The Tokyu Fudosan Holdings Group recognizes that climate change is an important environmental issue that greatly impacts its business activities.
The Tokyu Fudosan Holdings Group recognizes that climate change is an important environmental issue that greatly impacts its business activities. The Group formulated our Sustainable Procurement Policy in January 2020. We promote the efficient use of energy and the use of renewable energy not only in our business activities but also throughout the life cycle of our products and services, and limit the impact of greenhouse gas emissions on climate variability. ( 5. Environmental measures, Tokyu Fudosan Holdings Group Sustainable Procurement Policy)
In 2014, the Intergovernmental Panel on Climate Change (IPCC) released the Fifth Assessment Report (AR5). This report found that warming of the climate system is unequivocal and it is extremely likely that human influence has been the dominant cause of the observed warming since the mid-20th century. Climate change caused by global warming not only causes rising sea levels, but also abnormal weather such as an increase in heavy rains and flooding as well as droughts. The businesses of the Group are not only directly affected by weather conditions, such as snowfall amounts required to operate ski areas, but also indirectly affected as well such as the fact that the worldwide procurement of various supplies required for our businesses may become difficult.
It is based on this awareness that the Group is promoting the more efficient use of energy and the utilization of renewable energy at its business offices as well as the office buildings, commercial facilities and resorts that it owns in an effort to mitigate the impacts that its business activities have on climate change. The development and operation of energy efficient office buildings, commercial facilities and resorts will create business opportunities and enhance the competitiveness of the Group.
We will continue to work with design firms, construction companies, end users and other stakeholders in an effort to realize a low-carbon society and address the issues of climate change and energy consumption.
The Tokyu Fudosan Holdings Group has in place the Tokyu Fudosan Holdings Sustainability Committee, which is chaired by the President
The Tokyu Fudosan Holdings Group has in place the Tokyu Fudosan Holdings Sustainability Committee, which is chaired by the President & Representative Director of Tokyu Fudosan Holdings and co-chaired by the Operating Officer of Tokyu Fudosan Holdings. The committee meets regularly 3 times a year to discuss, plan and confirm results pertaining to material issues, such as compliance, climate change, social contributions, and diversity. In turn, the results of committee deliberations are reported to the Board of Directors, which is led by the President & Representative Director of Tokyu Fudosan Holdings.
Additionally, the Sustainability Council, established as a subcommittee to the Tokyu Fudosan Holdings Group Sustainability Committee, leads relevant management activities across the entire Group.
the Sustainability Council, comprised of environmental managers from each group company, sets group-wide fiscal year targets for greenhouse gas emissions, a major cause of climate change, monitors results and shares information based on a shared policy. This ensures proper reporting under relevant laws and regulations and environmental impacts are reduced through business activities.
In fiscal 2017, the Tokyu Fudosan Holdings Group launched the 2017-2020 Management Plan as stage 2 of its Value Frontier 2020 medium-and long-term management plan. One of the materialities that form the basis for its formulation is the "change in the natural environment". Among them, we regard "climate change" as medium to long-term risk.
・With advanced renewable energy sources and technologies including energy management system becoming available, Tokyu Land Corporation has always been on the lookout for latest trends and technologies to identify and seize business opportunities that climate change presents. One such example is BRANZ City Shinagawa Katsushima, the first condominium in the world with each unit equipped with ENE-FARM, a fuel cell system developed specifically for multi-family residential. Also successfully completed in FY2017 are two multi-family residential projects, one with 11kW-solar power generation system and the other with EV sharing. We are now looking to offer residential with smart home services using cutting-edge energy management system and IoT technology.
・The Energy Conservation Act has been strengthened in recent years and we adhere to the stricter requirements as part of our climate-change risk management. Under the amended Act, we are required to make an effort to reduce annual emissions from our properties including office buildings, commercial facilities, resort facilities and fitness facilities by average of 1%. We renew and renovate our facilities and run routine energy management and energy conservation activities in order to meet the reduction target and other requirements.
Climate change risks and opportunities in our strategy
4℃Scenario & 2℃Scenario
●Society in 4℃ scenario
Worsening natural disasters while transition to low carbon/renewable energy stalled.
●Society in 2℃ scenario
Natural disasters becomes not as worse as 4℃ scenario while ZEB/renewable energy become popular.
a: Costs associated with climate changeWe expect apparent exposure to physical risks associated with climate change by year 2050. We have therefore established a set of expected climate change factors affecting our resort facility business in year 2050, and identified possible risks to the business:
• Decrease in revenue due to unexpected weather conditions including intense rainfalls and typhoons leading to fewer operating days.
