Corporate Responsibility Annual Review 2008

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Taking Responsibilityin Our CommunitiesPricewaterhouseCoopers China, Hong Kong & Singapore

Corporate Responsibility Annual Review 2008


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2009 PricewaterhouseCoopers. All rights reserved. PricewaterhouseCoopers refers tohe network of member firms of PricewaterhouseCoopers International Limited, each of

which is a separate and independent legal entity.

pwccn.compwchk.compwc.com/sg

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Corporate responsibility (CR) has long been a partof our culture. Taking care of our clients and ourpeople has always been a priority, and we haveshown passion and generosity when engaging inour communities. We are starting to focus more onour responsibility to the environment, an issue thataffects us all. Last year, when we asked our peoplewhat they thought of our CR, 65% of respondents inPricewaterhouseCoopers(PwC) China/Hong Kong,and 70% in PwC Singapore were happy with ourexisting efforts in CR. We feel we can improve onthis.

In response to the survey results, we have takena step forward this year by developing a strategicapproach to CR and ensuring that we havededicated resources to sustain our efforts. We nowhave a CR committee that meets on a regular basisto help shape our CR policies and our work in ourcommunity outreach programmes. In September,we took the next step and appointed a full timeCR manager to help coordinate and drive our CRprogrammes in China, Hong Kong and Singapore.

The PwC Foundation, which coordinates our giving,is now in its third year and also taking a morestrategic approach to the way we deal with ourcorporate philanthropy. We have forged partnershipswith fantastic charities in China, Hong Kong andSingapore and will be working closely with themon a sustained basis to help them achieve verymeaningful goals.

We are proud of these important steps to developour CR. We are also aware that there is still muchto do. We will continue to actively encourage all ourpeople to engage in our corporate responsibilityinitiatives and together harnessing the power of13,000 people we can make a great difference inour communities.

Silas Yang

Chairman and Senior Partner

Message from the Chairman


4/12Taking Responsibility in Our Communities

PwCs Corporate Responsibility falls under four areas of focus:

Marketplace, People, Environmentand Communities.

Reflecting the approach that has been developed and adopted

globally, we are committed to each of these areas of CR in our

own markets, and see them as core to our corporate culture and

the way we do business.

Through our Code of Conduct and the belief thatbusinesses can only achieve sustainable successby treating clients and suppliers fairly and withrespect, PwC is committed to living up to its marketleadership position responsibly, in a way thatmakes our people proud to work for the PwC China,Hong Kong and Singapore firms, and our clientscomfortable and confident with our services andprofessional integrity.

Our people across China, Hong Kong and Singaporehave excellent professional skills and we take clientservice and relationships seriously. Through clientsatisfaction surveys we regularly check in with ourclients to ensure the services we deliver to them areadding value and we have strong systems in placeto ensure that we comply with the regulations thatgovern our business.

Marketplace

We also play a leading role in thought leadership andaim to contribute and influence the debate regardingkey issues in our community. Globally, PwC havesigned the UN Global Compact and adhere to itsprinciples, and we are a key contributor to both theWorld Economic Forum and the United NationsClimate Change Conference in 2009. In 2008 wehosted a CEO dialogue on sustainability in Shanghai,and PwC China, Hong Kong and Singapore becamea founding member of CSR Asias CommunityInvestment Roundtable, promoting better practicesfor community investment across the region.

As part of our business we help our clients enhancethe sustainability of their business by offering thefollowing professional services:

Sustainability Strategy Development and Design Carbon Market Services

Environmental Due Diligence

Sustainability Reporting and Assurance Compliance Assurance and Supply Chain Risk

Management



Our aim is to deliver an extraordinary environmentfor our people to work and develop in. People are atthe heart of what we do, and our culture promotesrespect, fairness and integrity in all we do.

