQGOLFKHLQ(QGHKDEHQ
6LHXQG,KUHGHPRNUDWLVFKHQ)UHXQGHKDEHQGDVV=XK|UHQXQGGDV5HGHQ
PLWGHP0HQVFKHQYHUOHUQW
$XFKSHUV|QOLFKH$QJULIIHDXIDQGHUH3ROLWLNHUVROOWHQ6LHXQWHUODVVHQ
+HUU*DXODQGLVWLQ&KHPQLW]JHERUHQZDUYRQ0LWJOLHGGHU
&'8XQGGRUWLQZHVHQWOLFKHQSROLWLVFKHQ)XQNWLRQHQLQ+HVVHQWlWLJ
(U ZDU *UQGXQJVPLWJOLHG  GHU JHJHQ GHQ(XUR JHULFKWHWHQ
:DKODOWHUQDWLYH  ZHLWHUH *UQGXQJVPLWJOLHGHU 3URI %HUQG /XFNH
.RQUDG$GDP*HUG5REDQXVDXVGHUVSlWHUGLH$I'KHUYRUJLQJ
/HVHQ6LHHLQIDFKPDOGHQ$UWLNHO:HOWGHYRPÄ(QWWlXVFKWH
&'83ROLWLNHUJUQGHQ:DKODOWHUQDWLYH³
+LQWHUJUXQGZDUHQGLH)LQDQ]KLOIHQIU*ULHFKHQODQGÄ%XQGHVNDQ]OHULQ$QJHOD
0HUNHO YHUVLFKHUWH DP  YRU GHP %XQGHVWDJ HV ZHUGH NHLQH GLUHNWHQ
)LQDQ]KLOIHQIU*ULHFKHQODQGJHEHQ6FKRQZHQLJH6WXQGHQVSlWHUEUDFKVLH
GLHVHV9HUVSUHFKHQXQGHLQLJWHVLFKQRFKDP$EHQGGHVVHOEHQ7DJHVPLWGHQ
6WDDWV XQG 5HJLHUXQJVFKHIV GHU (XURVWDDWHQ DXI GDV HUVWH +LOIVSDNHW IU
*ULHFKHQODQG³
'DV.DELQHWW0HUNHO,,,UHJLHUWH&'8&6863'
6RZHLW]XU'HPRNUDWLH9HUWUDXHQVZUGLJNHLWXQG+DQGHOQGHU3ROLWLNHU����������������������������������
�����
�,�P� �%�D�\�H�U�Q��:�D�K�O�N�D�P�S�I� ����� �K�D�E�H�Q� �6�L�H� �J�H�l�X���H�U�W�� ���(�Q�G�O�L�F�K� �J�L�E�W� �H�V� �Z�L�H�G�H�U���
�'�H�P�R�N�U�D�W�L�H��L�Q��%�D�\�H�U�Q����
�,�K�U�H� �D�N�W�X�H�O�O�H��7�U�X�P�S��6�F�K�H�O�W�H� �R�I�I�H�Q�E�D�U�W� ���H�L�Q�H� �H�U�V�F�K�U�H�F�N�H�Q�G�H�U� �D�X���H�Q�S�R�O�L�W�L�V�F�K�H��
�(�L�Q�I�l�O�W�L�J�N�H�L�W��� �X�Q�G� �8�Q�E�H�K�H�U�U�V�F�K�W�K�H�L�W�� �(�L�Q� �V�F�K�O�L�P�P�H�U�H�V� �8�U�W�H�L�O� ���E�H�U� �H�L�Q�H�Q�
�G�H�X�W�V�F�K�H�Q��3�R�O�L�W�L�N�H�U��J�D�E��H�V��O�D�Q�J�H��Q�L�F�K�W��
�$�X�F�K� �,�K�U�H� ���:�L�V�V�H�Q�V�O���F�N�H�Q��0�l�U�F�K�H�Q��� �L�P� �=�X�V�D�P�P�H�Q�K�D�Q�J� �P�L�W� �G�H�U� �3�H�Q�G�O�H�U�
�S�D�X�V�F�K�D�O�H��V�L�Q�G��M�D��Z�R�K�O��V�N�D�Q�G�D�O�|�V��
�
�'�L�H��S�R�O�L�W�L�V�F�K�H�Q��%�H�I�l�K�L�J�X�Q�J�H�Q��G�H�U��*�U���Q�H�Q��Z�H�U�G�H�Q��D�X�F�K��Q�L�F�K�W��G�D�G�X�U�F�K��E�H�V�V�H�U��
�G�D�V�V� �G�L�H�QHXH -XVWL]PLQLVWHULQ LQ 6DFKVHQ± )UDX .DWMD 0HLHU± LQ ÄLKUHU
-XJHQG]XHLQHU=ZLFNDXHU3XQNEDQGJHK|UWHGLHGLH/LHG]HLOHVDQJÄ$GYHQW
$GYHQW±HLQ%XOOHEUHQQWHUVWHLQGDQQ]ZHLGDQQGUHL³)RFXV