• Added restoration cost related to collapsed slopes in the resort facilities caused by unexpected torrential rain.
• Decrease in revenue generated from our ski resorts and other winter sports facilities due to shorter operating period caused by warmer temperature and less snowfall amid global warming.
b: Investment in R&D on climate changeIn order to reduce exposure to GHG emissions and therefore less sensitivity to changes in cost of carbon, we have been advancing our research of and exploring further deployment of renewable energy generation facilities including solar and wind power generations to our commercial and resort facilities.
Tokyu Fudosan Holdings Corporation has agreed to the recommendations of “Task Force on Climate-related Financial Disclosures(TCFD)” established by the Financial Stability Board (FSB).
As a member of the environmental committee of "The Real Estate Companies Association of Japan ”, Tokyu Land Corporation is working on promoting environmental action in the real estate industry. The committee periodically collects excellent efforts by member companies that lead to reduction of environmental burden and sustainable society building . They are used to share information among member companies and to further improve environmental awareness. Furthermore, we actively make proposals to public policies and regulations through “Low Carbon Town Planning Action Plan” or ” Environmental voluntary action plan”etc.
The Group supports and respects the UN Global Compact. In accordance with the 10 principles of the UN Global Compact broken down by the subjects of human rights, labour, environment, and anti-corruption, we are promoting responsible management aimed at contributing to the realization of a sustainable society.
Tokyu Fudosan Holdings Co., Ltd. participated in the “Corporate Value Improvement Promotion Program by Decarbonizing Management” sponsored by the Ministry of the Environment in fiscal 2018, and studied internal carbon prices. Reference : Ministry of Environment HP (Japanese)
Tokyu Land Corporation has established process targets for the development projects it is involved in based on the format of these projects. For example, development projects involving new build condominiums must comply with Insulation Performance Level 4 within the Evaluation Methods and Standards based on the Housing Quality Assurance Act. Also, Tokyu Plaza Ginza, a large-scale commercial facility, will be developed with the same level of performance as quasi-top level place of business recognized for outstanding countermeasures taken against global warming by the Tokyo Metropolitan Government.
●The Tokyu Fudosan Holdings Group aims to reduce CO2 emissions per floor area of our business offices 25% compared to FY 2005 by the FY 2020.
●The Tokyu Fudosan Holdings Group aims to reduce CO2 emissions per floor area of real estate portfolio 25% compared to FY 2005 by the FY 2020.
【Long-term quantified target】
●The Tokyu Fudosan Holdings Group aims to reduce CO2 emissions per floor area of our business offices 30% compared to FY 2005 by FY 2030.
●The Tokyu Fudosan Holdings Group aims to reduce CO2 emissions per floor area of real estate portfolio 30% compared to FY 2005 by FY 2030.
This card shows data on CO2（GHG） emissions of Tokyu Fudosan Holdings Group.
|1 Purchased Goods & Services||21.3||22.9||24.4||559.0||534.4|
|2 Capital Goods||227.0||124.3||112.3||258.9||430.1|
|3 Fuel- and energy-related Activities (not included in scope 1 or scope 2)||18.5||19.5||18.5||19.4||18.9|
|4 Upstream transportation and distribution||0.1||0.1||0.1||0.1||0.1|
|5 Waste Generated in Operations||2.2||2.9||6.1||3.4||3.4|
|6 Business Travel||2.5||2.7||2.7||2.9||3.0|
|7 Employee Commuting||4.6||5.7||5.8||8.8||9.2|
|8 Upstream leased assets||-||10.6||16.3||-||-|
|9 Downstream transportation and distribution||-||-||-||-||-|
|10 Processing of Sold Products||-||-||-||-||-|
|11 Use of Sold Products||545.7||493.5||399.7||443.1||600.2|
|12 End-of-Life Treatment of Sold Products||-||-||-||-||-|
|13 Downstream leased assets||-||-||-||-||-|
This card shows data on energy use of Tokyu Fudosan Holdings Group.
This card shows data on GHG（CO2) emissions and energy consumption of Tokyu Fudosan Holdings Group.
(short-term target year)
(long-term target year)
|Number of target facilities||-||210||192||204||213||216|
・As greenhouse gases other than CO2 are extremely small amounts, CO2 emissions are regarded as greenhouse gas emissions.
・Date cover the scope of Tokyu Fudosan Holdings and six operating companies.
