Siemens 2013 Annual Report Download - page 218

92 A. To our Shareholders
117 B. Corporate Governance 155 C. Combined Management Report
156 C. Business and economic environment
173 C. Financial performance system
179 C. Results of operations
192 C. Financial position
204 C. Net assets position
207 C. Overall assessment of the economic position
209 C. Subsequent events
210 C. Sustainability
227 C. Report on expected developments and
associated material opportunities and risks

Our systematic efforts to achieve customer satisfaction have
been recognized by outside institutions. In , for example,
Siemens ranked in a leading position in Customer Relationship
Management in the “Industrial Conglomerates” category of the
SAM Dow Jones Sustainability Index for the fourth consecutive
year. In addition, our customer management is also considered
exemplary in the academic world – a position we strengthened
over the past fiscal year through academic collaborations with
Columbia University, University of Houston, Darden University
of Virginia, HEC Paris and Technical University of Munich,
among others. We believe that such collaborations position
Siemens to compete effectively for sales talents. They also in-
crease our social engagement in the form of training for young
people in multiple countries.
C.. Environmental Portfolio
Indicators 
Year ended September ,
 
Revenue generated by the
Siemens Environmental Portfolio
(in billions of €) 32.3 32.7
Accumulated annual customer
reductions of carbon dioxide emissions
generated by elements from the
Siemens Environmental Portfolio
(in millions of metric tons) 377 333
1 Continuing operations.
Our Environmental Portfolio serves as an example of how we
strive to align our business activities with the aforementioned
megatrends, in this case climate change. The Environmental
Portfolio consists of products, systems, solutions and services
(Environmental Portfolio elements) that reduce negative im-
pacts on the environment and emissions of carbon dioxide and
other greenhouse gases (defined together in the following as
carbon dioxide emissions) responsible for climate change.
In addition to its environmental benefits, our Environmental
Portfolio enables us to compete successfully in attractive mar-
kets and generate profitable growth. In fiscal , revenue
from continuing operations from the Environmental Portfolio
amounted to €. billion, which accounted for % of our rev-
enue from continuing operations in this fiscal year. This reve-
nue includes revenue from newly developed and additionally
qualified elements, and excludes revenue from elements that
no longer fulfill our qualifications.
In fiscal , we set ourselves a revenue target for the Envi-
ronmental Portfolio within the One Siemens framework: to ex-
ceed € billion in revenue from the Environmental Portfolio
by the end of fiscal . Due to recent and ongoing portfolio
changes it is no longer likely that we will achieve this target
purely with our own operations by the end of fiscal .
Siemens’ strategic focus on technologies for energy efficiency
and climate and environmental protection will nevertheless re-
main in place. For fiscal year , more than two-thirds of the
revenue from our Environmental Portfolio were already gener-
ated with products and solutions for energy efficiency.
With our Environmental Portfolio, we intend, among other
things, to help our customers reduce their carbon dioxide foot-
print, cut their energy costs and improve their profitability
through an increase in productivity. Taking together all ele-
ments of the Environmental Portfolio that were installed at
customer locations since the beginning of fiscal  and re-
main in use today, we have reduced customer carbon dioxide
emissions by  million metric tons in fiscal , which is the
equivalent of the following twelve cities’ combined yearly
emissions: Berlin, Cape Town, London, Los Angeles, Melbourne,
Mexico City, Moscow, New York City, São Paulo, Seoul, Singa-
pore and Tokyo.
C... REPORTING PRINCIPLES
We report the revenue from our Environmental Portfolio and
annual customer reductions of carbon dioxide emissions gen-
erated by it in accordance with internal regulations defined in
our Environmental Portfolio Guideline. This Guideline is based
on the Reporting Principles of the Greenhouse Gas Protocol
Corporate Accounting and Reporting Standard, revised edition,
and the Greenhouse Gas Protocol for Project Accounting. Both
of these standards are published by the World Resources Insti-
tute (WRI) and the World Business Council for Sustainable
Development (WBCSD).
The principles underlying these standards are relevance, com-
pleteness, consistency, transparency, accuracy and conser-
vativeness. As there are currently no accepted international
standards for identification and reporting of so-called green
products, we are engaging in standardization activities with
external organizations. The revenue generated by the Environ-
mental Portfolio is recognized in accordance with revenue rec-
ognition policies as described in NOTE  in D. NOTES TO
CONSOLIDATED FINANCIAL STATEMENTS.
C... GOVERNANCE –
PROCESSES AND DEFINITIONS
The qualification of Environmental Portfolio elements as well
as their respective reporting is based on defined processes and
criteria. In principle, any product, system, solution or service
of Siemens’ continuing operations may qualify for the Environ-
mental Portfolio. The business portfolio of Siemens’ continu-
ing operations is reviewed annually regarding the qualification