Environment

Environmental Charter and Approvals

Establishing an Environmental Charter

Establishing an Environmental Charter

The MC-UBS Group formulated the Environmental Charter, which sets out our environmental principles and action plans.
MCUBS then formally established it in June 2013.

Environmental Charter

At Mitsubishi Corp.-UBS Realty Inc., we consider the Earth itself to be our most important stakeholder and are continuously working toward the realization of a sustainable society through our business activities.
 
  • We will strive to reduce greenhouse gas emissions by continuously implementing new efficiency measures and embracing new technologies.
  • We will promote the sustainable use of natural resources including energy, minerals, food stocks, and water throughout our global business operations.
  • We recognize the critical importance of what ecosystems can provide and are committed to protecting ecosystems and mitigating any potential impacts on biodiversity.
  • We will strive to create and enhance environmental benefits by undertaking conservation activities and reducingour environmental footprint.
  • We will continue to actively engage and work with our various stakeholders openly and transparently and disclose information on the environmental impacts of our business operations in an appropriate and timely manner.
  • We will conduct all of our activities in compliance with environmental laws while adhering to international rules and social standards.
Japan Metropolitan Fund Investment Corporatio

Environmental Approvals and Evaluations for Group Assets

Environmental Approvals and Evaluations for Group Assets

JMF actively engages in sustainability activity, but we also believe in the importance of obtaining objective evaluations and certifications for this activity. In order to meet the demands of investors, tenants and various stakeholders in the global market, JMF has obtained a wide range of certifications ranging from valuating building performance to evaluating entire funds.

Conditions Regarding the Acquisition of Certifications

Regarding performance evaluations on real estate, we have acquired certifications for CASBEE for Real Estate, DBJ Green Building, and BELS. For further details, please see below.
Going forward, we will maintain its policy of improving the ratings of its overall funds under management while increasing its proportion of properties with certifications from external parties.




Building Certified Ratio (As of August 31, 2021)

This table can be scrolled sideways.

Category Certification Number of
Properties
Green Certified
Buildings
Gross Floor
Area
(m2) *
Green Certified
Buildings *
Green Building Certification CASBEE for Real Estate 27 22.31% 2,101,800.34 72.94%
DBJ Green Building 26 21.49%
Energy-saving Certification BELS 6 4.96% 45,879.84 1.59%
*The figure shown above is the floor area of CASBEE and DBJ Green Building combined as these certifications are defined as “ Green Building Certifications”.
Japan Metropolitan Fund Investment Corporatio

Certification for CASBEE for Real Estate

Certification for CASBEE for Real Estate

CASBEE® (Comprehensive Assessment System for Built Environment Efficiency) is an evaluation system that ranks buildings and structures in terms of their environmental performance. In addition to each building's ability to reduce its environmental impact across a variety of areas including energy and resource conservation as well as recycling, this system comprehensively evaluates the environmental performance of each building and structure including its aesthetic appeal.
*CASBEE® is a registered trademark owned by the Institute for Building Environment and Energy Conservation (IBEC) and is used with permission.
CASBEE
Number of Properties Classified by Evaluation Ranking
S: 19 properties (first rating acquired in 2015)
A: 7 properties (first rating acquired in 2008)
B+: 3 properties (first rating acquired in 2018)
Includes properties that meet the CASBEE for Wellness Office

JMF properties have received the certification as below.

S ★★★★★

A ★★★★

B+ ★★★

*At AEON MALL Yamato, AEON MALL Musashi Murayama, AEON MALL Tsurumi Ryokuchi, and AEON MALL Itami, we received certification jointly with our tenant, AEON MALL Co., Ltd.
*At AEON MALL Sapporo Naebo and AEON MALL Sapporo Hassamu, we received certification jointly with our tenant, AEON Hokkaido Co., Ltd.
*At AEON MALL Kobe Kita, we received certification jointly with DREAM Private REIT Inc., which is a quasi-co-owner of the real estate trust beneficiary rights, and our tenant, AEON MALL Co., Ltd.
*At Ario Otori, we received certification jointly with our tenant, Ito-Yokado Co., Ltd.
*At AEON Itabashi Shopping Center, we received certification jointly with our tenant, AEON RETAIL Co., Ltd.
*At AEON Naha Shopping Center, we received certification jointly with our tenant, AEON RYUKYU Co., Ltd.


