Vonovia SE Sustainability Report 2021
Environment — Contents
Environ­
ment
	22	
Environment and Climate
	22	
Disclosure
	24	
Implementation of the Recommendations Made by the 
Task Force on Climate-related Financial Disclosures 
(TCFD)
	25	
Reducing CO2 in the Real Estate Portfolio/ 
Energy-efficient Modernization
	34	
Renewable Energies and Energy Mix
	37	
Biodiversity
	38	
Water, Effluents and Waste
	39	
Energy Efficiency and Carbon Reductions in Operations
	41	
Sustainable Construction and Development
	41	
Disclosure
	42	
Sustainable Construction and Refurbishment
	48	
Sustainable Materials and Products
	50	
Social and Environmental Standards in the Supply Chain
21

Vonovia SE Sustainability Report 2021
Environment — Environment and Climate
HIGHLIGHTS 2021
Environment and Climate
GRI 103-1, 103-2, 103-3, 305-4, 305-5
UNGC Principle 7, Principle 8, Principle 9
SASB IF-RE-130a.1
Disclosure 
In July 2021, several regions near the Ahr and Erft rivers were 
struck by a once-in-a-century flood due in part to the 
heaviest rainfall since records began. The striking images of 
the devastation that the event caused in Germany and 
Belgium made it abundantly clear that climate change is no 
longer just an abstract scientific problem. The impact of 
climate change is only going to become more significant, 
and we are not going to be immune to its effects in this part 
of the world.
The events in the summer of 2021 provided yet more evi-
dence that limiting global warming and protecting the 
natural resources required for life on earth are one of the 
most important challenges facing us as a society. That is 
why environmental and climate protection have such an 
important role to play in our sustainability strategy. We 
support targets set at an international level, such as the 
1.5°C target set out in the Paris Agreement and the European 
Union Green Deal, as well as the goal set by the German 
Federal Government in 2021 to achieve climate neutrality by 
2045. The Austrian government is going even further, and 
wants to be climate neutral by 2040. The world of business 
has an active role to play in achieving this target. It can also 
drive the research and development that will be needed in 
order to reach global climate targets. The real estate sector 
has an important part to play in this because the construc-
tion and operation of buildings emit a significant amount of 
the greenhouse gases that cause climate change. As the 
housing industry market leader in Europe, we aim to be a 
central driving force behind climate protection. With a 
portfolio of 413,967 residential units (excl. Deutsche 
Wohnen) in Germany, Austria and Sweden and its involve-
ment in a number of wide-ranging development activities, 
­Vonovia has a significant role to play in protecting our 
environment and mitigating climate change. 
 > Climate path for the existing German portfolio 
updated: virtually climate-neutral building 
portfolio by 2045 set as target (<25 kg CO₂e/m² 
by 2030)
 > Carbon intensity in Germany improved by 2.8% 
to 38.4 kg CO2e/m²
 > 2.3% refurbishment rate achieved in Germany
 > Decarbonization tool for implementing environ-
mental targets on regional and neighborhood 
levels. Neighborhood approach also a focal point 
of climate protection
 > Serial refurbishment in line with Energiesprong 
principle piloted
 > 1,000th roof fitted with photovoltaic system. New 
target set for expansion: installation of PV 
systems of >200 MWp on 17,000 roofs
 > BUWOG in Austria becomes partner in “klima-
aktiv Pakt2030” with the goal of reducing emissi-
ons by 55% by 2030 against the base year of 2005
22

Vonovia SE Sustainability Report 2021
Environment — Environment and Climate
A decentralized energy transition is vital in order for the 
climate action plan being taken by governments and compa-
nies to be successful. Residential real estate companies can 
make an important contribution in this area while also 
opening up new business areas for themselves. Their prop-
erties offer great potential for generating renewable ener-
gies, e.g., by using photovoltaic or solar thermal installations 
on roofs. This provides the basis for innovative schemes like 
landlord-to-tenant electricity models – prospectively also for 
heat pumps and charging infrastructure. This approach puts 
­Vonovia in a position to make use of the opportunities that 
will arise as a result of our increasing demand for renewable 
energy and the transformation underway in the transport 
and energy sectors. We also believe that there is significant 
potential for ­Vonovia to drive innovation within the residen-
tial property sector while remaining at the forefront of the 
energy revolution and achieving our own climate targets. Of 
course, we need a suitable statutory and technological 
framework in order for this to be successful.
Climate action and protecting the environment are becom-
ing increasingly relevant topics in wider society. As a listed 
company, our activities and transparency in the area of 
climate change mitigation reflect the increasing importance 
of this topic for our customers and shareholders. They are 
also a response to changes in the regulatory requirements 
that affect how we do business. The growing demand for 
sustainable investments and the Sustainable Finance action 
plan set out by the EU Commission have the potential to 
transform our financial markets, as do the EU Taxonomy for 
sustainable activities and the TCFD framework (see
 Imple-
mentation of the Recommendations Made by the Task Force on Climate-­
related Financial Disclosures (TCFD)). 
The steps that will be required in order to reach the targets 
of the Paris Agreement and the European Union Green Deal 
will also be of importance for ­Vonovia. The extent of the 
impact that we have on the environment is dependent on 
how we choose to go about building new residential units 
and managing our existing portfolio. The same is true for the 
choices that we make about the ecological environment of 
our buildings. Maintaining and improving biodiversity in our 
residential environments is one positive step that we can 
take in order to protect the environment. We are also 
committed to conserving resources and contributing to the 
circular economy whenever possible.
The topics discussed in this section provide the framework 
for our activities, and are assigned to the two material topics 
that come under the area of Environment and Climate: 
Reducing CO2 in the Real Estate Portfolio/Energy-efficient 
Modernization and Renewable Energies and Energy Mix. 
The other important topics in this section are Biodiversity, 
Water, Waste and Effluents and Energy Efficiency and 
Carbon Reductions in Operations. The important topic of 
Innovations for Climate and Environment is a central theme 
that is primarily presented under the material topics.
23

Vonovia SE Sustainability Report 2021
Environment — Environment and Climate
Implementation of the Recommendations 
Made by the Task Force on Climate-related 
Financial Disclosures (TCFD) 
GRI 102-15, 201-2 
We began the process of integrating sustainability risks into 
the company’s risk management system in 2020. In this 
context, we have incorporated the recommendations of the 
Task Force on Climate-related Financial Disclosures (TCFD) 
into our reporting process in order to shed special light on 
the climate-related risks of our business. Implementing the 
recommendations of the TCFD provides us with a better 
understanding of the risks that are relevant to our company. 
Implementation of the TCFD Recommendations at Vonovia
Content of the  
recommendations
Implementation at Vonovia
Further Information
Governance
Organizational structure 
of the company regarding 
climate-related risks and 
opportunities
 > Overall, Management Board bears responsibility for sustainability and climate protection as 
well as climate-related risks and opportunities; it decides on strategy and targets
2021 Sustainability Report:
Environment and Climate
Managing Opportunities 
and Risks
2021 Annual Report:
The Company
Corporate Structure
Sustainability Management 
at Vonovia
Management System
Environmental Issues
Opportunities and Risks
 > Sustainability Committee – comprising the entire Management Board and representatives of 
the central functional departments Sustainability/Strategy, Controlling, Communication, 
Investor Relations and Accounting – determines the strategy and targets and monitors 
progress
 > The central department Sustainability/Strategy, within the executive division of the CEO, 
coordinates and drives the measures and their implementation
 > Climate-related risks are calculated and collated on a half-yearly basis as part of the 
company-wide risk management process; the process is coordinated by Controlling, with the 
Management Board taking the final decision on risk assessment
 > Energy efficiency modernization in the existing portfolio in Germany is the responsibility of 
the CRO (Regions and Portfolio Management); for Austria, the CDO is responsible, for 
Sweden, the CEO of Victoriahem
 > Technical implementation and use of new technologies by Value-add unit
 > Non-financial indicator Sustainability Performance Index (SPI) includes carbon intensity of 
the building portfolio
Strategy
Actual and potential im-
pacts of climate-related 
risks and opportunities on 
the organization’s busines-
ses, strategy, and financial 
planning
 > Climate protection and carbon reduction is a fundamental part of the corporate strategy as a 
key driver for long-term business success
2021 Sustainability Report:
Environment and Climate
Sustainable Construction 
and Refurbishment
2021 Annual Report:
Strategy
Sustainability Management 
at Vonovia
Environmental Issues
Risk Assessment Based on 
Sustainability 
 > Binding climate path defined on the basis of various scenarios in partnership with scientific 
institutions
 > Comprehensive modernization measures to increase energy efficiency as well as use of 
neighborhood solutions with renewable energies (fuel switch)
 > Currently, transitory rather than physical risks are expected, e.g., through legislation in 
Germany (carbon pricing) and the European Union, as well as through the lack of economic 
viability of energy-efficient modernization and the development of renewable energy 
generation (balance between investments, apportionment opportunities and affordability for 
tenants)
 > Particularly promising opportunities to generate energy for tenants to use for heating and 
electricity
Risk management
How the organization 
identifies, assesses, and 
manages climate-related 
risks
 > Climate risks integrated into company-wide risk management process, assessment of all 
risks by management every six months
2021 Sustainability Report:
Managing Opportunities 
and Risks
2021 Annual Report:
Risk Assessment Based on 
Sustainability 
Opportunities and Risks
 > Physical risks will be assessed in the future on the basis of regularly updated risk maps
 > No material risks for building portfolio of Vonovia currently identified
Metrics and targets
Metrics and targets used 
to assess and manage re-
levant climate-related 
risks and opportunities
 > Comprehensive and complete carbon footprint report for building portfolio and business 
operations according to GHG emissions protocol and IW.2050
2021 Sustainability Report:
Environment and Climate
Sustainable Construction 
and Development
Environmental Indicators 
2021 Annual Report:
Strategy
Management System
Environmental Issues
Forecast Report
 > CO2e in portfolio (in Germany) 2021: 871,290 tons (Scope 1, 2, 31))
 > Expansion of renewable energies with photovoltaic systems: 451 systems with 16.8 MWp 
nominal output 
Targets: 
 > Virtually climate-neutral portfolio by 2045 (<5kg CO2e/m² of rentable area)
 > Reduction of carbon intensity from current 38.4 kg to <25 kg CO2e/m² of rental area by 2030
 > Installation of PV systems with nominal output of >200 MWp on 17,000 roofs by 2030
 > Reduction of the average primary energy demand in new buildings to 31 kWh/m² by 2025
1)	 Scope 3.3: “Fuel- and energy-related emissions upstream”.
24

