Based on the Sustainability Policy, NUD and its asset management company NTT Urban Development Asset Management Corporation recognize the importance of ESG considerations, have identified materiality (key issues) and strive to address these issues with the aim of supporting the realization of a sustainable society as a corporate responsibility.
In addition to disclosing our progress toward various policies and targets, we aim to balance contributing to the Sustainable Development Goals (SDGs) through promotion of the medium- to long-term growth of NUD by addressing materiality.
We regularly review the identified materiality issues (once a year) and consider revising them as needed.


Materiality Relationship with SDGs
Adaption to Climate Change
Policies and Objectives Management and reduction of energy consumption and greenhouse gas (CO₂) emissions
  • Aiming for net zero greenhouse gas (CO₂) emissions by FY2050
  • Aiming for reduction of greenhouse gas (CO₂) emissions (intensity) by 42% (vs. FY2020) by FY2030
KPI Portfolio’s energy consumption per floor space and greenhouse gas (CO₂) emissions (intensity)
Reported Location “Environmental Initiatives”
Conservation of Water Resources
Policies and Objectives Management, reduction, and reuse of water consumption
  • Reduction of intensity in the portfolio to below the previous year’s level each year
KPI Portfolio’s water consumption per floor space (intensity)
Reported Location “Environmental Initiatives”
Promotion of Resource-Saving and Recycling
Policies and Objectives Management, reduction and reuse of waste
KPI Percentage of waste recycled in the portfolio
Promotion of Green Portfolio
Policies and Objectives Increase in the number of properties with environmental certifications
  • Increase in the number of properties in the entire portfolio that acquire environmental certifications each year over the previous year (excluding properties transferred)
  • Maintaining and improvement of GRESB Real Estate Assessment
KPI Number of properties in the portfolio with environmental certifications
GRESB Real Estate Assessment
Reported Location “Acquisition of External Assessments / Certifications”
Tenant Engagement
Policies and Objectives Promotion of energy conservation in collaboration with tenants
(including distribution of tenant renovation guide)
Reported Location “Environmental Initiatives”
Tenant Engagement
Policies and Objectives Improvement of tenants’ health, safety, and comfort
KPI Feedback of results on operational policies through tenant satisfaction surveys
Reported Location “Social Initiatives”
Employee Engagement (Asset Management Company)
Policies and Objectives Development of an employee-friendly work environment that takes into consideration respect for human rights, health, safety, and comfort
Promotion of human resource development by offering qualification incentive programs
Promotion of diversity
  • As the NTT Group, aiming to achieve a percentage of women in management of 15% or more by FY2025
KPI Feedback of results on management policy through employee satisfaction surveys and stress checks
Number of persons who have acquired major professional qualifications
Percentage of female managers /Percentage of female employees /Percentage of employees aged 60 and older
Reported Location “Social Initiatives”
Rigorous Compliance
Policies and Objectives Efforts to ensure compliance with laws and regulations and prevent misconduct based on strengthened compliance system
(including promotion of appropriate transactions with interested parties)
KPI Number of compliance training sessions/year
Reported Location “Social Initiatives”
Enhanced Management of Operational Risks
Policies and Objectives Protection of personal, business, and other information through enhanced cybersecurity
KPI Number of safety drills/year
Stakeholder Engagement
Policies and Objectives Promotion of accurate and prompt information disclosure and dialogue that respects the rights of stakeholders
  • Maintaining and improvement of the level of GRESB Public Disclosure rating
KPI GRESB Public Disclosure
Reported Location “Acquisition of External Assessments / Certifications”

Process of Identifying Materiality

Identifying Sustainability-Related Issues

Identifying various issues that are highly relevant to NUD by referring to the SDGs targets, GRESB assessment criteria, TCFD policies, issues recognized in the REIT sector, etc.


Identifying materiality by prioritizing the identified issues and establishing KPIs with the aim of resolving them, after accounting for the characteristics of NUD’s assets and alignment with its management policies based on discussion and exchange of opinions between various department managers in charge and the members representing NUD on the “Meeting of Staff in Charge of Sustainability Promotion,” which consists of ESG officers from various departments of the Asset Management Company

NUD’s Materiality Matrix

Discussion and Definition by Sustainability Promotion Committee

Following discussion of the materiality identification details by the “Sustainability Promotion Committee,” whose members include the President & CEO (Chief Sustainability Officer), other full-time directors, and the Compliance Officer, etc., materiality is defined through approval by the final decision-making authority

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