Initiatives to address various issues related to sustainability have attracted increasing attention from the society in recent years. Real estate industry is no exception. Sustainability issues are recognized as mid- to long-term risk factor from investors around the world and some have already included investment corporation’s attitude toward action and track record into investment decision criteria, further heightening the impact.
As the asset manager of MIRAI Corporation, Mitsui Bussan & IDERA Partners Co., Ltd. believes that it is essential to tackle Environment, Society and Governance initiatives so as to realize sustainable society and that those initiatives will lead to mid-to long-term improvement of unitholder value, based on our philosophy that “MIRAI creates the future of the world”. The Asset Manager has already taken initiatives such as obtaining environmental certification for assets under management and sponsoring local events at properties under management. The Asset Manager has also formulated “Sustainability Policy” as the Asset Manager’s basic sustainability policy and will continue to strengthen ESG initiatives based on the policy. The Asset Manger and the MIRAI will pursue to improve the unitholder value of MIRAI through strengthening ESG initiatives as well as appropriate disclosures. We look forward to the continued support and encouragement of our unitholders.
Mitsui Bussan & IDERA Partners Co., Ltd.
Representative Director, President Michio Suganuma
As the asset manager of MIRAI Corporation (hereinafter the “MIRAI”), Mitsui Bussan & IDERA Partners Co., Ltd. (hereinafter the “Asset Manager”) aims to realize sustainable society and manage MIRAI based on the philosophy that “MIRAI creates the future of the world”. The Asset Manager believes that it is essential to tackle Environment, Society and Governance initiatives (hereinafter the “ESG initiatives”) so as to realize sustainable society and that the pursuit of the ESG initiatives will lead to improvement of unitholder value. The Asset Manager has also formulated below “Sustainability Policy” and pursues ESG initiatives based on the policy.
1. Conservation of global environment through environmental management of the portfolio
Through internal environmental management structure, The Asset Manager aims to conserve global environment by appropriately understanding and managing the environmental impact related to the portfolio management. The Asset Manager takes initiatives towards reduction of greenhouse gas emission, efficient use of resources and energy, saving water and utilizing sustainable water sources, and reduction and proper disposal of waste, etc., in addition to thoroughly ensuring adherence to the environment related laws.
2. Consideration to environmental and social risks in asset management process
In acquisition due diligence and monitoring following the acquisition, the Asset Manager considers property’s environmental and social risks such as soil contamination, impact to biodiversity, indoor air quality, equipment and material’s impact to the environment and building safety and its impact to health, etc., and reflects them in investment decision making process.
3. Cooperation with external stakeholders
By developing good relationship through dialogue with external stakeholders such as tenants of assets under management, local communities, property management companies, operators and suppliers, the Asset Manager aims to take initiatives to tackle environmental and social issues together with them, while striving for efficient operation, improved tenant satisfaction, and contribution to development of local communities.
4. Initiatives for the employees
The Asset Manager provides continuous education and career development opportunities for employees aiming to improve professional knowledge and capability while also striving to improve knowledge and understanding on sustainability and ESG. Further, with the understanding that employee’s health is an important asset to the Asset Manager, the Asset Manager aims to create an office environment whereby each employee can continue to work in a healthy and safe manner.
5. Respect for human rights
The Asset Manager does not tolerate human rights infringements such as forced labor, child labor, discrimination and harassment in the business activities and respects basic human rights and labor rights.
6. Disclosure of ESG information and securing transparency
In order to solidify mutual trust with various stakeholders, the Asset Manager discloses ESG related information actively and continuously in a timely and appropriate manner, while striving to obtain external evaluations such as environmental certifications and participating in ESG related initiatives.
7. Maintaining compliance
The Asset Manager ensures compliance with laws, fair transaction, appropriate management of information, prevention of corruption, and prevention of conflict of interest, and conduct the business activity fairly. In addition, through management training and regular internal audit, the Asset Manager strives to strengthen risk management and compliance structure.
8. Responsibility of trustee and consideration to unitholder right
As an asset management company of a listed investment corporation, the Asset Manager responds appropriately to issues such as prevention of conflict of interest, securing transparency in relations to related party transactions, and dialogue with the unitholders of MIRAI, and gives considerations to the unitholder right and fulfills responsibilities as trustee.
Sustainability Management Framework
The Asset Manger has established “Sustainability Committee” to promote ESG initiatives in accordance with Sustainability Policy.
Sustainability Committee is led by the Sustainability Promotion Officer, attended by Executive Directors, General managers and compliance Officer.
As a general rule, Regular meetings are held approximately once every three months to discuss specific ESG targets and measures, as well as various initiatives, while taking into account social conditions and the operating status of the MIRAI.
SDGs Linked to Material Issues (Materiality)
MIRAI and The Asset Manger will contribute to the achievement of SDGs (Sustainable Development Goals) through efforts on the following material issues (materiality).
|Material Issues (Materiality)||Examples||Relevant SDGs|