Foreword
Further progress in sustainability strategy execution
To secure the success of our company over the long term and at the same time create value for all stakeholders, we have embedded our 2030 sustainability goals into Bellevue Group’s business strategy.
In 2023 we set ourselves important ESG goals and guideposts and during 2024 we were able to build on our ESG agenda and make further progress. For example, our ESG report now includes a section with data that is relevant to the recommendations of the Task Force on Climate-related Financial Disclosures (TCFD). Here we report on the action Bellevue is taking to mitigate climate change. We also cover opportunities and risks that arise for us along the anticipated path towards a decarbonized/low-carbon and climate-resilient economy.
The updated sustainability materiality matrix from 2023 was reviewed again in 2024 and the results of this review proved the value of the «double materiality» principle we follow. With this concept, we report on the impact that the relevant ESG issues have on Bellevue’s business operations, reputation and financial results while at the same time examining the impact that our business activities have on environmental, social and community issues.
We also strive to protect the long-term, sustainability interests of our investors by making active use of our voting rights at the general meetings of the companies in our portfolios via proxy voting. In 2024, our portfolio managers and analysts participated in 409 general meetings and cast votes on 781 of a total of 804 votable proposals – which represents a high participation rate of 97.1%.
For a services company like Bellevue, employees are critical for its long-term success. We are pleased to note that the employee turnover rate fell back to the targeted range of less than 10% in 2024. We stayed in constant dialog with employees during the course of 2024 and plan to conduct another employee survey in 2025/2026. This is intended to bring employee needs and priorities into the best possible alignment with the goals and demands of our company.
Veit de Maddalena
Chairman of the Board of Directors
Gebhard Giselbrecht
Chief Executive Officer