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Environmental Basic Policy

Sekisui House, Ltd., the sponsor of the Investment Corporation and parent company of its Asset Management Company, became the first company in the industry to earn recognition as an “Eco-First Company” from the Minister of the Environment.

The Investment Corporation and its Asset Management Company, in recognition of its responsibility to contribute to the “realization of a sustainable society” in accordance with the “Sustainability Vision” of Sekisui House, Ltd., conduct real estate investment management with due consideration given to “the environment, society and governance”;, with the objective of realizing one of the Investment Corporation’s basic principles: “Provide high-quality residences through the J-REIT scheme.”

Specifically, the Asset Management Company is conscious of its societal responsibilities, and as such has established sustainability policy and objectives which it has implemented and maintains compliance with across the breadth of its operations.

Furthermore, a Sustainability Committee has been established, and regularly monitors compliance and evaluates the effect of measures implemented.

Sustainability Policy and Objectives

1. Compliance with Environment-related Laws and Regulations and Rules

In addition to performing in-house training for the purpose of enhancing knowledge with regard to environment-related laws and regulations and rules, we conduct real estate investment and management while maintaining compliance with environment-related laws and regulations and rules toward the realization of a sustainable society.

2. Energy Conservation Measures

We conduct measurement and management of energy consumption levels of properties owned by the Investment Corporation, and proactively promote activities toward the conservation of energy. Specifically, we are proceeding with the phased introduction of LED lighting at properties owned by the Investment Corporation with the goal of reducing electricity consumption and greenhouse gas emissions.

3. Resource Depletion Countermeasures

Through the effective use of limited resources and energy conservation measures, we proactively undertake measures against the depletion of resources. Specifically, we are proceeding with the phased introduction of water-saving equipment featuring water-saving pieces and showers with the goal of reducing water consumption.

4. Biodiversity Activities

In accordance with the Gohon no ki”(Five Trees) project promoted by Sekisui House, Ltd., we conduct maintenance and management of planting, selecting tree species while considering vegetation existing within each region.

5. Information Disclosure

While regularly monitoring environmental activities, we disclose information concerning sustainability performance at our website. Furthermore, we will continue our efforts to acquire recognition from outside agencies, such as the DBJ Green Building Certification.

*For details concerning DBJ Green Building Certification, etc., please refer to “Examples of Environmental Certification, etc. from External Agencies.”

6. Contributing to regions in which we own properties

While promoting the establishment of facilities to enable tenants to continue living safely and securely in the event of a disaster, by opening our facilities to neighborhood residents when a disaster occurs, we are contributing to areas in which we own properties.

CSR and Environmental Activity Case Studies

In accordance with environmental basic policy and sustainability policy, the Asset Management Company has mainly implemented the following measures at properties owned by the Investment Corporation.

[Transition to LED Light Fixtures]

In an attempt to reduce energy consumption and greenhouse gas emissions in common areas, we are proceeding with the phased replacement of existing light fixtures with LED light fixtures in common areas.

Transition to LED Light Fixtures
Phased introduction began in September 2014
arrowIntroduction completed at 38 properties

(as of the end of September 2017)

  • Total approx. 1,189,098kwh annual reduction in electricity usage forecasted
  • Total approx. 610t-CO2 annual reduction in greenhouse gas (CO2) emissions forecasted
*Calculations made by Asset Management Company based on materials provided by vendor entrusted with light fixture replacement
[Transition to energy-saving air conditioning]

In an attempt to reduce energy consumption and greenhouse gas emissions in exclusively owned areas, we are proceeding with the replacement of existing air conditioner units with units rated four stars by the Ministry of Economy, Trade & Industry’s Agency for Natural Resources and Energy (energy efficiency standard achievement of greater than 114% and less than 121%) as necessary.

Transition to energy-saving air conditioning
Introduction began on an as-needed basis in September 2014
arrowIntroduction completed at 677 locations

(as of the end of September 2017)

Comparison of air conditioning units with “two stars” energy efficiency and those with “four stars” energy efficiency

  • Total approx. 150,971kwh annual reduction in electricity usage forecasted
  • Total approx. 71t-CO2 annual reduction in greenhouse gas (CO2) emissions forecasted
*Calculations made by Asset Management Company based on materials, etc. released by the Ministry of Economy, Trade & Industry's Agency for Natural Resources and Energy.
[Installation of water-saving equipment (flow control valves)]

In an attempt to counter the depletion of resources through a reduction in water usage, we are proceeding with the phased installation of flow control valves (water-saving equipment) in common areas.

