Our commitment to sustainability and responsible business is based on our purpose and strategy, which along with our sustainable development objectives create the framework for developing the company's activities and products. Wärtsilä’s strategy is based on three key areas, energy efficient solutions, lifecycle optimisation, and innovative solutions, all of which contribute to a more sustainable future in both the energy and the marine industry.
Our strength is our technological leadership and therefore technology plays a central role in our sustainability work. Wärtsilä Energy Solutions and Marine Solutions businesses focus on developing and providing sustainable solutions for the industries in which they operate, whereas Wärtsilä Services has a key role in supporting our solutions and providing the latest technologies for existing installations through upgrades and modernisation packages. The utilization of lifecycle data analytics will enhance our efforts on enabling sustainable societies with smart technology.
Wärtsilä identifies and assesses its sustainability risks on an annual basis. Based on the current assessment, the sustainability risks are considered to be at a moderate level. Generally speaking sustainability can be seen as an opportunity for Wärtsilä.
Wärtsilä’s sustainable development is based on three closely interrelated pillars: economic, environmental, and social performance. In the field of sustainable development, Wärtsilä's overriding focus is on the following:
Environment: environmentally sound products and services
Social: responsible business conduct
For the sustainability reporting purposes Wärtsilä has identified the following topics as material: Emissions, environmental compliance, economic performance, training and education, and occupational health and safety.
The overall management approach of sustainability is presented in the picture Wärtsilä’s sustainability approach. Wärtsilä’s strategy for environmental and social responsibility is presented in the Strategy section. Wärtsilä sets corporate level sustainability targets for the core areas.