Wärtsilä Corporation Annual report 2014

Stakeholder relations

Wärtsilä takes active care of its relations with stakeholders by engaging with them in an open and constructive dialogue. Wärtsilä believes that such an approach is essential when developing operations, products and services. At the corporate level, Wärtsilä has defined its most important stakeholders to be its customers, owners, suppliers, employees and society in general. Wärtsilä's subsidiaries define their own primary stakeholders which, in addition to the ones mentioned above, include local residents close to production plants, educational institutes and public authorities. Wärtsilä’s Code of Conduct provides the foundation for the management of stakeholder relations. The priorities in managing stakeholder relations vary within Wärtsilä from one subsidiary to another. Wärtsilä continuously works to enhance its reporting performance, both on its own initiative and in response to feedback from its stakeholders.

 

In order to facilitate this active dialogue with customers, Wärtsilä arranges Customer Days for existing and potential customers at locations in various parts of the world. During these customer days, 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 Ship Power and Power Plants businesses arranged or participated in some 195 industry-related events globally during 2014, including international and national seminars, exhibitions, and conferences. These events were attended by customers, potential customers and other stakeholders, such as investors, consultants, suppliers, students, and other interested parties.

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

 

The long-term HERCULES R&D programme was conceived in 2002, and has been set up within the context of the EU's sixth and seventh Framework programmes. In sharing a joint vision, the two major low- and medium-speed engine manufacturers, Wärtsilä and MAN Diesel & Turbo, have been collaborating with universities, research institutions, and other industrial partners to develop new technologies for marine engines. In the third phase that started in 2012, the HERCULES-C project took marine engine technology a step further towards improved sustainability in energy production and total energy economy. This has been achieved through extensive integration of the new technologies developed in the first two phases, HERCULES-A and HERCULES-B. This challenge was addressed by adopting a combined approach for engine thermal process optimisation, systems integration, engine reliability, and extended lifetime. The particular objectives were:

  • Further substantial reductions in fuel consumption, while optimising power production and usage
  • Near-zero emissions
  • Maintaining the technical performance of engines throughout their operational lifetime

HERCULES-C comprised 47 sub-projects under 10 work packages, involving the complete spectrum of marine diesel engine technology. It was running for three years, from 2012 to 2014, with a total budget of EUR 17 million. The project was made possible by a EUR 9.4 million funding through the European Commission Framework Programme 7. Wärtsilä has, together with the main Hercules consortium partners, been preparing for a continuation of the research programme within the EU’s Horizon 2020 framework. The aim of the work is to ensure joint pan-European long-term research using marine technology solutions to maintain and enhance the competitive advantage of the key European industrial players in the field.

CLEEN Ltd. maintains and develops a world-class open innovation platform for market-driven joint research between industry and academia, and is part of SHOK (Strategic Centres for Science, Technology and Innovation). Wärtsilä participated in the Future Combustion Engine Power Plant (FCEP) research programme under CLEEN, which was started on 1 January 2010 and ended in February 2014. The programme, which had an overall budget of EUR 37.8 million and 17 partners, focused on research topics and development efforts in the areas of reciprocating engine technologies and related power plant technologies. During 2014, CLEEN renewed its strategic research agenda (SRA), and Wärtsilä actively participated in that work. The SRA work led to the identification of strategically important future research aspects in the areas of energy and cleantech under 4 designated themes. New, large research programmes with a high level of technical and scientific expertise are under preparation based on this work.

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 section covering Consultation and information procedures in Group companies.

The open dialogue and discussions with local and international public authorities and officials is aimed at sharing information and supporting authorities so as to improve the quality of regulation. Wärtsilä participates in public consultations in areas that are of importance to the company.