Installation of water-saving equipment
Phased introduction began in March 2015
arrowIntroduction completed at 168 locations

(as of the end of September 2017)

  • Through the installation of flow control valves, which while not affecting water pressure can lead to a reduction in water usage, a single flow control valve is estimate to result in a reduction in water usage of approx. 30%.
* Calculations made by Asset Management Company based on materials provided by vendor entrusted with flow control valve installation

In addition to the above, we are properly conducting replacement works of bathroom water faucets, shower heads, and kitchen water faucets, etc. in exclusive areas, to water-saving equipment which has an expectation of saving 20 to 30% more water when compared to previous models.

[Installation of disaster relief vending machines]

In an attempt to introduce facilities that give safety and security to residents in times of disasters and promote regional contribution of the owned properties, we are proceeding with the phased installation of disaster relief vending machines.

Installation of water-saving equipment
Phased introduction began in September 2015
arrowIntroduction completed at 13 locations

(as of the end of September 2017)

  • Installed vending machines that normally operate as regular vending machines where drinks can be purchased but that enable anybody to easily take out drinks for free at times of disasters and such.
[Utilization of renewable energy (solar power generation)]

We manage environmentally-friendly residences capable of supplying power at common areas using photovoltaic power generation panels, and in the event of disaster using emergency power generation facilities with the intention of implementing energy saving as well as disaster prevention.

■ Installation of solar power generation panels (Total 3 properties)

Prime Maison GOTENYAMA EAST

Prime Maison GOTENYAMA EAST
Prime Maison GOTENYAMA EAST

■ Installation of emergency power generation facilities (Total 16 properties)


Prime Maison SHINAGAWA

Prime Maison SHINAGAWA


Esty Maison OJIMA

Esty Maison OJIMA(formerly Lieto Court OJIMA)

KOBE Women's
Student Housing

KOBE Women's Student Housing
【Conducting tenant satisfaction surveys】

We intend not only to improve leasing and achieve stable operation but also to communicate and build a reliable relationship with tenants as well as conduct tenant satisfaction surveys to collect the opinions and requests of tenants, as needed.
The results of the surveys are shared with the property management company, building management company, etc. and are used to enhance services.

【Conducting employee training, etc. at the Asset Management Company】

We regularly conduct compliance training, human relations training, disaster drills, etc. with the intention of providing an understanding of governance, improving the working environment and implementing disaster prevention measures for employees at the Asset Management Company.
In addition, we regularly conduct workplace gatherings to discuss requests, etc. from employees with the intention of enhancing employee satisfaction by improving the working environment.

【Other efforts】

We sequentially or as needed install and introduce facilities, etc. that enable tenants to live safely and peacefully in properties, paying consideration to the environment and local communities.

Installation of emergency cabinet for elevators

Installation of emergency
cabinet for elevators

Distribution of stockpiled emergency supplies to tenants

Distribution of stockpiled
emergency supplies to tenants

Stockpile of emergency toilet

Stockpile of emergency toilet

Installation of AED (automated external defibrillator)

Installation of AED
(automated external defibrillator)

Installation of electric vehicle charger

Installation of electric vehicle charger

Installation of digital signage

Installation of digital signage

Trends in the amount of consumed energy, CO2 emission and used water in real estate owned

We promote various efforts to reduce environmental burdens such as activities described in the above "CSR and Environmental Activity Case Studies" as well as through efforts to understand the amount of consumed energy, CO2 emission and used water in properties owned by the Investment Corporation.

Actual results of the overall portfolio of the Investment Corporation in the last three fiscal years are as follows.

【Residence】

Fiscal 2014 Fiscal 2015 Fiscal 2016
Number of targeted properties 94 properties 100 properties 107 properties
Amount of consumed energy and electricity (MWh) 5,094 6,345 7,113
CO2 emission (GHG emission) (t-CO2) 1,732 2,157 2,418
Amount of used water(m3 81,956 84,285 91,674

【Other property in trust (Retail)】

Fiscal 2014 Fiscal 2015 Fiscal 2016
Number of targeted properties 5 properties 2 properties 2 properties
Amount of consumed energy and electricity(MWh) 2,561 174 52
CO2emission(GHG emission)(t-CO2 870 59 17
Amount of used water(m3)* 20,197 12,525 13,644
*
Among properties owned by the Investment Corporation, actual results of the properties whose numerical values are able to be known are indicated.
*
In other property in trust (retail), only the amount of used water is added to the figures of "HAMAMATSU Plaza."
*
CO2 emission (GHG emission) is an estimation made at the Asset Management Company based on the monitoring guideline of Japan's Voluntary Emissions Trading Scheme.

