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Initiatives for ESG

Environmental Principles and Initiatives for Environment/Society

Mitsui Fudosan Logistics REIT Management Co., Ltd, the asset management company of Mitsui Fudosan Logistics Park Investment Corporation, has established the "ESG (Environment, Society, Governance) Policy" in November 2017.

Environmental policies of Mitsui Fudosan Group

Mitsui Fudosan Group seeks reduction of environmental load, diversified collaboration/cooperation with various entities, improvent of pease of mind, safety and comfort as well as securement of sustainability.

Environmental policies of Mitsui Fudosan Group

Initiatives for tenants and local communities

Utilizing the know-how of Mitsui Fudosan, the sponsor, the properties owned by MFLP-REIT promote initiatives to offer healthy, pleasant and safe environment by giving consideration to stakeholders such as occupying tenants , facility user, surrounding environment and local communities.

Initiatives for tenants and local communities
Cafeteria, shop

Initiatives for tenants and local communities
Commuter shuttle

Initiatives for tenants and local communities
Implemented beautification
activities
(cleaning)

Initiatives for tenants and local communities
Designated as
a tsunami
evacuation building
(MFLP Sakai)

Initiatives for reducing environmental load

MFLP-REIT has put forth efforts on reducing CO2 emissions through energy saving while promoting efficient use of energy at facilities it owns by introducing LED lights, installing solar panels on the roof and such.

Initiatives for reducing environmental load
Solar panels

Initiatives for reducing environmental load
LED lights

Eco-friendly green buildings

MFLP-REIT has acquired CASBEE, DBJ Green Building certification and BELS for the properties listed below, and MFLP Sakai has also received the Eco-Friendly Architecture Award. Thus, we are actively introducing environmentally friendly green buildings.

Eco-friendly green buildings

Property Evaluation/Award history, etc.
GLP/MFLP Ichikawa Shiohama CASBEE (Real Estate)Rank S
CASBEE (New construction) Rank A
MFLP Kuki CASBEE (New construction) Rank A
MFLP Yokohama Daikoku DBJ Green Building Certification 5 Stars
MFLP Yashio CASBEE (New construction) Rank A
MFLP Atsugi CASBEE Kanagawa Rank A*1
DBJ Green Building Certification 4 Stars
MFLP Funabashi Nishiura CASBEE (New construction) Rank A
MFLP Kashiwa CASBEE (New construction) Rank A
MFLP Sakai CASBEE (New construction) Rank S
FY2015 Osaka Eco-friendly Construction Award (Commerce, other category)
MFLP Komaki CASBEE Aichi Rank A*1
MFLP Hiratsuka CASBEE Kanagawa Rank A*1
MFLP Inazawa CASBEE (New construction) Rank A
CASBEE Aichi Rank A*1
MFLP AtsugiⅡ CASBEE Kanagawa Rank A*1
MFLP FukuokaⅠ CASBEE (New construction) Rank A
MFLP Prologis Park Kawagoe CASBEE (New construction) Rank A
BELS 5 Stars
MFLP HiroshimaⅠ CASBEE Hiroshima Rank A*1
MFLP Ibaraki CASBEE Osaka-fu Rank A*1
MFLP Kawaguchi I CASBEE Saitama-ken Rank S*1
BELS 5 Stars
*1 This is an evaluation based on the local government notification system.

Sustainability Finance

MFLP-REIT aims to strengthen the funding base by expanding the group of investors interested in ESG investment and financing, along with promoting initiatives for sustainability even further, by procuring funds through sustainability finance.

Sustainability Finance Framework

Overview of the Sustainability Finance Framework

Use of Proceeds from sustainability finance

The proceeds (the “Proceeds”) from sustainability finance shall be allocated towards the acquisition of specific assets (“Eligible Green Assets” and “Eligible Sustainable Assets” under sustainability finance, as defined below) and towards refinancing new or existing debt and bonds to acquire these assets.

Eligible Sustainable Assets

Eligible Green Assets meet the following Eligible Green Project Criteria. Eligible Sustainable Assets meet the requirements of both Eligible Green Project Criteria and Eligible Social Project Criteria (for these two types of eligible assets, hereinafter referred to as “Eligible Assets”).

■Eligible Green Project Criteria

Assets that have received or is expected to receive any of the following certifications from a third-party certification program.

(1)  DBJ Green Building Certification: 3 stars or higher (top three certification levels)
(2)  BELS Certification: Three or more (top three certification levels)
(3)  CASBEE Appraisal: B+ or higher (top three certification levels)
(4)  LEED Certification: Silver, Gold or Platinum (top three certification levels)
(5)  Top three certification levels from any other third-party certification program

■Eligible Social Project Criteria

New or existing real estate properties that meets two or more of the following criteria.

(1)  Basic infrastructure development to revitalize the local community
Real estate that utilizes the land lot in a way that contributes to “urban development (machi-zukuri)” of the surrounding area such as providing recreational green space based on the needs of the local society.
(2)  Access to essential services for daily life
Real estate with adequate countermeasures to disaster such as evacuation centers used in the event of a disaster or has stockpiles of supplies for local residents.
Real estate that contributes to the local community such as having an authorized nursery center in the property.
(3)  Socio-economic improvement and empowerment
Contributions to local societies and economies such as job creation by tenant companies and utilization of local companies in construction projects.

Management of Proceeds

The upper limit of funds raised through sustainability finance is calculated by multiplying the Interest-bearing debt ratio (as of the most recent fiscal year-end that can be calculated as of the payment date or execution date of bond or loan financing) by total acquisition price of the Eligible Sustainable Assets.

Reporting

The following items will be disclosed on the MFLP-REIT website as at the end of January of each year so long as the balance of sustainability finance is outstanding.

■Total amount of allocated Proceeds

■Amount of Proceeds not yet allocated

■Reporting on Environmental Improvement Effects

The status of the green building assessments and certification levels

■Reporting on Social Benefits

①  Output indicators
Number of Eligible Social Assets
②  Outcome
(1)Basic infrastructure development to revitalize the local community
・Overview of the project (Target Assets)
・Number of facilities equipped with seismic isolation structures
(2)Access to essential services
・Number of facilities designated as evacuation sites in the event of a disaster
・Number of facilities equipped with disaster relief vendors
・Number of facilities equipped with emergency supply stockpiles
・Number of facilities equipped with cooking bench*
・Number of facilities equipped with emergency toilets
・Number of facilities equipped with emergency power supply
・Number of licensed nursery centers
(3)Socio-economic improvement and empowerment
The following items are related to the promotion of the employment of local residents.
・Number of facilities hiring local residents
・Number of facilities hiring local companies for construction work
* The "cooking bench" is a brick-enclosed base with a seat plate placed on it. It is normally used as a bench, but it is also used as a kitchen range in the event of a disaster.

External review

For eligibility of the Sustainability Finance Framework, MFLP-REIT has been assigned “SU 1 (F),” the highest evaluation grade in the JCR Sustainability Finance Framework Evaluation by Japan Credit Rating Agency, Ltd. (JCR).

JCR's Sustainability Finance Framework Evaluation Results

For eligibility of the sustainability bond, MFLP-REIT has been assigned JCR as below.

MFLP-REIT 1st Unsecured Bonds (Sustainability Bonds)
JCR's Sustainability Bond Evaluation Results
JCR's Credit Rating

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