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ESG Sustainability strategy

Sustainability strategy

Sustainability is an important factor in the Bellevue Group’s business strategy. It is the key to securing our long-term success and at the same time creating value for all of our stakeholders. In line with the «triple bottom line» principle, we seek to generate growth while simultaneously taking into account the needs of the environment and society. As an independent asset manager, we are in a position to promote sustainable development to the benefit of all of our stakeholders.

Our sustainability thursts 2030 support our aspiration and was developed as part of our stakeholder engagement process, which also incorporated a materiality assessment.

Sustainability thrusts 2030

Integrating sustainability into our business strategy

The importance of ESG and sustainable investing is now widely recognized. Bellevue Group endeavors to continuously increase and integrate sustainability at corporate as well as portfolio level. Bellevue’s distinctive profile is shaped by its core values – independent, entrepreneurial and committed. They lay the foundation for the sustainable, responsible and values-driven business practices that guide our employees every day and they are absolutely essential for creating long-term value for our stakeholders. Based on these core values, we have established clearly defined, transparent ESG policies and corresponding investment guidelines that integrate binding environmental, social and governance aspects into our standards and conduct.

Preserving the carbon neutrality of our business operations and initiating the net zero process

At the company level, we measured Bellevue’s carbon footprint for the first time in 2021. Business travel, commuting, heating and electricity are the main sources of our carbon emissions, and we have therefore introduced eco-friendly measures in all of these areas. For example, video conferences are now a prioritized form of communication; we give employees financial incentives to commute by public transport; and we use lake water to cool or heat our company headquarters in Küsnacht. Having offset its carbon emissions by supporting top-quality climate projects in Switzerland, Bellevue was certified as a climate neutral company for a second time in 2022. We are also committed to achieving net zero by 2050 and our 2030 climate strategy therefore includes a pledge to reduce our carbon emissions per employee (FTE) by 30%.

Improving gender diversity and fostering inclusion

Bellevue Group values employee diversity and believes this is an integral part of its success as a business. Our approach is founded upon mutual respect and a collaborative work culture across languages, cultures and nationalities. This variety of perspectives and approaches, experiences, ideas and talents leads to innovation and underpins Bellevue’s success on a lasting basis – including its ability to attract qualified specialist personnel.

Goal 2026: Bellevue Group intends to increase the proportion of women on its Board of Directors to a minimum of 30% by 2026.

Anchoring sustainability throughout the investment process

Our Group has embraced sustainability at the portfolio level for years. In fact, Bellevue Sustainable Healthcare Fund – our first dedicated ESG strategy – was launched back in 2018. This was followed in 2021 by our second sustainability fund, Bellevue Sustainable Entrepreneur Europe, which is managed in accordance with internationally recognized ESG quality standards. Within the scope of our ESG integration approach, strict exclusion criteria are applied and environmental, social and governance factors are an integral part of our fundamental research and analysis across all portfolios and funds. At the same time, our experts strive to build climate-friendly portfolios and they maintain an active and constructive dialog on ESG aspects with company executives and relevant stakeholders. Bellevue Asset Management AG is firmly committed to the UN Principles for Responsible Investment (UN PRI) and continuously adapts its ESG investment guidelines to reflect the latest findings.

Sustainability governance

Full integration of sustainability within the strategy is one of the objectives of the Sustainability Plan 2030. Sound sustainability governance is essential for ensuring that we continue to embed sustainability within our business practices and product offer, achieve steady progress towards our sustainability targets, and identify potential opportunities and challenges at an early stage. This requires an organizational framework for the management and monitoring of sustainability issues. The Board of Directors of Bellevue Group and the Group Executive Board play an active role in monitoring and implementing the sustainability objectives and measures. The Board of Directors approves the Group’s sustainability strategy and plan. The Group Executive Board is responsible for the sustainability strategy.

In addition, the sustainability working group is entrusted with managing the implementation and integration of sustainability across all areas of the business. The working group comprises members from various functions, as shown in the graph above. The group monitors the latest developments on the sustainability front and anticipates their impact on the business model of Bellevue Group. It supports the Group Executive Board with formulating and developing the sustainability strategy. The sustainability working group is therefore additionally responsible for managing and implementing projects within the business areas/functions and areas of activity.

Goal 2023: The organization of sustainability activities is further formalized.

Stakeholder engagement

We believe interaction with our stakeholders is crucial to the identification, analysis, planning, setting of priorities and implementation of our sustainability thrusts 2030, as well as to the underlying objectives and measures. That is why we hold regular discussions with internal as well as external stakeholders.

The following stakeholders were included in 2022:





Activities 2022



Shareholders and analysts


Bellevue is in regular contact with its shareholders and analysts, in particular through the publication of its semi-annual and annual results. Investor Relations maintains a constant dialog with investors and analysts through the year. In accordance with the Listing Rules of SIX Exchange Regulation, key business developments are published via media releases or ad-hoc notices on at least two electronic information systems. These announcements are simultaneously published on the corporate website, having been sent to SIX Exchange Regulation in advance. The shareholder notices required under Swiss company law are published in the Swiss Official Gazette of Commerce (SOGC).


