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International Initiatives and Certifications

Signatory to PRI and UNEP FI

NREAM has become a signatory to the Principles for Responsible Investment(PRI) and the United Nations Environment Programme Finance Initiative (UNEP FI) in December 2017 based on the idea that asset management considering ESG is essential to the sustainable growth of the asset value.

For more information, please refer to PRI website.

For more information, please fefer to UNEP FI website.

Support for TCFD Recommendations

In July 2020, NREAM expressed its support for the recommendations of the Task Force on Climate-related Financial Disclosures (TCFD) launched by the Financial Stability Board (FSB) for the purpose of discussing the disclosures of climate-related financial information and the responses by financial institutions, and also decided to participate in the TCFD Consortium which is a group of domestic companies that supports TCFD recommendations.

For more information, please refer to TCFD website.

Participation in Japan Climate Initiative (JCI)

NREAM has joined Japan Climate Initiative (JCI) which is a network of various non-state actors such as companies, local governments, organizations and NGOs actively engaged in climate action.

For more information, please refer to JCI website.

Signatory to PFA21

NREAM has become a signatory to the Principles for Financial Action for the 21st Century (PFA21) in July 2019. PFA21 was established in October 2011 as a guideline for financial institutions seeking to fulfil their roles and responsibilities in shaping a sustainable society, with the Ministry of Environment taking on the role of secretariat.

For more information, please refer to PFA21 website.

NREAM Received Minister of the Environment Award from PFA21 in FY2019

NREAM received Minister of the Environment Award in the general category from PFA21 as the most excellent efforts in fiscal year 2019.

<Award Details>
The Most Excellent Efforts in Fiscal Year 2019,
Minister of the Environment Award in the General Category.

<NREAM’s Efforts Evaluated>
The certification and registration for an Environmental Management System (EMS)
by the third party as the first J-REIT (EcoAction21)(※).
※For more information, please refer to “Certification and Registration for
EcoAction 21 Program, Environmental Management System (EMS) in Japan” below this page.

NREAM Received Minister of the Environment Award from PFA21 in FY2019

For more information, please refer to the selection results.

Participation in GRESB Membership

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).
GRESB Real Estate Assessment does not focus on individual properties, but rather on sustainability initiatives by real estate companies, REITs and private real estate funds.
Currently, over 100 investor members use the GRESB data for selecting investment destinations and holding dialogues with their portfolio companies, and in Japan, multiple institutions, including the Government Pension Investment Fund (GPIF), use the GRESB assessment results.
In the 2020 GRESB Real Estate Assessment, a total of 1,229 listed and unlisted real estate companies and funds participated worldwide.

For more information, please refer to GRESB website.

Participation in GRESB Membership
Nomura Real Estate Asset Management Co., Ltd. (NREAM) has become a GRESB Real Estate/ COMPANY & FUND MEMBER to better fulfill its role as an asset manager in light of the growing importance of ESG issues in the investment management industry. Having become a part of the international GRESB initiative, NREAM will engage in networking and information sharing with external corporations that implement cutting-edge ESG activities while introducing best practices undertaken in Japan to its global peers. In this way, NREAM will strive to promote sustainability.


About “4 Stars” and “Green Star” in the GRESB Real Estate Assessment
NMF received a “4 Stars” in GRESB Rating, which is based on GRESB Overall Score and its quintile position relative to global participants. NMF also won a “Green Star” designation for the fifth consecutive year by achieving high performance both in “Management Component” that evaluates policies and organizational structure for ESG promotion, and “Performance Component” that assesses environmental performance and tenant engagement of properties owned.


About an “A” Rating under the GRESB Public Disclosure Level Evaluation Scheme
We received an “A” rating for the fourth consecutive year, the highest rating given under the five-grade GRESB Public Disclosure Level evaluation scheme introduced in 2017 or our proactive information disclosure practices in connection with environmental and sustainability initiatives.


The MSCI Japan ESG Select Leaders Index

The MSCI Japan ESG Select Leaders Index is an index to represent companies with high Environmental, Social and Governance (“ESG”) performance selected based on the data from the MSCI Japan IMI Top 700 Index. The index has been selected by the Government Pension Investment Fund (“GPIF”) as one of their ESG indices for their passive investment strategy.
MSCI reviewed the Index based on the MSCI ESG rating and market capitalization at may 2019 and NMF was included among the real estate sector of the index during their latest review. NMF sees inclusion in the index as having favorable effects to increase the liquidity of our investment units and further broaden our investor universe.


(Note) The inclusion of NMF in any MSCI Index, and the use of MSCI logos, trademarks, service marks or index names herein, do not constitute a sponsorship, endorsement or promotion of NMF by MSCI or any of its affiliates. The MSCI indexes are the exclusive property of MSCI. MSCI and the MSCI index names and logos are trademarks or service marks of MSCI or its affiliates.

