Metrics and Targets
Hulic identifies materiality and the Sustainability Committee sets key performance indicators (KPIs) for each materiality and evaluates progress by reviewing results.
Climate change KPIs, results and progress assessments are as follows.
|KPIs||Specific Targets||Coverage||2020||Assessment||Major related SDGs|
|CO2 emission*1 reduction target||Reduce CO2 emissions (The base year: 2013)
40% by 2025
45％ by 2030
100% by 2050
|156 major properties*2||27% reduction||〇|
|RE100 achievement rate*3||4% in 2021
30% in 2022
35% in 2023
70% in 2024
100% in 2025
|Electricity used in Hulic Group business activities||0.5%||〇|
|Number of times the Sustainability Committee engaged in climate change monitoring||One or more times annually||Hulic Co., Ltd.||1 time||◎|
|Number of Environmental Advisory Council held||One or more times annually||Hulic Co., Ltd.||1 time||◎|
The following are managed as other related indicators.
|Related Indicators||Related KPI||Specific Numerical Values and Targets|
|Annual generation of renewable energy||RE100 achievement rate*3||Approximately 60 GWh (annually)|
|Amount of investment in renewable energy generation facilities||CO2 emission*1 reduction target||Approximately JPY 60 billion (cumulative amount by 2030)|
- We are revising our related KPIs as we have brought forward the target years of net zero CO2 emissions and RE100, respectively from our initial plans.
- 1. The reduction rate is calculated by comparing CO2 emissions intensity in 2013 as the base year.
- 2. The boundary of properties is the buildings in which the Company's share of the total floor area is 50% or more (excluding residential use and real estate for sale). This includes properties for which we do not have energy management rights. Energy consumption included are electricity, city gas, heat, and regularly used A fuel, kerosene and LPG. We have aggregated equivalent of the Company’s share of the total floor area for the shared ownership properties. CO2 emission intensity is calculated by using the aggregated floor area of the properties in the boundary as the denominator.
- 3. Targets are set according to the amount of power generated by Company-owned non-FIT solar photovoltaic equipment during the target year divided by the total amount of electricity used at the Hulic head office building and on the floors occupied by Group companies in one year (an estimate of final target year).
In accordance with Hulic’s long-term vision for the environment, we established medium- to long-term targets for climate change to reduce CO2 emissions from all Company-owned lease properties*1 to net zero by 2030. Hulic believes that it is important to take actions to combat climate change by reducing CO2 emissions in Scope 1 and 2 as well as throughout the value chain.
In addition to utilizing environmentally friendly technologies in our properties and reducing energy consumption by promoting energy conservation, we will invest a total of approximately JPY 60 billion in developing photovoltaic power generation that does not use the FIT system*2, and small hydroelectric plants. Hulic entered the photovoltaic business using the FIT system in 2012, and in 2020, we started developing photovoltaic equipment that does not use the FIT system (non-FIT), as well as developing small hydroelectric plants. Electricity derived from non-FIT renewable energy generated by Hulic-owned power sources will be supplied to our properties by Hulic Property Solutions, a Group company retail electricity supplier (Power Producer and Supplier, “PPS”). We plan to only use renewable energy sourced electricity generated by Hulic-owned power sources to supply approximately 310 GWh (an estimate in 2030) of all electricity used annually by our properties. When this target is achieved, electricity-derived CO2 emissions will become net zero for tenants in our properties.
We recognize, that going forward, the growing importance of taking actions against climate change through CO2 emission reductions across the entire value chain, along with the reduction of electricity-derived CO2 emissions from our Group through the achievement of RE100.
- *1:Excludes single-tenant lease properties, residential properties and unmanaged shared properties for which we do not manage energy, and real estate for sale.
- *2:A feed-in tariff (FIT) system for electricity that requires utility companies to purchase electricity generated using renewable sources for a certain period of time at a price specified by the national government.
FIT electricity is not considered renewable energy as a portion of the cost of the electricity purchased by a utility company is added to the consumer’s bill so the tax payer must bear some of the costs. Therefore, achieving the 100% goal with FIT electricity is not considered RE100 by definition.