%UJHUVFKDIWVZDKO LQ+DPEXUJ± *UQH UFNHQ EHUUDVFKHQG YRQ
/RFNHUXQJGHV9HUPXPPXQJVYHUERWDE
,Q6FKOHVZLJ+ROVWHLQ KDW GLH *UQHQ)UDNWLRQ GDV 9HUERW GHU
9ROOYHUVFKOHLHUXQJDQ+RFKVFKXOHQHLQVWLPPLJDEJHOHKQW1'5
,KUH/DQGHVFKHILQLQ6+±)UDX.DWKULQ7UDQ]LVND±VROOPDOGDUOHJHQZLHHLQ
YROO YHUVFKOHLHUWHV :HVHQ0DQQ RGHU )UDX RGHU GDV GULWWH *HVFKOHFKW HLQH
³ZHOWRIIHQH *HVHOOVFKDIW³ UHSUlVHQWLHUW± +HUU 6DUUD]LQ OlVVW JUHQ
Ä'HXWVFKODQGVFKDIIWVLFKDE³RGHUEHVVHU%QGQLV'LH*5h1(1VFKDIIHQ
XQVDOOHDE
%HIUZRUWHQ 6LH +HUU +DEHFN XQG %QGQLV 'LH *UQHQYROO
YHUVFKOHLHUWH 3HUVRQHQ LQ GHU %XQGHVUHSXEOLN 'HXWVFKODQG XQG (XURSD
XQGLQXQVHUHQ/DQGHVSDUODPHQWHQXQGGHP%XQGHVWDJGLHNQIWLJ6LW]
XQG6WLPPHKDEHQVROOHQ"(UNOlUHQ6LHVLFKKLHU]XHLQPDO|IIHQWOLFK
:LH ZlUH HV PLW YROOYHUVFKOHLHUWHQ5HSUlVHQWDQWHQ XQVHUHV 6WDDWHV ZLH
3ROL]LVWHQ 6WDDWVDQZlOWHQ 5LFKWHUQ XQG 3ROLWLNHUQ XVZ ,VW GDV GLH *5h1(
ÄZHOWRIIHQH*HVHOOVFKDIW³YRQ)UDX7UDQ]LVND

+HUU%RULV3DOPHUJUQHU2%VSULFKWHVDXV
Ä%XUNDXQG1LNDEKDEHQLQHLQHUDXIJHNOlUWHQ*HVHOOVFKDIWNHLQHQ3ODW]³
$XFK+HUUg]GHPLUHUNOlUWVLFKHLQGHXWLJ

6LH+HUU+DEHFNIRUGHUQMHW]WGHQÄ7LHUVFKXW]FHQWDQGHU6XSHUPDUNWNDVVH³
:DUXPVROOGHU9HUEUDXFKHUQHXHUGLQJVGHQÄ8PEDXYRQ6WlOOHQ³ILQDQ]LHUHQ
0DO ZLHGHU HLQH )RUGHUXQJ HLQ 9HUERW XQG $E]RFNHXQG QXU OHHUH /XIW
GDKLQWHU
(ULQQHUQ6LHVLFKQRFKDQGLHÄ5LHVWHU5HQWH³±YRQ%QGQLV'LH*UQHQ
XQG 63'DXVJHGDFKW XQG HLQJHIKUW(LQHQ VFKOLPPHUHQ 8QVLQQ XQG
,UUHIKUXQJ GHU %UJHU JLEW HV QLFKW UHFKQHQ 6LH PDOULFKWLJ QDFK ZDV LP
(UJHEQLVIUGLHEHWUHIIHQGHQ0HQVFKHQGDEHLKHUDXVNRPPWGHU.DEDUHWWLVW
3LVSHUVOlVVWJUHQ

'HU'LJLWDOH[SHUWHYRQGHQ*UQHQ+HUU'LHWHU-DQHFHNEULQJWEHL
HLQHU7HPSROLPLW)RUGHUXQJ VFKRQ ZLHGHU HLQH )RUGHUXQJ LQV 6SLHO XQG
]ZDUÄ$XVQDKPHQIU(OHNWURDXWRV³

)lOOW,KQHQXQG,KUHU3DUWHLHLJHQWOLFKQLFKWV%HVVHUHVPHKUHLQ"""
6FKDIIHQ6LHHUVWPDOEHLÄOHLFKWHQ³6DFKYHUKDOWHQHLQHHLQKHLWOLFKH|IIHQWOLFKH
0HLQXQJEHYRU6LHVLFK]XWHFKQLVFKDQVSUXFKVYROOHQ7KHPHQZLH(0RELOLWlW
lXHUQ
6HW]HQ6LHVLFKIU%UHQQVWRII]HOOHQ$XWRVE]Z$XWRVPLW9HUEUHQQHUGLH
:DVVHUVWRIIQXW]HQN|QQHQXQGGLHGD]XJHK|ULJHQ:DVVHUVWRIIWDQNVWHOOHQ
HLQ:HQQ GDV QLFKW JHVFKLHKW ZLUG GLH GHXWVFKH XQG HXURSlLVFKH
$XWRLQGXVWULHHVQLFKWEHUOHEHQ

'LH)HUQVHKVHQGXQJLP(UVWHQYRP-DQ$QQH:LOOÄ.OLPDVFKXW]XQG
.RKOHQDXVVWLHJ"³YHUGHXWOLFKWHIUGLH=XVFKDXHUGDVV+HUU+RIUHLWHUZHGHU
YRQ GHQ WHFKQLVFKHQ =XVDPPHQKlQJHQ QRFK GHQ GHU]HLWLJHQ  0|JOLFKNHLWHQ
.HQQWQLV KDW 6HLQH (LQODVVXQJHQ EHOHJHQ HLQH EHVFKlPHQGH 8QNHQQWQLV GHU
0DWHULH1XU:LQGUlGHUXQG6RODU]XEHMXEHOQRKQH]XVDJHQZRKHUZlKUHQG
GHU'XQNHO]HLW6WURPNRPPHQVROOLVWPHKUDOVGUIWLJ6SHLFKHUWHFKQRORJLH
XQGGDV1LFKWYRUKDQGHQVHLQVLQGDQVFKHLQHQGXQEHNDQQWH%HJULIIH

