Stagnant Markets and Rising Competitive Pressure: Europe’s Car Manufacturers in Crisis

On 7 May 2026, we participated as Co-Partner at the Finanz und Wirtschaft «Beyond Sustainability» Forum – one of Switzerland’s leading specialist events on sustainable investing. This year’s forum was held under the theme «From Wishful Thinking to Reality» and brought together top experts from the financial industry, business and academia.

An Event with Impact

The «Beyond Sustainability Forum» has established itself as a key meeting point for senior investment decision-makers, portfolio managers, ESG specialists and senior advisors from banks, asset managers, family offices and pension funds. This year, the conference once again took place at the renowned Gottlieb Duttweiler Institut in Rüschlikon – a venue that has stood for forward-looking thinking for decades.

The programme ranged from keynotes and group workshops to several parallel panel discussions. Topics such as the energy transition, the circular economy, nuclear power, the value of sustainability reporting and the role of active ownership shaped the day. As Co-Partner, we were not only present, but were able to actively contribute to the substantive debate.

Andres Gujan on the Panel

A particular highlight of the day was the panel discussion entitled «Sustainable Investing – Where is the Added Value for Clients?». Our portfolio manager and co-founder Andres Gujan took part as an invited guest, representing the perspective of an impact investing-focused asset manager.

Joining him on stage were Melanie Beyeler (Global Head Sustainable Investing, EFG International), Matthias Bachmann (CIO, Lumen Capital) and Dr. Lars Kaiser (Group Head Sustainability, VP Bank AG) – moderated by Dimitri Senik, CFA, CFA Society Switzerland.

Key Takeaways from the Discussion

The conversation was characterised by open, practice-oriented debate. The following central insights emerged from the exchange:

From ESG to Impact: Investor interest is increasingly shifting away from classical ESG criteria towards the actual impact a company has in the world. An impact-oriented approach is gaining significant ground over simply ticking sustainability boxes.

Sustainability starts at the top: True sustainability requires strong and convincing leadership that credibly lives its sustainable values. Corporate governance is therefore not a footnote, but a prerequisite for meaningful impact.

Economic viability as a foundation: Sustainability must be economically viable. Long-term value is only created when positive impact is grounded in resilient business models that enable sustainable returns – for investors and for society alike.

Performance and sustainability are not mutually exclusive: Financial performance is not a contradiction to sustainability, but an integral part of it. This conviction is a cornerstone of our investment approach at Carnot Capital.

The panel’s conclusion: sustainability today is more than an add-on. While it has become part of the business model of many successful companies, the financial industry in many places still treats the topic too much in isolation.

This finding goes to the heart of what has driven us at Carnot Capital since our founding in 2007: the conviction that impact and financial quality are not opposites, but mutually reinforcing.

Thank You and Looking Ahead

We would like to warmly thank the Finanz und Wirtschaft Forum for the valuable collaboration and the opportunity to be part of this inspiring event. The Beyond Sustainability Forum is an important place of exchange for us – with like-minded people, with critical voices and with those who want to actively shape change.

As a Swiss impact asset manager specialising in energy and resource efficiency, we are proud to help shape this dialogue. We are already looking forward to the next «Beyond Sustainability Forum» next year.