Sustainability at corporate level

We consider good corporate practices, a binding framework for our organization, and social considerations to be indispensable success factors.

Core values

Based on our core values («independent», «entrepreneurial», «committed»), we maintain a binding framework for our organization and our employees regarding ethical, responsible and sustainable business practices. This ESG policy governs standards and behaviors related to environmental, social and governance aspects.

Corporate practices

We see good corporate practices as a key success factor and an indispensable prerequisite for achieving strategic corporate goals and creating sustainable value for stakeholders. We recognize that business activities inevitably have a direct or indirect impact on the environment, social affairs and governance, and that we are responsible for this.

Environmental practices

Within the framework of our work processes, we attach importance to environmentally friendly practices and ensure this in particular with the following measures:

Energy consumption

At Bellevue Asset Management’s headquarters in Küsnacht/ZH, the building as well as the premises of our data centers are heated and cooled with natural lake water. In 2018 we had energy-efficient windows installed to reduce our energy consumption. Automatic awning systems also help to ensure efficient regulation of the interior building environment.

When procuring electronic devices such as computers, monitors, printers, etc., we make sure to use energy-efficient equipment. Wherever possible, power consumption settings are configured to automatically switch IT equipment, whether entire groups of systems or individual devices, to stand-by mode at certain times. The buildings are only lit when they are in use. We use additional energy consumers such as air conditioners or radiators only for extreme external weather conditions.

Over the weekends, the company premises are only heated to minimum levels.

Transportation and mobility

Our locations are very easy to reach by public transport. Employees are motivated to travel by public transport. The company supports this through financial support by providing a half-fare Travelcard of Swiss public transport free of charge. Parking spaces are not subsidized and are charged at full market rates. Showers and changing rooms are available at company headquarters, which makes commuting to work by bicycle an attractive alternative.

Due to our global investment strategies and distribution activities with employees at different locations, international contacts are important. All locations have a video conferencing infrastructure. Most of the meetings are through telephone and video conferencing as a substitute for physical meetings to limit travel. Where possible and appropriate, we substitute air travel with public transportation such as train travel and coordinate joint site visits.

The Group Executive Board is regularly informed about the travel activities of the employees.

Procurement process

When procuring materials, furniture, food, etc., we consider local suppliers and local products wherever possible in order to reduce the environmental impact. Likewise, when selecting suppliers and service providers, their environmental practices are taken into account. When procuring furniture and other office materials, we pay attention to durability.

CO₂ neutrality

Bellevue Group was certified as a climate-neutral company by Swiss Climate in 2021. By purchasing CO₂ emission certificates in the amount of the greenhouse gas emissions emitted annually, we support projects that remove the same amount of emissions released to the atmosphere. Bellevue Group has selected a project focusing on «Climate protection and sustainable management in the Swiss forest» for climate neutrality in 2021. The project ensures CO₂ storage and sustainable management of 7 279 hectares of forest in the canton of Schwyz. This protects the climate, preserves biodiversity in the Swiss forest and enables the production of energy wood for renewable energy production. As part of the certification, Bellevue Group has set a reduction target of 30% of emissions per FTE by 2030. The CO₂ emissions in 2020 adjusted for COVID-19 effects serve as a basis.

Waste management and recycling

Systems are in place at all sites to collect and recycle a wide range of materials, including cardboard, PET, glass, paper, batteries and IT equipment. We separate waste and dispose of it properly. We take care at the procurement stage to avoid excessive waste or other unnecessary environmental impact (e.g. use of washable dishes instead of disposable cups/plates). In addition, water filtering devices are installed to reduce PET bottle consumption.

Paper consumption is a significant resource for a service company. We take appropriate measures to ensure that paper consumption is constantly reduced and can be replaced by other means (e.g. customer presentations on notebooks/tablets instead of printed handouts, video calls for customer meetings, annual reports printed on FSC paper, shipping only on request). Print programs are initialized so that printouts are two-page and black and white by default.

Environmental indicators

The environmental indicators were determined for the first time in 2021 for the 2020 financial year. In the future, the updated values will be published with the semi-annual financial statements for the following year.

Source: CO₂ report for Bellevue Group AG issued by Swiss Climate AG (November 2021)

Total emissions at a glance

In the future, the 2020 balance with normalized data in the categories commuter trips and business flights will be used as the reference base to assess the efficiency of the measures implemented as part of the climate policy and to show improvements in the CO₂ emissions.

