Mitsubishi Estate Group CSR Management

To the Mitsubishi Estate Group, CSR embodies our desire to contribute to society "by building attractive, environmentally sound communities where people can live, work and relax with contentment, and contribute to the creation of a true meaningful society."
By implementing our Code of Conduct on a daily basis and promoting business strategy that is integrated with CSR as we move toward further growth in the 2020s, we aim to "improve true corporate value" that balances contribution to society and the growth of the Group at a high level.

Comments from Experts

Mitsubishi Estate's Management is Evolving as It Tackles the SDGs

Setsuko Egami
Outside Director
Mitsubishi Estate Co., Ltd.

Mitsubishi Estate has worked for many years to address environmental issues because of the unique nature of the real estate business as a consumer of natural resources. Looking back, the 1970s were signified by The Limits to Growth of the Club of Rome, the 1980s were marked by the exploration of approaches to sustainable development, and the 2000s saw many countries begin to take concrete actions toward environmental issues. In other words, the world has been driven to find approaches and mechanisms for sustainability, instead of simply pursuing prosperity and development.

This represents the basic philosophy in which sustainability is viewed as the very foundation of the fulfilling society we live in today. Mitsubishi Estate engages in a wide range of business lines including office buildings centered on Marunouchi, residential, commercial facilities, and logistics facilities. Within our current approach to achieving growth, we have incorporated sustainability into specific elements and processes, and we have worked carefully to monitor targets and results. However, global issues such as resources, air pollution, ocean pollution and food security have become more complicated, while their acuteness is growing in recent years. The SDGs can be seen as a basic stance for finding solutions to these issues.

Viewing the SDGs as a growth mechanism for future corporate activities, Mitsubishi Estate has established CSR Procurement Guidelines and supply chain management, while signing the UN Global Compact and releasing a statement on human rights in 2018. In this manner, we have greatly expanded our initiatives and are making progress. Changes are taking place in shareholder actions and evaluations, as overseas and domestic institutional investors and others are shifting focus to ESG investments that value medium- to long-term returns over short-term gains. As it examines concepts of sustainability for the next 100 years, Mitsubishi Estate intends to work in an integrated manner to address the SDGs from the perspective of business development, business investment, and risks and opportunities.

With regards to diversity, which tends to be viewed as a social issue only, Mitsubishi Estate's ratio of female managers stood at 5.1% as of April 2017. The action plan chart of the Act on Promotion of Women's Participation and Advancement in the Workplace released in 2016 states that companies are to increase the ratio of women in assistant manager positions to 20% by around 2020. However, diversity is also a strategy for enhancing collaborative strengths by incorporating varied skills, approaches, and sensitivities within the same corporate culture. We have cited increased mid-career hiring as a way to accomplish this, but we still have a long way to go. Efficiently promoting diversity as a corporate management strategy requires integrated thinking, a large scope, and myriad actions. Mitsubishi Estate's new innovative office has spurred on work style reform more so than expected. I have high expectations for top management's further commitment toward diversity.

Image:Setsuko Egami Outside Director Mitsubishi Estate Co., Ltd.

Becoming an Appealing, Sustainable Company through Appealing Urban Development

Takeshi Mizuguchi (Ph.D. in Business Administration)
Professor, Faculty of Economics
Takasaki City University of Economics

One of the expectations placed on developers is the creation of infrastructure that addresses climate change.

The private sector's ideas and networks are needed in order to achieve the 2℃ target of the Paris Agreement.

Energy consumption varies largely based on the quality of mobility. One approach to fulfilling Mitsubishi Estate's mission of “We contribute to society through urban development” is to rethink land use as well as help create cities with convenient and energy efficient mobility options through a combination of electric vehicles, hydrogen vehicles and bicycles.

Such an overarching concept requires partnerships with government and consortiums. I believe that the Mitsubishi Estate Group is well positioned to tackle this challenge given its experience with new town development and other projects.

Success at creating a mobility version of model cities with smart communities will make it possible to export urban infrastructure to other countries. I believe this area will become a business opportunity in the future.

Thinking about the concept of urban development using a broader context should also greatly expand developer possibilities.

The time spent at the office occupies more than half of a worker's day, and for this reason the office environment is an extremely important consideration. Mitsubishi Estate's new headquarters features comfortable workspaces. It is the type of office where employees will want to work for the next 30 years. I would like Mitsubishi Estate to leverage this know-how in future urban development for the creation of new communities.

Virtual spaces using AI and social media are growing immensely. Looking ahead, I believe it is a good idea to create a long-term vision for 2050 aimed at the creation of community spaces directly linked with people and urban areas that provide appealing spaces capable of drawing people outside. The more capable it becomes at appealing urban development, the more Mitsubishi Estate will become an appealing company. This will also attract much more talent and lead to the creation of a sustainable company in the process.

Image:Takeshi Mizuguchi (Ph.D. in Business Administration) Professor, Faculty of Economics Takasaki City University of Economics