Materiality

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Determination of Materiality

  • GOR and GAR, the asset management company to which GOR entrusts the management of its assets, determine the following priority issues as materiality from among the issues listed below in order to address them preferentially.
  • When determining materiality, issues were reviewed from both perspectives of “impact on own business” considering the operational policy and asset characteristics of GOR, and “significance to stakeholders” referencing ESG evaluations for the real estate sector, GRI Standards and related issues recognized in SDGs, etc. The ESG Promotion Council of GAR then determined materiality by considering the opinions of an external expert (CSR Design Green Investment Advisory, Co., Ltd.).

Identified ESG Issues

Identified ESG-related issues Priority issues

Environment

Increasing the ratio of properties with environment-related certification in the portfolio
Adaptation to climate change
(Management and reduction of energy consumption and greenhouse gas (GHG) emissions, utilization of renewable energy)
Management and reduction of water consumption
Waste management and improving the waste recycling rate
Cooperation with tenants on environmental consideration
Consideration to biodiversity

Social

Improvement of tenant satisfaction
Improvement of employee performance and career development
(Employee satisfaction survey, establishment and enrichment of various training programs and employee benefits)
Establishment and expansion of various leave programs
(Maternity leave, childcare leave, off-peak commuting, etc.)
Consideration to health and well-being of employees
Contribution to local communities
(Consideration to health and well-being of tenants)
Disaster resilience

Governance

Measures to prevent conflict of interest
Prevention of bribery and corruption
Thorough compliance and risk management
Promotion of proactive information disclosure to investors, etc.
Internal whistleblowing system
Strengthening of information security

materiality_table

Relationship Between Determined Materiality and SDGs

Priority issues Action plan/target KPI
E
Acquisition of environment-related certification
  • Increase the ratio of properties with external certification such as DBJ Green Building Certification, CASBEE for Real Estate, BELS certification, etc
    【increase the coverage rate to 100% by fiscal 2030】
Coverage rate within portfolio
Cooperation with tenants
  • Conclusion of green lease agreements
  • Raising awareness of environmental consideration among tenants
Implementation rate within all contracts
Mitigating and Adapting to Climate Change
(Management and reduction of energy consumption, etc.)
  • Reduction of energy consumption
    Intensity
    【Average -1%/year, -5%/5 years】
  • Reduction of greenhouse gases (GHG)
    Emissions intensity
    【35% reduction by fiscal 2030
    Realization of net zero emissions 2050】
  • Reduction of water consumption
    Intensity【Average -0.2%/year, -1%/5 years】
  • Improvement of waste recycling rate
    Recycling rate
    【Average +0.1%/year, +1%/10 years】
  • *All targets are based on the figures for fiscal 2018
Energy consumption intensity
Greenhouse gas (GHG) emissions* intensity
Water consumption intensity
Waste recycling rate
Amount of renewable energy generation
*Limit to energy-related CO2 emissions intensity

Related SDGs and Targets

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  • By 2030, double the global rate of improvement in energy efficiency
  • By 2030, reduce the adverse per capita environmental impact of cities, including by paying special attention to air quality and municipal and other waste management
  • By 2030, substantially reduce waste generation through prevention, reduction, recycling and reuse
  • Strengthen resilience and adaptive capacity to climate-related hazards and natural disasters in all countries
S
Improvement of employee performance and career development
  • Enrichment of employee benefits
  • Implementation of employee satisfaction survey
  • Establishment of various training systems and expansion of support for qualification acquisition of employees
  • Introduction of highly transparent new personnel evaluation and remuneration system
  • Revitalization of in-house communication
Implementation rate of employee satisfaction survey, response rate, training hours
Percentage of employees holding qualifications
Respect for human rights and promotion of diversity
  • Promotion of diversity, equity and inclusion (DEI)
  • Implementation of training related to human rights and DEI
Employee-related data
Number of yearly trainings
Promotion of comfortable work environment and work-life balance
  • Promotion of remote work and consideration of use of shared offices
  • Promotion of talking paid holidays and reduction of overtime work
  • Implementation of employee engagement survey
  • Redevelopment of system infrastructure and promotion of office automation for the purpose of improving operational efficiency
Average number of paid vacation days taken
Rate at which paid holidays are taken
Average overtime working hours
Average employee engagement score
Stakeholder engagement
  • Improvement of customer satisfaction through the implementation of tenant satisfaction survey
  • Contribution to local community
Implementation rate of tenant satisfaction survey

Related SDGs and Targets

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  • By 2030, substantially reduce the number of deaths and illnesses from hazardous chemicals and air, water and soil pollution and contamination
  • By 2030, ensure that all learners acquire the knowledge and skills needed to promote sustainable development, including, among others, through education for sustainable development and sustainable lifestyles, human rights, gender equality, promotion of a culture of peace and non-violence, global citizenship and appreciation of cultural diversity and of culture’s contribution to sustainable development
  • By 2030, achieve full and productive employment and decent work for all women and men, including for young people and persons with disabilities, and equal pay for work of equal value
  • By 2030, ensure that people everywhere have the relevant information and awareness for sustainable development and lifestyles in harmony with nature
G
Thorough compliance and risk management
  • Confirmation of status of compliance with laws and regulations, etc.
  • Appropriate risk management through frameworks including the elimination of conflict of interest transactions
Attendance rate of
compliance training
Number of risk assessments implemented per year
Number of internal audits implemented per year
Prevention of corruption
  • Blocking relations with antisocial forces
  • Elimination of risks of involvement in money laundering and financing terrorists
Promotion of proactive information disclosure
  • Intend to expand ESG information through disclosed materials, etc. and further promote proactive information disclosure to stakeholders
  • Issuance of ESG Report

Related SDGs and Targets

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  • Substantially reduce corruption and bribery in all their forms
  • Ensure responsive, inclusive, participatory and representative decision-making at all levels

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