Basic Approach to Environmental Consideration

NBFM stipulates the following in its "ESG Policy"

1. Promoting energy efficiency and reduction of CO2 emissions

By promoting efficient use of energy in real property investment and management activities and pursuing introduction of energy-saving facilities etc., NBFM endeavors to reduce CO2 emissions through energy saving.

2. Preserving water environment and promoting resource saving and waste reduction

NBFM aims to preserve the water environment by initiatives for saving water and introduction of water-saving devices. NBFM also makes an effort to promote 3R (reduce, reuse and recycle) for resource saving and waste reduction.

3. Responding to climate-related issues and improving adaptability (added in February 2021)

In addition to initiatives for contribution to climate change mitigation, NBFM identifies climate change risks and opportunities in NBF’s real estate investment management and promotes management and reduction efforts for these to increase NBF’s and NBFM’s organizational resilience to climate change-related shifts in the global environment and socio-economic structures.

Environmental Targets

Based on the above approach, NBFM has set a target of reducing energy-based CO2 emissions by 40% or more from that in 2013 as a base by 2030 as a new environmental indicator in 2021 and intends to promote initiatives addressing climate-related risks and opportunities.
Please refer to page 15 for details on environmental performance results for CO2 reduction, energy consumption, water consumption and waste over the past three years.

Indicators (unit) Relationship with Climate Initiatives
CO2 emissions intensity
reduction (kg-CO2/m2)
FY2013-FY2030
40% or more
Enhance environmental performance of
portfolio, reduce carbon dependence:
Relates to transition risks
(regulatory risks, market risks)

CO2 emissions intensity reduction performance

The aggregation period from 2013 to 2017 is one year from April 1st to March 31st of the followingyear.
The period subject to aggregation after 2018 is one year from January 1st to December 31st of the followingyear.

Environment Management System / PDCA Cycle

NBFM established its own environment management system and implements a PDCA cycle every year in order to manage the environmental load of its real estate portfolio such as energy consumption, CO2 emissions, water consumption, waste generation, etc. and achieve its targets.

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