Hong Kong Productivity Council (HKPC) was commissioned by Swire Properties Limited (Swire Properties) to verify its Environmental, Health and Safety (EHS) Report 2007 (2007 Report). The 2007 Report covers the EHS performance of Swire Properties during the calendar year of 2007.

Objectives

The objective of HKPC's verification work is to provide a third-party assurance on the completeness, accuracy and reliability of information presented in the 2007 Report and, more specifically, to:

• Assess whether the scope of the 2007 Report covers all significant aspects in relation to Swire Properties' performance;
• Evaluate whether the selected statements and data presented in the 2007 Report are accurate;
• Review whether the data collection and information management mechanisms used to prepare the 2007 Report are reliable; and
• Provide recommendations for future reports.

Approach

Our verification procedures comprised a comprehensive review of the 2007 Report followed by the selection of a representative sample of statements and data for verification. Through an interview with Swire Properties' representative, we reviewed and examined the data collation systems and supporting materials relating to the selected statements and data as well as Swire Properties' relevant management practices and initiatives.

Results

Report Completeness

The 2007 Report presents a structured overview of Swire Properties' EHS performance with respect to its major services, activities and initiatives. The Report provides an in-depth account on Swire Properties' energy efficiency initiatives and achievement in reducing carbon dioxide emission. The Report also outlines Swire Properties' performance on selected social and economy indicators. In response to the feedback on the last year Report, Swire Properties has improved the Report content by involving key stakeholders in the reporting process.

Report Accuracy and Reliability

The selected statements and data examined during the verification process, with minor amendments subsequently made to the verifier's satisfaction, are consistent with the source materials reviewed. It reflects a fair and accurate account of Swire Properties' EHS performance. The data collation and information management systems adopted are generally considered to be effective, reliable and organized.

Recommendations for Future Reports

We encourage Swire Properties to consider the inclusion of the following aspects in the preparation of its future reports:

• To provide a more balanced presentation of information on environmental performance by addressing initiatives other than energy efficiency and waste management;
• To describe the strategies in managing its suppliers' and contractors' EHS performance;
• To adopt more visual and graphical presentation to enhance the overall report readability; and
• To further expand the scope of the report by increasing the coverage of appropriate performance indicators with reference to the Global Reporting Initiative G3 Guidelines.

K L Tsang General Manager Environmental Management Division Hong Kong Productivity Council 3 July 2008