Act reliably
Our Annual Report
Managing a company well means managing it responsibly – and having management independently monitored. That is why we introduced our corporate governance principles. They are clear rules that guide our actions. They include respect for human rights and responsible interactions with employees, suppliers and tenants.
For us, sustainability, transparency and corporate success are inextricably linked. Integrating sustainability into our strategic and business processes is a key issue, as it contributes directly to the company’s success. With the inclusion of digital work and communication processes in the business world, the structured management of information and data is also growing in significance. This issue is particularly relevant for us as we handle sensitive corporate and personal data. It is extremely important that we keep this data safe.
Trust is the top priority for our customers, the capital market, employees and all other key stakeholders. In order to gain trust and maintain it, we have made reliable and transparent corporate governance the foundation of our business. We adhere to laws, guidelines and regulations and manage our business responsibly and independently in line with the principles of good corporate governance. If we fail to meet the expectations of our stakeholders, this may lead to risks that could have negative impacts on our business (e.g., liability risks or potential administrative fines) and our reputation.
Although the laws in the markets we serve in Germany, Austria and Sweden already offer a secure framework particularly in terms of labor and social standards – such as the Supply Chain Due Diligence Act – human rights aspects are increasingly moving into the spotlight. This applies, for instance, to risks relating to compliance with labor and social standards on construction sites. We are taking it into account by carrying out a comprehensive risk analysis and publishing our first report on the Supply Chain Due Diligence Act.
Our compliance management system (CMS) supports the corporate management in its direction and is intended to prevent employee misconduct and safeguard the company against misconduct.
Strict adherence to compliance rules protects the integrity of employees, customers and business partners, and shields our company from negative influences. This is an indispensable prerequisite for being perceived as a reliable and trustworthy partner.
Our CMS is supported by our whistleblowing hotline – a web-based whistleblowing system. Violations of rules or laws can be reported here online in eight different languages and anonymously if so desired. This whistleblowing system is freely accessible to all employees, suppliers, customers and other stakeholders.
Vonovia’s business model includes the construction, maintenance and refurbishment of homes. We are aware of our social responsibility as a company active in this important sector. Our constant aim is to prevent or minimize the risks associated with our business activities.
We strive for full transparency in our compliance with human rights and all relevant standards along the entire supply chain – from raw material extraction to sales. Our stakeholders, too, increasingly expect this transparency. We jointly implement these requirements in close collaboration with our external partners.
The long-term protection of personal data is particularly important to Vonovia. We therefore strictly adhere to the applicable provisions of data protection law and take the necessary measures to ensure the comprehensive protection of this data. These include a uniform Group-wide rulebook on data protection and privacy, information security and the internal control system, and a cyber security system to protect company-related data.