We promote and encourage responsible leadershipthrough initiatives such as the PwC Global Ulyssesprogramme, where future leaders are given theopportunity to engage in overseas communitydevelopment projects as part of an intensive selfdevelopment programme. We also encourage andsupport our people to volunteer in the community,exposing them to a wide range of stakeholders andallowing them to better understand the communitiesin which we work.

The PwC China, Hong Kong and Singapore firms arerepresented on the Global Gender Advisory Council;a council convened by our global leadership to lookat improving gender imbalances at PwC globally

and help women realise their professional potential.At PwC China, Hong Kong and Singapore, womenmake up 26% of the partnership, which is above theglobal average of 13%. But we can do better.

We believe in a strong coaching culture thatemphasises the development of our people. ThePwC Performance Coaching & Developmentapproach is about creating a work environment thatenables our people to perform to the best of theirabilities in a supportive culture of coaching anddevelopment that incorporates Quality Coaching andTimely Feedback.

People

In 2004 we set up the We Care programme in PwCChina/Hong Kong, which is aimed at reinforcing andsupporting PwCs caring culture. Through We Carewe created the Ambassadors and Focus Groups(our communication channel with our people), theStaff Appreciation and Reward Programme (StAR) (away to show appreciation for good behaviour), thePwC Cup annual sporting event (to promote teamspirit) and annual family days (to harness the familyand work connection). The We Care Committee isworking hard to ensure that our firm continues toinvest in its relationship with our people.

PwC Experience awards in Singapore fall underour instant, year-round reward and recognitionprogramme which is aligned with our goal of creatingdistinctiveness through quality relationships with ourclients and people and our values. It is structuredto recognise and reward all staff who excel atdemonstrating the four PwC Experience behaviours

consistently (being invest in relationships, share andcollaborate, put ourselves in each others shoesand focus on enhancing value) and the skills andcompetencies necessary to bring those behavioursto life.



Through the PwC Scholarship for Excellence inAccounting Studies, we encourage the pursuit ofaccounting studies in China and Hong Kong andpromote excellence in the accounting profession.

The programme provides 4 scholarships to the mostoutstanding students of accounting in universitiesin Shanghai, Beijing, Guangzhou and Hong Kong.All 4 awardees and 36 runners up receive an awardand an internship opportunity at PwC. In addition,selected applicants will have the opportunity toparticipate in the PwC Premium Development

Programme (now PwC LEAP Programme) to furtherdevelop their personal qualities and potential.

In the same vein, PwC Singapore awards twoto three scholarships each year to outstandingsecond year Accountancy undergraduates fromSingapores top three universities. The awardincludes a scholarship and opportunities to internwith the Singapore office as well as with an overseasPwC firm during their vacation. Upon completionof their studies, the scholars will work for the firm

for a minimum period of three years, where theywill be given the opportunity to experience work inboth Tax and Assurance. This will give them a betterunderstanding of our business, exposure to variousorganisational functions and a more tailored careerdevelopment programme.

The PwC Experience places a keen emphasison team building so that people share andcollaborate to achieve success. We want toensure we not only achieve real benefits inthe workplace, but also in our society throughcorporate responsibility initiatives.

Dave McCannHuman Resources Partner



PwC China, Hong Kong and Singapore feels a strong responsibility to develop a clear and focused strategyto reduce our impact on the environment.

As a member of the PwC networks global climate change team, our Climate Change Committee is lookingseriously into how to work with our teams across China, Hong Kong and Singapore to increase our energyefficiency, improve our recycling facilities and reduce our carbon footprint.

Pro-environment policies and practices such as automatic lighting timers, recycling programmes, doublesided printing and the use of video conferencing as an alternative to air travel are helping bring us closer to

our Green Offices goal. We are at the beginning of this journey, and we all have a part to play.

Perhaps the most significant step we have taken was the decision to accommodate our burgeoning staffnumbers in environmentally-friendly office spaces. In January 2008, PwC Beijing expanded operations intothe Beijing Prosper Centre, the first large commercial development in China to attain the U.S. Green BuildingCouncils Leadership in Energy and Environmental Design (LEED CS) certification.

