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Environment

Promoting Acquisition of Environmental Real Estate Certifications

Policy on Obtaining Environmental Certifications

Mitsubishi Estate recognizes that addressing environmental and social considerations in real estate and indicating performance on these considerations externally is important to meet the expectations and demands of stakeholders such as tenants and investors. Therefore, the company has a policy of proactively obtaining environmental certifications whenever possible.

In Japan, Mitsubishi Estate has obtained certifications that include DBJ Green Building Certification, Comprehensive Assessment System for Built Environment Efficiency (CASBEE), and Building-Housing Energy-efficiency Labeling System (BELS), while the main certifications obtained overseas include Leadership in Energy and Environmental Design (LEED) and BRE Environmental Assessment Method (BREEAM) certifications.

Evaluation/Certification System Overview
DBJ Green Building Certification

DBJ Green Building Certification is a certification system established by the Development Bank of Japan (DBJ) in April 2011 as an initiative to support environmentally and socially conscious management of real estate. Based on a comprehensive assessment which covers such areas as environmental performance, disaster prevention, community considerations and other stakeholder engagement, the system evaluates and certifies real estate anticipated by society and the economy.

Comprehensive Assessment System for Built Environment Efficiency (CASBEE)

CASBEE is a system for comprehensively assessing the quality of buildings, including interior comfort and consideration to landscape as well as environmental considerations such as energy conservation and use of materials and equipment with low environmental impact. It was developed by a research committee established for comprehensive environmental assessment of buildings in April 2001 as a collaborative project between industry, academia, and government under the auspices of the Ministry of Land, Infrastructure, Transport and Tourism, and has been continuously upgraded and maintained since.

Building-Housing Energy-efficiency Labeling System (BELS)

BELS is a system for the assessment and certification of energy efficiency performance in newly built and existing buildings by a third-party organization. In April 2016, the scope of the system was expanded to residential buildings, and it was designated as one of the third-party certifications in the Guidelines on Building Energy Efficiency Labelling based on Article 7 of the Act on the Improvement of Energy Consumption Performance of Buildings (Building Energy Efficiency Act).

Leadership in Energy and Environmental Design (LEED) certification

LEED is a system for assessing environmental performance of buildings and site use developed and operated by the U.S. Green Building Council (USGBC).

BRE Environmental Assessment Method (BREEAM) certification

BREEAM is an environmental assessment system developed by Building Research Establishment Ltd. (BRE) in the UK in 1990 as a tool for assessing the sustainability performance of buildings, communities, and infrastructure.

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Efforts to Acquire Environmental Certification in Overseas Business

The Mitsubishi Estate Group operates globally. Since Mitsubishi Estate New York was established in 1972, we have expanded our real estate development and rental business in the U.S., the U.K. and other European countries, as well as Asia and Oceania, making the most of our track record and wide-ranging network. We are engaged in socially and environmentally conscious urban planning with people in these regions.

Initiatives in the United States

In the U.S., the Mitsubishi Estate Group carries out a wide range of projects, primarily through Rockefeller Group International. In addition to owning and running large-scale office buildings in areas including Manhattan in New York, Rockefeller Group operates a range of development projects around the country, including offices, distribution facilities, and residences. Logistics facilities in particular are expected to expand further due to the dramatic growth of e-commerce within the U.S. over the past few years. It aims to raise the value of real estate with a focus on environmental performance, and therefore works to acquire LEED certificationon both its new development buildings and existing buildings.

Projects earning environmental certification (examples)

GOLD

1221 Avenue of the Americas, New York
This building was completed in 1972 in Manhattan. Although it was LEED certified in 2009 and awarded a Silver LEED rating in 2014, it was upgraded to a Gold LEED rating in 2019 for improvements made to use water more efficiently and for improvements in interior environmental performance through refurbishment of the lobby.

GOLD

Boro Tower, Virginia
Boro Tower is a 20-story, 41,000 square-meter office building co-developed with U.S. real estate company The Meridian Group as part of The Boro Project, a large-scale, mixed redevelopment project in Tysons, Virginia in the greater Washington, D.C. region. The building was completed in 2019 following environmentally-friendly plans and was awarded a Gold LEED rating.

Initiatives in Europe

Since the establishment of Mitsubishi Estate London in 1986, the Mitsubishi Estate Group has handled real estate leasing and development projects for office and leasing properties in central London and continental Europe. With an emphasis on the environmental aspects of its properties the Group has earned BREEAM certification for newly developed buildings as well as buildings already owned.

Projects earning environmental certification (examples)BREEAM

Excellent (planned)

8 Bishopsgate (tentative name), London
8 Bishopsgate (tentative name) is a high-rise office building in London whose construction began in February 2019, expected to be completed in late 2022. The building is equipped with environment-friendly, sustainable features; for example, the closed double-skin glass fa├žade, which provides good environmental performance and is easy to maintain, and advanced rainwater storage and harvesting systems. The project is expected to earn a BREEAM "Excellent" rating.

Excellent

Central Saint Giles, London
A joint redevelopment project with Legal & General, a major UK life insurance company, this complex covers a total floor area of 66,000m² and comprises offices, retail shops and residences. Construction was completed in April 2010. The project earned a BREEAM "Excellent" rating, the highest possible rating at the time of application.

Initiatives in Asia and Oceania

In Asia, the Group established the subsidiary Mitsubishi Estate Asia Pte. Ltd. in Singapore in 2008, followed by Mitsubishi Estate (Shanghai) Ltd. in China in 2013. The Group opened its Taiwan Representative Office in 2017 and established Mitsubishi Estate Taiwan Ltd. in 2018, PT. Mitsubishi Estate Indonesia and Mitsubishi Estate Vietnam Company Ltd. in 2019. The Group operates in the ASEAN area, including Singapore, Vietnam, Thailand, Malaysia, and the Philippines, and in China, developing office, residential, and retail properties.

Projects earning environmental certification (examples)

Daswin Project, Indonesia
This is an office building project being developed jointly with The Gesit Companies and Santini Group. The project was awarded Best Green Development in the PropertyGuru Indonesia Property Awards 2018 in recognition of its advanced environmentally-friendly initiatives. The project is also expected to be awarded a Gold Green Building rating by the Green Building Council Indonesia (GBCI).

CapitaSpring, Singapore
A joint complex redevelopment project with CapitaLand Group, this project has obtained a Platinum rating for the BCA Green Mark, a green building certification in Singapore, and a Gold PLUS rating for the BCA Universal Design Mark, a certification scheme for outstanding universal design.

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