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.

CDP

<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

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 2021 over 14,000 organizations around the world disclosed data through CDP, including more than 13,000 companies worth over 64% of global market capitalization, and over 1,100 cities, states and regions.

■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-). In the 2021 assessment, DHR was awarded the highest score of ‘A’ and a place on the CDP A List for Climate Change as the first J-REIT to be named by itself(Note). DHR was recognized for its internationally high standards of commitment and information disclosure on climate change issues. 200 companies including 55 Japanese companies made the CDP 2021 A List for Climate Change out of nearly 12,000 companies that were scored.

(Note) Excludes the case where the parent company of the group answers the questionnaire.

CDP A LIST

■CDP Supplier Engagement Rating

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 the 2021 assessment, over 500 highest-rated companies including 105 Japanese companies in the top 8% of companies subject to evaluation were recognized on the Supplier Engagement Leaderboard for their excellent supplier engagement.
DHR has participated in the CDP Climate Change Program since 2020 and made it onto the Supplier Engagement Leaderboard for two consecutive years.

CDP

Participation in GRESB Real Estate Assessment

■GRESB

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 2021 assessment. Furthermore, DHR has received a “Green Star” assessment for four 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 three consecutive years based on its proactive information disclosure practices related to ESG initiatives.

GRESB

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.”

SMBC環境配慮評価融資

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

Eco Action 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 Eco Action 21 Guidelines formulated by the Ministry of Environment. DHR and the Asset Manager were certified and registered in March 2022.

Eco Action

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

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