Carbon Disclosure Project: Asia exc. Japan 2012 (SUMMARY)

1Increased opportunitiesfrom emerging regulationCDP Asia ex-Japan Climate Change Report 2012 - SummaryOn behalf of 655 investors with assets of US$ 78 trillionGold Data Partner & Report WriterScoring Partner2Contents“For HSBC, climate change is a cornerstone of our ongoing business strategy... The reporting framework that the CDP has pioneered over the past decade has helped us both as respondent and signatory to improve our understanding of the strategic risks and opportunities in this area.”Douglas Flint, Group Chairman, HSBC Holdings plcImportant NoticeThe contents of this report may be used by anyone providing acknowledgement is given to Carbon Disclosure Project (CDP). This does not represent a license to repackage or resell any of the data reported to CDP or the contributing authors and presented in this report. If you intend to repackage or resell any of the contents of this report, you need to obtain express permission from CDP before doing so. Trucost Plc and CDP have prepared the data and analysis in this report based on responses to the CDP 2012 information request. No representation or warran-ty (express or implied) is given by Trucost Plc or CDP as to the accuracy or completeness of the information and opinions contained in this report. You should not act upon the information contained in this publication without obtaining specific professional advice. To the extent permitted by law, Trucost Plc and CDP do not accept or assume any liability, responsibility or duty of care for any consequences of you or anyone else acting, or refraining to act, in reliance on the information contained in this report or for any decision based on it. All information and views expressed herein by CDP and/or Trucost Plc are based on their judgment at the time of this report and are subject to change without notice due to economic, political, industry and firm-specific factors. Guest commentaries where included in this report reflect the views of their respective authors; their inclusion is not an endorsement of them.Trucost Plc and CDP and their affiliated member firms or companies, or their respective shareholders, members, partners, principals, directors, officers and/or employees, may have a position in the securities of the companies discussed herein. The securities of the companies mentioned in this document may not be eligible for sale in some states or countries, nor suitable for all types of investors; their value and the income they produce may fluctuate and/or be adversely affected by exchange rates.‘Carbon Disclosure Project’ and ‘CDP’ refer to Carbon Disclosure Project, a United Kingdom company limited by guarantee, registered as a United Kingdom charity number 1122330.CDP Foreword Paul Simpson, CEO Carbon Disclosure Project 3Report Writer Foreword Dr. Richard Mattison, CEO Trucost Plc 4CDP Investor Members 2012 5Executive Summary 62012 Leaders 8Disclosure Leaders 9Performance Leaders 10Appendix Asia ex-Japan responding companies 113The pressure is growing for companies to build long-term resilience in their business. The unprecedented debt crisis that has hit many parts of the world has sparked a growing understanding that short-termism can bring an established economic system to breaking point. As some national economies have been brought to their knees in recent months, we are reminded that nature’s system is under threat through the depletion of the world’s finite natural resources and the rise of greenhouse gas emissions. Business and economies globally have already been impacted by the increased frequency and severity of extreme weather events, which scientists are increasingly linking to climate change1. Bad harvests due to unusual weather have this year rocked the agricultural industry, with the price of grain, corn and soybeans reaching an all time high. Last year, Intel lost $1 billion in revenue and the Japanese automotive industry were expected to lose around $450 million of profits as a result of the business interruption floods caused to their Thailand-based suppliers.It is vital that we internalize the costs of future environmental damage into today’s decisions by putting an effective price on carbon. Whilst regulation is slow, a growing number of jurisdictions have introduced carbon pricing with carbon taxes or cap-and-trade schemes. The most established remains the EU Emissions Trading Scheme but moves have also been made in Australia, California, China and South Korea among others.Enabling better decisions by providing investors, companies and governments with high quality information on how companies are managing their response to climate change and mitigating the risks from natural resource constraints has never been more important. CDP has pioneered the only global