NOMURA REAL ESTATE MASTER FUND, INC.

TSE code :3462

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Environmental Measures

Counting Climate Change

Our Stance on and Basic Policy for Addressing Climate Change Issues

In recent years, the growing implications of climate change are affecting people’s living conditions, business activities and human society as a whole. With the 2015 adoption of the Paris Agreement, which defines an overarching framework for countering climate change, the international community has accelerated a number of initiatives aimed at reducing greenhouse gas (GHG) emissions. While national governments play key roles in these initiatives, the private sector’s corporate citizens are also expected to fulfill their responsibilities. Accordingly, Nomura Real Estate Master Fund, Inc. (NMF) recognizes that countering climate change via, for example, the reduction of GHG emissions, is of critical importance in light of its business strategies aimed at maintaining ongoing operations.
Based on this recognition, NMF will contribute to a shift to a low-carbon society through the reduction of GHG emissions while securing its preparedness to natural disasters and other phenomena arising from climate change.

Key Performance Indicator (KPI)
Targeting 25% reduction in GHG emissions in our portfolio by 2030 from 2016 levels.

For actual results to KPI, please referhere.

Solar Power Generation Facilities

We are utilizing renewable energy by installing solar power generation panels on the rooftops of logistics facilities.

(FY2018 actual results)

Number of properties Annual output
10(※) 9,464,639kWh
(※) Actual results for Landport Ome I as of December 2018.
  • Landport浦安
  • Landport春日部
  • Landport厚木
Energy Saving via a Switchover to LED Lighting
We are promoting a switchover to LED lighting at our properties to reduce energy consumption.
  • 新宿野村ビル
  • Landport柏沼南Ⅰ
Energy Saving via the Renewal of Air-Conditioning Facilities
We are engaging in the renewal of air-conditioning facilities at our properties to reduce energy consumption.
  • 空調設備
External Assessment of Energy-Saving Measures
We are proactively receiving an external assessment of energy-saving measures we have in place at our properties while drawing on assessment results to improve property management and realize further reductions in energy consumption.
  • 省エネ診断

(As of February 2019)

Floor area basis Number of properties basis
65.5% 20.6%

Collaboration with Tenants
Green Lease Clauses
Standard lease contracts proposed by NMF include the following clauses aimed at ensuring that NMF and tenants work together to reduce environmental burdens.
・Collaboration in the implementation of energy- and water-saving measures and waste reduction efforts to improve environmental performance and acquire relevant external certifications
・Information sharing pertaining to status and goals with regard to energy consumption and other environmental performance indicators

<An example of a green lease scheme >
Under this scheme, NMF and its tenants agreed to share expenses for investment in energy-saving facility upgrades (i.e., a switchover to LED lighting)
・NRE Yotsubashi Building
・SORA Shin-Osaka 21
・Sagamihara Tana Logistics Center

A System for Making It Easier to Check Energy Consumption (PMO Series)
Tenant Engagement Program
Properties leased under the PREMIUM MIDSIZE OFFICE (PMO) brand are furnished with tablet terminals that make it easier to check the status of energy consumption, with the aim of ensuring that NMF and tenant companies share an acute awareness of the need to pursue eco-friendly operations and reduce environmental burdens.
  • 専用のタブレット
  • 電気使用量

Replacement of Power Companies
NMF is engaged in the selection of power companies from a broad range of candidates, including Power Producer and Supplier (PPS) companies inaugurated following the liberalization of Japan’s electricity market . For each candidate, NMF gives due consideration to such factors as their cost competitiveness and supply stability as well as CO2 emission coefficients attributable to their energy source mixes.

Adaption to Climate Change
We are proactively expanding greenery at our properties to curb rises in temperatures and reduce energy consumption. Also, we are implementing a number of countermeasures to secure resilience against damage attributable to natural disasters arising from climate change.

Expanding Greenery
We are proactively planting grasses and trees on the rooftops of our properties while striving to allocate larger spaces to greenery in the course of facility renovation.
  • 野村不動産四ツ橋ビル
  • 野村不動産吉祥寺ビル
Countermeasures against Flooding
Flood prevention barriers are in place at such facilities as the NRE Tennozu Building and the Sagamihara Tana Logistics Center to protect them from surges attributable to high tides and heavy rainfalls.
  • 野村不動産天王洲ビル
  • 相模原田名ロジスティクスセンター
Countermeasures against Heavy Snowfalls
In Sapporo, Hokkaido—the northernmost prefecture in Japan—our properties are equipped with road heating systems to lessen the inconvenience of heavy snowfalls. Moreover, we have improved facilities to prevent the accumulation of snow near the roof edges in order to ensure that passers-by are protected from the sudden heavy falls from above.
  • 雪害対策
  • 雪害対策

