Daiwa House REIT

TSE code : 8984

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Supported Initiatives and External Evaluation

Signing on to Principles for Responsible Investment (PRI)

The “Principles for Responsible Investment (PRI)” is an international network of institutional investors working to realize the following six principles. The PRI is supported by the United Nations Environment Programme Finance Initiative (UNEP FI) and the United National Global Compact (UN Global Compact). The investors who are signatories to the PRI declare to include ESG issues into investment decisions, and while helping the beneficiaries enhance long-term investment performance and fulfilling their fiduciary duty as signatories, they aim to create an abundant world for all stakeholders.


<The six Principles for Responsible Investment>

1. We will incorporate ESG issues into investment analysis and decision-making processes.
2. We will be active owners and incorporate ESG issues into our ownership policies and practices.
3. We will seek appropriate disclosure on ESG issues by the entities in which we invest.
4. We will promote acceptance and implementation of the Principles within the investment industry.
5. We will work together to enhance our effectiveness in implementing the Principles.
6. We will each report on our activities and progress towards implementing the Principles.

The Asset Manager agreed with the basic approach of the PRI and became a signatory in February 2021.

Participation in CDP Climate Change Program


CDP is an international non-profit organization that encourages companies and governments to disclose information on measures for such environmental issues as climate change, water security, and forests, based on requests from global institutional investors and major purchasing companies that are promoting a transition to a carbon-free society. In 2020, over 9,600 global companies disclosed information on their measures for environmental issues through CDP, making CDP one of the global information disclosure platforms for environmental information disclosure.

■CDP Climate Change Program Assessment

CDP assessments are provided across four consecutive levels, which are broken down into eight-tier score bands. The levels are: Leadership level (A and A-), Management level (B and B-), Awareness level (C and C-) and Disclosure level (D and D-). DHR responded to CDP Climate Change Questionnaire for the first time in 2020 and achieved an “A-” score of the highest Leadership level, as CDP recognized DHR for its leadership role in climate change initiatives and information disclosure.

■CDP Supplier Engagement Rating

The CDP Supplier Engagement Rating is determined through responses from companies engaged in corporate initiatives against climate change throughout their value chain in the four areas of “supplier engagement,” “governance,” “scope 3 emissions” and “targets,” as well as their overall CDP Climate Change Program score. In 2020, CDP listed approximately 400 companies, including approximately 80 Japanese companies, on the Supplier Engagement Leaderboard out of approximately 5,800 companies subject to evaluation, as recognition of the particularly excellent initiatives of those companies. DHR participated in the CDP Climate Change Program for the first time in 2020 and made it onto the Supplier Engagement Leaderboard as the first listed J-REIT to be named.


Participation in GRESB Real Estate Assessment


GRESB is an annual benchmarking assessment to measure 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 the Principles for Responsible Investment (PRI).

■GRESB Assessment

DHR began participating in the GRESB Real Estate Assessment in 2017. DHR received a GRESB “4 Stars” on a 5-star scale evaluation of the overall score relative to global participants in the 2020 assessment. Furthermore, DHR has received a “Green Star” assessment for three consecutive years as an excellent participant in both the “Management Component,” which evaluates policies and organizational structures to promote ESG, and the “Performance Component,” which evaluates the environmental performance of properties and initiatives with tenants. DHR also received an “A” rating, the highest rating given on a 5-grade scale in the GRESB Public Disclosure evaluation scheme for two consecutive years based on its proactive information disclosure practices related to ESG initiatives.


For details, please refer to the GRESB website: https://gresb.com/

SMBC Environmental Assessment Loan

■SMBC Environmental Assessment Loan

The SMBC Environmental Assessment Loan refers to a seven-tier scale assessment system as part of the loan origination process, with “AAA” as the highest rating, that assesses the level of environmental consciousness of a company based on proprietary assessment standards set by Sumitomo Mitsui Banking Corporation and The Japan Research Institute, Limited.

■Overview of assessment

We received an “A” rating for our environmental initiatives, having earned high evaluation in the areas of “environmental management,” “environmental communication” and “environmental conservation policy initiatives.”


MUFG ESG Rating Certificate for J-REITs supported by JCR

■MUFG ESG Rating Certificate for J-REITs supported by JCR

MUFG ESG Rating Certificate for J-REITs supported by JCR is a product exclusively for J-REITs that Mitsubishi UFJ Research and Consulting Co., Ltd. awards on a five-tier scale with “S” as the highest rating by assessing the ESG measures, with the support of Japan Credit Rating Agency, Ltd. (JCR).

■Overview of assessment

Our broad-based initiatives in all areas of ESG were highly evaluated in the assessment, and DHR and the Asset Manager acquired an “S” rating (the highest).

Eco Action 21 Certification and Registration Program

■Eco Action 21 Certification and Registration Program

EcoAction 21 Certification and Registration Program is a third-party evaluation program to certify and register organizations which implement appropriate environmental initiatives, establish, operate, and maintain environmental management system, and promote environmental communication in accordance with the EcoAction 21 Guidelines formulated by the Ministry of Environment. The Asset Manager was certified and registered in March 2020.

Eco Action

For details, please refer to the Eco Action 21 website : http://ea21.jp/

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