NOMURA REAL ESTATE MASTER FUND, INC.

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International Initiatives and Certifications

Signatory to PRI and UNEP FI

Nomura Real Estate Asset Management Co., Ltd. (NREAM), to which Nomura Real Estate Master Fund, Inc.(NMF) entrusts the management of its assets, 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 details, please refer to the press release dated December 18, 2017PDF(211KB)

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 details, please refer to JCI website.

Participation in GRESB Membership

GRESB
An annual benchmarking program aimed at evaluating environmental, social and governance (ESG) initiatives undertaken by real estate businesses, GRESB was established in 2009 by two of Europe’s largest pension fund administrators, which have also taken the lead in establishing the UN Principles for Responsible Investment, acting as its advocates.
In its assessment, rather than simply focusing on individual real estate holdings, GRESB evaluates real estate companies, REITs and private real estate funds on the basis of their sustainability initiatives, thus distinguishing itself from other real estate-related ESG benchmarking programs.
In 2018, 903 real estate companies and funds participated in the assessment, representing more than 79,000 assets across 64 countries, with a total value of USD 3.6 trillion.

For details, 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.

gresb_re_sector_leader

About GRESB’s “Sector Leader”
The GRESB awards the title of “Sector Leader” to real estate companies, REITs and funds which have achieved the highest overall GRESB score within each of the categories such as nature of ownership, sector and region. NMF was named as “Global Sector Leader”, ranking first out of 29 companies globally in listed diversified sector.

GRESB

About GRESB’s “Green Star” and “5-Star” Real Estate Ratings
Under the GRESB program, NMF received a “Green Star” rating for a third consecutive year. The “Green Star” rating is bestowed only to applicants that earn outstanding evaluations in terms of “management & policy” and “implementation & measurement”-two operational dimensions subject to assessment in light of efforts aimed at addressing environmental concerns and sustainability issues. NMF also received a “5-Star” rating for a second consecutive year, the highest under a five-grade evaluation system that reflects global ranking based on an applicant’s total scores.

  • GRESB
  • NMF believes that the factors that helped it earn these ratings are as follows.
    ・Initiatives for enhancing in-house governance system.
    ・Efforts aimed at enhancing the scope of monitoring such as energy consumption, etc..
    ・A proactive attitude toward acquiring “Green Building” and other such certifications

About an “A” Rating under the GRESB Public Disclosure Level Evaluation Scheme
We received an “A” rating for a second 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.

GRESB

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
Targeting increase in the ratio of our properties with Green Certifications to 70% by 2030 (in floor area basis).

Our properties with Green Certifications refer to those certified with any of DBJ Green Building Certification, BELS and CASBEE, etc..
The figure is calculated based on the floor area of our properties excluding land.

Environmental Certification

Number of Properties Floor Area (㎡) Certified Ratio
Green Certifications 56 1,318,670.54 59.5%
DBJ Green Building
Certification
48 1,195,865.19 54.0%
BELS Certification 19 419,436.033 18.9%
(※1) Acquisition status as of Mar. 1, 2019.
(※2) Calculated based on properties in the fund excluding land.
(※3) 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 Status of DBJ Green Building Certification

The following properties among properties owned by the Fund received the certification.

For details, plase refer to DBJ Green Building website.

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 status of BELS Certification

The following properties among properties owned by the Fund received the certification.

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