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 Channels of dialogue

Stakeholder  Channel of dialogue  Assessments (Frequency)
Customers  Regular contact with customers, lifecycle support for products, customer events and seminars, customer days, customer magazines, the internet, conferences and exhibitions, product documentation, customer feedback system  System for measuring customer satisfaction and quality (Continual)
Employees  Open and continuous communication between management and employees, annual development discussions, information meetings and internal communications (intranet), employee magazines, training events, national statutory employee bodies and European Works Council, occupational health and safety committees, suggestion system, continuous improvement process (CIP), Technology and Innovation Award, Customer Care Award  Employee satisfaction surveys -MyVoice (Biennial) 
Owners, investors  Management meetings with investors, financiers and analysts, stakeholder magazines, general meetings, information meetings, stock exchange and press releases, annual and interim reports, capital markets days, the internet, investor relations surveys, sustainability questionnaires  Investor relations surveys, sustainability surveys and indices (Annual)
Suppliers  Open and active dialogue between the sourcing organisation and suppliers, supplier portal, supplier development, supplier management system, Supplier Days, Supplier Award  Supplier assessments (Continual)
Society Reporting to, and co-operation with, public officials on issues such as the environment and occupational health & safety, meetings with decision makers, position papers, Open Doors days, sustainability report, corporate presentations, local communications, the internet  Stakeholder feedback (Continual), corporate image surveys (Annual) 
Organisations  Membership, regular contact, participation in activities of local trade and industrial organisations, active role in working groups, contact with various public bodies, e.g. through ministries, reports   
Universities  Opportunities for practical training and degrees, R&D projects, participation in recruitment fairs and seminars, sponsorship of student activities, lectures  Preferred employer surveys (Annual) 
Media National and international business media and journals, trade publications, interviews and press releases, main annual publications, meetings, visits, factory tours  Surveys conducted among business journalists, media surveys, reporting comparisons (Annual) 

 

Activities in organisations

In 2014, Wärtsilä participated in several relevant activities organised by various national and international organisations and associations. The key organisations for Wärtsilä and the nature of Wärtsilä's activities are shown in the table below.

 

Stakeholder Organisation Nature of activity
Interest groups Association for Finnish Work, Confederation of Finnish Industries (EK), Finland Chamber of Commerce (ICC Finland), The Federation of Finnish Technology Industries Membership and participation in activities.
Industrial
organisations
Association of Singapore Marine Industries, Brazilian Institute of Oil and Gas (IBP), Brazilian Thermoelectric Generators Association (ABRAGET), Cogen Europe, Confederation of Indian Industry (CII), Cruise Line International Association (CLIA), EnergyVaasa, Engine Manufacturers Association (EMA), EURELECTRIC, European Association of Engine Manufacturers (Euromot), European Cruise Council (ECC), European Engine Power Plants association (EUGINE), Exhaust Gas Cleaning System Association (EGCSA), Hong Kong Shipowner Association, Indian diesel engine manufacturers association (IDEMA), International Council on Combustion Engines (CIMAC), International shipping association (BIMCO), Verband Deutscher Maschinen- und Anlagenbau (VDMA), WaterBorne TP Board membership and participation in activities of specific working groups (CIMAC, EMA, Euromot, EUGINE).

Membership and participation in activities (ABRAGET, Association of Singapore Marine Industries, BIMCO, CII, CLIA, Cogen Europe, ECC, EGCSA, EURELECTRIC, EnergyVaasa, Hong Kong Shipowner Association , IBP, IDEMA, WaterBorne TP, VDMA).
Standardisation organisations European Committee for Standardisation (CEN), International Organisation for Standardisation (ISO) Participation in activities.
International
organisations
European Sustainable Shipping Forum (ESSF), International Maritime Organisation (IMO), UN Global Compact Nordic Network, United Nations Economic Commission for Europe (UNECE) Participation in activities through national delegations (IMO).

Participation in activities (ESSF, UNECE, UN Global Compact Nordic Network).
Other Cleantech Finland, Finnish Business & Society (FIBS), European Energy Forum (EEF), European Federation for Quality Management (EFQM), Global Reporting Initiative (GRI) Participation in activities.

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