Green Bond Fact Sheet

This fact sheet details a JPY 3 billion green bond issued by the Nomura Real Estate Master Fund on September 20, 2019, to finance or refinance the acquisition of certified green buildings in Japan.

• The Nomura Real Estate Master Fund issued a senior unsecured green bond on September 20, 2019, with a total amount of JPY 3 billion (approximately USD 28 million) and a maturity date of September 20, 2029.
• Proceeds from the bond are designated for the financing or refinancing of green buildings. To be eligible, assets must have or be expected to achieve specific certifications: 3 stars or more of DBJ Green Building Certification, B+ Rank or higher of CASBEE Real Estate, or 3 stars or more of BELS Certification.
• The issuer, a Japanese REIT backed by the Nomura Real Estate Group and listed on the Tokyo Stock Exchange since October 2015, manages a portfolio of 289 properties valued at over JPY 1 trillion (USD 9 billion) based on acquisition prices.
• The bond received a Green Bond Rating of 'Green 1(F)' from JCR. The Climate Bonds Initiative notes that while the eligibility criteria are strong, issuers are encouraged to pursue more ambitious energy performance and certification levels due to the sector's high carbon footprint.
• The Japanese green bond market showed strong growth in 2019, reaching a record with 35 bonds issued by the time of the report, compared to 31 in 2018. J-REITs have been notably active issuers in the six months preceding the report.

APA

Climate Bonds Initiative (2019). Green Bond Fact Sheet. https://www.climatebonds.net/files/drupal-files/files/2019-09%20JP%20Nomura%20Real%20Estate%20Master%20Fund.pdf

Chicago

Climate Bonds Initiative. Green Bond Fact Sheet. 2019. https://www.climatebonds.net/files/drupal-files/files/2019-09%20JP%20Nomura%20Real%20Estate%20Master%20Fund.pdf.

Wikipedia

{{cite report |author=Climate Bonds Initiative |title=Green Bond Fact Sheet |date=19 September 2019 |url=https://www.climatebonds.net/files/drupal-files/files/2019-09%20JP%20Nomura%20Real%20Estate%20Master%20Fund.pdf |access-date=17 August 2026 |via=Climate Insights Directory}}

BibTeX

@techreport{climatebondsinitiative2019green, author = {{Climate Bonds Initiative}}, title = {{Green Bond Fact Sheet}}, institution = {Climate Bonds Initiative}, year = {2019}, month = sep, url = {https://www.climatebonds.net/files/drupal-files/files/2019-09%20JP%20Nomura%20Real%20Estate%20Master%20Fund.pdf}, urldate = {2026-08-17}, note = {Indexed by Climate Insights Directory} }