External Evaluations, Initiatives and Affiliated Organizations
External Evaluation
Inclusion in the ESG Stock Index Used by the Japanese GPIF
Inclusion in the MSCI Japan ESG Select Leaders Index
Nomura Real Estate Holdings has been selected for inclusion in the MSCI Japan ESG Select Leaders Index. This index is composed of selected companies with outstanding ESG initiatives from among the companies that make up the MSCI Japan IMI Index.
Inclusion in the FTSE Blossom Japan Index
Nomura Real Estate Holdings has been selected as a constituent of the FTSE Blossom Japan Index. The index comprises a selection of companies with outstanding ESG initiatives based primarily on absolute ESG scores and ratings from among the approximately 1,400 companies that make up the FTSE All-Cap Japan Index.
Inclusion in the FTSE Blossom Japan Sector Relative Index
Nomura Real Estate Holdings has been selected as a constituent of the FTSE Blossom Japan Sector Relative Index. This index is composed of companies selected from the FTSE Japan All Cap Index constituents (approximately 1,300 companies) that demonstrate outstanding ESG initiatives, primarily based on a relative evaluation within their industry.
Inclusion in the MSCI Japan Empowering Women Index
Nomura Real Estate Holdings has been selected as a constituent of the MSCI Japan Empowering Women Index. The index comprises a selection of companies with outstanding gender diversity from among the companies that make up the MSCI Japan IMI Top 700 Index.
Inclusion in the Morningstar Japan ex-REIT Gender Diversity Tilt Index
Nomura Real Estate Holdings has been selected for inclusion in the Morningstar Japan ex-REIT Gender Diversity Tilt Index, which has been used by GPIF as a gender diversity index for domestic equities since March 2023.
The index is designed to help investors invest in companies that have embedded gender diversity policies in their corporate culture and are committed to equal opportunities for employees regardless of gender. The Company is classified as Group 1, the highest of the five ranks.
Inclusion in the S&P/JPX Carbon Efficient Index
Nomura Real Estate Holdings has been selected for inclusion in the S&P/JPX Carbon Efficient Index, a thematic index (environmental) among the ESG indices adopted by GPIF.
Inclusion in the FTSE4Good Index Series
Nomura Real Estate Holdings has been selected from among about 1,300 candidates for inclusion in the FTSE4Good Index Series, an index run by FTSE Russell, a global company that evaluates corporate ESG performance.
CDP Climate Change
Nomura Real Estate Holdings has responded to the CDP* climate change questionnaire since fiscal year ended March 2020 to promote climate change initiatives and enhance the transparency of information disclosure. In fiscal year ended March 2025, it received an A score. The company also began responding to the questionnaire for its Nomura Real Estate Master Fund in fiscal year ended March 2024 and received a B score in fiscal year ended March 2025.
- *The CDP is an NGO that was established in the U.K. in 2000 and operates a global environmental information disclosure system for investors, corporations, cities, nations and regions to manage environmental impacts.
Inclusion as a CDP Supplier Engagement Leader
Nomura Real Estate Holdings was selected as a Supplier Engagement Leader, the highest rating in the CDP Climate Change Supplier Engagement Assessment in fiscal year ended March 2025. This assessment evaluates how companies work effectively with suppliers to address climate change challenges.
SNAM Sustainability Index
Nomura Real Estate Holdings has been selected for inclusion in the SNAM Sustainability Index. Established by Sompo Japan Nipponkoa Asset Management (SNAM), the index is a socially responsible investment (SRI) fund for multiple pension funds and institutional investors that invests in a wide range of companies with high environmental, social, and governance (ESG) ratings. It is designed to contribute to the asset building of long-term investors by assessing corporate value from a long-term perspective based on financial and non-financial information.
Commendations on Environmental Activities
Certification and Registration to Eco-Action 21 (Environmental Management System)
Eco-Action 21 is Japan’s unique environmental management system (EMS) established by Japan’s Ministry of the Environment. The Nomura Real Estate Master Fund was the first J-REIT and Nomura Real Estate Private REIT the first privately placed REIT to obtain certification and registration.
