Sustainability Governance

Belimo's strong governance standards extend to sustainability, ensuring regulatory compliance and supporting long-term value creation for all stakeholders.

The Organization and its Reporting Practices

Organizational Details and Reporting Scope

BELIMO Holding AG, headquartered in Hinwil (Switzerland), is the ultimate parent company of the Belimo Group and the Group’s only publicly listed entity. It is traded on the SIX Swiss Exchange (ISIN CH1101098163).

This Sustainability Report covers all entities under Belimo’s control for the 2025 reporting period, in alignment with the scope of the Consolidated Financial Statements.

ESG Reporting Scope 'Full': The full set of Global Reporting Initiative (GRI) indicators is disclosed for all major production (P), logistics (L) and customization (C) sites across the Group. This scope is intended to ensure coverage of at least 95% of total resource consumption.

ESG Reporting Scope 'Restricted': Entities without significant production, logistics or customization activities are not considered material for the indicators disclosed in GRI 302-1, GRI 302-3, GRI 302-4, GRI 305-1, GRI 305-2, GRI 305-4, GRI 306-1-4, GRI 303-1-5 and GRI 403-9.

Europe, Middle East, and Africa (EMEA)

Americas

Asia Pacific

Belimo's sustainability disclosures are based on the aggregated figures from each legal entity. The effects of non-controlling interest are excluded due to the current structure of the Group and for materiality considerations. Entities acquired or sold during the reporting year are included from the date Belimo gains control and excluded once control is lost.

Reporting Period, Frequency and Contact 

The sustainability reporting period aligns with the financial reporting period, covering January 1 to December 31, 2025 for BELIMO Holding AG and all subsidiaries. Belimo discloses its non-financial information on sustainability annually.

The Group Chief Financial Officer and the Head of Investor Relations are the designated contact persons for enquiries about the report:

Dr. Markus Schürch, CFO / Stephan Gick, Head of Investor Relations
Brunnenbachstrasse 1
8340 Hinwil (Switzerland)

Phone +41 43 843 61 11
E-mail ir@belimo.ch

External Assurance

Ernst & Young Ltd (EY) provided limited assurance on selected disclosures and indicators (including GHG emissions) in this Sustainability Report. Details can be found in the Independent assurance report. All assured figures are marked with Data externally assured (limited assurance). EY is the external independent auditor of Belimo for the consolidated financial statements and related notes, along with the Remuneration Report. 
Belimo also holds certifications in accordance with the international standards for environmental management (ISO 14001), quality management (ISO 9001), and occupational health and safety (ISO 45001). Its sites undergo regular audits from the Swiss Association for Quality and Management Systems (SQS) and the China Quality Certification Center (CQC) in China.

Governance Structure and Composition

Highest Governance Body

The Board of Directors of BELIMO Holding AG is Belimo's highest governing body. It sets strategic objectives and allocates resources needed to achieve them. The Board of Directors has established three committees to facilitate the achievement of its strategic objectives: the Audit Committee, the Remuneration and Nomination Committee, and the Strategy Committee.

As at December 31, 2025, the Board consists of eight non-executive members (December 31, 2024: seven members).

The Corporate Governance Report provides details on the non-delegable powers of the Board of Directors, as required by the Swiss Code of Obligations and the Articles of Incorporation. It also discloses information on board tenure, gender, competencies relevant to the impact of the organization, stakeholder representation, significant external roles and commitments, governance structure, board committees, and the composition of the highest governance body.

Nomination and selection: In accordance with the Articles of Incorporation, the Board of Directors is elected individually and for the duration of one year, at the Annual General Meeting. The Board establishes its own procedures, in accordance with legal and statutory requirements. The Chair, the Deputy Chair and the members of the Remuneration and Nomination Committee are elected at the Annual General Meeting for a one-year term, which concludes on the day of the Annual General Meeting. In accordance with the Articles of Incorporation, the Swiss Code of Best Practice for Corporate Governance (published by economiesuisse), the regulation of the Swiss stock exchange (SIX Swiss Exchange), and the Swiss Code of Obligations, Belimo nominates new Board members. Key selection criteria include:

• Qualifications: Alignment with the Group’s needs and existing board composition.
• Diversity: Adding to a mix of professional and personal backgrounds.
• Personality: Strong character and integrity.
• Independence: Freedom from conflict of interest.

Chair of the highest governance body: The Board of Directors comprises non-executive members. None have held operational roles at Belimo during the three financial years preceding the reporting period, nor do they – or the companies they represent – have any material business relationship with Belimo. The acting Chair is an independent, non-executive member of the Board of Directors, elected by shareholders of BELIMO Holding AG.

