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ESG Initiatives

ESG Report

  • Policy for Initiatives
  • Examples of Initiatives
  • Environmental Certification and Evaluation
  • Governance Initiatives

Basic Approach to Environmental Consideration

NBFM stipulates the following in its "ESG Policy"

・Promoting energy efficiency and reduction of CO2 emissions

By promoting efficient use of energy in real property investment and management activities and pursuing introduction of energy-saving facilities etc., NBFM endeavors to reduce CO2 emissions through energy saving.

・Preserving water environment and promoting resource saving and waste reduction

NBFM aims to preserve the water environment by initiatives for saving water and introduction of water-saving devices. NBFM also makes an effort to promote 3R (reduce, reuse and recycle) for resource saving and waste reduction.

Environmental Targets

Given the basic approach as mentioned above, NBF establishes annual targets for the following main environmental indicators, endeavoring to monitor and manage them.

Indicators (unit) Target (fiscal 2019)
Annual total energy consumption intensity Thousand kWh/㎡ 1% reduction from fiscal 2018
CO2 emissions output rate from energy consumption t-CO2/㎡ 1% reduction from fiscal 2018

Environment Management System / PDCA Cycle

NBFM established its own environment management system and implements PDCA cycle every year in order to manage the environmental load of its real estate portfolio such as energy consumption, CO2 emissions, water consumption, waste generation, etc. and achieve its targets.

Environmental Initiatives through Real Estate Investment

Understanding and Reducing Environmental Risks in Investment Decisions and Monitoring

Regarding due diligence for new investments, NBF obtains an understanding of environmental and social risks by utilizing external experts and uses this information in its investment decisions. Periodic monitoring of environmental and social risks is conducted for existing properties under management as well and initiatives that provide opportunities for reducing risks and increasing property value are carried out, e.g., expert building assessments such as "Energy Efficiency Walkthroughs".

Co-Existence with the Mitsui Fudosan Group in Redevelopments

The environmental load and environmental risks of the portfolio are reduced through investing in properties with excellent environmental performance that were redeveloped by the Mitsui Fudosan Group under the co-existence model with the Mitsui Fudosan Group.

Improvement of Environmental Performance through Building/Facility Renovations/Retrofits

NBF advances initiatives for its properties under management such HVAC retrofit work, switching to LED lighting and water facility improvements, thereby improving energy and water efficiencies of its portfolio properties.

Furthermore, measures such as introduction of BEMS and update of BAS are carried out to efficiently manage entire buildings and reduce the environmental load.

[Case example]

Promoting LED lighting

For the purpose of reduction of CO2, improvement in asset value by green building initiatives and meeting tenant’s needs, promotion of LED lighting (tenant areas and common areas) is being carried out.

Introduction of Renewable Energy

NBF promotes the reduction of CO2 through the utilization of renewable energy in solar generation at some of the office buildings owned by NBF such as NBF Osaki Bldg.

Reuse and Recycle of Water

Some of the office buildings owned by NBF are equipped with facilities for reusing rainwater and greywater, as NBF endeavors to reduce the consumption of tap water.

Environmental Initiatives in Collaboration with Tenants

NBF is advancing collaborative initiatives with tenant companies to reduce the environmental load of office buildings.

Holding of Sustainability Events for Tenants and Distributing Sustainability Guides

Through activities such as distributing sustainability guides to tenants to promote energy conservation activities within buildings and holding "water sprinkling events" in collaboration with tenants which result in heat island countermeasures and energy conservation, NBF conducts initiatives to increase the environmental awareness of tenant companies.

Introduction of Green Lease

A green lease is an initiative in which both building owner and tenant promote environmental consideration through a building lease agreement.

NBF has concluded green lease agreements concerning retrofits for the following properties upon obtaining understanding of tenant companies, switching over the lighting of areas exclusively occupied by tenant to LED and such.

Environmental Initiatives in Collaboration with Business Partners

Collaboration with NBF Office Management

NBF Office Management Co., Ltd. (hereinafter "NBFOM") is a property management company of the Mitsui Fudosan Group which exclusively manages office buildings owned by NBF. NBF utilizes the expert abilities of NBFOM to maintain and increase the competitiveness, occupancy rate and rent level of its existing properties under management while effectively advancing initiatives of environmental consideration. In the joint meetings with NBFOM (once every two months), discussions are held regarding the sharing of information and initiatives concerning the various energy saving and environmental issues, as to improve accuracy of information.

Utilization of Outside Consultants

NBF utilizes the support of Nikken Sekkei Construction Management, Inc. as an expert consultant for suggestions for the portfolio’s energy management and measures that contribute to increasing environmental performance.

