Environmental performance results
Items marked with an asterisk (*) are those that underwent independent assurance by Deloitte Tohmatsu Sustainability Co., Ltd. in the following environmental performance prepared by MFLP-REIT.
- Mitsui Fudosan Logistics Park Inc. Environmental Performance 2024
- Mitsui Fudosan Logistics Park Inc. Environmental Performance 2023
Energy consumption (whole buildings)
| Item | 2016 (Listing year) |
2021 (Base year) |
2023 | 2024 | |
|---|---|---|---|---|---|
| Energy consumption (thousand kWh): ①+②+③ | 14,806 | 54,560 | 65,492* | 76,884* | |
| Fuel consumption (thousand kWh): ① | 0 | 345 | 287 | 398* | |
| Purchased electricity consumption (thousand kWh): ② | 14,805 | 54,215 | 63,699 | 71,867* | |
| (Ref.)Non-fossil certificate purchases (thousand kWh) | - | - | 3,193 | 2,284 | |
| Renewable energy self-consumption (thousand kWh): ③ | - | - | 1,505 | 4,620* | |
| Energy consumption itensity (thousand kWh/㎡) | 0.0333 | 0.0362 | 0.0370 | 0.0390 | |
CO₂ emissions (Note 3)
| Item | 2016 (Listing year) |
2021 (Base year) |
2023 | 2024 | |||
|---|---|---|---|---|---|---|---|
| CO₂ emissions (t-CO₂): A+B+C | 7,581 | 23,720 | 24,246* | 27,581* | |||
| CO₂ emissions itensity (t-CO₂/㎡) | 0.017 | 0.016 | 0.014 | 0.014 | |||
| Owner-managed portion | |||||||
| Scope 1 emissions (t-CO₂): A | 1 | 16 | 14 | 11* | |||
| Scope 2 emissions (t-CO₂) before deduction of non-fossil certificate |
1,638 | 3,799 | 3,035 | 1,491* | |||
| Scope 2 Non-fossil certificate (t-CO₂) | - | - | 1,662 | 966* | |||
| Scope 2 emissions (t-CO₂) after deduction of non-fossil certificate: B |
1,638 | 3,799 | 1,373 | 525* | |||
| Scopes 1 and 2 emissions intensity (t-CO₂/㎡) | 0.060 | 0.048 | 0.016 | 0.006 | |||
| Tenant-managed portion | |||||||
| Scope 3 category 13 emissions (t-CO₂): C | 5,944 | 19,905 | 22,859 | 27,045* | |||
| Scope 3 category 13 emissions intensity (t-Co₂/㎡) | 0.014 | 0.013 | 0.014 | 0.014 | |||
Water consumption
| Item | 2016 (Listing year) |
2021 (Base year) |
2023 | 2024 |
|---|---|---|---|---|
| Water consumption (㎥) | 22,966 | 98,384 | 117,230* | 130,880* |
| Water consumption intensity (㎥/㎡) | 0.07 | 0.07 | 0.07 | 0.07 |
Waste
| Item | 2016 (Listing year) |
2021 (Base year) |
2023 | 2024 | ||
|---|---|---|---|---|---|---|
| Waste emissions (t) | ― | 14,187 | 16,743 | 18,789 | ||
| Owner-managed portion | ||||||
| General waste emissions (t) | ― | 83 | 69 | 144 | ||
| Industrial waste emissions (t) | ― | 16 | 14* | 18* | ||
| Tenant-managed portion | ||||||
| General waste emissions (t) | ― | 12,755 | 13,151 | 14,100 | ||
| Industrial waste emissions (t) | ― | 1,333 | 3,509 | 4,527 | ||
| Recycling rate (%) | ― | 70.1 | 60.7 | 65.9 | ||
(Note 1)The data in the table above were collected during the periods below. Please note that the data for 2016 is aggregated only from the multi-tenant type facilities of GLP-MFLP Ichikawa Shiohama, MFLP Kuki, MFLP Yokohama Daikoku, MFLP Yashio, and MFLP Sakai.
