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E nvironmental Stewardship OPTIMIZING RECYCLING AND REUSE THROUGH ECODESIGN PRINCIPLES Ecodesign is a process that builds environmental concerns into projects from the design phase. Embraced by PSA Peugeot Citroën engineers, it has led to the use of new materials, in particular thermoplastics such as polyethylene, polyurethane, polypropylene and polyamide that are easy to recover and recycle. Today, materials used to make cars have to meet increasingly stringent criteria. The latest developments include: - Using a single family of plastics per major function, so that an entire sub-assembly can be recycled without prior disassembly. - Reducing the variety of plastics in a car, to optimize the related recovery processes and ensure their profitability. - Marking plastic parts with standardized codes, to ensure identification, sorting and traceability. - Using recycled materials. DESIGNING FOR DISASSEMBLY AND REUSE PSA Peugeot Citroën’s environmental stewardship commitment covers the entire product life cycle, from design to disassembly. A European Union directive stipulates that as of January 1, 2006, at least 85% of a scrap vehicle’s average weight must be capable of recovery and reuse, with the rate rising to at least 95% by January 1, 2015. Peugeot and Citroën vehicles will comply with the 95% recyclable rate from 2005. In response to the July 1, 2003 ban on the use of mercury, cadmium, lead and hexavalent chromium in new vehicles, the Group in 2002 deployed a wide-ranging initiative that required its 800 suppliers to provide compliance certificates for all their deliveries or for each part supplied for forthcoming vehicles. The response rate by year-end demonstrated an assertive commitment to compliance in this area. In addition, substitutes for parts and materials containing heavy metals were developed by the Group’s engineering teams to ensure that Peugeot and Citroën models are free from any heavy-metal content. PRODUCTION PLANTS AND THE ENVIRONMENT GLOBAL PRINCIPLES Safeguarding the environment at manufacturing plants and protecting the quality of life in neighboring communities have long been critical priorities for PSA Peugeot Citroën. Guided by the principles of continuous improvement, risk prevention and regulatory compliance, this commitment is deployed at all Group facilities worldwide. The corporate risk prevention and management department includes an environmental section with its own capital plan. In addition, on each Automobile Division site, an environmental manager is backed by a dedicated organization and correspondents appointed in each workshop and facility. In 2002, around 500 people were involved in managing the Group’s industrial environment. CURBING GREENHOUSE GAS EMISSIONS • Reducing VOC emissions In France, automobile plants account for 76 PSA PEUGEOT CITROËN - MANAGING BOARD REPORT
Growth Strategy Corporate Governance Business Review Corporate Policies Management’s Discussion and Analysis Statistics roughly 0.5% of total volatile organic compound (VOC) emissions produced by human activity, with Group facilities accounting for half this total. To reduce these emissions, the Group is leading a proactive, three-pronged policy: - Optimizing paint shops, by reducing the use of conventional paints and related solvents, introducing low-solvent paints and recycling used solvents. - Deploying clean technologies like waterbased paints and powder primers in new facilities. - Installing air treatment equipment to incinerate VOCs. NEW TECHNOLOGIES CUT PAINT SHOP VOC EMISSIONS IN POISSY, MULHOUSE AND PORTO REAL In 1997, to reduce VOC emissions from its paint shop, the Poissy plant implemented the ambitious RAPPY program, comprising water-based primer and enamel lines and incinerators for VOCs released in the drying ovens. The resulting process, which is already compliant with the most stringent environmental standards, has helped cut VOC emissions by two-thirds, from 3,500 metric tons in 1988 to 1,180 tons in 2002, even though production increased by around 30% over the same period. Improved versions of these technologies are being installed at the Mulhouse plant, where VOC emissions are currently estimated at around 6.5 kilograms per vehicle. Now under construction, the new shop is expected to halve this figure, to 3.3 kilograms per vehicle. The total cost will be €230 million, of which €45 million dedicated to environmental safeguards. The Porto Real plant in Brazil, inaugurated in January 2001, is also equipped with a paint shop compliant with the latest environmental standards. These measures have helped reduce VOC emissions from the French paint shops to an average 5.4 kilograms per vehicle in 2002, from a range of 10 to 13 kilograms per vehicle, depending on the site, in 1988. Worldwide, VOC emissions totalled 5.7 kilograms per vehicle in 2002. Continued systematic implementation of the best, most cost-effective solutions will enable the Group to meet the limits set for 2007 in the European Union directive on reducing VOC emissions. • A steady decline in other regulated emissions By substituting natural gas—or low or very low-sulfur fuel oil—for conventional fuel oil, sulfur dioxide (SO 2 ) emissions from the Group’s power plants have been reduced by 65% over the past ten years. At the Vigo plant, SO 2 emissions dropped from 13,500 metric tons a year to zero when natural gas replaced fuel oil as the main source of energy. Nitrogen oxide (NO x ) emissions have been curbed by installing high-tech burners in new facilities. Volumes have declined by around 20% in Europe since 1995, according to data from the Industrial Environment Observatory set up by the Group to track the environmental performance of its facilities. LOWERING ENERGY CONSUMPTION All automotive processes are energy intensive, whether foundry work, the cooling of machine tools, paint drying or heat treatment processes. The Group is committed to developing action plans to reduce energy consumption at all its automobile plants. Among the most remarkable initiatives undertaken in recent years has been the installation of waste- PSA PEUGEOT CITROËN - MANAGING BOARD REPORT 77
