Sustainability Management at Vonovia
Our Understanding of Sustainability
Our business model – the development and rental of high-quality, modern and affordable living space – means that our relationship with social and environmental change processes is one of great interdependence. Sustainability is thus a key component of our corporate strategy. In recent years, we have made great progress in integrating sustainability into the company’s business processes. Vonovia’s understanding of sustainability is published on our Group website.
With the launch of the non-financial performance indicator SPI in 2021, the strategy is linked to clear and remuneration-relevant targets for the Management Board and senior management (the first tier below the Management Board).
The SPI comprises six sub-indicators based on the material topics of Vonovia. They include:
- The CO2 intensity of our housing stock
- Energy efficiency of new buildings
- The proportion of accessible (partially) modernized newly let apartments
- Increased customer satisfaction
- Increased employee satisfaction
- The proportion of women in top management
The SPI for Vonovia achieved an index value of 111% in the reporting year (see Report on Economic Position). For a more detailed description of our sustainable business model, please refer to the chapter entitled Fundamental Information About the Group.
In terms of the direction of its sustainability strategy, Vonovia is also guided by international standards and frameworks, such as the Sustainable Development Goals (SDGs), the UN Global Compact and the United Nations Guiding Principles on Business and Human Rights. As a company with international operations, we aim to contribute to achieving these goals with our business in Germany, Austria and Sweden. To this end, we have identified eight central SDGs that guide our actions (see also the SDG policy on our Group website).
Key SDGs for Vonovia
Sustainability Organization
At Vonovia, sustainability lies at the very top level of management. The individual responsible for the issue of sustainability is the Chief Executive Officer. On the part of the Supervisory Board, the Strategy, Finance and Sustainability Committee, as well as the Audit Committee (for reporting) perform the corresponding control function.
Central coordination of sustainability activities is the responsibility of the Sustainability/Strategy department. Its core duties include, in particular, the further development of the sustainability strategy, the definition and monitoring of sustainability targets, the providing of impetus and the implementation of sustainability projects. It also handles sustainability reporting, which includes not only sustainability reporting within the annual report, but also the preparation of the ESG Factbook and the management of numerous ESG ratings.
A sustainability committee meets three to four times a year – as required – to discuss the overall strategic direction and to evaluate the company’s sustainability performance. The committee comprises the entire Management Board as well as the heads of Sustainability, Corporate Communications, Controlling, Accounting and Investor Relations. This ensures that decisions on the implementation of our sustainability strategy are borne by all relevant divisions and all the way through to local implementation levels.
The operational implementation of sustainability aspects takes place in all relevant departments and in our local neighborhoods in the various regions.
In Austria and Sweden, sustainability coordination is embedded in the relevant staff positions. They coordinate the interaction between the Sustainability/Strategy department and the individual countries, as well as the country-specific sustainability strategies pursued by the Austrian BUWOG companies and the Swedish company Victoriahem.
Sustainability in Vonovia’s Organizational Model
