Invesco Office J-REIT, Inc - Sustainability Report 2019
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Invesco Office J-REIT, Inc.
Sustainability Report
2019
As an investment corporation under the Act on Investment Trusts and
Investment Corporations of Japan is only allowed for external management,
Invesco Global Real Estate Asia Pacific, Inc., part of Invesco Real Estate (Invesco
Group), is entrusted by Invesco Office J-REIT with the authority related to
investment and management operations.
1 Invesco Office J-REIT, Inc. 2019 Sustainability Report
Contents
Stakeholder Engagement 25
A Message from Our Executive Director 3
Investors 26
2019 IOJ ESG Highlights 4
Suppliers 26
Company Overview 5
Tenants & Customers 26
IGRE Sustainability Committee 7
Third Party Service Providers 26
Invesco Real Estate ESG Objectives 8
Employees 27
Recent ESG Measures 9
Communities 29
Materiality 10
Governance 31
United Nations Sustainable Development Goals 11
Leadership & Climate Change 33
Performance Verification 12
Eliminating Conflicts of Interest 35
PRI 13
Decision Making Process of Asset Manager 35
GRESB 14
Upgraded Credit Rating 35
Green Building Certifications and Ratings 15
Business Continuity 36
Environmental 17
Forward Thinking Measures to Improve Investor Value 36
Like-for-Like Change (2018-2019) 18
Rotation Rules 37
Energy Efficiency 19
Thought Leadership 38
Greenhouse Gas Emissions 20
Risk Assessments 38
Renewable Energy 20
Data Privacy & Cybersecurity 38
Alternative Transportation 20
Anti-Bribery 39
Water Conservation 21
Ethics & Code of Conduct 39
Waste Reduction 22
ESG Memberships 40
Sustainable Materials 23
GRI Content Index 41
Indoor Air Quality 23
Green Bond Issuance 24
ABOUT THIS REPORT
This is Invesco Office J-REIT, Inc. (“IOJ”)’s second annual sustainability report and covers IOJ’s ESG
initiatives and progress for the 2019 calendar year. All figures are as of December 31st, 2019.
This report has been prepared in accordance with the GRI Standards: Core Option.
Due to the fluid nature of IOJ, it is difficult to compare absolute metrics over time. Therefore, the majority
of the environmental performance metrics are normalized by floor area.
For questions regarding this report, contact Portfolio Management Department in Invesco Global Real Estate
Asia Pacific, Inc.
2 Invesco Office J-REIT, Inc. 2019 Sustainability Report
A Message from Our
Executive Director
We would like to express our sincere gratitude for your continued support
and interest with Invesco Office J-REIT (IOJ) through these unprecedented
times. Now, more than ever, it is apparent that we need to continue our focus
on resilience and ESG integration throughout our investment management
practices.
No matter the challenge, we seek to manage IOJ consistently and diligently.
This includes maintaining robust risk, financial, and operating controls; having
an unwavering devotion to our customers and communities; investing in and
supporting our employees; creating a culture that reinforces integrity, fairness,
and responsibility; and advancing sustainability throughout our business.
IOJ discloses ESG performance in our bi-annual investor reports, in our annual Sustainability Report, and through
third-party reporting schemes such as GRESB. IOJ submitted to the GRESB Real Estate Assessment for the first
time in 2019. In the 2020 Assessment, IOJ ranked 3rd in the Japan/Office: Corporate/Listed peer group with a
score of 88. As we continually strive to improve, implemented some strategic initiatives in 2019 to improve our ESG
performance that was reflected within our 2020 GRESB score. Several of our 2019 ESG highlights include:
• 100% of properties (by property count) completed an Indoor Air Quality (IAQ) audit
• 100% of properties (by property count) track and monitor landlord-controlled energy, water and
waste/recycling data
• 89% of properties (by property count) have achieved a green building certification/rating, an increase of
52.7% from 2018
• 94% of properties (by property count) host building-wide community service events
• 84% of properties (by property count) have installed energy-efficient lighting in the building
Looking forward, we will continue to build a strong portfolio by making focused investments in large-scale office
buildings located in metropolitan areas, while maximizing investor value by securing stable earnings over the medium
and long-term and steadily enhancing the value of assets.
We are pleased to present our second annual sustainability report following the Global Reporting Initiative guidelines.
We thank you for your interest in our progress toward our ESG goals and welcome your insight and feedback.
Ryukichi Nakata
Executive Director,
Invesco Office J-REIT, Inc.
3 Invesco Office J-REIT, Inc. 2019 Sustainability Report
2019 IOJ ESG Highlights
Whole Building Greenhouse Gas Direct
Emissions Intensity Indirect
kgCO2e/m2
100
6
6
80 5
60
40
88
81 77
100% Of properties performed an
indoor air quality audit in 2019
20
Whole Building Energy Use Intensity
n=11 n=18 n=19 (kWh/m2)
0
2017 2018 2019
500
Whole Building Water Use Intensity 400
(Liters/m2)
1,000
300
800
200 459 458 442
600
980 914
400 881
100
200
n=11 n=18 n=19
n=13 n=17 n=18 0
0 2017 2018 2019
2017 2018 2019
LIKE-FOR-LIKE WASTE DIVERTED
81.5% 2018: 379 Metric Tons
51.5
The amount of waste diverted is
equivalent to the combined weight of 51.5
2019: 688 Metric Tons 6-ton elephants
4 Invesco Office J-REIT, Inc. 2019 Sustainability Report
Company Overview
Invesco Office J-REIT, Inc.
“IOJ” or “The Fund”
IOJ was established on February 27, 2014 by the Asset Manager as the organizer under the Act on Investment Trusts
and Investment Corporations of Japan. IOJ was listed on the Real Estate Investment Trust Securities Market of the
Tokyo Stock Exchange on June 5, 2014, with the fundamental goal of maximizing investor value by making focused
investments in large-scale office buildings located in metropolitan areas.
The table below lists the 19 assets IOJ had across Japan in 2019.