Source: CO₂ report for Bellevue Group AG issued by Swiss Climate AG (November 2021)

Bellevue Group's operations include four focus areas related to CO₂ emissions: Business travel, commuting, heating and electricity. These account for 93% of emissions. The effects of the measures to contain COVID-19 are particularly evident in business travel. Air travel and commuting account for over 85% of CO₂ emissions in a normal year. Since air travel was limited since March 2020 and work from home recommendations or requirements massively reduced commuting, CO₂ emissions in 2020 were reduced by about 65% due to COVID-19. Significantly more business travel is expected from 2022 on.

Social practices

For a service company like Bellevue Group, employees are the most important asset for the company's long-term success.

Employee selection process

The added value that Bellevue creates for its clients is inextricably linked to the expertise, motivation and high level of identification of its employees with the company. Accordingly, we place great emphasis on the careful selection of suitable talent. The suitability of a candidate is usually assessed over several selection stages and assessments. In addition to professional competence, soft skills, team spirit and compatibility with corporate values are also assessed. From the employees’ point of view, the manageable size of the company and the resulting personal contacts are a key success factor. Criteria such as age, religion, origin and gender must not lead to discrimination.

Compensation policy

The following basic compensation principles apply throughout Bellevue Group:

The methods used to determine compensation for the Board of Directors and the Group Executive Board and for all company employees are transparent, understandable, fair and reasonable. All pay packages are well-balanced and take into consideration the operational and strategic responsibilities of each individual role as well as individual performance levels and the demands placed on each individual. Compensation is commensurate with the position held and should reflect individual achievement of specific quantitative as well as qualitative goals as well as the operating results of Bellevue Group and of relevant Group companies. Pay packages should be appropriate and competitive compared to the compensation offered by companies operating in the same field and labor market, and they must be sound and sustainable irrespective of the current course of business. Variable compensation will be reduced or forfeited in the event of serious violations of internal or external rules, regulations or the law (incl. ESG/sustainability policy).

Further information is given in the annual compensation report published by Bellevue Group.

Work culture

We foster a clearly entrepreneurial culture that emphasizes personal responsibility and is distinguished by flat hierarchies and flexibility as regards work hours and work location and even the basic contract hours. The company's organization encourages employees to develop and deploy their professional skills in the best interests of the company’s stakeholders while taking into account their family or personal situations (e.g. by offering part-time employment contracts, IT infrastructure for telecommuting, or support for employee training and development).

Our daily interaction with all employees and the formal employee performance reviews that take place on a regular basis are distinguished by a respectful and responsible conduct. These performance reviews also serve as a general means of personal orientation and as a career planning tool. We support targeted training and development where employees can benefit from constructive and stimulating learning environments, contributing both ideas and funds.

Health

The health and safety of our employees and all people affected by our business activities is our top priority. As an employer, we can have a significant impact on the health of our employees through various measures and support them in remaining healthy and motivated in the long term.

We promote motivation and health through various measures. For example, employees in Küsnacht are offered a breakfast of rolls and fruit every day free of charge. Coffee, tea and other beverages are available at no cost. Furthermore, Bellevue offers employees annual memberships at a professional medical gym and the opportunity to take yoga classes at reduced cost. Acting on their own initiative, employees have organized team sports activities ranging from jogging to stand-up paddle boarding to weekly crossfit workouts.

All workplaces are equipped with height-adjustable desks and have sufficient exposure to natural sunlight.

Employees are offered free annual flu vaccinations conducted onsite at Bellevue's headquarters by an external physician.

The «Bellevue Team Spirit» is promoted and strengthened through regular social events such as joint lunchtime barbecues, summer parties and skiing events in winter.

Analyzing and investing in healthcare companies is an important part of Bellevue. Our experts regularly lecture both internally and externally on current health topics. Discussions on relevant issues (e.g. increases in diabetes due to poor diet and lack of exercise, liver diseases, etc.) stimulate awareness of health among employees.

Equality (diversity, equal opportunities and non-discrimination)

Bellevue Group provides equal employment and advancement opportunities to all individuals regardless of age, race, ethnicity, gender, sexuality, disability, religion or other characteristics. That’s why we benefit from a diverse workforce and the competitive advantages that offers: With their different perspectives and approaches, experiences, ideas and skills, employees inspire each other and learn from each other. As a result, the company gains creativity, innovation and vision to remain future-proof and agile.

