Registration Document

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Corporate Governance
Chairman’s Report on the Operating Procedures of the Board of Directors
and on Internal Control and Risk Management Procedures
These policies also set forth principles for maintaining
accounting records, and stress the importance of the
information provided by reporting entities, including
financial projections. Each manager is accountable
to ensure that such information is accurate, and that
financial reporting and publication deadlines are
met; he/she must also make sure that his/her teams
are fully aware of these imperatives and that controls
are in place to ensure that these objectives are met.
Group financial policies require all decisions
involving external financing to be made by the Group
Chief Financial Officer, Chief Executive Officer or the
Board of Directors, depending on the amount and
type of the transaction.
Consequently:
• substantially all borrowings must be at fixed
rates of interest, or converted to fixed-rate using
hedging instruments;
• currency risks on borrowings and foreigncurrency
loans to subsidiaries must be hedged.
The Group Finance Department prepares a 10-year
funding plan for the Group in November of each year.
Group financial policies are designed to prevent
any speculative positions being taken and to avoid
risk in connection with financing, cash management
activities, and the choice of financial counterparties.
3.2.4 Sustainable development policy
Since its creation in 1966, Sodexo’s vocation has
been to “Improve the Quality of Life”. In 2003,
the Group formalized a strategy and a sustainable
development policy. This strategy has three main
priorities:
• improve nutrition for the health and wellness of
consumers: Sodexo is committed to food safety
and the promotion of a balanced diet for its
consumers. Sodexo plays a critical role in the fight
against obesity and malnutrition and provides
solutions that make health and wellness a priority.
Sodexo employs 3,400 dieticians worldwide;
• support social, economic, and environmental
development in local communities: participation
in the development of local communities by
Sodexo Registration Document Fiscal 2011
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hiring local staff as a priority, supporting the
development of small businesses in the services
rendered by Sodexo and increasing procurement
of fair-trade products;
• protect the environment (reduce energy and water
consumption and reduce food waste): purchase
environmentally sound products, reduce water
consumption, reduce of energy use and CO 2
emissions and battle against waste and waste
materials.
For each of these priorities, Sodexo has made longterm
commitments:
• nutrition, health and wellness: ensure the
promotion of solutions for health and wellness
and varied and balanced food choices on all
sites by the end of 2012, promote the reduction
of sugar, salt and fat consumption on all sites
between now and the end of 2015;
• development of local communities: promote the
development of local communities in all of the
countries where the Group is present from now
until the end of 2015 and combat against hunger
and malnutrition through the STOP Hunger
Initiative in all of the countries where the Group
is present from now until the end of 2020 and
promote fair-trade products.
This initiative was launched in the United States
in 1996 and brings together 42 countries and
more than 400 actions which mobilize Group
employees, consumers, clients, suppliers and their
staff. In 2010, STOP Hunger actions were carried
out in partnership with 270 associations and local
NGOs (Non Governmental Organizations). Three
examples of initiatives can be mentioned: the
Servathon, an annual worldwide program having
affected 30 countries in 2011, the partnership
with the Restaurants du Coeur in France since
2004, and a vegetable farming program in Brazil
since 2003 with the State University of São Paulo;
• protect the environment: promote responsible
procurement, reduce water consumption, energy
usage and CO 2 emissions in all sites by the end
of 2020 and reduce and recycle organic waste in
all countries between now and the end of 2015.