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part of it:The 2012 PwC China, Hong Kong, Singapore and Taiwan Corporate Responsibility report

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Bringing our communities together

2 Corporate Responsibility Report 2012

This report is an update document following our extensive FY2011 Corporate Responsibility (CR) report. In the interests of transparency and maintaining a high level of reporting, we’ve continued to report on the KPIs referenced in our FY2011 report, as well as assessing our performance against our FY2012 key priorities for CR.

To ensure we’re responding to what our stakeholders value, we again conducted a stakeholder review . The results from this year’s stakeholder engagement were very much in line with that of FY2011, and are represented in the materiality index below.

About this report

Materiality of issues to business

Imp

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of

issu

es t

o ex

tern

al s

take

hold

ers

Environmental strategy

Carbon footprint

Paper consumption

Community investment

Employee volunteering

Recycling

Employee security & wellbeing Talent attraction & retention

Training & development

Engaging in formal stakeholder dialogue

Embedding sustainability into client services

Transparency in our reporting

People engagement in CR activities

Maintaining exceptional ethical standards

Data security

Anti-corruption, anti-bribery measures

CR strategy & targets

Client satisfaction

Water useDiversity & Inclusion

Stakeholders engaged

Internal: Staff and partners - 141

External: NGOs, Clients,Media, Suppliers,CPA - 40

Corporate Responsibility Report 2012 3

I’m pleased to once again be confirming our commitment to our Corporate Responsibility (CR) strategy and programmes. The successes we have had in our CR programme over the last year have been widely recognised, including an increase in recognition from our own people.

Across PwC China, Hong Kong, Singapore and Taiwan (CaTSH), 70% of our people are satisfied that PwC is ‘responding appropriately to address the impact of our business activities on the environment’, and 82% are ‘satisfied with the actions PwC is taking to be socially responsible’. We exceeded our target of engaging 20% of our people in the firm’s volunteer programme, continued to build on the support we provide to charities and continued to measure and report on our carbon footprint (and find ways to minimise it).

Overall, our CR programme is always focusing on giving our people a feeling of contributing to society, and being a responsible leader in our profession.

This report comes as the PwC network refreshes our global approach to CR, through linking widely-accepted CR best practices to our core business strategy. Our CR approach operates on two central principles:

• Do the right thing. This means playing our part in responsible business issues that are central to our business – from the quality of our services and the diversity of our people, to our engagement with communities and our environmental footprint.

• Be a catalyst for change. This is about using our skills, voice, and relationships to work with others and influence activities that make a difference, create change and have a lasting impact on the world around us.

All of us at PwC China, Hong Kong, Singapore and Taiwan are committed to our global CR strategy and to applying it in a relevant way for our local realities. As the strategy develops and is put into practice, we will continue to keep our stakeholders up to date, giving all of us a chance to be part of it.

Message from the Chairman

Silas Yang PwC CaTSH Executive Chairman


Our corporate responsibility performanceThis table represents our progress against priorities we identified for 2012 and defines our key priorities moving forward.

Quadrant FY 2012 Priorities FY 2012 Update FY 2013 Key Priorities

Responsible business

Continue to improve CR reporting standards

We’ve increased the number of stakeholders included in our stakeholder dialogues, and reported our FY2012 KPIs against FY2011.

• Showcase examples where PwC is active on relevant thought leadership and external initiatives locally and globally

Continue to link relevant UN Global Compact principles to our CR and business strategy

We linked our activities to UNGC principles of anti-bribery and corruption as well as social and environmental issues. These focused on our own performance as well as raising awareness externally.

• Start the discussion around assessing our services for sustainability related risks

Showcase examples where PwC is active on thought leadership and debate in broad CR issues locally and globally

One example is the China Greentech report. Staff and partners also utilised various speaking opportunities on CR, ethics and sustainability related topics.

• Showcase our internal CR efforts to our clients and external stakeholders

Diversity & inclusion

Identify and implement CR related opportunities for talent management and responsible leadership programmes

A community day was held for the Shanghai participants of Genesis Park, PwC's flagship leadership programme.

• Support PwC Diversity & Inclusion efforts as relevant locally

Support the expansion of well-being initiatives within PwC

CR representatives contributed to relevant committees for staff well-being.

