EMISSIONS ASSURANCE STATEMENT
Ernst & Young Limited 2 Takutai Square Britomart
Tel: +64 9 377 4790 Fax: +64 9 309 8137 ey.com/nz
Auckland 1010 New Zealand PO Box 2146 Auckland 1140
Independent limited assurance report in relation to Vector Limited’s scope 1 and scope 2 greenhouse gas emissions inventory for the year ended 30 June 2017 To the Directors of Vector Limited (‘Vector’), We have carried out a limited assurance engagement in order to state that nothing has come to our attention that causes us to believe that Vector’s Scope 1 and 2 greenhouse gas (“GHG”) emissions inventory (“GHG inventory”) for the year ended 30 June 2017 on page 59 of Vector’s Annual Report, has not been reported, in all material respects, in accordance with the criteria. Our assurance did not include the GHG emissions from the activities under the operational control of PowerSmart NZ Limited and E-Co Products Group Limited. Criteria The following criteria have been applied to the subject matter described above: • Greenhouse Gas Protocol: A Corporate Accounting and Reporting Standard • New Zealand Ministry for the Environment: Guidance for Voluntary Corporate Greenhouse Gas Reporting 2016 (together ‘the criteria’). The responsibility of management The Management of Vector is responsible for the preparation and presentation of the GHG inventory in accordance with the above criteria, and is also responsible for the selection of methods used in the criteria. No conclusion is expressed as to whether the selected methods used are appropriate for the purpose described above. Further, Vector’s management is responsible for establishing and maintaining internal controls relevant to the preparation and presentation of the GHG inventory that is free from material misstatement, whether due to fraud or error; selecting and applying appropriate criteria; maintaining adequate records and making estimates Ernst & Young Limited’s (‘Ernst & Young’) responsibility is to express a limited assurance conclusion in accordance with International Standard on Assurance Engagements (New Zealand) 3000 (Revised) Assurance Engagements Other Than Audits or Review of Historical Financial Information ('ISAE (NZ) 3000') issued by the External Reporting Board of New Zealand. Basis of our statement ISAE (NZ) 3000 requires that we comply with the professional and ethical standards issued by the External Reporting Board of New Zealand, and to plan and perform our engagement to provide limited assurance in order to state that nothing has come to our attention that causes us to believe that the GHG inventory has not been reported, in all material respects, in accordance with the criteria. A limited assurance engagement includes making enquiries and performing analytical procedures and the nature, timing and extent is less than would be undertaken for a reasonable assurance engagement. Consequently, the level of assurance obtained in a limited assurance engagement is substantially lower than the assurance that would have been obtained had a reasonable assurance engagement been performed. The procedures performed depend on our judgement including the risk of material misstatement of the GHG inventory, whether due to fraud or error. In developing our understanding of the subject matter we developed an understanding of management’s internal controls over the preparation of the GHG inventory in order to design assurance procedures that are appropriate in the circumstances, but not for the purpose of expressing a conclusion as to the effectiveness of Vector’s internal control over the preparation of the GHG inventory. Our procedures did not include testing controls or performing procedures relating to checking aggregation or calculation of data within IT systems, which would have been performed under a reasonable assurance engagement. We believe that the evidence we have obtained is sufficient and appropriate to provide a basis for our limited assurance conclusion. that are reasonable in the circumstances. Ernst & Young Limited’s responsibilities
A member firm of Ernst & Young Global Limited
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Vector://AR 17
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