Sustainability Report 2019

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Objectives, Measures and Indicators

As far as governance is concerned, Vonovia’s overriding objective is to ensure transparent corporate governance that complies with the legal requirements. This sort of corporate governance takes responsibility for employees, the environment and society, and contributes to stable company growth. We achieve this objective by:

  • Using the long-term development of both the portfolio and the range of services on offer to secure Vonovia’s long-term growth
  • Managing and supervising the company responsibly and independently
  • Ensuring systematic compliance with all laws and regulations
  • Implementing a structured supplier and supply chain management system that meets the very highest standards
  • Maintaining ongoing dialogue with our stakeholders on an equal footing and using the insights gained as part of this process to help shape the direction of our business and the development of our neighborhoods

In order to achieve this objective, we have to establish trust – the trust of our customers, partners, service providers, employees and investors in Vonovia as a company and in our services. We will be a reliable partner and employer for them that takes their concerns and needs seriously and reflects this in its conduct. This is the only way we can build long-term relationships with them based on trust.

Ensuring Long-term Growth

Vonovia is committed to providing contemporary, needs-based and affordable homes. We are continuing to expand this core business. Our aim is to continuously develop our residential portfolio by preserving our building stock over the long term, purchasing attractive properties and realizing new construction projects. In addition to providing homes, we offer a portfolio of housing-related services that generates added value for our customers and that we are continuing to expand.

Managing the Company Responsibly

We integrate not just economic, but also ecological and social considerations into our business decisions. Our corporate management is based on good corporate governance, which we strengthen by implementing Group-wide guidelines and business principles as well as stringent corporate governance guidelines that govern how the Management Board and Supervisory Board work (see chapter Corporate Governance, AR 2019). We also enter into voluntary commitments, such as our Code of Conduct or our Declaration of Respect for Human Rights, which serve as ethical legal guidelines for our actions. They are closely related to our internal Mission Statement and our Business Philosophy, which provides orientation for our everyday activities.

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Proportion of women in management and control bodies:
Management Board = 25%, Supervisory Board = 33.3%

Ensuring Compliance With All Laws

We use our compliance management system to ensure that we systematically adhere to applicable laws and requirements. We have defined and implemented clear structures and processes as part of this framework. This compliance management system features regulations aimed at whistleblower protection and money laundering prevention as well as compliance training. As part of the internationalization of our business and in collaboration with our subsidiaries Victoria Park and BUWOG, we are currently adjusting the existing compliance rules. This will ensure compliance throughout the Group in the future, too. We also provide our employees training on anti-corruption and anti-competitive behavior on a regular basis, and have developed and adopted a training program on these topics.

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proven cases of corruption

Implementing a Structured Supplier and Supply Chain Management System

Our cooperation with external partners and service providers in our supply chain is governed by our Business Partner Code, our general terms and conditions of purchasing and the individual contractual provisions. We maintain the administration of these and other documents as well as the relationship with our suppliers and subcontractors with the help of a structured supplier management system that is being enhanced on an ongoing basis. We are using this system to manage compliance with environmental, labor and social standards by our business partners and at all stages in the supply chain.

Engaging in Dialogue on an Equal Footing

We maintain close dialogue with our stakeholders and seek active involvement in initiatives and associations. This allows us to identify trends, developments, changes and, most importantly, our stakeholders’ expectations, early on and integrate them into our business processes accordingly. This dialogue allows us to make our activities transparent and helps us to build and strengthen stakeholder – and public – trust in our company.

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tenant meetings and consultation processes

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