Mitsui Fudosan Obtains Highest Rank of “5 Stars” for the second consecutive year in GRESB Real Estate Assessment “Development Benchmark”
October 30, 2024
Mitsui Fudosan Co., Ltd.
Tokyo, Japan, October 30, 2024 – Mitsui Fudosan Co., Ltd., a leading global real estate company headquartered in Tokyo, announced today that it obtained the rank of “5 Stars” for the second consecutive year for the GRESB Development Benchmark in the GRESB Real Estate Assessment conducted in 2024. It obtained the rank of “4 stars” for the GRESB Standing Investment Benchmark.
In our company group, based on the meaning of its “& mark,” “to generate new value with society through cooperation, coexistence and co-creation, we forge ahead, innovating,” the Mitsui Fudosan Group views the “creation of social value” and the “creation of economic value” as two wheels of a cart. Accordingly, we believe to connect the creation of economic value to generate an even greater social value. Going forward, our group will continue to actively work towards realizing a sustainable society.
■ About the Assessesment results
- GRESB Development Benchmark (assesses of new development and major renovation) … 5 Stars
- GRESB Standing Investment Benchmark (assesses of standing investment management) … 4 Stars
■ About GRESB
GRESB is an annual benchmarking assessment to measure the ESG (Environmental, Social and Governance) integration of real estate companies and funds, as well as the name of the organization which runs the assessment. It was founded in 2009 by a group of major European pension funds who played leading roles in launching Principles for Responsible Investment (PRI).
The GRESB Real Estate Assessment is distinguished by its comprehensive assessment of sustainability efforts of real estate companies and REITs, etc., and not of individual properties.
There are currently about 150 Investor members who utilize GRESB data in the selection of investees and dialogues with such investees. Even in Japan, GRESB Assessment results are used by several institutions including the Government Pension Investment Fund (GPIF). In the GRESB Real Estate Assessment conducted in 2024, 2,223 real estate companies and funds from around the world - both listed and non-listed -participated.
■ Sustainability in the Mitsui Fudosan Group
Based on the meaning of its “& mark,” “to generate new value with society through cooperation, coexistence and co-creation, we forge ahead, innovating,” the Mitsui Fudosan Group views the “creation of social value” and the “creation of economic value” as two wheels of a cart. Accordingly, we believe that the creation of social value leads to the creation of economic value, and that this economic value then creates even greater social value.
Moreover, we identified six Group Materiality priority issues when formulating our new management philosophy in April 2024. These Group Materiality priority issues are (1) Contribute to industrial competitiveness, (2) Coexist with the environment, (3) Health and Vitality, (4) Safety and security, (5) Diversity and inclusion, and (6) Compliance and governance. The Mitsui Fudosan Group will work to address each of the materialities through its core business activities and contribute to the promotion of sustainability.
(References)
・ Group Management Philosophy and Long-Term Vision
https://www.mitsuifudosan.co.jp/english/corporate/innovation2030/
・ Group Materiality
https://www.mitsuifudosan.co.jp/english/esg_csr/approach/materiality/
* The initiatives outlined in this release are designed to help address the following two Sustainable Development Goals (SDGs).