IOJ Fund Composition
Property Name Location Square Meters (m2)
Ebisu Prime Square Shibuya-ku, Tokyo 67,581
CS Tower Taito-ku, Tokyo 32,997
Queen’s Square Yokohama Nishi-ku, Yokohama-shi, Kanagawa 498,283
Nagoya Prime Central Tower Nishi-ku, Nagoya-shi, Aichi 59,603
Tokyo Nissan Nishi-Gotanda Building Shinagawa-ku, Tokyo 21,405
ORTO Yokohama Kanagawa-ku, Yokohama-shi, Kanagawa 57,262
Nishi-Shinjuku KF Building Shinjuku-ku, Tokyo 9,828
Shinagawa Seaside East Tower Shinagawa-ku, Tokyo 43,014
Akiba CO Building Chiyoda-ku, Tokyo 6,958
Sun Towers Center Building Setagaya-ku, Tokyo 25,577
Hakata Prime East Hakata-ku, Fukuoka-shi, Fukuoka 9,213
Kinshicho Prime Tower Koto-ku, Tokyo 28,789
Aqua Dojima East Kita-ku, Osaka-shi, Osaka 24,726
Nishi-Shinjuku Prime Square Shinjuku-ku, Tokyo 36,899
Kojimachi Crystal City Chiyoda-ku, Tokyo 21,635
Prime Tower Shin-Urayasu Urayasu-shi, Chiba 76,767
Techno Wave 100 Kanagawa-ku, Yokohama-shi, Kanagawa 50,464
IBF Planning Building Shibuya-ku, Tokyo 2,190
Otowa Prime Building Bunkyo-ku, Tokyo 5,720
Total 1,084,631
Asset Manager
Invesco Global Real Estate Asia Pacific, Inc. “IGRE” or the “Asset Manager”
IGRE, which is a member of the Invesco Group1 (a corporate group comprising Invesco Ltd.) and belongs to its real estate
business division named Invesco Real Estate (IRE), is the Asset Manager of IOJ and is registered under the Financial
Instruments and Exchange Act (“FIEA”) as an asset manager for IOJ. The Asset Manager was incorporated under the
laws of Delaware on January 25, 1999 and the Invesco Group acquired the Asset Manager from American International
Group in December 2010.
Invesco Real Estate has a wealth of experience investing in major office, retail, residential, hotel and logistics properties
in major cities across the world. It also has a strong track record in Japan with ¥1.2 trillion in cumulative investments
in Japan as of December 2019 (including investments continuously managed by the Asset Manager when the Invesco
Group acquired the Asset Manager from American International Group in December 2010). The Asset Manager is solely
responsible for all Japan-related real estate asset management for the wider Invesco Group. This uniquely positions the
Asset Manager to benefit from the Invesco Group’s extensive global capabilities and expertise in investing in real estate
assets in Japan and globally.
1 “Invesco Group” refers to the corporate group consisting of Invesco Limited (principal office: Atlanta, Georgia, USA; listed on the New York Stock
Exchange) and its subsidiaries and affiliates including the asset management company.
5 Invesco Office J-REIT, Inc. 2019 Sustainability Report
Invesco Invesco Real Estate
Invesco Ltd., was originally Invesco Real Estate2 (“IRE”) was established in 1983 to
incorporated in December 1935 provide real estate investment management services
under the laws of England and to tax-exempt institutional clients. IRE began servicing
Wales. Although several of its U.S. investors in 1983 and non-U.S. investors in 1995.
constituent corporate entities are Originating as part of the Lomas & Nettleton organization,
significantly older, Invesco Ltd. the firm was purchased by Invesco Ltd. in April 1990 and
in its modern form was created became Invesco Real Estate.
by the 1997 combination of two
asset management businesses: Invesco and AIM, both of IRE is strategically managed by the firm’s Global Executive
which had been founded in the 1970s. Committee, which oversees the Executive Committees of
each investment strategy, including North American Direct
Invesco is headquartered in Atlanta, Georgia, United Real Estate, European Direct Real Estate, Asian Direct Real
States, and has offices in 25 countries. Estate, and Real Estate Securities.
With the corporate office centrally located in Dallas, Texas,
United States, and regional offices throughout the world,
IRE is able to effectively source exceptional acquisition
opportunities nationwide.
WHAT IRE OFFER ITS CLIENTS:
EXPERIENCE
Established in 1983, IRE manages global investments in
direct real estate, real estate securities including equity
and debt, infrastructure securities and master limited
partnerships (MLPs).
Singular Focus
IRE’s real estate business is focused solely on
investment management. IRE does not have conflicting
business interests, such as investment banking,
insurance, property management or leasing. This
reduces the risk of conflicts of interest, and allows it
to focus our energies on its fiduciary responsibility to
each client.
Global Platform
With offices in twenty-one financial centers around the
world, IRE team focuses on top-down fundamentals and
bottom-up local market intelligence. Its global presence,
combined with a centralized team, allows it to identify
and manage the best investment opportunities in the
most attractive markets.
2: “Invesco Real Estate” means the name of the business unit and
corporations globally engaging in the real estate business, among the
Invesco global headquarters in Atlanta, Georgia Invesco Group companies.
6 Invesco Office J-REIT, Inc. 2019 Sustainability Report
Invesco Real Estate 550 Employees Worldwide | 21 Offices | 16 Countries
As of December 31, 2019
North American Direct Real
Estate Investments
$37.4 Billion Under Management
Luxembourg
Since 1983 London
Prague
Warsaw
Global Securities Management New York
Paris
Milan
Munich
Beijing
San Francisco Madrid Seoul
Newport BeachAtlanta
$25.4 Billion Under Management Shanghai Tokyo
Dallas
Since 1988 Hong Kong
Hyderabad
European Direct Real Estate
Investments Singapore
$14.6 Billion Under Management
Since 1996
Asian Direct Real Estate Sydney
Investments
$7.3 Billion Under Management
Since 2006
IGRE Sustainability Committee
IOJ’s sustainability strategy and objectives are reviewed every 3 months by the Sustainability Committee of the
Asset Manager. The implementation of our sustainability objectives is fully integrated into IGRE/IRE’s investment
management process including acquisitions, asset management, construction, and disposition. A sustainability plan is
initially developed including the budgeting of anticipated costs in the acquisition/underwriting risk assessment process.
The plan is implemented throughout the holding period. Each asset’s sustainability achievements are collected semi-
annually in IOJ’s Business Plan—and reviewed at the asset and fund level as part of the semi-annual budgeting process.
Sustainability objectives include green building certifications, compliance with local energy efficiency laws, monitoring
energy and water usage, building upgrades, green operational practices, waste and recycling, and tenant and community
engagement. The Sustainability Committee stays abreast of ESG issues, continually enhancing our sustainability
program to mitigate risk and improve returns.