system that collects information about corporate behaviour on climate change and water scarcity, on behalf of market forces, including shareholders and purchasing corporations. CDP works to accelerate action on climate change through disclosure and more recently through its Carbon Action program. In 2012, on behalf of its Carbon Action signatory investors CDP engaged 205 companies in the Global 500 to request they set an emissions reduction target; 61 of these companies have now done so.CDP continues to evolve and respond to market needs. This year we announced that the Global Canopy Programme’s Forest Footprint Disclosure Project will merge with CDP over the next two years. Bringing forests, which are critically linked to both climate and water security, into the CDP system will enable companies and investors to rely on one source of primary data for this set of interrelated issues. Accounting for and valuing the world’s natural capital is fundamental to building economic stability and prosperity. Companies that work to decouple greenhouse gas emissions from financial returns have the potential for both short and long-term cost savings, sustainable revenue generation and a more resilient future.Paul SimpsonCEO Carbon Disclosure ProjectCDP Foreword“CDP has pioneered the only global system that collects information about corporate behaviour on climate change and water scarcity, on behalf of market forces, including shareholders and purchasing corporations.”1: The State of the Climate in 2011 report, led by the National Oceano-graphic and Atmospheric Administration (NOAA) in the US and published as part of the Bulletin of the American Meteorological Society (BAMS)4Trucost Foreword“Forward-thinking companies are positioning their brands for the growing market for green products. They will need hard evidence to back up their environmental claims and maximize opportunities.”The Asia Pacific region is the fastest-growing source of greenhouse gas emissions. The impact of climate change on Asian economies is tangible – in the last year alone significant droughts and floods have caused major disruption and volatility. Perhaps not surprisingly, awareness of climate-related risks has grown among companies responding to the CDP information request in 2012. They provided more than 500 answers to CDP questions on regulatory risk from carbon controls, physical risks from climate change impacts and market risk from a switch to low-carbon products. What’s more, most companies see the risks as imminent, within the next five years. Companies also identified near term opportunities, such as the growth in sales of carbon-efficient goods and services. Forward-thinking companies are identifying opportunities and gearing up to position their brands for the growing market for green products. They will need hard evidence to back up their environmental claims as businesses and consumers become more discerning in their purchases. Opportunities are at the heart of policy instruments that aim to spur a shift to resource-efficient economies. This is a key part of the drive for green growth across many Asian countries.Many companies are already facing serious resource constraints as environmental challenges contribute to high food, energy and commodity prices. Asia Pacific is consuming more resources than its ecosystems can replenish, threatening the region’s forests and rivers.1 The region’s consumption of biomass, fossil fuels, metal ores/industrial minerals and construction minerals has grown rapidly. 2 It uses three times more resources than the rest of the world to create each unit of GDP, and the region’s resource intensity has increased, in contrast to declines in other parts of the world.3 Resource-intensive growth has made Asia Pacific more vulnerable to resource price volatility.The largest companies are recognizing this. Information provided by this year’s responding companies shows that more are reducing their carbon intensity than increasing it. Most companies have targets to reduce carbon intensity or cut absolute emissions. Better reporting on progress against targets provides more transparency to investors – robust, standardised carbon data can be used to understand risks from exposure to carbon costs. Overall, more companies responded to the CDP information request, although there is still much progress to be made with many yet to report on their climate strategy and carbon emissions. CDP has been a catalyst for more widespread reporting on the implications of climate change for business. As more companies disclose information, investors and other stakeholders will expect better quality data and more information on risks and opportunities to enable them to compare and contrast investment opportunities. Companies that can transparently demonstrate they are more resource and carbon-efficient will be well placed to attract investors. Dr. Richard MattisonCEO Trucost plc 1: Asia Development Bank, Ecological Footprint and Investment in Natural Capital in Asia and the Pacific, 2012 2: http://www.unescap.org/esd/environment/flagpubs/ggrap/documents/Full-Report.pdf, accessed 25 October 2012. 