Sustainability in Vaisala is managed by various guiding principles. The main principles are Vaisala's Code of Conduct, Supplier Code of Conduct, Environmental Policy, Anti-Corruption Policy and Community Outreach Policy, together with a number of practical guidelines as well as quality and environmental standards. Vaisala complies with all national laws and regulations wherever it operates.
Sustainability in Vaisala is seen as threefold. Foremost, we comply with a set of strict methods that are characteristic of a responsible company, and insist on the same standard from our collaborators. Secondly, we derive advantage through our stakeholders by being a responsible actor in society and lastly, we transform markets and customer requirements by creating shared value with sustainable solutions.
The business case for sustainability in Vaisala is primarily founded on a broad portfolio of information services, which entail close partnering with customers; this allows us to provide decision-support systems and services that improve efficiencies in customers' operations. As an example, forecasting renewable energy production has a major impact on energy utilities, displacing vast amounts of fossil fuel and keeping grid operations reliable.
We constantly seek ways in which we can include a sustainability element in our products or services thereby generating added value for our customers and at the same time lessening their environmental impacts through the use of our solutions.
Vaisala's senior management has set an ambition level for the sustainability strategy and formulated a long-term sustainability vision for Vaisala: to become a world-leading sustainable supplier in selected market segments. This requires us to be able to maintain a competitive advantage in our chosen marketplaces and excel in providing sustainable products and services to our customers.
Internal sustainability practices are subject to guidance from the Group's Sustainability Manager in cooperation with all internal stakeholders. The sustainability function resides in the Marketing & Communications function headed by the Chief Marketing Officer who reports to the CEO. In practice, the most important guidance is set out in our Code of Conduct and our other internal policies and emphasized in personnel and leadership training.
The company's operations with the largest impact on our sustainability have been identified as new product development, sourcing, manufacturing, services and maintenance, business travel and employee commuting, Our manufacturing sites follow a certified ISO 14001 environmental management system and periodically report on their environmental performance to the Chief Quality Officer, who reports to the CEO. We do not currently offer monetary incentives for management or personnel to reach specific sustainability targets. Instead, all members of staff are assessed based on not only the job performance but also on how they adhere to the company values.
These are the material aspects that guide Vaisala's sustainability strategy and priorities. We have surveyed our key stakeholders to learn more about how they perceive Vaisala's sustainability work and which aspects they would like to have us pursue further. The materiality assessment below describes which aspects have been determined material and in which parts of the value chain they are relevant. The assessment has been conducted with input from a wide range of Vaisala stakeholders. The list of aspects is the basis for our sustainability strategy and objective setting and reporting.