Statement of continued support
“By signing up to the UN Global Compact in October 2012,
Sequana, Antalis and Arjowiggins agree to support and promote
these principles in 2013.”
Pascal Lebard
Regristration Document (Document of Reference-2012)
Membership of CSR-related organisations
■■ United Nations Global Compact
Sequana signed up to the United Nations Global Compact in
September 2012, underscoring its own commitment, along with
that of Arjowiggins and Antalis, to the ten fundamental principles
in the areas of human rights, labour, the environment and
anti-corruption.
The ten principles set out in the UN Global Compact require
businesses to:
Every year, Sequana will publish a “Communication On Progress”
for each of these ten principles (see inset above).
A concordance table is provided at the end of this chapter
(pages 213-214) linking each Group CSR initiative to Global
Compact principles. The quantitative information provided for
each of the different principles is systematically benchmarked
against the information for the previous year to identify the progress
made.

Human rights
Principles of legality, ethics and transparency
Sequana employs a small number of staff in developing countries.
In accordance with the Group’s code of conduct – which is based
on respect for individuals – Sequana complies with International
Labour Organisation (ILO) standards in all of the countries
where the Group operates, particularly relating to child labour,
occupational health and safety, employee representation and fundamental
principles and rights at work. These principles apply
both to Sequana’s relations with its own employees and to subcontracting
agreements.
Typically, it is the production business which has more recourse
to subcontracting than distribution, for site security in plants and
maintenance.
Document de référence 2012

Working conditions
Compensation policy and social protection
The Group’s employees – in production or distribution or at the
registered office – are paid a fixed salary which, for most managerial-
level staff, comes on top of a variable salary generally based on
the performance of the Group and/or the businesses to which the
employee belongs, as well as on whether individual performance
targets have been met. The variable compensation policy applicable
to key executives has been harmonised across the Group. A
portion of the variable compensation payable to these executives
is now based on the objectives set for the Group, thereby encouraging
executives to work actively towards these goals.
The Group’s employees are also eligible for statutory healthcare,
welfare and disability benefits. Certain senior executives or highperforming
managers may be awarded fringe benefits on top of
their salary depending on their position within the Group. They
may also be granted long-term rights on Sequana shares, such as
those described below.
In 2012, the statutory round of collective bargaining took place as
planned at the beginning of the year. The negotiations often led
to a two-phase increase in salary: at the start and in the second
half of the year. As no dividends were paid in 2012, Sequana is
not liable for the profit-sharing bonus introduced in 2011.
Organisation of working time
In every country in which it operates, the Group and its subsidiaries
rigorously comply with the working time stipulated in
local laws and regulations and collective bargaining agreements,
regulations concerning the recovery of hours worked and annual
leave.
Succession plans for managers
As is the case each year, succession plans and organisational structures
were reviewed in 2012 by special committees. These reviews
help identify any potential risks and evaluate how the organisation
could be optimised. They also identify any development requirements
and skills gaps. To make it easier to conduct these reviews
and monitor the findings, the Group has invested in eXcellence,
a tool which manages succession plans as well as training requirements
and staff performance. This system will be gradually rolled
out across the Group, starting with Antalis in 2013.

6.3. - Breakdown by gender
Arjowiggins
2012✓
Arjowiggins
2011
Antalis
2012✓
Antalis
2011
Sequana/ SRS
2012✓
Sequana/ SRS
2011
Total
2012✓
Total
2011
% men 82.1% 80.0% 65.4% 69.2% 56.4% 52.5% 72.7% 74.2%
% women 17.9% 20.0% 34.6% 30.8% 43.6% 47.5% 27.3% 25.8%
6.4 - Breakdown by age group
Arjowiggins
2012✓
Arjowiggins
2011
Antalis
2012✓
Antalis
2011
Sequana/ SRS
2012✓
Sequana/ SRS
2011
Total
2012✓
Total
2011
Under 30 years old 12% 12% 15% 12% 16% 15% 14% 11%
30-40 years old 19% 19% 28% 26% 25% 28% 24% 22%
40-50 years old 35% 36% 32% 34% 31% 33% 33% 35%
50-60 years old 30% 29% 21% 23% 24% 23% 25% 26%
Over 60 years old 4% 4% 4% 5% 4% 1% 4% 5%

