Better Health for All

The company's core business of residential property management and development, along with its nursing properties, generally has a neutral direct health impact, as residential housing is not a health product, and nursing properties represent a small portion of the portfolio value. The company allocated 25% of new lettings in 2019 to tenants eligible for social housing, indicating efforts to reach vulnerable populations.

However, the company received one data protection fine in 2019, which is subject to appeal, suggesting basic data protection with some vulnerabilities. The company waived or reduced rent increases in 700 cases in 2019 and 343 cases in 2021, which can indirectly support health equity, but there is no evidence of a structured program with funding as a percentage of revenue. There is no evidence of direct health products or services requiring price accessibility, safety records, or mental health initiatives.

Fair Money & Economic Opportunity

Deutsche Wohnen SE is a real estate company whose core business involves residential property management and development, generating revenue primarily through rental income.

The 'Fair Money & Economic Opportunity' value specifically covers activities that lend, insure, move, or store money. As Deutsche Wohnen SE does not offer consumer lending, deposit services, or other financial products, most KPIs related to financial services are not applicable. This includes KPIs such as underserved client share, pricing fairness (APRs), exploitative fee exposure, inclusion initiatives (loan/insurance book), customer finance data accessibility, fair lending compliance, wealth-building outcomes, financial literacy initiatives, debt burden ratio, geographic inclusion (banking deserts), and product simplicity (financial product disclosures). While the company engages in social initiatives and allocates apartments to tenants with social housing eligibility, these activities fall outside the scope of financial services as defined by the value.

Honest & Fair Business

Deutsche Wohnen has a whistle-blower system for business partners, employees, subcontractors, and service providers, allowing anonymous reports and stating that whistle-blowers shall not be adversely affected.

However, there is no evidence of independent investigation processes for these reports. The company made a loan of up to 2 billion euros to its top shareholder, Vonovia, which proxy advisors Glass Lewis and ISS support investigating, indicating potential issues with board independence or conflict of interest management. Deutsche Wohnen has an anti-corruption policy binding for all employees, prohibiting bribery and corruption, and requiring all employees to complete online compliance training. However, the policy lacks specific guidance for international and high-risk markets, and there is no information on training effectiveness metrics. The company reserves the right to verify compliance with its Code of Conduct for Business Partners, but there is no specific percentage of ethical claims independently verified.

No War, No Weapons

Deutsche Wohnen SE is a real estate company. Its 2023 Annual Report states that it is not a defense contractor and has no defense or arms-related activities, dual-use technologies, sales to embargoed regimes, defense business oversight, export certifications, Arms Trade Treaty compliance, AI military applications, dual-use item screening, or surveillance contracts.

The company's Green Finance Framework indicates an intention to avoid financing commercial buildings in the defense industry, which serves as a codified ethical red line against engagement with the defense industry.

Respect for Cultures & Communities

Deutsche Wohnen SE demonstrates a strong commitment to local employment, with 84.5% of its total employees in the region around Berlin in 2021.

The company invests in the refurbishment of listed buildings, allocating EUR 16.7 million in 2021, EUR 3.2 million in 2020, and EUR 11.4 million in 2019. It owns four of the six Berlin housing estates designated as UNESCO World Heritage Sites in 2008. Deutsche Wohnen provides support for non-profit initiatives, donations, and sponsorship, totaling EUR 2.2 million in 2021, EUR 1.9 million in 2020, and EUR 1.9 million in 2019. The company's total segment revenue was EUR 1,011.2 million in 2023. All employees are obliged to complete online training on compliance basics, and in-person and live online training sessions on individual topics also take place regularly.

Zero Waste & Sustainable Products

In 2023, the company's overall portfolio waste diversion rate was approximately 60.08%, with Germany at 62.7%, Austria at 63.9%, and Sweden at 24.6%.

For business operations in 2023, Germany recycled 43.1% of commercial municipal waste, and Austria recycled 25.3%. The company has several waste reduction initiatives, including a pilot project in Essen for green and household waste recycling, separating office and common area waste, not using disposable items in cafeterias, involving tenants in Sweden in waste separation, recycling horticultural waste for energy, composting green waste, and using leftover wood offcuts as lumber. The company aims to reduce waste in Sweden by 30% by 2030. Tenants in Sweden are provided with information about waste separation and prevention. There were no fines for environmental infringements in 2012, and no waste disposal violations in the past three years.