 

Japan Metropolitan Fund Investment Corporatio

CASBEE for Wellness Office

CASBEE for Wellness Office

CASBEE for Wellness Office is an evaluation system that evaluates the buildingʼs specifications, performance and initiatives supporting the maintenance and enhancement of the building usersʼ health and comfort. In addition to factors directly affecting the health and comfort of people working in the building, factors contributing to improve intellectual productivity and performance related to safety and security are also subject to be evaluated.

B+ ★★★

* JMF-Bldg. Shibuya 03 has received a certification for “CASBEE for Real Estate” and a certification for “CASBEE for Wellness Office”. Thus, it has been certified under “CASBEE for Smart Wellness Office ” which comprehensively evaluates the next generation office model. This is the first case in the J-REIT which a property, G-Square Shibuya Dogenzaka, has received the certification after the system was launched.

Japan Metropolitan Fund Investment Corporatio

DBJ Green Building Certification

DBJ Green Building Certification

Under the DBJ Green Building system, the Development Bank of Japan (DBJ) certifies real estate properties with high environmental and social awareness, based on five evaluation ranks (one star "★" to five stars "★★★★★"), using a comprehensive scoring model developed independently by DBJ.
DBJ Green Building
Number of Properties Classified by Evaluation Ranking
5 stars: 1 property (first rating acquired in 2015)
4 stars: 11 properties (first rating acquired in 2012)
3 stars: 5 properties (first rating acquired in 2014)
2 stars: 3 properties (first rating acquired in 2014)
1 stars: 4 properties (first rating acquired in 2016)

The rankings received by JMF-owned properties are listed below:
 

5 ★★★★★

4 ★★★★

3 ★★★

2 ★★

1 ★

Japan Metropolitan Fund Investment Corporatio

BELS Certification

BELS Certification

BELS certification is provided under a public evaluation system, which evaluates the energy conservation performance of non-residential buildings. In the BELS system, five levels of energy conservation performance are evaluated by a third party based on various criteria, irrespective of whether they are new buildings or existing buildings. BELS certification, which is the first public evaluation system specific to energy conservation performance in Japan, is expected to promote further improvements by providing appropriate information and promoting the energy conservation performance of buildings.
BELS Certification
Number of Properties Classified by Evaluation Ranking
4 stars: 1 property (first rating acquired in 2017)
3 stars: 1 property (first rating acquired in 2016)
2 stars: 4 properties (first rating acquired in 2016)

The following JMF property received certification:

4 ★★★★

3 ★★★

2 ★★

Japan Metropolitan Fund Investment Corporatio

Tokyo Low - Carbon Small and Medium - Sized Model Building

Tokyo Low-Carbon Small and Medium-Sized Model Building

Tokyo Low-Carbon Small and Medium-Sized Model Building is A1 or higher ranked building based on an assessment index for low-carbon buildings (low-carbon building benchmark) announced by the Tokyo Metropolitan Government in May 2012, with an aim to create the real estate market in which low-carbon buildings featuring low CO2 emission are valued.
Number of Properties Classified by Evaluation Ranking
A2 : 1 property (first rating acquired in 2018)
A2-: 1 property (first rating acquired in 2021)
A1+: 1 property (first rating acquired in 2021)
A1 : 2 properties (first rating acquired in 2018)

The following JMF property received certification:

A2

A2-

A1+

A1

Honorable mention in the Fourth (FY 2010) Osaka Sustainable Building Awards

JMF-Bldg. Higobashi 01 received an honorable mention for its environmental consideration in the Fourth (FY 2010) Osaka Sustainable Building Awards.