In 2012, Sequana strengthened its information compilation process
and formally designated a network of CSR correspondents.
These moves follow on from the earlier creation of a new Corporate
Social Responsibility (CSR) department. Each Arjowiggins division
and Antalis region now has a member of staff responsible
for coordinating local initiatives and for reporting consolidated
information to the Group. The CSR correspondent’s role is also to
step up cross-company exchanges in order to promote best practices.
However, training employees in environmental matters also
remains important to ensure that CSR concerns are duly integrated
into each area of the business. CSR training modules are to
be introduced in 2013 as part of the eXcellence project developed
by Antalis.
Overall environmental policy
Following the ISO 26000-based audits launched in 2011 and
finalised in January 2012, Sequana, Arjowiggins and Antalis have
identified three key environmental issues based on the traceability
of wood, energy consumption, and water management. The
nature of the Group’s activities directly impacts these three natural
resources and therefore requires entities to act responsibly.
Major initiatives undertaken in these areas include optimising the
volume of materials used at source (virgin fibres, energy, water),
choosing responsibly-sourced supplies (recycled fibres, renewable
energy, closed-loop water treatment), and ensuring that any effluent
or waste resulting from these materials is managed appropriately
(recycling, air and water emissions).

Pollution prevention
Implementing all of the measures necessary to prevent, anticipate
and manage all pollution risks related to the Group’s activities is at
the top of Sequana’s environmental priorities. The main pollution
risks concern recycling and waste disposal, odour and noise pollution,
and especially air and water emissions.
Water is the subject of a dual challenge for the production business:
reducing water consumption and managing the quality of
water discharge. Reducing the water needed for the paper manufacturing
process brings a three-fold benefit: mitigating the risk
associated with water restrictions imposed by local authorities
according to authorised procedures during droughts, protecting
an increasingly scarce resource, and lowering the Group’s energy
requirements in terms of heating the water it uses. A working
group involving all Arjowiggins divisions was set up to look at
these issues and identify the actions to be put in place in order to
reduce water requirements. The other key issue identified regarding
water and pollution control is the quality of water discharge.
The strict control of water discharge by means of the stringent
management of treatment centres is one of the main components
of its approach in managing water pollution risks. This issue is also
covered by the working group.
The quality of wastewater discharged by the group is subject to
strict quality tests on a daily basis (see table of indicators below),
performed in close cooperation with local government authorities.
In 2013, Sequana intends to consolidate data on this issue and
formally document its commitments to improving the quality of
water discharge above and beyond that required by applicable laws
and regulations.
This is also the case for emissions into the atmosphere. Government
authorities or independent bodies measure and monitor the Group’s
gas emissions, particularly all greenhouse gases. As part of WWF’s
Climate Savers programme, the emissions from Arjowiggins
Graphics’ seven plants are regularly analysed in depth and progress
verified in terms of emissions reduction.
Under the Climate Savers programme, Arjowiggins Graphic
has committed to a 23% reduction in its overall emissions and a
10% reduction in its CO2 emissions for each tonne of paper produced
(benchmark year: 2007 ).
Sustainable use of resources
The nature of the businesses and the products made and distributed
by Sequana mean that efforts to cut consumption of natural
resources are focused first and foremost on wood fibres. Now
that supply is a globalised, highly diversified process, the Group
must ensure that its system of traceability is water-tight in order to
guarantee complete transparency as to the origin of the fibres used.
The risks associated with raw materials from unsustainable sources
(i.e., direct or indirect products of deforestation) are small but real.
As part of its CSR strategy, Sequana has committed to sourcing all
of its supplies from sustainable (i.e., legal and traceable) sources by
2015. In 2012, the Group already reduced and eliminated certain
