SASB Standards
SASB Framework
Activity Metrics
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| SASB Disclosure Code | ACCOUNTING METRIC | Fiscal 2020 | Fiscal 2021 | Fiscal 2022 | Fiscal 2023 | Unit |
|---|---|---|---|---|---|---|
| IF-RE-000.A | Number of assets | 19 | 21 | 28 | 29 | assets |
| IF-RE-000.B | Leasable floor area | 666,551 | 818,895 | 966,546 | 998,817 | ㎡ |
| IF-RE-000.C | Percentage of indirectly managed assets | 21.9 | 19.1 | 38.9 | 40.6 | % |
| IF-RE-000.D | Average occupancy rate | 99.8 | 99.8 | 100.0 | 99.98 | % |
Topic: Energy Management
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| SASB Disclosure Code | ACCOUNTING METRIC | Fiscal 2020 | Fiscal 2021 | Fiscal 2022 | Fiscal 2023 | Unit |
|---|---|---|---|---|---|---|
| IF-RE-130a.1 | Energy consumption data coverage as a percentage of total floor area, by property subsector | 100.0 | 100.0 | 100.0 | 100.0 | Percentage (%) of total floor area |
| (Option) | Portion of total portfolio gross floor area with partial energy consumption data | － | － | 100.0 | 100.0 | Percentage (%) of total floor area |
| IF-RE-130a.2 | Total energy consumed by portfolio area with data coverage, by property subsector | 39,146 | 42,172 | 132,317 | 143,677 | MWh |
| Percentage grid electricity | 93.6 | 93.8 | 90.3 | 88.9 | % | |
| percentage renewable | 0.0 | 0.0 | 5.5 | 11.4 | % | |
| IF-RE-130a.3 | Like-for-like percentage change in energy consumption for the portfolio area, by property subsector | -0.3 | 0.45 | -2.7 | -1.0 | % |
| data coverage | 66.3 | 59.7 | 65.2 | 82.7 | Percentage (%) of total floor area |
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| IF-RE-130a.4 | Percentage of eligible portfolio that has an energy rating | 69.2 | 80.2 | 80.1 | 85.7 | Percentage (%) of total floor area |
| Percentage of eligible portfolio that is certified to ENERGY STAR, by property subsector | 0.0 | 0.0 | － | 0.0 | Percentage (%) of total floor area |
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| Note: Properties in Japan are not covered by the ENERGY STAR Certification program, hense there are no certified properties. | ||||||
| (Option) | Percentage of eligible portfolio that has Environmental Certifications | 72.2 | 84.2 | 85.5 | 91.7 | Percentage (%) of total floor area |
| IF-RE-130a.5 | Description of how building energy management considerations are integrated into property investment analysis and operational strategy (Please refer to the “Environmental Initiatives(E)” section of this report for more information) |
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| Mitsubishi Estate Group has established an environmental management system, complies with environmental laws and regulations, and practices environmental consideration and reduction of environmental impact to conserve the environment and promote advanced initiatives to contribute to the realization of a sustainable society through its business activities. Based on MJIA's Sustainability Policy (revised in January 2024), MEL will also strive to invest in various initiatives and energy-efficient facilities that consider the environmental impact, and will continue to work on environmental and energy-saving measures and efficient energy use for the properties it owns, thereby promoting environmental consideration and reducing the environmental impact. |
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Topic: Water Management
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| SASB Disclosure Code | ACCOUNTING METRIC | Fiscal 2020 | Fiscal 2021 | Fiscal 2022 | Fiscal 2023 | Unit |
|---|---|---|---|---|---|---|
| IF-RE-140a.1 | Water withdrawal data coverage as a percentage of total floor area | 100.0 | 100.0 | 100.0 | 100.0 | Percentage (%) of total floor area |
| Water withdrawal data coverage as a percentage of floor area in regions with High or Extremely High Baseline Water Stress, by property subsector | 0.0 | 0.0 | － | 0.0 | Percentage (%) of total floor area |
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| Note: At this time, there are no properties located in regions with high or extremely high baseline water stress. | ||||||
| IF-RE-140a.2 | Total water withdrawn by portfolio area with data coverage | 80,550 | 84,854 | 82,117 | 96,128 | ㎥ |
| Percentage in regions with High or Extremely High Baseline Water Stress, by property subsector | 0.0 | 0.0 | － | 0.0 | % | |
| Note: None of the properties are located in regions with High or Extremely High Baseline Water Stress in Aqueduct | ||||||
| IF-RE-140a.3 | Like-for-like percentage change in water withdrawn for portfolio area, by property subsector | -4.5 | -2.34 | -2.4 | 10.4 | % |
| data coverage | 66.3 | 59.7 | 44.8 | 82.7 | Percentage (%) of total floor area |
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| IF-RE-140a.4 | In our Sustainability Policy, we have set the following: "3. Contribution to water resource conservation and resource circulation: MEL will strive to make effective use of limited resources by improving the efficiency of water use in our managed properties and promoting the 3Rs of waste (reduce, reuse, recycle)." In line with the materiality "promotion of resource conservation" identified based on this policy, we have set a goal of "not increasing water usage intensity by fiscal year 2030 (based on fiscal year 2017)" and are promoting the following measures.
