Policies and Targets
- Mitsubishi Estate Group Medium- to Long-Term Greenhouse Gas Emissions Reductions Targets (SBT-Approved)
- Formulating Target for 100% Renewable Energy Rate in Conjunction with RE100 Commitment
- Mitsubishi Estate Group Basic Environmental Policy
- The Mitsubishi Estate Group Green Procurement Guidelines
- Mitsubishi Estate Group Timber Procurement Guidelines
Mitsubishi Estate Group Medium- to Long-Term Greenhouse Gas Emissions Reductions Targets (SBT-Approved)
The Mitsubishi Estate Group formulated group-wide medium- to long-term greenhouse gas (GHG) emissions reduction targets in March 2019. In April 2019, the Group’s targets were approved by the Science Based Targets initiative as consistent with the level required under the Paris Agreement (limiting average global temperature rise due to climate change to well below 2°C above pre-industrial levels and pursuing efforts to limit warming to 1.5°C) based on scientific evidence. Moreover, in March 2022, the Group revised its targets in line with the Net-Zero Standard published by the SBTi in October 2021 based on its 1.5°C scenarios (Targets approved by the SBT initiative in June 2022).
The Group will further deepen its initiatives through such means as introducing electricity derived from renewable energy and utilizing new technologies, thereby contributing to the realization of a low carbon footprint society.
- 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°C above pre-industrial levels and pursuing efforts to limit warming to 1.5°C.)
Mitsubishi Estate Group Medium- to Long-Term Greenhouse Gas Emissions Reductions Targets
GHG Emissions Reduction Targets (revision in March 2022)
(Targets approved by the SBT initiative in June 2022)
- Reduce Scope 1 + 2 by 70% or more and Scope 3 by 50% or more by fiscal 2030 compared to fiscal 2019 emissions
- Achieve net-zero emissions by 2050 (reduce Scope 1, 2, and 3 by 90% or more. Neutralize residual emissions*)
- Emissions that remain unabated within the value chain in the target year are termed “residual emissions.” The SBTi standard requires neutralizing any residual emissions using forest absorption and carbon removal technologies outside the value chain to counterbalance the impact of these unabated emissions and to achieve net-zero emissions.
Based on SBTi's new Net-Zero Standard (1.5℃ scenario)
See the following for data on greenhouse gas emissions.
Formulating Target for 100% Renewable Energy Rate in Conjunction with RE100 Commitment
On January 31, 2020, Mitsubishi Estate joined RE100*, a collaborative initiative under which businesses commit to using 100% renewable energy. In March 2022, Mitsubishi Estate revised its GHG reduction targets in line with the SBTi’s Net-Zero Standard and, in conjunction with these revisions, also renewed the Group’s renewable energy rate target to achieve 100% group-wide by fiscal 2025.
- RE100 is a global corporate initiative led by The Climate Group, an international NGO working to accelerate climate action, in partnership with CDP, an international NGO that provides investors, companies, cities, states and regions with a global disclosure platform to manage their environmental impacts. RE100 brings together influential businesses committed to switching to 100% renewable energy for the electricity they use.
Mitsubishi Estate Group Basic Environmental Policy
The Mitsubishi Estate Group has established the Mitsubishi Estate Group Basic Environmental Policy, which is based on its corporate mission. The entire Group works together to implement sound environmental management.
The Mitsubishi Estate Group has developed an environmental management system and strives to protect the environment by promoting environmental initiatives and reducing environmental impact, as well as complying with all environmental laws and regulations. Mitsubishi Estate is determined to ensure that its business activities play a leading role in the development of sustainable communities.
- 1.Building a low-carbon society
We are proactive about the efficient use of resources and energy, and encourage the use of renewable energy to contribute to the creation of a low-carbon society.
- 2.Creating a sound material-cycle society
We strive to reduce, reuse, and recycle in every stage of our business, including planning, development, design, construction, management and dismantlement, in order to contribute to building a sound material-cycle society.
- 3.Fostering harmony between nature and human society
We endeavor to foster new cultural values and to practice environmental responsibility by demonstrating concern for biodiversity and developing attractive urban spaces that harmonize with the surrounding natural environment, thus helping to build a society that lives in harmony with nature.
- 4.Promoting environmental communication
We proactively provide information on the environment and communicate with society on a broad range of issues in our efforts to coordinate and cooperate with a wide range of stakeholders.
- 5.Increasing employees' ecological awareness
In our efforts to increase employees' awareness of environmental conservation issues and ensure highly effective environmental activities, we provide environmental education and awareness programs, aiming to develop an ecologically aware workforce.
Established on May 1, 2004
Revised on January 1, 2006 and April 1, 2010
The Mitsubishi Estate Group Green Procurement Guidelines
The Mitsubishi Estate Group established the Green Procurement Guidelines as an active effort to be environmentally friendly and help reduce the burden on the global environment. The Guidelines promote green procurement, which refers to procurement or construction methods that use materials and equipment with a low environmental impact.
These Guidelines apply to all products, services, designs and construction work procured by the Mitsubishi Estate Group.
In April 2016, the Group also drew up the Paper and Printed Matter Procurement Guidelines to further those efforts.
The basic policies set out in the Green Procurement Guidelines are as follows.
Mitsubishi Estate Group Timber Procurement Guidelines
The Mitsubishi Estate Group has established the Mitsubishi Estate Group Timber Procurement Guidelines based on the Mitsubishi Estate Group Basic Environmental Policy to ensure no forest destruction or deforestation and the protection of biodiversity in the procurement of timber in the Mitsubishi Estate value chain.
The timeline for the measurement of progress in the achievement of the guidelines is fiscal 2025 as a milestone (goal: minimum 90% achieved) and fiscal 2030 as the target year for achievement.
The guidelines were established with supervision from WWF Japan.
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We only source timber grown in countries where the risk of illegal logging is deemed low, including Japan-grown timber.
Achieve 100% by FY2030
Mitsubishi Estate Group Timber Procurement Guidelines (PDF 86KB)