Role in overseeing and managing sustainability: The Board of Directors sets the strategic goals of the Group and delegates operational management to the Chief Executive Officer (CEO). Together with the Executive Committee, the CEO prepares the strategic and financial plans and the budget, which the Board reviews prior to approval. Regarding the Environmental-, Social- and Governance- (ESG) related topics, the Board serves as the highest authority responsible for the corporate strategy.

The Board implements a comprehensive system for monitoring and controlling the risks associated with the business. A Company-wide risk assessment is carried out annually using a systematic risk management methodology. Risks and opportunities related to climate and sustainability are evaluated and monitored as an integral part of this process. An independent audit firm – proposed by the Audit Committee and appointed by the Board – provides objective internal audits to ensure compliance with applicable laws, regulations, and internal policies and procedures.

Delegation of responsibility for operational management of sustainability: The Board has delegated the operational management to the CEO. The CEO is authorized to delegate further powers and responsibilities to specific members of the Executive Committee. ESG topics are overseen by the Executive Committee, which is advised and guided by the Head of Group Sustainability. Sustainability initiatives are operationalized by the Sustainability Program Team comprising representatives from all the main Belimo departments.

Role in sustainability reporting: The Audit Committee of the Board of Directors is responsible for reporting and ensuring compliance regarding ESG topics. The Sustainability Report has been reviewed and approved by the Board of Directors. It is published as part of the integrated Annual Report on February 23, 2026.

Sustainability expertise: The members of the Board bring broad expertise in sustainability. In 2023, two Board members, Sandra Emme and Ines Pöschel, completed the ESG Designation Certificate for Board Members, a program tailored to board-level ESG education. Furthermore, the Group Sustainability Team provides information to the Board on matters relevant to its collective knowledge in sustainable development.

Evaluation of performance: The Board conducts an annual self-evaluation of its work and that of its committees, in line with the recommendations in the Swiss Code of Best Practice for Corporate Governance published by economiesuisse. It then discusses the results and ensures implementation of the findings.

Remuneration: Belimo publishes an annual Remuneration Report that outlines its remuneration governance, policy, and the remuneration paid. Board members receive fixed remuneration with no performance-related component. The fees are paid 60% in cash and 40% in non-discounted shares of BELIMO Holding AG subject to a three-year restriction period. For the Executive Committee, 70% of the variable remuneration is linked to financial key performance indicators and 30% to non-financial strategic business objectives, Belimo’s Balanced Scorecard (BSC) Index.

The Remuneration and Nomination Committee oversees the compensation process and consists of at least two, currently three, non-executive members of the Board. The Remuneration and Nomination Committee is assigned the following duties in support of the Board of Directors and recommends to the Board of Directors for approval or, as the case may be, proposal to the AGM:

• The remuneration policy, the performance targets and key performance indicators of the Company at the highest corporate level, i.e. for the Board of Directors and the members of the Executive Committee, in accordance with the Articles of Incorporation.
• Motions to the AGM related to the maximum amounts of remuneration of these governing bodies.
• The individual amounts of remuneration for the members of the Board of Directors within the limits approved by the AGM.
• The proposed Remuneration Report to the Board of Directors.

At the 2025 Annual General Meeting of BELIMO Holding AG, the results of the votes on the Remuneration Policy and the proposed resolutions were as follows:

The election results of the members of the Remuneration and Nomination Committee were as follows:

Conflict of interest

The Board adheres to Belimo’s Code of Conduct, which stipulates that conflicts of interest are to be consciously avoided and decisions are to be taken in the best interests of the Company, free from personal interests.

Should a conflict of interest arise, the Board member concerned must immediately inform the Chair. Belimo takes appropriate action when such situations occur, which may include requiring the member to abstain from business discussions or decisions.

No material conflicts of interest were reported to the Chair in 2025 or the previous year.

Critical Concerns

The Board of Directors holds at least six ordinary meetings per year. At each meeting, the Board receives updates on business developments, major strategic initiatives, and sustainability topics. Furthermore, the Board receives regular written updates on the Company's performance, potential risks, and changes in senior management. In addition, the CEO informs the Chair of the Board of any critical business matters. No critical concerns relating to the Company's affairs were communicated to the Board in 2025 or the previous year.

Annual Total Compensation Ratio

In 2025, the ratio of the annual remuneration of Belimo’s highest-paid employee to the median annual compensation of all employees (excluding the highest-paid employee) based on average full-time equivalent (FTE) was 19.75 (2024: 15.13).

While the total compensation for the highest-paid employee increased, the median compensation for all employees (excluding the highest-paid employee) decreased in 2025 compared to 2024.

In 2025 and 2024, the highest remuneration was paid to Lars van der Haegen, CEO.

Collective Bargaining Agreements

In total, 6.4% (2024: 7.2%) of all employees are covered by collective bargaining agreements. For employees not covered by such agreements, the working conditions and terms of employment are governed by local labor law regulations.