Yasuyuki Tsuji Ryukichi Nakata Takanori Yamada
Managing Director Managing Director Senior Director
Head of Japan IOJ’s Fund Manager Head of Asset Management
Head of Operations
Yasuhito Inoue Hiroto Kai Atsuko Tazawa
Senior Director Director Director
Head of Acquisitions Head of Portfolio Management Co-Head of Portfolio Management
7 Invesco Office J-REIT, Inc. 2019 Sustainability Report
Invesco Real Estate ESG Objectives
Invesco Real Estate (IRE) is an investment center for Invesco Advisers, Inc. , which is an indirect,
wholly owned subsidiary of Invesco Ltd. A critical element to the success of IRE is the firm’s
focused platform and business model, which allows IRE to execute real estate investment
strategies globally. IRE’s primary responsibility is to maximize the financial return of its clients’
investments.
IRE recognizes there are environmental, social and economic implications to all of the decisions
it makes as an investment manager. Therefore, in assessing risks and opportunities regarding
Environmental, Social and Governance (ESG), IRE remains focused on the financial implications
of its decisions as well as the social and environmental impact.
Further, IRE believes by taking a well-thought through and disciplined approach to ESG, IRE can successfully balance its
social and environmental responsibilities while meeting the needs of its clients and fulfilling its fiduciary responsibilities.
ESG is integrated into all phases of the Investment management process. Specifically, IRE’s ESG Objectives across its
strategies globally focus on the following:
ENVIRONMENTAL
• Measuring and regularly reporting building energy, emissions, water and waste within IRE’s control, and in doing so seeking to continually and
steadily improve performance across IRE’s managed portfolios. Targets are established at the property level and reviewed no less than annually.
IRE’s long-term reduction target is 10% or approximately 1% per year in energy, emissions, water and waste.
• Evaluating and implementing low-cost measures, capital improvements and new technologies to improve the performance of IRE’s assets and
advance the built environment.
• Using Energy Rating schemes such as ENERGY STAR Portfolio Manager and NABERS (where applicable) to evaluate the energy efficiency of
buildings. Pursuing certification for eligible buildings annually.
• Evaluating the feasibility of pursuing third-party green building certifications using schemes prevalent in each specific region such as LEED, BREEAM,
HQE, Green Star, and CASBEE, as well as health and wellness certifications such as WELL and Fitwel.
• Taking a managed approach to the procurement of energy in deregulated energy markets.
• Including ESG as part of the due diligence process during acquisition and assessing the resiliency of IRE’s assets when faced with climate-related risks.
SOCIAL
• Providing tools and resources to engage property managers on sustainability issues.
• Encouraging sustainable practices by IRE’s tenants through the deployment of tenant engagement tools relevant to each property type.
• Providing services and amenities at IRE’s properties such as gyms, bicycle storage, and green spaces that encourage building occupants to lead
healthier lifestyles.
• Training IRE’s employees on environmental, social, governance, and health and well-being issues.
• Engaging with the local community on sustainability-related issues through programs in place at Invesco, Ltd., Invesco Real Estate and the direct real
estate assets IRE manages.
• Encouraging IRE’s employees to play active roles in the growth and development of the communities in which they live and work through
volunteering and charitable contributions.
• Supporting diversity and inclusion in our workforce by providing training, communications and creating a work environment that optimizes the full
potential of IRE’s employees.
GOVERNANCE
• Leading the real estate industry in the implementation of ESG practices through the direction of our ESG Taskforce and integrating sustainability into
our decision making by incorporating senior management.
• Transparently disclosing IRE’s ESG strategy and performance to investors through reporting frameworks such as the Global Real Estate Sustainability
Benchmark (GRESB), Global Reporting Initiative (GRI), the European Association for Investors in Non-Listed Real Estate Vehicles (INREV), Carbon
Disclosure Project (CDP), United Nations Principles for Responsible Investment (UN PRI), etc. and by producing asset-level ESG scorecards as part of
the annual budgeting process.
• Ensuring that IRE’s employees adhere to the highest standards of honest and ethical conduct through confirming their compliance with IRE’s Anti-
Bribery policy and Code of Conduct.
8 Invesco Office J-REIT, Inc. 2019 Sustainability Report
Recent ESG Measures
ENVIRONMENTAL
Green Building Certifications
• 18 properties out of 19 properties in the IOJ portfolio achieved a Green Building Certifications (GBC) as of
October 2020.
• Certified ratio: 94.7% (based on number of properties), 59.5% (based on gross floor area).
Green Lease
• At 14 out of 19 properties of the portfolio, “environmental consideration“ clauses were added to new
leases as of October 2020.
• Existing building renovations performed using environmentally friendly methods.
• Tenants have agreed to cooperate with IOJ to improve environmental performance of managed assets.
Green Bonds
• Issued Green Bonds (5-year bond and 10-year bond) with rating AA- (September 2020)
SOCIAL
Diversity and Inclusion
• 50% of IGRE’s managers are female as of November 2020.
Kids Workshop 2020 in Roppongi Hills
• In August 2020, the Cross Functional Team (CFT) organized online sessions
due to the COVID-19 pandemic explaining the history and role of money,
and its impact on our life and society, targeting 10-15 year-old children.
Invesco Women’s Network (IWN) Leadership
• Published a newsletter on the theme of “Diversity Thinking Under the
Influence of COVID-19“ in August 2020.
• Members moderated a virtual Halloween celebration via Zoom for Invesco employees and their families in
October 2020.
• Organized an online career development discussion in December 2020 called “Think Together for Women’s
Career Paths” to share and discuss perspectives and experiences regarding women’s career paths.
GOVERNANCE
Employee Training Programs
• IGRE employee training sessions on Human Resources, Compliance,
and Security topics were scheduled throughout 2019 and 2020
IOJ Cumulative Investment Program
• As of November 2020, 80.8% of IGRE employees participate
in the program.
MSCI ESG Rating
• IOJ achieved BBB rating in March 2020.
9 Invesco Office J-REIT, Inc. 2019 Sustainability Report
Materiality
A materiality assessment was performed to determine the importance of environmental, social, governance, and economic topics
to IOJ and its key stakeholders. Key stakeholders were determined based on significance of impact on and by Fund operations.
To establish which topics are material to IOJ and its investors, data and feedback were collected and analyzed using various
methods including:
• Reviewing documents published by top investors, such as Proxy Voting Guidelines, Investment Policy Manuals, Code of
Ethics, Objectives and Goals, and Corporate Sustainability Reports
• Engaging with internal leaders and stakeholder group liaisons in discussions about what is important to each group and
the future direction of the organization
• Reflecting feedback from key stakeholders including investors, lenders, tenants, third party service providers (LORD
Green Strategies, MSCI, Sustainalytics, JCR, global indexes and so on)
• Analyzing surveys taken by property management teams and occupants at Fund assets and other mechanisms to obtain
feedback
• Having discussions with the Sustainability Committee on relevant property and portfolio level concerns and topics
• Examining published documents, research, and guidelines by industry associations, such as the USGBC, GRI, GRESB,
UNPRI, and INREV
The discussions, feedback considerations, and document reviews led to the creation of the Materiality Matrix. This matrix includes
a variety of ESG topics and their relative priority to both IRE and its key stakeholders, and IOJ shares the Materiality.