:DVVHUVWRII7DQNVWHOOHQODVVHQVLFKEULJHQVDQDOOHQGHXWVFKHQ$XWRK|IHQ
HQWODQJGHU$XWREDKQHQLQVWDOOLHUHQ+LHUJLEWHVJHQJHQG3ODW]XQGGLH
WHFKQLVFKHQ 0|JOLFKNHLWHQ 8QG GLH .RVWHQ VLQG ULFKWLJ SUHLVZHUWHLQH
:DVVHUVWRII7DQNVWHOOHNRVWHWQDFKDNWXHOOHQ'DWHQFD±0LOOLRQHQ
(XUR$QPHUNXQJEHL7DQNVWHOOHQIOlFKHQGHFNHQGNRVWHQGLHVHFD
±0LOOLDUGHQ(XUR
/HLFKW ]X ILQDQ]LHUHQ ZHQQ PDQ EHGHQNW GDVV9: LQ .ODJHQ PHKU DOV 
0LOOLDUGHQ (XUR YHUVHQNW KDW GLH %UJHU GDV 1DFKVHKHQ KDEHQ(V IHKOW LQ
YLHOHQ%HUHLFKHQKLQWHQXQGYRUQHXQGGDQQZLOO9:DXFKQRFK6WHXHUJHOGHU
:RIU±XPK|KHUH'LYLGHQGHQDXVVFKWWHQ]XN|QQHQ"(VLVWHLQ6NDQGDO
8QG6LH+HUU+DEHFNXQG%QGQLV'LH*UQHQEHIUZRUWHQGLHVHQ8QVLQQ
DXFKQRFKPLWJURHQ6SUFKHQ1DFKHLQHU9HU|IIHQWOLFKXQJ:(/7YRP
,QWHUYLHZ+HUU+DEHFN'U'LHVV9:SRVWXOLHUWHQ6LH+HUU
+DEHFN DXV ÄSUDJPDWLVFKHQ *UQGHQ GLH HOHNWULVFKH 0RELOLWlW³ XQG
EHKDXSWHQ GDVV GLHVH 0RELOLWlW DXI ÄGHP :HJ LVW VLFK ZHOWZHLW DOV GLH
=XNXQIWVIRUPGXUFK]XVHW]HQ]XPLQGHVWIUGLHQlFKVWHQ-DKU]HKQWH³,P
JOHLFKHQ *HVSUlFK ÄSURSKH]HLW *UQHQ&KHI 5REHUW +DEHFN 9: GDV
8QWHUQHKPHQZHUGHVFKHLWHUQ³

,KUHHKHPDOLJHQ(LQODVVXQJHQLP,QWHUYLHZPLW+HUUQ'U'LHVVKDEHQVLFKLQ
QLFKWPDO]Z|OI0RQDWHQLQ/XIWDXIJHO|VW
,Q $QEHWUDFKW GLHVHU 6DFKODJH EHUVHQGH LFK ,KQHQ .RSLH  %ODWW PHLQHV
6FKUHLEHQV YRP  -DQ  DQ GLH9RONVZDJHQ $* +HUUQ 'U'LHVV XQG
HPSIHKOHGLHVH$XVIKUXQJHQ]XU9HUWLHIXQJDQ,KUH)KUXQJVNUlIWHLQ%XQG
XQG/lQGHUQZHLWHU]XOHLWHQ

8P GHQ DNWXHOOHQ 6DFKVWDQGXQG GLH 0DUNWNHQQWQLVVHZHLWHU ]X YHUWLHIHQ
QDFKVWHKHQGH+LQZHLVH

9',-DQ
%D\HUQ :DVVHUVWRIIODQG± %LV  ZLOO %D\HUQV :LUWVFKDIWVPLQLVWHU 
:DVVHUVWRII]DSIVlXOHQDXI%DVLVYRQ/2+&7HFKQLNLP/DQGLQVWDOOLHUWVHKHQ
',(6&+$))(1'$6

