E1-6 – Gross Scopes 1, 2, 3 and Total GHG emissions
Gross GHG Emissions, Scopes 1, 2 and 3
Gross GHG Emissions, Scopes 1,2 and 3 | |||||||||||||||||||
Retrospective | Milestones and target year** | ||||||||||||||||||
Base year 2021 | 2024 | 2025 | % 2025/2024 | ||||||||||||||||
Total | Total | Thereof continuing operations | Total (continuing operations) | Total | 2026 | 2030 | Annual % target/Base year | ||||||||||||
Scope 1 GHG Emissions | |||||||||||||||||||
Gross Scope 1 GHG total emissions (t CO2e) | – | 548,394 | 539,867 | 530,690 | 98.30% | – | – | ||||||||||||
Percentage of Scope 1 GHG emissions from regulated emission trading systems (in %) | – | – | – | – | – | – | – | ||||||||||||
Scope 2 GHG Emissions | |||||||||||||||||||
Gross location-based Scope 2 GHG emissions (t CO2e) | – | 341,016 | 335,518 | 356,108 | 106.14% | – | – | ||||||||||||
Gross market-based Scope 2 GHG emissions (t CO2e) | – | 302,463 | 296,965 | 270,290 | 91.02% | – | – | ||||||||||||
Significant Scope 3 GHG Emissions | |||||||||||||||||||
Total gross indirect (Scope 3) GHG emissions (t CO2e) | – | 1,057,399 | 1,054,582 | 904,891 | 85.81% | – | – | ||||||||||||
Purchased goods and services | – | 170,748 | 170,748 | 143,033 | 83.77% | – | – | ||||||||||||
Capital goods | – | 132,075 | 132,075 | 78,556 | 59.48% | – | – | ||||||||||||
Fuel and energy-related activities (not included in Scope 1 or Scope 2) | – | 208,451 | 205,634 | 197,948 | 96.26% | – | – | ||||||||||||
Upstream transportation and distribution* | – | – | – | – | – | – | – | ||||||||||||
Waste generated in operations* | – | – | – | – | – | – | – | ||||||||||||
Business traveling* | – | – | – | – | – | – | – | ||||||||||||
Employee commuting* | – | – | – | – | – | – | – | ||||||||||||
Upstream leased assets* | – | – | – | – | – | – | – | ||||||||||||
Downstream transportation* | – | – | – | – | – | – | – | ||||||||||||
Processing of sold products* | – | – | – | – | – | – | – | ||||||||||||
Use of sold products | – | 48,557 | 48,557 | 15,511 | 31.94% | – | – | ||||||||||||
End-of-life treatment of sold products* | – | – | – | – | – | – | – | ||||||||||||
Downstream leased assets | – | 497,568 | 497,568 | 469,843 | 94.43% | – | – | ||||||||||||
Franchises* | – | – | – | – | – | – | – | ||||||||||||
Investments* | – | – | – | – | – | – | – | ||||||||||||
Total GHG Emissions | |||||||||||||||||||
Total GHG emissions (location-based) (t CO2e) | – | 1,946,809 | 1,929,967 | 1,791,689 | 92.84% | – | – | ||||||||||||
Total GHG emissions (market-based) (t CO2e) | – | 1,908,255 | 1,891,414 | 1,705,871 | 90.19% | – | – | ||||||||||||
- *Not significant.
- **The combined GHG reduction targets for 2030 and 2045 can be found in section E1–4.
Greenhouse gases included in the calculation: CO₂ equivalents (greenhouse gases regulated in the Kyoto Protocol CO₂, CH₄, N₂O, SF₆, PFC and HFC).
Sources of emission factors for calculating emissions from the combustion of fossil fuels and location-based emissions for Scope 1, Scope 2 and Scope 3.3: GEMIS 5.1, Federal Ministry of Environment Germany, Federal Ministry of Environment Austria and Swedenergy (Swedish non-profit organization).
As actual measured values for the relevant reporting year are not available at the required time, we calculate the emissions on the basis of the valid energy performance certificates of the individual buildings. The energy consumption of those buildings that do not have energy performance certificates is extrapolated based on the age of the building and corresponding average values based on the rest of the portfolio.
The model calculates life cycles for all processes and scenarios, i.e., it takes into consideration all material steps from primary energy/raw material extraction to effective energy/material provision and also includes the auxiliary energy and cost of materials to produce energy plants and transport systems.
Vonovia does not have any GHG emissions that are subject to regulated emission trading systems.
For the extrapolation, measures and circumstances are considered as precisely as possible. The GHG emissions for the base year reported in the presentation of the GHG emission reduction targets and greenhouse gas balance (see E1-4 and E1-6) include Deutsche Wohnen’s portfolio. When determining Scope 3 emissions for the upstream and downstream value chain, we use average data or proxies:
- The GHG emissions for Scope 3.1 are calculated using emission factors derived from representative measures in the German housing industry by the German Real Estate Economics Institute (Institut für Immobilienökonomie (IIÖ)) on behalf of the housing industry association VdW Rheinland. For the base year 2021, this process was only applied to Vonovia’s portfolio at that time due to limited data availability.
- GHG emissions for Scope 3.2 are determined using emissions factors based on the building construction type, which were developed through a comprehensive life cycle assessment of a reference house conducted by a specialized architecture firm.
Even though extrapolations and average emission factors can lead to certain deviations, these methods help to reduce uncertainties and offer a well-founded basis for the analysis. The degree of accuracy is already high due to the use of actual measures and the high degree of detail inherent to model house calculations.
