CSR DESIGN CSR Design Green Investment Advisory, Co., Ltd.

BUSINESS

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Services for Real Estate and
Infrastructure Sectors

Support in Improving ESG Assessment

01.GRESB
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GRESB（http://gresb.com/）, is an annual benchmarking assessment that measures the Environmental, Social and Governance (ESG) integration of companies and funds in the real estate and infrastructure sectors. We provide comprehensive support for GRESB participation and results analysis.

For more information on GRESB, please click here.

Our Strengths

We have been promoting GRESB in the Japanese market since 2011 and are the designated Premier Partner for Japan.
As active members of various GRESB committees and working groups, we stay informed about assessment criteria developments and relay relevant information between GRESB and the Japanese market.
This expertise and our long-standing relationship with GRESB allow us to provide precise support for accurate reporting and score improvement.

Our Consulting Services

Participation Support

We offer one-stop services for GRESB participation, providing tools and guidance to over 100 companies annually, including J-REITs, private REITs, private funds, real estate developers, and infrastructure companies. Our support includes:

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  • ●Japanese-language survey forms, reference guides*, response tools, and webinars*

    ●Advice for your responses and consistency checks

    ●Pre-submission score calculations*

  • ●Translation of responses into English and online input

    ●Assistance during the Validation and the Review Period

*For Real Estate only

Response Analysis

We analyze your GRESB assessment results, comparing them with other participants in Japan.
Our detailed and easy-to-read reports in Japanese summarize your response data and highlight trends in various aspects and indicators. We also identify potential issues for the following year, estimate score improvement, and suggest future initiatives. (For Real Estate only.)

Provisional Response Analysis (Gap Analysis)

For companies considering GRESB participation, we offer a provisional response analysis. This service calculates your potential score and identifies areas for improvement based on a hypothetical participation in the most recent assessment. This service is useful not only for gathering information from your company and relevant business partners prior to participation, but also for expanding your initiatives in anticipation of participation.

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02.CDP
CDP ACCREDITED PROVIDER 2023

CDP is an international NGO that promotes corporate environmental reporting. In its five-year strategy "Accelerating the rate of change" (2021 - 2025), CDP outlines the ways to broaden its scope of environmental reporting to cover new themes like biodiversity, ocean, land use, food production and waste, beyond the current focus on climate change, water security, and deforestation.

Key developments in CDP’s strategy include the introduction of these categories by 2025, with annual updates to address emerging trends and requests of investors, such as biodiversity-related questions in the 2022 Climate Change Questionnaire and plastics-related questions in the 2023 Water Security Questionnaire. In 2024, CDP incorporates the International Sustainability Standards Board (ISSB) climate-related disclosure standards (IFRS S2), enhancing global consistency in sustainability disclosures.

Disclosing companies have also increased with all Tokyo Stock Exchange Prime Market companies included in the Climate Change Questionnaire in 2022 and the Water Security Questionnaire further expanding its reach in 2023. In 2024, CDP streamlines the previous climate change, water security, and forest questionnaires by introducing an integrated corporate questionnaire for more holistic environmental reporting. With the need to simultaneously solve the twin crisis of climate and nature and to take both into consideration, companies are increasingly asked to respond to various environmental issues and disclose information about them.

The real estate and infrastructure sectors, which significantly impact climate, water, and deforestation, will face heightened disclosure requirements, driving more detailed reporting and action on various environmental fronts.

Our Strengths

As a scoring partner of CDP in the climate change and forest areas since 2021, with expertise expanded to water areas in 2023, we offer robust support for companies to respond to CDP questionnaires. Our strengths include ESG disclosure support, with expertise in TCFD compliance, climate change risk analysis and SBTi certification. Additionally, our participation in the TNFD Forum ensures we stay ahead with the latest disclosure frameworks. With this knowledge, we support real estate and infrastructure companies in responding to CDP questionnaires.

Our Consulting Services

Support in Preparing Responses and Follow Up

Our consulting services include comprehensive preparation support, guiding companies from summer to winter every year with detailed explanations, response tools, and advice. We help estimate scores and identify areas for improvement. For submission and follow up, we assist with administrative procedures, questionnaire changes, and provide detailed explanations and analysis of CDP Score Reports to address scoring issues.

Our goal is to help real estate and infrastructure companies effectively navigate CDP’s expanding and integrating questionnaires, enhancing their environmental disclosures and performance.

