ESGMateriality
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NPR’s Materiality
Material Topics
In 2026, NPR, Prologis REIT Management K.K. (PLDRM) and Prologis Japan identified six material sustainability topics.
Materiality Assessment
In 2026, NPR, PLDRM and Prologis Japan assessed the materiality of sustainability issues from a double materiality perspective, considering both the impacts of business activities on the environment and society (impact materiality) and the risks and opportunities arising from environmental and social changes that could affect business and financial performance (financial materiality), and identified material sustainability topics through the following process.
- Step 1
Identification -
- Review ESG assessments reflecting investor interests, including standards and guidelines such as SASB and SSBJ, as well as reports and frameworks issued by specialist organizations, NGOs and NPOs, sustainability-related media coverage, regulatory trends and policies.
- Compile an initial list of 22 issues based on this review.
- Step 2
Assessment -
- Identify the environmental and social impacts associated with each issue, as well as the related risks and opportunities for NPR and Prologis Japan.
- Conduct surveys and interviews with key external stakeholders, including investors, and with employees of PLDRM and Prologis Japan, as well as assessments based on past stakeholder engagement.
- Assess each issue along two dimensions: its importance to stakeholders and its importance to NPR and Prologis Japan, and develop a materiality map.
- Step 3
Identification and Approval of Material Topics -
- Discuss the proposed material topics at the Sustainability Committee, which comprises employees of PLDRM and Prologis Japan, confirm their appropriateness as key issues, and identify the six material topics following deliberation by PLDRM’s ESG Committee.
- For KPIs linked to material topics relating to NPR’s portfolio properties, obtain approval following deliberation by the Investment Committee and NPR’s Board.
Materiality Targets and KPIs
We set targets and KPIs for each material topic and monitor progress and performance.
| Material Topics | KPI | Target | Progress |
|---|---|---|---|
| Sustainable Energy and the Environment | GHG Emissions | ▼52% by 2030 (vs 2023) ▼90% or more (Net Zero) by 2040 (vs 2023) |
NPR’s GHG emissions Scope 1 & 2 6,853 tCO2e Scope 3 (Category 13) 61,069 tCO2e (2025) |
| LED Lighting Installation Floor area basis ratio of the NPR’s portfolio (%) |
100% by 2030 (excluding refrigerated areas) | 94% (As of December 31, 2025) |
|
| Solar Power Installation Total capacity across the NPR’s portfolio (MW) |
75 MW by 2030 | 67.6 MW (As of December 31, 2025) |
|
| Responsible Development and Operations | Ratio of eligible green projects (%) | Maintain 95% or more (acquisition price basis) | 98.4% (As of December 31, 2025) |
| Human Capital for Sustainable Growth | Percentage of women in management position / Percentage of women candidates for management position (%) | 20% by 2027 at Prologis Japan / 30% by 2027 at Prologis Japan | 18.7% / 28% (As of December 31, 2025) |
| Difference in average employment years between men and women (years) | Eliminate any difference by 2027 at Prologis Japan | 0.6 year difference (As of December 31, 2025) |
|
| Employee Turnover Rate | In development | - | |
| Training Participation Rate / Learning Hours | In development | - | |
| Paternity Leave Uptake Rate | In development | - | |
| Stakeholder Engagement | Floor area basis green lease contracts ratio of the NPR’s portfolio (%) | 90% by 2030 | 71.8% (As of December 31, 2025) |
| Volunteer Hours spent by the employees of PLDRM and Prologis Japan | 10,000 cumulative employee hours in Japan from 2026 to 2030 | 1,297 hours (2025) | |
| Disaster Preparedness Agreements | - | - | |
| Corporate Resilience | Percentage of non-interested board members at NPR (%) | Maintain 75% or more | 75% |
| NPR’s board members’ average attendance rate by year (%) | 90% or more | 100% (2025) | |
| Risk monitoring conducted by PLDRM (times) | 4 times per year | 4 times (2025) | |
| Ethics Training Completion Rate (%) | 100% completion at PLDRM | 100% (2025) | |
| Innovation for the Future | Generative AI Adoption Rate | In development | - |
| Number of New Initiatives and Business Projects | In development | - |