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  • This is Wärtsilä OpenClose subpages
    • CEO review
    • Wärtsilä in brief OpenClose subpages
      • Corporate strategy
      • Our targets OpenClose subpages
        • Financial targets
        • Sustainability targets
      • The value of sustainable innovations
      • Sustainability highlights
    • Energy solutions OpenClose subpages
      • Operating environment
      • Strategy
      • Energy Solutions and sustainability
      • Energy Solutions' development in 2015
    • Marine Solutions OpenClose subpages
      • Operating environment
      • Strategy
      • Marine Solutions and sustainability
      • Marine Solutions' development in 2015
    • Services OpenClose subpages
      • Operating environment
      • Strategy
      • Services and sustainability
      • Services' development in 2015
    • Manufacturing review
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  • Sustainability OpenClose subpages
    • Wärtsilä's sustainability approach
    • Stakeholder relations
    • Sustainability management OpenClose subpages
      • Guiding principles OpenClose subpages
        • Code of Conduct
        • QEHS Policy
        • Employee practices
      • Management approach OpenClose subpages
        • People management
        • Environmental management
        • Occupational health and safety
        • Responsible business conduct
        • Product design principles
        • Supply chain management
    • Sustainability data OpenClose subpages
      • Economic OpenClose subpages
        • Economic performance
        • Market presence
      • Environment OpenClose subpages
        • Materials
        • Energy
        • Water
        • Emissions
        • Effluents and waste
        • Products and services
        • Expenditures
      • Social OpenClose subpages
        • Structural changes
        • Employment
        • Labour / management relations
        • Occupational health and safety
        • Training and education
        • Diversity and Equal opportunity
        • Product and Service Labelling
      • Compliance
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      • Materiality assessment
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  • Governance OpenClose subpages
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      • Annual General Meeting
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      • Operations of the Board of Directors
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      • The President & CEO and the Deputy CEO
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      • Values and the control environment
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    • Risks and risk management OpenClose subpages
      • Strategic risks
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  • Investors OpenClose subpages
    • Shares and shareholders OpenClose subpages
      • The Wärtsilä share on Nasdaq Helsinki
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    • Wärtsilä on the capital markets
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      • Financial information 2016
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  • Board of Directors' report OpenClose subpages
    • Highlights 2015
    • Strategy
    • The year 2015 OpenClose subpages
      • Market development
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      • Strategic projects, acquisitions joint ventures and expansion of the network
      • Research and development, product launches
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    • Market outlook
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  • Financials OpenClose subpages
    • Five years in figures
    • Calculations of financial ratios
    • Consolidated financial statements OpenClose subpages
      • Consolidated statement of income
      • Consolidated statement of comprehensive income
      • Consolidated statement of financial position
      • Consolidated statement of cash flows
      • Consolidated statement of changes in equity
      • Accounting principles for the consolidated financial statements
      • Notes to the consolidated financial statements OpenClose subpages
        • 1. Segment information
        • 2. Acquisitions
        • 3. Disposals
        • 4. Long-term construction contracts and operating and maintenance agreements
        • 5. Other operating income
        • 6. Material and services
        • 7. Employee benefit expenses
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        • 10. Financial income and expenses
        • 11. Income taxes
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        • 13. Intangible assets
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        • 16. Available-for-sale financial assets
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        • 18. Financial assets and liabilities by measurement category
        • 19. Other receivables
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        • 24. Provisions
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        • 26. Other liabilities
        • 27. Derivative financial instruments
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        • 29. Related party disclosures
        • 30. Auditors' fees and services
        • 31. Exchange rates
        • 32. Subsidiaries
        • 33. Financial risks
    • Parent Company financial statements OpenClose subpages
      • Parent company income statement
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      • Accounting principles for the parent company
      • Notes to the parent company financial statements OpenClose subpages
        • 1. Other operating income
        • 2. Personnel expenses
        • 3. Depreciation and amortisation
        • 4. Financial income and expenses
        • 5. Extraordinary income and expenses
        • 6. Income taxes
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        • 8. Non-current receivables
        • 9. Current receivables from Group companies
        • 10. Prepaid expenses and accrued income
        • 11. Shareholders' equity
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        • 13. Accrued expenses and deferred income
        • 14. Liabilities to Group companies
        • 15. Collateral, contingent liabilities and other commitments
        • 16. Related party loans and other commitments
        • 17. Auditor's fees and services
    • Proposal of the Board
    • Auditor´s report
    • Quarterly figures 2014-2015

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Annual Report 2013

q4 2013

q3 2013

q2 2013

q1 2013

Annual Report 2014

q4 2014

q3 2014

q2 2014

q1 2014

Annual Report 2015

q4 2015

q3 2015

q2 2015

q1 2015

q1 2016

q2 2016

q1 2016

q2 2016

q3 2016

q4 2016

Annual Report 2016

Materiality assessment

Identified material aspects and boundaries

Entities included in the organization's consolidated financial statements (G4-17)

The entities included in Wärtsilä’s Consolidated Financial Statements are listed in the Notes to the Consolidated Financial Statements 32. Subsidiaries.

