Green Bond Fact Sheet

This Green Bond Fact Sheet describes a JPY 5.5 billion senior unsecured green bond issued by Invesco Office J-REIT on December 13, 2018, with a five-year tenor maturing on December 13, 2023.

• Invesco Office J-REIT issued a senior unsecured green bond totaling JPY 5.5 billion (USD 48 million) on December 13, 2018, with a maturity date of December 13, 2023.
• The proceeds from the bond are designated for 'Buildings', specifically 'Certified Buildings' and 'Energy performance'. According to the first allocation report, the funds will be fully used by December 28, 2018, to refinance a loan for the acquisition of Ebisu Prime Square, a property that achieved a 3 star DBJ Green Building Certification and a 15% reduction in CO2 emissions in the previous fiscal year.
• Future eligible projects must satisfy at least one of three criteria: obtaining a DBJ Green Building Certification Program or CASBEE certification of B+ or higher; achieving a higher CO2 reduction rate than the government's most recent fiscal year standard; or, for refurbishments, achieving a 10% reduction in energy consumption, CO2 emissions, or water consumption, or improving green building certification by more than one level.
• The Climate Bonds Initiative (CBI) notes that while the issuance of an allocation report at the time of issuance improves transparency, the general eligibility requirements are not very stringent. Specifically, CBI suggests that property refurbishments should target a minimum of 20% energy efficiency improvements and that issuers should aim for top-level rankings in green building certifications.
• The issuer, Invesco Office J-REIT, was established on February 27, 2014, and listed on the Tokyo Stock Exchange on June 5, 2014. It focuses on owning large-scale office buildings in major metropolitan areas of Japan.

APA

Climate Bonds Initiative (2018). Green Bond Fact Sheet. https://www.climatebonds.net/files/drupal-files/files/2018-12%20JP%20Invesco%20Office%20J-REIT.pdf

Chicago

Climate Bonds Initiative. Green Bond Fact Sheet. 2018. https://www.climatebonds.net/files/drupal-files/files/2018-12%20JP%20Invesco%20Office%20J-REIT.pdf.

Wikipedia

{{cite report |author=Climate Bonds Initiative |title=Green Bond Fact Sheet |date=14 December 2018 |url=https://www.climatebonds.net/files/drupal-files/files/2018-12%20JP%20Invesco%20Office%20J-REIT.pdf |access-date=17 August 2026 |via=Climate Insights Directory}}

BibTeX

@techreport{climatebondsinitiative2018green, author = {{Climate Bonds Initiative}}, title = {{Green Bond Fact Sheet}}, institution = {Climate Bonds Initiative}, year = {2018}, month = dec, url = {https://www.climatebonds.net/files/drupal-files/files/2018-12%20JP%20Invesco%20Office%20J-REIT.pdf}, urldate = {2026-08-17}, note = {Indexed by Climate Insights Directory} }