GRESB “5 Stars”(the Highest Evaluation)

GRESB Real Estate Ratings

In the 2023 GRESB Real Estate Assessment, JRE received the “5 Stars rating”, which is the highest GRESB rating (five-level rating) based on relative evaluation of overall scores, for the sixth consecutive years. It also received “Green Star rating” for the eighth consecutive year, meaning that JRE has demonstrated an excellent ESG management system and performance record. In addition, JRE received the highest evaluations in “GRESB Public Disclosure” as below.

* Please view the table below while scrolling horizontally.

Assessment Type	Content of the Assessment	Rating
GRESB Real Estate Assessment	Evaluates ESG performance in terms of “management & policy” and “asset portfolio performance”	Green Star (Obtained for the eighth consecutive year)
	Relative assessment based on the total score (GRESB Rating)		5 Stars ★★★★★ (Highest rating) (Obtained for the sixth consecutive year)
GRESB Public Disclosure	Evaluates the level of ESG disclosure		A (Highest rating) (Obtained for the sixth consecutive year)

Selected as sustainability champion at the milestone of 10 Years of GRESB

As a Member of the international initiative, JRE-AM has been working for greater sustainability by networking and sharing information with companies that are advanced in terms of ESG as well as by showcasing Japanese practices to the global community. In December 2019, our Head of ESG Office was selected as one of the sustainability champions at the milestone of 10 Years of GRESB.

What is GRESB?

GRESB is an annual benchmarking assessment to measure ESG (Environmental, Social and Governance) integration of real estate companies and funds, as well as the name of organization which runs the assessment. It was founded in 2009 by a group of major European pension funds who played leading roles in launching Principles for Responsible Investment (PRI).

For details on GRESB, please click here (CSR Design Green Investment Advisory Co., Ltd.).
For GRESB website, please click click here.

CDP Climate Change “A List”

CDP Score

JRE received the highest score of “A” securing a place on its annual “A List” for the first time in the 2022 Carbon Disclosure Project (CDP) Climate Change Program.

What is CDP?

CDP is a global non-profit charity that runs the world’s environmental disclosure system. In 2022, over 680 investors with over US$130 trillion in assets requested companies to disclose data on environmental impacts, risks and opportunities through CDP’s platform and a record-breaking 18,700 companies responded.
An assessment questionnaire spanning topics such as governance, risk management, business strategy, and targets and performance is used to score companies among eight levels: Leadership (A/A-), Management (B/B-), Awareness (C/C-), and Disclosure (D/D-). JRE has participated in CDP Climate Change Program since 2018.

For more details on the assessment, please refer to the CDP’s web site.
The full list of companies that made 2022 CDP A List , please click here.

PRI Assessment Result

PRI Assessment Result

PRI signatories are required to report on the status of their ESG integration practices to PRI each year. JRE-AM has received the following evaluation results for which we made the report in 2021.

For more details on the signatory to PRI, please click here.

ISS ESG Corporate Rating “Prime” Status

ISS ESG Corporate Rating

JRE achieved ISS ESG Corporate Rating “Prime Status” in March, 2020. ISS highly noted JRE for Eco Efficiency, Climate Change Strategy and Environmental Management. Prime companies are regarded as sustainability leaders in their industry.

For more details on ISS ESG Corporate Rating, please click here.

ESG Finance Award “bronze”

Winning the ESG Finance Award

JRE Investment Corporation Bonds (JRE Green Bonds) won “bronze” at the Ministry of the Environment’s inaugural ESG Finance Awards in February 2020.

For more details on JRE Green Bonds, please click here.

What is ESG Finance Award?

ESG Finance Award is an award program launched in 2019 by the Ministry of the Environment which is to recognize those investors and financial institutions that have actively involved in promoting green projects and contributed to creating positive impacts for the environment and society. The award program also celebrates outstanding company initiatives which has incorporated significant environmental risks and opportunities into their corporate strategies while also enhancing their corporate values and making positive impacts for the environment.

For more details on ESG Finance Award, please click here. (available only in Japanese)

Inclusion in MSCI Japan ESG Select Leaders Index

JRE was selected as a constituent of the MSCI Japan ESG Select Leaders Index in 2022.