Vonovia SE Sustainability Report 2021
Environment — Environment and Climate
which affects the remuneration of the Management Board. 
Carbon intensity is the most significant component of the 
sustainability performance index in terms of its weighting. 
The targets were developed as part of an interdisciplinary 
collaboration between various functional areas and with the 
support of the scientific community (Fraunhofer ISE). They 
are contingent – not only on a comprehensive improvement 
of the building portfolio’s energy efficiency through energy 
efficiency modernization, and an increased share of renew-
able energies in our neighborhoods – but also on a profound 
transformation of the energy sector. As such, the provision 
Reducing CO2 in the Real Estate Portfolio/
Energy-efficient Modernization 
GRI 102-11, 102-13, 103-1, 103-2, 103-3, 302-3, 305-1, 305-2, 305-3, 
305-4, 305-5
Our Approach
­Vonovia is committed to making its property portfolio 
almost completely climate neutral by 2045. Owing to the 
size of the company, we see ourselves as a key driver of 
climate action in the housing industry. This means that we 
can help the sector as a whole make great strides towards 
achieving the goal of a carbon-neutral building stock. We 
track our emissions using the recognized Greenhouse Gas 
Protocol. Most of our emissions are Scope 1 emissions 
(direct emissions, approx. 45%) and Scope 2 emissions (indi-
rect emissions caused by consumption of district heating 
and power, approx. 40%) of the properties in our portfolio. 
The majority of these are in Germany.
In the reporting year, we further developed our climate 
strategy and redefined our goal. In light of the new Federal 
Climate Change Act and the sector targets contained 
therein, we have set the target of achieving a virtually 
climate-neutral building portfolio by 2045, with carbon 
intensity of less than 5 kg of CO₂ equivalents per m² of rental 
area. Along the way, we want to reduce our carbon intensity 
to less than 25 kg CO₂e/m² by 2030. This target has been 
incorporated into our sustainability performance index (SPI), 
CO2e Emissions – Portfolio (in Germany)
 
13.5% Scope 3*
38.0% Scope 2
48.5% Scope 1
43.4% Heating from
natural gas
4.0% Heating from
heating oil
1.1% Heating from coal
0.2% Electricity (communal areas)
1.3% Heating from electricity
36.5% Heating from
district heating
871 thou. 
tons of CO2e
(2021)
in %
* Scope 3 emissions comprise energy-related emissions upstream and commodities leased 
 downstream.
­Vonovia Climate Path: Portfolio Decarbonization Strategy
40
30
20
0
10
2020
2030
2040
2045
Carbon intensity in kg CO2e/m²a*
 1
 > Continuation of com-
prehensive energy 
efficient refurbishment
 2
 > Replacement of con-
ventional heating units 
with hybrid systems 
and heat pumps
 > Photovoltaic systems 
on all suitable roofs
 > Establishment of a lo-
cal heating network in 
the neighborhood with 
renewable energies
 3
 > Conversion of the 
energy sector to 
carbon-free district 
heating and green 
electricity 
* Includes Scopes 1 and 2 as well as Scope 3.3 “Fuel- and energy-related activities upstream”; referring to German portfolio without Deutsche Wohnen. Development of the energy sector ­according 
to the Agora Energiewende KND 2045 scenario; comparison: CRREM path MFH 1.5° DE 2045 = 5.4 kg/CO2/m2 (July 2021); development of climate path supported by Fraunhofer ISE.
39.5
2025
38.4
35.234.1
32.8
2025 31.6 kg
2030 < 25 kg
2045 < 5 kg
The 3 elements  
of the climate path
2035
25

Vonovia SE Sustainability Report 2021
Environment — Environment and Climate
in kg CO2e/m2 of rentable area
Carbon emissions from heating and electricity; comparability restricted between 2019 and 
2020 due to change in method.
50
40
30
20
10
0
47.2
39.5
Scope 1–3
2019 2020
Scope 1–2
38.4
2021
43.1
35.1
2019 2020
34.1
2021
of sufficient volumes of carbon-free district heating and 
electricity by the energy sector, coupled with a more rapid 
phase-out of coal, as described in the Coalition Agreement, 
are fundamental prerequisites for a climate-neutral buildings 
sector. 
With respect to the attainment of our climate target and the 
targets of the housing sector as a whole, the right subsidy 
instruments and the removal of legal hurdles remain deci-
sive. After all, we believe that ambitious, long-term partner-
ships and above all a different political framework are 
needed in addition to commitments and investments in 
order for climate-neutral housing to become a reality and 
stay affordable. Our commitment to modeling and develop-
ing sustainable solutions to mitigate climate change demon-
strates that we are operating in a field that is undergoing 
rapid regulatory change while also attempting to meet the 
needs of a wide variety of stakeholders and remain profit-
able.
For this reason, our climate path takes social and economic 
targets into consideration in addition to the environment. 
Following the initial definition of the target in 2020, concrete 
implementation work continued in the reporting year. 
Energy-efficient refurbishments are a key element of our 
climate path. A specially developed decarbonization tool 
makes it possible to break down the Group target at the level 
of regions and neighborhoods – and identify nuanced 
solutions (see
 project box “The Vonovia Decarbonization Tool –  
CO2 in Focus“). We make improvements to the tool on a 
continuous basis in order to identify the optimal balance 
between carbon targets and our performance as a business. 
This provides us with the best possible basis for making 
decisions as a company. 
Decarboni­
zation Tool 
helps to identify solution strategy
Here, too, the focus lies on the urban quarter, particularly in 
the context of the energy revolution. Many integrated 
solutions for energy provision with renewable energies and 
carbon reduction can only be implemented in a technically 
feasible and economically viable way within larger neighbor-
hoods. The innovation clause of the German Buildings 
Energy Act (GEG), for example, is only applicable to neigh-
borhoods. These circumstances have increased our focus on 
neighborhoods and underline the importance of taking a 
holistic approach.
Finding 
­solutions at 
neighborhood 
level
A holistic view  
of urban quarters
Organizational Focus 
The Portfolio Management unit reports to the Chief Rental 
Officer (CRO) and is responsible for the general planning 
and coordination of modernization measures in the portfolio. 
Within the unit, the Climate-neutral Portfolio/Strategic 
Projects department is tasked with developing solutions for 
bringing our property portfolio and the corresponding 
investment strategy in line with our climate action goals. It is 
also supported by the Sustainability/Strategy unit, which 
reports to the Chief Executive Officer (CEO). The properties/
neighborhoods to be modernized are selected in a targeted 
manner in cooperation with the regions, and the optimal 
degree of modernization for each building is defined. Invest-
ments for modernization measures are approved by the full 
Management Board. Compliance rules require the involve-
ment of the Supervisory Board in some cases. The Invest-
ment Management department manages the budget for 
modernizing the portfolio. ­Vonovia Technical Service (VTS) 
is responsible for planning and execution.
Carbon Intensity – Portfolio (in Germany)
26

Vonovia SE Sustainability Report 2021
Environment — Environment and Climate
PROJECT
At the start of 2021, ­Vonovia entered into a development partnership with 
GLS Bank, the advisory company d-fine, and the climate metrics provider 
right.based on science, with the goal of developing an IT system to analyze 
the climate impact of residential property and portfolios. With this, ­Vonovia 
is setting new standards in the industry. The digital Decarbonization Tool 
makes it possible to integrate climate-related key figures as well as energy-­
technical and economic indicators in the management of neighborhoods and 
real estate portfolios. The software provides an analysis of the portfolio’s 
climate impact at the current time and in view of the goal of achieving a 
virtually climate-neutral building portfolio by 2045. The emission reductions 
achieved by planned modernization projects and community development 
activities are mapped in the tool and compared with the 1.5°C target set in 
Paris. 
“We firmly believe that the rising pressure on greenhouse gas emissions in 
the building sector and significant financial risks for the industry urgently 
require new ideas in order to take the complex interrelationships of building 
emissions and global warming to a place that allows for sustainable climate-­
protective building management.” Dr. Lars Dittmann, Climate-neutral 
Portfolio department head.
The Decarbonization Tool is being used to implement the ­Vonovia climate 
path at an operational level and aims to address, for example, the effects of 
modernization, changes in energy sources, and portfolio changes. The tool 
indicates, for example, whether the ­Vonovia portfolio as a whole, or individ-
ual neighborhoods, are on track to meet the 2045 climate target, and what 
influence climate-impacting measures have on achieving the target. This is 
how we intend to manage our target of achieving climate neutrality in the 
reporting period through 2045 in an economically prudent and ecologically 
forward-looking manner.
The ­Vonovia Decar­
bonization Tool – 
C02 in Focus
1.5°C 
objective
firmly in sight
The top four features of the ­Vonovia decarbonization tool:
 > Visualization of the long-term climate impact of moderni-
zation measures
 > Possibility of establishing regional climate paths
 > Prioritization algorithm shows the order of priority in 
which buildings are to be modernized
 > Evaluation of modernization programs by inputting data 
on the planned or achieved carbon reductions
27