• Build CR and responsible leadership into talent management programme

Integrate deeper CR themes into the graduate recruitment process

CR elements were included in campus fairs in FY2012. Offerees are also invited to join PwC CR activities.

• Continue to support well-being initiatives

• Further integrate CR elements into graduate recruitment process

Community Increase our volunteer participation rate to 20%

22.7% of our people participated across CaTSH.

• Maintain volunteer participation rate at above 20% in CaTSH

Launch a formal skilled volunteering programme for our staff and partners

The programme was launched and projects completed involved 57 staff, but challenges included finding suitable, quality opportunities for larger numbers of volunteers.

• Sharpen focus on skilled volunteering and capacity building

Continue to provide support (including professional services) to our charity partners

One large scale capacity building project was carried out for a key charity partner. We also maintained close links with our charity partners to have the greatest impact for their beneficiaries.

• Keep our external stakeholders well informed of our community activities

Environmental stewardship

Drive carbon reductions by enhancing the understanding of environmental issues and implement possible carbon reduction initiatives

5% overall reduction in carbon emissions was achieved, including a 16% reduction in air travel emissions, though there are factors beyond the CR programme efforts that may have contributed to this.

• Enhance the understanding of environmental issues and implement carbon reduction initiatives where feasible

Raise awareness and encourage actions through people's engagement in green initiatives

The percentage of staff satisfied with the way the firm addresses it’s environmental impact has increased to 70% in FY2012, up from 64% in FY2011. In FY2012 57% of all volunteers in China and Hong Kong participated in environmental activities.

• Continue to raise awareness and engagement through green initiatives. At least 50% of overall volunteering in PwC China and Hong Kong should be environment related.

Identify and develop opportunities to engage the student community in environmental initiatives to encourage more green action

Projects with Hong Kong University of Science and Technology, and AIESEC HK, aimed at raising awareness and environmental action.

• Seek to engage our communities in environmental initiatives to encourage more green action


CR KPIs for FY2012

Quadrant KPI Unit FY2011 FY2012

Responsible business

Compliance Completion of annual compliance confirmation % 100 100

Diversity & Inclusion

Workforce Partners No. of Partners 583 641

Staff No. of Staff 13,775 15,826

Diversity & Inclusion Female partners % Female partners 29 31

Gender ratio of newly admitted partners % Female partners 36 31

Employee satisfaction “I would recommend PwC as a great place to work” % favourable 49 63

“I am proud to work at PwC” % favourable 60 72

Learning & Development Hours in training time for staff & partners through Learning and Development

Hours 1,570,068 1,875,652

Average number of training hours per person Hours 109 96

Environmental stewardship

Energy consumption Indirect energy consumption kiloWatthours 19,292,868^ 19,361,932^

Air travel Total distance travelled km 158,402,376^ 138,225,761^

Purchased paper Total purchased paper tonnes 728^ 813^

People perception “I am satisfied that PwC is responding appropriately to address the impact of our business activities on the environment”

% favourable 64 70

Community

Giving Charitable donations by staff and partners US$ 337,655 847,304

Charitable donations from PwC US$ 650,730 543,920*

Volunteering Participation in volunteering events No. of staff & partners

2,528 4,416

Time spent by partners and staff in volunteering events Hours 14,000 23,563

People perception “I am satisfied with the actions PwC is taking to be socially responsible”

% favourable 74 82

(^) Please refer to page 14*While our overall firm giving has reduced, the large majority of donations come from our Partners, our figure which noticeably increased in FY2012.


Globally, we recognise that today’s most important business opportunities lie in society’s biggest challenges. These range from helping businesses become more transparent, trusted and fair, to the management of increasingly scarce natural resources. That’s why we use our skills to act as a catalyst for wider change in business and society, including creating services and solutions that help companies become more sustainable, and collaborating closely with clients, regulators and other organisations to develop reporting standards and sustainable practices.

Responsible Business

Delivering the PwC Experience through Corporate Responsibility

Making corporate responsibility central to how we do business is about more than “doing the right thing.” We need to invest in business approaches which create shared value for society by enabling the economy to thrive and to bring positive change to the environment. Our ambition is to make this thinking a part of our everyday corporate culture by creating the value our people and our clients are looking for.