All the Group companies are included in Wärtsilä’s Sustainability reporting. The report covers Wärtsilä's businesses. At the company level, the report includes the parent company and its subsidiaries as well as its manufacturing, service and sales units. The report excludes Wärtsilä's associated companies, joint ventures, and supply chain companies.

Process for defining report content and aspect boundaries (G4-18)

Wärtsilä's Sustainability Reporting 2015 is prepared according to the GRI (Global Reporting Initiative) sustainability Reporting Guidelines (G4) and the Reporting Principles for Defining report content. This report has been prepared in accordance with the G4 sustainability reporting procedures defined by the Global Reporting Initiative (GRI). The report corresponds to the ‘Comprehensive’ level in the G4’s reporting framework. This means that our reporting covers all the Standard Disclosures of the G4 framework and all the sustainability aspects we have identified as material in our operations.

In 2014, Wärtsilä updated the assessment of material sustainability topics. The process included an assessment of economic, environmental, and social aspects from the stakeholders’ point of view and as an impact to Wärtsilä’s business. Stakeholder views were collected through a questionnaire answered by 96 key stakeholder contacts in various Wärtsilä units and functions worldwide. The aim of the stakeholder questionnaire was to evaluate how important different sustainability aspects are for assessments and decision-making of Wärtsilä’s stakeholders. Sustainability aspects for the stakeholder evaluation were identified based on Wärtsilä’s previous experience on material sustainability topics, industry peer review, and analysis of significant economic, environmental and social impacts in Wärtsilä’s value chain. Focus on stakeholder assessment was in investors and financiers, major customers, personnel, local societies, and media.

The significance of identified aspects was then analysed as a current or potential business impact on Wärtsilä. The business implications of identified sustainability aspects were evaluated based on direct financial impacts as well as risks and opportunities. In addition the level of internal policies or practices were used as an indication of potential business impact.

As a result of the materiality assessment, the following aspects were identified as material for Wärtsilä:

  • Environmental impacts of Wärtsilä’s products and services
  • Compliance with laws and regulations
  • Economic impacts to stakeholders
  • Personnel skills and development
  • Anti-corruption and –bribery, and
  • Occupational health and safety

In addition to the identified material aspects Wärtsilä discloses sustainability data on several other areas, because they are frequently asked by Wärtsilä’s stakeholders or they are considered important on the basis of continuity of sustainability reporting.

Aspect boundaries for the identified material aspects were then evaluated in reflection to the sustainability context that is based on the significance of their economic, environmental, and social impacts in our value chain. A more detailed description of the aspect boundaries and completeness of data collection for the identified material aspects can be found in the G4-20 Aspect boundary within the organisation and G4-21 Aspect boundary outside the organisation.

Material aspects (G4-19)

From a sustainability impact point of view, product-related environmental issues are the most significant for Wärtsilä. The use of Wärtsilä’s products has an environmental impact both locally and globally. Other dimensions of sustainability mainly have a local impact.

Sustainability impact Local Global
Economic icon-gri-black-dot.png  
- Product related icon-gri-black-dot.png icon-gri-black-dot.png
- Operational icon-gri-black-dot.png  
Social icon-gri-black-dot.png  

The following GRI G4 aspects have been identified as material for Wärtsilä’s sustainability reporting:

Category Aspects Identified material aspect for Wärtsilä, reported in accor-
dance with GRI G4
Other aspects included in Wärtsilä Sustainability Reporting Excluded from Wärtsilä Sustainability Reporting*
Economic    Economic performance icon-gri-black-dot.png    
Market presence   icon-gri-black-dot.png  
Indirect economic impacts     icon-gri-black-dot.png
Procurement practices     icon-gri-black-dot.png
Environmental                        Materials   icon-gri-black-dot.png  
Energy   icon-gri-black-dot.png  
Water   icon-gri-black-dot.png  
Biodiversity     icon-gri-black-dot.png
Emissions   icon-gri-black-dot.png  
Effluents and waste   icon-gri-black-dot.png  
Products and services icon-gri-black-dot.png    
Compliance icon-gri-black-dot.png    
Transport     icon-gri-black-dot.png
Overall   icon-gri-black-dot.png  
Supplier environmental assessment   icon-gri-black-dot.png  
Environmental grievance mechanisms   icon-gri-black-dot.png  
Labor practices and decent work         Employment   icon-gri-black-dot.png  
Labour/management relations   icon-gri-black-dot.png  
Occupational health and safety icon-gri-black-dot.png    
Training and education icon-gri-black-dot.png    
Diversity and equal opportunity   icon-gri-black-dot.png  
Equal remuneration for women and men     icon-gri-black-dot.png
Supplier assessment for labour practices   icon-gri-black-dot.png  
Labour practices grievance mechanisms   icon-gri-black-dot.png  
Human rights            Investment     icon-gri-black-dot.png
Non-discrimination     icon-gri-black-dot.png
Freedom of association and collective bargaining     icon-gri-black-dot.png
Child labour     icon-gri-black-dot.png
Forced and compulsory labour     icon-gri-black-dot.png
Security practices     icon-gri-black-dot.png
Indigenous people     icon-gri-black-dot.png
Assessment   icon-gri-black-dot.png  
Supplier human rights assessment     icon-gri-black-dot.png
Human rights grievance mechanisms   icon-gri-black-dot.png  
Society        Local communities   icon-gri-black-dot.png  
Anti-corruption icon-gri-black-dot.png    
Public policy   icon-gri-black-dot.png  
Anti-competitive behaviour   icon-gri-black-dot.png  
Compliance icon-gri-black-dot.png    
Supplier assessment for impacts on society     icon-gri-black-dot.png
Grievance mechanisms for impacts on society   icon-gri-black-dot.png  
Product responsibility     Customer health and safety   icon-gri-black-dot.png  
Product and service labelling   icon-gri-black-dot.png  
Marketing communications     icon-gri-black-dot.png
Customer privacy     icon-gri-black-dot.png
Compliance icon-gri-black-dot.png    
* Several Compliance-related indicators under the excluded GRI aspects have also been included in the reporting in order to supplement a comprehensive description of the overall importance of compliance to Wärtsilä.

Wärtsilä’s sustainability reporting provides a full standard disclosure of the management approach and performance indicators defined by the GRI G4 Guidelines.

Aspect boundary within the organisation (G4-20)

The aspect boundary for the material aspects is all Wärtsilä companies. The economic performance data covers all Wärtsilä companies. The data on environmental and social performance covers all Wärtsilä companies except the following:

  • Wärtsilä Operations Guyana Inc.
  • Wärtsilä Yuchai Engine Co. Ltd.
  • Wärtsilä Egypt Power S.A.E
  • Wärtsilä Tanzania Ltd.
  • Wärtsilä Muscat LLC
  • L-3 Marine Systems International's units, acquired during the financial period 2015:
    • Funa International Oy
    • Wärtsilä SAM Electronics Nederland B.V.
    • Wärtsilä ELAC Nautik GmbH
    • Wärtsilä SAM Electronics GmbH
    • Wärtsilä FUNA International GmbH
    • Wärtsilä APSS Srl
    • Wärtsilä Lyngsø Marine A/S
    • Wärtsilä Valmarine AS
    • Wärtsilä FUNA International Inc.
    • Wärtsilä Dynamic Positioning Inc.
    • Wärtsilä SAM Electronics (Taizhou) Co. Ltd.
    • Wärtsilä Marine Systems Korea Co Ltd.

These companies will be included in Wärtsilä's sustainable development reporting in the forthcoming years. Wärtsilä's Sustainability Reporting is an integrated part of its annual reporting, and therefore Wärtsilä publishes its sustainability data annually.

Coverage of operational data

Operational data, % of Wärtsilä companies
  2015 2014 2013 2012 2011
Economic 100 100 100 100 100
Environmental 83 94 93 79 92
Social 100 100 93 79 92
Operational data, % of personnel
  2015 2014 2013 2012 2011
Economic 100 100 100 100 100
Environmental 91 98 99 94 98
Social 100 100 99 94 98
Operational data, % of product manufacturing
  2015 2014 2013 2012 2011
Economic 100 100 100 100 100
Environmental 95 100 99 93 100
Social 100 100 99 93 100
Aspect boundary outside the organisation (G4-21)

Wärtsilä’s Sustainability Report does not cover performance data collected outside the Group companies.

Explanation of the effect of any re-statements of information provided in earlier reports (G4-22)

There are no major restatements of information provided in previous reports.

Significant changes from previous reporting periods (G4-23)

There are no significant changes from previous reporting periods in the reporting scope and aspect boundaries. Historical data covers all entities that were part of the Group at the end of each reporting period.


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