Creation of sustainable standard office drawing on various environmental consideration/energy saving technologies

Judge’s comment
The property, a medium-scale tenanted office building located in central Osaka, is implemented with various environmental measures. Particularly, its resource-saving environmental effort of reusing pile foundation of an existing building, which is hardly seen in the Kansai region, can be a point of recognition.
Japan Metropolitan Fund Investment Corporatio

Environmental Performance

Environmental Performance

JMF works actively on energy conservation measures that relate to asset management, with the aim of creating a sustainable society through the reduction of environmental impact.
As part of our carbon risk measures, at JMF we collectively manage our energy consumption and CO2 emissions by outsourcing this work to external contractors; this has enabled us to gather highly accurate and transparent data. We then analyze this data as part of our continuing efforts at managing reductions in energy consumption.
 
Details of JMF’s Environmental Performance are listed below:
  Electricity
Electricity
(Mwh)
Fuel
Fuel
(Mwh)
Water
Water
(Thousand m3)
  CO2 emissions
CO2 emissions*2
(Thousand tCO2)
2020 400,765 130,452 2,711 201
2019*1 394,471 117,223 2,621 212
2018*1 399,940 118,587 2,541 223
2017*1 423,783 133,907 2,615 240
2016*1 432,473 126,779 2,691 248
2015*1 413,471 125,639 2,605 252
Aggregation period
2020: March 2020 – February 2021
2019: March 2019 – February 2020 (Former Japan Retail Fund Investment Corporation, JRF)
   January 2019 – December 2019 (Former MCUBS MidCity Investment Corporation, MMI)
2018: March 2018 – February 2019 (JRF), January 2018 – December 2018 (MMI)
2017: March 2017 – February 2018 (JRF), January 2017 – December 2017 (MMI)
2016: March 2016 – February 2017 (JRF), January 2016 – December 2016 (MMI)
2015: March 2015 – February 2016 (JRF), January 2015 – December 2015 (MMI)
*1 Figures on Electricity (Mwh), Fuel (Mwh), Water (thousand m3) and CO2 emissions (thousand tCO2) before 2019 are simply adding up the values ​​of JRF and MMI.
*2 When converting energy consumption into CO2 emissions, we use the calculation methods and emissions factors stipulated by the Act on Promotion of Global Warming Countermeasures. The CO2 emissions listed above are the total value of Scope 1 and Scope 2 emissions; Scope 3 emissions have not been included. Of Scope2 emissions, 9.6t-CO2 is CO2 emissions related to green electricity.
*3 The above “Environmental Performance” was prepared based on the “Environmental Data (detailed)” attached below which has been given limited assurance by a third party organization (Ernst & Yong ShinNihon LLC).
  ・ 2020 WEB Information
  ・ 2020 Independent Assurance Report
  ・ 2019 Environmental Data (detailed) (MMI)
  ・ 2019 Independent Assurance Report (MMI)

Initiatives for Reducing Environmental Impact

JMF is responding to the problem of climate change, which is becoming more serious year by year, by implementing environmentally-friendly and energy-saving measures and making efforts toward more efficient energy use in its properties to give greater consideration to the environment and lessen its environmental impact. Also, to reduce CO2 emissions, which are one of the risk factors for climate change, it has established systems for understanding and managing CO2 emissions in its portfolio as a whole.
JMF participates in J-REIT's first CDP since 2016 and are actively working on it.
Japan Metropolitan Fund Investment Corporatio

CO2Emissions

CO2 Emissions

CO2 Emissions

*1 Figures on CO2 emissions before 2019 are simply adding up the values ​​of JRF and MMI.
*2 Data and emissions per unit is calculated based on the total floor area (after considerations for occupancy status).

■Data collection rate
2020 97.6%
2019 97.9%
2018 93.0%
2017 90.3%
2016 93.6%
2015 89.7%


■Aggregation period
2020: March 2020 – February 2021
2019: March 2019 – February 2020 (JRF), January 2019 – December 2019 (MMI)
2018: March 2018 – February 2019 (JRF), January 2018 – December 2018 (MMI)
2017: March 2017 – February 2018 (JRF), January 2017 – December 2017 (MMI)
2016: March 2016 – February 2017 (JRF), January 2016 – December 2016 (MMI)
2015: March 2015 – February 2016 (JRF), January 2015 – December 2015 (MMI)

Japan Metropolitan Fund Investment Corporatio

Energy

Energy

At JMF, we implement environmentally friendly and energy-saving measures and make efforts toward more efficient energy use at our properties to show greater consideration for the environment and lessen its environmental impact. We collectively manage electrical power, fuel, and water consumption and analyze the accumulated data, which is both accurate and highly transparent to actively manage reduction of energy use.