3: http://www.unescap.org/esd/environment/lcgg/documents/A_summary_for_policymakers_FINAL_15_6_12.pdf, accessed 25 October 2012.515CDP Investor Members 2012AegonAKBANK T.A.S.Allianz Global InvestorsAviva InvestorsAXA GroupBank of America Merrill LynchBendigo and Adelaide BankBlackrockBP Investment ManagementCalifornia Public Employees Retirement System - CalPERSCalifornia State Teachers Retirement Fund - CalSTRSCalvert Asset Management CompanyCatholic SuperCCLADaiwa Asset Management Co. Ltd.Generation Investment ManagementHSBC HoldingsKLPLegg MasonLondon Pension Fund AuthorityMongeral Aegon Seguros e Previdência S/AMorgan StanleyNational Australia BankNEI Investments Neuberger BermanNewton Investment Management LtdNordea Investment ManagementNorges Bank Investment ManagementPFA PensionRobecoRockefeller & Co.SAM GroupSampension KP Livsforsikring A/SSchrodersScottish Widows Investment PartnershipSEBSompo Japan Insurance IncStandard CharteredTD Asset Management Inc. and TDAM USA Inc.The RBS GroupThe Wellcome TrustCDP works with investors globally to advance the investment opportunities and reduce the risks posed by climate change by asking almost 6,000 of the world’s largest companies to report on their climate strategies, GHG emissions and energy use in the standardized Investor CDP format. To learn more about CDP’s member offering and becoming a member, please contact us or visit the CDP Investor Member section at https://www.cdproject.net/investormembers2 2012 SIGNATORy INvESTOR BREAKDOWN259 Asset Managers 220 Asset Owners143 Banks33 Insurance13 Other1 CDP INvESTOR SIGNATORIES & ASSETS (US$ TRILLION) AGAINST TIME• Investor CDP Signatories• Investor CDP Signatory Assets39+33+22+4+239%33%21%5% 2%1 CDP INVESTOR SIGNATORIES & ASSETS (US$ TRILLION) AGAINST TIME• Investor CDP Signatories• Investor CDP Signatory Assets35 95 155 225 315 385 475 534 551 6554.5 10 21 31 41 57 55 64 71 782003 2004 2005 2006 2007 2008 2009 2010 2011 2012700600500400300200100080706050403020100Assets (US$ Trillions)Number of Signatories56Executive SummaryThis report analyses responses in the Asia ex-Japan 400 20121 sample. These are considered to be the companies of greatest interest to investors and which could be meaningfully compared to each other in terms of size and importance to the region’s economy. This year 32%2 (129) of companies from Asia ex-Japan responded to CDP – an almost 20% increase from 27% in 2011. These responses provide valuable insight into how companies are operating in an environment with increased business opportunities from emerging regulation to address greenhouse gas (GHG) emissions that contribute to climate change. South Korea and Taiwan are the most represented countries relative to the overall Asia ex-Japan population (see Figure 3). Regulations expected to spur low-carbon growthCompanies responding in 2012 reveal expectations that regulations that could lead to rising costs for reporting and reducing GHG emissions will also be the main sources of climate-related business opportunities. Although 57% of responding companies raised concerns about exposure to regulatory risks such as the operating and capital costs of complying with government policies to tackle climate change, 51% foresee related opportunities. Opportunities identified include the potential to generate carbon credits for sale to companies covered by carbon trading schemes, and revenue growth from low-carbon products and services. On the flipside, the main risk drivers identified for companies that are unprepared for a low-carbon economy are brand damage or greening consumer choices. Low-carbon branding opportunities are expected to generate financial benefits equivalent to risks borne by firms unprepared for changes in purchasing patterns.Approximately 30% of responding companies see regulatory risks and opportunities as immediate issues. More than one-third expect regulatory opportunities to emerge within the next five years, while 42% expect risks to hit in the same timeframe. Some 28% of responding companies think that they can already capitalize on low-carbon opportunities. Awareness of potential benefits from regulatory frameworks to address climate change is greatest among Financial and Information Technology (IT) companies. Their response rates, carbon management strategies, carbon performance and product development reflect the inclusion of climate change issues in decision-making to position themselves for low-carbon business opportunities. The Financial and IT sectors have the greatest uptake of emissions-reduction activities in Asia ex-Japan. Energy efficiency dominates the IT industry’s responses, while many financial services companies are purchasing renewable energy and developing green products. Climate change impacts costlyWhen it comes to the physical effects of climate change, concerns about risks from impacts overshadow optimism about business opportunities. 