Vaisala’s Board of Directors changed the name of its Remuneration and HR Committee to People and Sustainability Committee. The Committee, responsible for instance for people development, remuneration policy, as well as environmental handprint development, has raised the ambition level regarding sustainability and diversity in Vaisala and determined Vaisala Management Group’s short-term incentives (STIs) to include a sustainability target.
Sustainability is at the core of Vaisala business, as our solutions have a positive handprint on global challenges such as climate change. However, Vaisala’s sustainability focus concerns not only environmental but also social sustainability, such as human rights, diversity, and inclusion. These topics are increasingly on management’s agenda both in the Board of Directors and Vaisala Management Group.
The People and Sustainability Committee (previously Remuneration and HR Committee) is one of the committees working under the Board of Directors and consisting of chosen Board members. The Committee focuses on long-term development regarding personnel and now also sustainability to make sure Vaisala’s strategic competences are in line with global future needs. Sustainability and ESG matters (Environmental, Social, and Governance) remain the responsibility of the whole Board but adding them to the Committee’s agenda enhances the Board’s ability to put even more focus on their development.
“The change of the Committee name reflects the fact that Vaisala’s Board of Directors puts special focus on sustainability themes and personnel development. The Committee’s responsibility is to help Vaisala to prepare for the future and review these matters in the light of long-term strategic development. This is also why people and sustainability have been grouped under the same umbrella: they are both ESG matters looking the future and are not only important for Vaisala’s success but also hold intrinsic value in themselves,” comments Ville Voipio, Chair of Vaisala’s Board of Directors as well as People and Sustainability Committee.
Diversity and inclusion are some of the areas where the Committee’s subjects – people and sustainability – are interlinked. Vaisala has increased focus on diversity and inclusion, for instance including them in its anonymous and confidential employee survey to evaluate and follow the situation.
Responsible also for the compensation, performance evaluation, and incentives of top management, the People and Sustainability Committee has decided that starting from 2022, sustainability is integrated into Vaisala Management Group’s STIs. This sustainability target is something that may change annually or over time to reflect Vaisala’s development needs regarding global topics. In 2022, part of the STIs is tied to a diversity target to increase diversity and inclusion in Vaisala.
“Curiosity is the main factor uniting all Vaisala employees, and it is important for our future success and innovative culture that we continue recruiting the very best people and make sure they feel empowered in their work community. Only this way can we remain competitive and an attractive employer in the future. It is part of our values and also part of building a better world. It is a great step to have sustainability and diversity reflected in our targets, and I am happy to see that our whole management is engaged in developing diversity and inclusion in Vaisala,” says Kai Öistämö, President and CEO, Vaisala.
Hanna Ruokomäki, Senior Communications Specialist
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Vaisala is a global leader in weather, environmental, and industrial measurements. Building on over 85 years of experience, Vaisala provides observations for a better world, with space-proof technology even exploring Mars and beyond. We are a reliable partner for customers around the world, offering a comprehensive range of innovative observation and measurement products and services. Headquartered in Finland, Vaisala employs over 1,900 professionals worldwide and is listed on the Nasdaq Helsinki stock exchange.