Vonovia SE Sustainability Report 2021
Environment — Environment and Climate
NEW NON-FINANCIAL  
PERFORMANCE METRIC 2021
Energy efficiency modernization measures in Austria are, 
like overall business operations in Austria, the responsibility 
of the Chief Development Officer (CDO) under the BUWOG 
umbrella, where they are led by the Real Estate Management 
division.
Division heads are responsible for planning investments in 
modernization work at Victoriahem in Sweden. This process 
is integrated into the annual budget planning process and is 
updated in line with the company’s business forecast. The 
investment plan is reviewed by regional managers, the Head 
of the Energy and Environment Department, business 
controllers and project managers to make sure that the 
estimated savings and costs are accurate before the plan is 
approved by the CFO, COO and CEO.
Objectives & Measures 
In line with our holistic approach, our measures focus more 
on neighborhoods than our individual rental units (see
 Society and Contribution to Urban Development). In Germany, we 
use public funding programs to keep modernization work 
affordable for our tenants. The revised terms of the federal 
funding program for efficient buildings (BEG) include some 
interesting options in this respect, such as direct subsidies 
for modernization work. Serial refurbishment is another 
approach that will limit the costs of modernization. Serial 
refurbishment is defined as the process of using pre-fabri-
cated facade and roof elements to refurbish existing build-
ings with the aim of making them more energy-efficient. 
The refurbishment rate in Germany in the reporting year was 
2.3%, compared to 2.9% in the previous year. The drop is, 
among other things, attributable to the new conditions for 
subsidies and the adjustments to the internal management 
system to focus on the neighborhood level, which requires 
more complex and therefore longer planning. In the year 
ahead, it is expected that the refurbishment rate will once 
again exceed 2%.
Alongside optimization of building envelopes, the switch to 
lower-carbon energy sources also stands at the forefront. As 
part of our quest to achieve a virtually climate-neutral 
housing stock in 2045, ­Vonovia is aiming to have reduced 
the carbon intensity of its housing stock in Germany to 
below 25 kg CO₂e/m2 by 2030. In the reporting year, carbon 
intensity stood at 38.4 kg CO₂e/m2 and was therefore 
approx. 2.8% lower than in the previous year (2020: 39.5 kg 
CO₂e/m2). The metric comprises Scope 1 and Scope 2 
emissions across our entire portfolio, and part of the Scope 3 
emissions (fuel- and energy-related emissions upstream and 
commodities leased downstream). As such, the goal set for 
the reporting year of a reduction of at least 2% was achieved. 
In particular, the reduction is based on energy efficiency 
modernization and an improvement in the carbon intensity 
of district heating. For further information, please refer to
 Environmental Key Figures.
Notes on the Calculation of Carbon Emission 
 > In accordance with GHG Protocol and IW.2050/ 
GdW Arbeitshilfe 85
 > Total property portfolio, including listed buildings
 > Based on energy certificates, in relation to rental area 
(not total area)
 > GEMIS 5.0 carbon factors used
 > Specific carbon factors for district heating in some 
cases
 > Including energy-related upstream emissions 
(­Scope 3)
As part of the continuous enhancement of our calculation of 
carbon emissions, we will make a modification in the calcu-
lation of carbon emissions for district heating starting in the 
2022 fiscal year, where we will use the Carnot allocation 
method in the future. This has the advantage that the 
allocation of carbon emissions between electricity and 
district heating is based on purely physical considerations, 
meaning that we can structure our long-term climate 
strategy and corresponding innovations in a way that is 
robust against regulatory changes in the long term. Had this 
method been applied to the building portfolio in the 2021 
reporting year, it would have resulted in a theoretical carbon 
intensity of 35.6 kg CO₂e/m².
Focus of energy-efficient modernization measures 
The energy-efficient modernization measures focus on heat 
insulation for facades, basement ceilings and attics, the 
replacement of windows and the installation of new heating 
boilers. We modernized around 8,200 units in the reporting 
year, not including heating system upgrades. That equates to 
38.4
kg CO2e/m2 living area 
Carbon intensity of the 
existing portfolio
(in Germany)
28

Vonovia SE Sustainability Report 2021
Environment — Environment and Climate
a refurbishment rate of 2.3% in Germany for 2021. The 
year-on-year drop (2020: 2.9%) is, among other things, 
attributable to the new conditions for subsidies and the 
adjustments to the internal management system to focus on 
the neighborhood level, which requires more complex and 
therefore longer planning. In terms of heating moderniza-
tion, we focus on the use of hybrid solutions, heat pumps 
and wood pellets. We are also investigating the potential of 
connecting to new and existing district heating networks in 
Germany. We replaced boilers in around 4,100 units in the 
reporting year. By the end of 2022, we also aim to have 
replaced all existing oil heating systems in existing buildings 
in Germany.
Around 8,200
residential units modernized in the reporting year  
(in Germany excl. heating system upgrades)
When carrying out energy efficiency building refurbish-
ments, we need to consider both the strain on the tenants/
residents concerned and the rising costs. ­Vonovia is com-
mitted to using numerous (academically supported) cooper-
ation projects and integrated approaches to find innovative 
and cost-efficient, effective solutions for energy efficiency 
and a climate-neutral housing stock. One example of this 
sort of approach is the Energiesprong initiative, a serial 
refurbishment concept that uses standardized and pre-fabri-
cated construction components to minimize refurbishment 
times and maximize residential comfort on the basis of an 
innovative financing model. The aim of the initiative is to 
conduct refurbishments to bring buildings to net zero, 
meaning that they generate as much energy in a year as they 
consume. The Energiesprong principle is currently being 
piloted at 24 units in Bochum and is also to be rolled out 
further within the portfolio at a future stage (see
 project box 
“Energiesprong: Serial ‘Green‘ Refurbishment”). ­Vonovia is also 
taking part in projects to optimize the operational manage-
ment of heating systems and the interaction between, for 
example, system technology, user behavior and structural 
­Vonovia Climate Path: Portfolio Decarbonization Strategy
Power to X
Carbon intensity in kg CO2e/m2a*
39.5 kg 2020
31.6 kg 2025
<25 kg 2030
<5 kg 2045
Target
for
2045
Conversion of the 
energy sector to 
carbon-free district 
heating and green 
electricity
Replacement of 
conventional heating 
units with hybrid 
systems and heat 
pumps
Establishment of a 
local heating network 
in the neighborhood 
with renewable energies
Photovoltaic systems 
on all suitable roofs
Continuation of 
comprehensive 
energy eﬃcient 
refurbishment
* Includes Scopes 1 and 2 as well as Scope 3.3 “Fuel- and energy-related activities upstream”; referring to German portfolio without Deutsche Wohnen.
Detailed explanations can be found in the footnote to the climate path chart on p. 25.
29

Vonovia SE Sustainability Report 2021
Environment — Environment and Climate
PROJECT
In the search for innovative solutions, ­Vonovia is leading by 
example. At the end of 2021, in cooperation with the 
Fischbach Group, the company launched the first car-
bon-neutral refurbishment in series construction in 
Bochum-Mitte in line with the Energiesprong principle, 
which is still in its infancy.
Three residential buildings with a total of 24 apartments 
are being refurbished in series. The buildings date from the 
1950s and will be brought up to a carbon-neutral standard 
through the Energiesprong refurbishment project. As part 
of this process, timber-frame facade elements made of 
sustainable building materials are prefabricated to the 
precise millimeter. The elements are then simply joined 
together at the construction site. Due to the high degree of 
prefabrication, serial refurbishment offers great potential 
for facilitating the implementation of the energy revolution 
in the portfolio despite the shortage of skilled workers. In 
addition, this construction method produces significantly 
less noise than conventional construction sites. The heat-
ing, water and air supply system technology, which has also 
been completely renewed, is powered by the building’s own 
photovoltaic system on the roof. The carbon emissions 
caused by the operation of the building will be reduced to 
zero over one year of operation through the use of 100% 
renewable energies. Over the course of a year, the building 
generates exactly as much energy as it consumes (net 
zero). Another goal of the Energiesprong approach is to 
achieve a neutral impact at the level of rent including 
ancillary expenses. Tenants pay exactly the same amount 
for rent, heating and electricity as they did before the 
modernizations thanks to the improved energy efficiency.
The energy revolution has top priority at ­Vonovia, but this 
should not financially overburden the tenants of our build-
ings. Thanks to cost-saving series construction and the 
generation and use of green energy in the neighborhood, 
the Energiesprong principle will go a long way toward 
ensuring that refurbishments can be carried out over the 
long term without additional charges to the tenants.
 Serial Refurbishment with Energiesprong in Bochum
Energiesprong: Serial 
“Green” Refurbishment
Bochum-Mitte: A 
series-produced 
Energiesprong ele-
ment being carried 
onto the construc-
tion site. 
30

Vonovia SE Sustainability Report 2021
Environment — Environment and Climate
 
Portfolio share in % (relates to ﬁnal energy demand and rentable area)
Energy eﬃciency classes in kWh/(m2a)
* Not a like-for-like assessment.
2019 
2020 
2021
A+
less
than30
30
25
20
15
10
5
0
A
30 to less
than 50
B
50 to less
than 75
C
75 to less
than 100
D
100 to less
than 130
E
130 to less
than 160
F
160 to less
than 200
G
200 to less
than 250
H
More than 
250
not
disclosed
10.4
5.7 4.53.9
7.47.8
24.725.725.0
19.3
21.523.3
7.2
10.5
8.5
0.50.8 1.0
0.1 0.1 0.1
17.816.9
9.3
18.9
2.4
7.5
3.8 2.9
12.4
measures, so as to deliver further cost minimization solu-
tions. One of these is the interdisciplinary research project 
BaltBest headed up by the EBZ Business School. The pur-
pose of this three-year project was to uncover new ways to 
reduce the costs involved in heating properties. This was the 
largest research project of its kind in Germany to date, and 
identified a number of improvements that could cut heating 
costs by up to 20% per property. These include optimizing 
operational management, replacing boilers to save energy, 
improving communication with tenants about energy 
consumption and large-scale data gathering. 
Cooperation 
and innovation
for the development of innovative and  
cost-efficient solutions
Average Energy Intensity in the Portfolio* (in Germany) 
We organize events with various stakeholders on a regular 
basis to provide a platform for dialogue. Following on from 
our Outlook for Climate-neutral Housing conference in 2020, 
we held climate discussions in the form of digital lunches for 
our stakeholders in 2021. Due to their popularity, we have a 
number of sustainable conference formats planned for 2022, 
such as a conference on the Outlook for Climate-neutral 
Construction.
We took part in a number of events held by Initiative 
Wohnen.2050 (IW.2050) in 2021, of which we are a founding 
member. The initiative focuses on learning from each other 
and fostering dialogue, with the ultimate aim of the entire 
housing industry having a shared understanding of the 
importance of climate change mitigation and taking a unified 
approach to combating climate change. The initiative uses a 
in kWh/m2
* Relates to ﬁnal energy demand and rentable area.
200
150
100
50
0
159
163
2019
2020
155
2021
Energy Efficiency Standards in the Portfolio (Germany) – 34.9% in Efficiency Class C or Better*
31

Vonovia SE Sustainability Report 2021
Environment — Environment and Climate
variety of guidelines, tools and dialogue formats on strategic 
and technical issues for this purpose.
Implementation and active participation in further
Initiative 
Wohnen.2050
formats in the reporting year
In Austria, BUWOG has been a partner of the “klimaaktiv 
pakt” climate protection initiative launched by the Austrian 
Federal Ministry for Climate Action, Environment, Energy, 
Mobility, Innovation and Technology since 2011. Following 
completion of the first stage of the initiative in 2020, 
BUWOG has set a new goal as part of “klimaaktiv2030”, the 
aim being to achieve a reduction in emissions of 55% by 
2030, compared to the base year of 2005 (see
 project box 
“Leading the Way: BUWOG Signs klimaaktiv Pakt2030“). Moderniza-
tion and improvements to our existing portfolio will account 
for the majority of carbon reductions. Insulation refurbish-
ments, improvements in the efficiency of heating systems 
and switching to more eco-friendly energy sources have  
the most important role to play. BUWOG has also had a 
certified energy management system that is consistent with 
ISO 50001 standards in place in Austria since 2013/14 and in 
Germany since 2018. The system is a tool used voluntarily to 
systematically manage energy performance and improve it 
continuously. The corresponding establishment of processes 
that reflect this policy in the company and clearly defined 
objectives serve to increase energy efficiency, reduce energy 
consumption and cut energy costs.
In Sweden, virtually all existing Victoriahem buildings are 
supplied with district heating, the generation of which 
already produces extremely low carbon emissions. There-
fore, the road to climate neutrality will primarily be shaped 
by further decarbonization of heating supply, coupled with 
ongoing improvements in energy efficiency.
32