We foster a culture of gender equality and promote a balanced mix of gender and age across all hierarchical levels and functions of the company. Employee compensation is periodically reviewed for unjustified differences and adjusted if necessary. The last analysis was carried out in August 2021 using the standard Swiss analysis tool («Logib»). No gender effect was identified.

Both genders should be represented in the executive management board and on the Board of Directors. Discriminatory behavior will not be tolerated; incorrect behavior will be punished by superiors.

People indicators

Diversity indicators 2021

Proportion of women

Gender diversity: The Board of Directors has set the goal of continuously increasing the proportion of women at all levels, particularly at senior management levels, in the company by promoting the development and retention of women.

15 nationalities

Employee stock ownership plan

In the spirit of identification with the company and the entrepreneurial activities of each employee at his or her level, we give employees across all hierarchical levels a share in the success of their own company.

Part of the variable salary components (profit-sharing) are distributed in the form of treasury shares or fund units and remain blocked for a predefined period. In this way, the interests of employees are to a large extent aligned with the interests of investors, shareholders and other stakeholders.

Furthermore, Bellevue periodically offers an employee share ownership program The Board of Directors periodically offers voluntary employee stock ownership plans under which employees are entitled to purchase company shares at a discount to the market price.

The compensation system for Bellevue Group employees is conceived to motivate employees at all operating units to do excellent work. This is «entrepreneurial compensation with commitment» – a meritocratic model. An attractive entrepreneurial profit-sharing bonus is available as variable compensation. This profit-sharing is directly linked to the operational financial performance of Bellevue Group. In addition, part of this variable profit-sharing is paid out in the form of blocked shares and commitments in managed products (credo: «We eat our own cooking»). This approach promotes a long-term performance culture. Further details and numbers are publicly disclosed in the audited annual compensation report of Bellevue Group AG.

Education and training

Lifelong learning is becoming increasingly important. We attach great importance to encouraging employees to take responsibility for their own professional development. Bellevue Group supports its employees in external training courses where this makes sense. These mainly include business-specific qualifications such as CFA, CAIA, etc. as well as language courses. Depending on the educational objective, we also participate in external training courses by releasing working hours and/or providing financial support. The cost of individual one-day seminars is covered in full by the employer. All Bellevue Group employees are regularly required to complete e-learning modules in the area of cybersecurity.

Self-management of company pension fund

Employees’ pension assets are held in a separate pension fund, managed by Bellevue Asset Management AG. Employer contributions are above the legally required minimum. Funds of the pension foundation are also invested in companies and investment funds that we manage. In this way, we underline our own convictions, which we represent to our clients and investors.

Employee perks

In order to succeed, we believe that our employees need to be agile and connected: Employees who depend on the use of a tablet and/or a cell phone for business purposes can, with the approval of their superiors, claim a pro rata reimbursement for the purchase of a tablet and/or a cell phone every two years. The communication and data plans are ordered centrally by Bellevue Asset Management. The corresponding costs are borne by the employer with a minor contribution of the employees in accordance with the expense regulations approved by the cantonal tax office.

Work from home policy

Bellevue Asset Management, as a modern employer, allows its employees to work from home. Employees appreciate the flexibility and the fact that there is less commuting burden as well as an improved work-life balance.

Digitalization

Internal processes are optimized and the use of new technologies is promoted to meet the constantly changing demands of clients and employees. The digital transformation leads to new forms of communication, promotes transparency and efficiency, and is intended to make the entire company more agile in order to ensure the company's long-term competitiveness.

In the course of this ongoing process, several projects and initiatives have been launched: a new integrative portfolio management system offering consistent data management, reporting and risk management on a single platform, a dedicated tool for the private equity team, and the introduction of company-wide communication and working tools.

Donations and charities

Bellevue Group selectively supports a number of organizations devoted to charity, sports, culture, or social issues. We do so out of conviction and therefore generally forgo any public mention of these actions.

Governance practices

As a listed company, we report transparently on governance topics in the annual report as part of our compliance with the Corporate Governance Directive (DCG). An independently audited Remuneration report provides information on compensation paid to the Board of Directors and Group Executive Board. The four-member Board of Directors is international and interdisciplinary in its composition and has in-depth expertise in various areas. An important element of corporate governance is the clearly defined, balanced distribution of responsibilities between the Board of Directors and the Group Executive Board. The country-specific requirements of each location are taken into account. More information is available in Corporate Governance report.