Electrical power Consumption / Fuel Consumption

Electrical power Consumption
Fuel Consumption
*1 Figures on Electrical power Consumption / Fuel Consumption before 2019 are simply adding up the values ​​of JRF and MMI.
*2 Data and emissions per unit is calculated based on the total floor area (after considerations for occupancy status).
 
■Data collection rate
2020 97.6%
2019 97.9%
2018 93.0%
2017 90.3%
2016 93.6%
2015 89.7%
 
■Aggregation period
2020: March 2020 – February 2021
2019: March 2019 – February 2020 (JRF), January 2019 – December 2019 (MMI)
2018: March 2018 – February 2019 (JRF), January 2018 – December 2018 (MMI)
2017: March 2017 – February 2018 (JRF), January 2017 – December 2017 (MMI)
2016: March 2016 – February 2017 (JRF), January 2016 – December 2016 (MMI)
2015: March 2015 – February 2016 (JRF), January 2015 – December 2015 (MMI)
Japan Metropolitan Fund Investment Corporatio

Examples of Energy Initiatives

Examples of Energy Initiatives

JMF manages more than 1,300 tenants in 128 properties. Out of consideration for the global environment, together with our tenants we proactively take measures to save energy and reduce CO2 to reduce greenhouse gases at the properties we own.
We have made capital investments at some of our facilities, such as by installing LED lighting and solar power systems, and optimizing air conditioning systems. In this way, we can increase the efficiency of our facilities while recovering investment costs from the rent payments of our tenants; our tenants, meanwhile, can reduce their utility costs without any capital outlay. These energy reduction measures therefore result in a win-win situation for both ourselves and our tenants.

Renewable Energy

JMF is promoting the introduction of renewable energy and green power to reduce greenhouse gases.

In cooperation with the neighboring Yokohama City Hall Building, this helps to increase community resilience by energy saving and also avoidance of power supply disruptions during local disasters. These initiatives have been rated highly, and we have received a new energy silver award, the Agency for National Resources and Energy Commissioner’s Award (Community Coexistence Sector) Silver Award.
MARINE & WALK YOKOHAMA

MARINE & WALK YOKOHAMA
Operates the facility with 100% real renewable energy compliant with RE100

RE100

The Certificate of Green Power

LED Lighting

We are working to reduce energy consumption and increase the lifespan of our lighting by replacing existing lighting with LED lighting. When it comes to replacing the lighting, we confirm in advance with our tenants the reductions in electricity consumption we expect to make; in some instances, we have also entered into agreements with our tenants to recover the costs of the investment in lighting, by receiving part of the savings they make on their electricity bills as rent.

Properties with LED lighting installed:
plus numerous other properties

Green Lease

A “green lease” refers to an agreement made via a contract of memorandum between building owners and tenants to cooperate toward reducing environmental impact and making a more environmentally friendly facility through various means, including energy conservation on properties.
Green leases are entered into on a voluntary basis, with both parties agreeing to uphold the terms of the arrangement. For example, MCUBS MidCity has borne the costs of installing LED lighting in its facilities, which allows tenants to enjoy lower energy fees in exchange for paying MCUBS MidCity a fixed green lease payment.

Example of Property

Solar Panels

Solar panels are installed on the roofs of facility buildings to save energy by using renewable sources.

Properties with solar panels installed:
plus numerous other properties

Optimizing Air Conditioning Systems

Replacing existing air conditioning systems with more efficient models enables us to use electricity and gas more effectively, and so not only reduce environmental load but also reduce monthly costs. Some local governments provide subsidies and grants for replacing such systems; we are utilizing this support to replace air conditioning systems where necessary.

Properties with air conditioning systems installed:
plus numerous other properties
Japan Metropolitan Fund Investment Corporatio

Water

Water

JMF strives for sustainable resource use, and we are making active efforts to utilize water resources effectively. We work with our tenants toward the effective use of water resources by utilizing on-site well water pumped from 100 m underground, drawn using automatic water supply apparatus.