Vonovia SE Sustainability Report 2021
Environment — Environment and Climate
PROJECT
Leading the Way: 
BUWOG Signs 
klimaaktiv Pakt2030
Climate change mitigation and quality of life must go hand-
in-hand. It is with this conviction that BUWOG has made a 
voluntary commitment to reduce carbon emissions by 
55 percentage points by 2030. The ­Vonovia subsidiary is one 
of only eleven Austrian major companies – and the only one 
in the real estate sector – to be accepted into the Austrian 
Federal Ministry for Climate Action’s new “klimaaktiv” pact, 
and, with its voluntary commitment, even exceeds the target 
of reducing carbon emissions by half by 2030. This solidifies 
BUWOG’s leading position in the area of climate change 
mitigation. “We hope that we can also motivate as many 
other real estate companies as possible to work on reducing 
their carbon emissions,” says BUWOG chief Valerija Karsai. 
In order to achieve this ambitious goal, BUWOG is imple-
menting a number of measures within the building portfo-
lio – first and foremost, insulation refurbishment, improve-
ments in the efficiency of heating systems and switching to 
more eco-friendly energy sources. In new construction 
projects, properties are built exclusively with low-energy 
status, flanked by greening and environmentally friendly 
mobility solutions. You can find more about the
 klimaaktiv 
Pakt online.
“klimaaktiv” 
is a climate action initiative launched by 
the Austrian Federal Ministry of Climate 
Action, Environment, Energy, Mobility, 
Innovation and Technology (BMK). The 
initiative develops quality standards 
and, in addition to training and educa-
tion programs, also offers consultation 
and information services and has a large 
partner network in its portfolio.
„We hope that we can also 
motivate as many other 
real estate ­companies 
as possible to work on 
reducing their carbon 
­emissions.“
Daniel Riedl, Vonovia CDO
33

Vonovia SE Sustainability Report 2021
Environment — Environment and Climate
Renewable Energies and Energy Mix 
GRI 103-1, 103-2, 103-3, 302-4
Our Approach
We take a two-pronged approach to achieving our climate 
objectives: in addition to using energy efficiently and reduc-
ing energy consumption (see
 Reducing CO2 in the Real Estate 
Portfolio/Energy-efficient Modernization), we are also committed to 
expanding our use of renewable energy. Our holistic and 
neighborhood-based approach will play a significant role in 
the success of this strategy due to long-term synergy effects 
and an expanded package of measures. A major lever that 
can be used to reduce greenhouse gas emissions is the 
expansion of renewable sources of energy. That is why we 
see our residential neighborhoods as the linchpin of a decen-
tralized energy revolution. We want to implement innovative 
methods of generating renewable energies and actively 
promote their use in our own properties, especially at a 
neighborhood level. We want to continuously increase the 
proportion of renewable energies being consumed and 
generated. We want to do this by making greater use of 
hybrid heating systems, expanding heat pumps and photo-
voltaic systems, solar thermal systems, pellet heating and 
integrated neighborhood systems, which will link these 
technologies to each other as well as to storage technolo-
gies, in order to serve buildings in groups instead of individu-
ally. We are also piloting innovative approaches such as the 
use of hydrogen technology in combination with electricity 
from renewable sources.
Continual expansion of 
renewable 
energy sources
in the neighborhoods
One of the most important ways in which we contribute to 
the decentralized supply of renewable energies is by install-
ing PV systems on the roofs of our properties. We will 
significantly increase our generation capacity over the next 
few years. We also aim to install photovoltaic systems on all 
suitable roofs. In light of the increasing regional demand for 
photovoltaic systems, we have included expanding our use 
of photovoltaic systems as a key measure of the perfor-
mance of our regional managing directors. 
Ongoing installation of 
PV systems 
on all suitable roofs 
We are convinced that innovation and developing new 
solutions have a crucial role to play in our ability to achieve 
objectives in the area of Climate and Energy. We have such a 
strong focus on innovation and research because because 
we believe that reducing the carbon emissions of our build-
ings to zero will not be possible or economically viable 
simply by implementing energy-efficient refurbishments of 
building envelopes and using existing technology (see
 ­Vonovia Innovation Platform).
­Vonovia enables its own tenants to buy certified electricity 
from renewable energy sources via its own energy service 
company (VESG) so that they can reduce their carbon 
footprint. In the medium and long term, ­Vonovia is counting 
on implementing concepts for supplying energy to its own 
buildings. Our objective is to maximize the share of energy 
we produce ourselves for the benefit of our customers and 
the environment, and also to use it for our housing-related 
services, e.g., e-mobility. This will also reduce the amount of 
resources that we consume by simplifying our accounting 
and administrative processes, consolidating procedures and 
reducing the workload for employees.
Our plan in Austria involves supplying heat from sustainable 
energy sources from the public supply network (e.g., district 
heating in Vienna). We are focusing on an energy mix that 
includes a significant proportion of renewable energy 
sources. Wherever possible, we want to provide a way for 
buildings to generate their own power. We want to avoid 
changes at a later date as this could involve additional 
switching costs for residents. This will also ensure that our 
apartments stay attractive and above all affordable over the 
long term.
The switch to renewable energy is also fully underway for 
our portfolio in Sweden. We also have set ourselves a target 
of reducing energy consumption per square meter by 30% by 
2030, compared to 2015 levels. In the future, all of our new 
buildings will perspectively be certified in accordance with 
the Miljöbyggnad Silver Standard of the Swedish Green 
Building Council to ensure a consistently high level of energy 
efficiency and work together with local energy providers to 
identify potential savings. 
 
 
34

Vonovia SE Sustainability Report 2021
Environment — Environment and Climate
Objectives & Measures
One of the milestones along the path to making our portfolio 
climate neutral is reducing the carbon intensity of the 
­Vonovia building stock to 25 kg CO2e per m2 of rentable area 
by 2030 and to increase the share of renewable energy 
sources (see
 Reducing CO2 in the Real Estate Portfolio/Energy-effi-
cient Modernization). Expanding use of photovoltaic systems is 
one of the measures that we are using to achieve this 
objective. After focusing our efforts on drawing up plans and 
running trials in 2020, the reporting year was all about 
scaling up. We achieved our objective of setting up photo-
voltaic systems on 1000 flat roofs last year (see
 project box 
“Landlord-to-Tenant Electricity From 30,000 Roofs”). We want to 
install photovoltaic systems on 17,000 roofs by 2030 in  
order to harness the considerable potential of suitable roof 
areas. This is equivalent to an installed output in excess of 
200 MWp (compared to 16.8 MWp in 2021). In order to 
achieve this goal, we are also investing in in-house installa-
tion capacities and creating about 100 new jobs. By 2050, we 
intend to fit all 30,000 suitable roof spaces in the German 
portfolio with PV panels. Looking ahead - as soon as the 
legal context provides the opportunity/the realm - the plan 
is to perspectively use the energy generated directly as 
landlord-to-tenant electricity in the individual neighbor-
hoods as soon as the overall legal conditions make this 
commercially feasible. The first such efforts were started in 
the year under review. 
Creation of 
around  
100 new jobs
Organizational Focus 
All activities relating to renewable energies and energy 
distribution in Germany are organized in the Value-add 
business area and are managed by a chief representative 
who reported directly to the CEO of ­Vonovia SE until the end 
of the 2021 fiscal year. This responsibility moved to the Chief 
Transformation Officer (CTO) with effect from January 1, 
2022. Energy sales, through which our customers can sign 
green electricity contracts directly with ­Vonovia, are handled 
through the company’s own ­Vonovia Energie Service GmbH 
(VESG). The PV program and other innovative approaches 
aimed at the carbon optimization of the real estate portfolio 
as part of the neighborhood concept are developed and 
managed by the Innovation & Business Building department.
Business operations in Austria are the responsibility of the 
Chief Development Officer (CDO) and Managing Directors 
under the umbrella of BUWOG. All sustainability-related 
measures (for both new construction and the existing 
portfolio) are developed and managed by the Development 
and Property Management divisions. 
The Division Heads of Victoriahem in Sweden are responsi-
ble for planning and installing photovoltaic systems on the 
roofs of buildings in the company’s portfolio. The head of the 
Energy and Environment department and the respective 
team support this process by providing technical advice and 
calculating savings in partnership with the Business Control-
ler. The Head of the Energy Management team reports to 
the COO.
Photovoltaic Plants Installed
295
424
451
2019
2020
2021
500
400
300
200
100
0
35

Vonovia SE Sustainability Report 2021
Environment — Environment and Climate
PROJECT
>1,000 roofs 
already equipped with photovoltaic systems –  
target achieved
However, the decentralized energy supply strategy is reliant 
on some external factors. Our efforts to expand our use of 
photovoltaic systems in the reporting year were slowed by 
supply bottlenecks that affected materials like solar modules 
and meter boxes. The skills shortage also had an impact, as 
we found when we were unable to meet our need for electri-
cians (see
 Corporate Culture and Employees). We continued the 
time-consuming process of fostering expertise internally in 
response to the skills shortage in 2021. We plan to press 
ahead with these measures on the basis of our insourcing 
strategy in 2022, with the goal of carrying out the work 
through our own craftsmen’s organization.
In the reporting period, we achieved the 
target laid out in our 2019 “1,000 roofs” 
program of fitting at least 1,000 roofs in our 
portfolio with photovoltaic modules. This 
still is not enough, though, as ­Vonovia 
intends to focus much more heavily on solar 
energy in the future. Our new goal is to fit 
every suitable roof in our building portfolio 
with photovoltaic systems as part of our 
quest to achieve climate neutrality. That’s 
30,000 roofs by 2050. By 2030 we want to 
Construction Minister 
of North Rhine-West-
phalia, Ina Scharren-
bach (pictured here 
with CEO Rolf Buch) 
visited the site and 
was impressed with 
how ­Vonovia’s plans 
for increasing the use 
of renewable energies 
are being imple-
mented. The “1,000 
roofs” program was 
completed in ­Bochum 
in the summer.
Landlord-to-Tenant 
Electricity From 
30,000 Roofs 
have already achieved over half of our target with 17,000 roofs 
fitted, which will generate 194 million kWh of climate-­friendly 
solar power and avoid 76,500 t of CO2 every year. 
We will manage our “30,000 roofs” project ourselves, 
creating around 100 new jobs. While the energy generated 
from the “1,000 roofs” program is fed into the public grid for 
the most part, in the medium to long term ­Vonovia is 
seeking to decentralize the energy supply to its own neigh-
borhoods and landlord-to-tenant electricity systems. The 
green energy generated through our “30,000 roofs” program 
will be used for landlord-to-tenant electricity in addition to 
heat generation and e-mobility. Tenants will benefit from 
this with cheaper electricity costs over the long term. 
“­Vonovia is taking action and is focusing on landlord-to-
tenant electricity. Electricity generated on roofs and made 
directly available to tenants is setting new standards. It is an 
intelligent form of energy generation,” said Ina Scharrenbach 
regarding ­Vonovia’s plans to install PV systems on 
30,000 roofs.
36

