Siemens 2013 Annual Report Download - page 220

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

by milestones or based on estimated construction periods.
This may differ from the timing of revenue recognition. Fur-
thermore, we subject revenue from our Environmental Portfo-
lio and the reduction of our customers’ annual carbon dioxide
emissions to internal documentation and review requirements
that are less sophisticated than those applicable to our finan-
cial information. We may change our policies for recognizing
revenue from our Environmental Portfolio and the reduction of
our customers’ annual carbon dioxide emissions in the future
without prior notice.
As in previous years, we again commissioned an independent
accounting firm with a limited assurance engagement to re-
view the reported results for our Environmental Portfolio for
fiscal . This review was conducted in accordance with the
International Standard on Assurance Engagements (ISAE)
, Assurance Engagements Other than Audits or Reviews
of Historical Financial Information. Nothing came to the atten-
tion of the independent accounting firm that would cause
them to believe that the section Siemens Environmental Port-
folio of the Environmental Portfolio Report – containing the
revenue generated by the Environmental Portfolio and the an-
nual customer reduction of carbon dioxide emissions attribut-
able to it – has not been prepared, in all material respects, in
accordance with the defined reporting principles.
C.. Environmental performance
Indicators 
Year ended September ,
 
Energy efficiency improvement
compared to baseline in fiscal  4% 8%
Waste efficiency improvement
compared to baseline in fiscal  4% 7%
Waste for disposal reduction
compared to baseline in fiscal  7% 8%
Carbon dioxide emission efficiency
improvement compared to baseline
in fiscal  13% 13%
1 Continuing operations.
C... ENVIRONMENTAL PROTECTION
To meet today ’s global ecological challenges responsibly,
Siemens has a comprehensive EHS (Environmental Protection,
Health Management and Safety) management system. The
process requirements of this management system help our op-
erating units comply with applicable laws, regulations and
customer requirements, satisfy our corporate requirements
properly and achieve our Siemens-wide environmental targets.
The environmental protection management system requires
that our relevant production and office sites must implement
an environmental management system which fulfills the re-
quirements of the internationally recognized ISO  stan-
dard and also our own internal standard, known as “Specifica-
tions on environmentally compatible product and system de-
sign.” This internal standard defines requirements to reduce
the environmental impact of our products and systems during
the production, use and disposal phase and is an integral part
of our business processes. The management system includes a
number of effective and complementary environmental pro-
grams as well as a set of Siemens-wide environmental targets.
We conduct regular internal reviews of our environmental per-
formance and progress, in order to create a cycle of continual
improvement.
Our commitment to continual improvement led to two envi-
ronmental protection programs in fiscal : “Serve the Envi-
ronment” for industrial environmental protection and “Product
Eco Excellence” for product-related environmental protection.
They are designed to improve energy and resource efficiency,
to fulfill growing international requirements with regard to en-
vironmental protection, to increase customer benefits, and to
proactively strengthen our position as a sustainable company.
Based on centralized recorded environmental data, we focus
our improvement efforts on the product-related and industrial
environmental protection requirements that need to be met.
C... INDUSTRIAL ENVIRONMENTAL PROTECTION
Our industrial environmental protection efforts focus on opti-
mizing energy and resource efficiency at our sites. With the
“Serve the Environment” program we are committed to the
following Siemens-wide main targets:
> to continue our systematic effort to improve energy
efficiency, and thereby achieve corresponding improvement
in our carbon dioxide efficiency;
> to improve the waste efficiency each year by % until ;
and
> to reduce waste for disposal each year by % until .
Furthermore, Siemens continues with the water risk manage-
ment approach we developed in fiscal . In locations where
there are particular water risks (for example as a result of arid-
ity, high waste-water loads or poorly developed technical infra-
structure), the local sites need to define targets matched to lo-
cal conditions and, in meeting those targets, effectively reduce
risks and negative impacts on the environment. Finally, our
“Serve the Environment” program also addresses air pollution
by seeking alternative solutions for any ozone-depleting sub-
stances still in legally permissible use. The generation of