6SLHJHOGH
6PDUW0HWHUVLQG]XGXPPIU(OHNWURDXWRV
Ä'LH 0RGHOOH GLH EDOG DXVJHOLHIHUW ZHUGHQ N|QQHQ JDU QLFKW PLW GHQ
/DGHVWDWLRQHQ NRPPXQL]LHUHQ 0|JOLFKH )ROJH &KDRV LP 6WURPQHW] KRKH
6WURPSUHLVH6WURPDXVIlOOH³
7KH0RWOH\)RRO
Ä'LHDVLDWLVFKHQ/lQGHUDOOHQYRUDQ6GNRUHD-DSDQXQG&KLQDLQYHVWLHUHQ
PDVVLY LQ GLH %UHQQVWRII]HOOHQWHFKQRORJLH ZHVKDOE GDV :DFKVWXP KLHU VWDUN
DQ]LHKWXQGWHFKQRORJLVFKGLHJU|WHQ)RUWVFKULWWHHUZDUWHWZHUGHQ%HVRQGHUV
:DVVHUVWRII%UHQQVWRII]HOOHQZHUGHQYHUVWlUNWJHI|UGHUW³
$XWRPRELOZRFKH
'DLPOHU%HWULHEVUDWVFKHI%UHFKW$XWRLQGXVWULHPDFKWVLFKJHIlKUOLFKDEKlQJLJ
YRQDVLDWLVFKHQ%DWWHULHSURGX]HQWHQ
)2&86GH
3ROQLVFKH .OLPDDNWLYLVWHQ GHPRQVWULHUHQ LQ 'HXWVFKODQG IU GHXWVFKH
$WRPNUDIWZHUNH*UXQG 'HXWVFKHV 6WURPGHIL]LW ZLUG NQIWLJ DXFK PLW
.RKOHVWURPDXV3ROHQJHVFKORVVHQ'HXWVFKODQGVHLQLFKWLQGHU/DJHVHLQHQ
(QHUJLHEHGDUIQXUDXVUHJHQHUDWLYHQ4XHOOHQ]XGHFNHQ
'LH$EVFKDOWXQJGHU$.:CVLQ'HXWVFKODQGLVWHLQHUGHUJU|WHQ)HKOHU
GHUGHXWVFKHQ,QGXVWULHJHVFKLFKWHSUlMXGL]LHUWGXUFKGDV3DQLNJHUHGHYRQ
%QGQLV'LH*UQHQ
,Q)UDQNUHLFKJLEWHVGHU]HLW5HDNWRUHQ7VFKHFKLHQ6FKZHL]%HOJLHQ
XQG6SDQLHQMH)LQQODQG,QVJHVDPWVWHKHQLQ(XURSD5HDNWRUHQ
,Q(XURSDH[LVWLHUWHLQ6WURP9HUEXQGQHW]
+HUU+DEHFNLFKKRIIH6LHZLVVHQZDVGDVLVW:HQQLQ'HXWVFKODQGGHU:LQG
QLFKW ZHKW XQG GLH 6RQQH QLFKW VFKHLQW XQG ZLU DXFK NHLQH HQWVSUHFKHQGHQ
6SHLFKHUKDEHQQXW]HQN|QQHQZHUGHQZLUXQVHUHQ6WURPEHUGDV9HUEXQGQHW]
]ZDQJVOlXILJ RGHU ÄJQlGLJ³ DXV DQGHUHQ HXURSlLVFKHQ /lQGHUQ HUKDOWHQ
%HLVSLHOZHLVHDXVSROQLVFKHQ.RKOHNUDIWZHUNHQGLHGRUWGLH/XIWYHUSHVWHQXQG
GHP]XIROJHMHW]WSROQLVFKH$NWLYLVWHQLQ'HXWVFKODQGGHPRQVWULHUHQXQGDXIGLH
6WUDHJHKHQ±5HFKWKDEHQVLH
:DUXP VROOWHQ XQV DQGHUH /lQGHU 6WURP OLHIHUQ XQG LKUH /lQGHU YHUSHVWHQ
GDPLWGLH%XQGHVUHJLHUXQJXQGGLH*5h1(1HLQ&2±IUHLHV'HXWVFKODQG
ÄYHUKHLHQ³N|QQHQ±.ROODWHUDOVFKlGHQGHUPRGHUQHQ$UWLQQHUKDOE(XURSDV
6RVSDOWHWPDQ(XURSD
335HGDNWLRQ
%XQGHVUHJLHUXQJ ZHL VFKRQ VHLW ODQJHP XP GDV DQVWHKHQGH 6FKHLWHUQ
LKUHU (QHUJLHZHQGH 2IIHQHU %ULHI YRQ 3URI *LOEHUW %UDQGV DQ DOOH
)UDNWLRQHQ GHV GHXWVFKHQ %XQGHVWDJV +HUU +DEHFN NHQQHQ 6LH GLHVHQ
%ULHI" 'LHVHU $UWLNHO VWHOOW HLQH 3IOLFKWOHNWUH IU MHGHQ SROLWLVFK
9HUDQWZRUWOLFKHQGDU%ULVDQWLVW3XQNW$EV6WURPDXVIlOOH
:REOHLEWGLH:DKUKDIWLJNHLWGHUÄ'HPRNUDWHQ³"

:HOW]HLW
/LWKLXP±.ULHJLQ3RUWXJDO6ROOGLHV(XURSDNQIWLJEHI|UGHUQXQGZLH
VWHKHQGLH*5h1(1]XGLHVHU3UREOHPDWLN"±,QDQGHUHQ(UGWHLOHQDQVFKHLQHQG
QLFKWVRUHOHYDQWDEHUYRUGHUHLJHQHQÄ+DXVWU³ZDVLVW,KUH0HLQXQJ+HUU
+DEHFN",VW/LWKXPIU($XWRVZLFKWLJHURGHUVLQGHVGLH0HQVFKHQDXI
GHP*OREXV"
PDXWRRHDW
$9/gVWHUUHLFK]HLJWJQVWLJHV%UHQQVWRII]HOOHQDXWR
$OV )DKU]HXJSODWWIRUP IU GLH (QWZLFNOXQJVDNWLYLWlWHQ GLHQWH HLQ9:
3$66$7*7($QPHUNXQJ(UVWDXQOLFKZDVHVQLFKWDOOHVJLEWXQGZLH
VFKQHOOVLFKHWZDVWHFKQLVFKUHDOLVLHUHQOlVVWEHLÄ7HFKQRORJLHRIIHQKHLW³2GHU
VHKHQ6LHGDVDQGHUV+HUU+DEHFN"""
,:5
1XW]IDKU]HXJHPLW%DOODUG%UHQQVWRII]HOOHQOHJHQPHKUDOV0LOOLRQHQNP
]XUFN
)2&862QOLQH
($XWRV RKQH 6DIW 'HXWVFKH $XWREDXHU VFKOLWWHUQ LQ VHOEVWYHUVFKXOGHWH
%DWWHULHNULVH
+DQGHOVEODWW
%RVFK SUlVHQWLHUW QHXH %UHQQVWRII]HOOH 'DV %UHQQVWRII]HOOHQ)DKU]HXJ ZLUG
NQIWLJGDVDWWUDNWLYHUH3URGXNWVHLQ'LH)D5REHUW%RVFKEDXWH[WHQVLYVHLQH
:DVVHUVWRII%UHQQVWRII]HOOHQDNWLYLWlWHQDXV
:HOWGH
'HU ZHOWJU|WH $XWR]XOLHIHUHU$QP%RVFK ZLGHUVSULFKW 9: LQ GHU
:DVVHUVWRII)UDJH