IRE Materiality Matrix
11
Significance to Stakeholders
very important
22
24
23
5 8 1
7
17 14 28
13 25
21
19 16 26
9
27 20
3 6 15 10
4 18
important
12
2
important very important
Significance to Invesco Real Estate
ENVIRONMENTAL SOCIAL GOVERNANCE
1 Energy Conservation & GHG Emissions Reductions 11 Stakeholder Engagement 18 Industry Groups/Associations
2 Renewable Energy 12 Fair Housing 19 Transparency
3 Sustainable Materials 13 Community Impact 20 Data Privacy & Cyber Security
4 Alternative Transportation 14 Health & Wellness 21 Leadership/Corporate Governance
5 Waste Management & Recycling 15 Innovation & Technology 22 Legal Compliance
6 Responsible Land Use 16 Diversity & Inclusion 23 Ethics/Code of Conduct
7 Indoor Air Quality & Pollution Mitigation 17 Responsible Contractors
ECONOMIC
8 Water Conservation 24 Economic Performance
9 Sustainable Service Providers
25 Financial Risk due to Climate Change
10 Green Building Certifications
26 Resiliency
27 Economic Impacts on Communities
28 Systematic Risk Management
10 Invesco Office J-REIT, Inc. 2019 Sustainability ReportUnited Nations Sustainable Development Goals
The IOJ ESG Program supports the aims and objectives of the United Nations Sustainable Development Goals (SDGs), a
collection of 17 global goals set by the United Nations General Assembly in 2015 for the year 2030. These 17 goals serve
as a universal call to action to end poverty, protect the planet, and ensure that all people enjoy peace and prosperity.
We believe that investing responsibly by incorporating ESG practices into our investment activities can positively impact
the value we provide to clients – and help ensure a sustainable environment for future generations.
Materiality Topics Correlation to SDGs
The materiality topics are correlated to the United Nations Sustainable Development Goals and are present in IOJ’s
sustainability ESG objectives. This report is broken out by Environmental, Social, and Governance and follows the
material topics listed below. The Environmental section includes energy efficiency, water conservation, greenhouse
gas emissions, waste diversion, and green building certifications. The Social section showcases engagement with
our investors, tenants, property managers, and employees through events, programs, reports, and surveys. The
Governance section, which also includes Economic materiality topics, shows the participation in multiple industry
organizations, leadership, transparency, business continuity, and compliance.
ENVIRONMENTAL GOVERNANCE
Energy Conservation & 18 Industry Groups/Associations
1
GHG Emissions Reductions
19 Transparency
2 Renewable Energy
20 Data Privacy & Cyber Security
3 Sustainable Materials
21 Leadership/Corporate Governance
4 Alternative Transportation
22 Legal Compliance
5 Waste Management & Recycling
23 Ethics/Code of Conduct
6 Responsible Land Use
ECONOMIC
Indoor Air Quality &
7
Pollution Mitigation 24 Economic Performance
8 Water Conservation
25 Financial Risk due to Climate Change
9 Sustainable Service Providers
26 Resiliency
10 Green Building Certifications
27 Economic Impacts on Communities
SOCIAL
28 Systematic Risk Management
11 Stakeholder Engagement
12 Fair Housing
13 Community Impact
14 Health & Wellness
15 Innovation & Technology
16 Diversity & Inclusion
17 Responsible Contractors
11 Invesco Office J-REIT, Inc. 2019 Sustainability ReportPerformance Verification 12 Invesco Office J-REIT, Inc. 2019 Sustainability Report
PRI
The PRI (Principles for Responsible Investment), the world’s
leading proponent of responsible investment, has recently
released its findings from the 2019 PRI Assessment Reports
for its investor signatories.
Being a PRI signatory, Invesco Ltd. has reported, was assessed,
and is honored to announce that it has been awarded an
A+ rating for its overall approach to responsible investment
(Strategy and Governance) of for three consecutive years, in
2017, 2018, and 2019.
The PRI carries out the annual assessment based on how a
signatory has progressed year-on-year and relative to peers.
The investment categories are evaluated using six performance
bands (A+, A, B, C, D, and E), where A+ distinguishes the top
scoring signatories, representing a score of 95% or above.
In seven modules, Invesco matched or outperformed the peer
group, reflecting our global commitment to the Principles for
Responsible Investment.
2019 Invesco PRI Summary Scorecard
2017 Invesco Score 2018 Invesco Score 2019 Invesco Score 2019 Median Score
Strategy & Governance A+ A+ A+ A
Listed Equity - Incorporation A A A+ B
Listed Equity - Active Ownership A A A B
Fixed Income - SSA A+ A+ A B
Fixed Income - Corporate Financial A A A B
Fixed Income - Corporate Non-
A A A B
Financial
Fixed Income - Securitised E E E C
Property A A A B
Source: 2019 Assessment Report for Invesco Ltd., PRI.
You can find a copy of Invesco’s PRI Transparency Report at www.unpri.org
13 Invesco Office J-REIT, Inc. 2019 Sustainability ReportGRESB
GRESB (formerly known as the Global Real Estate
Sustainability Benchmark) was established by a group
of European pension funds in order to assess the ESG
performance of the real estate sector. Invesco Group has
been a member of GRESB since 2014. IOJ submitted to
GRESB for the first time in 2019. In 2020 IOJ ranked 3rd in
its peer group, Japan Office: Corporate Listed, with five
out of five stars and a score of 88.
In addition, IOJ increased its’ Public Disclosure level
from “C” in 2019 to “A” in 2020. GRESB Public Disclosure
evaluates the level of ESG disclosure by listed property
companies and REITs. The evaluation is based on a set of
indicators aligned with the GRESB Real Estate Assessment,
allowing for a comparison of ESG disclosure performance
between GRESB participants and non-participants.
