VONOVIA SE.
VNA.XETRA | Real estate activities with own or leased property
Vonovia SE is a large German residential real estate company. It owns, manages, and develops residential properties across Germany, Sweden, and Austria. The company's primary activities include renting and leasing apartments, managing properties, modernizing and developing existing buildings, and co...Show More
Better Health for All
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Vonovia's core business of residential real estate has a positive net health effect through various initiatives. Approximately 29.5% of newly rented apartments in Germany (around 11,000 units) were accessible or partially modernized, and in 2023, 17.5% of newly let units (6,550 apartments) were modernized for accessibility, enhancing safety and well-being for residents, particularly the elderly.
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The company's operations generate significant positive health externalities by reducing environmental pollutants and improving indoor air quality; carbon intensity in its German real estate portfolio decreased by 3.9% in 2023 to 31.7 kg CO₂e per square meter, and by 14% in 2022 to 33 kg CO₂ per sqm.
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Vonovia also supports mental health through programs for employees, including psychosocial consultations and stress management information.
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For tenants, the company has supported over 4,400 households since 2018 with hardship arrangements, reducing stress and anxiety associated with housing insecurity.
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The company generates no revenue from products with direct negative health impacts.
Fair Money & Economic Opportunity
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Vonovia SE operates primarily in residential real estate, focusing on property management, modernization, and new construction.
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The company does not offer direct financial services such as lending, deposit accounts, or insurance products to consumers.
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As such, KPIs related to financial product pricing, fee exposure, lending compliance, data accessibility, debt burden, financial literacy initiatives, and geographic inclusion of financial services are not applicable to its core business model. While Vonovia engages in social initiatives like hardship management programs for tenants
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and offers housing at fair prices,
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these activities do not constitute community finance or direct wealth-building financial services as defined by the rubric's financial services focus.
Fair Pay & Worker Respect
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Vonovia reported a CEO to median employee pay ratio of 96.4 in 2024.
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In the same year, the total gender pay gap was -0.4%, indicating that female employees earned 100.4% of male employees' pay.
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Over 95% of the workforce was covered by collective agreements in 2023.
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However, the company confirmed two incidents of bribery and corruption in the most recent fiscal year and one in 2023, leading to employee dismissals or disciplinary actions.
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In March 2023, German authorities raided Vonovia's offices to investigate allegations that employees accepted bribes totaling approximately €500,000 over a decade in exchange for awarding contracts.
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No court convictions for bribery or corruption offenses were recorded in the fiscal year or 2023, and no indications of human rights violations within its own business area were found during the reporting year.
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Fair Trade & Ethical Sourcing
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Vonovia directs 99.2% of its procurement expenses to local partnerships.
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A comprehensive Business Partner Code applies to all suppliers and service providers, mandating compliance with human rights standards, including the prohibition of child and forced labor.
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In 2023, 59.6% of new suppliers were assessed on sustainability criteria, and 36 out of 49 suppliers who failed to meet standards faced termination or corrective measures.
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Vonovia has appointed a Human Rights Officer and conducts regular training sessions for employees and suppliers on human rights and environmental standards.
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The company's business model does not directly involve the sourcing of raw materials.
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Vonovia partners with Madaster to enhance material traceability and promotes the creation of material passports for reuse and recyclability.
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Honest & Fair Business
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Vonovia has a comprehensive Compliance Management System (CMS) that includes an Anti-Corruption Policy and a Whistleblowing Policy.
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The company maintains a zero-tolerance stance on corruption
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, with zero confirmed incidents reported in 2023.
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Regular training sessions are conducted to prevent misconduct
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, and a revised Business Partner Code was updated in 2023.
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An anonymous whistleblower portal and hotline are available in multiple languages for employees, suppliers, and customers.
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Additionally, Vonovia's sustainability statement undergoes a voluntary limited assurance review by PwC GmbH Wirtschaftsprüfungsgesellschaft.
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Kind to Animals
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Vonovia SE integrates green spaces into building designs, providing habitats for flora and fauna. By 2020, the company established approximately 100,000 square meters of wildflower meadows and over 250 insect habitats
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. It also installed over 500 nesting boxes for swifts and bats
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. In 2019, Vonovia partnered with the German Nature and Biodiversity Conservation Union (NABU) to transform neighborhood green spaces into urban habitats for insects and birds, promoting near-natural gardening practices
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.
No War, No Weapons
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Vonovia SE's core business is residential real estate, and it has no direct or indirect involvement in military or weapons-related activities.
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The company reports 0.0% exposure to controversial weapons with 99% coverage as of December 31, 2024.
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No evidence was found regarding dual-use technology, sales to embargoed regimes, peacebuilding investments, conflict divestment policies, board oversight of defense, export end-user certificates, lobbying on arms control, humanitarian procurement compliance, human rights due diligence frequency in conflict areas, Arms Trade Treaty compliance, AI military safeguards, UN Guiding Principles alignment, dual-use screening, surveillance transparency, ethical red lines, war-risk audits, annual conflict partner reviews, defense divestment, conflict minerals, peace tech investment, conflict zone procurement, or ethical red lines compliance rate.
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Planet-Friendly Business
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Vonovia's near-term climate targets were validated by the Science Based Targets initiative (SBTi) in March 2024, confirming their alignment with the 1.5-degree goal of the Paris Agreement.
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The company reported zero environmental compliance violations during the reporting period.
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In 2024, 95.0% of Vonovia's portfolio by square meter was certified by Mandatory Energy Performance Certificates.
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The waste diversion rate from landfill was 59.9% in 2024, with 31.6% recycled and 28.3% composted.
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Water intensity for landlord-obtained water was 0.01 m³ per revenue unit in 2024, equivalent to 10,000 m³ per $1 million revenue.
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For biodiversity, Vonovia established 96,400 square meters of wildflower meadows in 2023, which represents approximately 0.27% of its total portfolio area of 35,209,745 m².
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Respect for Cultures & Communities
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No specific evidence was found in the provided article to assess Vonovia SE against the defined KPIs for Respect for Cultures & Communities. The article discusses the general impact of gentrification in the real estate industry, including potential issues like displacement and cultural shifts, but explicitly states that "specific instances involving Vonovia SE were not identified."
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Therefore, no concrete data points or actions by Vonovia SE related to cultural appropriation, community partnerships, local investment, or grievance mechanisms are available.
Safe & Smart Tech
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Vonovia's subsidiary, Deutsche Wohnen (now part of Vonovia), was fined €14.5 million in November 2019 by the Berlin data protection authority for violating GDPR by failing to implement regular deletion of tenant data no longer needed.
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This legal dispute is ongoing.
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The company also introduced 'Multisensor Plus' smoke detectors with advanced monitoring capabilities, which raised tenant privacy concerns.
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While Vonovia stated additional features would be opt-in, the legal classification and mandatory installation of these devices remain under debate.
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The company performs regular vulnerability scans and follows recommendations from the Federal Office for Information Security (BSI).
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Zero Waste & Sustainable Products
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In 2023, Vonovia reported a 60% waste recycling rate across its portfolio, diverting 223,000 metric tons from landfills.
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The company implements over ten waste reduction initiatives, including using environmentally friendly and recyclable construction materials, adopting modular timber and hybrid construction, and partnering with Madaster for material passports to facilitate the reuse of components like windows.
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Circular design principles are integrated into their construction and refurbishment projects. Vonovia engages and educates tenants on waste separation, reduction, and prevention.
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The company aims for a significant reduction in waste by 2030.
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