Risk Assessment Based on Sustainability Aspects
Assessing risk based on sustainability aspects takes the increasing scale of their impact into account and is becoming increasingly important in the list of requirements that investors and analysts look at. This is reflected, by way of example, in the recommendations made by the TCFD, which call upon companies to disclose the direct and indirect financial impact of climate change on their businesses.
Vonovia revised its risk management system again in 2020 to include additional sustainability-related risk aspects in the management system.
In the Non-financial Declaration, material risks associated with the corporation’s own business activities which are very likely to occur and which could have very challenging negative effects on non-financial topics and, as a result, on the business model must be reported. In the opinion of Vonovia’s management, there are no risks that meet the materiality criteria pursuant to Section 289c (3) Nos. 3 and 4 HGB in net terms.