Working directly with future talent

PwC China has agreed to work with the Shanghai National Accounting Institute on it’s first Masters Degree in Audit and Accounting. PwC will be running a three credit point course, with six PwC partners committing approximately 400 hours. As well as delivering the training, partners will also each mentor two students, and the students will be offered internship opportunities in PwC. The course, and PwC’s participation in developing it, is aimed at helping to nurture and develop top talent in the accounting and audit profession in China.

6 PwC partners training and mentoring

approximately 400 hours


A signatory to the United Nations Global Compact

Our commitment to being a responsible corporate citizen led PwC to be among the first corporate signatories of the United Nations Global Compact (UNGC). We adhere to its principles on human rights, labour standards, the environment and anti-corruption. Every year PwC International submits a full report on network CR strategy and progress, which references our FY2011 CaTSH CR report.

Founding member of CSR Asia’s Community Investment Roundtable

PwC is a founding member of the Community Investment Roundtable (CIRT), a group which allows companies in Asia to play a key role in creating positive change for communities, through skills, innovation, advocacy and partnerships. With its network of members and experts, the CIRT plays an active role in sharing best practices in terms of measuring not only inputs and outputs, but outcomes and eventually impacts of community investment. This all helps improve the impact of community programmes.

PwC China took up the Corporate Chair position of the CIRT in December 2012.

Ethics and Compliance Officer Association Asia Symposium

In January 2012 PwC China hosted the 2012 Ethics and Compliance Officer Association (ECOA) Asia Symposium. This was attended by PwC’s Global Ethics Leader, as well as PwC China ethics leaders. The symposium brought together 38 ethics and compliance practitioners from a wide spectrum of industries from around China and Southeast Asia. The group had a productive dialogue on issues including approaches to managing the integration of ethics, compliance, corporate governance, and social responsibility.

Following the meeting, a special interest group was formed and has since met three times. The conference will run in Asia again in 2013.

Providing sustainability and climate change services to our clients

Reporting on social and environmental issues continues to be of importance as consumers, investors and other stakeholders increasingly demand greater transparency in all aspects of doing business. In addition to new costs associated with legislation and sustainability risks, significant new opportunities are emerging for many sectors and companies, particularly as markets are created for lower-carbon and more sustainable goods and services. Through the services of our Sustainability and Climate Change (S&CC) team, we’re able to provide our clients with sustainability-related services to help them deal with these sustainability challenges.


A community addition to Shanghai’s Genesis Park

Of the three cities selected to host the Genesis Park 2012 Leadership Programme, Shanghai was the Asia Pacific host city. Some 42 senior managers and directors from across our global network completed the ten week training programme, which transforms our high potential talent into future leaders.

A highlight of Shanghai’s Genesis Park programme was the opportunity for participants to get involved with the China firm’s local CR activities, helping to deepen their understanding of local society. A group of 43 migrant children from one of PwC’s key charity partners, Compassion for Migrant Children (now renamed INCLUDED), were invited to our Shanghai office for an afternoon of activities arranged by the Genesis Park participants, giving them an opportunity to see the types of careers they could aim for in the future.

We believe in creating value for our people and our clients by being more diverse and inclusive, and promoting a healthy work-life balance. Diversity and inclusion is an important part of our global strategy. Locally, the main drive will be around gender and generational diversity.

People – Diversity and inclusion

Singapore WeValueYou Week

April’s WeValueYou Week included activities like giving coffee vouchers to all staff, to help our people build relationships with their teams at the Connect@PwC café, massage sessions from the Singapore Association of the Visually Handicapped, health-screenings, a lunchtime talk on work-life harmony, and a charity bazaar.

There were two panel discussions, one covering the PwC Experience from a PwC Alumni perspective, and the other a panel of female colleagues sharing their experiences juggling demanding work and personal lives.

The week ended with the PwC Cup, where 700 partners and staff formed teams within coaching groups to join an amazing race around the CBD.


Engaging with graduates – CR booths at Graduate Recruitment fairs

In September 2011, over 5,500 students visited PwC graduate recruitment fairs in three locations. In line with our commitment to integrate CR into the Graduate Recruitment process, there was a CR booth at all graduate recruitment fairs locations in China and Hong Kong.

Through the year, we also involved students from our target universities in our volunteer programmes, where they were working beside their future PwC colleagues.

