Corporate Governance, Compliance and Anti-corruption
Corporate governance – also referred to as business ethics – refers to the responsible management and supervision of the company. The Management Board and Supervisory Board are fully committed to the principles of corporate governance and are responsible for their implementation. These principles form the basis for the sustainable success of the company and also serve as a guideline for conduct in the company’s daily management and business.
Consistent adherence to these principles strengthens our credibility and the trust that shareholders, business partners, employees, customers and the wider public place in Vonovia. The Management Board and Supervisory Board aim to use balanced corporate governance to ensure Vonovia’s competitive standing and increase the company’s value in the long term.
Further information on corporate governance at Vonovia can be found in the 2019 Annual Report (see chapter Corporate Governance, AR 2019).
Compliance and Anti-corruption
We comply with all of the applicable regulations and laws without restriction. For Vonovia, this is essential in order for the company to act, and be accepted, as a reliable and trusted partner. By adhering to 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 and partners with more security and reliability in their relationships with us. Tight housing markets, combined with the fear of losing one’s home, are a breeding ground for misconduct. Vonovia is aware of this and thus places even more value on employees observing the applicable tenancy laws and regulations without exception. We also expect the same 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
At Vonovia, compliance management is the responsibility of the Legal department, which monitors adherence to the rules that apply within our central compliance management system (CMS) (see chapter Compliance Management, AR 2019).
The Management Board and Supervisory Board office coordinates committee work at Vonovia and organizes information flow and cooperation between the Management Board and the Supervisory Board.
The central procurement department manages compliance with labor, social and environmental/quality standards in the supply chain as part of the process of supplier selection and supplier management.