Anti-corruption policy


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1. Introduction

The purpose of this Policy is to ensure compliance by Wärtsilä Corporation and its subsidiaries worldwide (jointly "Wärtsilä”) with the anti-corruption laws of all the countries in which the Company does or intends to do business.

2. Policy Statement

No Wärtsilä employee or company is allowed, either directly or indirectly, to promise, offer, pay, solicit or accept bribes or kickbacks of any kind.

3. Definitions

Bribe means

  • Offering, promising or giving anything of value to improperly influence another in order to obtain business or some other commercial advantage; or
  • Requesting or accepting anything of value as a reward for or as an inducement to act improperly in relation to the awarding of business.

Bribes can include money, gifts, hospitality, expenses, reciprocal favours, political or charitable contributions, or any direct or indirect benefit or consideration.

Corruption means the abuse of power or position for money or other personal gain. Corruption benefits a few individuals but does a lot of damage to the public good.

Facilitation Payments mean payments that are requested by Government Officials to speed up or perform a routine government action such as:

  • Processing licenses, permits, or other official documents;
  • Processing government paperwork such as visas, customs clearances and work orders; and
  • Providing services such as police protection and mail pick-up and delivery.

Government Officials mean officials of any government department or agency; officials of any public international organisation; political party leaders and officials; candidates for public office; executives and employees of government-owned or government-run companies; anyone acting on behalf of any of these officials; an individual holding a legislative, administrative or judicial position.

4. Scope

Wärtsilä and all its employees are responsible for complying with this Policy and anti-corruption laws as well as the ethical and business standards outlined in the Wärtsilä Code of Conduct.

Each Wärtsilä Business must comply with this Anti-Corruption Policy, which replaces all earlier Policies on the same subject matter. The head of each Wärtsilä Business is responsible for arranging the compliance of this Policy in their respective Business and in their respective organizations.

All managers are expected to monitor continued compliance with the anti-corruption policy and local laws to ensure compliance with the highest moral, ethical, and professional standards.

Wärtsilä expects that its business partners are committed to anti-corruption compliance and maintain the highest level of anti-corruption practices.

This policy applies equally to the private as well as the public sector.

5. Bribes and Corruption

It is forbidden to pay or receive a Bribe whether paid or received directly or indirectly. There is no need for the Bribe to be successful to be viewed as corrupt; the offering of it is enough to amount to a criminal offence.

At Wärtsilä, Bribes and Corruption are forbidden anywhere in the world regardless of local custom.

6. Facilitation Payments

As a matter of Wärtsilä Policy, it is forbidden to make a Facilitation Payment even though in some countries Facilitation Payments may be legal.

7. Gifts and Hospitality – Non-Government Officials

Generally, giving of gifts is discouraged at Wärtsilä. However, corporate hospitality, including meals and entertainment, and appropriate business gifts may, at times, build goodwill in business relationships.

When providing or receiving hospitality or giving or receiving gifts one should consider whether it is appropriate, reasonable and justified under the circumstances. If corporate hospitality or gifts can be seen as Bribes, it will be unlawful and harm Wärtsilä’s reputation. It can also lead to criminal prosecution for those individuals involved as well as Wärtsilä. 

One must not offer or receive gifts and hospitality that could improperly influence, or be perceived to improperly influence, obtaining business or other commercial advantage.

Generally, Wärtsilä employees may offer and provide or accept corporate hospitality or gifts provided the following principles are followed: 

  • Hospitality or gifts are of minor value and not lavish or extravagant, or in excess of generally accepted business practices of the industry and the country;
  • The practice is infrequent.

A good test for acceptable gifts and hospitality is to consider whether the employees offering or accepting hospitality or gifts would be comfortable to discuss the case with the company or corporate management or in the public and this would not cause any embarrassment to Wärtsilä.

Wärtsilä employees must record all given and accepted gifts beyond a monetary value of 300 euro in the Gift Register. Recording is not required so long as the gifts comply with this Policy and are of value less than 300 euro.

Giving or accepting a gift in cash, regardless of the value, is prohibited.

There is no monetary value limit for acceptable hospitality, but examples of acceptable hospitality may include a lunch or dinner or attending to a cultural or a sporting event with a business partner.

8. Gifts and Hospitality – Government Officials

There is an increased risk that the provision of gifts, hospitality and business entertainment to a Government Official could be construed as a Bribe and additional caution must therefore be taken and following rules complied with:

Giving or accepting a gift in cash, regardless of the value, is prohibited.

Other gifts or hospitality offered or given to Government Officials may be considered a Bribe unless the following conditions are met:

  • Hospitality or gifts are of modest nature and not in excess of generally accepted; business practices of the industry and the country;
  • The practice is infrequent.

A good test for acceptable gifts and hospitality is to consider whether the employees offering or accepting hospitality or gifts would be comfortable to discuss the case with the company or corporate management or in the public and this would not cause any embarrassment to Wärtsilä.

Wärtsilä employees must record all given and accepted gifts to and from Government Officials beyond a monetary value of 100 euro in the Government Officials Gifts Register. Recording is not required so long as the gifts comply with this Policy and are of value less than 100 euro.

9. Political Contributions and Charitable Donations

The Wärtsilä companies cannot make political contributions to political parties, party officials and candidates unless Group Vice President, Corporate Relations and Legal has approved such contribution in advance in writing. Political contributions must always be made in accordance with applicable laws. If a political contribution is allowed to be made, our policy is to take appropriate steps to publicly disclose the contribution unless secrecy or confidentiality is required. The Director, Compliance shall be informed and keep record of the political contributions made.

Charitable donations must not be made to improperly influence the recipient or in exchange for any business or other commercial advantage. Moreover, charitable donations and sponsoring cannot be used to circumvent the prohibition for Corruption or Bribes.

10. Third Parties

Particular attention to anti-corruption compliance must be paid when using third parties in business transactions.

To avoid being held liable for corrupt third-party payments, Wärtsilä and any person acting on its behalf must exercise due diligence at all times and take all necessary precautions to ensure that business relationships are formed only with reputable and qualified partners, agents, and representatives.

It is the company policy to require potential brokers, agents, or other sales intermediaries to go through a prequalification process and if prequalified, to sign a written agreement which includes a prohibition of illicit payments, like those related to bribery, money laundering and extortion.

11. Reporting of Violations, Investigations and Disciplinary Actions

Wärtsilä views corruption and bribery very seriously and therefore encourages its employees to voice their concerns as to potential violations of this Policy.

Wärtsilä will investigate reported matters regarding corruption and bribery. A breach of this Policy may result in an employee facing disciplinary action, including termination of employment. Where a case is referred to law enforcement authorities, Wärtsilä will co-operate fully with the investigation. 

12. Anti-Corruption Training

Wärtsilä provides anti-corruption training, as appropriate.

 

© 2021 Wärtsilä