high-risk suppliers, particularly in south-east Asia.
At both Arjowiggins and Antalis, questionnaires were introduced
to assess suppliers’ CSR and supply chain practices. For
Antalis, these questionnaires were sent out to suppliers together
representing 95% of the company’s paper and cardboard purchases.
For Arjowiggins, the questionnaires were sent out to suppliers
together accounting for all central purchases.
Identifying high-risk sources of supply must however be accompanied
by better management of traceability and procurement
across the Group. A system for managing data on the origin of
products, their regulatory compliance and supplier transparency
is in process and should be introduced at Antalis in 2013.
Water supply in accordance with local requirements
Significant quantities of water are needed to make paper – mainly
for the drying process. Depending on the plants concerned and
types of papers manufactured, between 80% and 98% of the water
used is returned downstream to the source (river, groundwater or
public network). However, reducing the volume of water used is a
constant concern for the Group. In summer, local authorities may
restrict the volume of water drawn due to water stress. In close
cooperation with these authorities (French Regional Directorate
for Environment, Urban Planning and Housing – DREAL),
the plants must in such cases scale back their paper production.
Identifying where water consumption can be reduced in the manufacturing
process is therefore critical and will be one of the priorities
of the working group specifically set up to look at water
issues in the coming year.
Climate change mitigation and adaptation
Increasing its use of renewable sources of energy and improving
its own energy performance are the two lynchpins of the Group’s
energy policy. With its project to generate heat from biomass
(wood chips) at its Palalda plant in France in 2012, the Group
has shown clear proof of its determination to reduce its dependence
on fossil fuels and lighten its environmental footprint.
Arjowiggins Graphic has been chosen to pilot the energy efficiency
project and the main areas for improvement are currently
being assessed. These initiatives will subsequently be rolled out to
Arjowiggins’ other divisions.
Although production activities account for the bulk of energy
consumed by the Group, Antalis’ distribution centres across the
globe also have a part to play. To identify the energy requirements
of its distribution business along with any potential areas
for improvement, a centralised reporting system based on the
energy consumed by major warehouses was introduced in 2012. It
found that the Group’s distribution business accounts for 1.8% of
the total energy consumed by the Group.
Protection of biodiversity
The Group’s concern for protecting biodiversity is an integral part
of its policy and is underscored by two different projects that seek
to (i) improve the quality of water discharged from production
sites and (ii) ensure the traceability of its pulp and paper supplies.
The large majority of the Group’s paper production plants draw
the water they need in the manufacturing process (cooling, drying,
etc.) from nearby rivers and streams. The Group must take
into consideration the ecosystems existing in these rivers.
By strictly respecting regulatory effluent thresholds (suspended
solids, chemical oxygen demand, biochemical oxygen demand,
nitrogen, phosphorus, nitrogen oxide), the paper production
plants ensure that the quality of water discharged downstream
into rivers is at least equivalent to the quality of the water
upstream. This ensures that production activities have a minimal
impact on river fauna and flora and on the associated ecosystems.
Each plant measures water quality twice daily and these measurements
are regularly verified by the local authorities. To support
its ongoing efforts to reduce Sequana’s carbon footprint, a
working group will be set up in 2013 to consider the issue of
wastewater quality.
Selecting responsibly-sourced supplies can also contribute to protecting
biodiversity. By chiefly purchasing pulp (Arjowiggins)
and paper (Antalis) certified by the Forest Stewardship Council
(FSC) or the Pan European Forest Certification (PEFC) council,
the Group also reduces its impact on the natural environment.
FSC and PEFC certification provide tangible guarantees
along the entire value chain that forests were managed responsibly
at the outset. Responsible management respects environmental,
social and governance criteria. To obtain these accreditations,
entities must therefore respect biodiversity and ecosystems.