Certification and Registration for EcoAction 21 Program, Environmental Management System (EMS) in Japan

The EcoAction 21 Certification/Registration Program is the certification and registration system by a third party for business operators promoting environmental management based on "EcoAction 21 Guidelines" formulated by Japan’s Ministry of the Environment as part of its Environmental Management System. NMF became the first J-REIT to be certified and registered for “EcoAction 21” Program.

For more information, please refer to EcoAction 21 website (Available only in Japanese).

Raising the Proportion of “Green” Properties in Our Portfolio

Basic Policy
NMF recognizes that helping resolve environmental problems, such as issues associated with climate change, is of critical importance to the success of its business strategies aimed at securing ongoing operations. Based on this recognition, NMF is striving to minimize environmental burdens attributable to its portfolio. NMF therefore engages in investment in environmentally friendly properties while working to enhance the efficiency of its energy use by, for example, introducing eco-friendly and energy-saving countermeasures at its properties.

Key Performance Indicator
Raise the ratio of properties acquired green certification (with three stars or more or equivalent to) to 70% by 2030.
Green certification (with three stars or more or equivalent to) refers to DBJ Green Building Certification (three stars or more) or BELS Certification (three stars or more), or CASBEE for Real Estate (B+ or higher)
The figure is calculated based on the floor area of our properties excluding land.

Environmental Certification

Number of Properties Floor Area (㎡) Certified Ratio
Green certification
(with three stars or more or equivalent to)
56 1,246,266.53 52.5%
Green certification 96 1,651,667.19 69.6%
DBJ Green Building Certification 84 1,447,562.52 61.0%
BELS Certification 32 578,756.63 24.4%
(※1) Total number of properties with environmental certification includes Musashiurawa Shopping Square which has received CASBEE for Real Estate Certifications.
(※2) Acquisition status as of Oct. 1, 2020.
(※3) Calculated based on properties in the fund excluding land.
(※4) Calculated based on the floor area multiplied by the fund share of the property or on the floor area of exclusively owned space.

DBJ Green Building Certification
The DBJ Green Building Certification is a certification system created by the Development Bank of Japan (DBJ) to support real estate properties with environmental and social awareness. The certification system evaluates convenience, comfort, disaster/crime prevention, energy-saving, involvement with communities, etc. in addition to environmental performance, and evaluation results are expressed in five-level ratings (5 stars ★★★★★ to 1 star ★).

DBJ Green Building Certification

Acquisition of BELS Certification
BELS certification is provided under a public evaluation system, which evaluates the energy conservation performance of non-residential buildings based on the Building Energy Efficiency Act.
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.
Third parties evaluate the performance of buildings from various points of view, regardless of whether a building is new or not, and the evaluation result is represented by a number of stars (from one star "★ " to five stars "★★★★★").

Acquisition of CASBEE for Real Estate
CASBEE (Comprehensive Assessment System for Built Environment Efficiency) is a method of evaluating and rating the environmental performance of buildings and is being promoted under the leadership of the Ministry of Land, Infrastructure, Transport and Tourism. The evaluation is based on 5 categories: "Energy and greenhouse gases", “Water”, "Resource use and safety", "Biodiversity and sites" ,"Indoor environment", and the evaluation results are presented in 5 levels (from Rank C ★ to Rank S ★ ★ ★ ★).

Acquisition of CASBEE for Real Estate
The certification system for CASBEE for Wellness Office Evaluation is an evaluation system that evaluates the building’s specifications, performance and initiatives supporting the maintenance and enhancement of the building users’ health and comfort.
In addition to factors directly affecting the health and comfort of people working in the building, factors contributing to improve intellectual productivity and performance related to safety and security are also subject to be evaluated.

