Environmental, Social and Governance Initiatives

Environmental Initiatives

Setting Targets (KPI) for Energy Consumption and Greenhouse Gas (GHG) Emissions

Hulic Reit, Inc. (Hulic Reit) and Hulic REIT Management Co., Ltd. (Hulic REIT Management) are working to reduce the carbon footprint for the entire portfolio to promote energy conservation and measures for prevention of climate change.
Environmental measures are promoted through investment and management operations by implementing a PDCA cycle of regular performance tracking, analysis and execution of measures to achieve reduction targets (KPI) for energy consumption and GHG emissions. Specifically, activities to raise awareness among tenants, utilization of renewable energy, introduction of energy-efficient facilities and equipment, and other efforts are made to reduce GHG emissions.

(1)Targets (KPI)

We have set targets (KPI) for and monitor the performance of the following key indicators.

Energy Consumption
Target (KPI)

The target (KPI) is reduction of energy consumption intensity for the entire portfolio by 25% relative to the actual figures for 2018 by the end of 2030.

GHG Emissions
Target (KPI)

The target (KPI) is reduction of greenhouse gas emissions intensity for the entire portfolio by 30% relative to the actual figures for 2018 by the end of 2030.


Actual Figures (Entire Portfolio) (Note 1) (Note 2)
■Energy Consumption
Intensity reduction rate relative to 2018
  • Energy consumption
  • Energy use intensity
■GHG Emissions (Note 3)
Intensity reduction rate relative to 2018
  • GHG emissions
  • GHG emissions intensity
  • The following is the scope of subject properties for each year in the calculation of actual figures (entire portfolio). The same applies hereinafter.
    • Subject properties are those held throughout the year (limited to properties for which data is available).
    • For the properties that Hulic Reit holds under co-ownership, calculations are based on the figures equivalent to the co-ownership interest held by Hulic Reit at the beginning of each year.
  • The actual figures have been verified by a third-party organization.
  • GHG emissions are calculated by multiplying energy consumption by the factor, etc. in accordance with the Ministry of the Environment’s “GHG Emissions Accounting, Reporting and Disclosure System.”

Setting targets (KPI) for the percentage of properties that will have acquired green building certification

Hulic Reit and Hulic REIT Management are promoting proactive acquisition of third-party green building certification (Note) with the intention of raising the reliability and objectivity of the achievements of initiatives for reducing environmental footprint and, at the same time, enhancing building value over the medium to long term.

  • One in which a third party certifies the initiatives, performance, etc. of a building in reducing environmental footprint, enhancing comfort for users, etc.

(1)Targets (KPI)

We have set targets (KPI) and keep up efforts for acquisition of green building certification for portfolio properties.

Green Building Certification Acquisition Rate
Target (KPI)
  • Of entire portfolio, percentage of properties that will have acquired green building certification (Note 1):

    50% or more by end of 2025 (based on number of properties (Note 2))

  • Of Tokyo Commercial Properties, percentage of properties that will have acquired green building certification:

    60% or more by end of 2025 (based on number of properties)

  • Refers to certification by a third-party certification body, such as DBJ Green Building Certification, CASBEE, BELS, and JHEP Certification. The same applies hereinafter.
  • In the calculation of the percentage of properties that will have acquired green building certification, the properties subject to calculation do not include properties for which ownership is of the land interest only. Even if a single property will have acquired several green building certifications, it is counted as 1 property. The same applies hereinafter.


Of the properties held by Hulic Reit, the actual percentage of properties that have acquired green building certification (based on number of properties) is as follows:

  • Entire portfolio
  • Tokyo Commercial Properties
Promotion of Energy Conservation and Climate Change Confermeasures (2.637MB)
(1)Targets (KPI)
 ■Energy Consumption
 ■GHG Emissions
(3)Key Utilization of Energy-Conservation and Power-Saving Equipment at Portfolio Properties
 ■Adoption of LED Lighting
 ■Adoption of Photovoltaic Equipment
 ■Effective Utilization of Subway Seep Water
  ・HVAC system utilizing subway seep water
 ■Adoption of Natural Ventilation System
 ■Adoption of Natural Lighting System
 ■Adoption of Greening System
  ・Rooftop greening system to block direct sunlight and thereby reduce HVAC load
  ・Wall greening system to contribute to combating the heat island effect through transpiration
  ・Greening of Facilities
(4)Environment Friendly Initiatives
 ■Collaborative Initiatives with Tenants
  ・Green Lease Agreement
 ■Collaborative Initiatives with Property Management Companies
 ■Assessment of Risks When Acquiring Properties
Promotion of Proactive Acquisition of Green Building Certification (1.935MB)
(1)Targets (KPI)
 ■Green Building Certification Acquisition Rate
 ■DBJ Green Building Certification
 ■CASBEE for Real Estate Certification
 ■CASBEE for Wellness Office Certification
 ■JHEP Certification
Circular Economy Practices (Effective Utilization of Water Resources, Waste Reduction, Etc.) (499KB)
(1)Effective Utilization of Water Resources
 ■Examples of Water-Saving at Portfolio Properties
(2)Waste Reduction
 ■Examples of Waste Reduction at Portfolio Properties or Hulic REIT Management
Urban Development Initiatives (495KB)
 ■Main Support Received From Sponsor - Asset Circulation Model

