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Our Activities on Sustainable Properties November 11 th, 2013 Masato Ito Real Estate Advisory Department Sumitomo Mitsui Trust Bank, Limited A Member of.

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Presentation on theme: "Our Activities on Sustainable Properties November 11 th, 2013 Masato Ito Real Estate Advisory Department Sumitomo Mitsui Trust Bank, Limited A Member of."— Presentation transcript:

1 Our Activities on Sustainable Properties November 11 th, 2013 Masato Ito Real Estate Advisory Department Sumitomo Mitsui Trust Bank, Limited A Member of UNEP FI Property Working Group 審査済 ひな形 -024

2 2 SUMITOMO MITSUI TRUST BANK, LIMITED New approaches to promote sustainable properties(1) - Showing the way to increased net income Cash Expenses Net income Other Utilities Leasing & Mgt Maintenance Gross Income Taxes & Insurance Added value Net Income Other Utilities Leasing & Mgt Maintenance Taxes & Insurance Decreases by Energy Saving Decreases by Improvement of Durability Net Income Increases If the total income increases by quality improvement, carbon credit.. … “A note on environmental value added for real estate” (Masato Ito) On the occasion tenth anniversary commemorative article for Tokyo Association of Real Estate Appraisers, 2005 Conventional Properties Greener Properties

3 3 SUMITOMO MITSUI TRUST BANK, LIMITED New approaches to promote sustainable properties(2) - Showing the way to reduced risks Marketability environmental Capitalization rate Risk Free Rate Added value Environmental depreciation Depreciation Risk premium marketability Other Risk Free Rate When Durability of a building increases Green Real Estate may not be affected by future taxation,regulations and carbon credits thanks to its environmentally- friendly nature. “Image Improvement Effect” thanks to its environmentally- friendly nature. “A note on environmental value added for real estate”(Masato Ito) On the occasion tenth anniversary commemorative article for Tokyo Association of Real Estate Appraisers, 2005 Other Conventional Properties Greener Properties Capitalization Rate Reduces

4 4 SUMITOMO MITSUI TRUST BANK, LIMITED Creating simple, comparable, compatible system Covering common metrics Connecting to property appraisal Coexisting of “ For DfE ” version and “ For Investors ” version Rating Systems in the World (e.g. BREEAM, LEED, Green Star…) Common Metrics 6 items Current CASBEE approx. 110 items 1/10/2010 Masato Ito Image of very simple version of CASBEE items New approaches to promote sustainable properties (3) - Towards launching a very simple version of CASBEE

5 5 SUMITOMO MITSUI TRUST BANK, LIMITED New approaches to promote sustainable properties (4) - Simplifying environmental metrics to inform Creating Simple, Comparable and Compatible Systems Sharing worldwide “Common Metrics” Including each country’s particular items Underlined items: prerequisite items Marked items: Items of UNEP SB Index(draft) Energy consumption/ GHG emissions Target setting and monitoring, Energy Intensity/Carbon Intensity(calculated), Energy Intensity/Carbon Intensity(measured), Renewable Energy Water Target setting and Monitoring, Water Intensity(calculated), Water Intensity(measured) Material/Safe ty Earthquake-resistance, Exceeds of Earthquake-resistance, Seismic Isolation & Vibration, Damping systems, Recycled Materials Use, Service Life of Structure material, Ease of MEP Renewal, Increase Self- sufficiency Rate of Power Biodiversity/ Site Avoiding from immigrant Fauna & Flora, Preservation & Creation of Biodiversity, Soil Environmental Quality/Regenaration of Brown Field, Public transportation access, Measures to Risk of Natural Disaster Indoor Environment Indoor Environment Standard of buildings, Daylighting, Natural Ventilation, Access to view

6 6 SUMITOMO MITSUI TRUST BANK, LIMITED In Japan CASBEE is beginning to discuss with market participants a short form version of CASBEE metric (the CASBEE for Market Promotion tool.) In the US and Europe, LEED and BREEAM are also beginning to roll out ‘short-form’ versions of their better known measurement schemes, for existing stock. New approaches to promote greener buildings(5) - Investors require such concise systems This study argues that environmental property metrics users and suppliers must bridge the gap that separates them to successfully measure the environmental performance of property portfolios and related improvement activities.

7 For Reference – Correlation Between Rents and CASBEE Scores Scores (CASBEE for Market Promotion) Rents (Compared to Market Average) 7  38 buildings got the first certification of CASBEE for Market Promotion  8 of them owned by J-REIT.

8 8 SUMITOMO MITSUI TRUST BANK, LIMITED Our effort to promote sustainable properties(1) Providing Housing Loans for Environmentally Friendly Houses 1.Preferential rate housing loan which is based on the “CASBEE Kawasaki”. 2. Preferential interest rate loans for the purchase of environmentally friendly houses with built-in solar power generation systems.