65 responding companies discuss physical risks, compared with 44 “We use responses to the CDP questionnaire as one source of information for our engagements with companies on their environmental performance. We also engage with companies that do not participate in the CDP. Both responses and non-responses thus inform our engagements with companies around the world.”Hans-Christoph Hirt, Director, Hermes Equity Ownership Services Ltd7Executive Summaryidentifying related opportunities to facilitate adaptation to impacts such as more frequent and severe floods and droughts. On the whole, responding companies are concerned that risks to profit margins from extreme weather events will outweigh related revenue growth. Half of respondents already see water availability and cyclones disrupting production and increasing costs. Performance vs. targets57% of responding companies report changes in carbon intensity, measured as emissions from operations per unit of revenue. Their combined increases and decreases relative to their respective baselines result in an overall 6% fall in carbon intensity. More companies are reducing their carbon intensity than increasing it. 42% of responding companies report declines in carbon intensity whereas 15% disclosed increases.68 companies disclosed targets to reduce their GHG emissions. 40% of responding companies that disclosed carbon reduction targets report that they met or exceeded these (or other earlier targets to reduce carbon emissions or energy use). 41 companies set intensity-based targets. More companies that set targets to reduce emissions per unit of revenue reduced their carbon intensity than the number of companies that made progress towards absolute emissions-reduction targets. 71% of companies with targets to reduce carbon intensity report a fall in emissions relative to revenue. 68% of companies with targets to reduce absolute GHG emissions said they had cut carbon, although 21% also said that their emissions had increased.Data quality72% of companies provide data on emissions from operations, electricity purchases or value chains. More reliable emissions monitoring and reporting is required to improve data accuracy. While 64% of responding companies report on data accuracy, 33 companies are confident that their carbon data are accurate with a margin of error of up to 2%. Many companies see data gaps, metering/measurement constraints or data management as key challenges in providing reliable figures.54% of responding companies are verifying or assuring their carbon data. Companies with more robust, reliable carbon measurement and reporting will be better prepared for the rise of mandatory and voluntary initiatives to encourage greater disclosure of environmental information by companies listed in Asia ex-Japan. Companies that provide robust information, including carbon data in line with international carbon reporting standards such as the Greenhouse Gas Protocol, could be well placed to attract capital from investors that integrate environmental, social and governance information in decision making.1: CDP selected the Asia ex-Japan 400 sample covered in this report through a combination of weighted representation by country and market capitalisation2: This percentage includes companies that reference a holding company’s re-sponse. Analysis of the remainder of this report is based on responses received by 10th September 2012 and does not include companies that reference a holding company’s response.3 BREAKDOWN OF ASIA EX-JAPAN 400 RESPONDING COMPANIES By COUNTRy• 2012• 20114 PERCEPTIONS OF THE TIMING OF REGULATORy RISKS AND OPPORTUNITIES• Opportunity• RiskIndiaSouth KoreaChinaTaiwanSingaporeMalaysiaThailandIndonesiaPhilippinesHong Kong3528242223101415763222120 5 10 15 20 25 30 35 405115140102030405060708090100>10 years6-10 years1-5 yearsCurrentNote: Some companies identified risks and/or opportunities in more than one time periodNumber of companies Number of responding companies Note: Includes companies that reference a holding company’s response82012 Leaders Introduction to disclosure and performance scoring Each year, company responses are reviewed, analyzed and scored for the quality of disclosure and performance on actions taken to mitigate climate change. How are the disclosure and performance leaders determined? To be recognized as a leader on disclosure among Asia ex-Japan