Gebäude mit bepflanzten Terrassen, umgeben von Bäumen, in einer Stadt.

Adapting to Climate Change

The impacts of climate change are already tangible. In addition to our long-term targets for reducing greenhouse-gas-related emissions, adapting to the consequences of climate change is becoming increasingly important. Our aim is to maintain the quality of living for our tenants even under changing climatic conditions and to reduce the risk of damage to buildings and outdoor spaces.

Find out more about how we systematically identify climate risks and which measures we implement in our neighbourhoods and portfolios to respond to changing climatic conditions.

Management Approach

Vonovia systematically analyses relevant climate-related hazards, guided by the requirements of the EU taxonomy and other widely recognised technical frameworks. Using an IT tool, we model selected climate scenarios and assess their potential impacts on our building portfolio. In doing so, we take into account property-specific and neighbourhood-related characteristics such as sun protection, the share of green spaces and the degree of land sealing.

When assessing climate-related physical risks, we consider the impacts on the Group’s entire building portfolio (Germany, Austria, Sweden) under various climate scenarios up to the year 2045. On this basis, we identify climate adaptation measures at neighbourhood level and implement them in particular as part of neighbourhood development projects. Our aim is to factor in potential negative consequences of climate change – such as rising temperatures, changing precipitation patterns or more frequent extreme weather events – at an early stage and to safeguard the quality of life in our neighbourhoods over the long term. At the same time, these measures help to preserve the value and future viability of our portfolio.

Climate change adaptation aspects are also embedded in our planning guidelines for outdoor areas. These include specific modules to mitigate heat effects, improve water drainage during heavy rainfall and increase the resilience of our neighbourhoods to extreme weather events. Through close cooperation with local stakeholders, authorities and industry partners, we continuously gain new insights, share experiences and develop joint solutions to adapt to changing climatic conditions.

Deutschlandkarte zeigt Farbverlauf (2,26 bis 2,91) von West nach Ost

Analysis and Assessment of Physical Climate Risks

Since 2022, Vonovia has been using the climate risk tool (CRT) to systematically identify and assess elevant climate risks based on available data. We have identified six key climate risks that are relevant to our business model and the regions in which we operate: heat, drought, increased precipitation, wind and storms, snow load, and flooding.

Where available, projections for each of these climate-related hazards are shown in the CRT. These projections illustrate how the hazards change under various climate scenarios for the years 2030, 2045 and 2085. We consider the scenarios recommended by the International Panel on Climate Change (IPCC): RCP2.6, RCP4.5 and RCP 8.5. These scenarios encompass a wide range of potential future developments, from scenarios aimed at limiting global warming to around 1.5 degrees Celsius to extreme cases where the planet could warm by more than 4 degrees Celsius. The specific characteristics of climate-related hazards in each scenario indicate the degree of exposure for specific buildings or neighborhoods to climate change. In assessing overall risk, we also consider the condition of the building and various features such as building type, existing sun protection, vegetation, or the extent of surface sealing. This approach provides us with an individual "vulnerability profile". The combination of exposure and vulnerability determines the overall risk related to the specific climate-related hazard under examination. For more details on our climate risk measures, please refer to our latest CDP report.

Measures

Through various measures, we reduce the impacts of climate change on buildings and residential environments and increase the resilience of our neighbourhoods. These include measures on the buildings themselves, such as improved sun protection through blinds and shutters, the installation of modern windows with lower heat transfer and the creation of green roofs, as well as measures in the surrounding environment, such as shading provided by trees and shrubs, the removal of sealed surfaces from parking areas or the creation of infiltration options. When planting new trees, we make sure to use species that are better adapted to changing climatic conditions and can grow in a stable manner over the long term under local conditions.