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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 26 properties

(as of the end of March 2017)

  • Total approx. 925,054kwh annual reduction in electricity usage forecasted
  • Total approx. 479ton 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 505 locations

(as of the end of March 2017)

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

  • Annual reduction of approx. 13% in electricity usage forecasted
  • Approx. 112kg annual reduction in greenhouse gas (CO2) emissions forecasted
*Calculations made by Asset Management Company based on materials released by the Ministry of Economy, Trade & Industry’s Agency for Natural Resources and Energy, assuming power is provided by Tokyo Electric Power Company (2013 CO2 emission coefficient 0.521)
[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 water-saving equipment featuring flow control valves and water-saving showers.

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

(as of the end of March 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
[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 March 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.

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 acquired a “Green Star” rating in the 2016 Global Real Estate Sustainability Benchmark (“GRESB”) Assessment of real estate companies and funds for the second consecutive year. Also, the Investment Corporation was selected as “Sector Leader” for the second consecutive year in Asian Residential Sector (ranked first), the first ever for J-REIT. Additionally, GRESB Rating was introduced this year, the Investment Corporation has achieved “4 Stars” (the highest is “5 Stars”) based on its global ranking.

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

The Investment Corporation believes the following efforts were highly evaluated in the 2016 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
  • Utilization of sustainability performance indicators with an aim of increasing the resource efficiency of real estate portfolio
  • Implementation of activities to establish collaborative relationship with stakeholders such as our tenants
*
For the result of the assessment, please refer to the press release titled “Notice Concerning Acquisition of “Green Star” and “4 Stars” Rating in GRESB Real Estate Assessment (Selection as “Sector Leader” for the second 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-YGf6e.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 2016, 58 major institutional investors are GRESB members with total assets under management of approximately 760 trillion yen (approximately US$7.6 trillion [at a rate of 100 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 759 entities globally, including 46 entities from Japan’s market comprising of real estate companies, REITs and funds, participated in the 2016 assessment.
The GRESB Real Estate Assessment is conducted by evaluating two dimensions which are “Management and Policy” with respect to consideration for ESG and “Implementation and Measurement” with respect to actual effort.
Furthermore, in 2016, GRESB Rating (five-level rating with the highest being “5 Stars”) based on its global ranking has been introduced to show a participant’s practical level on ESG of the overall GRESB Score more clearly.

【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 March 31, 2017.

Properties that acquired DBJ Green Building Certification

(As of March 31, 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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