Environment



Power of 10

To mark the 10 year anniversary of the PriceWaterhouse and Coopers & Lybrand merger, PwC

globally decided to partner with the UNHCR toraise funds to provide facilities and education ona sustainable basis at camps in Chad for refugeechildren from Darfur. Over US$4 million hasbeen raised through our global network of firms,and US$250,000 was donated through our PwCFoundation.

Through the PwC Foundation, we are supporting Hongshan

School in rural Fujian province by providing funds for a newdormitory building for the schools students, currently living in

substandard accommodation. We look forward to supporting the

school in other ways too and are keen to involve our volunteers

in the process.

Communities

We are particularly committed to engaging andsupporting the communities in which we work. Theway in which we do that follows the four pillars ofPwCs Global Communities programme:

Giving Volunteering Community leadership Provision of professional services

Adapting these areas of focus to the local realitiesin the varied communities we work in is key tothe success of our wide reaching communityprogramme.

Giving

PwC Foundation

Set up in China/Hong Kong in 2006, the PwCFoundation is a system for channelling funds raised

from our people to charities and organisationswhich we support. Over RMB21 million has beenchannelled through the Foundation to date,benefiting over 50 charitable organisations.

While our people donate to a large number ofcharities, our strategic donor partners in China/Hong Kong are:

Community Chest of Hong Kong Lifeline Express Half the Sky China Literacy Foundation Red Cross Society of China Hongshan School, Fujian Province

Over the past years, PwC Singapore has giventhrough outright cash donations to organisationssuch as the Community Chest of Singapore, MILK(Mainly I Love Kids) Fund and the Singapore SportsCouncil as well as fundraised for targeted projects.These projects range from distributing festivegoodies to needy families, overseas community

initiatives and supporting the education ofunderprivileged children, touching the lives of manyin the process.

Sichuan Earthquake Response

In response to the devastating Wenchuan

earthquake there was an inspirational outpouring ofgenerosity from our people not only in China, HongKong and Singapore but also around our globalnetwork of firms. We raised RMB11.5 million globally,with over RMB6 million coming from China, HongKong and Singapore. The majority of our donationswere channelled through the Red Cross Society ofChina and of Singapore, who were able to mobiliserelief teams and put the funds to use as quicklyas we could raise them. The Red Cross Society ofChina later recognised our efforts with an award

for Outstanding contributions to the earthquakedisaster area relief effort.



Thank you tremendously for your support.

The first three communities have receivedtheir kits and the appreciation is sometimesoverwhelming. This is really making a differencein reducing suffering and bringing comfort andrelief to homes in the hardest hit areas.

Frank DunneEarthquake Resource Centre Executive Director

In addition to monetary contributions towardsrebuilding efforts, over 30 volunteers from theBeijing office gave their time and energy to assistLifeline Express in loading about 38 tonnes of PwCfunded supplies onto trucks going to Jiangyou, oneof the most devastated regions impacted by theearthquake.

Some funds were also set aside to support causesarising in the months following the earthquake, andin October we donated funds to the EarthquakeResource Centre in Sichuan to provide winter

clothing and blankets for over 2,000 people in someof the most remote areas of Sichuan.

For our long term commitment to the recovery andreconstruction of the quake hit areas, PwC is joiningforces with the Swiss Chamber of Commerce tobuild an earthquake proof, environmentally friendlyand sustainable school in Mianzhu, Sichuan. Throughour corporate volunteering programmes, we arecommitted to remaining involved with this schooland its students long after the construction phase is

finished.

Volunteering

Giving our time and sharing our various skills asvolunteers can bring huge benefits to our communitypartners, and allow our people to see for themselvesthe changes that they are helping to bring about. Wesupport our people who would like to volunteer forworthy causes, and are looking for ways to enhancethe level of this support.

Here are some snapshots of how our people have

been involved in volunteering across China, HongKong and Singapore.