companies1, a company must: • Make its response public and submit it via CDP’s Online Response System • Achieve a disclosure score higher or equal to 85 To be recognized as a leader on performance among Asia ex-Japan companies (Performance Band A), a company must: • Make its response public and submit it via CDP’s Online Response System • Attain a performance score greater than 85 • Score maximum performance points on question 13.1a (absolute emissions performance for GHG reductions due to emission reduction activities over the past year) • Disclose gross global Scope 1 and Scope 2 figures • Score maximum performance points for verification of Scope 1 and Scope 2 emissionsNote: Companies that achieve a performance score high enough to achieve the score threshold for an A performance band but do not meet the additional requirements for an A band such as scoring maximum points for verification, are classed as Performance Band A-.Why are disclosure and performance scores important to investors? Analyses of high-scoring company responses provide insights into the characteristics and common trends among the leading companies on carbon disclosure and performance. They highlight good practices in reporting, governance, risk management, verification and emissions reductions activities toward climate change adaptation and mitigation. Additionally, good carbon management and disclosure may be used as a proxy to assess where management is applying superior understanding of risk profiles and opportunities to help increase financial returns and the sustainability of businesses. High-scoring companies typically show a deeper understanding of, and address more pro-actively, the risks and opportunities presented by climate change. Managers build this into their strategy, risks and opportunities management and reporting processes. This transparency, and willingness to disclose information, is attractive to investors as they can make a more informed decision based on this information.1: For further information on how scores are determined, please visit https://www.cdproject.net/guidance“As consumers become increasingly conscious about their impact on the environment, companies which make an effort to be sustainable in the long term will gain a competitive advantage. As an exchange, we are encouraging our listed companies to engage in sustainability reporting by leading the way.”Singapore Exchange, Financials, Singapore9The Asia ex-Japan Disclosure Leaders 20122 The average disclosure score for all Asia ex-Japan companies was 62 in 2012. The average score of the disclosure leader companies is 92.5. 64% of the scored companies either increased their score or achieved the same as in 2011. This indicates that the general quality and completeness of company responses has improved this year. In 2012, 20 companies are recognized as leaders on disclosure. Eight out of the 10 sectors were represented and Industrials was the most represented sector (five companies).Geographically, South Korea is strongly over-represented among Asia ex-Japan disclosure leaders relative to the overall number of South Korean companies in the Asia ex-Japan sample (12 South Korean companies are among the top scoring companies on disclosure, relative to 30 in the sample), with LG Electronics achieving a 100 disclosure score. In second place is Hong Kong with five companies. All of these companies but one (95% of companies leading on disclosure) are setting absolute and/or intensity targets to monitor progress (outside of the disclosure leadership group: 58%). By already integrating climate change into their mainstream business processes, the vast majority of leading companies are ideally placed to meet future reporting requirements and are at the forefront of driving change in adapting to a sustainable future.2: This does not take into account company responses from all Chinese companies, which were not all scored as part of the Investor CDP program in 2012.“LGE completed GHG inventory of global manufacturing operations and proceeds 3rd party verification every year. After announcing its long-term reduction goal for manufacturing, LGE checks the progress globally at least twice a year from 2009. LGE is expanding its GHG emissions management and setting a reduction target for [its] whole value chain.”LG Electronics, Consumer Discretionary, South KoreaSector Company CountryDisclosure ScorePerformanceBandConsumer Discretionary Hyundai Motor South Korea 88 BLG Electronics South Korea 100 AEnergy S-Oil Corporation South Korea 85 BFinancials Swire Pacific Hong Kong 88 BIndustrials Cathay Pacific Airways Ltd Hong Kong 88 CMTR Corporation Hong Kong 91 CNoble Group Singapore 92 BSamsung C&T South Korea 97 ASamsung Engineering South Korea 96 BInformation Technology Lenovo Group China 85 BSamsung Electronics