Acquisition status of environmental certifications

Properties Sector DBJ Green Building BELS
NEC Head Office Building Office ★★★★★
Shinjuku Nomura Building Office ★★★★
NRE Tennozu Building Office ★★★★
Kojimachi Millennium Garden Office ★★★★
Harumi Island Triton Square
Office Tower Y・Z
Office ★★★★
PMO Tamachi Ⅱ Office ★★★★ ★★★
PMO Hatchobori Shinkawa Office ★★★★ ★★★
PMO Hatchobori Ⅲ Office ★★★★ ★★★
PMO Ochanomizu Office ★★★★ ★★★
PMO Akihabara Kita Office ★★★
Omron Kyoto Center Building Office ★★★★
Landport Urayasu Logistics ★★★★ ★★
Landport Itabashi Logistics ★★★★ ★★
Landport Kawagoe Logistics ★★★★ ★★★★
Landport Atsugi Logistics ★★★★ ★★★★★
Landport Hachioji Logistics ★★★★
Landport Kasukabe Logistics ★★★★ ★★
Landport Higashi-Narashino Logistics ★★★★ ★★★★★
Fukasawa House Towers H&I Residential ★★★★
PMO Nihonbashi Honcho Office ★★★ ★★
PMO Hatchobori Office ★★★
PMO Nihonbashi Odenmacho Office ★★★ ★★
PMO Higashi-nihonbashi Office ★★★
PMO Tamachi Office ★★★ ★★
PMO Ginza Hatchome Office ★★★ ★★
PMO Shibakoen Office ★★★ ★★
PMO Hirakawacho Office ★★★
PMO Nihonbashi Mitsukoshi-mae Office ★★★
PMO Shibadaimon Office ★★★
PMO Higashi-Shinbashi Office ★★★ ★★★
PMO Hamamatsucho Office ★★★ ★★
Sapporo North Plaza Office ★★★
NRE Sapporo Building Office ★★★
Yokosuka More’s City Retail Facilities(Near Stations) ★★★
Sagamihara Shopping Center Retail Facilities(Near Stations) ★★★
Universal CityWalk Osaka Retail Facilities(Near Stations) ★★★
Sagamihara Tana Logistics Center Logistics ★★★
Atsugi Minami Logistics Center B Tower Logistics ★★★
Hanyu Logistics Center Logistics ★★★
Landport Ome I Logistics ★★★
Hirakata Kuzuha Logistics Center Logistics ★★★
PROUD FLAT Shirokane Takanawa Residential ★★★
PROUD FLAT Kamata II Residential ★★★
PROUD FLAT Tsurumi II Residential ★★★
PRIME URBAN Shinkawa Residential ★★★
PRIME URBAN Nihonbashi Yokoyamacho Residential ★★★
PRIME URBAN Ikebukuro Residential ★★★
PRIME URBAN Toyosu Residential ★★★
PROUD FLAT Omori Ⅲ Residential ★★★
PRIME URBAN Sapporo Riverfront Residential ★★★
SORA Shin-Osaka 21 Office ★★
NRE Osaka Building Office ★★
NRE Yotsubashi Building Office ★★
Recipe SHIMOKITA Retail Facilities(Near Stations) ★★
Kawasaki More’s Retail Facilities(Near Stations) ★★
GEMS Shinbashi Retail Facilities(Near Stations) ★★ ★★
Izumiya Senrioka Retail Facilities(Near Stations) ★★
Izumiya Yao Retail Facilities(Residential Areas) ★★
Izumiya Obayashi Retail Facilities(Residential Areas) ★★
nORBESA Retail Facilities(Near Stations) ★★
Sagamihara Onodai Logistics Center Logistics ★★
PROUD FLAT Sumida Riverside Residential ★★
PROUD FLAT Asakusa Komagata Residential ★★
PROUD FLAT Yokohama Residential ★★
PROUD FLAT Kamioooka Residential ★★
PRIME URBAN Kagurazaka Residential ★★
PRIME URBAN Monzen Nakacho Residential ★★
PRIME URBAN Machiya South Court Residential ★★
PRIME URBAN Nihonbashi Kayabacho Residential ★★
PRIME URBAN Kita Sanjo Dori Residential ★★
PRIME URBAN Izumi Residential ★★
PRIME URBAN Sakaisuji Honmachi Residential ★★
Serenite Shinsaibashi Grande Residential ★★
NMF Kawasaki Higashiguchi Building Office
NMF Aoyama 1-chome Building Office
NMF Kayabacho Building Office
Nitori Makuhari Retail Facilities(Residential Areas)
FESTA SQUARE Retail Facilities(Residential Areas)
Nakaza Cui-daore Building Retail Facilities(Near Stations)
GEMS Namba Retail Facilities(Near Stations) ★★
PROUD FLAT SangenjayaⅡ Residential
PROUD FLAT Shin Osaka Residential
PRIME URBAN Tsutsumidori Amamiya Residential
Landport Kashiwa ShonanⅠ Logistics ★★★★★
Landport Ome Ⅱ Logistics ★★★★★
Landport Kashiwa Shonan II Logistics ★★★★
PMO Nihonbashi Kayabacho Office ★★★
GEMS Ichigaya Retail Facilities(Near Stations) ★★
GEMS Shin-Yokohama Retail Facilities(Near Stations) ★★
GEMS Sangenjaya Retail Facilities(Near Stations) ★★
Secom Medical Building Office
PMO Akihabara Office
GEMS Shibuya Retail Facilities(Near Stations)
PROUD FLAT Kinshicho Residential
(※) In additon, NMF received certification for CASBEE for Real Estate at Musashiurawa Shopping Square.
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