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. The guiding principle of our Code of Conduct is to promote openness and good interaction with our stakeholders, both internationally and locally.
Activities with stakeholder
Channels of dialogue
Each year, Wärtsilä’s representatives meet customers at global industry-related events, including international and national seminars, exhibitions, and conferences.
Dialogue with employees takes place in many formats. These include discussions, communication channels, meetings, and events. Wärtsilä’s global annual employee engagement survey, MyVoice, enables all Wärtsilä employees to provide feedback. In addition, pulse surveys by business or topic are conducted to provide an opportunity for more regular and focused feedback.
Wärtsilä publishes annually several reports: two interim reports, a half-year report, a financial statements bulletin, an annual report, and stock exchange releases to provide accurate, sufficient, and up-to-date information on the development of Wärtsilä’s business operations, strategy, markets, and financial position. Furthermore, our top management and the Investor Relations (IR) team conduct regular discussions, and host events with analysts and investors, both globally and locally.
We aim to have close and excellent relationships with our key suppliers around the world. Apart from financial benefits, engaging closely with suppliers stimulates knowledge sharing, creates an environment of innovation, and allows strategic suppliers to integrate more strongly into our value chain.
Wärtsilä 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. Wärtsilä aims to contribute towards the well-being of the local communities where it is present. The means for this include, for example, creating employment, providing training and education to employees, co-operating with local stakeholders, and supporting local development.
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 taking part in meetings, seminars and conferences.
For Wärtsilä, long-term research programmes and research activities together with universities, research institutions, and industrial partners are an important means of building strategic partnerships and developing new and existing solutions.
Wärtsilä interacts actively with trade media, as well as with general/financial media. Topics related to our sustainability work are of great interest. We regularly arrange interviews for the media with our experts. Moreover, our experts meet trade press representatives at exhibitions/webinars. Wärtsilä’s quarterly result press events led by the CEO and the Management Team provide basic information about our financial performance and latest reference projects. In addition, we annually distribute to the media numerous press releases on new orders and projects, and also publish Insights stories.
Nature of activity
International and EU organisations