Share price (Paris):


 A shared impetus

The Management Board , through its collegial structure and in the nature of its missions (see page 11), is contributing to making the sustainable development policy an integral part of the decision-making process at the highest level.

The Management Board, in addition to its Chairman, is made up of senior officers in charge of the group's business units, as well as the Chief Financial Officer, and the Director of Human Resources for the Group.

The Management Board manages the Company collegially. It is in charge of managing the Company and conducting its activities. It intervenes in the following areas:

- financial results, liquidity, and debt;
- divestiture, merger, or acquisition operations not requiring prior authorization of the Supervisory Board;
- social and human resources policy;
- communications policy;
- activities of the compliance program;
- internal audit and internal control procedures;
- litigation;
- environmental affairs;
- insurance.

 A dedicated organization

The Sustainable Development department defines objectives, pilots the process, and coordinates its execution within the subsidiaries.

The Sustainable Development department is under the direct responsibility of the groupís Executive Vice-President of Communications and Public Affairs, who is a member of the groupís Senior Management.

The Sustainable Development department, in association with the General Counsel, ensures coordination and application of compliance procedures in accordance with environmental, health, and workplace safety standards adopted by Vivendi in 2000. It also contributes to relaying the implementation of the compliance program.

The Sustainable Development department is backed by a Sustainable Development Committee, set up in 2003. This Committee is composed of persons dedicated to questions related to sustainable development in the business units and representatives of several functional divisions of the head office (General Counselís office, Finance, Human Resources, Corporate Communications and Public Affairs).

The Committee meets six times a year.


 Reference indices

Vivendi is listed on several sustainable development stock indices:


Aspi Eurozone: is an index drawn up by Vigeo, a ratings agency, and is made up of 120 listed companies in the Euro zone who have good performance in terms of sustainable development criteria.

Ethibel Sustainability Index Excellence (ESI): is an index drawn up by the Ethibel Agency which includes 155 companies who meet criteria for sustainable companies.

FTSE4Good: is a international sustainable development stock market index drawn up by the FTSE (a company owned jointly by the Financial Times and the London Stock Exchange) that provides investors and managers of investment funds who are sensitive to issues of social responsibility with a reference in the area of Socially Responsible Investment (SRI); it is made up of more than 723 companies, 42 of them are French.


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