6.12 - Key environmental performance data
Indicator Unit
Graphic Coated Creative Papers Healthcare Security TOTAL
2011 2012 2011 2012 2011 2012 2011 2012 2011 2012 2011 2012✓
Water consumption
Water abstraction/Net production
m3/tonne
of paper
11.9 11.5 49.1 50.3 70.0 59.8 56.9 44.7 106.6 89.9 28.5 25.9✓
Liquid effluent
Water discharge/Net sellable production
m3/tonne
of paper
10.4 10.0 48.7 49.4 68.0 65.6 38.4 35.3 103.6 86.6 26.5 24.4
Suspended Solids (SS)
SS effluent/Net sellable production
Kg/tonne
of paper
1.10 1.05 0.59 0.68 1.40 1.29 0.11 0.12 0.74 0.40 1.00 0.96
Chemical Oxygen Demand (COD)
COD/Net sellable production
Kg/tonne
of paper
1.23 1.35 4.86 4.20 6.29 6.79 4.52 4.28 6.68 5.60 2.71 2.56
5-day Biochemical Oxygen Demand
(BOD 5)
BOD 5/Net sellable production
Kg/tonne
of paper
0.09 0.10 0.24 0.28 0.94 1.06 1.06 1.00 2.26 2.69 0.32 0.34
Nitrogen
(N: Nitrogen)
N/Net sellable production
Kg/tonne
of paper
0.07 0.07 – 0.10 0.16 0.05 – – 0.18 0.30 0.09 0.08
Phosphorus
(P: Phosphorus)
P/Net sellable production
Kg/tonne
of paper
0.004 0.003 – 0.022 0.05 0.060 – – 0.06 0.08 0.01 0.011
Nitrogen oxide
(NOx: Nitrogen oxide)
NOx/Net sellable production
Kg/tonne
of paper
0.04 0.03 – – 1.45 4.95 – – 0.36 0.34 0.46 0.50
Sulphur oxide (SOx: Sulphur oxide)
SOx/Net sellable production
Kg/tonne
of paper
0.001 0.001 2.10 2.1
CO2
CO2 emissions/Net sellable production
Kg/tonne
of paper
151 168 1,914 1,208 1,177 1,303 551 543 559 694 529 442✓
Gas consumption (Energy)
Gas consumption/Net sellable
production PCI
KWh/
tonne
of paper
685 768 1,232 1,777 6,751 5,666 2,496 2,458 2,388 2,090 1,294 1,386
Steam purchased externally (Energy)
Steam purchased/
Net sellable production
KWh/
tonne
of paper
1,021 920 59 21 2,145 2,043 – 2,458 – – 788 703
Electricity consumption (Energy)
Electricity consumption/
Net sellable production
KWh/
tonne
of paper
688 682 1,659 1,559 1,538 1,555 1,104 1,032 2,783 2,974 1,025 994
Energy consumption
Energy consumption/
Net sellable production
KWh/
tonne
of paper
2,142 2,082 6,702 6,019 7,231 7,352 3,514 3,420 5,453 6,108 3,456 3,299✓
Energy consumption
Fossil fuel consumption/
Net sellable production
KWh/
tonne
of paper
1,340 1,349 3,476 3,053 3,866 5,230 2,498 2,463 2,670 2,551 2,120 2,035
Biomass consumption (Energy)
Biomass consumption/
Net sellable production PCI
KWh/
tonne
of paper
3,005 3,399 1,568 1,407 – – – – – – 2,132 2,143
Biomass consumption/
Net sellable production GJ
GJ/tonne
of paper
11 12 6 5 – – – – – – 8 8
District heating MWh 225,663 281,208 – – – – – – – – 225,663 281,208
Fuel oil consumption (Energy)
Fuel oil consumption/
Net sellable production
KWh/
tonne
of paper
9 7 – – 586 409 2 6 652 2,129 193 203
Coal consumption (Energy)
Coal consumption/
Net sellable production
KWh/
tonne
of paper
– – 2,184 1,256 – – – – – – 2,184 1,256
NB: these data, which are given per tonne of sellable paper, correspond to average values for the whole Group. They are in line with those disclosed by other high-performing
paper manufacturing groups that produce comparable paper ranges. Significant differences may exist between different plants due to the type of products manufactured.

Fair operating practices
Ethics and good business practices are an integral part of Sequana’s
core values. However, the Group reaffirms and improves procedures
each year to ensure that it acts in compliance with the laws
in force in the countries in which it operates and that the values it
upholds are respected.
Sequana is responsible for ensuring that rules of business conduct
– particularly regarding corruption and unfair competition – are
respected, implemented and monitored in more than 45 countries
around the globe in which it is present via its different entities.
Sequana also makes sure that relations between its different entities
and public bodies, other companies, suppliers, subcontractors,
customers and competitors are managed in a fair and responsible
manner, to prevent the possibility of corruption or illegal practice.
To minimise the risks associated with unfair practices, Sequana
has developed a training programme based on the Group’s code of
good conduct, which was recast in 2012. This new code of good
conduct was rolled out to all employees at the start of 2013. A
training programme has also been specifically designed for Group
employees whose job requires regular contact with people outside
Sequana. The training and risk prevention initiatives launched in
2012 on the basis of management-level meetings were accompanied
by random controls in certain entities across the globe, due to
be repeated in 2013.