United Urban Investment Corporation

Securities Code
8960

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  4. Initiatives for External ESG Recognition

Initiatives for External ESG Recognition

In order to enhance the objectivity and credibility of the status of environmental and social considerations of real estate properties owned by United Urban, the initiatives to acquire external certification and ratings assigned by third parties are underway. The following is the coverage rate of the properties that obtained external certification, etc. (DBJ Green Building, CASBEE and BELS) among properties owned by United Urban. United Urban would like to raise the portfolio coverage rate of external certification, etc. in the future. Also, United Urban and the Asset Management Company were collectively granted the highest rank of "S" in "MUFG ESG Rating Certificate for J-REIT supported by JCR (Japan Credit Rating Agency, Ltd.)" by Mitsubishi UFJ Research and Consulting Co., Ltd. (MURC).

■ The number of properties that obtained external recognition and its coverage rate (total floor space basis)

DBJ CASBEE for
Real Estate
BELS Total*
Number of properties 12 24 10 45
Portfolio coverage rate (total floor space basis) 25.5% 19.7% 9.2% 52.9%
Data as of December 20, 2018, totaling 113 properties (excluding the properties consisting of only land)
* ARENA TOWER has received recognition under both DBJ Green Building Certification and BELS, but the overlap is deducted in the total.

GRESB Survey

The “GRESB (Global Real Estate Sustainability Benchmark)” is a benchmark developed by a group of leading European pension funds. It evaluates the sustainability performance of real estate companies and funds, and is becoming a de facto standard among major European, American and Asian institutional investors and is utilized in their investment decision-making processes.

GRESB Green Star United Urban has been participating in the GRESB survey since 2012, and the “Green Star” rating was granted to United Urban in 2018 for four consecutive years. It is granted to entities which have exhibited excellence in both dimensions of “Management and Policy” and “Implementation and Measurement.”

United Urban will continue to implement its initiatives for the environmental, social, governance issues going forward.

* Press Release: Notice Concerning Acquisition of “Green Star” Rating in the GRESB Survey (September 21, 2018)

DBJ Green Building Certification

DBJ Green Building Certification Program was established by Development Bank of Japan Inc. in April, 2011 for the purpose of supporting the properties which give proper care to environment and society (“Green Building”). The program evaluates, certifies and supports properties which are required by society and economy. It makes comprehensive assessment of properties, while evaluating various factors which range from properties’ environmental features to their communication with stakeholders, such as disaster prevention and proper care for surrounding communities.

* For more details, please refer to the website of DBJ Certification.

CASBEE for Market Promotion

“CASBEE (Comprehensive Assessment System for Built Environment Efficiency)” is a system for assessing and rating the environmental performance of buildings and built environment, which is being developed and penetrated in Japan, under the leadership of the Ministry of Land, Infrastructure, Transport and Tourism.

CASBEE for Market Promotion was developed with an intention to be widely used among property market participants, and its assessment criteria are designed to use by person engaged in real-estate development and transaction. The assessment items consist of five categories, namely “energy/GHG,” “water,” “materials/safe,” “biodiversity/sustainable site,” and “indoor environment” with 21 assessment items. Taking into account international common items advocated by UNEP SBCI (The United Nations Environment Programme - Sustainable Building and Climate Initiative), the same items as environmental performance items, which have received attention from domestic and foreign companies, are considered.

The following properties owned by United Urban have received the certification.

BELS Certification

“Building-housing Energy-efficiency Labeling System (BELS)” is a third-party certification system for rating residential and non-residential buildings fulfilling the obligation to make efforts for labeling of energy efficiency under the Building Energy Efficiency Act (official name: Act on the Improvement of Energy Consumption Performance of Buildings). The assessment is on the basis of the Building Energy Index (BEI) value derived from primary energy consumption based on the building energy efficiency standards provided by the Japanese government.
The assessment and labeling based on BELS is implemented by assessment association members, which are those “registered housing quality evaluation agencies,” “designated confirmation and inspection bodies” or “registered building investigation bodies” that have submitted notification as an organization implementing BELS operations. The assessment outcome is represented by a number of stars (five-star scale from one star to five stars).

Among United Urbans portfolio, the following properties have received the BELS certification.

MUFG ESG Rating Certificate for J-REIT supported by JCR

United Urban and the Asset Management Company were collectively granted the highest rank of "S" in "MUFG ESG Rating Certificate for J-REIT supported by JCR" by MURC. This rating intends to evaluate J-REITs' initiatives and implementations on ESG (E: Environmental, S: Social, G: Governance) issues based on the items originally selected by MURC with services provided by JCR. It assigns the rank to each J-REIT that applies the evaluation and provides the feedback for improvement.

United Urban and the Asset Management Company have been making efforts for improvement of Sustainability in their asset management with high ESG awareness in order to realize their sound management that can co-exist with the society and environment. Such initiatives and implementations on ESG by United Urban and the Asset Management Company are thought to lead to acquisition of "S" rank in this rating.

* Press Release: Notice Concerning Acquisition of the highest rank of "S" in "MUFG ESG Rating Certificate for J-REIT supported by JCR" (November 14, 2018)

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