Corporate Governance, Compliance and Anti-corruption
Corporate governance refers to the responsible management and monitoring of our company. The principles of corporate governance and the principles of the corporate governance institute in the German residential property sector, which the Management Board and Supervisory Board of Vonovia are committed to in their entirety, guide our conduct in the everyday management and operation of our company. Consistent adherence to these principles allows us to create the foundation for successful corporate governance and meet our responsibilities toward our stakeholders. This boosts our credibility and strengthens the trust our shareholders, business partners, employees, customers and the general public have in Vonovia and sustainably increases the value of our company. 102-12
Compliance and Anti-corruption
Taking all applicable regulations and laws into account is an indispensable prerequisite for Vonovia to be able to act and be recognized as a reliable and trustworthy partner. By monitoring our compliance rules, we protect the integrity of employees, customers and business partners, and shield our company from negative influences. Good compliance management is therefore not just an important factor in sustainable development and value creation within the company, but also provides our customers with more security and reliability in their everyday home life. Overheated residential property markets are a breeding ground for misconduct due to the scarcity in supply and the fear of losing one’s home. Vonovia is aware of this and thus places even more value on employees observing the applicable tenancy laws and regulations without exception. We also have the same requirements of our suppliers and service providers, as they play a central part in helping us to achieve our objectives. That is why we always aim for long-term partnerships with our suppliers.
Establishment in the Organization 103-2
Compliance management at Vonovia is the responsibility of the legal department, which monitors adherence to rules as part of our central compliance management system pursuant to IDW Standard PS 980 (see AR 2018, chapter Compliance Management).
Committee work at Vonovia will be coordinated by a newly established Management Board and Supervisory Board office, which will also organize information flow and cooperation between the Management Board and the Supervisory Board.
Adherence to labor and social standards in the supply chain is managed by the procurement department through supplier selection and management.