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03.PRI
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The Principles for Responsible Investment (PRI) was established in 2006 by former United Nations Secretary-General Kofi Annan alongside the United Nations Environment Programme Finance Initiative (UNEP FI) and the United Nations Global Compact. PRI sets forth six principles for responsible investment. These principles include the integration of Environmental, Social, and Governance (ESG) issues into the investment decision-making process to promote a long-term sustainable international financial system.
Investors may become PRI signatories by demonstrating their commitment to the Principles, and must submit an annual report on their responsible investment (RI, so-called ESG investment) practices every year.

The six Principles for Responsible Investment
  1. We will incorporate ESG issues into investment analysis and decision-making processes.
  2. We will be active owners and incorporate ESG issues into our ownership policies and practices.
  3. We will seek appropriate disclosure on ESG issues by the entities in which we invest.
  4. We will promote acceptance and implementation of the Principles within the investment industry.
  5. We will work together to enhance our effectiveness in implementing the Principles.
  6. We will each report on our activities and progress towards implementing the Principles.

Our Strengths

As a PRI signatory since 2012, we have led PRI Japan real estate and infrastructure working groups and currently serve on the Real Estate Advisory Committee and Japan Advisory Committee. With deep ESG expertise across real estate, infrastructure, asset owner, and financial sectors, we provide comprehensive support to signatory institutions when preparing their annual PRI reports.

Our Consulting Services

Annual PRI Report Preparation

We provide the following one-stop services for PRI signatories:

・Explanation of the annual report and response process

・Japanese version of the response sheet

・Advice on the responses and consistency check

・English translation of responses and online submission

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04.MSCI
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MSCI publishes ESG indexes, such as the MSCI Japan ESG Select Leaders Index, which lists selected companies that excel in ESG based on the MSCI ESG Ratings. In a world where ESG ratings are factored into the investment process, standing out is more important than ever.

Our Strengths

We offer expert advice to issuers on improving their ESG ratings and analyzing competitors’ ratings, drawing on our extensive ESG expertise in the real estate and infrastructure sectors and data from MSCI.

Our Consulting Services

Analysis of Current Assessment

We compare your ESG ratings report with your existing initiatives and disclosed information to identify areas where improvements can be made. This analysis includes benchmarking against the J-REIT and real estate sectors.

Strategic Disclosure Advice

We provide guidance on enhancing your disclosures to boost MSCI ratings, focusing on structure, content, and wording, as well as reviewing your drafts.

Proactive Feedback Support

We provide support for compiling feedback drafts for the MSCI Issuer Portal to ensure your ESG disclosures are more accurately assessed. We track the results and provide ongoing support to maintain your ratings.

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Support for Sustainability System Establishment

01.Officer and Employee Training ・Supplier Training

We design and conduct sustainability/ESG themed training for real estate developers, asset managers, property managers, and infrastructure fund/asset managers.

Our Strengths

We stay ahead of global sustainability and ESG trends, bringing you timely and relevant information. Leveraging our extensive consulting experience in the real estate and infrastructure sectors, we ensure officers and employees understand the importance of sustainability and ESG by highlighting recent industry trends and their implications.

Our Consulting Services

Officer and Employee Training

We develop and deliver customized sustainability/ESG training programs for officers and employees of developers and asset managers. Training for property managers and tenants is available upon request.

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02.Support for Identification of Material Issues

Addressing sustainability issues like climate change and human rights is crucial for the long-term value of corporate activities. Integrating these issues into corporate management is essential for sustainable growth. The materiality identification process helps prioritize these issues by considering your corporate mission, regulatory landscape, and stakeholder interests.

Our Strengths

With deep expertise in the real estate and infrastructure sectors, we tailor the identification process of material issues to your specific needs. We advocate for cross-departmental involvement, ensuring that managers and departments are engaged in aligning materiality with management strategy and planning. Our extensive network allows us to incorporate insights from stakeholders and experts.

Examples of Our Consulting Services

We guide you through the materiality assessment process using a long list of items which are asked in global ESG ratings and ESG disclosure frameworks relevant to real estate companies and J-REITs, including GRI, CDP, and GRESB standards. This list is quantified based on the importance of each topics, considering your business environment and strategies. We recommend involving management and departments in the process and facilitate dialogues with stakeholders and experts.

