Implementação do Programa de Informação Costeira Œ on line.

24
,PSOHPHQWDomRGR³3URJUDPDGH,QIRUPDomR&RVWHLUD± RQOLQH´ (ORL0HOR) R -+*0$OYHV5&%DUOHWWD)9%UDQFR')UDQFR*5 +DPPHV)03LPHQWD'$50HQGHV(3ULGR&($6DOOHV$&6RXWR /DERUDWyULRGH+LGUiXOLFD0DUtWLPD 'HSDUWDPHQWRGH(QJHQKDULD6DQLWiULDH$PELHQWDO 8QLYHUVLGDGH)HGHUDOGH6DQWD&DWDULQD &DPSXV7ULQGDGH&[3R)ORULDQySROLV6& (TXLSHSDUWLFLSDQWHHPRUGHPDOIDEpWLFDDSDUWLUGRDXWRUVrQLRU 5HVXPR &RP D LPSODQWDomR GR 3URJUDPD GH ,QIRUPDomR &RVWHLUD ± RQ OLQH 3,& DV FRQGLo}HV GR PDU DR ODUJR GD LOKD GH 6DQWD &DWDULQD WHP VLGR FRQWLQXDPHQWH PRQLWRUDGD SRU PHLR GH XP RQGyJUDIR GLUHFLRQDO FRP LQIRUPDo}HV GLVSRQLELOL]DGDV DR S~EOLFR HP ³WHPSR UHDO´ YLD LQWHUQHW (VWH DUWLJR DSUHVHQWD XP KLVWyULFR GD LPSODQWDomR GR SURJUDPD LQFOXLQGR DV SULQFLSDLV GLILFXOGDGHV RSHUDFLRQDLV HQFRQWUDGDV 2 DUWLJR WDPEpP DSUHVHQWD DOJXQV UHVXOWDGRV SUHOLPLQDUHV UHODWLYRV D PHGLo}HV GH RQGDH WHPSHUDWXUDGDiJXD $ WHQGrQFLD GHGHULYDGRDSDUHOKRPRQLWRUDGDDWUDYpVGH*36SUySULRSDUHFHIRUQHFHUXPD LQIRUPDomR LQXVLWDGD DFHUFD GDV FRUUHQWHV VREUH D SODWDIRUPD FRQWLQHQWDO VXJHULQGRDSUHVHQoDGHXPIOX[RUHVLGXDOGH6XOSDUD1RUWH 3DODYUDV&KDYH 0RQLWRUDPHQWR &RVWHLURHP7HPSR 5HDO 2QGDV 6XSHUILFLDLV 2QGyJUDIR'LUHFLRQDO0HGLo}HVGH7HPSHUDWXUDGDÈJXD&RUUHQWHVGH'HULYD &RVWDGH6DQWD&DWDULQD

Transcript of Implementação do Programa de Informação Costeira Œ on line.

,PSOHPHQWDomR�GR�³3URJUDPD�GH�,QIRUPDomR�&RVWHLUD�± RQ�OLQH´(ORL�0HOR�)R��-�+�*�0��$OYHV��5�&��%DUOHWWD��)�9��%UDQFR��'��)UDQFR��*�5��+DPPHV��)�0��3LPHQWD��'�$�5��0HQGHV��(��3ULGR��&�(�$��6DOOHV��$�&��6RXWR�� �

/DERUDWyULR�GH�+LGUiXOLFD�0DUtWLPD'HSDUWDPHQWR�GH�(QJHQKDULD�6DQLWiULD�H�$PELHQWDO8QLYHUVLGDGH�)HGHUDO�GH�6DQWD�&DWDULQD&DPSXV�7ULQGDGH��&[��3R��������)ORULDQySROLV��6&�� ���������� ��(TXLSH�SDUWLFLSDQWH�HP�RUGHP�DOIDEpWLFD�D�SDUWLU�GR�DXWRU�VrQLRU�

5HVXPR&RP� D� LPSODQWDomR� GR� 3URJUDPD� GH� ,QIRUPDomR� &RVWHLUD� ± RQ� OLQH� �3,&�� DV�FRQGLo}HV� GR�PDU� DR� ODUJR� GD� LOKD� GH�6DQWD�&DWDULQD� WHP� VLGR� FRQWLQXDPHQWH�PRQLWRUDGD� SRU� PHLR� GH� XP� RQGyJUDIR� GLUHFLRQDO� FRP� LQIRUPDo}HV�GLVSRQLELOL]DGDV� DR� S~EOLFR� HP� ³WHPSR� UHDO´� YLD� LQWHUQHW�� (VWH� DUWLJR� DSUHVHQWDXP� KLVWyULFR� GD� LPSODQWDomR� GR� SURJUDPD� LQFOXLQGR� DV� SULQFLSDLV� GLILFXOGDGHV�RSHUDFLRQDLV� HQFRQWUDGDV�� 2� DUWLJR� WDPEpP� DSUHVHQWD� DOJXQV� UHVXOWDGRV�SUHOLPLQDUHV�UHODWLYRV�D�PHGLo}HV�GH�RQGD�H� WHPSHUDWXUD�GD�iJXD��$� WHQGrQFLD�GH�GHULYD�GR�DSDUHOKR��PRQLWRUDGD�DWUDYpV�GH�*36�SUySULR��SDUHFH�IRUQHFHU�XPD�LQIRUPDomR� LQXVLWDGD� DFHUFD� GDV� FRUUHQWHV� VREUH� D� SODWDIRUPD� FRQWLQHQWDO�VXJHULQGR�D�SUHVHQoD�GH�XP�IOX[R�UHVLGXDO�GH�6XO�SDUD�1RUWH�3DODYUDV�&KDYH� 0RQLWRUDPHQWR�&RVWHLUR�HP�7HPSR�5HDO��2QGDV�6XSHUILFLDLV��2QGyJUDIR�'LUHFLRQDO��0HGLo}HV�GH�7HPSHUDWXUD�GD�ÈJXD��&RUUHQWHV�GH�'HULYD��&RVWD�GH�6DQWD�&DWDULQD��

���,QWURGXomRe� LQTXHVWLRQiYHO� TXH� R� HVWDEHOHFLPHQWR� GD� UHGH� LQWHUQDFLRQDO� GH�FRPXQLFDomR� � ,QWHUQHW� � DEULX� GH� IRUPD� GUDPiWLFD� RV� KRUL]RQWHV� SDUD�GLVVHPLQDomR�GD� LQIRUPDomR�HP�WRGR�R�PXQGR��$�FRPELQDomR�GD�,QWHUQHW�FRP�R�GHVHQYROYLPHQWR� GH� LQVWUXPHQWRV� GH� PHGLomR� RFHDQRJUiILFD� FDGD� YH]� PDLV�VRILVWLFDGRV� H� FRP� FDSDFLGDGH� GH� WUDQVPLVVmR� UHPRWD� GH� GDGRV�� SHUPLWLX� D�UHDOL]DomR�GH�DOJR�TXH�DWp�UHFHQWHPHQWH�QmR�SDVVDYD�GH�XP�VRQKR��GLYXOJDU�HP�³WHPSR� UHDO´�PHGLo}HV� SUHFLVDV� GDV� FRQGLo}HV� GR�PDU��'H� IDWR�� Ki� DOJXQV� DQRV�TXH�SURJUDPDV�GH�PRQLWRUDPHQWR�³RQ�OLQH´�GR�HVWDGR�GR�PDU�WrP�VLGR� OHYDGRV�D�FDER� HP� SDtVHV� GR� ³SULPHLUR� PXQGR´� FRPR�� SRU� H[HPSOR�� R� &RDVWDO� 'DWD�,QIRUPDWLRQ�3URJUDP��KWWS���FGLS�XFVG�HGX ��GHVHQYROYLGR�SDUD�D�FRVWD�GD�&DOLIyUQLD�SHORV�FROHJDV�GR�6FULSSV�,QVWLWXWLRQ�RI�2FHDQRJUDSK\�&DPSDQKDV� GH� PHGLomR� GH� RQGD� QR� %UDVLO� WrP� VLGR� UHDOL]DGDV� GHVGH� D�GpFDGD� GH ���� &RPR� HUD� TXDVH� VHPSUH� R� FDVR�� WDLV� PHGLo}HV� REMHWLYDUDP�IRUQHFHU� VXEVtGLRV� SDUD� SURMHWRV� GH� HQJHQKDULD� HP� ORFDLV� HVSHFtILFRV� H�� YLD� GH�UHJUD�� RV� GDGRV� REWLGRV� WLQKDP� GLYXOJDomR� UHVWULWD� D� DJrQFLDV� JRYHUQDPHQWDLV�H�RX�DR�PHLR�DFDGrPLFR��(QWUHWDQWR��GHVGH�R� LQtFLR�GHVWH�DQR��R�%UDVLO� WDPEpP�SDVVRX�D�FRQWDU�FRP�XP�VHUYLoR�GH�PRQLWRUDPHQWR�GR�HVWDGR�GR�PDU�HP�WHPSR�UHDO��7UDWD�VH�GR�3URJUDPD�GH�,QIRUPDomR�&RVWHLUD�± RQ�OLQH��3,&��LPSOHPHQWDGR�SHOR�/DERUDWyULR�GH�+LGUiXOLFD�0DUtWLPD�GD�8)6&�SDUD�D�FRVWD�GH�6DQWD�&DWDULQD��2�SUHVHQWH�DUWLJR�DSUHVHQWD�XP�EUHYH�KLVWyULFR�VREUH�D�LPSODQWDomR�GR�3,&�LQFOXLQGR� DV� SULQFLSDLV� GLILFXOGDGHV� RSHUDFLRQDLV� HQFRQWUDGDV� H� XPD� GHVFULomR�VXFLQWD� GR� VLVWHPD� XWLOL]DGR�� 2� DUWLJR� WDPEpP� DSUHVHQWD� DOJXQV� UHVXOWDGRV�SUHOLPLQDUHV�FRP�R�LQWXLWR�GH�LOXVWUDU�D�XWLOLGDGH�H�R�SRWHQFLDO�FLHQWtILFR�GRV�GDGRV�FROHWDGRV�

����+LVWyULFR�GD�,PSODQWDomR�GR�3URJUDPD0XLWDV�GLILFXOGDGHV� WLYHUDP�GH�VHU�VXSHUDGDV�SDUD�TXH�R�3,&�VH� WRUQDVVH�UHDOLGDGH�� 2� DSDUHOKR� PHGLGRU� GH� RQGDV� �RQGyJUDIR�� KDYLD� VLGR� DGTXLULGR� SHOD�

3HWUREUiV�HP������GHQWUR�GR�FRQYrQLR�ILUPDGR�HQWUH�D�HPSUHVD�H�D�8)6&�SDUD�D�UHDOL]DomR� GH� PHGLo}HV� DPELHQWDLV� HP� 6mR� )UDQFLVFR� GR� 6XO�� 6&�� SRUpP�HQFRQWUDYD�VH�LQDWLYR�GHVGH�������$�SURSRVWD�RULJLQDO�GR�SURMHWR�IRL�VXEPHWLGD�DR�&13T�HP������QR�HGLWDO� GR�3ODQR�6XO� GH�3HVTXLVD�H�3yV�*UDGXDomR� �0HOR�)R���������HQWUHWDQWR��SRU�PRWLYRV�YiULRV��R�ILQDQFLDPHQWR�GR�SURMHWR�Vy�IRL�YLDELOL]DGR�HP�PHDGRV� GH� ����� FRP� D� SDUFHULD� GD� )XQGDomR� GH� &LrQFLD� H� 7HFQRORJLD� GH�6DQWD� &DWDULQD� �)XQFLWHF��� $VVLP� D� SDUWLFLSDomR� GR� &13T� GHX�VH� QD� IRUPD� GH�FRQFHVVmR� GH� EROVDV� GH� HVWXGR� ILFDQGR� RV� UHFXUVRV� ILQDQFHLURV� D� FDUJR� GD�)XQFLWHF�$� VHJXLU�� GRLV� LPSRUWDQWHV� REVWiFXORV� GH� RUGHP� ORJtVWLFD� WLYHUDP� GH� VHU�HTXDFLRQDGRV�� 2� SULPHLUR� GL]LD� UHVSHLWR� j� YLDELOL]DomR� GH� XPD� HPEDUFDomR�DGHTXDGD� SDUD� FRORFDomR� GR� LQVWUXPHQWR� QR�PDU� H� R� VHJXQGR� j�PRQWDJHP� GH�XPD�³EDVH�DYDQoDGD´�QD�FRVWD�RFHkQLFD�GD� LOKD�SDUD� UHFHSomR�H�UH�WUDQVPLVVmR�GRV�GDGRV���1RWD��FRPR�R�FDPSXV�GD�8)6&�VLWXD�VH�QD�UHJLmR�FHQWUDO�GD�LOKD��QmR�VHULD�SRVVtYHO�UHFHEHU�RV�GDGRV�GLUHWDPHQWH�QR�QRVVR�ODERUDWyULR�XPD�YH]�TXH�D�GLVWkQFLD�HQYROYLGD�H[FHGLD�HP�PXLWR�R�DOFDQFH�GH�WUDQVPLVVmR�GR�DSDUHOKR�2� SULPHLUR� REVWiFXOR� IRL� UHVROYLGR� JUDoDV� D� PDJQtILFD� FRODERUDomR� GR�&(368/��yUJmR�GR�,%$0$�VHGLDGR�HP�,WDMDt��6&� TXH�SURQWDPHQWH�GLVSRQLELOL]RX�R�QDYLR�6RORQF\�0RXUD��)LJ�����SDUD�R�IXQGHLR�GR�RQGyJUDIR�

)LJXUD�� ± 1DYLR�6RORQF\�0RXUD�GR�&(36XO�,%$0$��,WDMDt��6&�&RP�D�DSUHFLDGD�FRODERUDomR�GRV�FROHJDV�GR�&HQWUR�GH�&LrQFLDV�$JUiULDV�GD�8)6&��D�EDVH�DYDQoDGD�IRL PRQWDGD�QDV�LQVWDODo}HV�GR�/DERUDWyULR�GH�3HL[HV�GH�ÈJXD�'RFH�± /$3$'�� �)LJ����HVWUDWHJLFDPHQWH�VLWXDGR�D�SRXFDV�FHQWHQDV�GH�PHWURV�GD�3UDLD�GD�$UPDomR�QR�VXO�GD�,OKD�GH�6DQWD�&DWDULQD��$OpP�GD�ORFDOL]DomR�SULYLOHJLDGD��HVWH�ODERUDWyULR�FRQWD�FRP�D�YDQWDJHP�DGLFLRQDO�GH�WHU�DFHVVR�j�UHGH�LQWHUQHW� JDUDQWLQGR�� DVVLP�� D� UHWUDQVPLVVmR� GRV� GDGRV� GD� EDVH� UHFHSWRUD� DWp� R�/DERUDWyULR�GH�+LGUiXOLFD�0DUtWLPD��/$+,0$5��QD�8)6&�

)LJXUD� � ± ,QVWDODo}HV� GR� /DERUDWyULR� GH� 3HL[HV� GH� ÈJXD� 'RFH� QD� 3UDLD� GD�$UPDomR���(P SULPHLUR�SODQR�Yr�VH�D�DQWHQD�UHFHSWRUD�GR�RQGyJUDIR������'HVFULomR�GR�6LVWHPD�8WLOL]DGR

2� PRQLWRUDPHQWR� GR� HVWDGR� GR� PDU� p� IHLWR� DWUDYpV� GXP� RQGyJUDIR�GLUHFLRQDO� 'DWDZHOO� :DYHULGHU� 0DUN� ,,� �)LJXUD� ���� 2� DSDUHOKR� p� HTXLSDGR� FRP�VHQVRUHV�FDSD]HV�GH�PHGLU�DV�DFHOHUDo}HV���FRPSRQHQWHV�YHUWLFDO�H�KRUL]RQWDLV��GD�VXSHUItFLH�GR�PDU�TXH�SHUPLWHP��DSyV�HODERUDGR�SURFHVVDPHQWR��GHWHUPLQDU�DV�FDUDFWHUtVWLFDV�GR�FDPSR�GH�RQGDV�LQFOXLQGR�VXD�GLUHomR�2�RQGyJUDIR�IRL�LQVWDODGR�D����NP�DR�ODUJR�GD�,OKD�GH�6DQWD�&DWDULQD�QXPD�OkPLQD� G¶iJXD� GH� FHUFD� GH� ��� PHWURV� GH� SURIXQGLGDGH� FRQIRUPH� PRVWUDGR� QD�)LJXUD���

)LJXUD� � ± 'HWDOKH� GR� 2QGyJUDIR�:DYHULGHU�ORJR�DSyV�VXD�FRORFDomR� )LJXUD� � ± 0DSD� GH� ORFDOL]DomR� GR�RQGyJUDIR2� HVTXHPD� GH� IXQGHLR� XWLOL]DGR��PRQWDGR� GH� DFRUGR� FRP� HVSHFLILFDo}HV� GR�IDEULFDQWH��p�FRPSRVWR�SHODV�VHJXLQWHV�SDUWHV�SULQFLSDLV���)LJ������� 3RLWD��FRUUHQWH�GH�QDYLR�FRP�FHUFD�GH�����NJ�GH�SHVR� &RUUHQWH�GH�OLJDomR�����´�[�����P�� &DER�GH�SROLSURSLOHQR�PXOWLILODGR�����PP�[ ���P�� &DER�GH�DoR�JDOYDQL]DGR������PP�[ ���P�� ��FDERV�GH�ERUUDFKD�IRUQHFLGRV�SHOD�'DWDZHOO����FP�[ ���P�FDGD�� &RUUHQWH�GH�OLJDomR�FRP�D�EyLD��IRUQHFLGD�SHOR�IDEULFDQWH�$� OLJDomR� HQWUH� DV� SDUWHV� IRL� IHLWD� SRU� PHLR� GH� WHUPLQDLV� H� GLVWRUFHGRUHV�HVSHFLDOPHQWH�FRQIHFFLRQDGRV��

)LJXUD�� � 'HVHQKR�HVTXHPiWLFR� GR� IXQGHLR� �SDLQHO� HVTXHUGR�� H� SDUWHV� SURQWDV�SDUD�R�ODQoDPHQWR��SDLQHO�GLUHLWR�2�VLVWHPD�RSHUDFLRQDO�GR�3,&�IXQFLRQD�GD�VHJXLQWH�PDQHLUD��0HGLo}HV�FRP�GXUDomR�GH�FHUFD�GH����PLQXWRV�� REWLGDV�GH�KRUD�HP�KRUD�� VmR� WUDQVPLWLGDV� YLD�UiGLR�SHOR�RQGyJUDIR�GLUHWDPHQWH�SDUD�XPD�HVWDomR�UHFHSWRUD�PRQWDGD�QR�/$3$'�TXH�� SRU� VXD� YH]�� DV� UHWUDQVPLWH�� YLD� LQWHUQHW�� SDUD� R� /$+,0$5� QR� FDPSXV� GD�8)6&� �)LJ�����RQGH�RV�GDGRV�VmR�SURFHVVDGRV��DUPD]HQDGRV�H�GLVSRQLELOL]DGRV�JUDWXLWDPHQWH�DR�S~EOLFR�DWUDYpV�GR�VLWH�ZZZ�ODKLPDU�XIVF�

