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Japan's first ESG real estate fund set for launch

Farm lender Norinchukin picks properties tied to green energy and worker health

Tokyo families harvest rice grown on a rooftop in Roppongi. Buildings in Japan's capital are trying different ways of going green. (Photo by Arisa Moriyama)

TOKYO -- Japanese farm lender Norinchukin Bank will market real estate investment funds focusing on properties that achieve sustainability targets, in what it calls a first for the domestic asset management industry.

Norinchukin, which has grown from a savings institution for farmers into a global investor with around 106 trillion yen ($982 billion) in assets, has devoted 10 billion yen of its own money to a handpicked portfolio of real estate investment trusts.

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