+HUU+DEHFNZHQQ6LHJODXEZUGLJEOHLEHQZROOHQVROOWHQ6LH,KUHXQVLQQLJHQ
(LQODVVXQJHQ9HU|IIHQWOLFKXQJ:(/7YRPJHJHQEHU+HUUQ
'U 'LHVV 9: GDVVDXV ÄSUDJPDWLVFKHQ *UQGHQ GLH HOHNWULVFKH
0RELOLWlW³ DXI ÄGHP :HJ LVW VLFK ZHOWZHLW DOV GLH =XNXQIWVIRUP
GXUFK]XVHW]HQ]XPLQGHVWIUGLHQlFKVWHQ-DKU]HKQWH³VFKQHOOVWP|JOLFK
UHYLGLHUHQXQGGHQWHFKQLVFKHQ(QWZLFNOXQJHQDQSDVVHQ

+DQGHOVEODWW
Ä1DWLRQDOH :DVVHUVWRIIVWUDWHJLH³  0DQDKPHQ GLH 'HXWVFKODQG ]XP
9RUUHLWHUPDFKHQVROOHQ
+HUU 6WHSKDQ :HLO 03 1LHGHUVDFKVHQ XQG 9:$XIVLFKWVUDWVPLWJOLHG VDJW
Ä'LH:DVVHUVWRIIWHFKQRORJLHZLUGHLQHHQWVFKHLGHQGH5ROOHVSLHOHQ³
:DVPHLQHQ6LHGD]X+HUU+DEHFN"""

(FRPHQWRGH
%HUOLQHU3ROL]HLKDW]ZHL%UHQQVWRII]HOOHQ6WURPHUYRP7\S7R\RWD0LUDLIU
GHQWlJOLFKHQ(LQVDW]LP6WUHLIHQGLHQVWHUZRUEHQ
:HOWGH
Ä$XVVWLHJPLWVLHEHQ6FKZlFKHQ³6ROOWHQ6LH+HUU+DEHFNJHOHVHQKDEHQ
.HLQ]XVlW]OLFKHU.OLPDQXW]HQ
(UVDW]6WURPIUDJOLFK
)HKOHQGH9RUELOGIXQNWLRQ
5HFKWOLFKH8QVLFKHUKHLWHQ
%HODVWXQJIUGLH,QGXVWULH
9HUVRUJXQJXQNODU
.HLQH%HIULHGXQJ
0DQDJHU0DJD]LQGH
=XOHVHQLVWGHUKRFKLQWHUHVVDQWH$UWLNHOÄ0LW(0RWRUHQLQGLH6DFNJDVVH³
XQGHVZHUGHQÄ9LHU$UJXPHQWHJHJHQHLQHQ($XWR%RRP³EHVFKULHEHQ
)UMHGHQ3ROLWLNHUXQG$EJHRUGQHWHQLQ%XQGXQG/lQGHUQVROOWHGLHVHU
$UWLNHO ]XU 3IOLFKWOHNWUH ZHUGHQ EHYRU VLH ZHLWHU XQVLQQLJH
(QWVFKHLGXQJHQWUHIIHQ
,QJHQLHXUGH
6WDUWXS +<=21 DPHULNDQLVFKHV 8QWHUQHKPHQ SODQW GLH :DVVHUVWRII
5HYROXWLRQXQGZLOOGHU%UHQQVWRII]HOOH]XP'XUFKEUXFKYHUKHOIHQ1RFKHLQ
/DQGGDV'HXWVFKODQGWHFKQRORJLVFK]XYRUNRPPWXQGDEKlQJHQZLUG"
ZZZVFLQH[[GH������������4XHOOH$PHULFDQ,QVWLWXWHRI3K\VLFV
Ä:DVVHUVWDWW:DVVHUVWRIILP7DQN
1HXH:LVPXW/HJLHUXQJPDFKWGLH:DVVHUVWRII3URGXNWLRQPRELO
6FKXR;XYRQGHUFKHPLVFKHQ$NDGHPLHGHU:LVVHQVFKDIWHQKDEHQQXQHLQH
0HWKRGHHQWZLFNHOW"³+HUU+DEHFN6LHVROOWHQGHQJDQ]HQ7H[WVHOEHU
OHVHQ$XFKKLHUVLQGDQGHUH1DWLRQHQXQVWHFKQLVFKZHLWYRUDXV
ZZZHOHNWURDXWRQHZVQHW������������
1HXVHHOlQGLVFKH (QHUJLHXQWHUQHKPHQ EULQJHQ ODQGHVZHLW :DVVHUVWRII7DQN
VWHOOHQQHW]DQGHQ6WDUW
,Q 'HXWVFKODQG N|QQHQZLUQLFKW HLQPDO  :DVVHUVWRIIWDQNVWHOOHQ EDXHQ
E]ZYRUKDQGHQHHUZHLWHUQODVVHQIUFD0UG(XURDEHUZHUIHQVWDWWGHVVHQ
0LOOLDUGHQ 6WHXHUQ IU ($XWR 3UlPLHQ XQG VRQVWLJH6XEYHQWLRQHQ GHU
$XWRLQGXVWULHKLQWHUKHU
WRQOLQHGH
1HW]VLFKHUKHLWJHIlKUGHWÄ:LQGUlGHUEULQJHQGHXWVFKHV6WURPQHW]DQV/LPLW³
'HU RVWGHXWVFKH 6WURPQHW]EHWUHLEHU 0,71(7= PXVVWH  YLHOIDFK LQV
6WURPQHW]HLQJUHLIHQ*UXQGZDUHLQhEHUDQJHERWDQHUQHXHUEDUHU(QHUJLHHV
GURKHHLQHhEHUEHODVWXQJGHU6WURPQHW]H