Once materiality is identified, we provide support for its disclosure on your website and reports, offering advice on relevant indicators and targets.

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03.Support for Policy Development

We support the establishment of corporate structure through the development of “Sustainability Policies” (or “ESG Policies”) and various policies that are predicated on sustainability initiatives. After extensive meetings with our clients, we tailor-make policies to align with asset management policies and current workflow. We also provide support for the development of new policies and updating of existing policies, such as climate change/resilience policy and DEI (Diversity, Equity, and Inclusion) promotion policy.

Our Strengths

As the push towards sustainability grows, the need for more practical initiatives becomes ever stronger. Our consulting experience in sustainability/ESG in the real estate and infrastructure sectors has earned us a first rate portfolio, enabling us to provide support in line with the industry’s latest activities and to develop policies with a view to each company's future initiatives.

Our Consulting Services

We help in the development of tailor-made corporate policies such as:

Sustainability Policy

We support the development of major policies that are predicated on sustainability initiatives. Real estate companies and funds need sustainability policies that reflect their respective characteristics and add to their market value.

Sustainability Promotion System Regulation

We develop regulations that define the corporate structure (impacting decisions about which personnel should be responsible for which activities, the formation of committees, and reporting processes) to manage sustainability initiatives.

Energy Management Policy

We develop specific policies on energy saving and the utilization of renewable energy in property management. We believe energy policies, along with policies on GHG emissions Management, should be given top priority.

Environment Management System (EMS) Manuals

Based on the individual policies for energy, GHG, water, and waste, etc. we create manuals for the purpose of establishing, operating, and maintaining (creation of systems) in order to efficiently and effectively reduce environmental burden in accordance with the PDCA cycle. These manuals are created with a view to future Eco-Action 21 initiatives.

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Support for Sustainability Information Disclosure

01.Climate Change Response

After the pivotal Paris Agreement in 2015, the disclosure of information in accordance with TCFD recommendations (disclosure of regimes and risks associated with climate change) has spread widely, with initiatives for decarbonization and the enhancement of resilience progressing day by day. In 2020, Japan declared that it would achieve a decarbonized society by 2050, and internationally, it was agreed to pursue efforts to limit temperature increase to 1.5°C at COP26 (the 26th Conference of the Parties to the United Nations Framework Convention on Climate Change) in 2021 and to transition away from fossil fuels at COP28 in 2023.

In 2023, the International Sustainability Standards Board (ISSB) released sustainability disclosure standards, and in 2024, the Sustainability Standards Board Japan (SSBJ) released an exposure draft of sustainability disclosure standards in Japan. Both the market and society are increasingly demanding that companies address climate change.

Our Strengths

Our analyses capture investors’ expectations based on the latest trends of climate change-related information disclosure and climate scenarios conducted by our researchers and consultants, in light of international trends of risk analysis that CRREM (Carbon Risk Real Estate Monitor, described below) committee, we are a member of it, gives us.

Our Consulting Services

Qualitative Analysis on Financial Impact

We support the establishment of a foundation for cross-organizational initiatives on climate change-related issues involving management level, through training for your officers and employees and support for the development of a climate change policy. We also provide support for information disclosure in line with TCFD recommendations, ISSB Sustainability Disclosure Standards, and SSBJ Sustainability Disclosure Standards, through qualitative scenario analyses of the financial impact of climate risks and opportunities on your business.

Quantitative Analyses on Financial Impact

We conduct quantitative analyses of the financial impact of climate risks and opportunities on business. In addition to quantifying business risks and opportunities using various literature and statistics, we conduct analyses on transition risks using CRREM (see later section) and constructive analyses on physical risks using GIS (Geographic Information Systems).

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    Creation of waterfall chart based on quantification
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    Space analysis of properties using GIS
Decarbonization Roadmap and Transition Plans

We support you develop a roadmap for achieving net zero, an important component of the transition plan required by the CDP, TCFD, ISSB, etc., using our tools (allowing you to create roadmaps for the entire organization and for each application).

In addition, we support your organization formulate a comprehensive transition plan to address climate-related risks and opportunities, covering governance, financial planning, and engagement, with reference to the TCFD, CDP, etc.