Vonovia SE Sustainability Report 2021
Environment — Environment and Climate
Linking local energy management systems together in an 
intelligent way also includes e-mobility approaches. We are 
still working on the development of a range of scalable 
mobility concepts and solutions for needs-based charging 
infrastructure. Since each neighborhood is unique and has 
its own features and requirements, we are developing the 
concepts in such a way that the regions can use them as 
they see fit. One core element of our research and develop-
ment work in this area is the expansion of charging infra-
structure. The plan is for tenants with their own parking 
space to get a wallbox on request and pay for their electric-
ity through ­Vonovia. 
Biodiversity 
GRI 303-5, 306-2
When designing our neighborhoods, we find a balance 
between what is ecologically valuable and what is economi-
cally sensible. We take care to choose appropriate mea-
sures, such as landscaping, planting trees, installing nesting 
boxes, creating urban meadows and making sure there are 
suitable habitats for insects. We use forward-looking plans 
to ensure that aspects such as maintenance and potential 
future changes in climatic conditions are taken into account. 
We have established standard procedures for preparing 
biodiversity reports for flora and fauna. The purpose of these 
reports is to ensure that all of the animal and plant species 
in an area are protected and maintained. We also use 
woodland surveys to determine the health and conservation 
value of the roughly 215,000 trees that comprise the wood-
land in the vicinity of our buildings and neighborhoods. We 
take a number of steps to maintain biodiversity when 
building new homes, such as the creation of green areas 
(see
 Sustainable Construction and Refurbishment). 
Over the course of the reporting year, we gradually 
expanded our partnership with Naturschutzbund Deutsch-
land e. V. (NABU), which began in 2019. Over 30 projects 
have been completed or are being developed nationwide on 
the basis of this partnership in locations including Berlin, 
Leipzig, Hamburg, Osnabrück and the Ruhr valley. Since this 
partnership began, in addition to converting over 100,000 m2 
of general purpose lawns into wildflower meadows, we have 
created more than 250 insect habitats and installed over 
500 nesting boxes for swifts and roosts for bats. The NABU 
experts also recommended site-specific seed mixtures for 
the 22 different geographic areas in Germany. We continued 
to work together in 2021 on projects aimed at the revitaliza-
tion of habitats in rainwater retention basins and other 
worthwhile causes. We also organized a coronavirus-safe 
walk through the neighborhood in partnership with NABU so 
that the tenants of our pilot neighborhood in Bochum-­
Weitmar would have a chance to learn about our commit-
ment to protecting biodiversity when we develop residential 
25,000 
­customers 
were supplied with  
green power in 2021
We are expanding our activities as an energy services 
provider because the ability to generate and supply energy 
on a decentralized basis play a key role in the energy revolu-
tion. We supplied green power to around 25,000 customers 
in 2021 through our energy distribution company VESG 
(­Vonovia Energie Service GmbH). Our focus in terms of 
energy generation is on promoting networked neighborhood 
systems and sector coupling. This involves linking the 
electricity, heating and mobility sectors so that the electric-
ity generated locally and the heat generated can be used for 
the apartments – turning our neighborhoods into efficient 
small power plants (prosumers). We are also piloting 
innovative approaches, such as a wide variety of storage 
systems – with a particular focus on the short-term and 
seasonal storage of energy – and maintained our partner-
ships with a variety of scientific institutions and partners 
during the reporting year. We opened the Power House of 
the Future project in April 2021 in Bochum-Weitmar with the 
aim of researching innovative energy systems and imple-
menting them in practice. The project will also provide vital 
information and data that will be used to develop and scale 
technologies. Innovative technologies, including an electro-
lyzer that uses electricity to produce hydrogen, fuel cells, 
heat pumps and stratified storage that cover at least 60% of 
the heating needs of buildings and households in the area 
with carbon-free heat from a local source. We generate 25% 
of the power required locally using our own rooftop photo-
voltaic systems. As part of another research project in 
Bochum-Weitmar, we are developing an innovation neigh-
borhood with a focus on climate change mitigation in 
partnership with scientists from a number of different 
Fraunhofer Institutes and Ampeers Energy GmbH. This 
project is funded by the state of North Rhine-Westphalia. 
Power House  
of the future 
opened in Bochum-Weitmar  
in April 2021
37

Vonovia SE Sustainability Report 2021
Environment — Environment and Climate
We take the suggestions of our tenants into consideration 
when we run projects to upgrade their residential environ-
ment. We integrated a wide range of suggestions from our 
tenants into the redesign of the neighborhood in Duisburg-­
Hüttenheim, for example. We are planning to include a 
wildflower meadow and an insect habitat, along with other 
green areas for tenants. ­Vonovia also commissioned a wood-
land survey so that we can protect as much of the local 
woodland as possible. We worked together with experts  
to decide which trees to keep and which should be replaced 
by planting new trees. To date, we have created around 
170 tenant gardens nationwide. In the coming years, we 
anticipate a significant expansion of this scheme to more 
than 2,000 tenant gardens in Germany.
Around 170  
tenant gardens 
created nationwide
Water, Effluents and Waste 
GRI 303-5, 306-2
The increasing scarcity of water is becoming an increasingly 
important topic of discussion in Germany. Climate change is 
already making itself known in the form of longer periods of 
dry weather and more frequent heavy rain and storms. We 
are assuming that these will become more common in the 
future. Although our portfolio has been relatively unaffected 
so far, we are preparing for the possible consequences. To 
this end, we are working on measures that will help to 
mitigate extreme weather conditions at a microclimate level 
or have the capacity to cool urban heat islands, such as 
greening the facades of buildings or installing roof trenches. 
We need an innovative approach to water management that 
will be able to handle the challenges of the future. There is 
significant potential in local rainwater seepage systems 
(based on retention basins and green roofs, for example) 
and using rainwater to water gardens.
We integrated additional risk and damage minimization 
measures into our standard processes during the reporting 
year. These include soil and flood surveys, which will allow 
us to draw up more effective water management plans for 
our neighborhoods. Our planning process includes a digital 
terrain model in order to minimize water damage. In the 
future we intend to use our existing geoinformation system 
to improve the available data even further so that we can 
plan and implement measures with even more precision. 
environments. We also held a walk for our stakeholders 
(incl. communication with the city, the Emschergenossen-
schaft water board, the planning office, NABU and ­Vonovia 
community development). 
>100,000 m2 
of general purpose lawns converted  
into wildflower meadows
More than 500
 nesting boxes for swifts  
and bats created
We are also working together with the NABU at our site in 
Bochum. An ecological nature trail is being created around 
­Vonovia’s headquarters, which will inform employees and 
visitors about the eco-friendly measures we are implement-
ing in our residential environments.
Ecological  
nature trail 
around the corporate headquarters in Bochum created 
as part of the cooperation with NABU
We actively involve our tenants in order to raise their 
awareness of ecological issues, e.g., by landscaping common 
areas to make them close to nature or setting aside spaces 
that can be used for urban gardening. We launched a 
partnership with the non-profit organization Acker e. V. 
(previously known as Ackerdemia e. V.) in 2020. We support 
the “Gemüseakademie” project, which uses vacant land on 
the grounds of nurseries and primary schools to grow fruit 
and vegetables. This gives children a chance to find out 
about plants and gardening. We will use other projects like 
“Bohnenabenteuer” and “Ackerhelden” to make the resi-
dents of our neighborhoods more aware of biodiversity. We 
include articles about projects of this kind in our customer 
magazine “zuhause” on a regular basis. 
38

Vonovia SE Sustainability Report 2021
Environment — Environment and Climate
Waste separation concepts for good waste management 
and the promotion of recycling play a particularly important 
role in our construction and refurbishment work because 
they enable us to reuse valuable resources like windows  
(see
 Sustainable Construction and Refurbishment). They are also 
becoming increasingly relevant for waste management 
purposes in our neighborhoods. During the year under 
review, we expanded our use of sustainable recycling 
schemes in our neighborhoods. We launched a pilot project 
in a neighborhood in Essen to investigate ways in which we 
can recycle green waste and separate household waste. Our 
findings will be rolled out to other neighborhoods in the 
future. We separate the waste produced in offices and 
common areas and do not use disposable items in the 
cafeteria. In Sweden we involve our tenants in the subject of 
waste separation and tell them about the opportunities that 
exist in the area of waste separation and prevention. This is 
one  
of the ways in which we plan to significantly reduce the 
amount of waste in Sweden – by 30% by 2030.
By means of careful documentation and monitoring of the 
work carried out on the construction sites by qualified staff 
and health and safety officers, we always strive to ensure 
that (contaminated) materials are disposed of correctly and 
lawfully. We provide ­Vonovia technicians with training on 
how to dispose of materials correctly.
There is also potential in how we manage our green spaces. 
We recycle horticultural waste for energy production in 
biomass power plants, compost green waste and use 
left­over wood offcuts as lumber. We are making use of these 
opportunities by developing new and sustainable schemes 
for recycling and reusing materials. 
Energy Efficiency and Carbon Reductions in 
Operations 
GRI 302-1
Letting homes is not a resource-intensive business. In 
contrast to the situation in the manufacturing industry, our 
business operations only account for a small part of our 
carbon emissions – around 3%. Nevertheless, we continu-
ously seek out opportunities to increase our level of resource 
efficiency and reduce our impact on the climate and the 
environment in our internal processes. Our vehicle fleet, our 
tools and appliances, our own office buildings and the 
behavior of our employees all offer opportunities to make a 
difference, e.g., by transitioning the fleet to low-emission 
vehicles, using power-saving electrical appliances for work 
in neighborhoods, buying green power for office buildings 
and avoiding business travel and transport. 
The BIM method (building information modeling) is one of 
the ways in which this is supported in the planning of open 
spaces.
Digital terrain 
model 
in order to minimize water damage  
included in planning process
Examples of water management measures in our portfolio:
 > Partnership with NABU NRW to revitalize habitats in 
rainwater retention basins and to create green roofs and 
facades with the help of tenants (in progress since 2020)
 > Implementation of a community development project with 
integrated rainwater management in the Eltingviertel in 
Essen (in progress since 2020)
 > Implementation of a pilot project to prevent water damage 
by identifying and communicating burst pipes early in 
order to keep consequential damage to a minimum  
(in progress since 2020)
 > Planning of integrated water management in the pilot 
neighborhood of Bochum-Weitmar (including cooperation 
and study with the Fraunhofer Society)
We use water-saving sanitary systems in our offices to 
reduce water consumption. We provide drinking water 
systems for the roughly 1,000 employees who work at the 
corporate headquarters in Bochum to reduce their use of 
plastic.
39

