Environment
Biodiversity
Biodiversity
Information Disclosure Based on TCFD and TNFD Recommendations
Governance
System of Supervision by the Board of Directors of the asset manager / the investment corporations
The matters resolved by and reported to the Sustainability Committee chaired by the Chief Sustainability Officer (CSO) are overseen and supervised by being reported as needed to the Board of Directors, which meets at least once every three months and is chaired by the President of the asset manager, as well as the Board of Directors of the investment corporation, which meets at least twice a month in principle.
The Sustainability Committee
The Sustainability Committee, which held once a quarter in principle, identifies material risks and opportunities related to sustainability including climate change and natural capital, and plays a central role in sustainability activities by resolving policies, strategies, systems, and sustainability goals and monitoring performance.
For details, please refer to the asset manager’s “Sustainability Promotion Structure”.
Risk Management
Organizational Process of Identifying and Evaluating Environment-related Risks, etc.
Dependencies and impacts as well as risks and opportunities on climate change and natural capital are sorted out in consideration of the asset manager’s business activities and then reviewed for the investment corporation, led by the sustainability staff of each division. Dependencies and impacts as well as identified risks and opportunities, along with their degree of impact, are reported to, and discussed and confirmed by the Sustainability Committee.
Process of Managing Natural Capital-related Risks, etc. and Organizational Initiatives
The asset manager led by the person in charge of sustainability issues, holds meetings (hereinafter referred to as "subcommittees") as necessary to discuss and examine in detail sustainability-related issues and promotion methods at the working level, either within the division or in cooperation with other divisions. Through the subcommittees, individual issues are discussed, and information is shared to raise awareness and understanding of the issues among those in charge, and to integrate sustainability considerations into the daily investment and management process.
Matters discussed and considered by the subcommittees are reported to the Sustainability Committee by each division, and the Sustainability Committee monitors that progress.
Moreover, the investment corporation collects and monitors monthly environmental data for properties. To work on initiatives for environmental matters, including metrics and targets and efforts to address climate change, and collect environmental data, we have established an environmental management system and strive to continually strengthen and improve our initiatives by implementing a PDCA cycle.
Integration into Overall Risk Management
The asset manager operates the Risk Management Committee, in which senior management personnel serve as members. The Committee grasps and investigates matters related to major risks and formulates countermeasures and management policies. It checks the risks and opportunities affecting business operations, including climate change, at each division once every three months using a Risk Control Matrix (RCM), and reports to the committee for evaluation and management.
Information Disclosure Based on TNFD Recommendations
Basic Policy
We recognize the critical importance of what ecosystems can provide and are committed to protecting ecosystems and mitigating any potential impacts on biodiversity.
Relationship with Natural Capital
The asset manager recognizes that human life and economic activities are based on natural capital, including biodiversity. The asset manager will continue to examine the relationship between its business activities and natural capital with reference to the TNFD recommendations.
LEAP Approach
The TNFD recommendations favor the LEAP approach as a means of identifying and assessing the relationship between business activities and nature. This process was used to analyze the dependencies and impacts of the asset manager on nature and to select potential priori ty locations.
Dependencies and Impacts
The TNFD recommendations encourage the use of the ENCORE tool to identify dependencies and impacts on natural capital in the sectors in which a asset manager operates. Referring to real estate management as the sector in which it has direct operations, the asset manager considered its dependencies and impacts on natural capital that ought to be considered. In its considerations, the asset manager took account of the status of the relevant actions taken in each fund, in reference to the real estate management sector. After that, it identified dependencies and impacts.
Heat Map of Dependencies and Impacts
- Heat Map of Dependencies and Impacts (created using ENCORE)
ENCORE Partners (Global Canopy, UNEP FI, and UNEP-WCMC) (2024). ENCORE: Exploring Natural Capital Opportunities, Risks and Exposure. [ｙOn-line], [insert month/year of the version downloaded], Cambridge, UK: the ENCORE Partners. Available at: https://encorenature.org.
DOI: https://doi.org/10.34892/dz3x-y059.
In its current review, although the asset manager has analyzed high dependency items as not applicable, it believes that land use in its real estate operations has the potential to have a high impact on species, water, and habitat through the impact factors of use of terrestrial ecosystems and GHG emissions. The asset manager anticipates that these impacts pose a risk of land use change due to climate change, such as the occurrence of fires and floods.
Interface with Nature
At the start of analysis, ecological information was organized for four areas, taking into account the asset holdings of each fund. Based on this assessment, potential priority locations have been selected. In the assessment process, reference is made to external data on interface with nature to identify sensitive locations as potential locations. While each of these areas meets at least one of the criteria for a sensitive location and thus could be a potential location, given the asset status of each fund, the asset manager will continue to consider priority locations.
TNFD priority locations (overlap between sensitive locations and material locations) + five requirements for sensitive locations and descriptions of material locations
- Recommendations of the Taskforce on Nature-related Fina ncial Disclosures (September 2023)
Modified in part from: https://tnfd.global/wp-content/uploads/2023/08/Recommendations-of-the-Taskforce-on-Nature-related-Financial-Disclosures.pdf
This table can be scrolled sideways.
| Fund | Area | Number of properties | Segment |
|---|---|---|---|
| JMF | Omotesando | 13 properties | Urban retail / Mixed-use |
| Narashino | 2 properties | Urban retail / Mixed-use | |
| Fujisawa – Sagami River | 13 properties | Residence | |
| Osaka | 1 property | Urban retail / Mixed-use / Office / Residence |
- Biodiversity Assessment Map (Biodiversity Chart), Ministry of t he Environment
National Land Information Web Mapping System, Environmental Imp act Assessment Database System (EADAS), KBA Map (Conservation International Japan), Ecologically or Biologically Significant Marine Areas Identified by Japan (Ministry of the Environment)
Esri, Maxar, Earthstar Geographics, and the GIS User Community
Initiatives for 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.
Initiatives at Twin 21
At Twin 21, JMF investigates community green space plans and the situation in nearby green spaces before examining its activities for green spaces. Taking into account collaboration with nearby green spaces, JMF has installed birdhouses and birdbaths, and its employees carry out activities in the green spaces.
Twin 21 received ABINC certification.
Main points evaluated in ABINC certification
- The good maintenance of a relatively large green space in an urban area.
- Detailed study of the contribution to biodiversity in the area, and a clear vision of future goals.
- Implementation of water circulation-conscious measures, such as permeable pavement.
- Proactive efforts to promote material recycling on site, such as composting, etc.
- Active employee participation.
- Regional cooperation through local councils.
For details of Environmental Certifications, please see.
Community Engagement
Nara Family: Comprehensive cooperation agreement with Nara City
Round1 Stadium Sakai Chuo Kanjo: Signed agreement with Osaka Prefectural Government for the conservation and restoration of the natural environment.
Greening of rooftops and entrances
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.
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
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.