7DJHVVSLHJHOGH
%DWWHULHQIUGLH(0RELOLWlW
,Q (XURSD HQWVWHKHQ ]XVlW]OLFKH %DWWHULH.DSD]LWlWHQ$VLDWLVFKH +HUVWHOOHU
KDOWHQGLHGHXWVFKHQ0DVFKLQHQEDXHUGDEHLDXHQYRU/*&KHP6DPVXQJ
XQG6.,EDXHQLQ3ROHQXQG8QJDUQ&$7/EDXWVLFKHLQHHUVWHHXURSlLVFKH
3URGXNWLRQLQGHU1lKHYRQ(UIXUW
(VJLEW6FKlW]XQJHQZRQDFKELVELV]X*:KDQ.DSD]LWlWLQ(XURSD
IHKOHQ'DVHQWVSULFKWHWZDV0LOOLRQHQ($XWRVLQGHU0LWWHONODVVHGLHGDQQ
QLFKWJHEDXWZHUGHQN|QQWHQ9RQGHU3ODQXQJELV]XU3URGXNWLRQGDXHUWHV
UXQG-DKUH
+DQGHOVEODWW
-HUHP\5LINLQ±=XNXQIWVIRUVFKHUXQG$XWRULP,QWHUYLHZ
Ä'LH:DVVHUVWRII:LUWVFKDIWLVWGD³
'HUgNRQRP=XNXQIWVIRUVFKHUXQG%HVWVHOOHU$XWRU5LINLQVDJWHEHUHLWV
GLH:DVVHUVWRIIZLUWVFKDIWYRUDXV
9RQLKPJLEWHVGHQ%HVWVHOOHUÄ'LH:DVVVHUVWRIIZLUWVFKDIW³XQGHU
EH]HLFKQHWGLHVHDOVGHQ%HJLQQGHUGULWWHQLQGXVWULHOOHQ5HYROXWLRQ³
+HUU+DEHFNOHVHQ6LHGHQ$UWLNHOXQGGDV%XFK
1XQZLUGSROLWLVFKGLH]HLWOLFKH%HWUDFKWXQJLQWHUHVVDQWXQGLFKYHUZHLVH
DXIPHLQ6FKUHLEHQYRPDQ6LHPLWIROJHQGHP7H[W
Ä'DV3UREOHP.OLPDZDQGHOLVWMDDXFKQLFKWYRP+LPPHOJHIDOOHQ
$XI%XQGHVHEHQHUHJLHUWHQ63'XQG*UQHYRQELVGHU%XQGHVXPZHOWPLQLVWHU
ZDU+HUU7ULWWLQ$XI/DQGHVHEHQHUHJLHUWHQ63'XQG*UQHLQ15:YRQELV
8PZHOWPLQLVWHULQZDU)UDX+|KQ
:HOFKH5HOLNWHLQGLHVHU=HLWJHVFKDIIHQZXUGHQPLW=XVWLPPXQJRGHU'XOGXQJGHU
*UQHQEHLVSZ+DPEDFKHU)RUVWZUGH6HLWHQIOOHQ
%HLGH3HUVRQHQKDEHQVLFKXP.OLPDSUREOHPHQLFKWVRQGHUOLFKJHNPPHUWJHVFKHKHQLVW
QLFKWV³

1DFKGHQ)DNWHQPVVHQ%QGQLV'LH*UQHQXQG63'DOVGDPDOLJH
9HUDQWZRUWOLFKH GHU GHXWVFKHQ gIIHQWOLFKNHLW IROJHQGH )UDJHQ
EHDQWZRUWHQ
.DQQWHQ6LH GHQ =XNXQIWVIRUVFKHU 5LINLQ XQG VHLQH 3XEOLNDWLRQHQ"
:DUXP ZXUGH YRQVHLWHQ GHU 3ROLWLN QLFKWV DEHU DXFK JDU QLFKWV LP
+LQEOLFN DXI GLH EHUHLWV GDPDOV EHVWHKHQGHQ WHFKQLVFKHQ 0|JOLFKNHLWHQ
HLQHU :DVVHUVWRIIZLUWVFKDIW%UHQQVWRII]HOOHQWHFKQLN HLQJHOHLWHW":DUXP
KDEHQ6LHNHLQH0DQDKPHQJHJHQGHQ.OLPDZDQGHOHUJULIIHQ"
=XU$QPHUNXQJWHFKQLVFKH0|JOLFKNHLWHQJDEHVEHL'DLPOHU%0:PLWGHP
+\GURJHQDXIGHU(;329:LQGHU=HLWYRQ+HUU3URI
8QZHUWK:HLWHUH$NWLYLWlWHQEHVWDQGHQPLW6LFKHUKHLW
(V LVW HLQ 6NDQGDO GDVV %QGQLV   'LH *UQHQ JDQ] ZHVHQWOLFK
$EKRO]XQJHQ+DPEDFK*DU]ZHLOHU]XU8PZHOWVFKlGLJXQJYHUSHVWXQJLQ
'HXWVFKODQGXQG(XURSDEHLJHWUDJHQKDEHQXQGVLFKKHXWHKLQVWHOOHQXQG
DQGHUH3DUWHLHQGLVTXDOLIL]LHUHQZROOHQ

