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Stakeholder relations

Wärtsilä takes active care of its relations with stakeholders by engaging with them in an open and constructive dialogue. Wärtsilä considers this approach as 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.

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In order to facilitate active dialogue with its customers, Wärtsilä arranges Customer Days for existing and potential customers at 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 arranged or participated in 230 industry-related events globally during 2016 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 co-operation 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.

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.

Wärtsilä engages in an active and open dialogue also with local and international public authorities and officials. The aim is to share information, provide expertise and support authorities to improve the quality of regulation. Wärtsilä participates in public consultations in areas that are of importance to the company.

 

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 and 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, for example 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 2016, 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 Confederation of Finnish Industries (EK), Federation of Finnish Technology Industries, Finland Chamber of Commerce, International Chamber of Commerce (ICC), ICC Finland Membership and participation in activities.
Industrial organisations Association of Singapore Marine Industries (ASMI), Brazilian Institute of Oil and Gas (IBP), Brazilian Thermoelectric Generators Association (ABRAGET), Cogen Europe,  Confederation of Indian Industry (CII), Cruise Line International Association (CLIA), BIMCO, EnergyVaasa, Engine Manufacturers Association (EMA), European Association of Engine Manufacturers (Euromot), European Engine Power Plants Association (EUGINE), Exhaust Gas Cleaning System Association (EGCSA), Hong Kong Shipowners Association, Indian Diesel Engine Manufacturers Association (IDEMA), International Council on Combustion Engines (CIMAC), Society for Gas as a Marine Fuel(SGMF), Union of the Electricity Industry (EURELECTRIC), Verband Deutscher Maschinen- und Anlagenbau (VDMA), WaterBorne TP, SolarPower Europe Board membership and participation in activities of specific working groups (CII, CIMAC, Cogen Europe, EMA, Euromot, EUGINE, VDMA, WaterBorne TP).

Membership and participation in activities (ABRAGET, ASMI, BIMCO, CLIA, EGCSA, EURELECTRIC, EnergyVaasa, Hong Kong Shipowners Association, IBP, IDEMA, SGMF, SolarPower Europe).
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), Global Compact Nordic Network (GCNN) Participation in activities through national delegations (IMO).
Participation in activities (ESSF, GCNN).
Other Cleantech Finland, Finnish Business & Society (FIBS), European Energy Forum (EEF), Global Reporting Initiative (GRI), Sustainable Shipping Initiative (SSI) Participation in activities.

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