CRREM Analyses

  • We conduct analyses on risks of stranded assets (excessive carbon emission reduction pathways) of individual property in portfolios and the entire portfolio, using CRREM (Carbon Risk Real Estate Monitor) which visualizes real estate transition risks. In the analyses, we sort out and report the results of changes in transition risks when energy efficiency retrofits and renewable energy are introduced. (See chart on the right for an example)

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    Sorting out the analysis condition
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    Ratio of stranded assets in portfolio
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    Analysis result for each property
SBT Setting and Application

  • SBT (Science-Based Targets) is greenhouse gas (GHG) reduction target that are scientifically consistent with the targets set by the Paris Agreement (which limits global temperature increase to well below 2℃ above pre-industrial levels, and more specifically to 1.5℃). We support the development of GHG emissions reduction targets and application processes for SBTi (Science-Based Target Initiatives) to receive SBT certification.

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    Support for development of GHG emissions reduction pathway
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    Support for SBTi application process
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02.ESG in General

In recent years, sustainability information disclosure has become a hot topic both domestically and internationally. The ISSB (International Sustainability Standards Board), under the IFRS Foundation, has developed global standards, while the SSBJ (the Sustainability Standards Board of Japan) has developed standards for Japan.

Our Strengths

Leveraging our deep expertise in the real estate and infrastructure sectors, we support tailored sustainability information disclosure. Our team stays abreast of the latest trends in sustainability information reporting to offer advice.

We provide comprehensive ESG disclosure support referencing frameworks including GRI and SASB, and ESG ratings such as MSCI and FTSE. We also provide advice on disclosure in light of the domestic and international trend toward greater disclosure of sustainability information.

Our Consulting Services

Support for Sustainability Disclosure in accordance with GRI

  • The GRI (Global Reporting Initiative), established in 1997, develops standards for sustainability reporting. Used by more than 10,000 organizations in over 100 countries, it is recognized the world’s most widely used sustainability reporting standards. Since GRI Standard 2021, a revised version of the GRI Standards, was released in October 2021, all reports prepared in accordance with GRI and published after January 2023 must comply with these updated standards.

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    Source: System of GRI Standards , GRI 1: Foundation 2021

We compare your current disclosures with the GRI requirements, advise on new disclosures, and support on the preparation of the GRI Content Index.

Support for SASB-compliant Disclosure

The SASB (Sustainability Accounting Standards Board), established in the United States, developed sector-specific standards, which are currently used globally. After being integrated in the IFRS foundation, SASB standards, referred to by ISSB Standards, are gaining more significant attention in recent years.

We help you prepare your SASB Content Index by providing participants in the GRESB Real Estate Assessment with a tool that allows them to use the reporting for the GRESB.

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Advice on Impact Assessment and
Provision of Opinion on Impact Investment

01.Advice on Impact Assessment and Provision of Opinion on Impact Investment

We carefully examine your real estate investment project to ensure it aligns with established frameworks*, and provide advice on whether it is consistent with their requirements. If the project meets these standards, we issue a third-party opinion. We also offer guidance on impact real estate investment during the formation stage, explaining the requirements and advising on how to meet them.

* Positive Impact Finance Principles, Positive Impact Real Estate Investment Framework, United Nations Environment Programme Finance Initiative (UNEP FI); Concept Paper on Impact Finance, Ministry of the Environment; Practical Guidance for “Social Impact Real Estate,” Ministry of Land, Infrastructure, Transport and Tourism; etc.

Our Strengths

With extensive involvement in formulating positive impact finance frameworks at home and abroad, we stay up-to-date through our achievements and networks. Our CEO, Ryuichi Horie, played a pivotal role as an advisor to the UNEP FI Property Working Group, and contributed to the Ministry of Land, Infrastructure, Transport and Tourism’s Practical Guidance for “Social Impact Real Estate.” Our research group also served as the secretariat for the Ministry of the Environment’s Positive Impact Finance Task Force, contributing to the Concept Paper on Impact Finance and the Green Impact Assessment Guide in FY 2020.

Our Consulting Services

Description of the Basics of Impact Investment

We provide essential information on positive impact investment principles, frameworks, and key concepts to help you understand and implement your projects.

Advice on Structuring Impact Investment Projects

We analyze your project intentions against established frameworks to identify positive impacts and manage negative ones. We offer guidance on adjustments needed to qualify as impact investments as well as design monitoring indicators.

