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Initiatives on Behalf of the Environment
Policy and Approach
JPR and its asset management company, Tokyo Tatemono Realty Investment Management, Inc. (“TRIM”), recognize that operating real estate properties with consideration for the environment and society, and disclosing environmental performance and information about initiatives related to the assets it owns are important in responding to tenants’ needs regarding environmental friendliness, which are increasing every year, and the expectations and wishes of tenants, investors and other stakeholders.
In order to tackle these issues as one of our materialities on climate change, we have set targets for the environmental certification of the entire portfolio, as shown below.
Target 2030: Environmental certification acquisition coverage rate of 90% or more (4-star/"A" rating or higher)
Target 2050: Environmental certification acquisition coverage rate of 100% (4-star/"A" rating or higher)
Our goal for these environmental certifications, which include CASBEE real estate certification, DBJ Green Building certification and BELS certification, are to achieve four stars or higher, or rank A or higher. In the Building-Housing Energy-efficiency Labeling System (BELS) established based on Ministry of Land, Infrastructure, Transport and Tourism guidelines, a rating of two stars or higher means that the building meets energy conservation standards. JPR has set the higher goal of achieving a rating of four stars or higher. JPR aims to create a portfolio of buildings that have better environmental performance.
The Building Energy Conservation Act has been revised. From April 2024, any office building with a total floor area of 2,000㎡ or more is considered to meet energy conservation standards if it has a rating of three stars or higher.
Status of Acquisition of Environmental Certification
The table below displays the percentage of buildings in the entire portfolio that have achieved environmental certification.
| Item | Dec. 2019 | Dec. 2020 | Dec. 2021 | Dec. 2022 | Dec. 2023 |
|---|---|---|---|---|---|
| Percentage of certified buildings (Four stars or higher, or rank A or higher) (Based on total floor area) |
28.3% | 40.2% | 49.3% | 70.5% | 77.4% |
| Percentage of certified buildings (All ranks) (Based on total floor area) |
54.4% | 65.5% | 74.3% | 88.7% | 89.4% |
| Area of certified buildings (Total floor area) |
359,132㎡ | 453,472㎡ | 519,774㎡ | 619,822㎡ | 628,618㎡ |
| Total area of buildings in the portfolio (Total floor area) |
660,110㎡ | 692,365㎡ | 699,123㎡ | 698,650㎡ | 703,018㎡ |
| Buildings that have achieved CASBEE certification | 7 | 16 | 28 | 37 | 42 |
| Buildings that have achieved DBJ Green Building certification | 16 | 14 | 15 | 13 | 14 |
| Buildings that have achieved BELS target | 0 | 1 | 2 | 3 | 4 |
| Total number of buildings that have achieved certification | 23 | 31 | 45 | 53 | 60 |
Status of Environmental Certification based on operating revenue
(million yen)
| Category | 2022 | 2023 | 2024 | 2025 | 2026 | |||||
|---|---|---|---|---|---|---|---|---|---|---|
| Rent revenue-real estate | ||||||||||
| Certification property | 25,312 | 68.2% | 28,183 | 79.2% | ||||||
| Uncertification property | 5,495 | 14.8% | 2,916 | 8.2% | ||||||
| (excluded) Land with leashold interest | 3,604 | 9.7% | 3,603 | 10.1% | ||||||
| Gain on sale of real estate | ||||||||||
| Certification property | 2,685 | 7.2% | ー | ー | ||||||
| Uncertification property | ー | ー | 881 | 2.5% | ||||||
| Total operating revenue | 37,097 | 100.0% | 35,585 | 100.0% | ||||||
Acquisition of DBJ Green Building Certification
The DBJ Green Building Certification is a certification system to select superior real estate that meets the demand of the times by scoring buildings based on the scoring model originally developed by Development Bank of Japan Inc. Its purpose is to promote properties that are environmentally friendly, equipped to mitigate disaster and prevent crime, as well as meet the social requirements surrounding real estate from various stakeholders (“Green Buildings”). The results are evaluated in five ranks.