2020 IOJ GRESB Ranking IOJ GRESB Public Disclosure Level
Japan | Office: Corporate | Listed
C A
3rd out of 11
2017 2018 2019 2020
2020 Comparison Group Average: B
2020 Global Average: C
IOJ GRESB Performance IOJ
Peer Group Average
Global Average
100
80
60
88
40 78 80 82
72 70
20
0
2019 2020
Looking forward to the 2020 GRESB Assessment, IOJ made strategic efforts to improve our
GRESB score. These efforts include:
• Implemented cost-effective upgrades to improve building efficiency, such as LED
lighting and efficient HVAC systems
• Pursued green building certifications for owned assets, increasing IOJ certifications
by 143% since 2018, with 10 new certifications in 2019
• Continued to implement green lease clauses in new leases to promote environmental
initiatives among tenants
• Published 1st annual IOJ Sustainability Report following the GRI Framework
14 Invesco Office J-REIT, Inc. 2019 Sustainability ReportGreen Building Certifications and Ratings
Green building certifications and ratings are third-party
verified acknowledgments of successful sustainability
and wellness efforts undertaken by owners, property
managers and building occupants. IOJ seeks to evaluate
and strategically obtain green building certifications
and ratings, such as the Comprehensive Assessment
System for Built Environment Efficiency (CASBEE) and
the Development Bank of Japan (DBJ) Green Building
Certification for eligible properties.
As of 2019, 84.2% of IOJ properties (by property count)
have achieved a green building certifications and/or rating.
Below is a list of the certifications and ratings for
the portfolio.
IOJ Green Building Certifications and Ratings
By Property Count
100
80
60
40 84.2%
20 35.7% 36.8%
0
2017 2018 2019
Building Sustainability Certifications
Property Name Certification Rating Rating Scale
Nagoya Prime Central Tower CASBEE S Ranked Rank C to S
Hakata Prime East CASBEE S Ranked Rank C to S
Kinshicho Prime Tower CASBEE S Ranked Rank C to S
CS Tower CASBEE A Ranked Rank C to S
ORTO Yokohama CASBEE A Ranked Rank C to S
Tokyo Nissan Nishi-Gotanda CASBEE A Ranked Rank C to S
Nishi-Shinjuku Prime Square CASBEE A Ranked Rank C to S
Shinagawa Seaside East Tower CASBEE A Ranked Rank C to S
Sun Towers Center Building CASBEE A Ranked Rank C to S
Kojimachi Crystal City CASBEE A Ranked Rank C to S
Techno Wave 100 CASBEE A Ranked Rank C to S
Otowa Prime Building CASBEE A Ranked Rank C to S
Prime Tower Shin-Urayasu CASBEE B+ Ranked Rank C to S
Nishi-Shinjuku KF Building CASBEE B+ Ranked Rank C to S
Akiba CO Building CASBEE B+ Ranked Rank C to S
DBJ Green Building
Ebisu Prime Square 3.0 Stars 1 to 5 Stars
Certification
15 Invesco Office J-REIT, Inc. 2019 Sustainability ReportCase Study: Sun Towers Center Building
Setagaya-ku, Tokyo
Sun Towers Center Building is a 27,577 m2 high-rise
office tower located in the Sancha neighborhood
southwest of downtown Tokyo. The building is within
walking distance of two commuter rail lines and is in
a popular location for IT and animation firms. The
building was built in 1992 and has undergone several
renovations that have improved energy efficiency.
Between 2017 and 2019, the property has decreased
total energy consumption by 13% and total water
consumption by 16%. In 2019 alone, the building
completed:
• Building Automation System upgrade
• HVAC system replacement
• Building retro-commissioning
• Indoor air quality audit
In September 2019, the property was awarded an A
Rank in the Comprehensive Assessment System for
Built Environment Efficiency (CASBEE) Real Estate
certification, earning 4 out of 5 stars in recognition of
its environmental performance.
13% decrease in total energy consumption
16% decrease in total water consumption
16 Invesco Office J-REIT, Inc. 2019 Sustainability ReportEnvironmental 17 Invesco Office J-REIT, Inc. 2019 Sustainability Report
Like-for-Like Change (2018-2019)
Below is a representative snapshot of the Fund’s performance. We have compiled data across all properties, where the
Landlord has access to such data and prepared a same-store comparison between 2018 and 2019.
ENERGY
4.5% 2018: 278,880 MWh
376
The reduction of 12,673 MWh of energy
consumption is equivalent to the annual
2019: 266,207 MWh electricity consumption of 376 homes
WATER
3.5% 2018: 595,976 m3
8.5
The reduction of 20,926 m3 of water
consumption is equivalent to the amount
2019: 575,050 m3 of water it takes to fill 8.5 Olympic sized
swimming pools.
WASTE DIVERTED
81.5% 2018: 379 Metric Tons
51.5
The amount of waste diverted is
equivalent to the combined weight of 51.5
2019: 688 Metric Tons 6-ton elephants
18 Invesco Office J-REIT, Inc. 2019 Sustainability ReportEnergy Efficiency
A core component of our ESG program is tracking and
monitoring energy efficiency. By staying informed about
when and how our properties use energy, we are able
to follow changes and recognize properties with greater
efficiency potential. Our property teams are required to
track and monitor all landlord-paid energy usage. Where
the landlord has access to tenant data, whole building
consumption is tracked. Obtaining energy data is a
key to identifying eligible properties for green building
certifications and rating systems such as CASBEE, DBJ
Green Building Certification, and BELS.
IOJ property teams continually look for opportunities to
enhance sustainability efforts by analyzing energy data,
conducting energy audits, and implementing energy
conservation measures. Asset managers are provided
quarterly Sustainability Performance Indicator Reports,
which highlight property performance and jump-start the
identification of potential projects. Property managers Case Study: Queen’s Square Yokohama
and tenants are encouraged to implement energy- Yokohama-shi, Kanagawa
saving policies and practices. In addition, property teams Queen’s Square Yokohama is a large multi-purpose
complete internal assessments of lighting, equipment, complex built in 1997. The property is conveniently
operations, and sustainability technology. connected to the Minatomirai Station and overlooks
the Port of Yokohama and the Yokohama Minatomirai
Hall. With over 200 stores and restaurants, Queen’s
84% of properties (by property count) Square Yokohama offers fine foods, exciting shops,
have installed efficient lighting and versatile event spaces.
In 2019, the property team at Queen’s Square
The 2019 Whole Building Energy Use Intensity (EUI) was Yokohama completed an LED lighting retrofit, replacing
442 kWh/m2, which decreased from 458 kWh/m2 in 2018. 12,639 fixtures in tenant spaces and 2,032 fixtures in
common areas. The new lighting fixtures are expected
to save a total of 1,917,115 kWh each year, the
Whole Building Energy Use Intensity equivalent of 1,355 metric tons of carbon dioxide
(kWh/m2) diverted from the atmosphere.