Water Use

Water Use

*1 Figures on Water Use before 2019 are simply adding up the values ​​of JRF and MMI.
*2 Data and emissions per unit is calculated based on the total floor area (after considerations for occupancy status).

■Data collection rate
2020 97.5%
2019 97.9%
2018 92.9%
2017 90.3%
2016 93.6%
2015 91.2%



■Aggregation period
2020: March 2020 – February 2021
2019: March 2019 – February 2020 (JRF), January 2019 – December 2019 (MMI)
2018: March 2018 – February 2019 (JRF), January 2018 – December 2018 (MMI)
2017: March 2017 – February 2018 (JRF), January 2017 – December 2017 (MMI)
2016: March 2016 – February 2017 (JRF), January 2016 – December 2016 (MMI)
2015: March 2015 – February 2016 (JRF), January 2015 – December 2015 (MMI)

Japan Metropolitan Fund Investment Corporatio

Examples of Water Initiatives

Examples of Water Initiatives

Efficient Use of Water
At JMF-owned properties, together with our tenants we actively engage in the effective use of water resources.
Using Rainwater to Restore Underground Water
Following renovations, the Oyama Yuen Harvest Walk shopping center now features more than 6,000 square meters of permeable paving, enabling rainwater to be restored underground. This development is part of JMF efforts to “create a positive impact.” For further details, please click here.
 
Japan Metropolitan Fund Investment Corporatio

Waste

Waste

JMF is engaged in efforts to minimize the amount of waste produced by its properties, and to monitor and appropriately manage the amount of waste generated.
JMF periodically checks compost, waste quantity monitoring, recycling, waste separation management and waste treatment at office properties with multiple tenants that it directly manages in order to use resources effectively and handle hazardous waste properly.

Waste Amount

Waste Amount

*1 Figures on Waste Amount before 2019 are simply adding up the values ​​of JRF and MMI.
*2 Data and emissions per unit is calculated based on the total floor area (after considerations for occupancy status).

■Data collection rate
2020 78.3%
2019 80.8%
2018 86.6%
2017 64.8%
2016 89.8%
2015 99.2%



■Aggregation period
2020: March 2020 – February 2021
2019: March 2019 – February 2020 (JRF), January 2019 – December 2019 (MMI)
2018: March 2018 – February 2019 (JRF), January 2018 – December 2018 (MMI)
2017: March 2017 – February 2018 (JRF), January 2017 – December 2017 (MMI)
2016: March 2016 – February 2017 (JRF), January 2016 – December 2016 (MMI)
2015: March 2015 – February 2016 (JRF), January 2015 – December 2015 (MMI)

At Osaka YM Bldg., we monitor the amount of waste generated. At Kyoto Family, we have set up waste measuring equipment in an effort to reduce waste and manage it appropriately.
JMF-Bldg. Osaka Fukushima 01
JMF-Bldg. Osaka Fukushima 01
Certificate of Appreciation from Osaka City
Kyoto Family
Kyoto Family
Waste measuring equipment
Japan Metropolitan Fund Investment Corporatio

Biodiversity

Biodiversity

JMF recognizes the critical importance of what ecosystems can provide, and we are committed to protecting ecosystems and mitigating any potential impacts on biodiversity.
In addition, to provide peace of mind to our customers, we are actively adding greenery to our facilities and creating parks and other communal spaces.

 

Examples of Biodiversity Initiatives

Greening of Facilities JMF

In addition to energy savings, the greening of facilities creates pleasant spaces for customers and allows them to relax and enjoy the colors and fragrances of the natural surroundings.

Greening of main entrances and wall surfaces of parking lots

La Porte Aoyama
La Porte Aoyama

The greening of main entrances and wall surfaces of parking lots mitigates outdoor temperature increases by means of transpiration by plants and also provides relaxation and comfort through its visual impact, in addition to energy savings and the suppression of temperature increases due to solar radiation.

