Policy on the Acquisition of Third-party Certifications
Japan Logistics Fund is actively engaged in ESG activities. Believing it important to obtain objective evaluations and certifications for those activities, JLF has acquired a wide variety of certifications including green building assessment.
I. Overview of GRESB Assessment
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).
Currently, more than 100 Investor Members use GRESB data for their investment decision-making and engagement with investees, and several Japanese institutions, including Government Pension Investment Fund (GPIF), utilize GRESB Assessment results. In 2020, 1,229 listed and private real estate companies/funds participated in GRESB Real Estate Assessment.
Please refer to GRESB website for more details (https://gresb.com/).
II. Assessment Result
JLF has received a ”Green Star” designation since it is highly evaluated in both dimensions of “Management & Policy” and “Implementation & Measurement” with regards to activities for environmental and social consideration and sustainability.
Policy on the Greenification of Assets Under Management (Policy on the Acquisition of Green Building Certifications)
JLF views the resolution of environmental challenges such as climate change to be a material management issue for JLF’s sustainable business activities and its business strategy aimed at realizing sustainability. That is why JLF invests in environmentally friendly properties and strives to enhance energy efficiency through the management of its portfolio by implementing environmental and energy-conservation measures. The aim is to build an environmentally friendly portfolio. Moreover, in situations where JLF performs an own-book redevelopment (OBR) of a portfolio asset, it intends to acquire green building certifications on the redeveloped property.
Target for the acquisition of green building certifications on portfolio assets (as a percentage of leasable area)
Raise up to 50％ by the end of FY 2025
Raise up to 70％ by the end of FY 2030
The asset manager ensures that at least one employee is qualified as a CASBEE real estate assessor and holds training sessions for employees in relevant departments to deepen knowledge on green building certifications.
Certification acquisition (%) as of March 31, 2021
|Category||Type of certification||Number of properties||Leasable area
|Percentage of portfolio
|DBJ Green Building
DBJ Green Building Certification
I. Overview of DBJ Green Building Certification
DBJ Green Building Certification Program was launched by Development Bank of Japan Inc. (“DBJ”) 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. Since August 2017, Japan Real Estate Institute evaluates and certifies properties and DBJ controls the DBJ Green Building Certification Program.
For details of the certification program, please refer to the following URL.
The website of DBJ Green Building Certification: http://igb.jp/en/index.html/
II. The Certification Rank
|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|
|4 Stars||2018||M-6 Funabashi Nishiura Logistics Center|
|M-12 Yokohama Fukuura Logistics Center|
|M-13 Yachiyo Logistics Center Ⅱ|
|M-19 Souka Logistics Center|
|M-26 Sagamihara Logistics Center|
|M-31 ShinKiba Logistics Center Ⅱ|
|M-32 Yokohama Machida Logistics Center|
|2019||M-11 Yachiyo Logistics Center|
|M-24 Shin-Koyasu Logistics Center|
|3 Stars||2018||M-5 Urayasu Chidori Logistics Center|
|M-22 Musashimurayama Logistics Center|
|2019||M-28 Chiba Kita Logistics Center Ⅱ|
|M-25 Misato Logistics Center|
|M-39 Saitama Kisai Logistics Center|
|M-40 Kazo Logistics Center|
I. Overview about the BELS
BELS is a third party certification system in Japan that indicates the energy efficiency of buildings. Starting in April 2016, real estate companies (and others) are required to strive to display the energy efficiency of buildings based on the Act on the Improvement of Energy Consumption Performance of Buildings (“Building Energy Efficiency Act”). Specific indication method is stipulated in the guidelines for energy efficiency labels of buildings, BELS is evaluated based on the same guideline, and the assessment result is represented by a number of stars (one star “★” to five stars “★★★★★”).
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 with 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 under 4 levels (ZEB, Nearly ZEB, ZEB Ready, and ZEB Oriented).
II. BELS Evaluation Results
Yachiyo Logistics Center has acquired 5 stars, the highest rank, and is rated ZEB Ready.
Certification based on the SMBC Sustainable Building Assessment Program
I. Overview of SMBC Sustainable Building Assessment Loan Program
A program designed to certify real estate properties satisfying environmental sustainability standards set by original evaluation system of SMBC and Woonerf Inc, and provide loans in accordance with the certificate. The standards include environmental performance capability of the properties, initiatives on risk management necessary for securing sustainability, and policy and implementation program on sustainability management.
II. The Certification Rank
Misato Logistics Center was certificated as “Bronze”, which is the first time the SMBC Sustainable Building Assessment Loan Program awarded to logistics properties.
I. Overview of CASBEE
A system for evaluating the overall environmental performance of a building. It evaluates and rates the environmental performance of buildings based on energy and resource conservation, recycling and other environmental burden reductions as well as interior comfort and landscaping.
II. The Certification Rank
Yachiyo Logistics Center after the redevelopment project and Ichikawa Logistics Center II, Yokohama Machida Logistics Center received an A rating under CASBEE.