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Topic: Management of Tenant Sustainability Impact
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| SASB Disclosure Code | ACCOUNTING METRIC | Fiscal 2020 | Fiscal 2021 | Fiscal 2022 | Fiscal 2023 | Unit |
|---|---|---|---|---|---|---|
| IF-RE-410a.1 | Percentage of new leases that contain a cost recovery clause for resource efficiency-related capital improvements, by property subsector | (To be disclosed) | (To be disclosed) | (To be disclosed) | (To be disclosed) | Percentage (%) of total floor area |
| Associated leased floor area | (To be disclosed) | (To be disclosed) | (To be disclosed) | (To be disclosed) | ㎡ | |
| (Option) | Percentage of total leasable floor area for buildings leased under a green lease agreement | 100.0 | 100.0 | 100.0 | 100.0 | Percentage (%) of total floor area |
| Of which, floor area percentage for buildings leased under a green lease agreement that contains a cost recovery clause | 100.0 | 100.0 | 100.0 | 100.0 | Percentage (%) of total floor area |
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| IF-RE-410a.2 | Percentage of tenants that are separately metered or submetered for grid electricity consumption | 74.8 | 65.1 | 44.1 | 100.0 | Percentage (%) of total floor area |
| Percentage of tenants that are separately metered or submetered for water withdrawals, by property subsector | 66.1 | 72.4 | 53.3 | 71.1 | Percentage (%) of total floor area |
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| IF-RE-410a.3 | Discussion of approach to measuring, incentivizing, and improving sustainability impacts of tenants | |||||
| MEL and MJIA, the asset management company of MEL, are working to contribute to achieving a sustainable environment by improving the environmental performance of our portfolio. Additionally, we recognize that it is also important to have the understanding and cooperation of tenants who use our properties on a daily basis. MEL and MJIA aim to collaborate for a sustainable environmental society in order to promote awareness- raising activities for tenants, the introduction of green lease contract which enables both building owners and tenants to share the benefits and sustainability-related initiatives with our tenants. | ||||||
| In order to have tenants' cooperation in energy-saving activities smoothly, the environmental consideration clauses such as waste separation, recycling recommendations, air-conditioning operation standards and idling stop are set in the property usage rules. We also have educational activities on tenants such as putting posters on the common areas of each floor. | ||||||
| MEL has concluded a green lease agreement between the owner and the tenant, and is carrying out work to convert the tenant-exclusive interior lighting to LED at the expense of MEL. Under the green lease contract, tenants can reduce electricity usage charges and maintenance costs (tube replacement costs), and the Investment Corporation receives a certain percentage of the reduction as a green lease fee. Furthermore, in order to promote energy-saving measures in cooperation with tenants, the Investment Corporation has newly added green lease clauses (environmentally conscious clauses) to the fixed-term building lease contract templates for all properties. | ||||||
Topic: Climate Change Adaptation
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| SASB Disclosure Code | ACCOUNTING METRIC | Fiscal 2020 | Fiscal 2021 | Fiscal 2022 | Fiscal 2023 | Unit |
|---|---|---|---|---|---|---|
| IF-RE-450a.1 | Area of properties located in 100-year flood zones, by property subsector | 15,027 | 15,027 | 65,329 | 65,329 | ㎡ |
| Note: Area of properties located in the 1000-year flood zone(maximum predicted area of flooding) as a general level classification in Japan, by property subsector. | ||||||
| IF-RE-450a.2 | Description of climate change risk exposure analysis, degree of systematic portfolio exposure, and strategies for mitigating risks | |||||
| (Please refer to the “Climate Change Initiatives” section of this report for more information) | ||||||