Provision of Third-party Opinion

We issue third-party opinions in Japanese (and a summary in English) confirming your project’s compatibility with existing frameworks.

Typical examples of a third-party opinion include:
  • ●Third-Party Opinion on List of Impact KPIs for Social Impact Real Estate Investment and Finance of MUFG Bank, Ltd., February 22, 2024
  • ●Third-party opinion on the impact investment regarding Meiji Yasuda Hall Fukuoka of Meiji Yasuda Life Insurance Company, October 6, 2023
  • ●Third-party opinion on the impact investment regarding KARUIZAWA COMMONGROUNDS of Japan Metropolitan Fund Investment Corporation, March 30, 2022
  • ●Third-party opinion on the impact investment project of the Dai-Ichi Life Insurance Co., Ltd. related to the refurbishment of properties under management of Obihiro City, March 30, 2021
  • ●Third-party opinion on the impact investment project of Industrial & Infrastructure Fund Investment Corporation, January 9, 2019
Provision of an Impact Measurement and Management (IMM) Confirmation

To ensure proper Impact Measurement and Management (IMM), we verify that your project’s positive and negative impacts are appropriately measured and managed, and that the results are effectively integrated into business administration.

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Services for Governmental Agencies,
Public Institutions, and Business Companies

01.Overseas Trend Research and Recommendations on Sustainable Finance

We research the latest global and domestic trends in sustainable finance, offering actionable recommendations for government agencies, international institutions, and other organizations.

Our Strengths

Our team of experts, holding advanced degrees from prestigious international universities, excels in multilingual research across various fields including politics, economics, law, finance, and natural sciences. We leverage our extensive networks with UNEP FI, PRI, PCAF, GRESB, CDP, TNFD Forum and more to provide timely, multifaceted insights. This allows us to stay ahead of the curve and deliver nuanced, up-to-date advice.

* UNEP FI: United Nations Environment Programme Finance Initiative
PCAF: Partnership for Carbon Accounting Financials
PRI: Principles for Responsible Investment
TNFD: Taskforce on Nature-related Financial Disclosures

Our Services

Research for Government Agencies

We specialize in sustainable finance, ESG investment, and impact investing for government agencies. Our experience includes international trend research on energy efficiency and decarbonization policies in countries and cities, focusing on building and real estate sectors, and studies on recent developments in sustainable finance and climate change, biodiversity and ecosystem conservation, circular economy, and hazardous chemicals.

Achievements

  • Project on Green Finance Market Promotion (Ministry of the Environment of Japan, subcontracted)

    We conducted research on key themes to form a sustainable finance market in Japan and analyzed global biodiversity conservation trends, greenwashing prevention measures, and provided insights into national policies.

  • Research Project on Green Finance Model Cases (Ministry of the Environment of Japan)

    We reviewed and summarized two of the model cases in the Impact Finance category under the Ministry of the Environment's 2021 "Green Finance Model Case Creation Project." We also explored Green FinTech trends in Singapore and Switzerland, and assessed their applicability in Japan.

  • Studies on Overseas Emissions Trading Schemes (Tokyo Metropolitan Government)

    Our report covered schemes such as the EU ETS and CORSIA, carbon capture technologies such as DACCS and BECCS, and the current status of carbon crediting.

    * EU ETS: EU Emissions Trading System
    CORSIA: Carbon Offsetting and Reduction Scheme for International Aviation
    DACCS: Direct Air Carbon Dioxide Capture and Storage
    BECCS: Bioenergy with Carbon Capture and Storage

  • Project on Practical ESG Finance (Ministry of the Environment of Japan, subcontracted)

    We identified global trends on sustainable finance, extending from sustainability disclosure standards published by ISSB and EFRAG, biodiversity footprint measurement (i.e. PBAF), to GFANZ guidance on net-zero transition planning.

    * ISSB: International Sustainability Standards Board
    EFRAG: European Financial Reporting Advisory Group
    PBAF: Partnership for Biodiversity Accounting Financials
    GFANZ: Glasgow Financial Alliance for Net Zero

  • Development of Green Finance Portal (Ministry of the Environment of Japan, subcontracted)

    We researched and reported on international policy trends in sustainable finance, including climate-related disclosures aligned with TCFD recommendations, regulations pertinent to corporate sustainability disclosures, and sustainability taxonomy.