Market-based emission factors were used to determine Scope 2 emissions from district heating where these were available in qualified form. Otherwise, location-based emission factors were used. In the 2025 fiscal year, market-based emission factors accounted for 71% in relation to district heating supply. An emission factor of zero was used to determine Scope 2 emissions from electricity consumption (market-based), as the corresponding energy volumes are sourced from green electricity. In 2025, 78% (previous year: 85%) of the green electricity was covered by guarantees of origin, while 22% (previous year: 15%) was sourced through a power purchase agreement (PPA, for electricity from renewable wind energy).
The GHG emissions (Scope 1 and 2) indicated include all fully consolidated companies. Emissions from companies in which Vonovia holds a minority interest are to be allocated to Scope 3.15 Investments in accordance with the GHG Protocol. This category has not been classified as significant.
Scope 3 greenhouse gas emissions were mainly calculated based on emission factors from recognized databases. Primary data from suppliers or other partners in the value chain was not used.
Vonovia has defined the following Scope 3 categories as significant:
- Scope 3.1 Purchased goods and services: GHG emissions from the production and installation of building materials and materials for maintenance, energy-efficient modernization, “Optimize Apartments” measures and heating system replacement. GHG emissions are calculated using emission factors created by external experts on the basis of typical measures taken by various companies in the housing industry. The emissions were calculated by multiplying the corresponding units of the measures implemented (modernized m² of living area) by the relevant emission factors.
- Scope 3.2 Capital goods: GHG emissions from the production of building and other materials used for the new buildings completed in the fiscal year in question. GHG emissions are calculated using an in-house Excel tool for the integrated calculation of greenhouse gases, primary energy requirements and circularity (ÖBIGK) throughout the life cycle, which calculates the emissions using a reference house approach for various types of construction. The generic emission factors of the German Federal Institute for Research on Building, Urban Affairs and Spatial Development (BBSR) are used for the individual materials and components used in the various types of building construction.
- Scope 3.3 Fuel and energy-related emissions (not Scope 1 and 2): GHG emissions from the upstream chain of energy sources not reported as Scope 1 or Scope 2 emissions (e.g., for the extraction and transportation of fuels or the production and transportation of electricity and district heating) – both for the wholly owned housing stock and for apartments owned by Vonovia that belong to a residential property owners’ association (WEG) (their Scope 1 and 2 emissions are reported as Scope 3.13 emissions).
- Scope 3.11 Use of sold products: GHG emissions from the operation of newly constructed residential units sold in the relevant fiscal year (provision of heat and warm water) over a lifespan of 50 years (in line with the recommendation of the Association of German Housing and Real Estate Companies (GdW)). Declining GHG intensity of district heating and electricity is assumed over the course of the property’s useful life. This matches the assumed trend for the company’s own portfolio.
- Scope 3.13 Downstream leased assets: GHG emissions generated from household electricity used by customers in their homes for electrical appliances (excluding general electricity or electricity required for heat and warm water). The corresponding electricity consumption is estimated based on a method developed at sector level, since real data is not available to the landlord. User electricity for commercial units was extrapolated based on average values for types of use. The national emission factor for electricity is used to calculate emissions (location-based). In addition, GHG emissions are taken into account. These result from the supply of heating and warm water to rental units that are owned by Vonovia and belong to a residential property owners’ association (WEG).
The following Scope 3 categories have been classified as insignificant:
- Scope 3.4 Upstream transportation and distribution: partly included in categories 3.1. and 3.2, emission level not material
- Scope 3.5 Waste: emission level not material
- Scope 3.6 Business travel: emission level not material
- Scope 3.7 Employee commuting: emission level not material
- Scope 3.8 Upstream leased assets: n/a
- Scope 3.9 Downstream transportation and distribution: Vonovia does not sell any products that are transported
- Scope 3.10 Processing of sold projects: Vonovia does not sell any products that are processed further
- Scope 3.12 End-of-life treatment of sold products: emission level not material
- Scope 3.14 Franchises: n/a
- Scope 3.15 Investment: emission level not material
Vonovia does not currently have or finance any projects of its own aimed at decomposing or storing greenhouse gases, nor does it contribute to such projects in the upstream or downstream value chain. We are currently assessing which appropriate measures will be implemented in the future to achieve net-zero emissions.
Vonovia does not use any in-house CO₂ pricing system. External statutory CO₂ prices and assumption regarding their future development are included in the internal financial feasibility calculations.
GHG Intensity per Net Revenue
GHG Intensity per Net Revenue | ||||||||
2024 | 2025 | % 2025/2024 | ||||||
Total | Thereof continuing operations | Total (continuing operations) | Total | |||||
Total GHG emissions (location-based) per net revenue (t CO2e/€ million) | 261 | 273 | 266 | 97.4% | ||||
Total GHG emissions (market-based) per net revenue (t CO2e/€ million) | 256 | 267 | 253 | 94.7% | ||||
Net Revenue for the Calculation of Greenhouse Gas Intensity
Net Revenue for the Calculation of Greenhouse Gas Intensity (€ million) | |||||||
2024 | 2025 | ||||||
Total | Thereof continuing operations | Total (continuing operations) | |||||
Net revenue used to calculate GHG intensity | 7,464 | 7,080 | 6,746 | ||||
Net revenue (other) | – | – | – | ||||
Total net revenue (financial statements) | 7,464 | 7,080 | 6,746 | ||||