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Sustainability Finance

Overview of the Sustainability Framework

Use of Proceeds from Sustainability Finance

The net proceeds from sustainability finance will be used for the acquisition of assets in the Eligible Green Projects as provided for in Eligible Sustainability Projects below, refinancing of loans required for the acquisition of assets in the Eligible Sustainability Projects, and for the redemption of the investment corporation bonds that have already been issued (including sustainability bonds/green bonds) for the acquisition of assets in the Eligible Sustainability Projects.

Eligible Sustainability Projects

Eligible Sustainability Projects are assets or projects that satisfy either of the Eligible Green Project Criteria and the Eligible Social Project Criteria shown below.

■Eligible Green Project Criteria
Green buildings
New, existing or renovated buildings that have obtained at least one of the following certifications;

i) DBJ Green Building Certification (Japan): five, four or three stars
ii) CASBEE (Japan): S, A or B+
iii) BELS (Japan): five, four, or three
iv) LEED (U.S.): Platinum, Gold or Silver


Contribution to the sustainable growth of local communities
New, existing, or refurbished buildings that contribute to either of items a through d shown below:

a. Safety of local residents in times of disaster
b. Development of the local living environment
c. Revitalization of the local community
d. Provision of parenting support

Management of Proceeds

The upper limit of green finance (limit of the "Debts of Eligible Sustainability Projects") shall be the amount calculated by multiplying the total acquisition cost of the Eligible Sustainability Projects by the ratio of actual interest-bearing debt to total assets as of the end of the latest fiscal period that can be calculated on the payment date or loan date of each investment corporation bond, or as of the end of every February.

グリーンバランスシート
Eligible Sustainability Projects that also fall under the definition of Eligible Green Projects under GLP J-REIT’s Green Finance Framework are included both in the total value of Eligible Sustainability Projects and in that of Eligible Green Projects. Any amount of funding provided for those projects in the form of sustainability finance or green finance is included both in the outstanding balance of sustainability finance and in that of green finance. The amount included in the total value and the outstanding balance overlaps between the two forms of finance.

Sustinability Bond Issuance

GLP J-REIT 15th Unsecured Bonds (Special pari passu conditions among specified investment corporation bonds) (Sustinability Bonds)

Total issue amount 5,000 million yen
Issuance date September 25, 2020
Redemption date September 25, 2030
Interest rate 0.510%
Others Unsecured, not guaranteed

Reporting

GLP J-REIT will continue to disclose the following indicators as of the end of every February so long as it has a sustainability bond finance balance.

■ Total amount of allocated proceeds/ Amount of proceeds not yet allocated

GLP J-REIT 15th Unsecured Bonds (Sustinability Bonds)

Total amount of allocated proceeds 4,967 million yen
Amount of proceeds not yet allocated 0 yen

■ Level of each environmental certification obtained

■ Reporting on Social Benefits

(1) Output indicators

Number of properties
that are Eligible Green Projects
12

(2) Outcome indicators

Emergency shelter
for people affected by disaster
13 properties 8,557 people
Standby station for Disaster Relief Teams and Emergency Fire Response Teams in the event of a disaster 13 properties
Backup power supply (72 hours) 8 properties
Stockpile volume of fuel (72 hours) 8 properties
Groundwater facility (※) GLP AtsugiⅡ
GLP SojaⅠ
Some properties have groundwater facilities available for use during a water outage.

(3) Impact

Harmonious relationship with the local community by contributing to the safety and security of the community

■ Properties availing such a facility for use as an emergency shelter for local residents in the event of a disaster

Evaluation by an External Organization

With regard to the eligibility of the sustainability finance framework, GLP J-REIT has obtained the evaluation of “SU 1 (F)", the highest JCR Green Bond Evaluation from Japan Credit Rating Agency, Ltd. (JCR), which is a green bond evaluation organization.

GLP J-REIT 15th Unsecured Bonds (Sustinabilty Bonds)

Sustainability finance framework

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