International Initiatives
Support for TCFD (Task Force on Climate-related Financial Disclosures) Recommendations
In April 2022, Mizuho Realty One Co., Ltd. (MONE) which is the Asset Management Company's parent company announced its support for the TCFD recommendations and joined the TCFD Consortium, an organization of Japanese companies that have endorsed them.
The TCFD is a task force established by the Financial Stability Board (FSB) to study climate-related disclosure and financial institutions' responses, and has published recommendations to encourage companies and other entities to disclose climate change-related risks and opportunities.
The TCFD Consortium was established to bring TCFD-endorsing companies and financial institutions together to promote the initiative and discuss how to promote effective corporate disclosure and link disclosed information to appropriate investment decisions by financial institutions, etc.
Signing of Principles for Responsible Investment (PRI)
MONE which is the Asset Management Company's parent company endorsed the basic tenets of the Principles for Responsible Investment (PRI) and became a signatory organization in April 2022.
PRI is an international network of investors committed to realizing the Principles for Responsible Investment proposed by the Secretary-General of the United Nations in 2006.
The Principles advocate integrating environmental, social and governance issues into investment decision-making, aiming to improve beneficiaries' long-term investment performance and further fulfill fiduciary responsibility by incorporating such perspectives in decision-making process.
External Evaluations
Participation in GRESB Real Estate Assessment
GRESB is the name of an organization that conducts and operates an annual benchmark assessment on real estate companies and funds for Environmental, Social and Governance (ESG) considerations. It was established in 2009 primarily by major European pension fund groups that spearheaded the Principles for Responsible Investment (PRI). This assessment does not focus on individual properties, but rather evaluates the environmental friendliness and sustainability efforts of individual real estate companies and REITs.
One REIT has received a "4 Stars" GRESB rating on a five-star scale based on the global ranking of its overall score. At the same time, it was highly rated in both the “Management Component,” which measures policies and organizational structures for ESG promotion, and the “Performance Component,” which measures environmental performance, initiatives with tenants and other efforts of portfolio properties, and acquired “Green Star”.