#Japan #Renewable Energy #Tokyo #climate action #Sapporo Real Estate

Introduction

In a significant achievement for sustainability, Sapporo Real Estate Development Co., headquartered in Shibuya, Tokyo, has been jointly awarded the 2023 Climate Change Action Award by the Minister of the Environment. This accolade recognizes the company's pioneering efforts in promoting renewable energy through a collaborative virtual Power Purchase Agreement (PPA) framework. Partners in this initiative include Ricoh Leasing Co., Digital Grid Corp., and EneA Renewable Energy Management Co.

About the Award

The Climate Change Action Award is rooted in the Paris Agreement’s commitment to achieve net-zero greenhouse gas emissions by 2050. The award is designed to commend significant contributions made by individuals or organizations towards climate change mitigation and adaptation. It aims to widen the spectrum of action by sharing and promoting exemplary initiatives across various sectors and communities.

The Virtual PPA Initiative

Sapporo Real Estate's recognition stems from its adoption of a virtual PPA, which enables the company to capitalize on renewable energy generation without being tied to specific locations for production facilities. The firm will procure the environmental value from the Fukuoka Kyuyama Solar Power Plant, managed by Ricoh Leasing, which has a capacity of 2,804 kW (DC), starting from July 2025 for a span of 20 years. This procurement mechanism allows for enhanced flexibility and promotes broader engagement with renewable energy sources.

Commitment to Sustainability

Sapporo Real Estate Development has established a roadmap aimed at transitioning to a decarbonized future. As part of these initiatives, since April 2023, the company has implemented measures to ensure that all electricity sourced across its properties is derived from non-fossil fuel sources. This transition allows the company to achieve 100% renewable energy utilization, including power consumed by tenants. Furthermore, the company is focusing on self-generation of energy with plans to achieve 100% self-generated power for its operations by 2040, leveraging physical and virtual PPA structures.

Collaborating for a Better Future

The collaborative approach adopted by Sapporo Real Estate and its partners demonstrates a commitment to harnessing renewable energy capabilities that can contribute meaningfully to Japan's decarbonization goals. By engaging in this innovative energy procurement model, they are setting an example for the industry and showcasing the potential for large-scale adoption of sustainable practices.

Conclusion

The 2023 Climate Change Action Award serves not only as a recognition of Sapporo Real Estate Development’s innovative strategies and partnerships but also highlights the essential role that organizations play in achieving climate goals. As businesses and communities unite to tackle climate change, initiatives like the virtual PPA illuminate the pathway towards a sustainable and resilient future for all.