)LJXUD�� ± (VTXHPD�GH�RSHUDomR�GR�3,&�2� WHPSR�QHFHVViULR�GHVGH�R� UHFHELPHQWR�GDV�PHGLo}HV�DWp�D�GLYXOJDomR�QR�VLWH�p�GH�PHQRV�GH���KRUD��SRUWDQWR��p�SRVVtYHO�DFRPSDQKDU�D HYROXomR�GDV�FRQGLo}HV�GR�HVWDGR�GR�PDU�HP�³WHPSR�UHDO´�����KRUDV�SRU�GLD�� LQFOXVLYH�j�QRLWH�TXDQGR� REVHUYDo}HV� YLVXDLV� QmR� VmR�SRVVtYHLV�� $OpP�GDV�PHGLo}HV� GH� RQGD�� R�RQGyJUDIR�WDPEpP�HQYLD�WUrV�LQIRUPDo}HV�FRPSOHPHQWDUHV��WHPSHUDWXUD�GD�iJXD��SRVLomR� GR DSDUHOKR� �PHGLGD� DWUDYpV� GH� *36� SUySULR�� H� QtYHO� GH� FDUJD� GDV�EDWHULDV�

����'LILFXOGDGHV�2SHUDFLRQDLV�(QFRQWUDGDV$� SULPHLUD� GLILFXOGDGH� LPSRUWDQWH� FRP� TXH� D� HTXLSH� VH� GHSDURX� IRL� GH�RUGHP�FRPSXWDFLRQDO��$�HVWDomR�UHFHSWRUD�QD�EDVH�DYDQoDGD�p�FRPSRVWD�GH�XPD�DQWHQD�OLJDGD�D�XP�UHFHSWRU�GH�UiGLR��IRUQHFLGR�SHOR�IDEULFDQWH�GR�RQGyJUDIR��TXH�UHFHEH�H�UHSDVVD�RV�GDGRV�EUXWRV�SDUD�XP�FRPSXWDGRU�FXMD�IXQomR�p�DUPD]HQDU�H�UHWUDQVPLWLU�RV�GDGRV��YLD�LQWHUQHW��SDUD�D�8)6&��8WLOL]DPRV�XP�PLFUR�FRPSXWDGRU�FRP�VLVWHPD�RSHUDFLRQDO�:LQGRZV�TXH�� LQIHOL]PHQWH��PRVWURX� LQFRPSDWLELOLGDGHV�

FRP� R� VRIWZDUH� GH� SURFHVVDPHQWR� IRUQHFLGR� SHOD� 'DWDZHOO� �IHLWR� RULJLQDOPHQWH�SDUD� '26��� $SyV� PXLWDV� WHQWDWLYDV�� FRQVHJXLPRV� PDQWHU� R� VLVWHPD� GH�UHFHSomR�WUDQVPLVVmR�GH�GDGRV�UD]RDYHOPHQWH HVWiYHO�JUDoDV�D�LQVWDODomR�GH�XP�VLVWHPD�RSHUDFLRQDO�:LQGRZV�17�FRP�HPXODGRU�/LQX[�&<*:,1�TXH� Mi�SRVVXL�R�VHUYLGRU�2SHQ66+��$WXDOPHQWH� HVWDPRV� WUDEDOKDQGR� SDUD� WURFDU� WRGR�R� VLVWHPD�RSHUDFLRQDO� GHVVH�PLFUR� SDUD� /LQX[� QD� HVSHUDQoD� GHVWH� VH�PRVWUDU� DLQGD�PDLV�HVWiYHO�$SHVDU� GD� PHOKRULD�� R� FRPSXWDGRU� GD� EDVH� DYDQoDGD� FRQWLQXD� VHQGR� R�SRQWR�PDLV�SUREOHPiWLFR�GR�VLVWHPD��3UREOHPDV�JHUDOPHQWH�RFRUUHP�DSyV�HYHQWRV�GH�IDOWD�GH�HQHUJLD�HOpWULFD��UHODWLYDPHQWH�FRPXQV�QD�iUHD���6H�D�IDOWD�GH�HQHUJLD�VH�SURORQJD��R�VLVWHPD�³QR�EUHDN´�LQVWDODGR�QmR�p�FDSD]�GH�PDQWHU�R�UHFHSWRU�H�R�FRPSXWDGRU� IXQFLRQDQGR��$� UHLQLFLDOL]DomR�DXWRPiWLFD�GR�FRPSXWDGRU�TXDQGR�GR�UHWRUQR�GD�HQHUJLD�PXLWDV�YH]HV�QmR�VH�SURFHVVD�GH�IRUPD�DGHTXDGD�SURYRFDQGR�R�WUDYDPHQWR�GR�VLVWHPD�$R�ILP�GR�SULPHLUR�PrV�GH�DWLYLGDGHV�� WLYHPRV�SUREOHPDV�FRP�DV�EDWHULDV�GR�RQGyJUDIR��$V�EDWHULDV�TXH�XWLOL]DPRV�Mi�KDYLDP�VLGR�XVDGDV�QD�FDPSDQKD�GH�6mR�)UDQFLVFR�GR�6XO���DQRV�DQWHV�H�HVWDYDP�DLQGD�FRP�PHLD�YLGD��2FRUUH�TXH�DV�EDWHULDV�DSUHVHQWDUDP�XPD�SHUGD�GH�FDUJD�DFHOHUDGD�H� WLYHUDP�GH�VHU� WURFDGDV��)HOL]PHQWH�� R� ODERUDWyULR� GLVSXQKD� GH� XP� FRQMXQWR� GH� EDWHULDV� ���� XQLGDGHV���VREUHVVDOHQWHV�TXH��DSHVDU�GH�WHUHP�PDLV�GH���DQRV�GH�LGDGH��QXQFD�KDYLDP�VLGR�XVDGDV�� $SyV� WHVWDU� DV� EDWHULDV� GH� DFRUGR� FRP� UHFRPHQGDomR� GR� IDEULFDQWH��YHULILFDPRV�TXH�DV�PHVPDV�HVWDYDP�HP�SHUIHLWDV�FRQGLo}HV�GH�XVR�H��SRUWDQWR��RUJDQL]RX�VH�XPD�H[SHGLomR�GH�HPHUJrQFLD�SDUD�HIHWXDU�D�VXEVWLWXLomR��&RQWDQGR�QRYDPHQWH�FRP�R�YDOLRVR�DSRLR�GRV�DPLJRV�GR�&(368/��H�FRP�D�FRRSHUDomR�GDV�FRQGLo}HV�DWPRVIpULFDV�H�GH�PDU��D�IDLQD�IRL�OHYDGD�D�FDER�QR�GLD����GH�'H]HPEUR�GH�������2�RQGyJUDIR� IRL� LoDGR�D�ERUGR�GR�QDYLR�H�DV����EDWHULDV� WURFDGDV�FRP�VXFHVVR�8P� SUREOHPD� TXH� WHPRV� REVHUYDGR�� UHIHUH�VH� D� IDOKDV� WHPSRUiULDV� GH�WUDQVPLVVmR�UHFHSomR�GRV�GDGRV��'XDV�H[SOLFDo}HV�SRVVtYHLV�WrP�VLGR�DYHQWDGDV��$� SULPHLUD� SRVVLELOLGDGH� p� TXH� D� DQWHQD� UHFHSWRUD� �HP� WHUUD�� QmR� HVWHMD�VXILFLHQWHPHQWH� DOWD� H� D� VHJXQGD� p� TXH� R� RQGyJUDIR� HVWHMD� VHQGR� SDUFLDOPHQWH�

��

³DIRJDGR´� SRU� IDOWD� GH� IROJD� QR� IXQGHLR�� $SHVDU� GH� QmR� VDEHUPRV� H[DWDPHQWH� R�PRWLYR�GR�SUREOHPD��DV�IDOKDV��DWp�R�PRPHQWR��WrP�VLGR�HVSRUiGLFDV�QmR�KDYHQGR�FRPSURPHWLPHQWR�GD�FDPSDQKD��'H�IDWR��HP���PHVHV�GH�FDPSDQKD�FRQVHJXLPRV�XP� DSURYHLWDPHQWR� GH�PDLV� GH� ���� GRV� GDGRV� VHQGR� D� PDLRULD� GDV� IDOKDV� GH�SRXFDV�KRUDV�GH�GXUDomR�'DQRV� H� GHVDSDUHFLPHQWRV� GH� HTXLSDPHQWRV� RFHDQRJUiILFRV� SRU� DWRV� GH�YDQGDOLVPR�PDUtWLPR�VmR�UHODWLYDPHQWH�FRPXQV�H��SRU�JDUDQWLD��IRL�IHLWR�XP�VHJXUR�GR� RQGyJUDIR�� )HOL]PHQWH�� QmR� WLYHPRV� TXDOTXHU� SUREOHPD� GHVWH� WLSR� DWp� R�PRPHQWR������5HVXOWDGRV�3UHOLPLQDUHV

