Sustainability at Board of Directors level
BB Biotech AG is a listed investment company and thus subject to supervision and regulation by the SIX Swiss Exchange. As an investment company, its sole purpose is to manage the company’s assets on behalf of its investors. Sustainability at the Board of Directors level focuses primarily on the investment strategy, the organization of the group and the guidelines and instructions to the investment manager. BB Biotech AG’s Board of Directors considers good business practices, a binding policy for the investment company and social issues to be indispensable success factors.
Good business practice & Governance
It is of significant importance to BB Biotech that the internal processes of the company itself as well as those delegated to Bellevue Asset Management drive good business practices with respect to compliance with laws and regulations, data protection as well as distribution and interaction with stakeholders. The Board is aware that activities will inevitably have direct or indirect consequences on environmental, social and corporate governance issues and that these consequences are their responsibility.
Corporate governance is an integral component to the business of BB Biotech AG (the Company). The Board of Directors is committed to implement corporate governance policies which are aligned with the size and complexity of the Company’s activities. We ensure transparency for our shareholders by disclosing the articles of incorporation, the organizational regulations as well as Audit Committee Charter and Remuneration and Nomination Committee Charter on our website. The Corporate Governance report is intended to supplement the annual report with regards to corporate governance policies and implementation of these policies in our business. As BB Biotech AG is listed on the Swiss, German, and Italian stock exchanges, the Company is required to comply with the rules and regulations that apply to each of these markets.
Diversity and inclusion
BB Biotech’s focus on having a diverse Board of Directors is key to attract members with a wide range of backgrounds, working experiences and networks, whilst ensuring that they also have the relevant experience to oversee investments in such a technical and highly regulated field as biotechnology. This diversity together with an inclusive meeting environment secures the definition of investment guidelines and monitoring of those in line with the long-term strategy of the company in the interest of the shareholders.
Human rights
BB Biotech is well aware that the Company itself and the portfolio companies it is invested in have and follow a strong human rights protection framework. All of BB Biotech´s investments are systematically reviewed for sustainability risks and breaches of elementary human rights on the basis of MSCI ESG data. In case of possible flags, discussions would be immediately taken up with the portfolio companies and, if necessary, the investment reconsidered.
Investment strategy
During the investment selection process BB Biotech relies on the well-established experience of its Board of Directors and the fundamental analyses by the experienced management team of Bellevue Asset Management, with access to a network of physicians and specialists for the sectors in question. The Board of Directors considers all ESG dimensions in the definition of the investment guidelines.
Outlook
In order to improve our governance structure in terms of sustainability, the Board of Directors has decided to introduce a «Sustainability and Governance Committee». Roles and responsibilities as well as the constitution will be defined after the annual general meeting. Committee members together with a committee charter will be made public in 2022.