Financial Report 2000

Greenpeace 'Worldwide' Combined Summary Financial Statements

Greenpeace International Combined Summary Financial Statements

Preparation of the Greenpeace 'International' combined summary financial statements

These combined summary financial statements have been derived from the financial statements of Stichting Greenpeace Council and other affiliated Greenpeace organisations but excluding the Greenpeace national offices.

The financial statements have been prepared in accordance with International Accounting Standards.

Income and expenditure are accounted for in the year to which they relate. On the basis of prudence, income is only recognised to the extend that it is received.

Individual Greenpeace International organisations' financial statements have been translated into euros. The local currency amounts of income and expenditure have been translated at average rates for the years concerned. Balance sheet items have been translated at the year-end rates for the years concerned. The resulting translation gain or loss is recognised in the fund balance.

Fixed assets are stated at cost less depreciation. Depreciation is provided to write-off the cost of fixed assets over their useful lives. Ships are not further depreciated than their residual value.

Balances and transactions between Greenpeace International organisations have been eliminated. Balances receivable from Greenpeace national offices are subject to assessment of their collectibility.

All expenditure categories include salaries, direct costs and allocated overheads (eg building costs, depreciation). Organisational support includes the costs of the following departments: information technology, legal, human resources, finance, governance and executive director.

Auditor's Report
KPMG Accountants, Amsterdam, June 2001

We have audited the financial statements of Greenpeace International, Amsterdam, for the years ended 31 December 2000 and 1999, from which the combined summary financial statements set out on this page were derived, in accordance with International Standards of Auditing. In our report dated 21 June 2001 we expressed an unqualified audit opinion on the financial statements from which these combined summary financial statements were derived. These financial statements are the responsibility of Greenpeace International management.

In our opinion, the combined summary financial statements set out on this page are consistent, in all material respects, with the financial statements from which they were derived.