&RQIRUPH� PHQFLRQDGR� DFLPD�� R� PRQLWRUDPHQWR� GDV� FRQGLo}HV� GR� PDU�DWUDYpV�GR�3,&�HVWi�IXQFLRQDQGR�HP�UHJLPH�RSHUDFLRQDO�GHVGH�PHDGRV�GH�-DQHLUR�GH�������$SHVDU�GH� Mi� WHUPRV�FROHWDGR�XPD�TXDQWLGDGH�UD]RiYHO�GH�GDGRV��XPD�DQiOLVH�FRPSOHWD�GHVVH�PDWHULDO�VHUi�UHDOL]DGD�DSHQDV�DR�ILQDO�GR�SULPHLUR�DQR�GH�PHGLo}HV�� SRUWDQWR�� QHQKXP� UHVXOWDGR� FRQFOXVLYR� VHUi� DSUHVHQWDGR� QHVVH�WUDEDOKR��$�SUHVHQWH�VHVVmR�REMHWLYD�DSHQDV�LOXVWUDU�R�WLSR�GH�LQIRUPDomR�FROHWDGD�H�WDPEpP�GDU�XPD�SHTXHQD�DPRVWUD�GD�VXD�XWLOL]DomR������2QGDV�6XSHUILFLDLV

2�RQGyJUDIR�:DYHULGHU�SURGX]�PHGLo}HV�GRV�GHVORFDPHQWRV�GD�VXSHUItFLH�GR�PDU� FXMR� SURFHVVDPHQWR� SHUPLWH� HVWLPDU� R� HVSHFWUR� GLUHFLRQDO� GR� FDPSR� GH�RQGDV��6LPSOLILFDGDPHQWH��R�SURFHVVDPHQWR�XWLOL]DGR�QR�3,&�ID]�XVR�GD�DQiOLVH�GH�)RXULHU� SDUD� HVWLPDU� D� GLVWULEXLomR� GH� HQHUJLD� HP� IUHT�rQFLD� H� GD� WpFQLFD� GD�0i[LPD� (QWURSLD� SDUD� HVWLPDU� D� GLVWULEXLomR� GLUHFLRQDO� GH� HQHUJLD� QXPD� GDGD�IUHT�rQFLD�� 0DLRUHV� LQIRUPDo}HV� VREUH� HVVH� WySLFR� SRGHP� VHU� HQFRQWUDGD�� SRU�H[HPSOR��HP�$OYHV�H�0HOR������$� )LJXUD� �� PRVWUD� XPD� VpULH� WHPSRUDO� GH� �� PHVHV� GD� YDULiYHO� DOWXUD�VLJQLILFDWLYD�WRWDO�FDOFXODGD�QR�GRPtQLR�GD�IUHT�rQFLD��+6)WRW��GDGD�SRU�

��

RWRW P���+6) ���RQGH�GIG���(�I�P �

���R ³ ³f ���

&RP�(�I�T��VHQGR�R�HVSHFWUR�GLUHFLRQDO�GR�PDU�1RWD�VH� TXH� D� DOWXUD� VLJQLILFDWLYD� FDOFXODGD� GHVVD� IRUPD� FRUUHVSRQGH� D� HQHUJLD�WRWDO SUHVHQWH�QR�PDU�

)LJXUD�� ± 6pULH�WHPSRUDO�GH�$OWXUD�6LJQLILFDWLYD��+6)WRW�$�)LJXUD���DSUHVHQWD�R�KLVWyULFR�GDV�YDULiYHLV�3HUtRGR�GH�3LFR��7S���GHILQLGD�FRPR�R�SHUtRGR�FRUUHVSRQGHQWH�DR�SLFR�PDLV�HQHUJpWLFR�GR�HVSHFWUR�� H�'LUHomR�'RPLQDQWH� �'LU��� GHILQLGD� FRPR� D� GLUHomR� DVVRFLDGD� DR� SHUtRGR� GH� SLFR�� �2EV���HVWD� GLUHomR� FRUUHVSRQGH� j� GLUHomR� GH� RULJHP� GDV� RQGDV�� H[��� 'LU� � ���R��FRUUHVSRQGH�D�RQGDV�YLQGDV�GH�6XO��

��

)LJXUD� �� 6pULHV� WHPSRUDLV� GR� 3HUtRGR� GH� 3LFR� �SDLQHO� VXSHULRU�� H� 'LUHomR�'RPLQDQWH��SDLQHO�LQIHULRU�,QVSHFLRQDQGR�VH� DV� ILJXUDV�� YHULILFD�VH� TXH� KRXYH� GRLV� HYHQWRV� RQGH� D�DOWXUD�VLJQLILFDWLYD�FKHJRX�SUy[LPR�D���P��2�SHUtRGR�GH�SLFR�YDULRX�HQWUH���VHJ��H�SRXFR� PDLV� GH� ��� VHJ�� KDYHQGR� PXLWRV� HYHQWRV� FRP� GLUHomR� GRPLQDQWH� GR�TXDGUDQWH� 6XO� ����R�� FRPR� p� QRUPDOPHQWH� R� FDVR� QR� LQYHUQR�� $V� LQIRUPDo}HV�FRQWLGDV� QRV� �� JUiILFRV� DFLPD� DOLDGDV� DR� FRQKHFLPHQWR� GRV� VLVWHPDV�PHWHRUROyJLFRV� H[LVWHQWHV� QD� UHJLmR� RFHkQLFD� FDSD]� GH� JHUDU� RQGDV� TXH� WHQKD�DFHVVR�j�UHJLmR�GH�PHGLomR�IRUQHFHP�D�EDVH�GH�GDGRV�XVXDOPHQWH�XWLOL]DGDV�SDUD�

��

FDUDFWHUL]DomR� GR� FOLPD� GH� RQGDV� GXPD� FHUWD� UHJLmR�� 8P� HVWXGR� GHVWH� WLSR�EDVHDGR�QXPD�FDPSDQKD�GH�GXUDomR�PDLV�OLPLWDGD�IRL�UHDOL]DGR�SRU�$OYHV�H�0HOR�������� SDUD� D� UHJLmR� FRVWHLUD� GH� 6mR� )UDQFLVFR� GR� 6XO�� 6&�� &RQIRUPH� Mi�PHQFLRQDGR�� D� FDUDFWHUL]DomR� FOLPiWLFD� GD� UHJLmR� VHUi� IHLWD� DSHQDV� DR� ILQDO� GR�SULPHLUR�DQR�GH�PHGLo}HV�$�GHVFULomR�GXP�HVWDGR�GH�PDU�DWUDYpV�GH�XP�~QLFR�JUXSR�GH�SDUkPHWURV��+V��7S�H�'LU��p�EDVWDQWH�VHGXWRUD�SHOD�VXD�VLPSOLFLGDGH�H��SRU� LVVR�� ODUJDPHQWH�XWLOL]DGD��SRUpP�R�PRQLWRUDPHQWR�GLiULR�GDV�FRQGLo}HV�GR�PDU�FRP�XP�RQGyJUDIR�GLUHFLRQDO� WHP� PRVWUDGR� TXH� HVVH� WLSR� GH� GHVFULomR� p�� HP� PXLWDV� VLWXDo}HV��LQVXILFLHQWH�3DUD� LOXVWUDU�HVVD�TXHVWmR��D�)LJ����PRVWUD�R�HVSHFWUR�GLUHFLRQDO�FDOFXODGR�SDUD� R� GLD� ��� GH� -XOKR� GH� �����DV� ��� KRUDV��$� VLWXDomR�H[LVWHQWH� QR�PRPHQWR�GHVVD�PHGLomR� Gi� XPD� LGpLD� GR� JUDX� GH� SUHFLVmR� TXH� p� SRVVtYHO� REWHU� D� SDUWLU�GHVVH� WLSR� GH� DSDUHOKR��'H� IDWR�� R� HVSHFWUR� GLUHFLRQDO�PRVWUD� D� H[LVWrQFLD� GH� ��SLFRV�GH�HQHUJLD�EDVWDQWH�GLVWLQWRV��XP�SULPHLUR�UHODWLYR�D�XPD�RQGXODomR�GH�6XO�FRP�SLFR�HP�����+]�� UHPDQHVFHQWH�GH�XP�³VZHOO´�TXH�KDYLD�GRPLQDGR�R�PDU�QR�GLD�DQWHULRU��RXWUR��PDLV�HQHUJpWLFR��UHODWLYR�D�XP�³PDU�GH�OHVWH´�FRP�SLFR�HP������+]�H��DLQGD��XP� WHUFHLUR�SURYHQLHQWH�GH�11:�GH�IUHT�rQFLD�EHP�DOWD�± SLFR�HP������ +]� ± VXJHULQGR� JHUDomR� ORFDO�� $V� FRQGLo}HV� DWPRVIpULFDV� H[LVWHQWHV�LQGLFDYDP� D� DSUR[LPDomR� GXPD� IUHQWH� IULD�� 2V� YHQWRV�� TXH� WLQKDP� VRSUDGR� GR�TXDGUDQWH�(�GXUDQWH�R�GLD��GHUDP�OXJDU�D�YHQWRV�GH�1:��$VVLP��DV�FRQGLo}HV�GH�PDU� UHWUDWDGDV� QR� HVSHFWUR� GLUHFLRQDO� WUL�PRGDO�� UHIOHWLUDP� GH� IRUPD� EDVWDQWH�FRQVLVWHQWH�D�HYROXomR�GR�FDPSR�GH�YHQWRV�H[LVWHQWHV�QD�RFDVLmR�

��

)LJXUD�� ± (VSHFWUR�'LUHFLRQDO�PHGLGR�QR�GLD����������������DV�������K���1D�FRQYHQomR�XWLOL]DGD��D�HQHUJLD�p�FRORFDGD�QD�GLUHomR�GH�RQGH�DV�RQGDV�YrP��e� LQWHUHVVDQWH�REVHUYDU�TXH�D�GHVFULomR�GH�XP�HVWDGR�GH�PDU�DWUDYpV�GR�VHX�HVSHFWUR�GLUHFLRQDO�SRVVLELOLWD�LGHQWLILFDU�H��VH�QHFHVViULR��³VHSDUDU´�GLIHUHQWHV�FDPSRV�GH�RQGD�HYHQWXDOPHQWH�H[LVWHQWHV��&RPR�R�PRQLWRUDPHQWR�WHP�PRVWUDGR�TXH�D�SUHVHQoD�GH�HVSHFWURV�PXOWL�PRGDLV�p�EDVWDQWH�FRPXP��D�SRVVLELOLGDGH�GH�VHSDUDomR� GH� ³PDUHV� FUX]DGRV´� SRGHUi� VHU� ~WLO� SDUD� XPD� PHOKRU� GHILQLomR� GR�FOLPD� GH� RQGDV� QD� UHJLmR� HP� TXHVWmR�� 1R� FDVR� DFLPD�� SRU� H[HPSOR�� XP� ~QLFR�HVWDGR� GH� PDU� SRGHULD� VHU� GHFRPSRVWR� HP� �� FRQMXQWRV� GH� +V�� 7S� H� 'LU�FRQWULEXLQGR� VLPXOWDQHDPHQWH� FRP� HQHUJLD� HP� �� GLUHo}HV� GLIHUHQWHV�� &RP� HVWH�H[SHGLHQWH��D�GHILQLomR�GD�GLVWULEXLomR�DQXDO�GH�HQHUJLD�SRU�VHWRUHV�GH�GLUHomR�±XP� GDGR� FOLPiWLFR� PXLWR� XWLOL]DGR� HP� HVWXGRV� GH� WUDQVSRUWH� GH� VHGLPHQWRV� QD�FRVWD�� SRU� H[HPSOR� ± SRGHUi� VHU� HVSHFLILFDGD�GH� IRUPD�PDLV� FRQVLVWHQWH� FRP�D�UHDOLGDGH�(VVD� FDUDFWHUtVWLFD�PXOWL�PRGDO� GR� HVSHFWUR� GR�PDU� QD� UHJLmR� HP� HVWXGR�WDPEpP�H[SOLFD�DV�YDULDo}HV�UiSLGDV�GR�SHUtRGR�GH�SLFR�H�GD�GLUHomR�GRPLQDQWH�REVHUYDGDV�HP�YiULDV�RFDVL}HV�QD�)LJ�� ���'H� IDWR�� D�H[LVWrQFLD�VLPXOWkQHD�GH����RX�PDLV��FDPSRV�GH�RQGD�p� UHVSRQViYHO�SRU�HVWH�FRPSRUWDPHQWR�SRLV� WDQWR�7S�TXDQWR�'LU�FRUUHVSRQGHP�DR�SLFR�PDLV�HQHUJpWLFR�GR�HVSHFWUR��VH�RV�SLFRV�WLYHUHP�

��

QtYHLV� GH� HQHUJLD� SUy[LPRV�� XPD� SRVVtYHO� DOWHUQkQFLD� HQWUH� RV� SLFRV� PDLV� DOWRV�RFDVLRQDULD�D�RVFLODomR�GH�SDUkPHWURV�DFLPD�UHIHULGD�$OpP�GR�PRQLWRUDPHQWR�GDV�FRQGLo}HV�GH�RQGD�DR�ODUJR��XP�GRV�REMHWLYRV�RULJLQDLV�GR�3,&�p�ID]HU�GLDJQyVWLFRV�GR�HVWDGR�GR�PDU�HP�iJXDV�UDVDV�DR�ORQJR�GD�FRVWD��2�SRVLFLRQDPHQWR�GR�RQGyJUDIR�HP����P�GH�SURIXQGLGDGH��QD�YHUGDGH��YLVRX�IDFLOLWDU�HVVD�WDUHID�R�Pi[LPR�SRVVtYHO��$�LGpLD�p�XVDU�R�HVSHFWUR�GLUHFLRQDO�PHGLGR�DR�ODUJR�FRPR�FRQGLomR�GH�FRQWRUQR�H[WHUQD�SDUD�PRGHORV�GH�SURSDJDomR�GH� RQGDV� H� GHVVD� IRUPD� WUDQVIRUPDU� HVVD� PHGLomR� SRQWXDO� QXP� GLDJQyVWLFR�UHJLRQDO�GR�HVWDGR�GR�PDU�DR�ORQJR�GXP�FHUWR�WUHFKR�GH�FRVWD��(VWD�p�D�HWDSD�QD�TXDO� D�HTXLSH�GR�/$+,0$5�HQFRQWUD�VH�HQJDMDGD�QR�PRPHQWR�H�HVSHUD�VH�TXH�HP�EUHYH� Mi� WHQKDPRV�HVVH�VHUYLoR� WDPEpP�HP�RSHUDomR��'HWDOKHV�VREUH�HVVH�WySLFR�VHUmR�SXEOLFDGRV�RSRUWXQDPHQWH�2�/DERUDWyULR�WDPEpP�RIHUHFH�XP�VHUYLoR�GH�SUHYLVmR�GH�RQGDV�LJXDOPHQWH�JUDWXLWR� WDPEpP� GLVSRQtYHO� QR� VLWH� ZZZ�ODKLPDU�XIVF�� (VWH� VHUYLoR� XVD� FRPR�HQWUDGD�FDPSRV�GH�YHQWR�GH�GRPtQLR�S~EOLFR�SURJQRVWLFDGRV�SHOD�12$$�DWUDYpV�GH� PRGHORV� DWPRVIpULFRV� �GLVSRQtYHLV� QD� LQWHUQHW��� (VVHV� GDGRV� DOLPHQWDP� R�PRGHOR� GH� JHUDomR� GH� RQGDV�::��� WDPEpP� GH� GRPtQLR� S~EOLFR�� SRVVLELOLWDQGR�TXH� VH� IDoDP� SUHYLV}HV� GH� RQGD� SDUD� DWp� �� GLDV�� )XWXUDPHQWH�� SUHWHQGHPRV�FRPELQDU� DV� PHGLo}HV� GR� RQGyJUDIR� FRP� R� PRGHOR� GH� SUHYLVmR� GH� RQGDV�GHVHQYROYHQGR� XP� VLVWHPD� GH� DVVLPLODomR� GH� GDGRV� TXH� SRVVLELOLWH� FRUULJLU��TXDQGR�QHFHVViULR��UHVXOWDGRV�PRGHODGRV�D�SDUWLU�GH�GDGRV�GH�FDPSR�����7HPSHUDWXUD�GD�6XSHUItFLH�GR�0DU

$� )LJXUD� ���PRVWUD� XPD� VpULH� WHPSRUDO� GD� WHPSHUDWXUD� GD� iJXD�PHGLGD�SHOR�RQGyJUDIR�SDUD�R�PHVPR�SHUtRGR�

��

)LJXUD��� ± 6pULH�WHPSRUDO�GH�WHPSHUDWXUD�SDUD�RV�PHVHV�GH�0DLR��-XQKR�H�-XOKR�GH�����e� LQWHUHVVDQWH� REVHUYDU� D� WHQGrQFLD� GH� GHFUpVFLPR� GD� WHPSHUDWXUD�UHJLVWUDGD�SHOR� LQVWUXPHQWR�D�SDUWLU�GD�VHJXQGD�VHPDQD�GH�-XQKR��'H� IDWR��XPD�LQVSHomR�YLVXDO�GD�ILJXUD�PRVWUD�TXH�D�WHPSHUDWXUD��TXH�GXUDQWH�R�PrV�GH�0DLR�H�LQtFLR� GH� -XQKR�PDQWHYH�VH� HP� WRUQR� GH� ��R &�� FDLX� FRQVLVWHQWHPHQWH� GXUDQWH�FHUFD�GH���VHPDQDV�DWp�DWLQJLU�XP�SDWDPDU�PpGLR�SUy[LPR�D���R &��(VWH�SRGH�VHU�XP� LQGtFLR� GD� SHQHWUDomR� VREUH� D� SODWDIRUPD FRQWLQHQWDO� GH� XPD�PDVVD� G¶iJXD�PDLV�IULD�YLQGD�GR�6XO�FRPR�GLVFXWLGR�D�VHJXLU��

�����6HQWLGR�GH�'HULYD�GR�2QGyJUDIR2� RQGyJUDIR� :DYHULGHU� HVWi� WDPEpP�� HTXLSDGR� FRP� XP� VLVWHPD� GH�ORFDOL]DomR�*36�FRQFHELGR�SDUD�DX[LOLDU�QD�UHFXSHUDomR�GR�DSDUHOKR�FDVR�HVWH�VH�GHVJDUUH�GR�IXQGHLR��(VVH�VLVWHPD�SRVVLELOLWD�GHWHUPLQDU�D�SRVLomR�GD�EyLD�QR�PDU�FRP�XPD�SUHFLVmR�GD�RUGHP�GH����PHWURV��$GLFLRQDOPHQWH��R�VLVWHPD�GH�IXQGHLR�XWLOL]DGR�� ORQJR� H� IOH[tYHO�� SHUPLWH� TXH� R� RQGyJUDIR� VH� GHVORTXH� GHQWUR� GH� XP�FtUFXOR� FRP� FHUFD� GH� ���� PHWURV� GH� GLkPHWUR�� $� )LJ�� ��� PRVWUD� D� SRVLomR�DVVXPLGD� SHOR� DSDUHOKR� D� FDGD� KRUD� GXUDQWH� R� SHUtRGR� GH� REVHUYDomR�FRQVLGHUDGR�QHVVH�WUDEDOKR�

��

)LJXUD��� ± 3RVLomR�KRUiULD�GR�RQGyJUDIR�GXUDQWH�RV�PHVHV�GH�0DLR��-XQKR�H�-XOKR�GH�����$QDOLVDQGR D� ILJXUD� FRQVWDWD�VH� XP� UHVXOWDGR� LQHVSHUDGR�� R� VLVWHPD�*36�GR�RQGyJUDIR�p�SUHFLVR�R�VXILFLHQWH�SDUD�VHU�XWLOL]DGR�FRPR�LQGLFDGRU�GR�VHQWLGR�GH�GHULYD� GR� HTXLSDPHQWR�� 'H� IDWR�� R� JUiILFR� PRVWUD� FODUDPHQWH� TXH� R� RQGyJUDIR�WHQGH� D� DVVXPLU� SRVLo}HV� LQWHULRUHV D� XP� FtUFXOR� WUDoDGR� D� SDUWLU� GR� SRQWR� GH�ODQoDPHQWR� GD� SRLWD� FRQIRUPH� VH� HVSHUDYD�� &XULRVDPHQWH�� D� ILJXUD� WDPEpP�PRVWUD�TXH�RV�SRQWRV�QmR�HVWmR�XQLIRUPHPHQWH�GLVWULEXtGRV�DR�ORQJR�GR�FtUFXOR�GH�SRVLo}HV� SRVVtYHLV� LQGLFDQGR� TXH� D� EyLD� WHQGH� D� GHULYDU� GHQWUR� GH� XP� VHWRU� GH�GLUHomR� SUHIHUHQFLDO�� $� JURVVR� PRGR�� SRGH�VH� GL]HU� TXH� R� RQGyJUDIR� WHQGH� D�GHULYDU� RX� QR� VHQWLGR� 1RUWH� �L�H��� SDUD� 1RUWH�� RX� QR� VHQWLGR� 6XO� �L�H��� SDUD� 6XO��KDYHQGR�SRXFDV�RFRUUrQFLDV�GH�GHULYD�QR�VHQWLGR�/HVWH�RX�2HVWH��2EVHUYD�VH�TXH�D� GLUHomR� ³HVFROKLGD´� SHOR� HTXLSDPHQWR� FRUUHVSRQGH� j� RULHQWDomR� GD� OLQKD� GH�FRVWD�QD�UHJLmR��YHU�)LJ�����3DUD� PHOKRU� TXDQWLILFDU� HVWD� WHQGrQFLD� FRQVWUXLX�VH� XP� KLVWRJUDPD�GLUHFLRQDO�GD�GHULYD��PRVWUDGR�QD�)LJXUD�����GH� IRUPD�WDO�TXH�R�FRPSULPHQWR�GH�FDGD� EDUUD� IRVVH� SURSRUFLRQDO� DR� Q~PHUR� GH� RFRUUrQFLDV� GHQWUR� GH� VHWRUHV� GH�GLUHomR� FRP� ����R GH� ODUJXUD� �LQGHSHQGHQWHPHQWH� GD� PDJQLWXGH� GR�GHVORFDPHQWR��

��

60

240

30

210

0

180

330

150

300

120

270 90

Histograma direcional da deriva do ondógrafo

01 Maio a 31 Julho de 2002

5%10%

15%20%

25%30%

35%

Direção de deriva

)LJXUD��� ± +LVWRJUDPD�GLUHFLRQDO�GD�SRVLomR�KRUiULD�GR�RQGyJUDIR&RQVLGHUDQGR� D� SHUFHQWDJHP� GH� RFRUUrQFLD� GHQWUR� GH� FDGD� XP� GRV� ��TXDGUDQWHV��R�KLVWRJUDPD�IRUQHFH�R�VHJXLQWH�UHVXOWDGR��'HULYD�SDUD�1� ������SDUD�(� �����SDUD�6� �������H�SDUD�:� �������3RUWDQWR��Ki�LQGtFLRV�EHP�HYLGHQWHV�GD�SUHGRPLQkQFLD�GD�GHULYD�GR�RQGyJUDIR�SDUD�1RUWH�3DUD�LOXVWUDU�D�DOWHUQkQFLD�GR�VHQWLGR�GD�GHULYD�DR�ORQJR�GR�WHPSR��WUDoRX�VH�D�)LJXUD����DEDL[R�D�TXDO�PRVWUD�D�YDULDomR�GD�FRPSRQHQWH�GR�YHWRU�SRVLomR�GR� RQGyJUDIR� VHJXQGR� XPD� GLUHomR� DSUR[LPDGDPHQWH� SDUDOHOD� D� OLQKD� GH� FRVWD��TXDVH�1�6��

��

)LJXUD��� ± 6pULH�WHPSRUDO�GD�FRPSRQHQWH�GR�YHWRU�SRVLomR�KRUiULD�GR�RQGyJUDIR�VHJXQGR�XPD�GLUHomR�DSUR[LPDGDPHQWH�SDUDOHOD�j�OLQKD�GH�FRVWD�2V� UHVXOWDGRV� DFLPD� PRVWUDP� TXH� D� GHULYD� GR� RQGyJUDIR� DSUHVHQWD� XP�SDGUmR� EHP� GHILQLGR� R� TXDO� GHYH� UHIOHWLU� GH� DOJXPD� PDQHLUD� R� IHQ{PHQR�UHVSRQViYHO�SRU�WDO�PRYLPHQWR��(VVH�WySLFR�HVWi�VHQGR�LQYHVWLJDGR�SHOD�HTXLSH�GR�/$+,0$5�KDYHQGR� DLQGD�PXLWDV� TXHVW}HV� TXH� SUHFLVDP� VHU�PHOKRU� HOXFLGDGDV��HQWUHWDQWR��HP�YLVWD�GD�VXD�LPSRUWkQFLD�SDUD�HVWXGRV�GH�GLVSHUVmR�GH�yOHR�QR�PDU��DSUHVHQWD�VH�� D� VHJXLU� XPD� GLVFXVVmR� SUHOLPLQDU� VREUH� D� LQWHUSUHWDomR� GHVVHV�UHVXOWDGRV�

�������'LVFXVVmR�3UHOLPLQDU'HQWUH� RV� DJHQWHV� ItVLFRV� FDSD]HV� GH� SURGX]LU� DUUDVWH� QR� LQVWUXPHQWR� �RQGDV��FRUUHQWHV�PDUtWLPDV�H�YHQWRV�� QyV�DFUHGLWDPRV�TXH�D�GHULYD�GR�RQGyJUDIR�UHVSRQGD� SULPRUGLDOPHQWH� jV� FRUUHQWHV� PDUtWLPDV�� (VVD� H[SHFWDWLYD� EDVHLD�VH�QXPD� DQiOLVH� VLPSOLILFDGD� GR� SUREOHPD�� DSUHVHQWDGD� QR� $SrQGLFH�� TXH� DLQGD�QHFHVVLWD�GH�HVWXGRV�FRPSOHPHQWDUHV�SDUD�VXD�FRQILUPDomR�$GPLWLQGR�� SRU� KLSyWHVH�� TXH� R� VHQWLGR� GH� GHULYD� GR� RQGyJUDIR UHIOLWD� R�VHQWLGR� GH� GHULYD�GDV� iJXDV QR� ORFDO� GH�PHGLomR�� p� LQWHUHVVDQWH� REVHUYDU� TXH��DSHVDU�GH�KDYHU�XPD�DOWHUQkQFLD�FtFOLFD�GH�VHQWLGR��)LJ�������D�GHULYD�SDUD�1RUWH�RFRUUHX� HP� ����GR� WHPSR� HQTXDQWR� D� GHULYD� SDUD�6XO� HP� DSHQDV� ����SDUD� R�SHUtRGR� FRQVLGHUDGR� �)LJ�� ����� $SHVDU� GH� QmR� GLVSRUPRV� GD� LQWHQVLGDGH� GD�

