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

The details of Scope 1, 2, and 3 categories are 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

• Of the general waste emissions for 2024, a potion（2,335 t）are assured. The scope covered by the assurance is as described in” [Notes on the Performance] 3. Calculation method ④.”
• Of the general waste emissions for 2025, a potion（2,590 t）are assured. The scope covered by the assurance is as described in” [Notes on the Performance] 3. Calculation method ④.”

• We have received the independent practitioner’s assurance from Deloitte Tohmatsu Sustainability Co., Ltd. for "Nippon Building Fund Inc. 2023 Environmental Performance".
• We have received the independent practitioner’s assurance from Deloitte Tohmatsu Sustainability Co., Ltd. for "Nippon Building Fund Inc. 2024 Environmental Performance".
• We have received the independent practitioner’s assurance from Deloitte Tohmatsu Sustainability Co., Ltd. for "Nippon Building Fund Inc. 2025 Environmental Performance".

Notes on the Performance

1. Scope of data calculation

• In principle, all properties owned by Nippon Building Fund Inc. (the ”NBF”) during the period from January 1 to December 31, 2025 are covered.
• Calculations are made taking into account NBF's share in each property held.
• 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 Building and NBF Ginza Street Building), are excluded.
• Portions that are difficult to aggregate, such as residential areas, are excluded from the data aggregation.

2. Calculation period

Calculation period: January 1^st through December 31^st 2025

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^*1 ＋ Industrial waste emissions)
  Based on the “Waste Management and Public Cleansing Act”
  • Out of the 71 properties subject to the calculation of general waste emissions, the scope covered by the assurance includes 45 properties calculated using one of the following measurement methods: ① Measurement by meters within individual properties, ② Measurement by waste collection contractors, ③ Measurement by garbage bags (weight conversion based on documented agreements).
• Intensity figures
  Each intensity figure ＝ Total consumption of each / Floor space
  Floor space is based on area under the Building Standards Act.
  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.