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ESG Material topics identified

Material topics identified

GRI 3-1
GRI 3-2
GRI 2-29

The materiality analysis supports the Group Executive Board and the management teams 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 the company’s understanding of stakeholder 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.

Bellevue thoroughly revised its materiality matrix during the year under review. Its sustainability reporting is now based on the principle of «double materiality».

Outside in: The impact of sustainability issues on Bellevue’s business operations, reputation or financial success. Here the term «impact» refers to the actual or potential impacts on Bellevue’s business model or value drivers (e.g., sales, cash flow, margins) in the short, medium or long term. For example, Bellevue depends on electricity to operate and it is likely to be significantly affected by rising energy prices.

Inside out: Bellevue’s impact on sustainability issues. Here the term «impact» refers to the actual or potential effect, negative or positive, that Bellevue has or could have on the environment, the economy and on society, including basic human rights, in the short, medium or long term.

To ensure that all of the most important issues for Bellevue are identified, we have taken the following measures:

For the survey, the working group reviewed a list of 150 potential topics, including the topics of the previous year, discussed their relevance to our business and our sector, and drew up a definitive list of 20 topics that were then included in the survey. 200 stakeholders were asked to evaluate the topics on a scale ranging from «no impact» (1) to «very high impact» (5). 57% of the stakeholders contacted completed the survey.

Respondents assessed the materiality of the 20 topics from both an outside-in and an inside-out perspective. Material topics were discussed with senior management during two meetings at which all survey responses were presented and evaluated.

The Group Executive Board made the final decisions to ensure alignment with long-term strategy.

Materiality matrix

Change in material topics from year to year

Material topic 2023

Material topic 2022



Responsible investment

Investing more responsibly / sustainable products

Same content


Climate change

CO2 emissions

Same content


Talent attraction and retention

Employee development and retention

Changed name, includes our strategy for talent attraction, retention, development, safe employment terms and engagement.

Employee engagement

Diversity and inclusion

Diversity and inclusion

Same content


Economic performance

Business performance

Same content

Business Ethics and integrity

Corporate governance and corporate ethics

This governance topic in 2023 is a merge between several identified topics: Ethics, integrity, transparency, corporate governance, compliance, business resilience, risk management and client data protection.


Digitalization and innovation

These are important topics for us, which are addressed by the IT policy, but are not identified as a material topic in 2023.

IT security

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