Global mobility

We continue to have one of the largest global mobility programmes in our profession, which allows us to offer our clients, wherever they are in the world, the right expertise at the right time. It also develops the skills and international perspective of our people. During 2012, 168 people from China, Hong Kong, Taiwan and Singapore were deployed internationally on short-term and long-term transfers or assignments. We have welcomed 235 people into PwC CaTSH from PwC network firms around the world. An additional 70 people were deployed within the China, Hong Kong, Singapore and Taiwan firms.

The Employee Assistance Programme

The Employee Assistance Programme (EAP) has been in place since July 2011. In FY2012, 129 of our people in PwC China and Hong Kong made use of EAP services, including telephone discussions and face-to-face counselling sessions. We also ran 12 EAP lunchtime talks in different offices, covering topics like positive thinking, stress management, interpersonal relationships and child engagement. A total of 277 participants joined these sessions.

Family Day

The annual We Care Family Day is one of our most popular firm traditions, celebrating the start of Chinese New Year.

On 20 January 2012, more than 2,100 PwC people and their children joined events in Beijing, Guangzhou, Hong Kong, Shanghai and Shenzhen. Family friendly entertainment included games, clowns, magicians, balloon twisting, arts and craft, workshops and mascots.

Celebrating International Women’s Day in China and Hong Kong

Putting gender equality into action, our women (and men) spent time volunteering in their local community to mark International Women’s Day 2012. More than 120 people from Shanghai, Hong Kong and Beijing joined volunteer activities, including working in centres for youth with disabilities, at orphanages and hospitals for children recovering from life-saving surgery, and answering phones at a hotline service for the elderly.

Staff Appreciation and Recognition (StAR) Programme

FY2012 – 32,957 vouchers awarded in China and Hong Kong

HK$15,900 worth of StAR vouchers credited to PwC Foundation18.9 tonnes of carbon offsets claimed

Vouchers(s)$3 vouchers a person, 90 vouchers a day.


PwC firms create value in their local communities by contributing their time, skills and resources to a variety of activities. In CaTSH our primary focus is on education and capacity building, helping people to better develop the skills they need.

In FY2012

• 22% of people across CaTSH took part in our volunteer programme, bringing teams together from across the firm and putting them in touch with the communities they live and work in.

• We created and implemented our volunteer database, where our people in China and Hong Kong can find out about and sign up for volunteer opportunities. We also launched our CR champion network in China and Hong Kong. This group of passionate staff and partners are helping us spread our CR message and promote our programmes across the business.

• Building on from the success of the PwC Taiwan Non Profit Organisation capacity building program, China, Hong Kong and Singapore have also started a skilled volunteering programme. Our people can use their core professional skills when volunteering with community organisations, including financial literacy, project management or English language teaching. 57 volunteers used their professional skills to help NGO’s during FY2012.

• We started a major capacity building project, providing Half the Sky with Strategic People Planning services to help them transform their organisation, in line with their operational development goals for the next five years.

Community

AIESEC Hong Kong Sustainability Embedded project

In 2011, PwC Hong Kong was awarded the AIESEC National Partner Excellence Award for Organisation Sustainability for our “Sustainability Embedded” project. The objective was to help AIESEC become a more responsible organisation, one that cares about its people, the society and environment and promotes the concept of responsible citizenship to students worldwide. The CR team worked with our Advisory and Sustainability & Climate Change teams to deliver a training programme that guided AIESEC Hong Kong through developing a full-scale sustainability strategy.

Employee volunteeringIn FY2012:

4,416 people committed 23,563 volunteer hours


Community

Community case study: Half the Sky partnershipThe PwC Foundation has been a proud sponsor of Half the Sky since 2008. Over this time, we’ve seen and supported the growth of Half the Sky from strength to strength.

In particular, the PwC Foundation sponsors Half the Sky’s Youth Services Programme (YSP), a programme providing educational and vocational opportunities for children who’ve grown up in orphanages, and for whom options are otherwise limited. As well as funding, in cities where both PwC and Half the Sky have a physical presence, PwC volunteers spend time with programme participants, helping build their confidence and sharing life skills. Our volunteers also spend time with some of Half the Sky’s tiniest beneficiaries, in Half the Sky affiliated orphanages.

