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2020

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Contributing to Realizing a Carbon-Free Society
Mitsui Fudosan Group Sets Medium- to Long-Term Targets to
Reduce Greenhouse Gas Emissions (GHG)

December 21, 2020
Mitsui Fudosan Co., Ltd.

Tokyo, Japan, December 21, 2020 - Mitsui Fudosan Co., Ltd., a leading global real estate company headquartered in Tokyo, announced today that it has set medium- to long-term targets to reduce greenhouse gas emissions (GHG) for the entire Mitsui Fudosan Group to realize a carbon-free society.

Medium - to Long-Term Targets to Reduce Greenhouse Gas Emissions
Reduce GHG Emissions (*1) by 30% of FY2019 Level
by FY2030 and to Net Zero by FY2050


GHG Reduction Targets

Mitsui Fudosan has positioned reducing the risk of climate change through business activities as a key management issue, as noted in VISION 2025, the Group’s Long-Term Vision formulated in 2018. It is aware of its social mission as a developer carrying out neighborhood creation to contribute to resolving various social issues to successfully establish a sustainable society.

Based on this awareness, Mitsui Fudosan has set a target of net zero emissions of greenhouse gases by fiscal 2050 for the entire Mitsui Fudosan Group. This will create social value that contributes to the realization of a carbon-free society and eventually lead toward enhancement of the Mitsui Fudosan Group’s corporate value. Currently, Mitsui Fudosan has made an application for these targets to the Science Based Targets Initiative (*2), which recommends setting scientifically based targets to achieve the Paris Agreement, a global framework for the reduction of greenhouse gases, and plans to receive recognition in the future.

Up until now, in response to climate change, the Mitsui Fudosan Group has also created neighborhoods and facilities with low energy consumption and reduced emissions of greenhouse gases while implementing services and operating facilities that have a low environmental impact. Going forward, Mitsui Fudosan will move forward proactively on renewable energy-related initiatives while aiming for development with even higher environmental performance. Specifically, it will conclude a comprehensive agreement with TEPCO Energy Partner, Incorporated to make electricity more environmentally friendly through the use of renewable energies in common and tenant-occupied areas of buildings such as offices. Please check the end of the release for details.

Through these initiatives, Mitsui Fudosan will strive to create a sustainable society and raise corporate value, such as by continuing to aim at being carbon-free.

  • GHG emissions: Total volume of SCOPE 1, 2 and 3
    SCOPE 1: Direct emissions from Mitsui Fudosan Group fuel use
    SCOPE 2: Indirect emissions from electricity and heat purchased by the Mitsui Fudosan Group
    SCOPE 3: Indirect emissions from other business activities
    (building construction work, use of real estate sold, etc.)
  • SBT Initiative: A joint global initiative established in 2015 by CDP, the United Nations Global Compact, World Resource Institute and World Wildlife Fund. SBT promotes verification and recognition of greenhouse gas emission reduction targets based on science that private companies set toward achieving the goals of the Paris Agreement.

■ Mitsui Fudosan Group ESG/Sustainability Website

(Lists targets for initiatives related to ESG, including GHG emission reduction, waste recycling ratio, women in management positions ratio and employment rate of people with disabilities)
https://www.mitsuifudosan.co.jp/english/corporate/esg_csr/kpi/

■ Mitsui Fudosan Group’s Contribution to SDGs 

https://www.mitsuifudosan.co.jp/english/corporate/esg_csr/
The Mitsui Fudosan Group aims for a society that enriches both people and the planet under the principles of coexist in harmony with society, link diverse values and achieve a sustainable society, and advances business with an awareness of the environment (E), society (S) and governance (G), thus promoting ESG management. By further accelerating its ESG management, the Group will realize Society 5.0, which the Japanese government has been advocating, and contribute significantly to achieving the SDGs.
* The initiatives covered in this press release are contributing to one of the UN’s SDGs.

Goal 13 Climate Action

■ Reference: Case Studies of Mitsui Fudosan Greenhouse Gas Reduction Initiative

The Mitsui Fudosan Group has been involved in various initiatives to reduce GHG emissions up until now, such as conducting the mega-solar business, and supplying renewable energies like solar power to retail and logistics facilities, and starting to review a plan on leasing wooden office buildings for rent, in addition to smart energy projects that reduce environmental impact at ordinary times and enhance BCP capability during emergencies in the area of Nihonbashi and Toyosu.