About the MSCI Japan ESG Select Leaders Index

The MSCI Japan ESG Select Leaders Index is an index to represent companies with high ESG performance selected based on the data from the MSCI Japan IMI Index. The index has been selected by the Government Pension Investment Fund (“GPIF”) as one of their ESG indices for their passive investment strategy.

Disclaimer
THE INCLUSION OF JRE IN ANY MSCI INDEX, AND THE USE OF MSCI LOGOS, TRADEMARKS, SERVICE MARKS OR INDEX NAMES HEREIN, DO NOT CONSTITUTE A SPONSORSHIP, ENDORSEMENT OR PROMOTION OF JRE BY MSCI OR ANY OF ITS AFFILIATES. THE MSCI INDEXES ARE THE EXCLUSIVE PROPERTY OF MSCI. MSCI AND THE MSCI INDEX NAMES AND LOGOS ARE TRADEMARKS OR SERVICE MARKS OF MSCI OR ITS AFFILIATES.

Sustainability Certification

JRE has set “Environmental Consideration of Portfolio” as one of our Materiality, and also has set the percentage of green building-certified properties (green building certifications, energy ratings, etc.) as a KPI. JRE will maintain more than 70% of our properties obtain green building certificates, and continue its efforts to operate “offices of tenants' choice”.

* Please view the table below while scrolling horizontally.

• Counts number of certifications obtained.
• Includes “DBJ Green Building” certification CASBEE certification and “BELS” certification.
• Excludes duplication of DBJ Green Building, CASBEE certification and BELS for the same property.

Obtaining DBJ Green Building certification

The DBJ Green Building certification was established by the Development Bank of Japan with the aim of encouraging real estate project activities to pursue environmental and social contributions, instead of focusing solely on economic performance. Green Building-certified properties are selected based on a comprehensive evaluation scheme for multiple criteria including tenant amenities, involvement in local community, and risk management, in addition to the environmental performance of the building. Under this program, a number of properties held by JRE have been highly rated, including Harumi Front, which received the highest Five Stars rank, representing the first J-REIT property that has ever been honored with this evaluation.

Please click here for more information about DBJ Green Building authentication.

CASBEE Real Estate Certification

Comprehensive Assessment System for Built Environment Efficiency (CASBEE) is a method for evaluating and rating the environmental performance of buildings and the built environment. It is a comprehensive assessment of the quality of a building, evaluating features such as interior comfort and scenic aesthetics, in consideration of environment practices that include using materials and equipment that save energy or achieve smaller environmental loads.
The CASBEE assessment is ranked in five grades: Superior (S), Very Good (A), Good (B+), Slightly Poor (B-) and Poor (C).

Acquisition of ZEB Certification

BELS (Building-Housing Energy-efficiency Labeling System）certification is a public evaluation system established based on the Building Energy Efficiency Act, which evaluates the energy conservation performance of buildings. Third parties evaluate primary energy consumption based on the building energy efficiency standards provided by the Japanese government. Evaluation result is represented by a number of stars (from one star “★” to five stars “★★★★★”) on the basis of the Building Energy Index (BEI) value.

A Net Zero Energy Building (“ZEB”) is a building that aims at zero energy balance with considerably reduced annual energy consumption by saving as much energy as possible via better heat insulation, solar shading, natural energy and high‐efficiency equipment, coupled with creating energy by photovoltaic power generation (or other energy generating methods), while maintaining a comfortable environment.
In addition, in the BELS certification system, it is possible to obtain certification according to the level of ZEB, ZEB (energy savings of 100% or more), Nearly ZEB (energy savings of at least 75%), ZEB Ready (energy savings of greater than 50%), and ZEB Oriented (Gross floor area 10,000m² or more and energy savings beyond the regulation for each application). It is evaluated in 4 stages.

For details about BELS and ZEB, please refer to the link below.
* BELS (available only in Japanese)
* ZEB (available only in Japanese)

Properties with ZEB Certification

■Related Information: Climate Change Initiative

Certified Properties

CASBEE certification is obtained for each property usage, so the results are listed on usage basis.