9 9 SUMITOMO MITSUI TRUST BANK, LIMITED Our effort to promote sustainable properties(2) Sumitomo Mitsui Trust Bank’s Environmental Rating Loan offers preferential interest rates for companies promoting initiatives such as Environmentally friendly property. CSR Report 2011 The Sumitomo Mitsui Trust Group

10 10 SUMITOMO MITSUI TRUST BANK, LIMITED Our effort to promote sustainable properties(3) Sumitomo Mitsui Trust Bank’s Architecture Consulting -TOYO SEIKAN KAISHA Osaki Forest Building Subsidized as a Project for installation of advanced CO2 reduction facilities and systems. Creating a wide area of “Urban Forest” which is available not only for CO2 reduction by cooling the site but also preservation of biodiversity, adopting Japan Habitat Evaluation and Certification Program, JHEP. Aiming to increase value of building and company, through environmental friendliness. Toyo Seikan Kaisha, Ltd.’s new HQ building (conceptual drawing) Provided by Takenaka Corporation

11 11 SUMITOMO MITSUI TRUST BANK, LIMITED Our effort to promote sustainable properties(4) Developing indices and preferential loans -Fujisawa Sustainable Smart Town ① Aiming to realize Panasonic‘s concept of a safe, secure and sustainable smart town. Aiming to reduce CO2 emissions by 70%(vs. 1990). Sumitomo Mitsui Trust Bank is planning to offer preferential rate loans for environmentally-friendly houses. Sumitomo Mitsui Trust Bank is developing real estate assessment indices that facilitate market acceptance of environmentally-friendly urban development as real estate value. ( News Release by Panasonic Corporation, October 1, 2012) Central Park Daily life supporting facilities 1 Daily life supporting facilities 1 Daily life supporting facilities 2 Daily life supporting facilities 2 Housing Complex Zone Housing Complex Zone Advanced Activity Zone Advanced Activity Zone Welfare Healthcare Education Zone Welfare Healthcare Education Zone Detached House Zone Detached House Zone Detached House Zone Detached House Zone Location Kanagawa prefecture, Fujisawa city 計画概要 Area Approx 19ha Buildings Homes/Businesses/Public facilities PopulationApprox 3,000 ScheduleTown opening in Spring 2014 Budget Approx 750 Mil USD (\80)

12 12 SUMITOMO MITSUI TRUST BANK, LIMITED Our effort to promote sustainable properties(5) Developing indices and preferential loans -Fujisawa Sustainable Smart Town ② Developing real estate assessment indices that facilitate market acceptance of environmentally-friendly urban development as real estate value. Goals of Environmental Measurements to Achieve Economic Effects and Friendliness the Goals Environmental Added Value Environmental Targets 70% Reduction of CO2 Emission 30% Reduction of Water Consumption Energy Targets Over 30% of Renewable Energy Utilization Rate Safety/Security Targets 3 days of Lifeline Maintainance “ Wind Paths ”, “ Green Axis ” Car sharing Security Cameras Energy Creation, Storage, and Management Smart Energy Gateway Service Model for a Next- generation Lifestyle Community Platform ………. “ Wind Paths ”, “ Green Axis ” Car sharing Security Cameras Energy Creation, Storage, and Management Smart Energy Gateway Service Model for a Next- generation Lifestyle Community Platform ………. Utility Cost Reduction Management Cost Reduction Cost Reduction for Cars Improved Safety and Security Disaster/Blackout Risk Reduction Gaining “ Eco-points ” Preferential Rate Loan for Houses ……… Utility Cost Reduction Management Cost Reduction Cost Reduction for Cars Improved Safety and Security Disaster/Blackout Risk Reduction Gaining “ Eco-points ” Preferential Rate Loan for Houses ……… Image of real estate assessment indices

13 13 SUMITOMO MITSUI TRUST BANK, LIMITED Disclaimer This material is for informational purposes only, and are not intended to invite, solicit, mediate, broker, or sale products including real estate and financial instruments, services, rights or other transactions. Please use your own judgment when making final determinations on securities selection, investment decisions or use of this document. Furthermore, please consult with lawyers, tax advisors, public accountants or relevant parties, with regard to legal, tax, accounting or other issues. Although this material is prepared based on information which SMTB considers reliable, SMTB cannot be held responsible for their accuracy or completeness. In addition, as this document was prepared based on the information available at the time of preparation or research, all contents provided herein represent the judgments at the time at which the material was prepared. Forecasts, projections, or estimations included in this document are neither assured nor guaranteed. The contents of this document are subject to change without prior notice. All rights related to this document are reserved by SMTB. Copying, reproduction or revision of this document, in whole or in part, is not permitted without the prior consent of SMTB, irrespective of the purpose or method.


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