��

FRUUHQWH�� HVWH� UHVXOWDGR�TXDOLWDWLYR� VXJHUH�D�H[LVWrQFLD�GH�XPD�FRUUHQWH� UHVLGXDO�GH�6XO�SDUD�1RUWH�VREUH�D�SODWDIRUPD�FRQWLQHQWDO�VXO�VXGHVWH�EUDVLOHLUD��$GPLWLQGR�TXH�WDO�FRUUHQWH�WUDQVSRUWDVVH�iJXDV�PDLV�IULDV�TXH�DV�QRUPDOPHQWH�HQFRQWUDGDV�QD�SODWDIRUPD�GH�6DQWD�&DWDULQD��XP�IOX[R�UHVLGXDO�SDUD�1RUWH�GHYHULD�RFDVLRQDU�XPD� TXHGD� GH� WHPSHUDWXUD� QR� PDU� j� PHGLGD� TXH� HVVD� QRYD� PDVVD� G¶iJXD�SHQHWUDVVH� QD� UHJLmR��(VVD� FRQMHFWXUD� SDUHFH�HVWDU� GH� DFRUGR FRP�D� TXHGD�GH�WHPSHUDWXUD�REVHUYDGD�SHOR�DSDUHOKR��)LJ�����1D� YHUGDGH�� D� H[LVWrQFLD� GH� XPD� FRUUHQWH� UHVLGXDO� SDUD� 1RUWH� VREUH� D�SODWDIRUPD� FRQWLQHQWDO� VXO� EUDVLOHLUD� QmR� p� QRYLGDGH� WHQGR� VLGR� LQYHVWLJDGD� SRU�GLYHUVRV� DXWRUHV� �H�J�� &DPSRV�� /RUHQ]HWWL�� 6WHYHQVRQ�� 6WHFK� H� 6RX]D�� ����� H�3LPHQWD��������'R�SRQWR�GH�YLVWD�GH�GHUUDPHV�GH�yOHR�QR�PDU��D�GLVSRQLELOLGDGH�GH�XPD�PHGLomR�HP� WHPSR�UHDO GR�VHQWLGR�GH�GHULYD�GDV�iJXDV�VXSHUILFLDLV�SRGH�VHU�~WLO�SDUD� VH� WHU� XPD� LGpLD� GR� UXPR� SDUD� RQGH�R� yOHR� VHULD� DGYHFWDGR� QXP�HYHQWXDO�YD]DPHQWR�(VVH�E{QXV�H[WUD��SURSRUFLRQDGR�SHOR�*36�GR�RQGyJUDIR�� WDPEpP�VXJHUH�XP� PpWRGR� LQGLUHWR� SDUD� PHGLomR� GH� FRUUHQWHV� VXSHUILFLDLV�� &RP� HIHLWR�� VH� D�GLQkPLFD� GR� DUUDVWH� QR� VLVWHPD� EyLD�FDERV� SXGHU� VHU� PRGHODGD� FRP� SUHFLVmR�UD]RiYHO VHUi� SRVVtYHO� LQIHULU� D� LQWHQVLGDGH� GD� FRUUHQWH�� DOpP� GD� VXD� GLUHomR� H�VHQWLGR�� D� SDUWLU� GXPD�PHGLomR� GH� GHULYD� GD� EyLD�� (VVH� H� RXWURV� WySLFRV� HVWmR�VHQGR�LQYHVWLJDGRV�QR�/$+,0$5�H�VHUmR�DSUHVHQWDGRV�RSRUWXQDPHQWH�����&RQFOXV}HV

2� 3URJUDPD� GH� ,QIRUPDomR� &RVWHLUD� GLVSRQLELOL]D� JUDWXLWDPHQWH�LQIRUPDo}HV� VREUH� R� HVWDGR� GR� PDU� HP� WHPSR� UHDO� DWUDYpV� GD� LQWHUQHW� QR� VLWH��ZZZ�ODKLPDU�XIVF�EU��� 2� FRQWUROH� GH� DFHVVRV� j� SiJLQD� LQGLFD� FHUFD� GH� ������YLVLWDV� HP���PHVHV�GH IXQFLRQDPHQWR� R� TXH�PRVWUD� R� LQWHUHVVH�GD� FRPXQLGDGH�SRU�HVWH�VHUYLoR�$OpP�GR�DVSHFWR�SUiWLFR�GH�FDUiWHU�LPHGLDWR��DFUHGLWDPRV�TXH�R�DFHUYR�GH�GDGRV�TXH�HVWi�VHQGR�FROHWDGR�VHUi�GH�JUDQGH�LPSRUWkQFLD�SDUD�HOXFLGDU�LQ~PHUDV�

��

TXHVW}HV�FLHQWtILFDV�LPSRUWDQWHV�SDUD�R�HQWHQGLPHQWR�GD�KLGURGLQkPLFD�GD�UHJLmR�FRVWHLUD�GR�VXO�GR�%UDVLO�*UDoDV�DV�IDFLOLGDGH�GD� LQWHUQHW��R�3URJUDPD�GH� ,QIRUPDomR�&RVWHLUD�± RQOLQH SRVVLELOLWRX� DOLDU� GH� IRUPD� KDUPRQLRVD� XP� VHUYLoR� GH� XWLOLGDGH� S~EOLFD� DR�WUDEDOKR�GH�SHVTXLVD�FLHQWtILFD�TXH�VH�DOPHMD�UHDOL]DU�QD�8)6&��&RP�R�VXFHVVR�GR�PRQLWRUDPHQWR�HP�6DQWD�&DWDULQD��R�3URJUDPD�SRGHULD�VHU�DPSOLDGR�SDUD�RXWUDV�UHJL}HV�FRVWHLUDV�GR�SDtV�����$JUDGHFLPHQWRV

$�LPSOHPHQWDomR�GR�3URJUDPD�GH�,QIRUPDomR�&RVWHLUD�IRL�SRVVtYHO�JUDoDV�DR� VXSRUWH� ILQDQFHLUR�GR�&13T�H�GD )XQFLWHF�� j� FRODERUDomR�GD�3HWUREUiV� H�GR�&(368/�,EDPD� H�� SULQFLSDOPHQWH�� DR� HQWXVLDVPR� H� PRWLYDomR� GD� HTXLSH� GH�SHVTXLVDGRUHV�H�DOXQRV�HQYROYLGRV�QR�SURMHWR��$�WRGRV�GHL[DPRV�QRVVR�SURIXQGR�UHFRQKHFLPHQWR���� � $SrQGLFH� � (VWLPDWLYD� GD� 2UGHP� GH� *UDQGH]D� GR� $UUDVWH� LQGX]LGR� SRU�2QGDV���&RUUHQWHV�H�9HQWRV�VREUH�R�2QGyJUDIR

2QGDV� VXSHUILFLDLV� LQGX]HP� PRYLPHQWRV� RVFLODWyULRV� QD� iJXD� TXDQGR� GD�VXD� SDVVDJHP� �9HU�� SRU� H[�� 'HDQ� H� 'DOU\PSOH� ������� 1R� FDVR� GH� RQGDV�PRQRFURPiWLFDV�GH�DPSOLWXGH�LQILQLWHVLPDO�HP�iJXDV�SURIXQGDV��XPD�SDUWtFXOD�GH�iJXD�QD�VXSHUItFLH�GHVFUHYHUi�XPD�yUELWD�DSUR[LPDGDPHQWH�FLUFXODU�QmR�KDYHQGR��SRUWDQWR��WUDQVSRUWH�GH�PDVVD��6H�D�DPSOLWXGH�GD�RQGD�GHL[DU�GH�VHU�LQILQLWHVLPDO�D�VLPHWULD�GR�PRYLPHQWR�p�TXHEUDGD��R ³YDL´�WRUQD�VH�XP�SRXFR�PDLV�IRUWH�TXH�R�³YHP´���D�yUELWD�QmR�PDLV�VH�IHFKD�VREUH�VL�PHVPD�H�VXUJH�XPD�FRUUHQWH�UHVLGXDO��FRQKHFLGD��FRPR�GHULYD�GH�6WRNHV��$�GHULYD�GH�6WRNHV�p�XP�HIHLWR�QmR�OLQHDU�TXH��SRUWDQWR�� GHSHQGH� GD� GHFOLYLGDGH� GD� RQGD� �L�H�� UHODomR� HQWUH� DPSOLWXGH� H�FRPSULPHQWR� GH� RQGD��� 3DUD� R� FDVR� GH� RQGDV�PRQRFURPiWLFDV� WHP�VH� �3KLOOLSV��������SJ�����

��

NG�VLQK G�FRVK�N�]1ND8 � R�VW � ���

2QGH�� D � DPSOLWXGH��V IUHT�rQFLD� DQJXODU�� N Q~PHUR� GH� RQGD�� ]R SURIXQGLGDGH�RQGH� VH� GHVHMD� FDOFXODU� D� YHORFLGDGH� �VXSHUItFLH�o ]R ��� � H� � G � SURIXQGLGDGH�ORFDO� 'H�SRVVH�GD�HT�����p�SRVVtYHO�HVWLPDU�D�RUGHP�GH�JUDQGH]D�GD�GHULYD�GH�6WRNHV�SDUD�D�UHJLmR�GH�IXQGHLR�GR�RQGyJUDIR��7RPDQGR��SRU�H[HPSOR��RV�YDORUHV�D ��P��7 ���V��G� ����P� H� ]R ����GHULYD�VXSHUILFLDO��REWpP�VH�8VW ��������P�V��2%6��DOWXUD�GD�RQGD�p�R�GREUR�GD�DPSOLWXGH���3DUD�D ��P��7 ��V��WHP�VH�8VW �������P�V�&RP�D�DQiOLVH�DFLPD�SRGH�VH�LQIHULU�TXH�D�RUGHP�GH�JUDQGH]D�GD�FRUUHQWH�UHVLGXDO�LQGX]LGD�SHODV�RQGDV�QD�VXSHUItFLH�GR�PDU�QD�UHJLmR�GH�IXQGHLR�GHYH�VHU�GH� DOJXQV� FP�V� QD� PDLRU� SDUWH� GR� WHPSR�� (P� VLWXDo}HV� GH� PDU� DJLWDGR��SULQFLSDOPHQWH� HP� VLWXDo}HV� �UDUDV�� GH�PDU� FRP�SHUtRGRV� FXUWRV�� HVVD� FRUUHQWH�SRGH� FKHJDU� D� DOJXPDV� SRXFDV� GH]HQDV� GH� FP�V�� 3RU� RXWUR� ODGR�� D� RUGHP� GH�JUDQGH]D� HVSHUDGD� SDUD� FRUUHQWHV� PDUtWLPDV� QmR� UHODFLRQDGDV� jV� RQGDV�VXSHUILFLDLV���H�J��FRUUHQWHV�GH�PDUp��GH�YHQWRV��FRUUHQWHV�JHRVWUyILFDV��FRUUHQWHV�LQHUFLDLV�� HWF� �� p� GH� DOJXPDV� GH]HQDV� GH� FP�V� D� �� P�V�� 3RUWDQWR�� p� UD]RiYHO�FRQFOXLU�TXH�QD�PDLRU�SDUWH�GR�WHPSR�D�GHULYD�VXSHUILFLDO�GD�iJXD�VHMD�GRPLQDGD�SHODV�FRUUHQWHV�PDUtWLPDV�H�QmR�SHOD�DomR�GDV�RQGDV�VXSHUILFLDLV�$�PDJQLWXGH�UHODWLYD�GR�DUUDVWH�GDV�FRUUHQWHV�PDUtWLPDV�H�GRV�YHQWRV�VREUH�R� RQGyJUDIR�� VHUi� DJRUD� DQDOLVDGD�� ,QLFLDOPHQWH�� REVHUYD�VH� TXH� DV� FRUUHQWHV�PDUtWLPDV YmR�DWXDU��QmR�DSHQDV�VREUH�R�RQGyJUDIR��PDV�WDPEpP�VREUH�RV�FDERV�GR� IXQGHLR�� QR� VHQWLGR� GH� DUUDVWDU� WRGR� R� VLVWHPD� �EyLD�FDERV�� MXQWR� FRQVLJR��$OpP� GLVVR�� WDQWR� D� LQWHQVLGDGH� TXDQWR� D� GLUHomR GD� FRUUHQWH� DR� ORQJR� GD�SURIXQGLGDGH�SRGHP�DSUHVHQWDU�YDULDo}HV��(QWUHWDQWR��QHVVD�DQiOLVH�VLPSOLILFDGD�YDPRV�FRQVLGHUDU�DSHQDV�R�DUUDVWH�GDV�FRUUHQWHV�QR�FRUSR�GR�RQGyJUDIR�'H� PDQHLUD� JHUDO�� QXP� HVFRDPHQWR� D� DOWR� Q~PHUR� GH� 5H\QROGV� �L�H��WXUEXOHQWR��D� LQWHQVLGDGH�GR�DUUDVWH�GR�IOXLGR�VREUH�XP�FRUSR�TXDOTXHU�GHSHQGH���L��GD�LQWHQVLGDGH�GD�FRUUHQWH��8����LL��GD�iUHD�H�GD�IRUPD�GR�FRUSR��SDUDPHWUL]DGDV�

��

HP�IXQomR�GXP�FRHILFLHQWH�GH�DUUDVWH�&��H��LLL��GD�PDVVD�HVSHFtILFD�GR�IOXLGR��UDJXDSDUD�FRUUHQWHV�H�UDU SDUD�RV�YHQWRV��$VVLP�� GD� PHVPD� IRUPD� TXH� DV� FRUUHQWHV� PDUtWLPDV�� R� YHQWR� VREUH� D�VXSHUItFLH�GR�PDU�WDPEpP�SRGH�SURYRFDU�GHULYD�QR�RQGyJUDIR�DWUDYpV�GXPD�IRUoD�GH�DUUDVWH�DWXDQWH�QD�SDUWH�HPHUVD�GR�PHVPR��&RPR�R�RQGyJUDIR�IRL�FRQVWUXtGR�GH�PRGR� D� ILFDU� ���� VXEPHUVR� TXDQGR� HP� RSHUDomR� �YHU� )LJ� ���� R� DUUDVWH� GR�YHQWR� H� R� DUUDVWH� GDV� FRUUHQWHV� PDUtWLPDV� GDU�VH�LDP� VREUH� XP� FRUSR� FRP� D�PHVPD�VXSHUItFLH�H�D�PHVPD�IRUPD�(P�YLVWD�GR�TXH�IRL�DSUHVHQWDGR�DFLPD��XPD�DQiOLVH�GD�PDJQLWXGH�UHODWLYD�GR�DUUDVWH�SURYRFDGR�SHOR� YHQWR�H�SHODV� FRUUHQWHV�PDUtWLPDV�VREUH�R�RQGyJUDIR�SRGH�VHU�IHLWD�DWUDYpV�GD�VHJXLQWH�UHODomR��

�YHQWR

FRUUHQWH)) YHQWRHPHUVDDUFRUUVXEPHUVDPDU 9& 9&UU

&RPR�D�SDUWH�VXEPHUVD�p� LGrQWLFD�D�SDUWH�HPHUVD�GR�RQGyJUDIR�GHYLGR�D�VXD� IRUPD� HVIpULFD�� R� FRHILFLHQWH� GH� DUUDVWH� �&� �� WHP� R� PHVPR� YDORU� VHQGR�HOLPLQDGR�GD�HT������$GPLWLQGR�TXH�YHORFLGDGH GR�YHQWR�DR�QtYHO�GR�PDU�VHMD����YH]HV�PDLRU� TXH�D� YHORFLGDGH�GD� FRUUHQWH�D� VXSHUItFLH� H� VDEHQGR�TXH�D�PDVVD�HVSHFtILFD�GD�iJXD�p�FHUFD�GH������YH]HV�PDLRU�TXH�D�GR�DU��WHP�VH������ �����)) �

�YHQWR

FRUUHQWH � � YHQWRDUFRUUPDU99UU

$�FRQFOXVmR�GHVVD�DQiOLVH�VLPSOLILFDGD�p�TXH�R�DUUDVWH�GR�RQGyJUDIR�SHODV�FRUUHQWHV� PDUtWLPDV� GHYH� VHU� XPD� RUGHP� GH� PDJQLWXGH� PDLRU� TXH� R� DUUDVWH�FDXVDGR�WDQWR�SHOR�YHQWR�TXDQWR�SHOD�FRUUHQWH�UHVLGXDO�LQGX]LGD�SHODV�RQGDV��(P�DPERV�RV�FDVRV��WDO�UHODomR�VHULD�DLQGD�DXPHQWDGD�VH�FRQVLGHUiVVHPRV�R�DUUDVWH�GD� FRUUHQWH� QR� IXQGHLR��3RUWDQWR�� DFUHGLWDPRV�TXH�D� GHULYD� GR� RQGyJUDIR� HVWHMD�UHVSRQGHQGR�SULPRUGLDOPHQWH�jV�FRUUHQWHV�PDUtWLPDV�

��

����5HIHUrQFLDV$OYHV��-�+�*�0��H�0HOR��(���������³0HDVXUHPHQW�DQG�0RGHOLQJ�RI�:LQG�:DYHV�DW�WKH� 1RUWKHUQ� &RDVW� RI� 6DQWD� &DWDULQD�� %UD]LO´�� 5HYLVWD� %UDVLOHLUD� GH�2FHDQRJUDILD���������SS�������$OYHV�� -�+�*�0�� H� 0HOR�� (��� ������ ³2Q� WKH� 0HDVXUHPHQW� RI� 'LUHFWLRQDO� :DYH�6SHFWUD�DW�WKH�6RXWKHUQ�%UD]LOLDQ�&RDVW´��$SSOLHG�2FHDQ�5HVHDUFK��YRO������SS���������&DPSRV��(�-�'���/RUHQ]HWWL��-�$���6WHYHQVRQ��0�5���6WHFK��-�/��H�6RX]D�5�%���������³3HQHWUDWLRQ� RI�:DWHUV� IURP� WKH�%UD]LO�0DOYLQDV�&RQIOXHQFH�5HJLRQ�$ORQJ� WKH�6RXWK�$PHULFDQ�&RQWLQHQWDO�6KHOI�XS�WR���R 6´��$QDLV�GD�$FDGHPLD�%UDVLOHLUD�GH�&LrQFLDV������6XSO������������'HDQ��5�*��H 'DOU\PSOH��5�$��������� ³:DWHU�:DYH�0HFKDQLFV� IRU�(QJLQHHUV�DQG�6FLHQWLVWV´��$GYDQFHG�6HULHV�RQ�2FHDQ�(QJLQHHULQJ��9RO�����:RUOG�6FLHQWLILF������SS�0HOR� )R�� (��� ������ ³3,&�6XO�� 3URJUDPD� GH� ,QIRUPDomR� &RVWHLUD� � RQ� OLQH´��5HVXPRV�GR��R 6HPLQiULR�VREUH�2QGDV�H�0DUpV�2FHkQLFDV�� ,($30��$UUDLDO�GR�&DER��5-�3KLOOLSV��2�0���������³7KH�'\QDPLFV�RI�WKH�8SSHU�2FHDQ´��&DPEULGJH�8QLYHUVLW\�3UHVV������SS�3LPHQWD�� )�0��� ������ ³(VWXGR� 1XPpULFR� GD� ,QIOXrQFLD� GD� 'HVFDUJD� )OXYLDO� H�GRV� 9HQWRV� VREUH� D� 'LQkPLFD� GD� 3OXPD GR� 5LR� GD� 3UDWD´�� 'LVV�� 0�6F��,QVWLWXWR�2FHDQRJUiILFR��8QLYHUVLGDGH�GH�6mR�3DXOR