At the invitation of the Chinese Government, over the next five years Half the Sky is transforming from a care provider in 52 orphanages, to an organisation that will provide training to all orphanages in China. This is a huge vote of confidence from the government. PwC is proud to be supporting Half the Sky in its transformation and strengthening its capacity to perform by providing Strategic People Planning services.

Half the Sky Founder and CEO Jenny Bowen is grateful for PwC’s commitment to improving the lives of orphaned children in China.

“PwC is an extremely valuable member of Half the Sky’s family. Not only has PwC provided crucial support for our transformative programs for orphaned children, it has also provided the expertise we need to transform into an organisation that will provide training and mentoring for caregivers in every orphanage in China.”

Jenny Bowen Half the Sky Founder and CEO

PwC Singapore offers time off for volunteering initiatives, while PwC China and Hong Kong provide 20 hours of volunteer leave a year per person


PwC Hong Kong – TREATS Balloon twisting

More than 110 volunteers from PwC Hong Kong joined nine Jolly Balloons Go Go Go events in FY2012, organised by PwC’s charity partner, TREATS. After the volunteers completed their own balloon twisting workshops, they shared their new skills with disadvantaged children. For the second year running, PwC was awarded two prizes, one for having the biggest team, and one for raising the most funds.

Bare Your Sole

320 PwC Singapore partners, staff and their families joined the June 2012 Bare Your Soles barefoot walk, helping Habitat for Humanity. The initiative supports children and adults living in dire conditions, raising funds for projects that improve these people’s living conditions by building homes and fighting poverty.

Warming hearts with cool heads

On 12 August 2011, PwC Singapore held a Hair for Hope satellite event, where 16 staff and their family and friends shaved their heads to raise funds for the Children’s Cancer Foundation. Led by two tax partners, and including two brave ladies they raised S$38,428.

Overseas Community Programme

Now in its sixth year, PwC Singapore’s Overseas Community Programme saw three teams of volunteers give their time in Vietnam, Laos and Cambodia. The programme is supported by our Singapore colleagues who raise extra funds.

Registered in Hong Kong in 2006, the PwC Foundation provides a channel for our staff and partners to make donations, as well as supporting volunteer and fundraising events led by PwC people. US$1.39 million was donated through the PwC Foundation and the China, Hong Kong, Singapore and Taiwan firms in FY2012.

We’re continuing to improve our reporting around community impact, and through our work with the Community Investment Roundtable (see page 7) we’re always improving our performance. We’re focusing on finding effective ways to measure the impact of our skilled based volunteering, where we have the most to contribute.

was donated through the PwC Foundation and the China, Hong Kong, Singapore and Taiwan firms in FY2012.

$1.39mUSD

Did you know?


PwC’s Forest

In 2012, more than 1,000 of our people planted over 25,000 trees across China, Hong Kong and Taiwan, with the help of partner organisations. These trees will remove around 900 tonnes of carbon dioxide on an annual basis, and as they continue to grow, so will their impact.

Started in March 2011 to promote the concept of green thinking among our people, PwC’s Forest is now one of our flagship environmental initiatives.

YMCA environmental workshops

We’re engaging local communities to become more environmentally sustainable, and started a pilot environmental education program with YMCA. Some 24 volunteers helped lead three environmental workshops at the YMCA Tung Chung Centre for more than 40 kids.

Coastal cleanup

Volunteers from PwC China and Hong Kong took part in coastal clean-up events, helping protect our oceans and marine life. 99 volunteers visited two beaches and collected approximately 200kg of waste. While the immediate impact is having a cleaner coastline, in the long-term our volunteers will also share their environmental experiences with others in their everyday life.

Rural School Volunteer Programme

In the Rural School Volunteer Programme (RSVP), teams of around ten volunteers work together to plan and deliver week long courses to schools in rural China. The aim is to share new ideas, inspire students to learn more, and build relationships. In FY2012, ten RSVP trips were arranged with more than 100 volunteers across PwC China and Hong Kong contributing 4,000 hours. A total of 850 classes were delivered to 2,000 students. Our volunteers continue to support the children and teachers at the schools based on the relationships that they have built.

Not-for-profit financial capacity support plan

For the fourth year running, PwC Taiwan ran their volunteer-based programme helping local NPOs strengthen their financial capacity systems, working in partnership with the Social Enterprise Development Association. In 2012, 23 volunteers ran workshops and built financial literacy capacity with 13 NPOs.