500 14,671 lighting fixtures upgraded
to LEDs
400
1,917,115 kWh of electricity saved
300 each year
200 459 458 442 1,355 metric tons of carbon
CO2 dioxide diverted from the
atmosphere each year
100
n=11 n=18 n=19
0
2017 2018 2019
The energy use intensity (EUI) is calculated by summing the twelve-
month, weather-normalized, source energy use (kWh) across properties
and dividing by the gross floor area coverage.
19 Invesco Office J-REIT, Inc. 2019 Sustainability ReportGreenhouse Gas Emissions Renewable Energy
Greenhouse gas emissions (GHG) are linked to energy There are many benefits to using energy from green power
usage and where the property is located. To better sources, including reduced greenhouse gas emissions,
understand our energy-related GHG emissions, IOJ energy supply diversification, job creation, reliability, and
properties track and analyze energy consumption data. public health improvement. Green power sources include
solar, wind, geothermal, low-impact biomass and low-
Direct emissions come from fuel sources burned onsite impact hydro resources.
such as natural gas. Indirect emissions come from energy
generated offsite such as electricity and district steam. GHG emissions can also be offset by purchasing renewable
In 2019, the GHG emissions intensity was 5 kgCO2e/ energy certificates (RECs), which are tradable energy
m2 for direct emissions and 77 kgCO2e/m2 for indirect commodities representing proof that electricity was
emissions. Overall the emissions intensity has decreased generated from a renewable energy source.
due to multiple energy efficiency projects such as
lighting retrofits. Emissions data includes changes in the
composition of the portfolio, and do not represent like-for-
like data. Shinagawa Seaside East Tower purchased
251 MWH of RECs in 2019
Whole Building Greenhouse Gas Direct
Emissions Intensity Indirect
kgCO2e/m2
Alternative Transportation
100
IOJ encourages employees and tenants to seek out
6 alternative transportation methods such as carpooling,
6
80 5 biking, and public transportation.
In today’s growing electric vehicle (EV) market, EVs
60 enhance property appeal and attract environmentally
conscious tenants and visitors. IOJ currently has EV
88 charging stations at three of our properties, Queen’s
40 81 77 Square Yokohama, ORTO Yokohama and Tokyo Nissan
Nishi-Gotanda. These charging stations are a premium
amenity that enhance property appeal in a growing
20
electric vehicle market and attract eco-conscious tenants.
n=11 n=18 n=19
0
2017 2018 2019
The graph represents the whole building direct and indirect emissions over
time for all properties. The values provided are absolute and include the
emissions from properties acquired and sold.
20 Invesco Office J-REIT, Inc. 2019 Sustainability ReportWater Conservation
A key component to lessening water usage is monitoring
consumption at the property level. Invesco requires its
property teams to track landlord-paid water usage, as well
as tenant usage where available, in a data management
software. This data is compared to historical usage,
property goals, and similar buildings.
Monitoring IOJ properties’ water use allows us to identify
opportunities for increased efficiency. Additionally, water
audits are conducted to provide recommendations for
water efficiency projects. In addition to saving water,
these projects lead to lower utility bills and reoccurring
operating costs for buildings and occupants.
Annual ESG Metrics Reports and Quarterly Sustainability
Performance Indicator Reports including asset- and
portfolio-level water usage are given to asset managers to
evaluate current performance.
The whole building water use intensity in 2019 was 881
Liters/m2, compared to 980 Liters/m2 in 2017—a decrease
of 10.1%.
Whole Building Water Use Intensity
(Liters/m2)
1,000
800
Case Study: Shinagawa Seaside East Tower
Shinagawa-ku, Tokyo
600
Shinagawa Seaside East Tower is a 43,014 m2 tower
980 built in 2004 containing office space and 300 hotel
914 881 rooms on the building’s upper levels. The 23-story
400
tower is directly connected to the Shinagawa Seaside
station in Tokyo’s “Shinagawa Seaside Forest”, a large
redeveloped area with office, retail, hotels, and high-
200 rise apartment buildings.
n=13 n=17 n=18 Shinagawa Seaside East Tower has efficient, easy-to-
0 maintain landscaping on the exterior of the ground level
2017 2018 2019 and on the 16th floor’s rooftop. In addition, the tower has
a smart irrigation system that was installed in 2015 to
The annual total water use intensity is calculated by summing the twelve- automatically water the plantings. The irrigation system
month, whole building water use and dividing by the gross floor area is comprised of a controller to manage the timing and
coverage. length of the watering, a sensor to control the watering
The water use intensities shown are only for properties with whole operation, and 9 separate electromagnetic valves to
building water consumption data available to the landlord. The intensities switch between the system’s 9 watering lines. Watering
only include properties with 12 months of data in the year indicated. The takes place from midnight to early morning each day, and
calculations are absolute and do not represent like-for-like data. Thus,
changes in the water intensity account for changes in the consumption of timers are adjusted for each season to align with weather
the portfolio year to year. variations.
21 Invesco Office J-REIT, Inc. 2019 Sustainability ReportWaste Reduction
By providing property teams with the necessary tools and
resources to reduce, reuse and recycle materials, we can
effectively minimize our waste production and potentially
increase diversion rates at each property. Our property
teams regularly monitor waste and recycling and obtain
monthly weights from haulers if available. Where weights are
not available, size of containers, number of containers, and
pickup frequency are tracked. This data is tracked in a data
management software alongside energy and water usage.
Annual ESG Metrics Reports are given to asset managers
to evaluate the current waste status of each property and
identify opportunities for improvement. Highlights from this
year’s ESG Metrics Report include:
• 84% of properties (by property count) have completed
a waste audit
• 100% of properties (by property count) have a
consumables recycling program
The waste diversion rate at IOJ properties was 19% in
2019, an 8% increase from 11% in 2018. The graph below
shows a like-for-like comparison of waste in 2018 and 2019
by waste stream.
Like-for-Like Waste Recycling
(Metric Tonnes) Incineration
Landfill
Diversion Rate
5,000 20
19%
Case Study: Kojimachi Crystal City
4,000 688 Chiyoda-ku, Tokyo
379 Kojimachi Crystal City is a 21,635 m2 office tower
470 completed in 1992. With a direct connection to
373 the Kojimachi train station, the property is highly
3,000 accessible to Tokyo’s central business district.
11% 10 From 2018 to 2019, Kojimachi Crystal City’s waste
diversion rate increased by 11.3% due to an increased
2,000 awareness of the building’s consumable recycling
program and the introduction of tenants’ paperless
3,198 programs. All tenants are provided with a pamphlet
2,961
from Chiyoda ward with information about the
1,000 importance of recycling to divert as much material
as possible from Tokyo’s landfills. By spreading
awareness and education to tenants, the property
team at Kojimachi Crystal City has been successful in
expanding its recycling program.