South Korea 96 BSK Hynix South Korea 99 AWipro India 95 BMaterials Honam Petrochemical Corp. South Korea 94 BLG Chem South Korea 93 BPOSCO South Korea 94 BTelecommunication Services KT South Korea 89 BSK Telecom South Korea 90 BUtilities CLP Holdings Ltd Hong Kong 92 BPower Assets Holdings Ltd Hong Kong 99 B10The Asia ex-Japan PerformanceLeaders 20123 Sector Company CountryDisclosure ScorePerformanceBandConsumer Discretionary LG Electronics South Korea 100 AIndustrials Samsung C&T South Korea 97 AInformation Technology SK Hynix South Korea 99 AThe criteria for an A performance band were raised in 2012 and companies now need to: achieve a performance score of more than 85, score maximum performance points on question 13.1a (absolute emissions performance), and disclose and verify Scope 1 and 2 emissions.In 2012, three companies from South Korea achieved the top performance band and therefore are leaders among the Asia ex-Japan companies. This is not surprising given the implementation in 2011 in South Korea of the Greenhouse Gas (GHG) Energy Target Management System, a mandatory government-driven emissions reporting and management system. We envisage that, as regulation around emissions reporting materializes in the “In 2011, SK Hynix has been increasing R&D investment according to our medium- and long-term climate change strategy (production of low-power products) and invested 830 billion KRW in R&D, increased by 40 billion KRW from 2010. To secure technological competitiveness in the development of next- generation memory, which boasts high- performance and electricity-saving technology, we have been collaborating with renowned global companies.”SK Hynix, Information Technology, South Korearest of the Asia ex-Japan countries, companies from other countries will also reach this highest level of performance on climate change in future years.Companies achieving an A performance band typically show a deeper understanding of, and address more pro-actively, the risks and opportunities presented by climate change. They highlight good practices in reporting, governance, verification and emissions reduction activities toward climate change adaptation and mitigation.3: This does not take into account company responses from all Chinese companies, which were not all scored as part of the Investor CDP program in 201211Appendix - Asia ex-Japan responding companiesCompany name Country Sectora2012 response statusb2011 response status2012 scorecTotal Scope 1 and Scope 2 emissionsScope 1Scope 2Number of Scope 3 categories reporteddTargets reportedeAAC Technologies Holdings Hong Kong IT AQ X 51 E 88,495 6,785 81,710ABB - Asea Brown Bovari India IND SA SA SA SA SA SA SA SAAboitiz Equity Ventures Philippines IND SA NR SA NP NP NP NP NPAboitiz Power Corporation Philippines UTIL AQ AQ 39 NP NP NP NP NPACC India MAT AQ AQ 72 16,434,824 15,809,662 62,5162 1 IntAdvanced Semiconductor EngineeringTaiwan IT AQ AQ 67 D NP NP NP NP NPAmbuja Cements India MAT AQ AQ 68 14,427,970 14,056,831 371,139 IntAstra International Indonesia CD AQ AQ 11 NP NP NP NP NPAsustek Computer Inc Taiwan IT AQ AQ 63 D 19,009 258 18751 1 Abs Ayala Land Inc Philippines FIN AQ IN 45 84,321 10,912 73,409 Abs Bank of Communications China FIN AQ AQ * NP NP NP NP NPBursa Malaysia Malaysia FIN AQ AQ * NP NP NP NP NPCairn India India EGY AQ AQ 38 698,816 691,065 7,751Capitaland Ltd Singapore FIN AQ AQ * NP NP NP NP NPCapitaMall Trust Singapore FIN SA SA SA NP NP NP NP NPCastrol India India MAT SA SA SA SA SA SA SA SACathay Financial Holding Taiwan FIN AQ AQ 13 NP NP NP NP NPCathay Pacific Airways Ltd Hong Kong IND AQ AQ 88 C 16,340,400 16,286,705 53,695 1 IntChina Communications ConstructionChina IND AQ AQ *China Construction Bank China FIN AQ IN * NP NP NP NP NPChina Merchants Holdings Company LtdChina IND AQ AQ * NP NP NP NP NPChina Merchants Property Development (A)China FIN AQ NR * NP NP NP NP NPChina Mobile China TCOM AQ NR * NP NP NP NP NPChina Oilfield Services China EGY AQ NR * NP NP NP NP NPChina Pacific Insurance GroupChina FIN AQ IN * NP NP NP NP NPChina Shenhua Energy China EGY AQ AQ * NP NP NP NP NPChina Steel Taiwan MAT AQ AQ 79 C 22,500,348 21,128,989 1,371,359 IntChina Telecom China TCOM AQ IN * NP NP NP NP NPChinatrust Financial Holding Co LtdTaiwan FIN AQ(L) AQ AQ(L) AQ(L) AQ(L) AQ(L) AQ(L) AQ(L)China Unicom China TCOM AQ NR * NP NP NP NP NPChunghwa Telecom Taiwan TCOM AQ AQ 70 E 910,879 25,322 885,556 1 Abs City Developments Ltd Singapore FIN AQ AQ 66 D 33,440 1908 31,532 1 IntCLP Holdings Ltd Hong Kong UTIL AQ AQ 92 B 44,450,000 44,260,000 190,000 1 IntCNOOC China EGY AQ AQ 33 NP NP NP NP NPColgate Palmolive India India CS SA SA SA SA SA SA SA SACompal Electronics Taiwan IT AQ DP 65 D 152,208 12,470 139,738 IntDelta Electronics Taiwan IT AQ AQ 78 B NP NP NP NP NPDigi.com Malaysia TCOM