• Annual general meeting • Conferences and events • Corporate website • Media releases • Annual and interim reports


• Business performance • Share price performance • Sales developments • Product developments • Sustainability



Employees are given information about business developments, changes within the company and product updates on a regular basis. Communication is via various channels including e-mails and employee information meetings. In addition, Bellevue conducts a group-wide survey every three years to monitor employee satisfaction and commitment as well as ensure employees understand the business. Employee feedback is passed on to the Group Executive Board, which uses the findings to devise concrete measures.


• Survey • Training • Talent management


• Health & safety • Sustainability • Strategy • Next generation

Clients and sales partners


Our clients and partners are served by a committed sales team comprising industry experts. Clients and partners have regular personal contact with their key account manager and receive a regular newsletter containing product and business information. They can also subscribe to a free e-mail service.


• Key account manager relationships • One-to-one meetings • Conferences and events • Complaint handling


• Products • Sustainable products • Client relationships and satisfaction



Bellevue is in constant contact with its suppliers and service providers. Local suppliers and service providers are preferred where possible. Every supplier or service provider is subject to pre-qualification to ensure compliance with the rules, while correspondence continues throughout the business relationship in order to review requirements, make payments and negotiate contracts.


• Assessments • Direct dialog


• Responsible procurement • Traceability

Portfolio companies


In the interests of our investors, best possible corporate performance, role as professional investor, etc. Activities: meetings with company representatives at all levels (top management, board, IR, etc.)


• Management meetings (top management, board, IR) • Proxy voting • Sharing of experience


• Sustainability • Innovation • Costs • Capital structure • Corporate governance

ESG rating agencies


Bellevue uses sustainability research produced by ESG rating agencies MSCI ESG and Sustainalytics for the purpose of integrating ESG into investment processes.


• Meetings • Survey


• Small vs. large caps • Coverage • Rating methodology



In the context of its business activities, Bellevue works with the supervisory authorities to implement updates as well as meet disclosure and regular reporting requirements.


• Sharing of experience • Events • Annual and interim reports


• All ESG-related issues, •reporting standards



Bellevue’s Media Relations unit is engaged in active media relations work with exacting service standards. To ensure balanced reputation management, great importance is attached to the subject of sustainability.


• Key account manager relationships • Assessments


• All ESG-related issues • Corporate developments • Product and sector updates








Material topics identified

The materiality analysis supports the Group Executive Board and the management of the subsidiaries in identifying key sustainability issues by considering the expectations and needs of external and internal stakeholders.

The results of the materiality analysis are used to continuously improve sustainability management by sharpening our understanding stakeholders’ needs and their shifting perceptions of what they regard as material sustainability issues. The materiality matrix forms the basis for managing corporate processes and helps to identify and manage potential opportunities and risks.

Goal 2023: The Sustainability working group will sharpen the stakeholder engagement process as well as review the materiality issues based on feedback from stakeholders.

Materiality matrix

From the materiality matrix, Bellevue derives eight key topics to which it pays special attention and to which it accords increased transparency in the context of sustainability management:

1) Business performance
Sound finances and long-term profitability ensure that Bellevue Group continues to be a reliable, value-adding partner to all of its stakeholder groups.

2) CO2 emissions
Bellevue Group places great emphasis on environmental and climate protection. By 2030 we aim to lower carbon emissions from our business operations by 30% per employee (FTE).

3) Corporate governance and corporate ethics
Bellevue Group AG is aware that sound corporate governance and a clear management structure with defined roles and responsibilities are crucial to the long-term success of the business.

4) Transparency
Corporate governance at Bellevue Group AG complies with internationally recognized standards. The fact that we provide transparent information about our governance enables our stakeholders to monitor the quality of the company and helps investors make their investment decisions.

5) Diversity and inclusion
Diversity and equal opportunities are part of the corporate culture that characterizes the Bellevue Group. That is why we encourage the potential as well as the skills and competence of all of our employees irrespective of their age group.

6) Employee development and retention
The corporate culture of Bellevue Group is founded on mutual respect and trusting relationships. Regular feedback and development discussions as well as the recognition and appreciation of achievement are important prerequisites for corporate success.

7) Employee engagement
To gauge employee satisfaction as well as the need for improvement, Bellevue Group conducts a group-wide employee engagement survey every three years.

8) Digitalization and innovation
Bellevue Group is pursuing digitalization right across the value chain and implementing it in such a way that significant, sustained added value is created for clients and employees alike.

9) IT security
Group-wide standards apply in relation to IT security. IT security at Bellevue Group is closely tied to respective local data protection regulations such as the Swiss Data Protection Act and the EU General Data Protection Regulation (GDPR).

10) Investing more responsibly / sustainable products
By launching new products that meet stricter rules, are particularly eco-friendly and can be processed more simply and securely, Bellevue aims to help its clients meet ever increasing requirements.

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