Stakeholder relations

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Active engagement with our stakeholders is vital for the development of our business activities, as well as for exchanging information, building long-lasting relationships, and contributing to the building of sustainable societies.

At the corporate level, we have defined our most important stakeholders as being our customers, owners, suppliers, employees, and society in general. Wärtsilä subsidiaries define their own primary stakeholders. In addition to the ones mentioned above, these typically include residents close to production plants, educational institutes, and public authorities. Wärtsilä’s Code of Conduct and supporting policies provide the foundation for the management of stakeholder relations.


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Stakeholder engagement

Wärtsilä engages with its stakeholders in numerous ways to encourage and maintain active and open dialogue, and to seek innovative future solutions.

For existing and potential customers, Wärtsilä arranges Customer Day events at different locations in various parts of the world. During these events, subjects of topical interest from both local and global perspectives are reviewed, and existing and future needs and challenges are discussed. In addition to Customer Days, the Marine Solutions and Energy Solutions businesses arrange, or participate in, hundreds of global industry-related events annually, including international and national seminars, exhibitions and conferences. These events are attended by customers, potential customers, and other stakeholders, such as investors, consultants, suppliers, students, and other interested parties

Long-term research programmes and partnerships are an important means of enhancing open dialogue and co-operation with key industry players and important research institutions. Wärtsilä has actively initiated and participated in the development and work of several research partnerships, both locally and internationally. 

Dialogue with employees takes place in many formats. More information about the procedures and processes to support active and engaging dialogue with Wärtsilä employees is described in the Consultation and information procedures in Group companies section under the Policy on human rights, equal opportunities and fair employment practices.

Wärtsilä also engages in an active and open dialogue with local and international public authorities and officials. The aim is to share information, provide expertise, and support authorities in improving the quality of regulatory matters. Wärtsilä participates in public consultations in areas that are of importance to the company.
 
Stakeholder Channels of dialogue Assessments
Customers
  • Regular meetings
  • Joint projects
  • Workshops, events and seminars
  • Dedicated communications
  • Corporate websites, social media channels
  • Conferences and exhibitions
  • Customer feedback system  
  • Customer satisfaction surveys (Continual)
  • Quality surveys (Continual)
Employees
  • Open and continuous dialogue between management and employees through internal events, communication channels and daily interaction
  • Annual development discussions
  • Check-in discussions and continuous feedback
  • Town hall meetings
  • Internal communication channels
  • Training events
  • National statutory employee bodies and the European Works Council
  • Occupational health and safety committees
  • Collaborative innovation platform Spark
  • Compliance reporting
  • Continuous Improvement Proposals (CIP) and Initiatives
  • Employee engagement survey MyVoice (Annual)
  • Pulse surveys (ad hoc, 1-4 times a year) 
Owners, investors
  • Management meetings with investors, financiers, and analysts
  • Annual General Meetings
  • Capital Markets Days
  • Roadshows
  • Stock exchange and press releases
  • Annual and Interim Reports
  • Corporate websites, stakeholder magazines and newsletters
  • Investor relations surveys (Annual)
  • Sustainability surveys and indices (Annual)
Suppliers
  • Regular dialogue with suppliers on supplier performance
  • Supplier portal eTool
  • Supplier development support
  • Supplier Days
  • Supplier assessments and audits (Continual)
Society
  • Engagement with public officials on issues such as the environment and occupational health and safety
  • Meetings with decision makers
  • Position papers and consultations
  • Open door days
  • Sustainability reporting
  • Local communications
  • Sponsorships
  • Corporate websites, newsletters, social media
  • Stakeholder feedback (Continual)
  • Corporate image surveys (Annual) 
Organisations
  • Regular contact with trade and industrial associations and public bodies
  • Participation in boards and working groups
  • Meetings, seminars, conferences and other events
  • Internal assessment of memberships (Continual)
Universities
  • R&D and student projects
  • Discussions with university administration
  • Thesis work and internships
  • Events, seminars, lectures
  • Preferred employer surveys (Annual)
  • Feedback from student and research projects (Continual)
Media
  • Briefings
  • Site, factory and reference visits
  • Stock exchange, corporate and trade press releases
  • Management and expert interviews
  • Annual and Interim reports
  • Stakeholder magazines, newsletters, social media
  • Surveys conducted among business journalists (Annual)
  • Media visibility and share of voice reporting (Quarterly)

Activities in organisations

Wärtsilä takes part, and holds memberships, in organisations that are significant to the company’s business strategies and markets. We participate in activities organised by various international and national organisations and associations through our daily work, board and working group activities, as well as meetings, seminars and conferences.

Key organisations for Wärtsilä and the nature of Wärtsilä’s involvement in these organisations at the end of 2019 are presented below.

Stakeholder Organisation Nature of activity
Interest groups
  • Confederation of Finnish Industries (EK)
  • Finland Chamber of Commerce
  • ICC Finland
  • International Chamber of Commerce (ICC)
  • Teknologiateollisuus – Federation of Finnish Technology Industries
  • Membership and participation in activities: Finland Chamber of Commerce, ICC.
  • Board membership or participation in activities of specific working groups: EK, ICC Finland, Teknologiateollisuus.
Industrial organisations
  • American Public Power Association (APPA)
  • Association of Singapore Marine Industries (ASMI)
  • Brazilian Institute of Oil and Gas (IBP)
  • Brazilian Thermoelectric Generators Association (ABRAGET)
  • Caribbean Utilities Association (CARILEC)
  • Cogen Europe
  • Cruise Line International Association (CLIA)
  • Engine Manufacturers Association (EMA)
  • European Association of Engine Manufacturers (Euromot)
  • European Engine Power Plants Association (EUGINE)
  • Exhaust Gas Cleaning System Association (EGCSA)
  • Interferry
  • International Council on Combustion Engines (CIMAC)
  • SEA\LNG
  • Power to X Alliance
  • Society for Gas as a Marine Fuel (SGMF)
  • U.S. Energy Storage Association (ESA)
  • Verband Deutscher Maschinen- und Anlagenbau (VDMA)
  • WaterBorne TP
  • Board membership or participation in activities of specific working groups: CARILEC, CIMAC, Cogen Europe, EMA, Euromot, EUGINE, SEA\LNG, VDMA, WaterBorne TP.
  • Membership and participation in activities: ABRAGET, APPA, ASMI, CLIA, EGCSA, ESA, IBP, Interferry, Power to X Alliance, SGMF.
Standardisation organisations
  • International Organisation for Standardisation (ISO)
  • Finnish Standards Association (SFS)
  • Participation in activities.
International and EU organisations
  • Digital Transportation Logistics Forum (DTLF)
  • European Ports Forum (EPF)
  • European Sustainable Shipping Forum (ESSF)
  • Global Compact Nordic Network (GCNN)
  • Global Industry Alliance (GIA)
  • International Maritime Organization (IMO)
  • Participation in activities through national delegations and other organisations: IMO.
  • Participation in activities: DTLF, EPF, ESSF, GCNN, GIA
Other
  • Climate Leadership Coalition (CLC)
  • European Energy Forum (EEF)
  • Finnish Business & Society (FIBS)
  • Board membership: CLC.
  • Membership and participation in activities: FIBS, EEF.
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