Energy consumption

Actual results

Greenhouse gas emissions

KPI

Item	Target
GHG emissions (Scope 1＋2＋3)	90% reduction by 2050（Base year 2021）
GHG emissions (Scope 1＋2)	42% reduction by 2030（Base year 2021）

Actual results

KPI

Item	Target by 2030
CO2 emission intensity	46% reduction (Base year 2013)

Actual results

From2022, the definitions of Scope 1, 2, and 3 have been changed as follows.

Scope 1:	CO2 emissions associated with the use of fuel (city gas, bunker A, diesel oil) in properties excluding tenant-managed properties ("owner-managed properties").
Scope 2:	CO2 emissions from the use of purchased electricity and heat (Electricity, cool water, warm water, steam, other hot water) in owner-managed properties. Emissions calculated based on tenants' energy consumption using the total floor area and tenants' exclusive area ("tenants' energy-derived CO2 emissions") are excluded from the calculation.
Scope 3:	CO2 emissions from tenant energy consumption. For owner-managed properties, the total floor area and exclusive area for tenants are used to calculate tenant energy-derived CO2 emissions.

Water consumption

KPI

Item	Target by 2030
Water consumption intensity	5% reduction (Base year 2019)

Actual results

Waste emissions

KPI

Item	Target by 2030
Waste recycling rate	65%

Actual results

• We have received the independent practitioner’s assurance from Deloitte Tohmatsu Sustainability Co., Ltd. for "Nippon Building Fund Inc. 2021 Environmental Performance".
• We have received the independent practitioner’s assurance from Deloitte Tohmatsu Sustainability Co., Ltd. for "Nippon Building Fund Inc. 2022 Environmental Performance".
• We have received the independent practitioner’s assurance from Deloitte Tohmatsu Sustainability Co., Ltd. for "Nippon Building Fund Inc. 2023 Environmental Performance".

Notes on the Above Performance

1. Scope of data calculation

• In principle, all properties owned by Nippon Building Fund Inc. (NBF) during the period from January 1 to December 31, 2023 are covered. Except as follows, above data consists of total consumption/emissions from common-use areas and tenantsʼ exclusive areas in each property and conversion to equity is not performed.
• NBF Shinagawa Tower partly owned by NBF is a part of the property including Shinagawa Grand Central Tower, but that is excluded from the calculation.
• Parale Mitsui Building consists of an administrative service wing partly owned by NBF, a residential wing, a retail stores wing and a parking wing, but the data is compiled for the entire building.
• Properties with exclusive ownership areas holding 25% or less than 25%（GranTokyo South Tower, Panasonic Tokyo Shiodome Bldg., Osaki Bright Tower, Toyosu Bayside Cross Tower）are calculated for equity held by NBF.
• Regarding gas consumption, some data such as amount of city gas consumption, contracted directly by tenants, which is difficult to calculate, is excluded.
• Waste data for properties where building management is performed by tenants (NBF Osaki Bldg. and NBF Ginza Street Bldg.), are excluded.

2. Calculation period

Calculation period: January 1^st through December 31^st 2023

3. Calculation method

• Energy consumption
  Total energy consumption＝Σ (consumption by energy type × heating value conversion factor × conversion rate for electricity)
  Calculated by using the conversion factor based on the “Act on Rationalization of Energy Use and Shift to Non-fossil Energy”
  Energy type: city gas, bunker A, diesel oil, Electricity, cool water, warm water, steam, other hot water
• Greenhouse gas emissions
  Scope of greenhouse gas: Energy origin CO₂
  Energy origin CO₂ emissions＝Σ (energy consumption × CO₂ emission factor)
  The CO₂ emission factors for fuel and other heat are based on the "Greenhouse Gas Emission Calculation and Reporting Manual” published by Ministry of the Environment and Ministry of Economy, Trade and Industry.
  • The definitions of Scope 1, 2, and 3
    

    Scope 1:	CO2 emissions associated with the use of fuel (city gas, bunker A, diesel oil) in properties excluding tenant-managed properties ("owner-managed properties").
    Scope 2:	CO2 emissions from the use of purchased electricity and heat (Electricity, cool water, warm water, steam, other hot water) in owner-managed properties. Emissions calculated based on tenants' energy consumption using the total floor area and tenants' exclusive area ("tenants' energy-derived CO2 emissions") are excluded from the calculation.
    Scope 3:	CO2 emissions from tenant energy consumption. For owner-managed properties, the total floor area and exclusive area for tenants are used to calculate tenant energy-derived CO2 emissions.

  • Non-fossil fuel certificate
    NBF has been sourcing its real CO₂-free electricity together with a non-fossil fuel certificate.
• Water consumption
  Total water consumption＝Σ (Purchased water consumption^*1 ＋ Other water consumption^*2)
  • Purchased water consists of purchased clean water and industrial water among other things.
  • Other water consists of water recycled inside the property, grand water, rainwater among other things.
• Waste emissions
  Total waste emissions＝Σ (General waste emissions ＋ Industrial waste emissions)
  Based on the “Waste Management and Public Cleansing Act”
• Intensity figures
  Each intensity figure ＝ Total consumption of each / Floor space
  Floor space is based on area under the Building Standards Act.
  As for Toyosu Bayside Cross Tower, since additional acquisition was made during the calculation period, the floor space is calculated by averaging the floor space for each month over the year.
  The data was calculated from properties held by NBF. However, some portion of these properties like residential areas were excluded due to difficulties in collecting the data.
  Intensity figures are corrected by annual average occupancy rate.
  Corrected intensity figures ＝ Non-Corrected Intensity Figures / Average vacancy rate [%]
  Calculations of energy consumption intensity and CO₂ emission intensity are based on the energy consumption and CO₂ emissions that reflect the non-fossil fuel certificate utilization.

※Some variance come from rounding off.