NBF’s Environmental Performance

Energy

Item 2017 2018
Total energy consumption (thousand kWh) 449,072 454,302
Fuel consumption (thousand kWh) 19,007 18,219
Electricity consumption (thousand kWh) 394,318 399,121
Other heat consumption (thousand kWh) 35,747 36,962
Renewable energy production (kWh) 27 27
Energy consumption intensity (kWh/㎡) 150.9 148.1

Greenhouse Gasses

Item 2017 2018
Total CO2 emissions (t-CO2) 165,670 165,398
Scope 1 emissions (t-CO2) 8,218 7,741
Scope 2 emissions (t-CO2) 157,452 157,657
CO2 emissions intensity (t-CO2/㎡) 0.068 0.067

Water Consumption

Item 2017 2018
Tap water consumption (㎡) 1,596,356 1,669,940
Greywater and rainwater consumption (㎡) 278,547 284,583
Water consumption intensity (㎥/㎡) 0.6 0.6

Waste

Item 2017 2018
Total weight of general waste (t) 11,111 10,510
Ratio by method of waste disposal (% of weight)
・Land-filling 5.2 4.8
・Incineration 27.7 26.8
・Recycling rate 66.5 67.4

Notes on the Above Performance

  • Results are total actual figures for both the common areas and tenant areas of office buildings managed by NBF.
  • Reporting boundaries regarding the above data include all NBF's properties (total floor area coverage: 100%) as of June 30th of each fiscal year. However, a few small areas in the buildings where performance data is not available, i.e. residential area, are excluded.
  • Though the scope3 emissions from NBF are not reported above, the emissions from energy consumption by tenants are included in the scope1 and scope2.
  • Each of the intensity figures are calculated upon adjustment with the ownership period and occupancy rate of each property and outdoor temperatures (only for energy and CO2 emissions)
  • The above energy data, greenhouse gas data and water consumption data have been reviewed by Nikken Sekkei Construction Management, Inc. for accuracy.

Initiatives for Green Building Certification

Green building certifications are granted by third parties regarding initiatives for the reduction of environmental load of buildings, improvement of comfort of users, etc. to assure high performance.

In an aim to increase the credibility and objectivity of its efforts to reduce environmental load as well as increase the value of its buildings in the mid-to-long-term, NBF endeavors to utilize green building certifications from third parties.

Policy for Acquiring Green Building Certification

NBF will endeavor to acquire green building certifications for existing properties under management on an ongoing basis for the purpose of reducing the environmental risks of its portfolio and increasing asset value in the mid-to-long-term.

CASBEE Certification

"CASBEE (Comprehensive Assessment System for Built Environment Efficiency)" is a system to evaluate environmental performance of buildings, operated by the CASBEE Research Committee, established in April 2001 as an industrial/academic/government cooperation project under the support of the Housing Bureau of the Ministry of Land, Infrastructure, Transport and Tourism. The system comprehensively evaluates the quality of buildings, including but not limited to environmental considerations such as using materials and equipment which are energy saving or have a lower environmental impact, internal amenities and also giving consideration to views.

Property with CASBEE Certification

■ Gate City Ohsaki

Location Shinagawa-ku, Tokyo Ranking CASBEE for Existing Building S
Site Area 42,509.31㎡ (total)
Floor Area of Building 287,349.75㎡ (total)
Structure B4/24F
Completion January 6, 1999

Details of Properties

Tokyo Metropolitan Top-Level-Facility Certification

The “Top-Level-Facility (Specified High Quality Commercial Facility with Measures against Global Warming)” is a scheme to proportionally mitigate the required greenhouse gas emission reduction ratio of the subject facility, in accordance with the level of measures taken against global warming, if such building is approved by the Tokyo Governor as meeting “certain standards set forth by the Governor” as an “office building promoting an excellent level of measures against global warming (Specified High Quality Commercial Facility with Measures against Global Warming).”

Properties with Tokyo Metropolitan Top-Level-Facility Certification

■ Panasonic Tokyo Shiodome Bldg.

Location Minato-ku, Tokyo Category Top-Level Facility
Site Area 19,706㎡ (provisional allotment)
Floor Area of Building 263,035.06㎡ (total)
Structure B4/43F
Completion January 9, 2003

Details of Properties

■ Gate City Ohsaki

Location Shinagawa-ku, Tokyo Category Semi-Top-Level Facility
Site Area 42,509.31㎡ (total)
Floor Area of Building 287,349.75㎡ (total)
Structure B4/24F
Completion January 6, 1999

Details of Properties

DBJ Green Building Certification

“DBJ Green Building Certification” is a certification system established in April 2011 by the Development Bank of Japan Inc. to support buildings with high environmental and social awareness (a “Green Building”).

Based on its comprehensive evaluation system, which includes not only an environmental performance but also a social one (owner response to social needs of the diverse stakeholders of the properties), DBJ identifies and certifies “Green Building,” which are essential in today’s real estate market.Evaluation results are expressed in five-level ratings.

Scoring of DBJ Green Building Certification

Please click here for details of DBJ Green Building Certification

Summary of the DBJ Green Building ceritified properties in NBF’s portfolio (as of December 31,2019)

As of December 31, 2017 As of December 31, 2018 As of December 31, 2019
Number of Certified properties
(Note1)
7 24 38
Total floor area of certified properties
(Note2)
253,136㎡ 850,895㎡ 1,158,809㎡
Proportion of certified properties to whole portfolio
(based on number of properties)
9.7% 33.3% 53.5%
Proportion of certified properties to whole portfolio
(based on floor area)
(Note2)
14.2% 51.3% 69.5%

Note1 All certified properties are awarded 'Three Stars' rating or above under the certification scheme.
Note2 Calculated based on the floor area multiplled by ownership ratio of the property or on the floor area of exclusively owned area.