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Every day, Cory transforms London's residual waste into enough electricity to power 200 000 homes. But energy generation is only one part of the story. The company is developing new ways to accelerate the transition to a more circular, low-carbon economy. In this interview, we explore how.

In Engelberg, sustainable energy is not a distant vision, but a lived reality. Heizwerk Engelberg delivers district heating, replacing fossil fuels with renewable local energy. Having been awarded the Energiestadt¹ label since 2011, the municipality continues to lead by example.

With emerging market economies on track to represent 60% of global GDP this year, a shift is on its way to reshape the world of fixed income. Emerging Markets Investment Grade (EM IG) credit has evolved into a resilient, high-quality asset class built on stronger fundamentals and greater diversification than ever before — a segment, investors can no longer afford to ignore.

The high-yield bond indices in USD and EUR delivered in year-to-date 2025 a total return¹ of 7.8% and 4.8%, respectively. Considering current low spread levels but elevated macro risks, high-yield bonds in the upper-tier segment are considered an attractive option for buy-and-hold-investors throughout the credit cycle.

The Swiss National Bank (SNB) is keeping its key interest rate at zero; the risk of negative interest rates seems to have been averted for the time being. However, market interest rates are likely to rise gradually over the next few years. The Swiss franc bond market, with higher risk premiums, is more attractive than international bonds in the same rating segment. Mortgage investments are currently also a good option, as they offer a better return than traditional Swiss bonds.

Emerging market currencies have posted strong gains since the beginning of the year, driven by efforts to diversify away from US assets.