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).
|Number of properties||12||24||16||51|
|Portfolio coverage rate (total floor space basis)||25.2%||19.4%||11.4%||54.7%|
|Data as of August 31, 2019, totaling 116 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.|
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.
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.
DBJ Green Building Certification
* For more details, please refer to the website of DBJ Certification.
CASBEE for Real Estate
CASBEE for Real Estate 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.
“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.
Rank ★ ★ ★ ★
Rank ★ ★ ★
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)|