GRESB Real Estate Assessment 2025
In the GRESB Real Estate Assessment, a benchmark that evaluates environmental, social, and governance (ESG) initiatives in the real estate sector, Heiwa Real Estate received a 4-star rating for the fourth consecutive year in the Standing Investments Benchmark (related to currently operating properties).
Also, for the fifth consecutive year, Heiwa Real Estate received a Green Star designation, which is awarded to companies that have scored highly in both the Management component (evaluate policies and organizational structures for ESG promotion) and Performance component (assesses environmental performance at owned properties and initiatives with tenants).
GRESB is both the name of an annual benchmark assessment that measures ESG performance of property companies and funds, and the organization that operates this assessment. GRESB was established in 2009 by a group of large pension funds in Europe that initiated Principles for Responsible Investment (PRI). GRESB currently has 150 investor members, which use its data when selecting companies to invest in and when holding dialogues with invested companies. Many of these members, including Japan’s Government Pension Investment Fund (GPIF), make use of GRESB assessment results. In 2025, 2,382 property companies and funds from around the world participated in the GRESB Real Estate Assessment.
CDP
Heiwa Real Estate was selected for the “A List,” the highest rating in the Climate Change Program, by the Carbon Disclosure Project (CDP), an international nonprofit organization that focuses on environmental information disclosure, for the second consecutive year.
CDP is a non-profit organization that supports institutional investors and major purchasers around the world that are highly concerned about the environment, calling on corporations and governments to promote initiatives and disclose information on climate change, water resource protection, forest conservation and other environmental issues. In 2025, more than 22,100 organizations disclosed environmental information through CDP’s questionnaire.
FTSE Blossom Japan Index
Heiwa Real Estate has been selected as a constituent for the FTSE Blossom Japan Index. Created by global index provider FTSE Russell, this index measures the performance of Japanese corporations demonstrating excellence in ESG practices. Designed to be industry-neutral, the index is used as an important investment decision criterion by investors around the world focused on corporate ESG initiatives.
FTSE Blossom Japan Sector Relative Index
Heiwa Real Estate has been selected as a constituent for the FTSE Blossom Japan Sector Relative Index. As with the FTSE Blossom Japan Index, this index is designed to be sector-neutral, reflecting the performance of Japanese companies with excellent ESG responses. To promote the transition to a low-carbon economy, only companies with particularly high greenhouse gas emissions evaluated for improvement efforts by the TPI Management Quality Score* are included in the index.
*Assesses the quality of corporate management of greenhouse gas emissions, as well as risks and opportunities associated with the transition to a low-carbon society.
MSCI Japan Empowering Women Index (WIN)
Heiwa Real Estate has been selected as a constituent for the MSCI Japan Empowering Women Index (WIN). This stock price index, created by MSCI, a leading U.S. financial services company, is based on data related to the employment and promotion of women in corporations and gender diversity information disclosure.
S&P/JPX Carbon Efficient Index
The Company has been selected as a constituent stock of the S&P/JPX Carbon Efficient Index. The S&P/JPX Carbon Efficient Index is designed to measure the performance of companies in the Tokyo Stock Price Index (TOPIX; as the “underlying index”), weighting companies with focus on their level of carbon efficiency (carbon emissions per sales) and disclosure status of environmental information.
Morningstar Japan ex-REIT Gender Diversity Tilt Index
Heiwa Real Estate has been selected for inclusion in the Morningstar Japan ex-REIT Gender Diversity Tilt Index. This index focuses on companies that have established gender diversity policies that permeate their corporate culture, as well as companies that are committed to equal opportunities for employees regardless of gender.
ESG Finance Awards Japan
Heiwa Real Estate was selected for inclusion in the Environmentally Sustainable Enterprise Category at the 4th ESG Finance Awards Japan, organized by the Ministry of the Environment. The ESG Finance Awards Japan are designed to further promote and expand ESG finance by recognizing institutional investors, financial institutions, brokerages, companies, and other organizations that have proactively engaged in ESG finance or environmental and social projects and have made an impact, aimed at sharing these pioneering efforts with wider society.
The Environmentally Sustainable Enterprise category was established to provide investors and corporations with concrete examples of enterprises incorporating significant environmental opportunities and risks into their management strategies to enhance corporate value, leading to both positive effects on the environment and enhancement of corporate value. Companies, including Heiwa Real Estate, that meet certain standards are selected as Environmentally Sustainable Enterprises.