The website of DBJ Green Building Certification:http://igb.jp/en/index.html
| Property | Certification Level | Acquisition Date |
|---|---|---|
| Tokyo Square Garden | ★★★★★ | Aug. 2023 |
| Ochanomizu Sola City | ★★★★★ | Oct. 2023 |
| Otemachi Financial City North Tower | ★★★★ | Oct. 2021 |
| Olinas Tower | ★★★★ | Feb. 2022 |
| Shinjuku Center Bldg. | ★★★★ | Feb. 2022 |
| Kawasaki Dice Bldg. | ★★★★ | Jun. 2022 |
| JPR Sendagaya Bldg. | ★★★ | Feb. 2022 |
| JPR Omiya Bldg. | ★★★ | Feb. 2022 |
| Rise Arena Bldg. | ★★★ | Feb. 2022 |
| Yume-ooka Office Tower | ★★★ | Feb. 2022 |
| Kanematsu Bldg. | ★★★ | Feb. 2022 |
| BYGS Shinjuku Bldg. | ★★★ | Feb. 2022 |
| Shinagawa Canal Bldg. | ★★★ | Feb. 2022 |
| Oval Court Ohsaki Mark West | ★★★ | Feb. 2022 |
Acquisition of CASBEE for Building Certification
CASBEE, which stands for Comprehensive Assessment System for Built Environment Efficiency, is a system for comprehensively assessing the environmental performance of buildings. Efforts to develop and popularize the system in Japan are being made under the leadership of the Ministry of Land, Infrastructure, Transport and Tourism.
This system comprehensively evaluates a quality of buildings, including indoor comfort and consideration for the landscape, on top of the aspect of environmental consideration, such as energy saving and the use of materials and equipment with a lower environmental burden.
For details of the System, please refer to the website of CASBEE
https://www.ibec.or.jp/CASBEE/english/index.htm
Acquisition of BELS・ZEB certification
BELS is an abbreviation for Building-Housing Energy-efficiency Labeling System. It is a performance labeling system created for the purpose that a third-party organization accurately conducts the evaluation and indication of energy efficiency performance of non-residential buildings in accordance with the Assessment Guidelines on Energy Efficiency Performance of Non-residential Buildings (2013) established by the Ministry of Land, Infrastructure, Transport and Tourism.
A third-party organization evaluates energy efficiency performance and other elements based on various scales. Evaluation results are represented by the five ranks.
Net Zero Energy Building (ZEB) refers to buildings aiming to make the annual balance of the consumed primary energy zero by saving energy and using renewable energy, while realizing a comfortable indoor environment. Buildings which received 5 Stars, the highest rank in BELS, and demonstrate higher energy-saving performance are positioned as ZEBs, and the evaluation is displayed based on the four ranks of ZEB, Nearly ZEB, ZEB Ready and ZEB Oriented.
| Property Name | Certification Level | Acquisition Date |
|---|---|---|
| JPR Kojimachi Bldg. | ★★★ | Dec. 2020 |
| FUNDES Ueno | ★★ | Jun. 2021 |
| JPR Omiya Bldg. | ★★★★★ （ZEB Oriented） |
Sep. 2022 |
| FUNDES Tenjin Nishidori | ★★★★ | Aug. 2023 |
Other awards
Yakuin Business Garden is located in the urban area of Fukuoka City. As the building name indicates, the property has a wide, vacant lot open to the public, where 23 kinds of plants provide a different appearance season by season, including the corridor of zelkova trees that dye the air green. It is a space of greenery full of healing and comfort, where not only the facility users but also many other people feel relaxed. JPR endeavors to promote greenery as an initiative to enhance the asset value as well as to support town creation.
[Won the 10th " Urban Planning Featuring Flowers and Greenery Award" in 2013]
Plants surrounding the building (Yakuin Business Garden)