Vonovia SE Sustainability Report 2021
Environment — Environment and Climate
We completed a DIN EN 16247-1 energy audit in Germany in 
2020. The areas that were identified for improvement can be 
applied to the entire Group due to the homogeneity of asset 
structures and consumption patterns at ­Vonovia. The audit 
found that ­Vonovia employees were highly aware of how to 
use energy efficiently. We use a number of energy-saving 
and resource-efficient measures in our offices, including LED 
lighting, motion sensors to turn lights on and off, and air-
source heat pumps as an energy-efficient heating solution. 
We are also moving towards paperless offices.
Measures already implemented in the vehicle fleet:
 > Fuel-efficient vehicles procured
 > Transparency ensured by assessing consumption of 
individual vehicles
 > Conversion to e-vehicles in Austria
 > Training course on fuel efficiency for drivers/­
employees
 > Use of electric vehicles for short trips
 > Eco-tuning
 > Use of fuel-saving tires and engine oil
The company is also working towards using and generating 
energy in a manner which is better for the environment by 
switching all of the administrative buildings that it owns over 
to green electricity provided by VESG. This switchover will 
start on January 1, 2022, with around 60 sites concentrated 
in the South region. In the future, all of these sites will be 
supplied with carbon-free green electricity. All office loca-
tions of BUWOG in Austria have used certified green 
electricity (UZ46) since 2021. In addition to improving our 
carbon footprint, this also optimizes our internal processes. 
We want to roll this model out to other regions in 2022. 
All administrative buildings in the company’s own 
portfolio gradually switching over to 
green electricity 
provided by VESG
The vehicle fleet accounts for about three-quarters of 
emissions from our business operations. ­Vonovia has around 
5,750 vehicles, the majority of which are used by our service 
technicians. This is therefore where we have the most 
leverage for reducing carbon emissions in our own pro-
cesses. We continued the process of switching our fleet over 
to low-emission vehicles over the course of the year. When-
ever possible, we provided innovative transport solutions 
based on small low-emission vehicles. The company limited 
the speed of its commercial vehicles to reduce emissions. 
We are also continuing to switch our fleet over to electric 
vehicles and are using more bikes and electric bikes. Electric 
vehicles are now available as company cars. We continued 
to add electric vehicles to our fleet in Austria. This allowed 
us to reduce the average emissions of our fleet from 221 in 
the previous year to 210 g CO2e/km. Average fuel consump-
tion was 6.9 l/100 km (2020: 7.3 l/100 km). As a result, we 
reduced our overall fuel consumption despite increasing the 
size of our fleet by around 60 vehicles.
Further reduction in average emissions of the fleet to
210 g CO2e/km 
(previous year: 221 g CO2e/km) 
Our residential environment organization also made signifi-
cant advances during the reporting year, and replaced 
around 1,000 combustion engine components with environ-
mentally friendly battery-powered versions. The new appli-
ances are highly recyclable and have the potential to signifi-
cantly lower carbon and noise emissions, benefiting our 
tenants and improving the health of our employees.
Around  
1,000 
combustion engine components replaced with 
­environmentally friendly battery-powered versions
40

Environment — Sustainable Construction and Development 
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HIGHLIGHTS 2021
Sustainable Construction 
and Development 
GRI 102-9, 102-13, 302-5
UNGC Principle 1, Principle 7, Principle 8, Principle 9
Disclosure
Taking responsibility for the environment, conserving 
resources and meeting the needs of society are the founda-
tion for lasting success in the real estate industry. In addition 
to a growing awareness of sustainability among our custom-
ers and partners, we are seeing more and more ambitious 
targets being set at a government and regulatory level. In 
2021, the German government set itself the objective of 
achieving climate neutrality by 2045. The European Union 
announced a net zero target as part of the European Green 
New Deal, which it intends to meet by 2050. The EU Taxon-
omy lays down criteria in a number of relevant areas, includ-
ing energy efficiency of new buildings, climate change 
adaptation, the circular economy and the use of materials. 
On the other hand, demand for new homes remains high; 
the recently signed Coalition Agreement expects 
400,000 new homes to be built each year. 
As one of the largest residential real estate companies in 
Europe, we can make a decisive contribution to meeting 
these objectives by finding approaches to building and 
development that are both sustainable and economically 
viable. This is particularly important given the fact that 
residential real estate is frequently used for far more than 
50 years. Because of this, all of our new construction and 
refurbishment efforts have to be fit for the future so that we 
can meet the challenges that lie ahead. Increases in the price 
of materials and supply chain disruption have the potential 
to pose a risk to the economic viability of construction and 
development projects. By researching and using innovative 
construction materials and processes, we can meet our 
obligations to society and under the law, while also 
­achieving our own sustainability and climate change miti­
gation objectives and remaining economically viable and 
­competitive.
 > Primary energy demand of newly built apart-
ments introduced as a key performance indicator 
in the SPI 2021 Sustainability Performance 
Index – this amounted to 38.6 kWh/m2 in 2021
 > 2020 target almost achieved: 2,135 new apart-
ments completed Group-wide (target: approx. 
2,300)
 > More than 90% of new buildings completed in 
Germany are in energy efficiency class A or A+
 > Signing of the new “klimaaktiv Pakt2030” agree-
ment and pursuit of the climate targets set 
therein until 2030
 > Analysis of the climate footprint of a building 
throughout its entire life cycle and the use of 
sustainable construction methods (e.g., hybrid-
timber structures and pre-fabricated parts) 
41

Environment — Sustainable Construction and Development 
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Our holistic approach to construction and refurbishment 
extends to how we procure and use sustainable materials 
and products, in addition to ensuring that statutory require-
ments are met in our supply chains. We are committed to 
implementing the requirements of the Duty of Care in 
Supply Chains Act (LkSG) in order to identify and minimize 
risks in the supply chain. An additional benchmark here will 
be the applicability of the minimum safeguards criteria of 
the EU Taxonomy. These criteria help to make our supply 
chains more resilient and less susceptible to disruption. 
Failing to meet these requirements would damage the 
reputation of ­Vonovia and could result in legal fees.
We have identified Sustainable Construction and Refurbish-
ment as a material topic due to its importance in the context 
of our business model. Other important topics are Sustain-
able Materials and Products and Social and Environmental 
Standards in the Supply Chain.
Sustainable Construction and Refurbishment 
GRI 102-9, 102-13, 103-1, 103-2, 103-3, 302-5
Our Approach
­Vonovia’s construction projects create fairly priced homes 
that are urgently needed, particularly in metropolitan areas. 
Our construction and conversion projects focus on optimiz-
ing energy efficiency, renewable energy and using environ-
mentally conscious construction methods that conserve 
resources, with a greater use of renewable resources. We 
also make sure that the layouts of our buildings and devel-
opments are suitable for a wide variety of lifestyles, in 
addition to providing accessible homes. Our strategy is 
economically and ecologically sustainable, and combines 
profitability with our objective of being climate neutral by 
2045 (see
 Climate Path).
Climate 
and energy-­
efficiency 
­targets 
an integral part of Management Board decisions  
on new construction projects 
We set clear targets and integrate sustainability aspects into 
our decision-making processes. We have clear, Group-wide 
targets for energy consumption and efficiency standards for 
all construction projects. The average primary energy 
demand of newly constructed buildings, in relation to rental 
area, make up the most important performance indicator. 
This performance indicator is part of the planning process 
and must be made transparent as part of all Management 
Board approvals of newbuild and development projects.
By taking a holistic neighborhood-based approach to devel-
opments, we bring together planning expertise and con-
struction (see
 Society and Contribution to Urban Development). 
This involves focusing on vertical expansion and densifica-
tion in order to provide additional homes while minimizing 
surface sealing. Our approach is complemented by our 
Building Information Management (BIM) strategy, which 
allows us to identify effective measures on the basis of data 
from across the entire life cycle of our neighborhoods. This 
reflects our commitment to long-term sustainability, which 
takes a close look at every stage of a building’s life – from 
42

Environment — Sustainable Construction and Development 
Vonovia SE Sustainability Report 2021
Development
> Identification of 
acquisition oppor-
tunities
> Assessment of 
development oppor-
tunities
> Due diligence  
(legal, tax, techni-
cal, environmental, 
etc.)
> Cross-disciplinary 
acquisition teams
> Development of 
project pipeline, 
property database
> Design idea
> Analysis of market 
and regulations
> District and city 
representatives, 
citizens, service 
providers and other 
stakeholders
> Construction 
­optimization and 
city development
> Coordination of 
zoning
> Integral planning 
and cross-disciplina-
ry project teams
> Type and product 
development
> Determination of 
aesthetic, ecologi-
cal, functional  
and economic 
­requirements
> Detailed project 
calculation
> Professional 
­planning
> Coordination 
of ­construction 
­approval process
> Development of 
marketing concepts
> Sale
> Initial rental
> Customer service 
and aftercare
> Preparing for 
­construction
> Procurement and 
awarding of cons-
truction contracts
> Trade coordina-
tion/construction 
­management
> Construction
> Quality control
1 Acquisition
2 Development
3 Planning
4 Construction
5 Marketing  
and Sales
finding plots of land through to handing over the keys and 
demolition – in order to minimize its emissions, the impact it 
has on the environment and the amount of resources that it 
consumes. Our holistic approach to the planning process 
includes incorporating elements such as playgrounds and 
leisure areas, charging stations and wildflower meadows 
into the residential environment. The progress that has been 
made – particularly in terms of reducing the annual carbon 
emissions of our portfolio and the energy efficiency of new 
buildings – was incorporated into the SPI, a non-financial 
indicator that was introduced in 2021 (see
 Sustainability in the 
Corporate Strategy).
It is extremely likely that only projects that meet the KfW40 
standard will be subsidized in Germany going forward. Based 
on guidance from the government, this standard will be the 
new statutory construction standard from 2025 onwards. 
We are already using this standard as a benchmark in our 
projects. We also look at the option of applying for sustain-
ability certification for large-scale development projects 
from the German Sustainable Building Council (DGNB), its 
Austrian counterpart the Austrian Sustainable Building 
Council (ÖGNI), or for certification in accordance with the 
klimaaktiv building standard or the Green Pass. These certifi-
cation programs make it possible to verify and compare the 
sustainability performance of different properties so that we 
can meet the expectations of a wide variety of interest 
groups, such as investors, owners, tenants and the general 
public.
Organizational Focus 
BUWOG focuses on the development of high-quality resi-
dential neighborhoods for the company’s own portfolio (to 
hold) and for direct sale (to sell) in Germany and Austria. 
These activities are the responsibility of the Chief Develop-
ment Officer (CDO), and the individual development proj-
ects are approved by the Management Board. Until recently, 
­Vonovia Technische Service GmbH (VTS) worked together 
with the regions in Germany on new construction projects, 
with a particular focus on densification and the addition of 
extra stories as part of our neighborhood development 
projects. The decision was made to integrate the new 
construction division of VTS into BUWOG Germany during 
the reporting year. The central Procurement department is 
responsible for supplier management and the processes for 
procuring construction materials and services. Architects, 
technical building service engineers and structural engineers 
are responsible for agreeing on the best use of sustainable 
construction methods, insulation and technology in internal 
modernization and development and construction projects. 
All plans for development and new construction projects are 
examined carefully by the ­Vonovia Management Board and 
approved. 
Objectives and Measures 
To achieve our aim of creating new and affordable housing, 
we set ourselves a target of around 2,300 completions for 
the portfolio and direct sales (to hold and to sell) Group-
wide in 2021. By completing around 2,200 apartments across 
the Group, we almost reached this target despite the 
corona­virus pandemic. Across the Group we were able to 
Valuable Contributions to Society and the Group
43