2016: from August 1, 2016 to July 31, 2017
2021: from January 1, 2021 to December 31, 2021
2023: from January 1, 2023 to December 31, 2023
2024: from January 1, 2024 to December 31, 2024
(Note 2)Intensity is the figure representing the consumption volume, etc. as the numerator with the total gross floor area of the properties owned (excluding MFIP) for which data for the relevant period is known as the denominator, with the consumption volume adjusted for months of operation (data covering less than 12 months is adjusted to represent 12 months of operation).
(Note 3)CO₂ emissions are calculated based on market-based method.
Introduction of green leases
MFLP-REIT is gradually introducing green leases across the whole of its portfolio. A green lease is a lease in which both owner and tenant promote environmental consideration through a building lease agreement.
With the permission of tenants, we are converting lighting in tenant-managed areas to LED lighting, with the aim of both saving energy for the property as a whole and reducing running costs
| Green leases as percentage of total (as of May 31, 2025) | 56.1％ |
|---|
Properties that apply green leases (non-exhaustive)
(Note)The figures are calculated based on the total floor area, taking into account the (quasi-)co-ownership interests of each property (limited to logistics facilities).
Introduction of LED lighting
LED lighting
With the aim of raising the asset value of our portfolio by addressing environmental issues, as well as responding to tenant needs, we are moving forward with the introduction of LED lighting (exclusive-use and common-use areas).
| LED installed as percentage of total (as of May 31, 2025) | |
|---|---|
| Whole building | Common areas (excluding buildings leased as a whole) |
| 94.8％ | 100.0％ |
（Note）The figures are calculated based on the total floor area, taking into account the (quasi-)co-ownership interests of each property (limited to logistics facilities).
Introduction of solar power panels
Solar power panels
Some of the logistics facilities owned by MFLP-REIT have solar power panels installed to generate renewable energy.
| Solar power panel annual power generation (Actual, 2024) |
|
|---|---|
| 23.1GWh |
（Note）For the properties owned by MFLP-REIT, the value stated is the power generated during January 1, 2024 to December 31, 2024 from the 16 MFLP properties with solar panels installed. Note that this value is the total power generated from the entire properties and does not take into consideration MFLP-REIT’s ownership ratio of the properties.
Reuse and recycle of water
Certain logistics facilities owned by MFLP-REIT are equipped with facilities to reuse well water, and we are working to reduce the amount consumed from water sources.
Collaboration programs with tenants
We think that cooperation with tenants is essential in reducing environmental impact. Therefore, Mitsui Fudosan and ITOCHU Group collaborate with tenants on a variety of initiatives to reduce environmental impacts.
Specifically, we are actively working to gain cooperation from tenants by putting up 3Rs (“reduce, reuse, recycle”) posters to encourage the sorting of garbage, displaying separate signs on trash cans, posting no-idling signs in truck waiting areas, and distributing a Sustainability Guide to tenants and so on.
Putting up 3R posters
Sustainability Guide
separate signs on trash cans
no-idling signs
Commercial arrangements and initiatives for environmental performance in collaboration with the sponsors
By leveraging our strategic partnership with Mitsui Fudosan and the ITOCHU Group to prioritize the inclusion of properties with outstanding environmental performance—developed by Mitsui Fudosan, ITOCHU Corporation and ITOCHU Property Development—into our portfolio, we aim to reduce the portfolio’s environmental impact and mitigate environmental risks.
In addition, MFLP-REIT outsources the property management operations of the logistics facilities and industry real estate we own to Mitsui Fudosan and ITOCHU Group. When selecting an outsourced partner, an assessment of the partner's sustainability initiatives based on the Sustainability Procurement Policy is included as one of the selection and evaluation criteria and, in principle, is reviewed once a year. In conducting the assessment, beyond its operational management capabilities, we give consideration to the partner's cooperation and support of efforts to reduce energy consumption, reduce environmental contaminants, respect human rights, and achieve the sustainability policy and targets as set out by the Asset Management Company. The outsourcing contract also stipulates that both MFLP-REIT and Mitsui Fudosan work together in promoting environmental measures.
Investment in Urban Revitalization
Mitsui Fudosan and ITOCHU Group on creating local employment and improving convenience when developing logistics facilities.