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2002 ANNUAL REPORT
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K ey figures Worldwide sales Automo
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Contents 2 A Tribute to Pierre Peug
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A Tribute to Pierre Peugeot Our Gro
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M essage from the Chairmen is alrea
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plan defined by the Managing Board.
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10 Growth Strategy 16 Corporate Gov
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Growth Strategy 12 • One Group, t
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Growth Strategy Corporate Governanc
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Corporate Governance 18 21 22 • T
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Appendices to the Managing Board Re
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C onsolidated statements of income
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C onsolidated balance sheets - Liab
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C onsolidated statements of stockho
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➔ Note 1 - Accounting policies Th
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No reserve is booked for taxes paya
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2. Effect on stockholders’ equity
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Allibert’s non- automotive busine
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2000 (in millions of euros) Automot
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➔ Note 5 - Key financial data for
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➔ Note 12 - Operating expenses -
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➔ Note 15 - Intangible assets Int
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Unrealized gains on restricted stoc
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➔ Note 21 - Inventories Inventori
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➔ Note 25 - Short-term income tax
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g) Capital in excess of par value o
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➔ Note 34 - Other long-term borro
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2. Short-term portion (in millions
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➔ Note 42 - Net financial positio
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1. Automobile division An early-ter
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- Changes during the year (in milli
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The entire debt is converted to flo
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2. Maturities of hedging instrument
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➔ Note 50 - Commitments and conti
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2. Effect of debenture conversions
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F ive-year consolited statement of
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F ive-year consolidated balance she
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C onsolidated companies as at Decem
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Company Percent Percent F/E control
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Recruitments (1) 2 4 Disabled emplo
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7 Paid leave other than vacations E
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Consumption Peugeot 607 Fuel Displa
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E nvironmental Indicators Productio
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Waste production PEUGEOT CITROËN A
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M anagement and Administration Main
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I nformation about the company’s
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S tatutory Auditors’ Report on th
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➔ Stockholders’ Meetings (Artic
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PEUGEOT S.A. 100% AUTOMOBILES CITRO
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S tockholder Information (Euronext
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F inancial authorizations in effect
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216 PSA PEUGEOT CITROËN - INFORMAT
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R esolutions Eighth resolution Auth
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T he Vice Presidents Committee Thie
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12,000 copies of this report were p
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