Environment — Sustainable Construction and Development 
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NEW NON-FINANCIAL
PERFORMANCE METRIC 2021
be taking a closer look at the methodology that we use to 
assess the disposal and reuse of materials. 
Investigation and analysis of the 
climate  
footprint 
over the life cycle of a building
We believe that this approach will allow us to compare a 
range of different construction methods in terms of their 
sustainability, expense and potential for a return. This will 
make it possible for us to use sustainable construction 
methods involving wood frame, solid wood or hybrid-timber 
structures, in addition to using pre-fabricated parts. We will 
continue our strategy of integrating different energy sectors 
together and generating our own energy. These approaches 
will provide new ways to significantly reduce our carbon 
emissions. A pilot project looking at this area is due to start 
in 2022, and will involve a total of 167 residential units in the 
Münsterberger Weg neighborhood in Berlin. The project will 
be the largest neighborhood made purely of timber struc-
tures from a single provider. It will also integrate a number of 
different energy systems together in order to ensure that 
more than 55% of the neighborhood’s energy comes from 
transfer 1,373 of these new residential units to our own 
portfolio, of which 1,073 are located in Germany. In addition, 
8,000 further apartments are in the planning stage – includ-
ing for the company’s own portfolio. The overall potential (to 
hold and to sell) is significantly higher and comprises – 
including the medium-term development potential of 36,000 
units – a development pipeline of approximately 49,000 
residential units (see
 Portfolio in the Development Business). 
2021 target of
2,300  
completions 
almost reached
The average primary energy demand of newly constructed 
buildings, in relation to rental area, make up the most 
important performance indicator. Our aim is to reduce this 
significantly in the medium term. The increase in average 
primary energy demand in 2021 (2020: 35.7 kWh/m2, 2021: 
38.6 kWh/m² per year) is attributable to projects that had 
already been planned and approved under other framework 
conditions prior to the setting of our goals. For the same 
reason, we expect this figure to increase slightly in 2022 to 
49.0 kWh/m² per year, before going down significantly in 
subsequent years (2025 forecast: 31.0 kWh/m² per year). 
This will be achieved by insulating buildings to a high 
standard, focusing on district heat with a low primary energy 
factor and the increased use of air source heat pumps 
combined with photovoltaic systems. These efforts have 
allowed some projects to meet the KfW Effizienzhaus EE 
standard, which requires a building to use renewable energy 
for more than 55% of its heating and cooling needs.
During the reporting year, we analyzed the climate footprint 
of a building throughout its entire life cycle (i.e., from the 
manufacturing process used for the construction materials 
through to the running of the building and its ultimate demo-
lition) in order to find ways to make the construction pro-
cess more environmentally friendly and less resource-inten-
sive. We compared six different construction methods in 
terms of their carbon emissions, primary energy require-
ments and resource intensity. We will use the results of this 
analysis to calculate the emissions and requirements of all of 
our development and construction projects so that they can 
be incorporated into the planning phase. This data can also 
be used as the basis for subsidies and certification in future. 
The next step of this process involves determining the costs 
involved in each of these construction methods. We will also 
38.6 
kWh/m2 p. a. 
average primary 
­energy demand  
of new buildings  
(2020: 35.7 kWh/m2)
is based on energy performance certificates, 
excluding purely commercial spaces and 
­vertical expansions
44

Environment — Sustainable Construction and Development 
Vonovia SE Sustainability Report 2021
 
9.4% >50 and
≤75 kWh/m2a
(equivalent to 
eﬃciency class B)
53.3% >30 and
≤50 kWh/m2a
(equivalent to 
eﬃciency class A)
37.3% ≤30 kWh/m2a
(equivalent to
eﬃciency class A+)
1,751 
residential units
Breakdown in %
* Based on energy certiﬁcates, excluding purely commercial spaces and extensions.
Proportion in relation to rental area.
PROJECT
renewables. The project also marks the first time that 
­Vonovia Technical Service (VTS) will be responsible for 
supplying energy to a neighborhood in this manner. The 
94 units completed between 2020 and 2022 that make up 
the Kompass- und Lotsenhäuser project in the 52°Nord 
neighborhood in Berlin-Grünau are made from hybrid-timber 
material and meet Niedrigstenergiehaus energy standards. 
A large proportion of the facade elements and floors are 
made from pre-fabricated European timber and meet the 
current KfW 40 energy efficiency standards.
We play our part in the circular economy by using construc-
tion materials that are separated out at the end of their life 
cycle so that they can be reused in future construction 
Over 90% of New Buildings Completed in Line With 
­Efficiency Class A or Better*
More green spaces, less soil sealing – that’s what the climate 
needs. In Berlin-Grünau, BUWOG is developing the
 neighbor-
hood 52° Nord on a former industrial wasteland on the banks of 
the Dahme River. It is based on the concept of a “sponge city”, 
embedded in a comprehensive sustainability strategy that pays 
special attention to the integration of biodiversity and seepage 
areas for rainwater. Rainwater is becoming more and more 
valuable as periods of drought and heat become longer and 
more frequent, even in Germany. It is therefore not drained 
away in the sponge city of Grünau. Instead, in addition to the 
green spaces, a 6,000 m2 rainwater retention basin with plants 
was integrated into the planning process. Based on the sponge 
city model, this basin collects the rainwater from the surround-
ing properties, cleans it biologically and returns it to the natural 
water cycle. It also serves as a biotope for aquatic animals and 
insects and helps to create a cooler microclimate on hot days. 
The neighborhood’s sustainability strategy also includes green 
roofs, an efficient local heating network and the advancement 
of electromobility.
In 2020, the BUWOG sponge city project was presented with 
the “Award Deutscher Wohnungsbau” for German construction 
projects. This is awarded by the Federal Foundation for Building 
Culture (Bundesstiftung Baukultur) in partnership with other 
organizations. By 2025, around 1,000 rental and owner-occu-
pied apartments will be built as part of various sub-projects 
that will meet a wide range of requirements, from family homes 
close to nature to student apartments, and will ensure a mixed 
and lively neighborhood life. One of the most architecturally 
imposing ensembles is BUWOG’s THE VIEW complex of three 
buildings, which was completed in June 2021.
Living on the 
Water: 52° Nord 
Sponge City
BUWOG’s THE VIEW trio was 
completed in June 2021.
45

Environment — Sustainable Construction and Development 
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projects. BUWOG has put the circular economy at the heart 
of a pilot project called Monte Laa in the 10th district of 
Vienna. The tender process involved specific questions 
about the planned amount of recycled and recyclable 
materials, which factored into how the bids were assessed. 
We will discuss and champion these and other approaches 
at our “Perspectives on the Future of Construction” confer-
ence, which is planned for 2022 (see
 project box “Construction 
Conference 2022 – a Look at the Future of Construction”). 
We have also spearheaded activities in this area outside of 
Germany, with one example being our involvement in the 
“klimaaktiv pakt” in Austria. The “klimaaktiv pakt” climate 
protection initiative was launched by the Austrian Federal 
Ministry for Climate Action, Environment, Energy, Mobility, 
Innovation and Technology. BUWOG has been involved in 
the initiative for many years. A new agreement was signed in 
2021 with targets set out for 2030. BUWOG is the only 
company in the Austrian real estate sector to have signed up 
to the agreement. It is now committed to reducing its carbon 
emissions by 55% by 2030, compared to the base year of 
2005. The initiative is largely focused on modernizing our 
existing portfolio, but does also set some criteria for new 
construction projects. It primarily addresses insulation 
refurbishments, improvements in the efficiency of heating 
systems and switching to more eco-friendly energy sources. 
All of BUWOG’s construction projects meet the Niedrigst­
energiehaus standard. Additional measures like adding 
green spaces and providing environmentally friendly mobil-
ity solutions (charging stations, rental bikes, parking spaces 
for bicycles) will also improve the sustainability of our 
neighborhoods (see
 Reducing CO2 in the Real Estate Portfolio/
Energy-efficient Modernization). The 25th floor of the Marina 
Tower project in Vienna’s second district was completed in 
January 2021. The project will provide around 500 new 
residential units spread over 40 floors by spring 2022. The 
project was awarded the klimaaktiv GOLD certificate in 2020 
due to the high quality of its construction materials and 
products, the fact that a comprehensive product and chemi-
cal management system is being used throughout the 
construction project, and the planned use of geothermal 
energy for heating, cooling and electricity due to the build-
ing’s proximity to the Danube. In Sweden, we aim for new 
buildings to meet the requirements of the Miljöbyggnad 
Silver Standard set by the Sweden Green Building Council. 
With this in mind we provide our employees with annual 
training courses on energy and environmental topics.
Following the end of the previous pact,  
a new agreement was signed in 2021 with
targets set out 
for 2030 
Making sure that construction site management are aware 
of their responsibilities has a key role to play in ensuring that 
construction and refurbishment are done in a sustainable 
way. The German Occupational Safety and Health Act 
(ArbSchG) requires us to meet a high standard when it 
comes to protecting the health of our employees and 
promoting their well-being (see
 Promoting Health and Safety), 
as do employer’s liability insurance associations and the 
German Employee Secondment Act. Construction site 
compliance with these requirements is ensured by a safety 
and health coordinator to ensure that these requirements 
are implemented and complied with as completely as 
possible. Our general contractors and subcontractors are 
also subject to strict safety standards. These include mea-
sures like risk assessments and discussions, on-site safety 
inspections, rules about fencing, warning signs, protective 
clothing and safety equipment, in addition to an obligation 
to provide regular training for all employees (see
 Promoting 
Health and Safety).
The German Waste Management Act (AWG) sets strict 
requirements for waste management. Mistakes like failing to 
sort waste properly carry the risk of significant financial 
penalties. While we are committed to sustainability in its 
own right, this provides an additional financial incentive to 
make sure that we have a responsible approach to waste 
management. That is why we include the cost of disposal in 
our tenders as standard in Germany and Austria.
Designing the residential environment and preserving 
biodiversity are top priorities for us (see
 project box “Living on 
the Water: 52° Nord Sponge City”). Numerous buildings feature 
green spaces that serve as natural habitats for flora and 
fauna at ground level, on roofs or on facades. In addition to 
the optical effects, these green spaces also offer a practical 
added value, for example, by slowing the flow of rainwater 
into the partially overburdened municipal sewage system 
and by making a considerable contribution to the microcli-
mate, especially by preventing heat from building up in 
densely populated urban areas. Attention is also paid to con-
serving resources and protecting the environment during the 
construction phase, too (see
 Biodiversity). 
46

