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  3. Basic Policy and Management Structure of ESG (Environmental, Social and Governance) Issues

Commitment to GRESB

■GRESB Real Estate Ratings

In the GRESB Real Estate Assessment conducted in 2018, JRE has received the “Green Star” designation which is awarded to real estate companies that demonstrate excellent management system and performance implementation on ESG. It also has received 5 Stars, the highest evaluation for the “GRESB Rating (five levels)” which is a relative assessment based on the total score. 

GRESB評価

In addition, JRE has received an “A”, the highest, in the five-level GRESB Public Disclosure, which evaluates the level of ESG disclosure.

  • <Points highly evaluated>
  • ・Information disclosure regarding sustainability on our website
  • ・Continuous efforts for energy conservation
  • ・The first J-REIT obtaining third-party assurance (by Ernst & Young ShinNihon LLC) on energy consumption, greenhouse gas emissions and water usage data
  • ・Increase the number of properties with environmental certifications, such as DBJ Green Building certifications
  • ・Enhancement of a cooperative relationship with tenants
      (e.g., promoting green lease programme and conducting tenant satisfaction surveys)

■Becoming a GRESB Member

To integrate ESG factors into investment management, Japan Real Estate Asset Management (JRE-AM) became a GRESB Real Estate Company & Fund Manager Member as the first Japanese real estate and asset management company. Furthermore, JRE-AM acts as a member of GRESB Asian Benchmark Committee and contributes to the discussion towards the future development of GRESB.
As a Member of this international initiative, JRE-AM will work for greater sustainability by networking and sharing information with companies that are advanced in terms of ESG as well as by showcasing Japanese practices to the global community.

■What is GRESB?

GRESB (Global Real Estate Sustainability Benchmark) was established in 2009 by a group of European pension funds. It is an annual benchmark evaluation to assess the environment, society and governance (ESG) performance of the real estate sector. Major European, American and Asian institutional investors utilize this benchmark in their investment decision-making processes. GRESB Real Estate Assessment is unique in evaluating not the individual property itself, but the environment-friendliness and sustainability approach of each real estate company and REIT.

For details on GRESB, please click here (CSR Design Green Investment Advisory Co., Ltd.).
For GRESB website, please click here.

Participation in the CDP’s Climate Change Program

■CDP Score

JRE has received the “B” designation in the 2018 Carbon Disclosure Project (“CDP”) Climate Change Program.

CDP’s Climate Change Program

■What is CDP?

CDP is an international NPO which works to measure, disclose, manage and share important environmental information on entities such as companies and cities. Since 2003, the organization has worked on behalf of great number of institutional investors to collect and subsequently analyze information on business risks and opportunities emerging due to greenhouse gas emissions and climate change. Results are published annually. In 2018, the CDP conducted the survey on behalf of more than 650 institutional investors representing more than 87 trillion U.S. dollars in managed assets and approximately 7,000 companies globally including approximately 300 companies in Japan have responded. The rating system is a 8-rank scale (A, A-, B, B-, C, C-, D, D-). JRE participates in CDP Climate Change Program since 2018.

For more details on the assessment, please refer to “Our work” in CDP’s web site.
https://www.cdp.net/en

Sustainability Certification

JRE will continue to acquire environmental certifications and ratings such as green building certifications. We have set the floor area target of obtaining DBJ Green Building certifications for 50% or more of our properties, and will also continuously work to acquire other environmental certifications and ratings.

■Obtaining DBJ Green Building certification

The DBJ Green Building certification was established by the Development Bank of Japan with the aim of encouraging real estate project activities to pursue environmental and social contributions, instead of focusing solely on economic performance. Green Building-certified properties are selected based on a comprehensive evaluation scheme for multiple criteria including tenant amenities, involvement in local community, and risk management, in addition to the environmental performance of the building. Under this program, a number of properties held by JRE have been highly rated, including Harumi Front, which received the highest Five Stars rank, representing the first J-REIT property that has ever been honored with this evaluation.

Please click here for more information about DBJ Green Building authentication.

■Five criteria of DBJ Green Building certification

Properties with the best class environmental and social awareness Properties with exceptionally high environmental and social awareness Properties with excellent environmental and social awareness Properties with high environmental and social awareness Properties with satisfactory environmental and social awareness
five stars four stars three stars two stars one star

■Properties with DBJ Green Building Certification

Properties with the best class environmental and social awareness
Properties with the best class environmental and social awareness
Properties with exceptionally high environmental and social awareness
Properties with exceptionally high environmental and social awareness
Properties with exceptionally high environmental and social awareness
Properties with excellent environmental and social awareness
Properties with excellent environmental and social awareness
Properties with high environmental and social awareness
Properties with high environmental and social awareness

DBJ Green Building認証取得物件数・取得率

■Acquisition of BELS Certification

BELS (Building-Housing Energy-efficiency Labeling System)certification is a public evaluation system established based on the Building Energy Efficiency Act, which evaluates the energy conservation performance of buildings. Third parties evaluate primary energy consumption based on the building energy efficiency standards provided by the Japanese government. Evaluation result is represented by a number of stars (from one star "★" to five stars "★★★★★") on the basis of the Building Energy Index (BEI) value.
Please click here for more information about BELS Certification. (only available in Japanese)

■Properties with BELS Certification

  • Asset Managerジャパンリアルエステイト JRea

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