GRESB Real Estate Assessment and Public Disclosure Assessment
In the 2024 Global Real Estate Sustainability Benchmark (GRESB)* Real Estate Assessment, the Nomura Real Estate Private REIT received a five-star rating and the Nomura Real Estate Master Fund received a four-star rating. Nomura Real Estate Holdings and the Nomura Real Estate Master Fund received the highest A rating in the Public Disclosure Assessment.
- *An annual benchmark that measures ESG considerations in the real estate sector. Established in 2009 by a group of major European pension funds that spearheaded the UN Principles for Responsible Investment (PRI), GRESB evaluates the sustainability initiatives of real estate companies, REITs, and private real estate funds.
Commendations on Social Activities
Recognized as a “Kenko Investment for Health Stock Selection” and “2025 Outstanding Organizations of KENKO Investment for Health”
Nomura Real Estate Holdings was selected as a Kenko Investment for Health Stock Selection in recognition of its efforts in health and productivity management. Additionally, nine companies – Nomura Real Estate Holdings, Nomura Real Estate Development, Nomura Real Estate Asset Management, Nomura Real Estate Solutions, Nomura Real Estate Life & Sports, Nomura Real Estate Partners, PRIME X, Nomura Real Estate Retail Properties, and Nomura Real Estate Hotels – received “2025 Outstanding Organizations of KENKO Investment for Health (Large Enterprise Category)” recognition, while Nomura Real Estate Heating and Cooling Supply, Nomura Real Estate Wellness, Nomura Real Estate Amenity Services, and First Living Assistance received “2025 Outstanding Organizations of KENKO Investment for Health (SME Category)” recognition. Furthermore, Nomura Real Estate Holdings, Nomura Real Estate Solutions, Nomura Real Estate Development, Nomura Real Estate Asset Management, and Nomura Real Estate Life & Sports have also been certified as “White 500*,” a list of the top 500 companies in the Large Enterprise Category that are recognized for their outstanding health and productivity management.
- *White 500 is a program by the Ministry of Economy, Trade and Industry (METI) and Nippon Kenko Kaigi to recognize companies that implement particularly good health management practices.
Gold, Silver Rating in the PRIDE Index
In the PRIDE Index 2024, which evaluates the initiatives of companies and organizations in relation to LGBTQ+ and other sexual minorities, Nomura Real Estate Holdings, Nomura Real Estate Development, Nomura Real Estate Asset Management, Nomura Real Estate Solutions, and Nomura Real Estate Life & Sports were awarded the Gold rating, and Nomura Real Estate Partners was awarded the Silver rating.
- *The PRIDE Index is a program established in 2016 by work with Pride*, a voluntary organization that supports the promotion and establishment of LGBTQ+-related diversity management, to recognize companies and organizations for their efforts regarding LGBTQ+ and other sexual minorities.
Nomura Group Wins Good Design Award for the 23rd Consecutive Years
The Nomura Real Estate Group won the Good Design Award, Japan’s only comprehensive design evaluation and commendation system operated by the Japan Institute of Design Promotion, for the 23rd consecutive year. In fiscal year ended March 2025, Nomura Real Estate Development received awards for four projects and Nomura Real Estate Life & Sports for one.
Initiatives
Signing of the UN Global Compact
Nomura Real Estate Holdings signed the UN Global Compact in May 2019. We will respect the Ten Principles of the UN Global Compact (in the areas of human rights, labor, environment, and anticorruption) and further promote our sustainability initiatives.
The UN Global Compact
Human Rights
Principle 1: Businesses should support and respect the protection of internationally proclaimed human rights; and
Principle 2: Make sure that they are not complicit in human rights abuses.
Labor
Principle 3: Businesses should uphold the freedom of association and the effective recognition of the right to collective bargaining;
Principle 4: The elimination of all forms of forced and compulsory labor;
Principle 5: The effective abolition of child labor; and
Principle 6: The elimination of discrimination in respect of employment and occupation.
Environment
Principle 7: Businesses should support a precautionary approach to environmental challenges;
Principle 8: Undertake initiatives to promote greater environmental responsibility;
Principle 9: Encourage the development and diffusion of environmentally friendly technologies.
Anti-Corruption
Principle 10: Businesses should work against corruption in all its forms, including extortion and bribery.
Signing of the Principles for Responsible Investment
Nomura Real Estate Asset Management and Lothbury Investment Management, the Group’s UK-based asset management company, endorse the fundamental tenets and have signed the Principles for Responsible Investment (PRI), which advocate addressing environmental, social, and governance issues in investment decisions.