RE100 stands for “Renewable Electricity 100%,” a global initiative aimed at using only renewable energy as the source of electricity used in business activities.
Hulic joined RE100 in 2019, and in 2020, started to develop photovoltaic equipment that does not use the FIT system (non-FIT). Electricity derived from non-FIT renewable energy generated by Hulic-owned power sources will be supplied by Group company retail electricity supplier (PPS), Hulic Property Solutions, to buildings occupied by Group companies. We plan to provide all of the approximately 60 GWh of electricity used annually by Group companies from Hulic-owned renewable energy sources by 2024, and in order to achieve that goal we set progress target for each fiscal year as a milestone. When RE100 is achieved in 2024, Hulic Group’s electricity-derived CO2 emissions will become net zero.
Number of times the Sustainability Committee engaged in climate change monitoring and number of Environmental Advisory Council held
We have set the above as KPIs with the aim of confirming the operational status of corporate governance related to climate change.
|Organization||Confirmation of operational status|
|Environmental Advisory Council||
Total energy consumption and CO2 emissions were as follows.
Please visit the Hulic website for details regarding the calculation criteria for Scope 1 and 2 emissions as well as Scope 3 emissions throughout the entire value chain.
(the base year)
|Total energy consumption (GJ)||1,168,688||1,339,691||1,587,269||2,191,667||2,489,021||2,140,340|
|Scope 1 (total)||25,202||47,951||51,942||68,627||91,505||85,395|
|Scope 2 (total)||1,143,486||1,291,740||1,535,327||2,123,040||2,397,517||2,054,946|
|Total energy consumption intensity (GJ/㎡)||1.7||1.4||1.5||1.7||1.6||1.6|
|CO2 emissions (t-CO2)||66,552||68,926||80,028||103,338||110,163||95,477|
|Scope 1 (total)||1,266||2,154||2,332||3,196||4,532||4,593|
|Scope 2 (total)||65,287||66,772||77,697||100,142||105,631||90,883|
|CO2 emissions intensity (kg-CO2/㎡)||96.8||73.8||78.0||79.7||72.1||70.6|
|Total floor area (㎡)||687,756||934,243||1,025,891||1,295,832||1,528,972||1,351,869|
|Number of properties that are in the boundary||115||129||149||161||164||156|
|Energy consumption included||
Other Related Indicator
|Related Indicator||Related KPI||Result (kWh)|
|Annual generation of renewable energy||RE100 achievement rate||283,759|
- Total energy consumption, CO2 emissions (total of Scope 1 and Scope 2) and CO2 emissions intensity (kg-CO2/㎡) in 2020, which are marked with , have been assured by an independent third-party assurance provider.
We do not track greenhouse gas emissions other than CO2 because they are considered to be extremely limited due to the nature of our business.
For gases other than CO2, within the emission levels (CH4, N2O, HFC/PFC, SF6) stipulated in the GHG Emissions Accounting, Reporting, and Disclosure System (Act on Promotion of Global Warming Countermeasures), Hulic manages the amount of permissible leaks as an administrator based on the Act on Rational Use and Proper Management of Fluorocarbons. Note that we do not report or disclose this data as the amount of leaks is below the reporting standards.
- Our Approach to Sustainability
- Environmental Initiatives
- Basic Policy for Environment
- Initiatives for Climate Change
- Building a Recycling-oriented Society
- Initiatives for Biodiversity
- Information Disclosure based on TCFD Recommendations
- Social Initiatives
- Initiatives for Customers
- Collaboration with Business Partners
- Initiatives for Employees
- Initiatives for Local Communities
- Corporate Governance
- Corporate Governance
- External Directors and External Auditors
- Auditing Mechanism
- Internal Control System
- Risk Management
- Initiatives for Shareholders and Investors
- External Evaluation
- Index by Topic / Index by GRI Standards
- Sustainability Book /
- Survey for our Sustainability Website