Risk Assessment Based on Sustainability Aspects

In the sustainability statement, material risks associated with the Group’s own business activities – and business relations or products and services of the Group – which are very likely to occur and which could have serious negative impacts on non-financial topics must be reported. On the basis of the risk analyses performed and in the opinion of Vonovia’s management, there are no non-financial risks subject to a reporting requirement that meet the criteria pursuant to Section 289c (3) Nos. 3 and 4 HGB following application of the net method and taking risk mitigation measures into consideration.

The definition of material reportable risks provided in Section 289c (3) Nos. 3 and 4 HGB differs from that used in the ESRS. Consequently, this sustainability statement reports on all of the risks that are material in accordance with the ESRS, even if they are not considered severe from a HGB perspective.