0 0
2018 2019
The graph represents the waste disposal method and percent diverted from
landfill for all properties owned in 2018 and 2019. The values provided are
Like-For-Like.
22 Invesco Office J-REIT, Inc. 2019 Sustainability ReportSustainable Materials Indoor Air Quality
The use of environmentally sensitive materials reduces The indoor environment can have an impact on the
the impact on the building occupants, building systems, wellbeing of our tenants and visitors. To support all
and the natural environment. Sustainable purchasing occupants, IOJ implements policies and programs to
addresses environmental and social factors as well as provide indoor air quality (IAQ) that promotes health and
the total costs associated with each purchase. The Asset comfort. Many IAQ issues can be prevented by educating
Manager does this on behalf of IOJ by providing property building occupants and staff.
teams with resources to educate themselves and tenants
on the benefits of buying and encouraging the use of Our property teams take an annual ESG Survey including
healthy, eco-friendly products. questions about IAQ topics. Results from the 2019 ESG
survey include:
Materials that are considered sustainable include:
• Reusable goods and materials
• Readily recyclable products 100% performed an IAQ audit in 2019
• Products from local vendors, which reduces the
impacts of transportation and supports the local have implemented strategies to
•
economy
Goods made from recycled content and/or rapidly
100% enhance indoor air quality such
as IAQ testing, CO2 monitoring,
renewable materials, such as bamboo, cotton, wool, green cleaning, etc.
linoleum, and cork
These strategies have been implemented as part of
• Buying multiple products at once, which reduces our ongoing effort to keep indoor air clean for building
cost and waste by reducing the number of vendors, occupants and visitors.
in addition to minimizing transportation impacts
Case Study: CS Tower
Taito-ku, Tokyo
CS Tower is a 32,997 m2 office tower that
was completed in 1991. The property is
conveniently located within 10 minutes
walking distance from four major train
stations in Tokyo, Japan.
To ensure the indoor air at CS Tower
meets all regulations, air quality tests are
conducted six times per year. In April 2019,
the property team developed a maintenance
plan for its HVAC filtration system to
support the building’s indoor air quality and
to confirm the HVAC equipment is working
properly. A visual check of the air filters
is conducted every six months. The filters
can be washed up to four times and are
replaced every two years. Monitoring the
status of air filters and regularly changing
them is an effective way to maximize the
quality of a building’s indoor air, extend the
life of the HVAC system, and save money
by preventing air blockages due to clogged
filters.
23 Invesco Office J-REIT, Inc. 2019 Sustainability ReportGreen Bond Issuance
IOJ issued a green bond with a subsidy from the Ministry of Environment. This is the very first of its kind in the J-REIT
industry and raised ¥5.5 billion as a single A+ grade bond. IOJ conducts an effective effort to maintain sustainability for
the environment by focusing on investor value improvement by utilizing government subsidies.
Overview of Issuance
Items Outline
Amount Issued ¥5.5 Billion
Duration 5 Years
Interest Rate 0.580%
Issue Date December 13, 2018
Redemption December 13, 2023
Second-Party Opinion Provider Sustainalytics Japan
Eligible Green Projects
1. Buildings that have achieved certification or recertification
• B+, A or S under CASBEE
• 3, 4 or 5 Stars under the DBJ Green Building Certification Program
2. Buildings that reduce CO2 emissions by more than the required reduction rate (which was set by the authority)
compared to the standard emissions volume (also set by the authority) during the most recent fiscal year
3. Refurbishment
• More than 10% CO2 emissions or energy consumption reduction
• More than 10% in water consumption reduction
• More than one level of improvement in the CASBEE Certification or DBJ Green Building Certification
24 Invesco Office J-REIT, Inc. 2019 Sustainability ReportStakeholder Engagement 25 Invesco Office J-REIT, Inc. 2019 Sustainability Report
Investors Tenants & Customers
Invesco Group is dedicated to delivering an investment IOJ continually seeks opportunities to enrich our tenants
experience that helps clients get more out of life. It has: and customers’ experience as they work, play, and live in
our buildings.
Specialized investment teams managing
investments across a comprehensive range of Property teams
asset classes, investment styles, and geographies. provide tenants with
sustainability guides,
More than 8,000 employees focused on client which detail the
needs across the globe. methods and specifics
of how to be more
eco-friendly within a
Proximity to our clients with an on-the-ground typical office space,
presence in 25 countries. including topics such
as energy and water
Solid financials, an investment grade debt rating, consumption, waste
and a strong balance sheet. and recycling, and
renovations.
Invesco Group has one single focus: to help clients IOJ distributes tenant satisfaction surveys every other
achieve their investment objectives. Its comprehensive year. Tenants are asked about overall tenant satisfaction,
range of active, passive and alternative investment building appearance, building security, and satisfaction
capabilities has been constructed over many years to help with property management team. These surveys
clients achieve their investment objectives. It draws on encourage tenant feedback and help us better understand
this range of capabilities to provide customized solutions opportunities for potential improvements.
designed to deliver client-oriented outcomes.
IOJ integrates the investor-oriented mindset of the Asset
Manager and Invesco Group. It is committed to providing
transparent information on sustainability. IOJ participates
Third Party Service Providers
annually in the GRESB assessment, which helps investors IOJ utilizes third party management companies to provide
understand how the Fund’s sustainability performance professional local leasing skills and property management
compares to other Funds’ performances. Our goal is to expertise. Our property managers are integral in the
identify opportunities for improvement while mitigating development, implementation, and success of each
environmental, social, and governance risks. We are property’s sustainability plan. IOJ provides the tools
continually looking to strengthen our performance and and resources necessary to educate property managers
ensure our sustainability initiatives align with our clients’ on ESG matters and encourage the implementation of
expectations on both the property and portfolio levels. sustainable practices at our properties.
We provide our clients with annual GRI Reports and bi- In addition, Invesco engages a third-party sustainability
annual Investor Reports. These reports give investors an consultant, LORD Green Real Estate Strategies, Inc., to
overview of the Fund’s ESG actions and performance. provide IGRE with strategic
ESG consulting, training,
and resources such as the
Suppliers Sustainability Reference Guide
and Sustainability Checklists.
Third-party suppliers and contractors provide essential
services and products that contribute to the overall
success of many IOJ endeavors. IGRE’s Vendor Selection
Regulations and the Regulations for Outsourcing help
guide property managers and other participants through
the process of selecting contractors and suppliers. This
policy seeks to ensure that such contractors will be
selected based upon demonstrated ability to provide
high quality services, and thereby enhance value of
IOJ managed real estate investments, as evidenced by
their experience, reputation, responsiveness, fees, and
dependability.
