MITSUBISHI ESTATE CO., LTD.

In 2020, the Mitsubishi Estate Group launched the Long-Term Management Plan 2030. The plan aims to increase both social and shareholder value by treating these as inseparable strategic drivers and maximizing the synergies between them. The Group believes that this approach will help realize sustainable growth while ensuring that it delivers on its Mission, which is to create a truly meaningful society through urban development.

Also in place are the Mitsubishi Estate Group 2030 Goals for the SDGs (the "2030 Goals"). These are positioned at the heart of the Group's strategy for increasing social value, which comprises the four key themes of the environment, diversity & inclusion, innovation, and resilience. The Group has established KPIs and action plans for each of these themes.

As part of its initiatives to address the first theme, the environment, the Group has set targets for improving the waste recycling rate to 90% by 2030 and reducing waste emissions by 20% per m2 compared to fiscal 2019. It is also pursuing an SBTi-approved GHG emissions reduction target as well as its RE100 commitment to increase the percentage of renewable power it uses.

The Group's efforts to reduce waste are part of its efforts to create a sound material-cycle society, enshrined in the Mitsubishi Estate Group Basic Environmental Policy. With these efforts, the Group strives to reduce both pollutants and waste, and it practices reuse and recycling at each business phase — from planning, development, design, and construction, through management and dismantlement. Another approach the Group takes to waste reduction and resource conversation is increasing the lifespan of buildings, including by re-using existing building stock through renovation.

The Group is also working to create a sound material-cycle society by taking action in collaboration with diverse stakeholders, including both tenant companies and suppliers, as well as urban residents, building visitors and other stakeholders.

The Group has also set targets for the use of sustainable timber and is promoting the use of Japan-grown timber and internationally certified lumber. The Group has set the goal of ensuring that 100% of the timber it uses is certified lumber and/or domestic timber that complies with the Sustainable Sourcing Code or equivalent by 2030.

Moreover, as part of its efforts addressing diversity & inclusion and other human rights issues, the Group is working to ensure traceability and practicing sustainable procurement. These efforts address concerns raised by NGOs and other institutions that industry procurement of certain materials for concrete formwork panels used in construction of offices and housing can involve illegal logging, including the taking of indigenous peoples' lands and the destruction of the environment.

To achieve the 2030 Goals, the Group has incorporated its annual targets and initiatives related to the four key themes into annual plans for each organization and function. The Sustainability Committee tracks Group-wide progress and manages the process using the PDCA cycle. Target progress and detail are also regularly monitored by third-party organizations. Finally, achieving the annual plans is included as one of the qualitative evaluation criteria for determining officer remuneration.

URL

Mitsubishi Estate Group Sustainability Website

2030 Goals page

https://www.mec.co.jp/e/sustainability/goals/

Sustainability Activities (Environment > Waste)

https://www.mec.co.jp/e/sustainability/activities/environment/waste/