Mitsui Fudosan Establishes the Mitsui Fudosan Group Biodiversity Policy
- Formulating a Commitment Endorsing the Kunming-Montreal Global Biodiversity Framework -
April 13, 2023
Mitsui Fudosan Co., Ltd.
Tokyo, Japan, April 13, 2023 – Mitsui Fudosan Co., Ltd., a leading global real estate company headquartered in Tokyo, announced today that it established the Mitsui Fudosan Group Biodiversity Policy on March 31, 2023. With the understanding that considering its impact on biodiversity on a global scale is a key management issue, the Group engages in efforts to protect biodiversity throughout its business activities while also considering the impact that its supply chains have on biodiversity.
In the Mitsui Fudosan Group’s urban development business, ecosystems are something that must be protected at all costs. In addition, natural environments which are home to diverse living organisms provide places for enjoyment and relaxation in the city, and as such they also add significant value to urban spaces. Mitsui Fudosan has joined the 30by30 Alliance, which aims to effectively conserve at least 30% of the Earth’s land and oceans by 2030 as a sound ecosystem, and is also involved in protecting natural forests with consideration toward biodiversity in the roughly 5,000 hectares of forest it owns in Hokkaido, and sustainable forestry in its man-made forest. Additionally, in the Jingu Gaien redevelopment, we will preserve four rows of ginkgo trees, and also plan diverse tree planting, and currently plan to increase the number of trees at the site from 1,904 to 1,998 trees, which will increase the ratio of greenery from the current status of approximately 25% to approximately 30%. We plan to circulate greenery by replacing trees with young trees over the next 100 years.
The Group’s development of real estate and extraction of natural resources for use as building materials in the supply chain can alter ecosystems and in turn negatively impact biodiversity. As such, we have positioned our impact on biodiversity as a key management issue, and as part of the Group Environmental Policy to promote a broad and comprehensive range of environmental initiatives, including the protection of biodiversity, have established the Mitsui Fudosan Biodiversity Policy.
Through this policy, we endorse the Kunming-Montreal Global Biodiversity Framework formulated in December 2022, and support the vision of ”living in harmony with nature“ and concepts such as Nature Positive*. Looking ahead, in addition to making every effort to avoid any negative impact on biodiversity caused by our businesses or supply chains, we will strive to keep any unavoidable impact to a minimum. We will proactively disclose information on initiatives such as these while referring to the Taskforce on Nature-related Financial Disclosures (TNFD) framework, a tool for the disclosure of information on nature-related risks and opportunities.
*Nature Positive is the concept of halting and reversing biodiversity loss in order to set nature on the path to recovery.
Upper: Rows of ginkgo trees at Jingu Gaien, lower left: Tokyo Midtown Hibiya, lower right: NEMU RESORT
■Examples of the Group’s biodiversity initiatives
- Tokyo Midtown Hibiya/Tokyo
We have also been involved in the greenery networking and networking of habitats for birds and other wildlife in the Hibiya area by actively incorporating the same local varieties of trees as the adjacent Hibiya Park located across the road, to ensure harmony with the park's lush greenery, and striving for integration with the greenery in the park. In addition to planting in exterior structures and rooftops, the Park View Garden (sixth floor), Sky Garden (ninth floor) and other amenities provide approximately 2,000m2 of green space (greening rate of 40%).
- Fukutoku Shrine, Fukutoku Garden/Tokyo
Under the Nihonbashi Revitalization Plan in unison with the private sector, public sector, and local community under the concept of ”preserving and revitalizing the heritage while creating the future,“ we rebuilt the shrine building of the Fukutoku Shrine, a community hub in Nihonbashi. We also improved Fukutoku Garden, a green gathering space of over 1,000m2 adjoining the shrine. This provides a place of rest and bustle for locals and visitors.
- NEMU RESORT/Mie
At NEMU RESORT, a project has been underway since fiscal 2012 to convert a roughly two-hectare coastal plot of under-utilized property in the Satoyama Suisei-en park (abandoned land) into a tidal wetland, and after restoration, host various creatures such as mullets, black seabream, kingfishers, ducks, Japanese killifish, and beetles, depending on the season. We also strive to provide customers with the opportunity to reevaluate their coexistence with the natural environment by walking around Nemu’s vast site and discovering creatures that are rarely encountered and interacting with nature.
- Halekulani Okinawa/Okinawa
In 2021, we launched the marine environment conservation project Coral Nurturing Program to protect marine environments such as coral reefs. We give lectures on the rich connections between coral reefs and marine life and marine environment conservation. All profits from eco bags made from recycled PET bottles that are sold in the hotel’s Halekulani Boutique are used to fund this project.
- Jingu Gaien/Tokyo
In the Jingu Gaien redevelopment, we will preserve four rows of ginkgo trees, and also plan diverse tree planting, and currently plan to increase the number of trees at the site from 1,904 to 1,998 trees, which will increase the ratio of greenery from the current status of approximately 25% to approximately 30%. We plan to circulate greenery by replacing trees with young trees over the next 100 years.
■Mitsui Fudosan Group’s biodiversity policy
- In addition to making every effort to avoid any negative impact on biodiversity caused by our businesses or supply chains, we will strive to keep any unavoidable impact to a minimum.
- To increase our positive impact on biodiversity, we will engage in initiatives to restore and regenerate biodiversity and nature, and aim to eliminate any new net negative impacts caused by our business activities (no net loss).
- When conducting business in locations that are near important biodiversity areas, we will apply the mitigation hierarchy by first working to avoid any negative impact, then minimizing any unavoidable impact, before finally offsetting any remaining impact through restoration and regeneration activities.
- We will fully support the "living in harmony with nature" vision of the Kunming-Montreal Global Biodiversity Framework, a global target to achieve the goals of the UN Convention on Biological Diversity, as well as the concept of Nature Positive.
2．Assessment and Monitoring of Risks and Opportunities
- We will assess the impacts and dependencies on nature, including biodiversity, that our businesses and supply chains have, and also assess and appropriately respond to those risks and opportunities.
- Furthermore, we will establish indicators and targets as necessary and monitor the results to accurately manage these risks and opportunities.
3．Stakeholder Engagement and Information Disclosure
- We will work with our suppliers, experts, NGOs, and other external stakeholders as necessary.
- We will proactively disclose information on our initiatives in line with this policy.
4．Education and Training
- To ensure effective implementation of this policy, we will implement appropriate education and training to enhance understanding of the relationship between our businesses and nature/biodiversity among our executives and employees.
- ESG report:https://www.mitsuifudosan.co.jp/english/esg_csr/environment/06.html
■Mitsui Fudosan Group’s Contribution to SDGs
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.
Additionally, the Group formulated the following Group guidelines related to ”Realize a Decarbonized Society“ and ”Diversity & Inclusion Promotion“ in November 2021. The Mitsui Fudosan Group will continue to work toward solving social issues through neighborhood creation.
Group Action Plan to Realize a Decarbonized Society
Diversity & Inclusion Promotion Declaration and Initiative Policy
* The initiatives covered in this press release are contributing to two of the UN’s SDGs.
|Life Below Water
|Life on Land