Organizational Establishment in the Company
Responsibility for Vonovia’s efforts in the area of sustainability lies directly with CEO Rolf Buch. On the Supervisory Board side, the Audit Committee has a particular responsibility for sustainability.
The sustainability committee established in 2020 meets three to four times a year – as required – to discuss the overall strategic direction and to evaluate the company’s sustainability performance. This committee comprises the entire Management Board (including the chief representatives) as well as the heads of Sustainability, Investor Relations, Corporate Communications, Controlling, Accounting and Business Innovation. Establishing sustainability at the highest levels of the company allows us to ensure the systematic implementation of our sustainability strategy in all business areas right down to our local neighborhoods.
The Sustainability/Strategy department reports to and coordinates its operations directly with the CEO in terms of sustainability topics related to the company’s strategy and business model. The Head of Sustainability/Strategy regularly exchanges views with the CEO and the sustainability committee on current developments and issues. The department is also responsible for sustainability reporting. These include further developing the sustainability strategy and road map, defining and monitoring sustainability objectives and implementing sustainability projects. The department drives innovation and proposes solutions in response to political, social and regulatory developments. It focuses on monitoring changes to legislation related to ESG reporting, actively assessing and participating in ESG rating systems and enhancing ESG-related KPIs.
The processing and implementation of sustainability projects is carried out via the relevant specialist departments and regions. The employees responsible ensure that sustainability issues are implemented as part of day-to-day business or in pilot projects and research initiatives. Innovations and technical solutions related to the energy revolution are developed until they are ready to implement (see Renewable Energies and Energy Mix) as part of a process shared by Innovation & Business Building (I&BB), Vonovia Technischer Service (VTS) and the regions. Vonovia has identified the urban quarters as a key implementation level due to the opportunities that are available in this area.
There are comparable staff functions in Austria and Sweden. They coordinate the interaction between the Sustainability/Strategy department and the individual countries, while also developing the country-specific sustainability strategies pursued by the BUWOG companies in Austria and the Swedish company Victoriahem (Victoria Park/Hembla until December 31, 2021). In order to take the development business of the German company BUWOG into account, a coordination function for sustainability has been set up there, too.