    *TCFD: Task Force on Climate-related Financial Disclosures

  • Analysis on Impact Finance (Ministry of the Environment of Japan)

    Served as the secretariat, we developed a concept paper and an assessment guide for impact finance, incorporating the latest developments and examples.

  • Project on ESG Finance Expansion (Ministry of the Environment of Japan, subcontracted)

    We carried out interviews and studies on global impact investing frameworks and assessed their relevance to Japanese market.

  • Emissions Trading Systems in Overseas Jurisdictions (Tokyo Metropolitan Government)

    We examined reforms in emissions trading systems, focusing on EU ETS and RGGI in the United States.

    * RGGI: Regional Greenhouse Gas Initiative

  • Climate Change Measures in Overseas Jurisdictions (Tokyo Metropolitan Government)

    We developed policy maps and conducted case studies on energy efficiency measures in buildings adopted by local municipalities around the world.

Research for International Institutions

We conduct comprehensive research on sustainable finance measures in Japan and overseas, issuing questionnaire surveys to financial institutions and interviewing relevant stakeholders.

Achievements
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02.Research and Recommendations for Energy Efficiency and Decarbonization of Buildings and Cities

We leverage our extensive network of domestic and international entities in real estate, infrastructure, and ESG investment to provide tailored information on sustainability measures for buildings and cities. Please do not hesitate to consult us if you need any assistance.

Our Strengths

As GRESB’s recommended Premier Partner for Japan, we combine our global expertise with insights from our research team, experienced in working with governmental agencies. We deliver customized reports on your desired themes in your preferred format.

Our Consulting Services

Research on Advanced Cases Overseas

We investigate regional development, sustainability measures, and certification systems used by overseas developers, delivering results in your specified format.

Research on Building Decarbonization Regulations

We analyze policy trends and regulations at both national and city levels, providing detailed reports on decarbonization plans and building regulations.

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Services for Asset Owners
and Financial Institutions

01.Consulting on ESG Investing and Financing in the Real Estate and Infrastructure Sectors

Asset owners and financial institutions are pivotal in driving sustainable economic growth. National and international initiatives, such as the Principles for Responsible Investment (PRI), emphasize the importance of sustainable investment and lending practices. To meet societal expectations and achieve a balance between economic returns and sustainability, these institutions must integrate ESG factors into their financing processes.

Our Strengths

As a premier partner of GRESB, we possess cutting-edge and comprehensive expertise in ESG trends in real estate and infrastructure. Our deep knowledge and global insights enable us to guide asset owners and financial institutions in effectively incorporating ESG factors into their real estate and infrastructure investing and financing strategies.

Our Consulting Services

Support for Establishing ESG-Integrated Investment and Financing Processes

We assist asset owners and financial institutions in embedding ESG factors into their existing investment and financing processes for real estate and infrastructure. By evaluating the ESG-responsive features of various property types (e.g., office, retail, hotel), we provide tailored guidance on prioritizing relevant ESG factors during investment execution and allocation.

ESG integration Reporting

Beyond consulting, we generate comprehensive reports that objectively assess the ESG integration within investment and financing processes. These third-party reports validate the appropriateness of ESG strategies, serving as compelling documentation to enhance market credibility and appeal.

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02.Climate Change Consulting

Since the pivotal Paris Agreement in 2015, global efforts toward decarbonization and resilience have steadily advanced. Japan aims to achieve a decarbonized society by 2050, and international commitments at COP26 and COP28 are pushing for a temperature increase limit of 1.5°C and a transition away from fossil fuels. With new sustainability disclosure standards from the ISSB (the International Sustainability Standards Board) and SSBJ (the Sustainability Standards Board Japan), the pressure on companies to address climate change is intensifying.

Our Strengths

We equip financial institutions with the tools to navigate climate change challenges, leveraging the latest climate-related disclosures, scenarios, and global decarbonization trends, drawing on the expertise of our researchers and our experience as the PCAF Japan Secretariat.

Our Consulting Services

Analysis of Climate Change-Related Risks and Opportunities

We deliver comprehensive (both quantitative and qualitative) analyses of the financial impacts of climate change on your business. Our expertise includes interpreting climate-related scenarios by the IPCC, IEA, and NGFS, quantifying risks and opportunities, analyzing investment and loan portfolios, conducting transition risk analyses using CRREM, and physical risk assessments using GIS. We also provide guidance on climate-related disclosures.

