Independent review of Siemens' Environmental Portfolio

PwC performs limited assurance engagement regarding Siemens'Environmental Portfolio 2007 / Review of relevant systems, processes and documents / Conclusion with no reservations

London, (PresseBox) - With the publication of the 4th IPCC Assessment report, climate change has become firmly entrenched in public awareness. Information regarding CO2 emissions is no longer of interest to just a few eco-activists but is required by stakeholders across the board: financial markets, consumers, NGOs, and governments all assess companies at least partly on the basis of such information.

The current focus of policy-makers rests with companies reporting their own emissions and setting individual emission reduction targets. But other stakeholders expect more comprehensive information about the CO2 balance, notably the emissions intensity of products or their ability to reduce emissions compared with similar products.

Against this backdrop Siemens AG has created a "Siemens Environmental Portfolio", consisting of selected products and solutions from its complete existing portfolio. A definable quantity of CO2 emissions can be saved annually by customers using products from the Environmental Portfolio.

"An external independent review enhances the credibility of Siemens' statements.
Moreover, it helps companies to identify further potential for optimisation of processes and structures and enhances the companies' steering capabilities ", defines PwC's global Sustainable Business Solutions partner Thomas Scheiwiller.

Siemens asked PwC to perform a limited assurance engagement on selected data regarding the environmental portfolio 2007. As reported in the Siemens publication
"Energy Efficiency" the PwC engagement focused on the application of the reporting criteria that have been agreed by the Initiative Greenhouse Protocol (set out in the publication "A Corporate Accounting and Reporting Standard - Revised Edition").

PwC conducted its work in accordance with the International Standard on Assurance Engagements (ISAE) 3000. Within the scope of this engagement, PwC looked into the following:
- Application of the reporting criteria: we inspected the documentation of systems, processes and documents of the environmental portfolio.
- Baseline: we evaluated the procedures and systems used to determine the reference values.
- Environmental Portfolio effect: we inspected the figures for saved CO2 emissions and revenues from the sale of Environmental Portfolio products, and we checked the consistent application of baselines and reference values and compared the percentage of Environmental Portfolio revenues with total revenues.

Based on our analysis we came to a conclusion without reservations. For further details of our engagement as well as our conclusions and recommendations, please refer to Siemens' Energy Efficiency brochure. For further information regarding the experience and knowledge of PwC in sustainability issues and especially any projects regarding the evaluation of CO2 emissions, please contact Nicole Susann Roschker.

About us

PricewaterhouseCoopers is one of the leading auditing and consulting services networks worldwide and draws on the knowledge and skills of about 146,000 employees in 150 countries. PricewaterhouseCoopers is the leader in providing sustainable business solutions. We help clients to improve social, environmental and economic performance and create long-term business value, through delivering strategy, governance, performance management, reporting solutions, monitoring and assurance as well as transactions support. PricewaterhouseCoopers has over 700 dedicated sustainability experts in more than 45 countries worldwide.

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