Preserving Water Resources

Our Stance on and Basic Policy for Preserving Water Resources
Currently, 70% of the Earth’s surface is covered by water. However, fresh water, which is essential to human activities, including business activities, constitutes only 2.5% of the Earth’s overall water volume. Furthermore, with a portion of the fresh water existing in the form of ice, the ratio of fresh water actually available to human society amounts to less than 1% of overall water volume. Therefore, NMF recognizes that efforts to preserve water resources and maintain the sustainable use of such resources is an integral part of its business operations and sustainability initiatives. In line with this recognition, NMF is striving to ensure the appropriate and efficient use of water while reducing the overall water consumption of its properties.
Renewal of Toilet Equipment
We renew toilet equipment in conjunction with tenant turnover. This practice is expected to help reduce water consumption.
  • トイレ機器更新
  • トイレ機器更新
Installation of Smart Sprinkler Systems
We have installed smart sprinkler systems at some of properties leased under the Landport brand. These systems utilize rainwater stored in tanks and are expected to reduce the properties’ water consumption.
  • 潅水設備の設置
Proactive Use of Rainwater and Well Water
Other initiatives aimed at reducing water consumption include the use of rainwater and well water for flushing toilets and watering plants.
Rainwater:Some logistics facilities and office properties utilize rainwater to flush toilets and water plants.
Well water:Some commercial facilities are equipped with well-water filtering systems that provide clean water for flushing toilets.
  • 井水ろ過装置

Promoting Waste Reduction

NMF is striving to curb the emission and generation of waste from its properties in an effort to reduce its environmental footprint and take a greater role in environmental protection.

Installation of Food-Waste Disposers
We have installed food-waste disposers at some properties in collaboration with tenants, thereby striving to reduce the volume of waste generated.
  • 生ごみ処理機の設置

Prevention of Pollution

Due Diligence Prior to Property Acquisition

Prior to making a decision about property acquisition, we address such factors as environmental risk associated with the land subject to possible acquisition. In principle, we green-light investment only when the property in question fulfills both of the following criteria.
・The building engineering report alleges no issues arising from the use or storage of hazardous substances to exist
・There is no potential for soil pollution

Urban Redevelopment

With the aim of reducing its environmental burden, Nomura Real Estate Development Co., Ltd., which serves as NMF’s sponsor, is striving to acquire environmental certification for its properties. Currently, properties developed for leasing under four profitable brands (PMO, GEMS, Landport and PROUD FLAT) in the four key development sectors are being certified one by one under the DBJ Green Building, the Building-Housing Energy-efficiency Labeling System, CASBEE for Real Estate and other certification programs and NMF is actively acquiring these properties. NMF also acts in collaboration with its sponsor to re-develop its aged assets. Specifically, NMF sells these assets to the sponsor, which, in turn, takes advantage of its abundant development capabilities to renovate them, thereby reducing the environmental burden attributable to its portfolio.

<Acquisitions of the Properties Developed by the Sponsor>

Please refer to Environmental Certification for our acquisition status of environmental certifications to our properties.
Please refer to  our Sponsor’s website with respect to the effort to acquire environmental certifications by the Sponsor.

Environmental Performance

Greenhouse Gas (GHG) Emissions

Key Performance Indicator (KPI)
Targeting 25% reduction in GHG emissions in our portfolio by 2030 from 2016 levels.

Actual results of our GHG emissions

  FY2016
(Base Year)
FY2017 FY2030
(Target Year)
GHG Emissions Total GHG
Emissions
(t-CO2)
90,867 77,140
GHG Emissions
Intensity
(t-CO2/㎡)
0.072 0.062
Reduction Ratio of
GHG Emissions Intensity
-13.8% -25.0%
Please refer to the Supplements for Environmental Performance for calculation standards.
Energy Consumption (crude oil equivalent)

Actual results of our energy consumption

  FY2016
(Base Year)
FY2017
Energy Consumption
(crude oil equivalent)
Total Energy
Consumption
(kl)
38,900 38,072
Energy Consumption
Intensity
(kl/㎡)
0.0307 0.0305
Reduction Ratio of
Energy Consumption Intensity
-0.6%
Water Use

Actual results of our water use

  FY2016 FY2017
Water Use Total Water Use(㎥) 723,601 732,547
It is targeted for properties or part of the building where NMF possesses control authority.
Waste Disposed

Actual results of our waste disposed

  FY2016 FY2017
Waste Disposed Total Waste Disposed(t) 8,333 8,530
Among the properties NMF held, it is targeted for all of the properties that NMF were able to get the data.
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