Environmental Stewardship

The GHG data in the table above and environmental related data identified with a (^) throughout this report, have been subjected to certain limited procedures by the Firm’s Sustainability & Climate Change assurance practitioners, who were not involved with the preparation of this report. Nothing has come to their attention that causes them to believe that the GHG data and environmental related data is not properly prepared, in all material respects, in accordance with the Reporting Criteria as set out on page 17.

Globally, PwC’s approach to environmental stewardship is about creating value for our business and our communities by respecting the environment and understanding and reducing our impact on the world around us.

We regularly measure and minimise our environmental impact, to drive people engagement and increase their understanding of the most urgent environmental issues. These are the key priorities of our Think Green – Lead the Change environmental sustainability strategy.

Carbon footprint This is the second year we’ve reported our Greenhouse Gas (GHG) inventory for China, Hong Kong, Singapore and Taiwan. The data below shows annual emissions by source as well as a comparison year on year. The data has been reviewed by an independent internal assurance team as described below.

We measure and monitor different emission sources, but for the purpose of the report, we only present the most significant – business travel (air travel, car travel and overnight accommodation), electricity consumption and paper consumption.

FY2012

CO2 Emission (t) China Hong Kong Singapore Taiwan TOTAL

Energy Consumption 8,644 4,444 978 2,139 16,205

Purchased Paper 1,714 1,101 315 295 3,425

Overnight Accommodation 592 273 572 845 2,282

Air Travel 8,822 3,519 1,754 2,012 16,108

Car Travel 2,540 276 845 201 3,861

Total per territory 22,312 9,612 4,465 5,492 41,881


Office energy consumption

Our total consumption in FY2012 was 19,361,932^ kWh, or 39% of our overall carbon footprint.

During the period of July 2011 to June 2012, we had 24 office locations across China, Hong Kong, Singapore and Taiwan. In FY2012 we reduced our office energy consumption by 1%, mainly from office moves and renovations in the past year. The lower levels of consumption are mainly from the Hong Kong and Singapore offices.

Paper consumption

We’re continuing to make changes to reduce our paper consumption per employee, through replacing printers and copiers with multifunctional machines with standard double-sided copying, scanning and printing, as well as implementing a global policy to use only FSC certified printing paper. In FY2012 we purchased 813^ tons of print and copier paper, and other stationery paper materials, which is 8% of our carbon footprint.

Air travel

Air travel is an important and essential part of our business, helping maintain relationships with our clients so we can deliver the services and create the value they are looking for. In FY2012 we travelled 138,225,761^ km, accounting for 39% of our overall carbon footprint.

We’re continuing to monitor business flights, and look at alternative options, such as video conference systems. We’ve had a significant 16% reduction in comparison to FY2011, but acknowledge other non CR factors may have had an impact on flight statistics.

Car travel

Car travel accounts for 9% of our carbon footprint, mainly from taxi travel. We also have company cars and leased shuttle buses in some locations which are included. Our office locations are mostly located in city centre’s, with easy access to public transportation, making it easy for our employees and clients to make use of it.

20,000

16,000

12,000

8,000

4,000

0

9%

39%

8% 5%

39%

Energy Consumption

Purchased Paper

Overnight Accommodation

Air Travel Car Travel

16,309* 16,205

3,4253,054

2,2821,872

19,253*

16,108

3,861

3,581*

FY2012 Aggregated total emissions by source for China, Hong Kong, Singapore and Taiwan

Total emissions – FY2011 vs FY2012 comparison

* refer to page 16 “Restatements for FY2011”


During the FY2011 and FY2012 dialogues, our stakeholders listed water use as a key concern. We’re aware of water scarcity issues in our region and have started two educational projects. The first is with Friends of the Earth, and is aimed at raising awareness among our own people about water conservation. The second project is being conducted together with the Hong Kong University of Science and Technology, encouraging a greater awareness of water scarcity among students.

Our own use of water is minimal and as such is not covered in our environmental reporting.

LEED certified buildings

Five of our offices are LEED certified – four are Gold and one is Silver Standard, and two others are in buildings with Gold LEED certification. With every new or renovated office we make every effort to follow our Environmental Guiding Principles.