HLNHNOLPDHQHUJLHHX
'HU(QHUJLHZHQGH7URMDQHULP+DXV
Ä6PDUW0HWHU VLQG 'UDKWDIIHQ GLH GHP 1HW]EHWUHLEHU RQOLQH .XQGHQGDWHQ
EHUPLWWHOQ XQG DXFK (LQJULIIH GHV 1HW]EHWUHLEHUV LQ GDV 6WURPQHW] EHLP
.XQGHQHUP|JOLFKHQVROOHQ(QHUJLHVR]LDOLVPXVOlVVWJUHQ±ZHQQHVQLFKW
PHKU JHQXJ 6WURP IU DOOH JLEW GDQQ VROOHQ ZHQLJVWHQV DOOH JOHLFK ZHQLJ
KDEHQ³ 'LH JURHQ 1HW]EHWUHLEHU 'HXWVFKODQG 7VFKHFKLHQ gVWHUUHLFK XQG
6FKZHL] KDEHQ VLFK EHUHLWV DXI 0|JOLFKNHLWHQ GHU 1HW]HLQJULIIH DE 
HLQJHVWHOOW
WRQOLQHGH
.HLQ,QWHUHVVHDQ($XWRV,QHLQHUH[FOXVLYHQ<RX*RY8PIUDJHLP$XIWUDJ
GHV$XWRNDXI3RUWDOVPRELOHGHHUJLEWVLFKIROJHQGHV
)UHLQH0HKUKHLWGHU'HXWVFKHQNRPPWHLQ6WURPHUQLFKWLQ)UDJH$XFKGLH
.DXISUlPLHLPPHUKLQELV]X(XURNRPPWEHLGHQ$XWRIDKUHUQJDUQLFKW
DQ'LH 0HKUKHLW GHU 'HXWVFKHQ  3UR]HQW ZLOO JHQHUHOO NHLQ ($XWR
NDXIHQ
0..UHLV]HLWXQJGH
'HU.OLPDIRUVFKHU+YRQ6WRUFKKDWLQ%UHPHQHLQHQ9RUWUDJJHKDOWHQXQG
ZDUQWYRU+\VWHULHXQGNULWLVLHUWGLH)I)%HZHJXQJDXIJUXQGYRQ+DOEZLVVHQ
XQG8QZDKUKHLWHQ
,KUH.ROOHJLQ)UDX%DHUERFNKDWWHMDLQHLQHP*HVSUlFKPLW+HUUQ'U6FKPLW]
9RUVWDQGVYRUVLW]HQGHU5:(QDFKOHVEDULQ)2&86JHlXHUWGDVV
LQÄXQVHUHPGHPRNUDWLVFKHQ5HFKWVVWDDWYHUVFKLHGHQH)RUPHQGHV]LYLOHQ
8QJHKRUVDPV7HLOXQVHUHUGHPRNUDWLVFKHQ.XOWXUVLQG³*HPHLQWZDUHQGLH
GDPDOLJHQ )I) $NWLYLWlWHQ  XQG RIIHQVLFKWOLFK OHJLWLPLHUHQ 6LH DXFK GLH
PLWWOHUZHLOH DXVJHXIHUWHQ ([]HVVH GLHVHU XQG DQGHUHU *UXSSLHUXQJHQ±,Q
(ULQQHUXQJP|FKWHLFKPHLQ6FKHLEHQYRPDQ)UDX%DHUERFN
EULQJHQ
%QGQLV'LH*UQHQVROOWHQVLFKEHUOHJHQPLWZHPXQGDXIZDVVLHVLFK
HLQODVVHQ EHYRU 6LH UHFKWHQ RGHU OLQNHQ RGHU VRQVWLJHQ 3HUVRQHQ 5DWVFKOlJH
HUWHLOHQ
ZZZDEHQGEODWWGH������������
Ä'LHQVWZDJHQ:DUXPVHOEVWGHU2EHU*UQH+DEHFNVFKHLWHUWH
'LH3ROLWLNHU)ORWWHDXI(OHNWURDXWRVXP]XUVWHQGDVIlOOWVFKZHUHUDOVJHGDFKW
5REHUW+DEHFNIlKUWHLQHQJURHQ%0:³

,P 1RYHPEHU  ZDUHQ 6LH EHL $8', LQ ,QJROVWDGW XQG ZXUGHQ YRP
9RUVWDQG7HFKQLVFKH(QWZLFNOXQJGHU$8',$*EHJUW
:LH GHU %UJHU MHW]W GXUFKQWYGH MNLGSD   HUIDKUHQ KDEHQ
Ä$8',$1(5 DOV 5HDNWLRQ DXI GHQ 'LHVHOVNDQGDO +XQGHUWWDXVHQGH 'DWHLHQ
JHO|VFKW'LHEHWURIIHQHQ$XGL,QJHQLHXUHKlWWHQWHLOZHLVHSURIHVVLRQHOOH/|VFK
6RIWZDUHJHQXW]WXP]XYHUKLQGHUQGDVVGLH'DWHQZLHGHUKHUJHVWHOOWZHUGHQ
N|QQHQ±6WDDWVDQZDOWVFKDIWOLFKH(UPLWWOXQJHQODXIHQ³

'DVV LVW MD VFKRQ GHU UHLQVWH :LUWVFKDIWVNULPL PDQ QHQQW VR HWZDV ZRKO
%HZHLVPLWWHOXQWHUGUFNXQJ(UVWDXQOLFK+HUU+DEHFNGDVV6LHGLHVEHL,KUHP
%HVXFKJDUQLFKWDQJHVSURFKHQKDEHQ±,Q$PHULND6FKXOGDQ]XHUNHQQHQXQG
0LOOLDUGHQ]XEH]DKOHQLQ'HXWVFKODQGDOOHVDEVWUHLWHQXQGMHW]WYHUKDQGHOQXQG
+XQGHUWWDXVHQGH'DWHLHQO|VFKHQ(LQ6FKHOPGHUE|VHVGDEHLGHQNW±:HU
NDXIWGHQQGLHVHP.RQ]HUQQRFK$XWRVDEPLWGHP:LVVHQLVWGHQQGDVZRKO
DOOHVUHFKWHQV"

