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Key Theme 1: Environment

Reducing GHG Emissions and Promoting Utilization of Renewable Energy

Reducing Greenhouse Gases and Promoting Use of Renewable Energy

The Mitsubishi Estate Group set out Group-wide medium- to long-term greenhouse gas emissions reductions targets (approved by the SBTi*1 in April 2019) in March 2019. Moreover, in February 2022, the Group formulated new reduction targets in line with the Net-Zero Standard published by the SBTi in October 2021 (in process of applying to the SBTi for approval as of March 31, 2022) and made a commitment to the SBTi’s 1.5℃ scenario (the scenario for GHG reduction of a level that limits warming to 1.5℃ or lower during this century). The Group also joined RE100*2 in January 2020 and had committed to switching to 100% renewable energy for the electricity used in business by 2050. With the revision of the Group’s targets in line with the Net-Zero Standard outlined above, the Group has also renewed its renewable energy rate target to achieve 100% group-wide by fiscal 2025.

These two goals are positioned as important parts of the Environment theme in the Mitsubishi Estate Group 2030 Goals for SDGs, and the Group is working together to deepen its initiatives in these areas.

  • The Science Based Targets initiative is a joint initiative by the World Wide Fund for Nature (WWF), CDP (an international NGO that provides investors, companies, cities, states and regions with a global disclosure platform to manage their environmental impacts), UN Global Compact, and the World Resources Institute (WRI). The initiative encourages companies to set greenhouse gas emissions reduction targets based on scientific evidence, which are consistent with the level required under the Paris Agreement (limiting average global temperature rise due to climate change to well-below 2℃ above pre-industrial levels and pursuing efforts to limit warming to 1.5℃.)
  • RE100 is a global corporate initiative led by The Climate Group, an international NGO working to accelerate climate action, in partnership with CDP. RE100 brings together influential businesses committed to switching to 100% renewable energy for the electricity they use.

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Introduction of Renewable Power in 18 Marunouchi Area Buildings and Yokohama Landmark Tower

Mitsubishi Estate announced it will use renewable energy-derived electricity ("renewable power") for all of its electricity in 18 office buildings it owns in the Marunouchi area (Otemachi, Marunouchi, and Yurakucho), along with the Yokohama Landmark Tower, from fiscal 2021 in order to meet targets on reducing CO2 emissions and increasing the percentage of renewable power. The total reduction in CO2 emissions for the 18 buildings in the Marunouchi area is expected to be approximately 160,000 tons annually, equivalent to around 80% of the CO2 emissions from the buildings Mitsubishi Estate owns in the area. The Mitsubishi Estate Group's renewable power percentage is also expected to increase to around 30%, and will meet the interim target (renewable power percentage of 25% by 2030) ahead of schedule.

The renewable power to be introduced will be sourced based on a contract that combines the green power sourced directly from the power generation facilities and the use of feed-in tariff (FIT) non-fossil fuel certificates with tracing information*, so all the buildings in the changeover can meet the RE100 standards. Since all the energy used in the buildings involved in the changeover will be renewable power, the tenant companies can freely state they are using renewable power without making any other special arrangements such as a memorandum.

Going forward, renewable power will be introduced in all the buildings owned by Mitsubishi Estate in the Marunouchi area in fiscal 2022, and the company also plans to actively introduce renewable power in other areas.

  • Certificates for electricity from renewable energy sources covered by the feed-in tariff (FIT) system. Non-fossil fuel certificates with tracing information further identifies the renewable energy source from which the environmental value is derived.

See the following for the list of buildings to introduce renewable energy.

List of Buildings to Introduce Renewable Energy

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Implementing the PPA Model in Logicross Ebina to Obtain Nearly ZEB

In November 2020, the construction of Logicross Ebina, a four-story logistics facility in Ebina, Kanagawa Prefecture, with a total floor area of around 64,200m², was completed. The facility is located 800 meters from the Ebina Interchange on the Metropolitan Intercity Expressway, and therefore convenient and easily accessible to other locations. In December 2020, as a new initiative in partnership with SymEnergy Inc., a PPA*1 model self-consumption solar power generation facility ("PV facility") was installed on the roof and commenced operations. SymEnergy owns the PV facility, and all of the electricity it generates will be used in Logicross Ebina.

In addition, Logicross Ebina has obtained a five-star rating under the Building-housing Energy-efficiency Labeling System (BELS)*2, and has been certified as a Nearly ZEB building, which means that its annual primary energy consumption is nearly zero.

Going forward, Mitsubishi Estate plans to obtain BELS certification as a general principle for the Logicross series of logistics facilities it develops.

  • Power Purchase Agreement = a third-party ownership model for PV facilities
  • A third-party certification system for evaluating and labeling energy efficiency based on the Ministry of Land, Infrastructure, Transport and Tourism's Evaluation Guidelines for Labeling Energy Efficiency Performance For Non-Residential Buildings.

Exterior of Logicross Ebina

BELS ZEB - この建物のエネルギー消費量82%削減 2021年2月10日交付 国土交通省告示に基づく第三者認証

Certification logo

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Including CO2 Emissions in Condominium Household Account Books to Raise Environmental Awareness

Since 2013, Condominium Household Account Books have been distributed to those considering buying a unit in The Parkhouse, a condominium sold by Mitsubishi Estate Residence, with the objective of communicating the environmental performance of the brand and stimulating energy-saving behavior. This account book presents approximation of utilities and other running costs to be incurred after moving into the condominium and communicates energy conservation performance in an easy-to-understand monetary value, thereby helping potential customers make more informed purchasing decisions.

In October 2021, Mitsubishi Estate Residence began an initiative in cooperation with MEC eco LIFE to note the CO2 emissions for each unit in the Condominium Household Account Books. The aim is to increase customer awareness about reducing CO2 by visualizing CO2 emissions.

In December 2020, in recognition of these efforts, Mitsubishi Estate Residence and MEC eco LIFE were selected as the businesses that will jointly implement CO2 reduction action (zero emission action) with the Tokyo Metropolitan Government (TMG) under the TMG's CO2 reduction action (zero emissions) movement — a sustainable society created by consumers and businesses. The program is scheduled to last for three years until fiscal 2022, and Mitsubishi Estate Residence and MEC eco LIFE will continue to further these efforts as they work with the TMG while verifying the results of action.

Going forward, Mitsubishi Estate Residence plans to work on measures that include the introduction of ZEH-M features and renewable energy to achieve an average reduction of 3% per year in CO2 emissions.

Condominium Household Account Book

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