Climate Change Data

Mitsubishi Estate Logistics REIT Investment Corporation

Climate Impact & Sustainability Data (2022, 2023-04-01 to 2024-03-31)

Reporting Period: 2022

Environmental Metrics

ESG Focus Areas

  • Environment
  • Social
  • Governance

Environmental Achievements

  • 30% reduction in CO2 emissions intensity by FY2030 (based on FY2017)
  • 15% reduction in energy consumption intensity by FY2030 (based on FY2017)
  • No increase in water consumption intensity by FY2030 (based on FY2017)
  • 70% or more waste recycling by FY2030

Social Achievements

  • Introduced green lease contracts to promote sustainability initiatives with tenants
  • Various training and skills/career development programs for employees

Governance Achievements

  • Quarterly Sustainability Committee meetings at the Asset Management Company
  • Regular internal audits and external audits by an auditing firm

Climate Goals & Targets

Medium-term Goals:
  • 30% reduction in CO2 emissions intensity by FY2030
  • 15% reduction in energy consumption intensity by FY2030
  • No increase in water consumption intensity by FY2030
  • 70% or more waste recycling by FY2030

Supply Chain Management

Climate-Related Risks & Opportunities

Reporting Standards

Frameworks Used: Green Bond Principles (GBP), Green Bond Guidelines (GBGLs)

Third-party Assurance: DNV Business Assurance Japan K.K.

UN Sustainable Development Goals

  • 11. Sustainable Cities and Communities
  • 7. Affordable and Clean Energy
  • 13. Climate Action

Reporting Period: 2023-04-01 to 2024-03-31

Environmental Metrics

Total Carbon Emissions:22,514 t-CO2e (FY2023)
Scope 1 Emissions:0.6 t-CO2e (FY2023)
Scope 2 Emissions:2,811.9 t-CO2e (FY2023)
Scope 3 Emissions:19,701.9 t-CO2e (FY2023)
Renewable Energy Share:11.4% (FY2023)
Total Energy Consumption:143,677 MWh (FY2023)
Water Consumption:96,128 m3 (FY2023)
Waste Generated:4,849 tons (FY2023)
Carbon Intensity:Not disclosed

ESG Focus Areas

  • Climate Change
  • Biodiversity
  • Water Conservation
  • Resource Recycling
  • Tenant Satisfaction
  • Community Contribution
  • Employee Well-being
  • Diversity & Inclusion
  • Compliance
  • Risk Management
  • Stakeholder Engagement

Environmental Achievements

  • Achieved an 'A' rating on the CDP Climate Change Program in 2023.
  • Received 5 Stars and Green Star in the 2024 GRESB Real Estate Assessment for the fifth and sixth consecutive years, respectively.
  • Obtained SBTi certification (net-zero) for its total GHG emissions target for FY2050.
  • Purchased non-fossil fuel certificates equivalent to entire Scope 2 emissions from FY2023.

Social Achievements

  • Regularly conducts tenant satisfaction surveys and implements improvements based on feedback.
  • Participates in community contribution programs, including cleanup activities.
  • Implemented various initiatives to improve employee satisfaction, including flexible work arrangements and training programs.
  • Achieved 88.1% paid leave usage rate for all employees in 2023.

Governance Achievements

  • Established a Sustainability Committee to oversee ESG initiatives.
  • Maintains a robust compliance and risk management system.
  • Introduced an asset management fee structure linked to investment unit performance.

Climate Goals & Targets

Long-term Goals:
  • Achieve net-zero GHG emissions for the entire value chain by FY2050.
Medium-term Goals:
  • Not disclosed
Short-term Goals:
  • Reduce GHG emissions (Scope 1+2) by 42% by FY2030 (based on FY2021).
  • Reduce energy consumption intensity by 15% by FY2030 (based on FY2017).
  • Achieve a 70% or more waste recycling rate by FY2030.
  • Increase the ratio of properties with Environmental Certifications to 100% by FY2030.

Environmental Challenges

  • Climate change risks (transition and physical risks), including increased tax burdens, renovation costs, funding costs, and potential damage from natural disasters.
  • Maintaining high tenant satisfaction.
  • Ensuring compliance with laws and regulations.
Mitigation Strategies
  • Conducted scenario analyses to assess climate change impacts and develop mitigation strategies.
  • Regular tenant satisfaction surveys and implementation of improvements based on feedback.
  • Robust compliance and risk management system, including regular training and internal audits.
  • Green projects to reduce GHG emissions and improve energy efficiency.
  • Acquisition of Environmental Certifications.

Supply Chain Management

Supplier Audits: Not disclosed

Responsible Procurement
  • Sustainable procurement implementation manual requiring suppliers to have policies and systems related to corporate ethics, including anti-fraud and anti-corruption.

Climate-Related Risks & Opportunities

Physical Risks
  • Typhoons, torrential rains, floods, sea level rise, extreme weather conditions
Transition Risks
  • Increased carbon taxes, stricter energy-saving standards, changes in technology, market shifts, deterioration of procurement conditions
Opportunities
  • Cost reduction through energy conservation and renewable energy, increased demand for green buildings, utilization of green bonds

Reporting Standards

Frameworks Used: GRI Standards, SASB Standards, TCFD Recommendations, SFDR

Certifications: Eco Action 21, CASBEE, BELS, SBTi

Third-party Assurance: Japan Audit and Certification Organization for Environment and Quality (JACO)

UN Sustainable Development Goals

  • Not disclosed

Not disclosed

Sustainable Products & Innovation

  • Green buildings with energy-efficient features and renewable energy installations.

Awards & Recognition

  • CDP Climate Change A List (2023)
  • GRESB 5 Stars and Green Star (2024)