Independent Assurance Report
To the Board of Management of Wärtsilä Oyj Abp
We have been engaged by the Board of Management of Wärtsilä Oyj Abp (hereafter: Wärtsilä) to provide limited assurance on Wärtsilä’s Sustainability Information in the electronic Wärtsilä Annual Report 2015 from the reporting period 1.1.–31.12.2015.
The sustainability information subject to the limited assurance engagement (hereafter: the Sustainability Information) includes data and text presented in the following sections presented in Wärtsilä’s Annual Report:
- The “Sustainability” -section and its sub-sections
- The following sub-sections of the “This is Wärtsilä” –section: “CEO review”, “Wärtsilä in Brief”, “Corporate strategy”, “Sustainability targets”, “Value of sustainable innovations”, “Sustainability highlights”, “Energy Solutions and Sustainability”, “Marine Solutions and Sustainability”, “Services and Sustainability” and “Research and Development”
- The GRI-G4 indicators included in the Governance section
- The data and text in the “Stories” section specifically marked with “Sustainability Assured 2015”.
The Board of Management of Wärtsilä is responsible for the preparation and presentation of the Sustainability Information in accordance with the Global Reporting Initiative (GRI) Sustainability Reporting Guidelines G4.
Our responsibility is to carry out a limited assurance engagement and to express an independent conclusion on the information subject to the assurance. We have conducted the engagement in accordance with the International Standard on Assurance Engagements (ISAE) 3000 (Assurance Engagements other than Audits or Reviews of Historical Financial Information). We apply the international quality standard ISQC1 and accordingly maintain a comprehensive system including documented policies and procedures. We also comply with the independence and other ethical requirements of the Code of Ethics for Professional Accountants issued by the International Ethics Standards Board for Accountants. We do not accept or assume responsibility to anyone other than Wärtsilä for our work, for this assurance report, or for the conclusions we have reached.
Limitations of the engagement
Data and information related to sustainability are subject to inherent limitations applying to data accuracy and completeness, which are to be taken into account when reading our assurance report. The presented Sustainability Information is to be considered in connection with the explanatory information on data collection, consolidation and assessments provided by Wärtsilä. Our assurance report is not intended for use in evaluating Wärtsilä’s performance in executing the sustainability principles Wärtsilä has defined. To assess the financial position and performance of Wärtsilä, the Wärtsilä audited Financial Statements for the year ended 31 December 2015 is to be consulted.
The work performed in the engagement
Our assurance procedures are designed to obtain limited assurance on whether the Sustainability information is presented in accordance with the Global Reporting Initiative (GRI) Sustainability Reporting Guidelines G4 in all material respects. A limited assurance engagement consists of making inquiries, primarily of persons responsible for the preparation of the sustainability information presented, and applying analytical and other evidence gathering procedures, as appropriate. The evidence gathering procedures mentioned above are more limited than for a reasonable assurance engagement, and therefore less assurance is obtained than in a reasonable assurance engagement.
In our engagement we have performed the following procedures:
- Interviews with two members of senior management to reassert our understanding of the connection between Wärtsilä’s sustainability procedures and Wärtsilä’s business strategy and operations as well as sustainability objectives;
- An assessment of the Sustainability Information´s conformity with the principles of the G4 guidelines for defining content and reporting quality;
- An assessment of coverage of the material aspects selected for the Sustainability Information and the definition of reporting boundaries in the context of Wärtsilä’s business operations and sector;
- An assessment of data management processes, information systems and working methods used to gather and consolidate the presented Sustainability Information, and a review of Wärtsilä’s related internal documents and guidelines;
- Comparison of Sustainability Information to underlying rules of procedure, management and reporting systems as well as documentation;
- A review of the presented Sustainability Information, including the performance data and assertions, subject to the engagement, and an assessment of information quality and reporting boundary definitions;
- Assessment of data accuracy and completeness through a review of the original numerical information received from Wärtsilä’s subsidiaries as well as through samples the Group’s information systems;
- Assessment of the local reporting processes of Wärtsilä’s subsidiaries on a sample basis through a three site visits and four video conferences, conducted to Wärtsilä sites selected on the basis of a risk analysis taking into account both qualitative and quantitative information.
Based on the assurance procedures performed, nothing has come to our attention that causes us to believe that the information subject to the assurance engagement is not presented in accordance with the Global Reporting Initiative (GRI) Sustainability Reporting Guidelines G4 in all materialrespects.
Helsinki, 5. February 2016
KPMG OY AB
Authorized Public Accountant
Senior Manager, Advisory