Examples of Environmental Certification, etc. from External Agencies

The Asset Management Company has been implementing various environmental initiatives at properties The Investment Corporation holds based on its environmental basic policy and sustainability policy. The Investment Corporation also has obtained environmental certifications from the following external agencies and intends to utilize them for future activities.

【Global Real Estate Sustainability Benchmark (GRESB)】

The Investment Corporation continued to participate in Global Real Estate Sustainability Benchmark (“GRESB”) Assessment to real estate companies and funds, and acquired the high “Green Star” ranking in the GRESB real estate evaluation conducted in 2017 as well as “4 Stars” in the GRESB rating, in addition to being selected as a “Sector Leader” in Asian Residential Sector (ranked first) for the third consecutive year. The Investment Corporation has also achieved the global average of “C” in the GRESB Public Disclosure launched in 2017.

GRESB Green Star 2016 GRESB Sector Leader 2016
【Assessment Points】

The Investment Corporation believes the following efforts were highly evaluated in the 2017 GRESB assessment.

  • Establishment of sustainability policies and management system of such policies
  • Proactive implementation of measures to mitigate environmental impact such as energy-saving activities
  • Efforts to establish collaborative relationship with stakeholders such as our tenants
  • Monitoring practices with an aim of increasing the resource efficiency of real estate portfolio and continnous acquisition of green building certifications
*
For the result of the assessment, please refer to the press release titled “Notice Concerning Results of GRESB Real Estate Assessment, etc. (Selection as “Sector Leader” for the Third Consecutive Year in Asian Residential Sector)” issued by the Investment Corporation in the website linked below.
http://www.shi-reit.co.jp/site/file/tmp-Ckv4D.pdf

Overview of GRESB and the GRESB Real Estate Assessment

The GRESB is a benchmark system for evaluating sustainability performance in the real estate sector, established in 2009 primarily by major European pension fund groups, which played a major role in establishing the Principles for Responsible Investment (PRI), for the purpose of enhancing shareholder value by applying environmental, social and governance (ESG) considerations to real estate investments. As of September 2017, 66 major institutional investors are GRESB members with total assets under management of approximately 1,870 trillion yen (approximately US$17 trillion [at a rate of 110 yen to the U.S. dollar]) and use GRESB in selecting investment objects and discussing with clients they invest in.
The GRESB is based on assessments about sustainability efforts of real estate companies, REITs and funds, not of individual real estates. A total of 850 entities globally, including 53 entities from Japan's market comprising of real estate companies, REITs and funds, participated in the 2017 assessment.
The GRESB Real Estate Assessment is conducted through evaluation of the two dimensions of “Management and Policy” with respect to consideration for ESG and “Implementation and Measurement” with respect to actual efforts.
Furthermore, GRESB Rating (a five-level rating with the highest being “5 Stars”) based on relative status by global ranking shows a participant's practical level on ESG in the overall GRESB Score more clearly.
In addition, the “GRESB Public Disclosure (a five-level rating from “A” to “E”)” was introduced in 2017 to measure ESG disclosures for more than 450 listed real estate vehicles with coverage of all FTSE EPRA/NAREIT Developed Index components as well.

【DBJ Green Building Certification】

Residence Edition of DBJ Green Building Certification was launched in January 2015, and Prime Maison SHINAGAWA and Prime Maison GOTENYAMA EAST, properties owned by the Investment Corporation, were the first two to acquire the certification. From then onward, the Investment Corporation has received the certification for its owned properties described below as of September 30, 2017.

Properties that acquired DBJ Green Building Certification

(As of September 30, 2017)

*
Click on each photo to show relevant press releases regarding certification.

Overview of DBJ Green Building Certification System

The DBJ Green Building Certification System is designed to mark buildings by using a scoring model originally developed by the Development Bank of Japan (DBJ) and select blue-chip real estate that meets the demands of the times. Its purpose is to promote real properties that demonstrate environmental performance as well as security measures and disaster prevention measures and take into account the social requirements from various stakeholders surrounding the properties (“Green Building”).

Properties with
the best class
environmental &
social awareness
Properties with
exceptionally high
environmental &
social awareness
Properties with
excellent
environmental &
social awareness
Properties with
high
environmental &
social awareness
Properties with
satisfactory
environmental &
social awareness
5 stars 4 stars 3 stars 2 stars 1 star
five stars four stars three stars two stars one star
*
For details regarding the “DBJ Green Building Certification System”, please refer to the website below.
http://www.dbj.jp/en/service/finance/g_building/outline.html

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