Environment (Climate Change and the Natural Environment)
Governance
Within the Group, the president and representative director of Nomura Real Estate Holdings, who also serves as the Group CEO, is the person responsible for promoting environmental initiatives across the entire Group. The Sustainability Committee (chaired by the Nomura Real Estate Holdings president and representative director cum Group CEO and comprised of directors from Nomura Real Estate Holdings and its Group companies) deliberates and decides on related policies and action plans. In addition, we set goals for the key issues of decarbonization, biodiversity and circular design, and we monitor our progress towards those goals.
In addition, the Environmental Subcommittee (overseen by, among others, the officer in charge of quality management and architectural design) has been established as a subordinate organization of the Committee. Furthermore, in May 2019, we signed the United Nations Global Compact and, based on the principles of the initiative, support a precautionary approach to environmental issues, including climate change mitigation, and we are actively fulfilling our responsibilities regarding environmental issues.
Environmental Subcommittee
Consists of members from the architecture and product design-related departments at Nomura Real Estate Development, the environmental technology-related departments at Nomura Real Estate Partners, and the Sustainability Management Department, and meets as needed. In fiscal 2023, it held three meetings to mainly discuss reducing CO2 emissions and using renewable energy.
Strategy
Through urban development and providing products and services that leverage property development and property-related services, the Company will contribute to reducing CO2 emissions to address climate change as a shared international concern. As such, we have identified decarbonization, biodiversity, and circular design as our three priority issues (materialities) and will promote them Company-wide.
In addition, the Group has, to date, been actively participating in international initiatives, from obtaining SBT certification (35% reduction compared to FY2019) and endorsing the TCFD to joining the RE100, and we intend to continue playing an active role in such initiatives.
Risk Management
Materiality-specific Risk Management
Risk management in decarbonization
- Scenario Analysis
- Key themes for solving issues
- Participation in climate change-related initiatives
- Business strategy for decarbonization
Risk management in biodiversity
- Business-specific risk assessment
- Acquisition of biodiversity certifications
- Consideration for the surrounding environment
Indicators and Goals
Key performance indicators
- CO2 emissions: reduce by 60% in Scope 1, 2 and reduce by 50% in Scope 3 (compared to FY2019)
- Energy conservation performance indicators in new buildings: Maintain ZEH/ZEB-oriented standards
- Develop timber-based buildings: Carbon storage amount: 10,000 t-CO2/year
- Obtain biodiversity certification
- Initiatives to promote building longevity: Implementation rate of the Company’s own standards: 100%
- Promote waste reduction and increase recycling rate: Rate of reducing industrial waste: 20%
Goals
| Climate change and natural environment | Helping to address the urgent international issue of CO2 emissions reduction and contributing to the conservation of biodiversity and the realization of a recycling-oriented society, which contributes to CO2 reduction | |
|---|---|---|
| Decarbonization | Initiatives in “energy saving,” “low-carbon business,” and “shift to renewable energy” Target: 60% CO2 emissions reduction in Scopes 1 and 2, and 50% CO2 emissions reduction in Scope 3 by 2030 compared to FY2019. |
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| Biodiversity | By restoring the forest cycle in Japan, contribute to CO2 absorption and to the natural environment through urban afforestation and forest preservation, thus enabling rich biodiversity | |
| Circular design | Contribute to a decarbonized society and a circular economy through urban development and service provision focused on assuring longer property lives, recycling, and resource sharing | |