General
Wärtsilä’s vision, mission and core values, together with its solid financial performance, form the platform for sustainable development in the Group. The Group’s Board of Management has made a strong commitment to responsible action and sustainable development by creating a sustainability strategy and by defining its targets.
In order to promote the long-term interests of the Group and its stakeholders, Wärtsilä strives to maintain the highest legal and ethical standards in its business practices as described in this code.
Compliance with the law
Any and all business transactions and other activities of Wärtsilä shall be carried out strictly in compliance with applicable laws and under the requirements of good citizenship in each jurisdiction where such activities take place. This includes, but is not restricted to, laws and regulations on competition, corporate governance, taxation, financial disclosure, employee rights and environmental protection. Strong attention is paid to the integrity of each business transaction.
Openness
As part of its social responsibility engagement Wärtsilä promotes openness and transparency as well as a continuous dialogue with its stakeholders, including customers, shareholders, personnel, suppliers, the media, students and society. Surveys and regular feedback from stakeholders provide guidance for enhancing these relations. It is, however, understood that stock exchange rules and competitive considerations may lead to certain restrictions in this openness.
Wärtsilä maintains constructive co-operation with authorities and regulatory bodies both at local and international levels, e.g. with regard to the development of new environmental abatement technologies.
Respect for human rights
Wärtsilä supports and respects the protection of internationally proclaimed human rights, as defined in the United Nation’s Universal Declaration on Human Rights. Wärtsilä promotes freedom from any discrimination based for example on race, nationality, sex, religion and age, and works for equal opportunities throughout the Group. Employee selection is based on personal qualification for the job in question.
Wärtsilä supports basic labour rights as stated by the International Labour Organization. In this respect the Group upholds the freedom of association and the effective recognition of the right to collective bargaining. In case these rights are restricted by local law, the company endeavours to offer personnel alternative methods to present their views. Wärtsilä does not accept any form of forced and compulsory labour or the use of child labour.
Conflicts of interest
Wärtsilä expects full loyalty from and avoidance of any conflict of interest by all its employees. Consequently, the employees of Wärtsilä must avoid situations where their personal interests may conflict with those of Wärtsilä or Wärtsilä´s stakeholders. This means, for instance, that the employees are not allowed to accept or provide a personal gift or entertainment to a stakeholder, except for a personal gift or entertainment of nominal value accepted or provided on an occasional basis. Any deviation from this shall be subject to the approval of the superior, but this approval shall not be given if it gives rise to a breach of loyalty or a conflict of interest.
No Wärtsilä company or any of its employees may solicit, accept or offer bribes or kickbacks of any kind. This includes money, benefits, services and anything of value. Such payments and favours may be considered bribery, which violates local legislation and internationally recognized principles for combating corruption and bribery.
Environment
Wärtsilä’s target is to develop and produce environmentally advanced solutions and services for its customers that fulfil all their vital requirements. High priority is given to developing systems and services that have low emissions and high efficiency. Efforts are taken to achieve sustainable development by means of raw materials, processes, products, wastes and emissions by making use of the latest technical advances. Wärtsilä applies certified Environment Management Systems based on ISO 14001.
Occupational health and safety
Wärtsilä strives to offer its employees an interesting and exciting working environment where openness, respect, trust and equal opportunities prevail. The company endeavours to create hazard-free workplaces for its employees, contractors and others working in different parts of the corporation by applying high standards of occupational health and safety. The Group also applies such product development and manufacturing processes as well as such quality assurance methods that minimize health and safety risks related to the use of its products and services.
Suppliers
Suppliers are an important and integral part of the total supply chain of the Group. They are expected to conduct their business in compliance with the same high legal, ethical, environmental and employee related standards that Wärtsilä itself applies. Wärtsilä promotes the application of these standards among its suppliers and endeavours to monitor their actions in this respect.
Implementation
The purpose of this Code of Business Conduct is to define Wärtsilä’s ethical way of working in all its activities. The company expects both its management and its employees to comply with the standards set in the code. The code deals with the most important situations that could give rise to legal or ethical problems but must not be seen as being exclusive.
Wärtsilä takes an active approach to the application of this code and promotes its implementation through effective communication of its contents to the employees. Wärtsilä monitors the application of this code internally. The company has, for example, created compliance programmes in certain fields related to the code.
In case questions regarding interpretation or compliance with this Code of Conduct arise, the responsible manager or president of the respective Wärtsilä company should be contacted.
The application of the Code of Business Conduct will be reviewed from time to time by the Board of Management, which may decide on necessary revisions or interpretations.
