JapanCor’s Approach to ESG
Promoting ESG to Strengthen Internal and Group Systems
In recent years, investors around the world have, in addition to conventional financial information, taken greater interest in environmental, social, and governance (ESG) information, which they have begun making concerted efforts to obtain.
The purpose of this report is to provide information on the ESG initiatives undertaken by JapanCor through its real estate asset management activities.
We hope to continue collaborating with investors, lenders, tenants, property management companies, hotel operators, local communities, and a wide variety of other stakeholders to advance the principles of ESG in our real estate investment management while enhancing the value of our assets over the medium to long term in an effort to improve our sustainability as an asset management company.
Systems for Advancing ESG
The following basic policy has been established for our ESG system.
ESG Policy
We consider environmental, social, and governance (ESG) initiatives to be an essential element in providing long-term value to investors and as such has established the following basic policy on ESG. In promoting this ESG system, we hope to improve our sustainability as an organization through collaboration with various stakeholders as a portfolio company for funds managed or advised by the Blackstone Group.
1. Climate Change Measures
We are committed to understanding the risks associated with climate change and are working to help reduce greenhouse gas emissions (GHG) such as carbon dioxide, a cause of climate change, as part of our efforts toward decarbonization. We are also proactively considering the use of renewable energy sources.
2. Transitioning to a Circular Economy
We monitor environmental data (energy, GHG, water use, and waste) for the real estate asset under our management strive to reduce its environmental impact as well as create opportunities for energy conservation through periodic assessments.
3. Leveraging Human Resources
Based on the belief that employees working for our company are valuable assets, we strive to create a good work environment that takes health, safety, and comfort into consideration. We also promote a policy of Diversity, Equity & Inclusion (DEI) based on this human resource policy to create an environment that fosters diversity and provide opportunities such as support for qualifications and training.
4. Stakeholder Initiatives
We collaborate with investors, lenders, tenants, property management companies, operators, local communities, and other diverse stakeholders involved in the real estate asset under our management to advance ESG initiatives.
5. Efforts to Strengthen Governance
We strive not only to comply with laws and regulations, but also to manage data properly, prevent corruption and conflicts of interest, and foster respect human rights and diversity.
ESG Committee
In response to investor demand for ESG initiatives, we have established the ESG Committee to deliberate important ESG issues that will help achieve sustainable growth for the asset management company and the funds it is entrusted to manage. The Committee is attended by the CEO and other members of the C-suite as well as representatives from each department and the ESG manager and is hosted at least once a quarter.
Identifying Materiality
We believe communication with stakeholders is key to achieving a sustainable society. We plan to use outside consulting firms to determine which issues are of the most importance and relevance to our stakeholders and company (materiality).