Sustainability Finance
ＨＯＭＥ ＞ Initiatives for Sustainability ＞ Sustainability Finance
Marubeni Private REIT Investment Corporation ("MPR"), for which we are entrusted with asset management operations, has formulated the Sustainability Finance Framework to accelerate its efforts to promote sustainability, diversify financing methods, and contribute to society through sustainability finance.
Sustainability Finance Framework
1.
Use of funds
Green eligibility criteria
Green loans are loans that are allocated to new loans or refinancing funds using assets or construction works which satisfy the "Green eligibility criteria" below.
1.
Green eligible assets
Assets for which any of the following certifications from third-party certification bodies has been or will be obtained or wll be developed.
・DBJ Green Building Certification : 3Stars、4Stars or 5Stars
・BELS Certification : 3Stars、4Stars or 5Stars
・Certification for CASBEE for Real Estate (Note) : B⁺、A or S rank
・LEED Certification : Silver、Gold or Platinum
(Note) Included CASBEE for Buildings (New Construction).
2.
Renovation work etc
・Renovation work intended to improve the number of stars or the grade/rank by one or more of the Green eligible asset certifications in above
・Renovation work intended to reduce either energy consumption, greenhouse gas emissions such as CO2 emissions, or water consumption etc (by 30% or more).
・Installation or acquisition of facilities related to renewable energy
Social eligibility criteria
Social loans are loans that are allocated to new loans or refinancing funds to assets which satisfy the "Social eligibility criteria" below.
・Healthcare facilities, etc. : Facilities and residences that provide high-quality nursing care and other welfare services to the elderly
・Childcare facilities, etc. : Facilities that provide high-quality childcare for children, including nursery schools etc.
・Medical facilities, etc. : Facilities where a medical facility is a tenant and local people can receive high-quality medical care and contribute to their health.
Sustainability eligibility criteria
Sustainability loans are loans that are allocated to new loans or refinancing funds using assets that meet both the Green eligibility citeria and the Social eligibility criteria defined above.
2.
Project Evaluation and Selection Process
Projects subject to the use of funds such as sustainability loans are determined through necessary internal procedures after selecting projects for which the proceeds will be used, verifying and evaluating them to the eligibility criteria, and following the provisions of the internal regulations of the Asset Manager and the Investment Corporation.
3.
Management of raised funds
In principle, the funds raised are fully allocated to pre-selected projects, and as long as the funds procured exist, the allocated funds are tracked and managed internally. However, if the funds procured are not appropriated for assets defined in the Sustainability eligible criteria, etc., the unallocated funds will be managed in cash or cash equivalents until the funds procured are allocated to the target project.
Evaluation by an External Organization
MPR is subject to the Sustainability Finance Framework by Japan Credit Rating Agency, Ltd. ("JCR"). We have obtained 「SU1(F)」, the highest level of the JCR Sustainability Finance Framework Evaluation.
Reporting
1.
Reporting on the status of fund allocation
The status of allocation of funds related to sustainability finance of MPR as of July 31, 2023 is as follows.
| division |
funds |
Procurement time |
Repayment due date |
Target properties |
Appropriation Status |
| TL31 (Social loan) ※1 |
850 million yen |
February 26,2021 |
February 29,2028 |
MPR Iriya Serviced housing for the elderly・Nursery School |
Appropriated |
| TL39 (Green loan) ※2 |
2,750 million yen |
August 31,2022 |
February 29,2028 |
ENOTOKI |
Appropriated |
| Extreme loan 30 (Green loan) |
4,000 million yen |
April 6,2023 |
April 5,2024 |
MPR Noda Nakazato Logistics Center |
Appropriated |
※1 This social loan has received a comprehensive rating of "Social1", the highest rating for compliance with the "Social Loan Principles" from JCR.
※2 This green loan has received a comprehensive rating of "Green1", the highest rating for compliance with the "Green Loan Principles" from JCR.
2.
Impact Reporting (Green loan)
Evaluation of the number of properties and certifications of Green eligible assets
| Certification for CASBEE for Real Estate |
 |
S rank |
2properties |
| A rank |
10properties |
| B＋ rank |
1properties |
| Total |
13properties |
|
|
| BELS |
 |
5 Stars |
4properties |
| 4 Stars |
2properties |
| 3 Stars |
4properties |
| Total |
10properties |
|
|
| DBJ Green Building Certification |
 |
5 Stars |
0properties |
| 4 Stars |
1properties |
| 3 Stars |
2properties |
| Total |
3properties |
|
(Note) The status of certification acquisition as of July 31, 2023 is aggregated.
Status of certification of each Green eligible asset for which proceeds have been allocated
| 1)ENOTOKI |
| Certification Name |
BELS |
| Rank |
★★★★★ |
| Month of certification |
May 2020 |
| Location |
Fujisawa-shi, Kanagawa |
|
|
| 2)MPR Noda Nakazato Logistics Center |
| Certification Name |
BELS |
| Rank |
★★★★★ |
| Month of certification |
March 2022 |
| Location |
Noda-shi, Chiba |
|
Energy consumption、CO₂ emissions、Water consumption
| Energy consumption |
CO₂ emissions |
Water consumption |
| 58,699 MWh |
20,439 t-CO2 |
242,011 ㎥ |
※The results of properties that meet the green eligibility criteria are tabulated.
※Results from April 2022 ~ March 2023 are aggregated.
3.
Impact Reporting (Social loan)
・We disclose output and outcome indicators related to "MPR Iriya Serviced housing for the elderly・Nursery School", which is the target of social loans.
■ Outline of the Property
・The Property is a serviced housing for elderly. There is a nursery school attached to the building. The outline of the facility is as follows.
■ Serviced housing for the elderly
Number of rooms
(Note１) |
Capacity
(Note１) (a) |
Number of residents
(note１) (b) |
Occupancy rate
(b/a) |
| 38 |
38 |
36 |
95% |
■ Nursery School
Number of nursery rooms
(Note2) |
Capacity
(Note2) (c) |
Number of users
(Note2) (d) |
Utilization rate
(d/c) |
| 5 |
63 |
59 |
94% |
(Note1) The figures displayed in the monthly report provided by the operator are indicated.
(Note2) This description is based on interviews with operators.