Society Initiatives

Enhancement of Customer (Tenant/User) Satisfaction (1.024MB)
(1)Specific Initiatives
 ■Acquisition of CASBEE for Wellness Office Certification for Hulic Toranomon Building
 ■Implementation of Tenant Satisfaction Surveys
 ■Implementation of Initiatives in Consideration for the Well-Being of Customers
 ■Implementation of Initiatives in Consideration for the Safety of Customers
  ・Implementation of Safety Measures
  ・Installation of Emergency Supplies in Elevators and AEDs
 ■Implementation of Initiatives in Consideration for the Comfort of Customers
  ・Implementation of Renovation Work in Consideration for the Comfort of Customers
  ・Inviting Food Trucks
  ・Introduction of Digital Signage
Disclosure of Information to and Dialogue with Stakeholders (284KB)
(1)Specific Initiatives
 ■IR Activities in Fiscal 2020
Motivating Work Environment (Nurturing of Human Resources, Diversity, Etc.) (33KB)
(1)Basic Approach to Recruiting and Training Personnel
(2)Specific Initiatives
 ■Human Resources Development
  ・Training Programs
  ・Support for Obtaining Qualifications
  ・Periodic Career Interviewing
 ■Work-Life Balance
  ・Employee Satisfaction Survey (President Questionnaire)
  ・Employee Benefits
  ・Office Environment Improvements
  ・Enhancement of Productivity
  ・Initiatives for Prevention of the Spread of the Coronavirus
  ・Points of Contact for Employees
  ・Breakdown of Employees of Hulic REIT Management
Contribution to Local Communities (714KB)
(1)Specific Initiatives
 ■Facilities that Link Community Information and People (Ochanomizu Sola City)
 ■Contributions to Revitalizing Region and Improving Convenience (Hulic Asakusabashi Building)
 ■Participation in Community Cleanup Activities
Hulic Group’s Social Contribution Activities (442KB)
(1)Social Contribution as a Company
 ■Hulic Student Idea Competition
 ■Hosting Summer Festivals and Donating of a Portable Shrine
 ■Making the Company’s Nursery Facilities Available to Local Community
 ■Support for Single-Parent Households
 ■Hulic Scholarship Program for Training of Welfare Caretakers
(2)Supporting Employees to Participate in Social Contribution Activities
 ■Satoyama Conservation Activities

Governance Initiatives

Corporate Governance PDF (91KB)
(1)Hulic Reit’s Corporate Governance
 ■Hulic Reit’s Governance
 ■Executive Officers and Supervisory Officers
  ・Executive Officers and Supervisory Officers in Office and Their Terms of Office
  ・Criteria for Selecting Executive Officers and Supervisory Officers
 ■Management Fees, Etc.
  ・Remuneration for Officers and the Accounting Auditor
  ・Asset Management Fee
(2)Hulic REIT Management’s Corporate Governance
 ■Breakdown of Full-Time Board Members and Employees at Hulic REIT Management
 ■Remuneration System for Employees and Officers of Hulic REIT Management
 ■Remuneration for Officers of Hulic REIT Management: Introduction of Performance-Linked Compensation
 ■Introduction of Investment Unit Ownership Program for Officers and Employees
(3)Initiatives for Aligning Unitholder Return with the Interests of the Hulic Group
 ■Investment Support from the Hulic Group (“Same-Boat Investment”)
 ■Co-Ownership of Properties with the Sponsor
Compliance PDF (38KB)
(1)Fundamental Approach to Compliance
(2)Compliance Structure
 ■Compliance Committee
 ■Compliance and Risk Management Department and Compliance Officer
 ■Investment and Management Decision-Making Process and Prevention of Transactions Involving Conflict of Interest
 ■Overview of Decision-Making Procedure for Acquisition, Sale, Leasing and Management of Managed Assets in Interested Party Transactions
 ■Adoption of Voluntary Rules to Prevent Transactions Involving Conflict of Interest
 ■Establishment of Compliance Rules and Compliance Manual, and Putting Such into Practice
 ■Implemention of Regular Internal Auditing and Monitoring System (Including the Involvement of Board of Directors)
 ■Compliance Training and Raising Awareness of Compliance
 ■Counteracting Anti-Social Forces
 ■Measures to Prevent Bribery and Corruption
 ■Response in the Event of Accidents, Etc.
 ■Compliance Hotline (anonymous reporting and consultation are possible)
(3)Customer-Oriented Business Conduct
 ■Policy for Customer-Oriented Business Conduct
Risk Management PDF (23KB)
(1)Fundamental Approach to Risk Management
(2)Risk Management Structure
 ■Establishment of Risk Management Rules and Risk Management Manual, and Putting Such into Practice
 ■BCP Measures
 ■Confirmation of the Safety of Employees and Officers
 ■Information Security
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