Greening of rooftops and entrances

Nara Family
Nara Family

The greening of rooftops and entrances and the bedding of various flowers and plants throughout the year creates a visually appealing environment for customers. JMF can also expect to benefit from such greening as it encourages shopping by customers who come to various events that are held in open spaces on a regular basis.

Oyama Yuen Harvest Walk
Oyama Yuen Harvest Walk

JMF strive to put a green spaces environment in place in our properties and increase the kinds of plants and green spaces, while including local trees, etc. when planting.

Protection of Native Species

JMF-Bldg. Akasaka 01
JMF-Bldg. Akasaka 01

When planting at our properties, JMF makes sure to transplant any native plants that were replaced to new areas and promote the greening of our properties with consideration given to biodiversity.

Japan Metropolitan Fund Investment Corporatio

Pollution Control

Pollution Prevention

JMF is working to maintain the safety of its buildings by conducting building and earthquake risk assessments at the time of acquisition as well as collecting engineering reports on a regular basis.

Due diligence

Recognizing that hazardous substances related to soil contamination and buildings (PCB, asbestos, etc.) are one of the risk factors in real estate transactions. Adequate and reasonable measures are taken in light of socially accepted ideas and trustee obligations, and legal regulations, complaints, and other risk management are implemented in relation to hazardous substances related to soil contamination and buildings.
  1. To accurately calculate the risk for the judgment materials for the acquisition of real estate
  2. Minimize risk in acquiring real estate
  3. Compliance with laws and regulations regarding soil contamination, etc. after acquisition of real estate (soil contamination countermeasures laws)
Japan Metropolitan Fund Investment Corporatio

Assessments When Acquiring Real Estate Properties

Assessments When Acquiring Real Estate Properties

When acquiring real estate properties, JMF takes various environmental factors into consideration before making investment decisions: property inspections, land history investigations, and other related research on environmental risk factors.
During soil and environmental investigations, third-party experts perform environmental pollution investigations. Prior to executing any purchase agreement, JMF will have experts conduct a soil and environmental contamination survey to assist it in assessing a property’s environmental risks. JMF will use the pre-investment assessment workflow chart to determine whether the investment would be appropriate.
Concerning soil contamination, its property acquisition manual stipulates that investment targets shall be, in principle, properties “that are very unlikely to have soil contamination or that cannot eliminate the possibility of having soil contamination but are very unlikely to carry environmental damage risk.”
 

Pre-Investment Assessment Workflow

Pre-Investment Assessment Workflow
*1 If we are unable to determine solely from a review of historical records that there is no risk of soil contamination or that no other environmental contamination exists (for example, a manufacturing facility that utilized toxic or other hazardous substances in the past), we will conduct interviews with the seller.
*2 If we are unable to determine from interviews with the seller that there is no risk of soil or other environmental contamination, we will conduct a soil and groundwater contamination survey.
*3 If a contamination concern exists, but the necessary remediation would be technically or economically infeasible (for example, remediation is extremely difficult due to structures existing above the contaminated area), we will recommend a price adjustment.
*4 If, after discussions with the seller, remediation is deemed technically and economically feasible, we will conduct site remediation or require the seller to do so.
Japan Metropolitan Fund Investment Corporatio

Building Safety

Building Safety

JMF is working to maintain the safety of its buildings by conducting building and earthquake risk assessments at the time of acquisition as well as collecting engineering reports on a regular basis.

Seismic Reinforcements

Bic Camera Tachikawa
Bic Camera Tachikawa

JMF conducts a building and earthquake risk assessment at the time of property acquisition, and calculates earthquake risk in held properties whenever standards are revised. When necessary, secondary assessments are performed as well. When results of those assessments conclude that earthquake-resistant reinforcement construction is required, we make environmentally conscious choices that will provide the necessary seismic retrofitting while minimizing waste. At the same time, we also work to reduce CO2 emissions and energy consumption in the updated facility.

Measuring air environment

Asbestos is a naturally occurring mineral fiber sometimes called “sekimen” or “ishiwata,” and breathing it is highly likely to cause health hazards, thus implementation of some measures is required. MCUBS MidCity measures the air environment once a year to confirm dispersal status of asbestos and to ensure safety of buildings.

Example of properties
Japan Metropolitan Fund Investment Corporatio