Sustainability MarketDynamics
Japan: SustainabilityMarketDynamics
Keytrends
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CASBEE-REcertificationrapidlyexpanding inmulti-familysector
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Japaneseversion only
Specialfeatures:
Renewableenergycertificatesand
carbon
In2Q25,seventeen projectsacquiredLEED certification,bringingthetotalnumberofLEEDcertifiedprojectssince2009to332,up5.4%q-o-q. WhilethetotalnumberofCASBEE-BD-certified projectsdecreased by0.4%q-o-q,CASBEE-REcertifiedprojectsincreased by7.9%,drivenby rapidgrowthinthemulti-familysector. KeyMetrics
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Wellness
certificationshowsslowdown
OnlyoneprojectacquiredWELLcertificationin 2Q25,bringingthetotalnumberofWELL-certified projectsto61,amodest1.7%increase q-o-q. Fitwel-certifiedprojectsremainedatfivewithno newacquisitionsforthefifthconsecutivequarter. ThetotalnumberofCASBEE-WO-certifiedprojects increased by2.9%q-o-q,showingaslightrecovery ingrowthrate.
credits
Undertheglobaltargetoftriplingrenewable energygenerationcapacityanddoublingenergy efficiency improvementratesby2030,regulations onrenewableenergycertificatesandcarbon creditsarebecomingincreasinglystringentboth domesticallyandinternationally.Indecarbonizing realestate,companiesshouldnotrelyexcessively oncertificatesandcredits,butratherprioritize implementingsteadyenergyconservation measurestoachievemoresubstantialgreenhouse gasemissionreductions.
Green-certified projects(average q-o-q)
Wellness-certified projects(averageq-o-q)
Note:LEED,WELLandFitwelrefertoallratings.CASBEE-BD, CASBEE-REand CASBEE-WOrefertoB+andabove.
Source:JLL,USGBC,IWBI,Fitwel IBECs
CASBEE-REexpandsrapidlyinmultifamilysector Japan: SustainabilityMarketDynamics
• Seventeen projects acquiredLEEDcertification in 2Q25,including onePlatinum-awarded project (LEEDv4ID+C:Retail).Thetotalnumberofcertified projects since2009hasreached332,anincreaseof 5.4%q-o-q.
• Twenty-six projects acquiredCASBEE-BD certification in2Q25,withacquisitionnumbers decreasing bothq-o-q andy-o-y. Thetotalnumber ofCASBEE-BD-certified projectsfellby0.4%q-o-q to 524.
• CASBEE-REcertification wasacquiredby193 projects in2Q25,withthemajorityinthemulti-family sector, whichisexperiencing rapidgrowth. While quarterlyacquisitionnumber decreased q-o-q, but increased y-o-y. ThetotalnumberofCASBEE-REcertified projects reached 2,568,a7.9%increaseq-oq.
Historicalvalidgreencertificationbycertifiedyear
Source:JLL,USGBC,IBECs Note CASBEE-BD(CASBEEforBuildings) andCASBEE-RE(CASBEEforRealEstate)refertoB+orhigher
Wellnesscertificationgrowthis slowing
• Oneproject acquired WELLcertification in2Q25, withacquisitionnumberdecreasing bothq-o-q and y-o-y. NoPlatinum-awarded projects wererecorded thisquarter.ThetotalnumberofWELL-certified projects hasreached 61,reflecting a1.7%increaseqo-q.
• Noprojects acquired Fitwelcertificationin2Q25, leavingthetotalnumber ofFitwel-certified projects unchanged atfive.
• Ten projects acquired CASBEE-WOcertification in 2Q25,including onerecertification following expiration. Quarterlyacquisitionnumberremained flatq-o-q butdecreased y-o-y. Thetotalnumberof CASBEE-WO-certified projects roseto179,up2.9%qo-q, indicating aslightrecovery ingrowth. Japan: SustainabilityMarketDynamics
Historicalvalidwellnesscertificationbycertifiedyear
Source:JLL,IWBI,Fitwel,IBECs
Japan: SustainabilityMarketDynamics
Green-certifiedofficebuildingshare increasesslightlyinTokyo
• InTokyo, CASBEE-REacquisitionprogresshaslifted theshareofgreen-certified largeofficebuildingsto 68%in2Q25,up2ptsq-o-q. Theshareofwellnesscertified largeofficebuildingsremained unchanged at6%withnonewcertificationsthisquarter.
• InOsaka,despite thecompletion ofone building withDBJ-GBcertification, theshareofgreencertified largeofficebuildingsin2Q25remained at 45%.Theshareofwellness-certified largeoffice buildingsdecreased by1ptq-o-q to9%asone building'sCASBEE-WOcertification expired.
• InFukuoka,twobuildingscompleted withoutgreen buildingcertification, reducing theshareofgreencertified largeofficebuildingsby1ptto29%in2Q25. Theshareofwellness-certified largeofficebuildings remained unchanged at9%withno new certificationsthisquarter.
Shareofgreen-certifiedlarge-scaleofficebuildings
Source:JLL,USGBC,IWBI,Fitwel,IBECs,DBJ
Note1:LargeofficebuildingsrefertoleasableofficebuildingslocatedintheCBDsofTokyo,OsakaandFukuoka,completedinorafter1990,withatotalfloorareaof30,000sqmormoreinTokyo,or15,000sqmormoreinOsakaandFukuoka
Note2:Propertiesthathavereceivedmultiplecertificationsarecountedunderthehighest-levelcertificationsystem
Note3:ForLEED,thenumberdoesnotincludeND,whichcoversthedevelopmentofmultiplebuildingsononesite,orID+C,whichcoverssomeofthetenantspaceinabuilding.
Note4:ForCASBEE,thenumberincludesonlyprojectswitharankofB+orhigher
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