Sustainability governance

Wärtsilä is strongly committed to sustainability. Our purpose and values, together with a solid financial performance, form the basis for sustainable development within the company. We apply global guiding principles, such as the Quality, Environmental, Health & Safety policy (QEHS policy) and the Code of Conduct, which, together with the our values, ensure a harmonised way of working towards sustainable development. Our management approach covers procedures, processes, and systems to manage and monitor material topics.  

Sustainability is governed by the Board of Directors and the Board of Management. The Board of Directors oversees the implementation of the sustainability strategy and reviews major related issues on at least an annual basis. Wärtsilä’s Board of Management has overall responsibility for sustainability performance and approves the guiding group-level policies. Wärtsilä's sustainability targets and their progress are reviewed by the Board of Management and Board of Directors at least twice a year. All the targets have nominated target owners, who prepare action plans, oversee the implementation, and report on the proceedings. The management teams of the businesses and global functions ensure execution of the target actions.

In addition to the Board of Management's weekly and monthly meetings, there are nine thematic Boards as well as quarterly Business Reviews and Functional Reviews for each Global Function three times a year. Sustainability issues are discussed under the Corporate Affairs Board, which is sponsored from the Board of Management by the Executive Vice President, Corporate Relations and Legal Affairs, and in Functional reviews. Sustainability-related issues for the Corporate Affairs Board meetings are prepared in the cross-functional Corporate Relations and Sustainability Committee.

Wärtsilä’s sustainability function is responsible for providing the necessary information to management, identifying development needs, as well as for coordinating sustainability programmes and preparing instructions. The function cooperates closely with the businesses, human resources, legal affairs and compliance, and central supply management. It also collects and consolidates sustainability data from the subsidiaries.

Our clearly defined responsibilities are supported by necessary instructions and trainings relating to, for example, the Code of Conduct, anti-corruption, environmental, and occupational health and safety issues. We monitor our sustainability performance by utilising the information provided by various sustainability tools and activities, such as internal audits and compliance processes.