Our Sustainability Management
Strategic Management of Focus Areas
GRI 2-9, 2-12, 2-13, 2-14, 3-1, 3-2
In 2021, we carried out a materiality analysis to identify key sustainability focus areas for Volkswagen Immobilien (VWI Sustainability Report 2021, p. 10). By doing so, we did not just set strategic priorities. We are also meeting the requirements of the reporting standards set out by the Global Reporting Initiative (GRI) and the CSR Directive Implementation Act (CSR-RUG) in Germany, which apply to the Volkswagen Group. The outcome of the materiality analysis and the associated prioritization of eight sustainability focus areas were confirmed by senior management.
The key sustainability-related initiative associated with our corporate strategy is called “Embedding sustainability at the company.” It aims to embed the sustainability issues which have been identified as material more deeply in the relevant company processes and standards. To enable us to achieve measurable progress, we have created a sustainability road map which defines the objective, target, time frame and KPIs for each focus area. This includes a sustainability road map for attaining climate-neutrality within our portfolio which complies with the specifications contained in the Paris Agreement. Responsibilities, measures and management approaches were also defined for each target.
Aside from the OKR framework, sustainability topics at Volkswagen Immobilien are primarily coordinated and steered by the Sustainability Committee and the Sustainability business unit. The senior management team are permanent members of the Sustainability Committee, which meets quarterly. At these meetings, the members are informed about all sustainability-related issues. As well as discussing report topics and sharing information in an interdisciplinary fashion, the committee’s core responsibilities include defining concrete strategic objectives, measures, action areas and statements pertaining to sustainability. These are then incorporated into the initiative, which forms part of the corporate strategy.
The Head of Sustainability sits on all VWI decision-making bodies. This ensures that all relevant sustainability criteria set out in the VWI sustainability strategy are taken into account in the company’s decision-making.
Integrating the SDGs into the Sustainability Strategy and Sustainability Measures
Like the Volkswagen Group, VWI is committed to the 17 Sustainable Development Goals (SDGs) adopted by the United Nations in connection with the 2030 Agenda. We conducted a two-part analysis in the year under review to link the SDGs as closely as possible with our sustainability strategy. First, we looked at which SDGs VWI has a considerable impact on with its business activities. To do this, VWI assessed opportunities and risks throughout the value chain and allocated them to the SDGs. In step two, we investigated which SDGs VWI is already contributing towards with the focus areas defined in its sustainability strategy, thereby identifying where the two dimensions overlap significantly.
Collating the results of both sub-analyses led us to select the following SDGs as being those where we make the greatest impact and those with the strongest link to the VWI sustainability strategy: SDGs 3, 8, 9, 10, 11, 12, 13, 15, 16.
SDG 3 We create a healthy environment which promotes tenants’ well-being with low-pollution materials, natural light, fresh air and the right temperature. We pay particular attention to the health of our employees and contractors at construction sites and in the supply chain.
SDG 8 Our innovative building concepts limit the use of materials and land, making it easier to decouple economic growth from resource consumption. We ensure that good, safe working conditions are provided and human rights are upheld throughout our supply chain.
SDG 9 We help building users to switch to clean, eco-friendly technologies. We do this by providing a high-performance infrastructure for the efficient use of energy and water at our buildings and by implementing sustainable mobility concepts at the developments and properties.
SDG 10 We do not tolerate discrimination of any kind and are dedicated to respectful cooperation, diversity, tolerance and equal opportunities. We observe these principles in our dealings with our staff, in the way we treat our tenants when we allocate housing, and when we design inclusive, accessible residential districts.
SDG 11 We aim to reduce the environmental impact of our properties and contribute towards the development of sustainable urban spaces. This includes avoiding soil sealing and landscaping our portfolio to boost resilience to the consequences of climate change.
SDG 12 We are strengthening the principle of circularity in our processes to protect natural resources. In doing so, we are placing a particular emphasis on using sortable and recyclable materials for newbuilds and modernization projects and on effectively reducing waste.
SDG 13 Modern technology, innovative building services and optimized processes help to reduce carbon emissions and energy consumption at our properties. We use life cycle assessments to identify key levers for achieving decarbonization. These are embedded in our new BLUE BUILDING 2022 standard.
SDG 15 We are committed to promoting biodiversity by protecting natural flora and fauna. Through targeted plantings, connecting biotopes and water management, we create environmental added value while simultaneously optimizing value and reducing costs at our properties.
SDG 16 Compliance and integrity are our utmost concern in everything we do. We take action against bribery and corruption, and ensure that our corporate governance is transparent and ethical with the aid of our Code of Conduct and a set of requirements for supply chain partners.