Mitsubishi Estate Group 2030 Goals for SDGs
Reducing GHG Emissions and Promoting Utilization of Renewable Energy
Reducing Greenhouse Gases and Promoting Use of Renewable Energy
Reducing GHG Emissions and Promoting Utilization of Renewable Energy
- Reducing Greenhouse Gases and Promoting Use of Renewable Energy
- Accelerating the Transition to Renewable Energy Sources to Achieve RE100
- Developing Logistics That Facilities That Proactively Advance Initiatives for Reducing Environmental Impact
- Delivering the Industry’s First ZEH Condominiums Generating Virtually Zero CO2 Emissions from Electricity Consumption
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 March 2022, the Group formulated new reduction targets in line with the Net-Zero Standard published by the SBTi in October 2021 (Targets approved by the SBT initiative in June 2022). 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.
- 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.)
- 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.
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)
Scope-by-scope of the Group’s primary sources of emissions and initiatives to reduce and neutralize them
- Scope 1: Direct burning of fuel (gas and heavy oil) from the heating supply business and the operation of emergency power generators
Of the emissions for FY2020 (base year), nearly all of the Scope 1 emissions resulted from the use of city gas in the heating supply business. Although these emissions reductions are currently unable to be calculated as part of reduction amounts under the SBTi, we will introduce carbon-neutral city gas using credits gained from forest absorption to help neutralize emissions outside the value chain.
As of November 2021, Marunouchi Heat Supply Co., Ltd., has replaced all of the city gas it uses at its district heating and cooling plants with carbon-neutral city gas. - Scope 2: Direct burning of fuel due to use of purchased electricity, steam, cold and hot water, etc.
Of the emissions for FY2020 (base year), the majority of Scope 2 emissions resulted from electricity consumption.
In addition to further introducing renewable energy at our owned properties, we will aim to achieve a high level of environmental performance and energy efficiency at our properties under development. We will also actively pursue the acquisition of Zero Energy Building (ZEB) and Zero Energy House (ZEH) certifications, among others. - Scope 3: Emissions from other business activities (building construction, use of sold real estate, etc.)
Of the emissions for FY2020 (base year), Scope 3 emissions mainly resulted from the use of construction materials in building construction and the use of sold products. In September 2021, we opened the Royal Park Canvas Sapporo Odori Park, Japan’s first high-rise, hybrid-wooden hotel, which utilizes timber produced in Hokkaido. The amount of lumber used in the structural frames of the Royal Park Canvas Sapporo Odori Park is the largest in Japan, enabling the hotel to curtail approximately 1,380 tons of CO2 emissions compared with a building made entirely out of reinforced concrete. In this way, the Royal Park Canvas Sapporo Odori Park helps in the fight against global warming.
Emissions derived from construction materials are an issue that we need to address throughout the entire supply chain of development and construction. Accordingly, we will deepen our collaboration with architectural design companies, construction companies, construction material manufacturers, and other stakeholders in an effort to reduce these emissions.
Furthermore, for future emissions from the use of real estate purchased by customers, we are working to introduce renewable energy in such real estate in the same manner as we are doing via our Scope 1 and Scope 2 initiatives at Company-owned properties. We are also taking steps to reduce per-unit emissions via the introduction of energy-efficient equipment. In these ways, we are working to reduce overall emission amounts. Please see the following for details on the CO2 emissions reduction targets of Mitsubishi Estate Residence Co., Ltd., which handles condominium sales.
Mitsubishi Estate Residence CO2 Emissions Reduction Strategy (Japanese only) (PDF 1.3MB)
Accelerating the Transition to Renewable Energy Sources to Achieve RE100
Accelerating the Transition to Renewable Energy Sources to Achieve RE100
The Mitsubishi Estate Group has been actively introducing renewable energy since FY2021 to achieve RE100. In FY2022, the rate of renewable electricity reached approximately 50% as a result of transitioning to electricity derived from renewable sources at almost all of the approximately 50 Company owned office buildings and commercial facilities*1 located in Tokyo and Yokohama, as well as Company-owned buildings and facilities in Hiroshima and Sendai. The renewable electricity introduced by the Group complies with RE100, combining green electricity and FIT non-fossil-fuel energy certificates with tracking information. Since the buildings will be powered entirely by renewable electricity.*2 the tenants of said buildings are effectively deemed to be using renewable electricity.
- “Company-owned buildings” refers to buildings and commercial facilities of which the Company owns a 50% equity stake or higher, excluding buildings owned in the capital-recycling business and buildings slated to be redeveloped. Regarding buildings and commercial facilities of which the Company owns less than a 50% equity stake, the Company intends to introduce renewable energy-based electricity at certain properties in collaboration with building operators and other parties.
- Electricity supplied by gas cogeneration systems, etc., is generated using carbon-neutral city gas.
See the following for the list of building introducing renewable energy.
Promoting ZEB and ZEH in New Buildings and Rental Apartments to Reduce Environmental Impact
(Tentative name) Osaka Abeno Showa-cho 3-chome Project
(Tentative name) Uchi-Kanda 1-chome Project
Mitsubishi Estate acquired its first ZEB Ready (office category) certification for a high-rise tenant office building, tentatively called the Uchi-Kanda 1-chome Project, which is scheduled for completion at the end of November 2025. The energy conservation measures employed in this project are tested at the Group’s headquarters to ensure they are energy efficient and facilitate a comfortable environment. Starting with this property, the Group aims to achieve high environmental performance in line with ZEB requirements for all new buildings to be developed. Furthermore, in February 2023 Mitsubishi Estate Residence started construction on (tentative name) the Osaka Abeno Showa-cho 3-chome Project,*1 the first rental apartment building in the Kansai region to meet ZEH standards. In addition to meeting ZEH-M Oriented standards, the apartment building will use solar panels to generate electricity used in communal areas. These initiatives are part of Mitsubishi Estate Residence’s goal to meet or exceed the ZEH-M Oriented Standard in new condominiums and new rental apartments under its CO2 emissions reduction strategies (formulated in January 2022). The entire Group will work together to reduce the environmental impact of its buildings and to provide new value.
- This project falls under a basic agreement and general planning subcontracting agreement between ENEOS Corporation and Mitsubishi Estate Residence. The scheme designates ENEOS as the primary owner, while Mitsubishi Estate Residence is responsible for the project’s design and other specifications as the general planner.
Developing Logistics That Facilities That Proactively Advance Initiatives for Reducing Environmental Impact
Developing Logistics That Facilities That Proactively Advance Initiatives for Reducing Environmental Impact
Mitsubishi Estate has adopted a general policy for the Logicross series of obtaining Building-Housing EnergyEfficiency Labelling System (BELS)* certification for all logistics facilities since the November 2020 development of Logicross Ebina. Completed in November 2022, Logicross Osaka Katano obtained a five-star rating, the highest under the BELS certification system. In addition, Logicross Zama Komatsubara, completed in March 2022, obtained Zero Energy Building (ZEB) certification, a first for Mitsubishi Estate, by utilizing an in-house consumption scheme using electricity generated at the facility through solar panels.
- A system established by the Ministry of Land, Infrastructure.Transport and Tourism to label energy-efficiency performance of new and excising buildings.
Logicross Zama Komatsubara
