International Initiatives

◆Signing of United Nations Global Compact (UNGC)
The United Nations Global Compact is a leading global sustainability initiative that aims to build a robust global society through partnership between the UN and the private sector (companies/organizations). It is a voluntary undertaking for the purpose of achieving sustainable growth through various companies and organizations exercising responsible, creative leadership and taking action as good members of society. Companies and organizations that have signed the UNGC continue striving to achieve this goal, based on the commitment of their corporate leadership, who endorse ten principles relating to protecting human rights, eliminating inappropriate labor practices, implementing environmental measures, and preventing corruption.

Our sponsor, Tokyu Corporation, first signed the UNGC in April 2019 as a corporate group, including the railway business, and joined the Global Compact Network Japan, which is comprised of Japanese companies that have signed the UNGC. It supports the ten principles covering four areas (human rights, labor, the environment, anti-corruption) and pursues further sustainability initiatives. Tokyu REIM also supports the UNGC’s ten principles as a member of the Group.

Please refer to this page, about Tokyu Corporation’s participation in the United Nations Global Compact.
Please refer to this page, about details of the United Nations Global Compact.

◆Task Force on Climate-related Financial Disclosures (TCFD)
Tokyu REIM expressed its support for the Task Force on Climate-related Financial Disclosures (TCFD) recommendations in August 2022 and joined the TCFD Consortium, an organization formed by domestic companies supporting the TCFD recommendations. 
The Task Force on Climate-related Financial Disclosures (TCFD) is an organization established by the Financial Stability Board (FSB) for the purpose of discussing climate-related information disclosure and the response by financial institutions at the request of the G20. The TCFD releases recommendations to understand and disclose “governance,” “strategies,” “risk management” and “indicators and targets” regarding the risks and opportunities related to climate change.

Please refer to this page, about information disclosure based on the TCFD recommendations.

External Certifications / Assessments

In the 2023 GRESB Real Estate Assessment, TOKYU REIT received a “4 Stars” in GRESB Rating, which is based on GRESB Overall Score and its quintile position relative to global participants. It also won a “Green Star” designation for the 9th consecutive year by achieving high performance both in “Management Component” that evaluates policies and organizational structure for ESG promotion, and “Performance Component” that assesses environmental performance and tenant engagement of properties owned.

TOKYU REIT also received the highest “A Level” for the GRESB Public Disclosure, which assess the width of ESG disclosure.

GRESB is an annual benchmarking assessment to measure ESG (Environmental, Social and Governance) integration of real estate companies and funds, as well as the name of organization which runs the assessment. It was founded in 2009 by a group of major European pension funds who played leading roles in launching Principles for Responsible Investment (PRI).

gresb2017   gresb2022

The MSCI ESG rating is a rating established to play a role in the identification of companies’ ESG-related risks and opportunities by institutional investors. Assessment is conducted using seven grades, from “AAA” to “CCC,” based on a company’s exposure to industry-specific ESG risks and capacity to manage those risks compared with other companies in the same field.

As of June 2023, TOKYU REIT received an MSCI ESG Rating of “BBB”.

※The use by TOKYU REIT of any MSCI ESG RESEARCH LLC or its affiliates (“MSCI”) data, and the use of MSCI logos, trademarks, service marks or index names herein, do not constitute a sponsorship, endorsement, recommendation, or promotion of TOKYU REIT by MSCI.  MSCI services and data are the property of MSCI or its information providers, and are provided “as-is” and without warranty.  MSCI names and logos are trademarks or service marks of MSCI.

Green Building Certification

◆Target Environmental Certification Acquisition Rate
When managing TOKYU REIT’s assets, Tokyu REIM recognizes that increasing the objectivity and reliability of initiatives aimed at reducing its environmental burden and using them to improve its activities will contribute to improved medium- and long-term asset value. It is therefore pursuing the acquisition of environmental certifications based on the targets indicated below.

  • Set target

<Current Status of Environment Certification Acquisition>

(as of Apr. 24, 2024)




Number of properties
that acquired certifications

17 3 1 19
Total floor space 115,558.80㎡ 21,426.91㎡ 23,462.79㎡ 146,641.15㎡

Environmental certification
acquisition rate
(based on total floor space)

59.8% 11.1% 12.1% 75.9%

*Environmental certifications refer to any of the following: CASBEE Certification, BELS Certification, LEED Certification, and DBJ Green Building Certification.
*The figures are based on the total floor space of portfolio properties, excluding land with leasehold interest.
*Even when a certification is acquired only for a certain use at properties including multiple uses, the area for which environmental certification is acquired is calculated based on the total floor area of the said property.
*The figures are calculated by using the exclusive area based on ownership ratio when part of the ownership interest is held at buildings under compartmentalized ownership and the total floor area or exclusive area based on ownership ratio when part of the ownership interest is held at co-owned properties.