AQ AQ 57 E 110,710 13,179 97,531 1 Abs Dr. Reddy’s Laboratories India HC AQ NR 60 NP NP NP NP NPEnergy Development Corp Philippines UTIL SA NR SA SA SA SA SA SAEsprit Holdings Hong Kong CD AQ NR 12 NP NP NP NP NPEssar Oil India EGY AQ AQ 72 2,526,400 2,489,006 37,394 Abs Foxconn International HoldingsHong Kong IT AQ AQ 47 NP NP NP NP NPFubon Financial Holdings Taiwan FIN AQ NR 19 NP NP NP NP NPGemdale China FIN AQ IN *Please refer to the Key on page 14 for further explanation of the abbreviations used12Company name Country Sectora2012 response statusb2011 response status2012 scorecTotal Scope 1 and Scope 2 emissionsScope 1Scope 2Number Scope 3 categories reporteddTargets reportedeGlaxoSmithKline PharmaceuticalsIndia HC SA SA SA SA SA SA SA SAGodrej Consumer Products India CS AQ AQ 48 NP NP NP NP NPHana Financial Group South Korea FIN AQ AQ * 24,668Hang Seng Bank Hong Kong FIN AQ AQ 30 23,620 Abs HCL Technologies India IT AQ AQ 66 154,323 34,592 119,731 1 IntHDFC Bank Ltd India FIN AQ AQ 71 E 276,422 4,880 271,542 4Hindustan Unilever India CS SA SA SA SA SA SA SA SAHindustan Zinc India MAT AQ AQ 64 4,799,273 4,619,113 180,160 2 IntHon Hai Precision Industry Taiwan IT SA SA SA NP NP NP NP NPHonam Petrochemical Corp. South Korea MAT AQ AQ 94 B 4,302,021 3,316,493 985,528 4 IntHong Kong Exchanges & ClearingHong Kong FIN AQ AQ 79 D NP NP NP NP NPHTC Corporation Taiwan IT AQ AQ 44 NP NP NP NP NPHyundai Mobis South Korea CD AQ AQ 77 C 357,127 65,255 291,872 1* IntHyundai Motor South Korea CD AQ AQ 88 B 2,283,795 821,374 1,462,421 3 Abs ICICI Bank Limited India FIN AQ AQ 74 E 67,404 3,415 63,989 2*IDBI Bank Ltd India FIN AQ AQ 36 47,132 0 47,132Indian Oil Corporation India EGY AQ DP 53 14,260,000 14,154,000 106,000Indusind Bank India FIN AQ AQ 52 NP NP NP NP NPIndustrial And Commercial Bank Of China LtdChina FIN AQ AQ * NP NP NP NP NPIndustrial Bank of Korea South Korea FIN AQ AQ 83 C 40,283 11,019 29,264 1 Abs Infosys Limited India IT AQ AQ 72 C 178,953 20,294 158,659 2 IntInner Mongolia Yitai Coal Company LtdChina EGY AQ NR * NP NP NP NP NPITC Limited India CS AQ AQ 82 B 1,316,954 1,156,678 160,277 1KB Financial Group South Korea FIN AQ AQ 76 C 39,601 1,868 37,733 1 Abs KT South Korea TCOM AQ AQ 89 B 1,173,257 63,678 1,109,579 1 Abs KT&G South Korea CS AQ AQ * 0 0 0Larsen & Toubro India IND AQ AQ 73 759,458 572,828 186,630 2 IntLenovo Group China IT AQ AQ 85 B 91,593 2,295 89,297 4 Abs LG Chem South Korea MAT AQ AQ 93 B 5,887,625 4,207,796 1,679,829 1 IntLG Electronics South Korea CD AQ AQ 100 A 1,361,035 442,169 918,866 4 Abs LG Household & Health Care South Korea CS AQ AQ * 41,878 5,476 36,402 1 IntLi & Fung Hong Kong CD AQ AQ 74 B NP NP NP NP NPLink REIT Hong Kong FIN AQ AQ 51 C NP NP NP NP NPLotte Shopping South Korea CD AQ AQ * NP NP NP NP NPLuzhou Laojiao China CS AQ IN * NP NP NP NP NPMahindra & Mahindra India CD AQ AQ 82 NP NP NP NP NPMalayan Banking Malaysia FIN AQ AQ 58 D NP NP NP NP NPMTR Corporation Hong Kong IND AQ AQ 91 C 1,196,173 39,543 1,156,630 3*Nestlé India India CS SA SA SA SA SA SA SA SANHN South Korea IT AQ AQ * NP NP NP NP NPNoble Group Singapore IND AQ AQ 92 B 2,765,524 2,544,055 221,469 3* IntOlam International Singapore CS AQ AQ 54 E 241,613 157,033 84,580 4Oversea-Chinese Banking Singapore FIN AQ NR 5 0 0 0PETROCHINA Company Ltd China EGY AQ IN * 0 0 0 Abs Philippine Long Distance Telephone CompanyPhilippines TCOM AQ NR 8 0 0 0Ping An Insurance Company of ChinaChina FIN AQ IN *13Company name Country Sectora2012 response statusb2011 response status2012 scorecTotal Scope 1 and Scope 2 emissionsScope 1Scope 2Number Scope 3 categories reporteddTargets reportedePOSCO South Korea MAT AQ AQ 94 B 78,227,000 7,460,2000 3,625,000 3 IntPower Assets Holdings Ltd Hong Kong UTIL AQ AQ 99 B 8,631,000 863,1000 0 Abs, IntPower Finance Corporation India FIN AQ NR 6 0 0 0PTT Thailand EGY AQ NR 63 D NP NP NP NP NPPTT Exploration & Production Public Company LtdThailand EGY AQ AQ 62 D 2,752,725 2,751,322 1,403 2Quanta Computer Taiwan IT AQ AQ 54 E 329,243 15,255 313,988 IntSamsung C&T South Korea IND AQ AQ 97 A 49,966 12,195 37,771 3 Abs, IntSamsung Electronics South Korea IT AQ AQ 96 B 11,303,978 4,045,113 7,258,865 3* IntSamsung Engineering South Korea IND AQ AQ 96 B 80,713 67,824 12,889 2 Abs, IntSamsung Fire & Marine InsuranceSouth Korea FIN AQ AQ 78 C 41,584 9,071 32,513 1 Abs Samsung Life Insurance South Korea FIN AQ DP * 129,461 29,547 99,914Sesa Goa India MAT AQ AQ 70 740,248 671,529 68,719 2Shanghai Pudong Development BankChina FIN AQ IN *Shangri-La Asia Hong Kong CD AQ AQ 48 NP NP NP NP NPShinhan Financial Group South Korea FIN AQ AQ 78 C 36,765 3,868 32,897 Abs, IntSiemens India India IND SA SA SA SA SA SA SA SASime Darby Bhd Malaysia IND AQ DP 51 D NP NP NP NP NPSingapore Airlines Singapore IND AQ AQ 47 NP NP NP NP NPSK Hynix South