Environment — Sustainable Construction and Development 
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PROJECT
Construction Conference 
2022 – a Look at the Future 
of Construction
The workshops provided a forum for 
intensive discussion and collabora-
tion in small groups.
The construction and real estate sector has a major social 
responsibility when it comes to climate protection targets. 
­Vonovia intends to live up to its responsibility. On March 23, 
2022, we organized a conference in partnership with the 
Fraunhofer Alliance on
 “A look at the future of construction”  
at the Berlin Design Offices. This event gave us the opportunity 
to discuss the topics of environmentally friendly and resource-­
conserving construction with various stakeholders.
The conference laid the foundations for discourse surrounding 
sustainable construction. In four workshops, players from the 
worlds of business, science and politics tackled the topics of 
production of building materials, renewable resources, recy-
cling, and supply chains and logistics. Particular attention was 
paid to the question of pricing policy, the availability of raw 
materials, and the conflict between sustainability and eco-
nomic efficiency. After all, the future of construction ultimately 
needs to be both sustainable and affordable for buyers and 
tenants. 
In the coming months, the working groups will begin to develop 
detailed proposals and approaches for the climate-friendly 
future of construction, which will be presented at the final 
event on November 23, 2022, at Futurium Berlin. 
47

Environment — Sustainable Construction and Development 
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We also implement a number of measures to protect 
species that are under threat. We make sure to follow all of 
the relevant statutory requirements in this area and ensure 
that surveys are done at an early stage of the planning 
process for every refurbishment or construction project to 
determine whether the project poses a threat or an issue to 
any protected plant or animal species in the area. We follow 
a strict statutory framework – which includes the German 
Federal Nature Conservation Act (BNatSchG) in Germany 
and the Federal Environmental Impact Assessment Act 
(UVP-G-200) in Austria – in addition to municipal building 
regulations and our internal planning guidelines (such as 
those related to protecting woodland areas and incorporat-
ing protected species into the planning process) in order to 
protect any species in the immediate vicinity of the con-
struction site that may be under threat. We commission all 
surveys required under biodiversity legislation whenever we 
buy new areas or plots of land for construction purposes. 
Whenever a survey uncovers a protected species, we 
implement a wide range of measures to ensure that this 
species is protected from the impact of any construction or 
refurbishment projects. We do this in close partnership with 
specialists and the relevant authorities. Whenever neces-
sary, we purchase land that can be used as an alternative 
habitat for endangered animal populations or for planting. 
Biodiversity surveys were used as part of the planning phase 
for the new development project on the grounds of the 
former freight yard at Brunsbütteler Damm in Berlin-­
Spandau. This project was scheduled to provide 320 units for 
students, families and older people by 2024. Before work 
began, we relocated a colony of sand lizards – which are 
strictly protected – to an appropriate habitat in partnership 
with the authorities in Spandau. In 2021, BUWOG worked 
closely together with the Nature Conservation Office in 
Leipzig to commission a survey of potentially protected 
species in advance of the construction of the Lößniger 
Straße neighborhood in the city’s Bayerischer Bahnhof 
district. BUWOG secured a 5.5 hectare area near the Hainer 
Lake as an alternative biotope for the population of green 
toads that were found by the survey. Their new habitat is 
due to be ready in spring 2022.
Sustainable Materials and Products 
Using sustainable materials and products for construction, 
refurbishment and demolition work has an impact on the 
climate and the environment and is becoming increasingly 
important. Sustainable construction methods such as 
modular timber or hybrid methods have a lower energy 
consumption and reduced carbon emissions over their entire 
life cycle (see
 project box “850 Cubic Meters of Wood for Sustain-
able Construction“). We also use mineral wool for insulation, 
which has less of an impact on the environment than com-
monly used polystyrene-based insulation. It is also import-
ant that buildings can be broken back down into their 
original constituent parts so that these materials can be fed 
back into the circular economy. Timber structures that are 
held together with screws and joints perform very well in 
this regard. In early 2021, we took our next step forward in 
this area by becoming a partner of Madaster, an initiative 
developing a global registry of materials. The online platform 
functions as a library of materials. We use it to manage data 
about the materials that go into our properties and create 
material passports. These documents contain information 
about the quality, origin and location of the materials used in 
a particular building. They also provide an insight into the 
financial value of a building and its materials, while also 
giving users an indication of the value of these materials in 
the circular economy.
Madaster  
partner
since early 2021 –  
an initiative to develop a global cadastre for materials
Raw materials in buildings are valuable resources that can 
be reused in various different ways. In the future, we there-
fore want to include the life cycle costs (production, opera-
tion, maintenance, refurbishment, reclamation) of compo-
nents and products in the product manual and planning 
guidelines for procurement purposes. Our product manual 
for Germany and Austria will have a section on the circular 
economy. The product manual will also be made binding for 
our partners in these countries and form part of our con-
tracts with them. As part of our Building Procurement Days, 
we run training workshops to inform our employees about 
the importance of sustainability in their day-to-day work and 
in the supply chain.
48

Environment — Sustainable Construction and Development 
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PROJECT
­Vonovia is committed to using environmentally sound raw 
materials and production methods, as well as sustainable 
and recyclable construction materials. We also drive product 
innovation in these areas where necessary. Sustainability 
and cost-effectiveness are not mutually exclusive. We 
prioritize energy-efficient electrical equipment in all of our 
renovation and construction projects, and are working hard 
to use more products that are made from secondary raw 
materials. In response to the increasingly tight rules sur-
rounding the disposal of materials, we avoid using hazard-
ous or toxic substances from the outset. Whenever the 
disposal of hazardous or contaminated building materials 
Sixty new apartments and a commercial unit have been constructed at Amendestraße on 
the corner of Herbststraße in Berlin using resource-conserving wooden modular construc-
tion systems. On October 5, 2021, the new building was opened after only 18 months of 
construction. Three-quarters of the apartments are barrier-free.
Timber construction offers numerous advantages when it comes to sustainability. The 
production process generates less than 30% of the carbon emissions of conventional solid 
construction. In addition, the timber also permanently absorbs CO2 – approximately one ton 
per cubic meter. It is also possible to deconstruct and reuse a large number of individual 
parts from the timber construction. Finally, the tenants benefit from a pleasant and healthy 
indoor atmosphere.
Modular construction approaches can cut construction time by a long way, and can drasti-
cally reduce the impact that the construction has on the residents of the surrounding build-
ings. In addition to the specific environmental advantages of modular timber construction, 
the project at Amendestraße incorporates yet more features of sustainable building design. 
The complex has been equipped with an air-to-water heat pump, a photovoltaic system and 
a green roof. Rainwater will largely be allowed to seep into the property grounds and will not 
be released into the sewer system. 
“Modular construction combines several pioneering elements of sustainable construction 
ranging from building materials to energy supply. In addition to saving resources, we were 
also able to save valuable time with the modular construction approach and see the process 
used at Amendestraße as a recipe for success that we plan to apply to other similar projects 
in the future.” Sebastian Jung, Managing Director – East, ­Vonovia
850 Cubic 
Meters of Wood 
for Sustainable 
Construction
Prefabricated 
modules are 
delivered during 
the construction 
period. 
-30%
carbon emissions with 
timber construction 
compared to conventio-
nal solid construction
49

Environment — Sustainable Construction and Development 
Vonovia SE Sustainability Report 2021
requires careful professional handling, we expect all of our 
service providers to comply with applicable legislation and 
regulations, particularly those concerning health and safety 
and environmental protection. Our own employees also 
receive regular training on these subjects.
Social and Environmental Standards in the 
Supply Chain 
GRI 308-1, 308-2 
We take the entire life cycle of new construction and refur-
bishment projects into consideration; this extends to how 
we procure materials from suppliers. That’s why compliance 
with social and environmental standards in the supply chain 
is an important topic for us and part of our sustainability 
strategy. We are also committed to making sure that all of 
our construction and refurbishment projects meet health 
and safety standards. ­Vonovia manages its partnerships with 
external partners and service providers through the Business 
Partner Code, its general terms and conditions of purchasing 
and individual agreements as part of its structured approach 
to supplier management. In this way we ensure compliance 
with all current European procurement standards and regu-
lations. In 2022, we will focus on enhancing our processes 
in light of the requirements of the Duty of Care in Supply 
Chains Act (LkSG), which will be applicable in Germany as 
of January 1, 2023. This process also includes the review of 
existing guidelines, codes and processes, e.g., the aforemen-
tioned Declaration of Respect for Human Rights. An additio-
nal benchmark here will be the applicability of the minimum 
safeguards criteria of the EU Taxonomy. In Sweden, we 
defined environmental criteria that will be binding for all new 
suppliers from 2021 onwards. These criteria will be made 
binding for all other suppliers from 2025 onwards.
The ­Vonovia partner portal plays a vital role in our sustain-
able approach to supplier management. Social and environ-
mental standards are integrated into the processes we use 
to select and approve suppliers (see
 Sustainable Relationships 
With Business Partners). We require our partners to observe and 
apply our product manual in order to promote the procure-
ment of sustainable materials. We also communicate with 
them regularly about ecologically friendly construction 
materials. More about compliance with labor and social 
standards in the supply chain can be found under
 Respect 
for and Promotion of Human Rights. 
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