EQS-News

Vonovia: SBTi confirms climate targets align with 1.5-degree target of Paris Climate Agreement

EQS-News: Vonovia SE / Key word(s): Sustainability/Rating Vonovia: SBTi confirms climate targets align with 1.5-degree target of Paris Climate Agreement 18.04.2024 / 13:26 CET/CEST The issuer is solely responsible for the content of this announcement. Vonovia: SBTi confirms climate targets align with 1.5-degree target of Paris Climate Agreement

 

• Vonovia is one of six companies in Germany's property sector to be validated by the Science Based Targets initiative (SBTi). 
• According to the CDP, Vonovia is recognised as one of the world’s leading companies in climate protection measures and has been awarded an A- rating for best practices. 
• The financial market is increasingly calling for effective strategies to meet climate targets.

 

Bochum, 18 April 2024 - Vonovia, Europe’s leading housing company, has established a range of climate targets that are supported by science-based methodologies. Furthermore, Vonovia SE’s climate path aligns with the 1.5-degree target of the Paris Climate Agreement. This conclusion was reached by the Science Based Targets initiative (SBTi) after a comprehensive assessment of the company’s near-term climate targets for 2030. The CDP also awarded Vonovia an A- (Leadership) in its climate change rating, thus confirming the company’s position as a leading global climate strategist and a benchmark setter in best practices.

“We are delighted that the SBTi has validated our climate targets and therefore affirmed our dedicated efforts in climate protection. Science-based climate targets are of vital importance to the financial market, offering reliability, reducing financing costs and fostering valuable innovation,” says CFO Philip Grosse, highlighting the significance of the A- rating and the validation by the SBTi.

Specifically, Vonovia SE has pledged to reduce its absolute Scope 1 and 2 greenhouse gas emissions by 42% by 2030 compared to the base year of 2021. Additionally, by 2030, Vonovia aims to reduce its absolute Scope 3 greenhouse gas emissions in the categories “Fuel and Energy-Related Activities”, “Use of Products Sold” and “Downstream Leased Assets” by 25% compared to 2021.