Korea IT AQ AQ 99 A 3,595,167 1,321,435 2,273,732 4 Abs, IntSK Telecom South Korea TCOM AQ AQ 90 B 608,055 9,560 598,495 2* Abs S-Oil Corporation South Korea EGY AQ AQ 85 B 8,182,218 7,308,137 874,081 Abs State Bank of India India FIN AQ AQ 19 0 0 0Sterlite Industries India MAT AQ AQ 61 615,519 182,318 433,201 4 IntSuning Appliance China CD AQ IN * NP NP NP NP NPSwire Pacific Hong Kong FIN AQ AQ 88 B 16,865,559 16,396,828 468,731 1* IntSwire Properties Hong Kong FIN SA X SA SA SA SA SA SATaiwan Semiconductor ManufacturingTaiwan IT AQ AQ 76 B 4,286,217 1,375,110 2,911,107 5 Abs, IntTata Consultancy Services India IT AQ AQ 78 C 335,022 34,219 300,803 4 IntTata Motors India CD AQ AQ 44 610,460 197,094 413,366Tata Power Co India UTIL AQ AQ 66 11,071,714 11,071,714 0 1 IntTata Steel India MAT AQ DP 73 17,072,158 16,283,032 789,126 IntTitan Industries India CD AQ AQ 48 NP NP NP NP NPUni-President Enterprises Taiwan CS AQ AQ 50 E NP NP NP NP NPUnited Microelectronics Taiwan IT AQ AQ 76 B 1,802,000 595,000 1,207,000 4 Abs, IntWipro India IT AQ AQ 95 B 307,095 65,129 241,966 7 Abs, IntWoori Financial Group South Korea FIN AQ AQ * NP NP NP NP NPYanzhou Coal Mining China EGY AQ AQ * NP NP NP NP NPYES BANK Ltd India FIN AQ AQ 73 15,319 0 15,319 3Yuanta Financial Holding Taiwan FIN AQ AQ 11 NP NP NP NP NPZTE China IT AQ AQ * NP NP NP NP NP14a CD Consumer Discretionary,CS Consumer Staples,EGy Energy, FIN Financials,HC Health Care,IND Industrials,IT Information Technology,MAT Materials,TCOM Telecommunications,UTIL Utilitiesb AQ Answered Questionnaire,AQ(L) Answered Questionnaire Late (after analysis cut off date of 10th September 2012)DP Declined to Participate, IN Provided Information,NR Not Responded,NP Non Public,SA See AnotherX Company did not fall into oneof the CDP samples in that year* Company not scored or score not publicc The 2012 score is comprised of the disclosure score number and performance score letter. Only companies that have scored more than 50 for their disclosure score are given a performance score. Companies that have not responded have the relevant response status code in this column. See key b for detailsd Only Scope 3 categories reported using the GreenhouseGas Protocol Scope 3 named categories (as provided inthe Online Response System) are included when determining the number of categories reported. Companies that have reported one or more additional categories of “Other upstream” and/or “Other downstream” are indicated with an asterix (*). Where companies have not provided emissions data or wherethey have not reported a named Scope 3 category according to the GHG Protocol Scope 3 standard, thiscolumn is blank.e Abs Absolute target,Int Intensity target, based on entering a value for “% reduction from base year”KEy TO APPENDIX15Scoring PartnerGold Data Partner & Report WriterConsultancy PartnerScoring Partner for Asia ex-Japan, India, China and South KoreaTo reduce the carbon emissions associated with printing the CDP Asia ex-Japan Climate Change Report 2012, we only reproduce the Forewords, Executive Summary, Leaders and Responding Companies sections in this summary version. The full version of the CDP Asia ex-Japan Climate Change Report 2012 is available at www.cdproject.netIn recognition of its work to catalyze the transition to a profitable low carbon economy, drive greenhouse gas emissions reduction and sustainable water use by business and cities, the Carbon Disclosure Project (CDP) has been awarded the top accolade in the SME & NGO category of the Zayed Future Energy Prize.This document is printed on FSC certified paper.16CDP ContactsAntigone TheodorouBusiness Development Manager, Asia ex-JICKHong KongTel: +852 947 68 678Email: antigone.theodorou@cdproject.netAnthony DaySpecial AdvisorSue HowellsCo-Chief Operating Officer Frances WayCo-Chief Operating Officer Daniel TurnerHead of DisclosureMarcus NortonHead of Investor Initiatives and WaterCarbon Disclosure Project40 Bowling Green LaneLondon EC1R 0NEUnited KingdomTel: +44 (0) 20 7970 5660www.cdproject.netTrucost ContactsLauren SmartExecutive DirectorChaoni HuangHead of Business Development AsiaTrucost Plc22 Chancery Lane, LondonWC2A 1LS, United KingdomTel: +44 (0) 207 160 9800Email: info@trucost.comwww.trucost.comCDP Board of TrusteesChairman: Alan BrownSchrodersJames CameronClimate Change CapitalChris PageRockefeller Philanthropy AdvisorsDr. Christoph SchroederTVM CapitalJeremy SmithBerkeley EnergyTakejiro SueyoshiTessa TennantThe Ice OrganisationDr. Christoph SchroederTVM CapitalMartin WiseRelationship Capital PartnersOur sincere thanks are extended to the following individuals in support of producing the Asia ex-Japan Climate Change Report 2012:CDP – Jenni Hagland, Ji Yeon Kim, Eva Murray, Sarah RobertsonTrucost Plc – Liesel van Ast, Rebecca Edwards, Rebecca Maclean, Aaron Re’em