Materiality Development Support

Our approach to identifying materiality involves a thorough review of global ESG assessments and disclosure frameworks. We recommend involving management and various departments to ensure alignment with your business environment and strategy, and we facilitate stakeholder and expert engagement. We assist with the disclosure of materiality on your website and in reports, advising on appropriate metrics and targets.

Sustainability Policy and Sustainability Promotion System Development

We formulate sustainability policies that reflect your company's materiality, existing policies, strengths, and regulatory requirements. Our services include designing sustainability promotion systems that integrate seamlessly with your governance structure.

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03.Advice on Impact Assessment and Provision of Opinion on Impact Investment

We offer expert advice and comprehensive services for assessing the impact of your investments and loans. Our evaluations ensure your projects align with established frameworks*, providing you with a thorough analysis of environmental and social impacts. We verify your project’s adherence to recognized standards, and when consistency is confirmed, we issue credible third-party opinions.

* Positive Impact Finance Principles, Positive Impact Real Estate Investment Framework, United Nations Environment Programme Finance Initiative (UNEP FI); Concept Paper on Impact Finance, Ministry of the Environment; Practical Guidance for “Social Impact Real Estate,” Ministry of Land, Infrastructure, Transport and Tourism; etc.

Our Strengths

With extensive involvement in formulating positive impact finance frameworks at home and abroad, we stay up-to-date through our achievements and networks. Our CEO, Ryuichi Horie, played a pivotal role as an advisor to the UNEP FI Property Working Group, and contributed to the Ministry of Land, Infrastructure, Transport and Tourism’s Practical Guidance for “Social Impact Real Estate.” Our research group also served as the secretariat for the Ministry of the Environment’s Positive Impact Finance Task Force, contributing to the Concept Paper on Impact Finance and the Green Impact Assessment Guide in FY 2020.

Our Consulting Services

Description of the Basics of Impact Investment

We provide essential information on positive impact investment principles, frameworks, and key concepts to help you understand and implement your projects.

Advice on Structuring Impact Investment Projects

We analyze your project intentions against established frameworks to identify positive impacts and manage negative ones. We offer guidance on adjustments needed to qualify as impact investments as well as design monitoring indicators.

Provision of Third-party Opinion

We issue third-party opinions in Japanese (and a summary in English) confirming your project’s compatibility with existing frameworks.

Typical examples of a third-party opinion include:
  • ●Third-Party Opinion on List of Impact KPIs for Social Impact Real Estate Investment and Finance of MUFG Bank, Ltd., February 22, 2024
  • ●Third-party opinion on the impact investment regarding Meiji Yasuda Hall Fukuoka of Meiji Yasuda Life Insurance Company, October 6, 2023
  • ●Third-party opinion on the impact investment regarding KARUIZAWA COMMONGROUNDS of Japan Metropolitan Fund Investment Corporation, March 30, 2022
  • ●Third-party opinion on the impact investment project of the Dai-Ichi Life Insurance Co., Ltd. related to the refurbishment of properties under management of Obihiro City, March 30, 2021
  • ●Third-party opinion on the impact investment project of Industrial & Infrastructure Fund Investment Corporation, January 9, 2019
Provision of an Impact Measurement and Management (IMM) Confirmation

To ensure proper Impact Measurement and Management (IMM), we verify that your project’s positive and negative impacts are appropriately measured and managed, and that the results are effectively integrated into business administration.

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04.Training Sessions for Executives and Employees on ESG, TCFD, etc.

We organize and deliver comprehensive training sessions on sustainability and ESG topics, tailored for executives and employees of asset owners and financial institutions.

Our Strengths

We bring the latest global sustainability and ESG trends directly to you, drawing from our roles as PCAF Japan secretariat, and advisors to initiatives like the PRI and PFA21 (the 21st Century Principles of Financial Conduct). Our in-depth industry knowledge ensures you receive timely updates and insights. We aim to foster a deep understanding among executives and employees on the critical importance of sustainability and ESG compliance.

Our Consulting Services

Training Sessions for Executives and Employees

We offer targeted training sessions on sustainability and ESG, including specialized themes such as TCFD, PCAF, and sustainable finance/impact investing. Our sessions are customized to meet your specific needs, ensuring relevant and actionable insights for your organization.

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