・One overseas property was transferred to a resort facility from 2018.
●Reduction of CO2 emissions / Reduce energy consumption
at resort facilities
(Ⅱ) Achievement status on quantified reduction targets
SDGs in the
Renewable Energy Business
Tokyu Fudosan Holdings has developed a wide range of businesses while always confronting social issues. In the field of renewable energy, we have been working on the brand "ReENE" since we entered the solar power business in Kagawa in 2014.We are steadily expanding our business with the keywords "contribution to decarbonization," "energy self-sufficiency rate improvement," and "regional contribution,", and became a member of "RE100" in April 2019 .In addition, we have positioned this business as one of the new investment targets in the “Expansion of the area of the recycling-based reinvestment business,” which is one of the growth strategies of the medium-term management plan.The number of solar power plants owned and operated, including those under development, has increased to 50 locations throughout Japan, and the rated capacity has grown to over 1 GW (= 1,000 MW).
We started a capital and business alliance with Renewable Japan Co., Ltd., a renewable energy company in 2017, and have continuing to strength our partnership. We currently are also a sponsor of Renewable Japan Energy Infrastructure Fund, Inc.
ReENE Matsumae Wind Power Plant, (Matsumae-gun, Hokkaido) the first wind power station with a storage battery in Hokkaido, started operation in April 2019. And, Suzuran Kushiro cho Solar power plant, (Kushiro-gun, Hokkaido) which is one of the largest power stations in Japan with a storage battery, has been in operation since February 2020.We plan to expand our assets to include not only the solar and wind power generation business, but also the biomass power generation business and the next-generation renewable energy business in the future.
Renewable energy is positioned as the main power source in Japan, and as the needs and social importance of clean energy increase, power generation companies and related businesses are required to have various functions and specialties.Therefore, Tokyu Land Corporation established the "Renewable Energy Association for Sustainable Power supply (REASP)" in December 2019 jointly with five companies including Renewable Japan Co.,Ltd. We will continue to expand our business by creating a system for stable supply over the long term while discussing with related ministries and agencies.
Renewable Energy Business Map
Shin-Meguro Tokyu Building
The Group works to reduce CO2 emissions in the office buildings it manages through the installation of
The Group works to reduce CO2 emissions in the office buildings it manages through the installation of energy-saving equipment and in cooperation with its tenants. By implementing these initiatives, the Group aims to serve a pioneering role in achieving the numerical energy conservation targets for new office buildings stipulated in the environmental action plan formulated by the Real Estate Companies Association of Japan.
At the Shin-Meguro Tokyu Building developed by Tokyu Land Corporation, we have achieved visualization through the installation of BEMS (building energy management system) monitors on each floor that allow tenants to confirm their energy consumption and also reduced energy use for the entire building through means such as the installation of natural ventilation systems and automatic dimming equipment.
Branz City Shinagawa Katsushima
The 356-unit Branz City Shinagawa Katsushima is a large condominium building in which the collective strengths of the Tokyu Group,
The 356-unit Branz City Shinagawa Katsushima is a large condominium building in which the collective strengths of the Tokyu Group, including Tokyu Land Corporation and Tokyu Community Corporation, are being used to make it more energy efficient.
As a result of efforts including the adoption of the world's first home use fuel cell for condominiums called Enefarm in all housing units and the installation of HEMS as a system the enables the visualization of home power consumption, it has been estimated that CO2 emissions have been reduced by at least 60% and the highest S Rank (self-evaluation) has been acquired using CASBEE (Comprehensive Assessment System for Built Environment Efficiency).
We will verify CO2 reduction results and provide feedback to residents as we aim for even further energy efficiency. In recognition of these efforts, the project was selected as a Low-CO2 Residence and Building Leadership Project by the Ministry of Land, Infrastructure and Transport.
The Group uses photovoltaic energy, wind power and other forms of natural energy to power various businesses.
The Group uses photovoltaic energy, wind power and other forms of natural energy to power various businesses.
Solar power generation systems have been introduced to resort facilities, specifically to the Palau Pacific Resort and Tokyu Harvest Club Atami Izusan & VIALA. In addition, at the commercial facility Tokyu Plaza Omotesando Harajuku, two wind turbines have been installed on the rooftop to foster the use of natural energy.