◆CASBEE Real Estate Assessment Certification
Comprehensive Assessment System for Built Environment Efficiency (CASBEE) is an assessment and rating method of the comprehensive environmental performance of buildings developed by the Institute for Built Environment and Carbon Neutral for SDGs (IBECs) under the leadership of the Ministry of Land, Infrastructure, Transport and Tourism.

It is a system for comprehensively assessing the quality of buildings not only from the aspect of environmental consideration such as energy saving and the use of materials with little environmental burden but also of consideration to the interior comfort and scenic aesthetics.

CASBEE Real Estate Assessment Certifications acquired by properties managed by TOKYU REIT are as shown below.


Rank S

Tokyu Sakuragaoka-cho Building

Toranomon Building

Aoyama Oval Building

Rank A

Jiyugaoka Square


Rank A

TOKYU REIT Shimokitazawa Square

Shibuya Miyashita Koen Building


◆BELS Certification

BELS (Building-Housing Energy-efficiency Labeling System) is the third-party certification system to rate houses and buildings in accordance with duty to make effort to label energy saving performance in the Act on Improving Energy Consumption Performance for Architectural Structures. Houses and buildings are evaluated based on the value of BEI (Building Energy Index) derived from the primary energy consumption based on the government-designated energy consumption performance standard of architectural structures.

The evaluation and indication based on the system shall be implemented by the registered organizations as operators of BELS operations, which fall under registered housing performance evaluation organizations that are members of the evaluation association, designated construction confirmation authorities or registered building research agencies.

The result of evaluation is shown based on the number of stars (1 Star-5 Stars).

BELS Certifications acquired by properties managed by TOKYU REIT are as shown below.

Tokyu Nampeidai-cho Building


 Acquisition Date of Certification
         April 24, 2024

Kojimachi Square


 Acquisition Date of Certification
         March 29, 2024

Tokyu Ikejiri-ohashi Building


 Acquisition Date of Certification
         January 23, 2017

◆LEED Certification
LEED (Leadership in Energy and Environmental Design) (Note) is an environmental performance assessment system for built environments (buildings and urban environments) developed and implemented by the non-profit organization United States Green Building Council (USGBC), with assessment for certification conducted by Green Business Certification Inc. (GBCI). This system certifies buildings that have a positive impact on people’s health and promote renewable clean energy while reducing costs and resource consumption.
There are various rating systems in LEED, including “BD+C” (building design and construction), "ID+C" (interior design and construction), “O+M” (operation and maintenance of existing buildings), and “ND” (neighborhood development). The assessment result is indicated using four levels (Platinum, Gold, Silver, Certified), which are based on the total score obtained for the indicators established for each rating system.

LEED Certifications acquired by properties managed by TOKYU REIT are as shown below.

Futako Tamagawa Rise

Futako Tamagawa Rise
LEED ND (neighborhood development category) Gold certification (first ever globally)
Acquisition Date of Certification:November 16, 2015

Futako Tamagawa Rise Tower Office
LEED NC (new construction category) Gold certification
Acquisition Date of Certification:August 5, 2015

(Note) Provided by United States Green Building Council (USGBC), LEED® is an assessment and certification program that contributes to the design, construction, maintenance, and management of high-performance green buildings. LEED® and its logo are registered trademarks of USGBC and may only be used with permission.

◆JHEP Certification

JHEP (Japan Habitat Evaluation and Certification Program) is a version of HEP (Habitat Evaluation Procedures – a technique for quantitatively assessing environments as living environments for creatures). This environmental assessment method developed by the United States federal government was revamped by the Ecosystem Conservation Society – Japan to make it suitable for Japan and established in 2008. It is a unique certification system in Japan that objectively and quantitatively assesses and certifies the extent to which a project contributes to preserving biodiversity and enables it to be visualized.

It compares biodiversity values before and after the project, and if the value after the project is equal to or greater than the value before the project, it will be certified as a project contributing to biodiversity. The assessment results are based on six grades, from “AAA” to “B+”.

JHEP Certifications acquired by properties managed by TOKYU REIT are as shown below.

Futako Tamagawa Rise

Futako Tamagawa Rise Block II-aAAA rating
Certification renewal dateApril 24, 2019

*TOKYU REIT belongs to the Futako Tamagawa Rise Block II-a Management Association, which applied for assessment.