$QZDOWGH
6LFKHUOLFKLVW,KQHQ+HUU+DEHFNHLQHQHXHUOLFKH(QWVFKHLGXQJGHV/*'XLVEXUJ
EHNDQQWLQGHU9:IUHLQHÄ$EVFKDOWHLQULFKWXQJEHLP*ROI7',(XURPLW
0RWRU($³YHUXUWHLOWZXUGH
7HQRUGHU(QWVFKHLGXQJYRUVlW]OLFKXQGVLWWHQZLGULJ
:LHLPPHUKDW9:%HUXIXQJHLQJHOHJW
1DFK 9: $QVLFKW ÄH[LVWLHUHQ NHLQH (PLVVLRQVJUHQ]ZHUWH IU GHQ UHDOHQ
6WUDHQEHWULHE³-HGHU.lXIHUHLQHVQHXHQ$XWRVDXVGHP9:.RQ]HUQ
VROOWHVLFKNQIWLJHLGHVVWDWWOLFKYHUVLFKHUQODVVHQGDVVGDV)DKU]HXJDOOHQ
JHVHW]OLFKHQ%HVWLPPXQJHQHUIOOW
'HUYRUJHQDQQWH0RWRUZXUGHYRQ9:LQYHUVFKLHGHQH$XWRPRGHOOH$XGL
9:6HDW6NRGDHLQJHEDXW
'LHVHÄ,QWHUSUHWDWLRQHQ³YRQ9:ZHUGHQDEHUQXQDXFKHQGOLFKGXUFKGHQ%*+
XQG(X*+UHFKWOLFKEHZHUWHW
+DQGHOVEODWWFRP
9: XQG 'DLPOHU VFKHLWHUQ ZRKO PLW GHP 9HUVXFK GHQ 'LHVHOVNDQGDO YRP
(X*+ IHUQ]XKDOWHQ± )UDQNUHLFK PDFKW LKQHQ QXQ HLQHQ 6WULFK GXUFK GLH
5HFKQXQJ
)$=
'LH =HLW OlXIW DE VRIRUW JHJHQ 9RONVZDJHQ  'DV 2/* +DPEXUJ UJW
9RONVZDJHQLQHLQHP+LQZHLVEHVFKOXVVYRP-DQ
+DQGHOVEODWW
Ä([9RUVWlQGLQ YRQ 9: VWHOOW VLFK JHJHQ GHQ .RQ]HUQ 'LH IUKHUH 63'
3ROLWLNHULQXQG%XQGHVYHUIDVVXQJVULFKWHULQZDUDOVREHUVWH9HUDQWZRUWOLFKHIU
5HFKWXQG,QWHJULWlWLQGHQ9RUVWDQGEHUXIHQZRUGHQ,P-DQQXUJXWHLQ
-DKUQDFKLKUHP$QWULWWWUDW)UDX+RKPDQQ'HQQKDUGWZLHGHUDE
9RONVZDJHQJDELKU]Z|OI0LOOLRQHQ(XUR$EILQGXQJPLWDXIGHQ:HJSOXV
HLQHUPRQDWOLFKHQ6RIRUWUHQWHYRQELV]X(XUR³
/72
2/* 'VVHOGRUI YHUXUWHLOW 3RUVFKH ZHJHQ YRUVlW]OLFKHU VLWWHQZLGULJHU
6FKlGLJXQJ]XU=DKOXQJYRQ6FKDGHQVHUVDW]8UWHLOYRP$=,
8

:'58KU
,Q GHQ DNWXHOOHQ 1DFKULFKWHQ ]X 7KULQJHQ ZXUGH EHULFKWHW GDVV GLH
ÄGHPRNUDWLVFKHQ3DUWHLHQ³9RUJDEHQPDFKHQYRQZHOFKHU3DUWHLPLWZLHYLHO
6WLPPHQ+HUU5DPHORZ3DUWHL'LH/LQNH]XP0LQLVWHUSUlVLGHQWHQ]XZlKOHQ
LVW
:LOOPDQGHQ3DUODPHQWDULHUQGHU$I'YHUELHWHQGDVVVLHZlKOHQGUIHQ"
:DVLVWGHQGDVIUHLQÄ6FKPLHUHQWKHDWHU³GLHQHXH)RUPGHU'HPRNUDWLHOlVVW
JUHQ

+HUU+DEHFN%QGQLV'LH*UQHQUKPHQVLFKGDVVVLHYRQDOOHPXQGMHGHU
6DFKH $KQXQJ KDEHQ 6LH VFKDIIHQ HV QRFK QLFKW HLQPDO LQ GHQ YRQ LKQHQ
PLWUHJLHUWHQ %XQGHVOlQGHUQ YHUQQIWLJH 0RELOLWlWV=XNXQIWVNRQ]HSWH
YRU]XOHJHQ JHVFKZHLJH GHQQ VROFKH LQ ZLUWVFKDIWOLFK UHDOLVWLVFKHU =HLW
XP]XVHW]HQ

%QGQLV'LH*UQHQZDUHQLQLKUHU5HJLHUXQJV]HLW±QLFKW
LQGHU/DJH]XU/|VXQJWHFKQLVFKDQVWHKHQGHU=XNXQIWVYLVLRQHQREZRKO
EHNDQQW EHL]XWUDJHQ XQG YHUVSHUUHQ QXQ KHXWHGLH ÄGULWWH LQGXVWULHOOH
5HYROXWLRQ³:DVVHUVWRIIZLUWVFKDIW GXUFK HLQVHLWLJH 0RELOLWlWV
IHVWOHJXQJHQ
6LHVLQGZHGHUIUGLH0HQVFKHQQRFKIUGLH:LUWVFKDIWJXWH5DWJHEHU

0LWIUHXQGOLFKHQ*UHQYRP1LHGHUUKHLQ

2ULJLQDOYHUVDQGW*H]:%3

$QODJH.RSLHPHLQHV6FKUHLEHQVYRP-DQ
DQGLH9RONVZDJHQ$*±+HUUQ'U'LHVV