TOKYU COMMUNITY CORP. has acquired “Nearly ZEB” certification of Building-Housing Energy-efficiency Labeling System (BELS) led by the Ministry of Land, Infrastructure, Transport and Tourism at TOKYU COMMUNITY Technology Training Center NOTIA. Zero Energy Building (ZEB) refers to a building that aims to reduce total energy consumption by self-sufficient energy through solar power generation while minimizing energy consumption through energy-saving technologies on construction or equipment. NOTIA became the first office building in Tokyo to acquire “Nearly ZEB” with 75% energy reduction.
TOKYU COMMUNITY CORP., as a comprehensive real estate management company, aims to achieve an energy conservation effect of 75% or higher through further energy conservation operations of Nearly ZEB properties, and accumulate know-how regarding energy-saving operation of buildings and expand it into our sales and proposal activities.
Tokyu Land Corporation approves the Tokyo Cap-and Trade program.
The Tokyu Fudosan Holdings Group receives independent verification of its environmental data from a third-party in order to ensure the reliability of this information. For fiscal 2019, the scope of this verification includes data for our greenhouse gas emissions (Scope 1, Scope 2, Scope 3 (Category 1-7 and 11) and energy consumption).
The Tokyu Fudosan Holdings Group recognizes that climate change is an impor...
The Tokyu Fudosan Holdings Group has in place the Tokyu Fudosan Holdings Su...
Recognition of climate change ～ Disclose time horizon (short/medium/long te...
Impact of climate-related risks and opportunities ・With advanced renewab...
Financial quantification of climate change a: Costs associated with clim...
Support for activities to avoid climate change Tokyu Fudosan Holdings Co...
Tokyu Land Corporation is a member of the international initiative "RE100",...
As a member of the environmental committee of "The Real Estate Companies A...
Supporting international initiatives The Group supports and respects the...
Practice and Implementation Program to promote corporate value improveme...
Unquantified, Process CO2 reduction targets Tokyu Land Corporation has e...
This card shows data on CO2（GHG） emissions of Tokyu Fudosan Holdings Group....
This card shows data on energy use of Tokyu Fudosan Holdings Group. Ener...
This card shows data on GHG（CO2) emissions and energy consumption of Tokyu ...
Reduction of CO2 emissions / Reduction of energy consumption ●Reduction ...
Promotion of Renewable Energy Business SDGs in the Renewable Energy...
The Group works to reduce CO2 emissions in the office buildings it manages ...
The 356-unit Branz City Shinagawa Katsushima is a large condominium buildin...
The Group uses photovoltaic energy, wind power and other forms of natural e...
TOKYU COMMUNITY Technology Training Center NOTIA acquired Nearly ZEB TOK...
Third-party Independent Verification of Environmental Data The Tokyu Fud...
Tokyu Fudosan Holdings Group's business activities rely heavily on ecosyste...
The Group actively introduces greenery at its condominium, office and comme...
The FUTAKO TAMAGAWA Rise integrated commercial and residential complex that...
According to the Invasive Alien Species Act (Ministry of the Environment), ...
The Tokyu Fudosan Holdings Group believes that one of its duties is to miti...
Tokyu Land Corporation has rigorous performance standards for its newly bui...
The Group's office buildings, commercial facilities and resorts manage and ...
The Group recognizes that the mitigation and proper disposal of waste is an...
The Tokyu Fudosan Holdings Group is working to reduce waste through home re...
This card shows data on waste volume of Tokyu Fudosan Holdings Group. Da...
Ratio of establishments receiving environmental management certification ...
The Group recognizes that the responsible use of resources is an important ...
The Green Connection Project is an initiative with customers and other stak...
The Tokyu Fudosan Holdings Group recognizes the importance of water conserv...
The Tokyu Harvest Club Atami Izusan & VIALA was opened as a resort hote...
The Tokyu Foundation (formerly known as The Tokyu Foundation for Better Env...
Business activities in a water shortage area The Republic of Palau is ch...
This card shows data on water use of Tokyu Fudosan Holdings Group. Water...
The Tokyu Fudosan Holdings Group recognizes the cooperation of stakeholders...
CO2(GHG) quantified reduction targets setting 【Short- to medium-term quant...
Practice and Implementation Results on quantified reduction targets for ...
The Group works with stakeholders to obtain environmental performance certi...
The Tokyu Harvest Club Atami Izusan & VIALA was opened as a resort hote...
Reduction of water usage by using rainwater The office building "Kasumig...
Tokyu Land Corporation actively employs energy saving equipment and is cons...
Tokyu Land Corporation installs smart meters for the condominium units it s...
Tokyu Community Corporation has been selected to be an MEMS aggregator as a...
Tokyu Homes Corporation, recognizing the importance of working with supplie...