Green Week & Earth Hour

Green Week runs annually across PwC China and Hong Kong. This year we ran a five-day environmental campaign, explaining how we impact our environment, and outlining our approach to minimising this. The Green Week campaign ran just prior to Earth Hour, with the final message being about how we can all make a difference by joining global efforts to minimise the impacts of climate change. We had approximately 440 people joining the campaign.

Plans for future – carbon efficiency

Although our industry and direct operations require only a limited use of natural resources, with relatively stable levels of GHG emissions, we’re aware of the need to measure and to minimise the impact we make. Until we’re ready to develop a comprehensive carbon management strategy our ambition is to aim for carbon efficiency. Conscious of financial constraints and various operational limitations, we continue to look for ways to achieve this objective.

Environmental Guiding Principles

We’re committed to conducting our business in an environmentally sustainable manner. Recognising the significance of the global threat posed by climate change we want to play our role in mitigating the environmental impacts. The Environmental Guiding Principles lay out the values and standards we want to follow across our firm, and throughout our operations.

Restatements for FY2011

FY2011

CO2 Emission (t) China Hong Kong Singapore Taiwan TOTAL

Energy Consumption 8,385 4,592* 1,257* 2,075 16,309

Purchased Paper 1,533 968 279 274 3,054

Overnight Accommodation 671 217 251 733 1,872

Air Travel 12,078* 3,224 1,823 2,128 19,253

Car Travel 2,323 235 819 204* 3,581

Total per territory 24,990 9,236 4,429 5,414 44,069

Certain prior year emissions marked with a (*) in the table above have been restated as a result of new information.


Carbon Footprint Reporting CriteriaOur carbon footprint is reported in accordance with the World Resources Institute and the World Business Council for Sustainable Development Greenhouse Gas Protocol (2004, Revised Edition).

Scope Emission Source CN HK Singapore Taiwan

Scope 1 Company cars - - -

Scope 2 Purchased electricity

Scope 3 Purchased paper

Overnight accommodation

Air travel

Taxi travel

Leased shuttle bus - - -

Electricity transmission losses

The reporting period covers the twelve month period July 2011 to June 2012.

We have defined all permanent premises as all those that PwC occupies for the purpose of conducting PwC activities, including all PwC owned and managed leased assets within our operational control.

• Direct emissions (scope 1) – PwC measures and reports emissions resulting from the use of company cars.

• Energy indirect emissions (scope 2) – PwC measures and reports scope 2 emissions which includes all electricity consumed within offices deemed to be within its operational control.

• Other indirect emissions (scope 3) – PwC measures and reports scope 3 emissions relating to paper, business related travel, electricity transmissions and distribution losses.

The scope of our carbon footprint calculations covers the following 24 PwC China & Hong Kong, Singapore and Taiwan locations:

Beijing, Chengdu, Chongqing, Dalian, Guangzhou, Hong Kong, Hangzhou, Macau, Ningbo, Nanjing, Qingdao, Shanghai, Shenzhen, Suzhou, Tianjin, Xiamen, Xi’an, Singapore, Taipei, Chungli, Hsinchu, Taichung, Tainan and Kaohsiung.

Sources and calculation methods

PwC selected the calculation-based quantification methodology as there are appropriate emission factor guidelines that have been released by authoritative sources covering PwC’s activities.

• 2012 Guidelines to Defra / DECC’s GHG Conversion Factors for Company Reporting

• Environmental Defense Fund (EDF) Paper Calculator

• China Electricity Grid Emission Factor 2011 - Ministry of Environmental Protection of the People’s Republic of China, National Development and Reform Commission

• Guidelines to Account for and Report to GHG Emissions and Removals in HK 2010

• WWF Hong Kong Carbon Accounting Manual 2009

• Singapore Ministry of the Environment and Water Resources - Key Environmental Statistics

Limitations

Shared base building electricity consumption represents electricity consumption in the common areas shared by all tenants in the buildings where PwC operates. PwC’s share of common electricity consumption is based on data controlled by the building owners; which we are unable to independently obtain or verify at this point. We will continue to look for ways to improve our data collection in the future.

© 2013 PwC. All rights reserved. PwC refers to the PwC network and/or one or more of its member firms, each of which is a separate legal entity. Please see www.pwc.com/structure for further details. HK 20130115-2-C1

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