MFLP Funabashi
MFLP Funabashi is a "neighborhood creation-type logistics facility", a multi-use base development centered on a logistics facility, that aims to coexist harmoniously with the local community and enliven the surrounding area.
On the site with a total floor area of approximately 700,000m2, there are three logistics facilities, "MFLP Funabashi I," "MFLP Funabashi II," and "MFLP Funabashi III" (of which "MFLP Funabashi II" and "MFLP Funabashi III" are properties defined in “Right of first look and preferential negotiation agreement"). In addition to the three logistics facilities, the site has "&GATE", an ancillary facility with a cafeteria, fitness room and childcare facilities available for the use of MFLP Funabashi employees, and "&PARK", a green space also available for local residents. Within the "& PARK," a skating rink, "Mitsui Fudosan Ice Park Funabashi," has been invited, allowing people of all ages to enjoy skating, thereby contributing to connection with communities and community building through sports. Several commercial facilities and condominiums have also been developed in the surrounding area, contributing to the revitalization of the local community and reduction of environmental impact through urban development that integrates logistics facilities, commercial facilities, and housing.
MFLP Funabashi also holds events in collaboration with the “Mitsui Shopping Park LaLaport TOKYO-BAY”, a commercial facility located near Minami Funabashi Station, to create liveliness not only within the site but also in the Funabashi area as a whole, and to realize neighborhood creation that matures with age, increasing the appeal of the town over time.
MFLP FunabashiⅡ
MFLP FunabashiⅢ
&Park
Skating rink
Environmental management system / PDCA cycle
The Asset Management Company established its own environmental management system (EMS) and implements a PDCA cycle in accordance with the aforementioned structure and governance in order to manage the environmental load of its entire portfolio, such as energy consumption, CO₂ emissions, water consumption, and waste generation, and achieve its targets.
Understanding and reducing environmental risks in investment decisions and monitoring
Regarding due diligence for new investments, MFLP-REIT obtains an understanding of environmental and social risks by utilizing external experts and uses this information in its investment decisions. With regard to environmental risks in particular, before an investment decision is made, surveys are carried out as part of the engineering report for soil contamination risks, and to establish whether or not hazardous substances (such as asbestos and PCBs) have been used. Periodic monitoring of environmental and social risks is conducted for properties held as well and initiatives that provide opportunities for reducing risks and increasing property value are carried out, e.g., expert building assessments such as “Energy Efficiency Walkthroughs.”
Utilization of an external consultant
MFLP-REIT utilizes the support of Nikken Sekkei Construction Management, Inc. as an expert consultant for suggestions for the portfolio’s energy management and measures that contribute to increasing environmental performance.
Commitments related to greenfield developments
When investing in properties developed on greenfield, MFLP-REIT will only invest in properties that have obtained green building certification. Mitsui Fudosan, our sponsor, also gives consideration to the protection of the natural environment when developing on greenfield, by obtaining green building certification after development, considering that development activities may affect the natural environment and ecosystem of the subject site and its surroundings.Among the properties owned by MFLP-REIT, "MFLP Osaka Katano" and "MFLP Hiratsuka II" were developed through a land readjustment project on farm land, but they were developed in an environmentally friendly and obtained green building certification by installing solar panels on the roof.
MFLP Hiratsuka Ⅱ
MFLP Osaka Katano
Soil contamination countermeasures
MFLP-REIT has built a strategic partnership with its sponsor, Mitsui Fudosan, and its acquisitions are centered on properties developed by Mitsui Fudosan. When conducting due diligence at the time we acquire a property, we confirm that soil contamination surveys are conducted and check whether appropriate countermeasures have been implemented at those properties for which they were deemed necessary.
The logistics facilities that are the main target for investments by MFLP-REIT are sometimes located on brownfield land where there is a risk of soil contamination, such as the sites of former factories, and soil contamination countermeasures may be required.
In cases where they have been left unused as sites of former factories, there may be soil contamination and other issues that can prevent the potential value of the real estate from being realized. Soil contamination countermeasures executed as part of new development lead to soil contamination no longer being left untreated, thus contributing not only to the property but also to the surrounding environment.
Strategic partnership with Mitsui Fudosan
