About This Report

Content and Structure of the Report

This is our seventh sustainability report. It presents our company’s performance based on financial and non-financial information. The aim of this reporting is to create transparency and comparability for sustainability activities with other companies on the market. This report only covers the activities and services of Vonovia SE and does not include Deutsche Wohnen SE, which was acquired on September 30, 2021. The process of integrating Deutsche Wohnen started in 2022 and is set to be completed by the start of 2023. As part of this integration process, all concepts, due diligence processes and performance indicators will be compared and integrated.

The thematic focal points of the Sustainability Report are the seven action areas that we identified as part of our materiality analysis – in accordance with the requirements of the Global Reporting Initiative (GRI) for the selection of Material Topics:

• Environment and climate
• Sustainable construction and development
• Society and contribution to urban development
• Homes and customers
• Corporate culture and employees
• Governance and responsible business practices
• Future fitness and the capital market

The report is structured according to our sustainability activities, which reflect the material economic, social and ecological aspects of Vonovia SE.

Reporting Framework

This report has been prepared in accordance with the Global Reporting Initiative (GRI) Standards (as amended in 2016) Core option. We have applied more recent versions of individual GRI standards where available. The GRI Universal Standards in the version dated October 2021 do not yet apply. The corresponding GRI Content Index can be found in the appendix to this report. We have informed GRI of the application of the GRI standards and the publication of this report.

Vonovia’s Sustainability Report is published on an annual basis. This reporting period relates to the 2021 fiscal year (January 1 to December 31, 2021), meaning that it picks up exactly where the 2020 Sustainability Report, which was published in May 2021, left off.

As a capital market-oriented company, Vonovia SE is also required to make disclosures in accordance with Sections 315b, 315c in conjunction with Sections 289c to 289e HGB. (Non-financial Group Declaration). The necessary reporting requirements were implemented as part of the management report in the  2021 Annual Report, which was published on March 18, 2022.

In order to address the diverse stakeholder interests transparently and comprehensively, we are also guided – in addition to the GRI – by the EPRA Best Practice Recommendations on Sustainability Reporting (sBPR) (in its third version of 2017). For this purpose, we have prepared a separate EPRA report, which we publish on our website. In addition, for the Real Estate reporting framework of the Sustainability Accounting Standards Board (SASB), we create a mapping of the indicators to the content published in this report.

In this report, we also report on the implementation of the recommendations made by the Task Force on Climate-related Financial Disclosures (TCFD) (see Environment and Climate).

The collection and calculation of environmental key figures was headed by the Controlling department and supported by Facility Management, Portfolio Management, Portfolio Controlling, Technical Service, Vonovia Energie- und Service GmbH, Customer Service, Data Management, Development/New Construction, Business Development, and the Procurement department. The key figures for employees were collected and consolidated by the HR department. The central Procurement department prepared the statements relating to supplier management (procurement). Key figures from the governance area were provided by the Legal department.

Both the Non-financial Group Declaration and the Sustainability Report are audited by the auditor of the annual financial statements, KPMG. The Sustainability Report has been audited with limited assurance (see Independent Auditor’s Report). All references to content outside this report are considered additional information and are not covered by the audit performed by KPMG. Also excluded from the audit procedures are the “project profiles”, which can be found in the substantive chapters of this report. These are clearly marked visually by a border and the heading “Project”. SASB mapping is also excluded from the audit.

Organizational Boundaries/Scope of Consolidation

These key figures focus on the activities of Vonovia SE in Germany, Austria and Sweden using the financial control approach. Deutsche Wohnen SE, which belonged to the Vonovia Group since September 30, 2021, is not included in this report. The process of integrating Deutsche Wohnen started in 2022 and is set to be completed by the start of 2023. Sustainability information can then be reported on a consolidated basis as of the 2022 reporting year. The basic definition of the scope of the Sustainability Report on the consolidated companies is regularly reviewed for the next reporting cycle, and adjusted if necessary.