IOJ is committed to acting ethically and with integrity
in all our business dealings and relationships. We expect
the same level of integrity from all of our suppliers,
contractors, and other business partners. More information
on our supplier partner policies and relations can be found
by referencing the Vendor Selection Regulations and the
Regulations for Outsourcing.
26 Invesco Office J-REIT, Inc. 2019 Sustainability ReportEmployees
At Invesco Group, its people are the foundation of its success. It firmly believes in the continuous pursuit of performance
excellence and in the power of cultivating smart, adept employees. Striving for performance excellence is a founding
principle of the firm and defines what it means to work at Invesco Group.
Professional Development Health & Wellness
To ensure that Invesco Group’s employees can deliver Invesco Group supports its employees with awareness,
on its clients’ goals, it invests significantly in talent education, and prevention to promote their ongoing health
development, technology and tools and resources and wellbeing. Invesco Group provides a range of programs
that help its employees reach their full potential both and plans to assist employees in maintaining or addressing
personally and professionally. Through the internal their physical and mental wellbeing both inside and outside
development programs, Invesco Group’s employees can of work. Invesco Group provides a comprehensive benefit
access hundreds of online training materials on a variety package to all employees that is competitive both within
of topics such as Ethics, Integrity and Trust, Motivation, its industry and various geographies while supporting the
Problem Solving, Decision-Making, and Manager and Invesco Purpose to help employees and their eligible family
Leadership Programs. members get more out of life.
Invesco Group encourages employees to be actively
Invesco’s Leadership Development Programs
involved in their ongoing health and retirement wellbeing.
Leading@Invesco – This three-month program is designed to help Invesco Group utilizes a global view considering all
leaders of functions and groups reach higher levels of success and
employees in all countries when designing benefit
produce stronger results with their teams and for Invesco Group.
programs while taking into account local laws, regulations,
Managing@Invesco – This four-month learning program helps customs, and practices.
the managers of Invesco Group drive increased engagement and
performance with the people that they manage. These rewards include:
In addition to classroom, virtual and online courses,
Invesco Group also offers tuition and certification Competitive health and wellness programs for
reimbursement for expenses incurred by employees who employees and their families
are seeking to improve their knowledge in job-related
subject matters. This benefit includes industry and Retirement savings plans
professional accreditations, as well as college-level classes
taken at nationally recognized, accredited institutions.
Flexibility to help employees balance work and
Invesco Group supports its employees’ development family responsibilities
through business-led mentoring programs and rotation
assignments. Through these programs, employees work Rich opportunities to develop employee’s
with their managers to discuss their career and business- professional skills and knowledge
related goals and create development plans to help
them meet their goals. This program increases shared Life insurance plans and income-protection benefits
knowledge and helps it foster a culture where diverse
people and ideas thrive.
Holiday and time-off benefits
Compensation
Employee’s talent is recognized and rewarded for their Opportunities to contribute to the community
individual achievements as well as team contributions.
Invesco Group reviews pay equity at all levels to ensure
that individuals with similar roles and responsibilities are Opportunities to become an Invesco shareholder
receiving comparable wages, with bonuses determined on
the merits of their performance. In addition, the CEO and
SMDs receive the same benefits as all employees (e.g.,
participation in the same 401(k) plan without supplemental
retirement plans).
Pay equity reviews are also performed at Invesco Group
throughout the regions in the world. These reviews look at pay
bands by role and by gender. As needed, third-party vendors
are engaged for the reviews. Regular checks for pay equity are
performed when running offer scenarios for candidates.
27 Invesco Office J-REIT, Inc. 2019 Sustainability ReportEngagement Diversity and Equal Opportunity
Invesco Group believes listening is an important part In support of Invesco Group’s diversity and inclusion
of creating a culture that encourages collaboration, aspirations beyond gender, it has activities across the
inclusivity and diversity of thought. Every other year, globe that focus on engaging and developing the many
employees of Invesco Group are invited to participate in talented people who work for Invesco Group, while also
a confidential survey that helps it gauge their sentiment ensuring that Invesco Group attracts new talent from a
across a variety of engagement categories and provide broad range of backgrounds. These initiatives include
their candid feedback. programs focused on developing the next generation of
leaders, training efforts intended to strengthen Invesco
Engagement scores from the Employee Surveys have Group’s inclusive culture, development of internal and
steadily increased over the past decade and continue to external partnerships and more robust recruitment
exceed relevant benchmarks. The level of engagement practices to attract diverse talent into the firm. Some of
from employees positions Invesco Group well ahead of our specific initiatives in 2019 included:
some of the highest performing organizations.
• Many of Invesco Group’s senior managing directors
committed to a reverse mentoring relationship in 2020
• All hiring managers to complete Unconscious Bias
87% are proud to be associated
with Invesco
training by the end of 2020 and all senior leaders to
complete Unconscious Bias training by the end of 2021
• Launched new Business Resource Groups that focus
on the different aspects of diversity at our firm and
drive a sense of belonging
80%
feel they can be themselves
• Pursuing a goal of 95% diverse candidate slates and
at Invesco without worrying
whether they will be accepted interview panels for new hires. During 2019, 65% of
the candidate slates were diverse and 81% of the
interview panels were diverse.
*Figures above are based on the Employee Survey conducted in 2019.
Invesco Group’s global diversity and inclusion initiatives:
Invesco Women’s Network
The Invesco Women’s Network
(IWN) was founded in 2010 to create
opportunities and forums for the
1 Engage: Improve inclusion by responding to
survey feedback
Develop: Grow Invesco Group’s Reverse
2
development, networking and
engagement of Invesco women. Its goal Mentoring Program and review the approach to
is to further enhance the company’s ability to attract, sponsorship in broader talent process review
retain, develop, and advance women at all levels and
Attract: Widen our talent pool through
across all functions within the firm to the benefit of our
clients, employees, and shareholders. 3 developing job descriptions that are fully
inclusive (flexibility, language, content).
Percentage of female representation of Invesco senior
managers by reporting year:
PARTNERSHIPS
We are proud to work with organizations that
share our diversity of thought
26% 28% 32%
2017 2018 2019
Having met the lower end of our gender diversity goal (30-
40%) one year early, in December 2019 with 32%, we are
now raising the bar to meet a goal of 35-40% by the end
of 2022.
28 Invesco Office J-REIT, Inc. 2019 Sustainability ReportYou can also read