AIESEC

In 2008, AIESEC and PwC China/Hong Kong together sent 18

PwC new recruits on volunteer placements in Kenya, Romania

and Turkey where they gave their time and energy on community

development projects, and also gained life experience and

cross cultural communication skills. PwC China/Hong Kong

also supports AIESEC through in kind support at career fairs

and conferences and by providing advisory services to support

its continued development.

MengEn Orphanage, Beijing

PwC Beijing staff and partners visiting the Mengen orphanage

for children with disabilities. Our volunteers support the

orphanage through donations and giving their time to interact

with the children at MengEn.


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YMCA of Singapore (Cambodia)PwC Singapore volunteers Marcus Woon and Oh Kai Wen

(foreground) during their overseas voluntary service trip to

Cambodia, where they took part in English teaching and

other educational activities, road construction and community

improvement projects.

We would also like to recognise the PwC volunteers who gave their time and energy during the Olympic andParalympic Games, as well as those for the Special Olympics in Shanghai 2007, and the many PwC teamsthat have also committed their time with local schools, orphanages and charities across our offices.

Yucai School, Shanghai

PwC Shanghais Sherry Liu and Jack Zhao pose with students

from the Yucai School for migrant children in Shanghai.

Following on from an initial volunteering trip organised with

PwC Singapore and YMCA of Singapore, volunteers from the

Shanghai office spend one afternoon a month at the school,

engaging in English, IT, music, art and drama classes with thechildren.



YMCA of Singapore

PwC Singapore has been

partnering with YMCA ofSingapore over the pastfew years on local and overseas volunteeringopportunities. Through this partnership, teamsof PwC volunteers have gone on service trips toCambodia and China. Following the success of ourinaugural collaborative volunteering between PwCSingapore and Shanghai in 2007 in aid of migrantchildren, we are exploring ways to enhance jointvolunteering opportunities across China, Hong Kongand Singapore.

Provision of Professional Services

The provision of professional services to communitypartners on a pro bono basis or at reduced rates is one way to use our key skills to benefit communityorganisations. In China and Hong Kong wecontinue to provide services to over 100 communityorganisations working in areas such as HIV/AIDS,healthcare, poverty alleviation, youth developmentand educational opportunities.

China Literacy Foundation

China Literacy Foundation is acharitable organisation whichprovides and supports theimprovement of educationalresources to children living in

the very poor and remote rural regions of China.The foundation relies on volunteers to carry out theirwork people who share the common belief thateducation can bring out the potential of the emerging

generation. PwC China, Hong Kong and Singapore isproud to be a volunteering partner of China LiteracyFoundation, with whom we are working on settingup volunteer projects in order to help CLF realiseits goals and bring life changing experiences to ourpeople at the same time.

Community Leadership

Further to volunteering efforts by our individuallocal offices, we have established two major firm-wide partnerships in PwC China/Hong Kong tocompliment PwC Singapores existing partner,YMCA of Singapore. Our key partners focus oneducation, and are making a significant differenceto the groups they target. Through volunteering andgiving, we are proud to support our partners as theystrengthen and grow, enhancing the impact they can

create in the community.

Half the Sky, Big Sisters

Programme

The Big Sisters programmeprovides individualised learningopportunities for older childrenwho remain in orphanages.Without some form of assistancewith on going learning, childrenselected for this programme would

face very limited opportunities beyond orphanagewalls. The programme currently serves about 430children across China, including some specialsupport for children orphaned by AIDS to continuetheir schooling. Individual learning programmes

include tutoring prior to exams, tuition for vocationalschool, funds for music, dance, computer or artclasses, and tutors for languages. Under thisprogramme a growing number of candidates attenduniversities throughout China. PwC China, HongKong and Singapore is a major sponsor of the BigSisters Programme and will also be working closelywith Half the Sky to explore developing volunteerprogrammes where our people might providetutoring for children who live in orphanages nearwhere we work.


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Corporate Responsibility Annual Review 2008

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