NOMURA REAL ESTATE MASTER FUND, INC.

TSE code :3462

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International Initiatives and Certifications

Signatory to PRI and UNEP FI

Nomura Real Estate Asset Management Co., Ltd. (NREAM), to which Nomura Real Estate Master Fund, Inc.(NMF) entrusts the management of its assets, has become a signatory to the Principles for Responsible Investment(PRI) and the United Nations Environment Programme Finance Initiative (UNEP FI) in December 2017 based on the idea that asset management considering ESG is essential to the sustainable growth of the asset value.

For details, please refer to the press release dated December 18, 2017PDF(211KB)

External Evaluation

1. Participation in GRESB
1-1. GRESB
Global Real Estate Sustainability Benchmark (GRESB) is a benchmark survey established by major European pension fund groups to measure ESG considerations of real estate firms and management institutions.
In its assessment, rather than simply focusing on individual real estate holdings, GRESB evaluates real estate companies, REITs and private real estate funds on the basis of their sustainability initiatives, thus distinguishing itself from other real estate-related ESG benchmarking programs.
GRESB is widely used as a standardized rating system to assess investees' ESG initiatives, which have become a key factor affecting institutional investors' investment decisions from a long-term perspective.
In 2017, 850 real estate companies and funds participated in the assessment, representing more than 77,000 assets across 62 countries, with a value of USD 3.7 trillion.
Furthermore, Nomura Real Estate Asset Management Co., Ltd. (NREAM), NMF's Asset Management Company, became a member of the GRESB Real Estate Assessment in 2017. Going forward, NREAM will continue to participate in GRESB assessments and work to promote sustainability.

Please click here (English website) for details of GRESB.

1-2. GRESB Real Estate Ratings
Under the GRESB program, Nomura Master Fund received a “Green Star” rating for a second consecutive year. The “Green Star” rating is bestowed only to applicants that earn outstanding evaluations in terms of “management & policy” and “implementation & measurement”-two operational dimensions subject to assessment in light of efforts aimed at addressing environmental concerns and sustainability issues. We received a “5-Star” rating, the highest under a five-grade evaluation system that reflects global ranking based on an applicant's total scores.

GRESB

<The factors that helped it earn these ratings>
・Initiatives to secure robust collaboration and partnerships with stakeholders
・Efforts aimed at enhancing the content of information disclosure pertaining to its sustainability initiatives
・A proactive attitude toward acquiring “Green Building” and other such certifications

1-3. GRESB Public Disclosure Level Evaluation Scheme
We received an “A” rating, the highest rating given under the five-grade GRESB Public Disclosure Level evaluation scheme introduced in April 2017 for our proactive information disclosure practices in connection with environmental and sustainability initiatives.

GRESB

2. Acquisition of DBJ Green Building Certification
The DBJ Green Building Certification is a certification system created by the Development Bank of Japan (DBJ) to support real estate properties with environmental and social awareness. The certification system evaluates convenience, comfort, disaster/crime prevention, energy-saving, involvement with communities, etc. in addition to environmental performance, and evaluation results are expressed in five-level ratings (5 stars ★★★★★ to 1 star ★).

DBJ Green Building Certification

Acquisition status of DBJ Green Building Certification

All Properties Certified Properties Certified Rate
Number of Properties

(※1)

265 43 16.2%
Total Floor Area(㎡)

(※2)

2,125,550.49 1,138,279.45 53.6%
(note1) Acquisition status as of Apr. 2, 2018.
(note2) Calculated based on properties in the fund excluding land.
(note3) Calculated based on the floor area multiplied by the fund share of the property or on the floor area of exclusively owned space.

The following properties among properties owned by the Investment Corporation received the certification.

Please click here for details of DBJ Green Building.

3. Acquisition of BELS Certification
Nomura Real Estate Master Fund, Inc. (NMF) is promoting the acquisition of BELS(Building-Housing Energy-efficiency Labeling System) Certification.

Acquisition status of BELS Certification

All Properties Certified Properties Certified Rate
Number of Properties

(※1)

265 19 7.2%
Total Floor Area(㎡)

(※2)

2,125,550.49 419,436.03 19.7%
(note1) Acquisition status as of Apr. 2, 2018.
(note2) Calculated based on properties in the fund excluding land.
(note3) Calculated based on the floor area multiplied by the fund share of the property or on the floor area of exclusively owned space.

The following properties among properties owned by the Investment Corporation received the certification.

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