Joining RE100
Nomura Real Estate Holdings, Inc. joined RE100, a global initiative leading the transition to 100% renewable electricity in January 2022.
Acquisition of Science Based Targets (SBT) Certification
Nomura Real Estate Holdings and Nomura Real Estate Asset Management have obtained Science Based Targets (SBT) certification, which is a global initiative for reducing greenhouse gas emissions.
Agreement to Recommendations of the Task Force on Climate-related Financial Disclosures (TCFD)
Recognizing that climate change is an important management issue that will have a significant impact on the continuity of business, Nomura Real Estate Holdings and Nomura Real Estate Asset Management agreed in 2020 to recommendations of the Task Force on Climate-related Financial Disclosures (TCFD) to promote further initiatives. The companies will disclose information in line with the TCFD’s recommendations and contribute to the realization of a sustainable society.
Participation in the Japan Climate Initiative
Nomura Real Estate Asset Management has joined in the Climate Change Initiative, a network for the cross-sectoral dissemination of information and exchange of views among companies, local governments, NGOs, and other organizations engaged in climate change measures.
Signing the Financial Action Principles for the Formation of a sustainable Society (The 21st Century Principles of Financial Action)
Nomura Real Estate Asset Management supports and has signed the Financial Action Principles for the Formation of a Sustainable Society (The 21st Century Principles of Financial Action), a collection of action guidelines for financial institutions wanting to fulfill their responsibilities and roles necessary for creating a sustainable society.
Membership in the UK Green Building Council (GBC)
Lothbury Investment Management is affiliated with and endorses the UK Green Building Council (GBC), an organization that certifies buildings with high environmental performance in terms of energy, water, air-conditioning, and so on.
Participation in the Taskforce on Nature-related Financial Disclosures (TNFD) Forum
In July 2022, Nomura Real Estate Holdings began participating in the TNFD Forum, which was established to support the development of a framework for TNFD, an international initiative to create a framework for appropriately assessing and disclosing the risks and opportunities associated with natural capital and biodiversity.
Participation in the 30by30 Alliance for Biodiversity
In July 2022, Nomura Real Estate Holdings began participating in the 30by30 Alliance for Biodiversity, led by Japan’s Ministry of the Environment, which serves as the secretariat. The purpose of the alliance is to achieve the target of effectively conserving or protecting 30% of land and sea areas by 2030.
Endorsement of the Declaration of Biodiversity by Keidanren
In fiscal year ended March 2020, Nomura Real Estate Holdings announced its endorsement of Keidanren’s Declaration of Biodiversity. Regarding initiatives for biodiversity as an important management issue for the Group, which is involved in real estate development and urban development, the company will continue to promote initiatives that are considerate of the natural environment and ecosystems.
Support for the “Voluntary Action Plan on the Environment for the Real Estate Industry” of the Real Estate Companies Association of Japan
In accordance with the voluntary environmental action plan set forth by its member, the Real Estate Companies Association of Japan, Nomura Real Estate Group supports environmental targets for each of its real estate business activities related to reducing energy consumption, improving energy independence, reducing waste, and preserving biodiversity, and will promote measures to combat climate change by reducing CO2 emissions, thereby promoting measures to combat climate change.
- *Members of the Real Estate Companies Association of Japan: Nomura Real Estate Development Co., Ltd., Nomura Real Estate Solutions Co., Ltd.
Signing the Net Zero Asset Management Initiative (NZAM)
In fiscal year ended March 2024, Nomura Real Estate Asset Management Co., Ltd. became a signatory to the NZAM initiative, an international initiative that aims to achieve net zero emissions for managed assets by 2050 and limit global warming to 1.5°C.
International Documents Supported via Group Policies
Nomura Real Estate Group Human Rights Policy
- International Bill of Human Rights (Universal Declaration of Human Rights, International Covenant on Civil and Political Rights, International Covenant on Economic, Social and Cultural Rights)
- ILO Declaration on Fundamental Principles and Rights at Work
- The Ten Principles of the United Nations Global Compact
- Children's Rights and Business Principles
Nomura Real Estate Group Biodiversity Policy
- Kunming-Montreal Biodiversity Framework