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Air Quality Blog Part 2: What is WELL certification? A new indicator that proves health management and enhances corporate value
Health management, human capital management, and ESG management are essential to improve corporate value, and creating an environment where employees can work comfortably is important. There are probably many managers, general affairs, and human resources departments wondering, "How can we create an environment where employees can work with peace of mind?", and many developers wondering, "What specific measures can we take to increase the competitiveness of the offices our company provides?"
As a result, a certification system for buildings that takes into consideration people's health and comfort, called "WELL Certification," is now attracting attention.
What are the benefits of WELL certification? Here we will introduce an overview of WELL certification and its benefits.
Improving corporate value through health management: The background to the demand for WELL certification
In recent years, labor shortages and responding to the SDGs have become important issues for companies, and there is a demand for "investing in people." One representative initiative is "health and productivity management" promoted by the Ministry of Economy, Trade and Industry. Health and productivity management is when companies consider employee health management from a management perspective and work on it strategically. "Investing" in employee health leads to a more active workplace, improved productivity, and improved business performance.
The fact that health management increases corporate value is also reflected in stock prices. The Ministry of Economy, Trade and Industry selects "Health and Productivity Management Stocks" and "Health and Productivity Management Excellent Corporations" from among companies that excel in health and productivity management. The average stock price of companies selected as Health and Productivity Management Stocks in 2023 has exceeded the Tokyo Stock Price Index (TOPIX) over the past 10 years (※1).
Since people spend a lot of time in the workplace, creating a comfortable working environment is an important element of health management. As such, WELL certification is attracting increasing attention as an international indicator of a comfortable working environment.
What is WELL certification? ~Building certification that demonstrates healthy management increases corporate value~
WELL Certification (WELL Building Standard) is a certification system for buildings that emphasizes the health and comfort of people who spend time in the building. It was developed by the US company Delos in 2014. Buildings and spaces are inspected and their performance is evaluated based on various criteria from the perspective of health and well-being (being in good physical, mental and social condition). Obtaining WELL Certification is objective proof that a company has a comfortable working environment, which leads to increased corporate value.
WELL certification is gaining popularity around the world, particularly in the United States, the United Kingdom, and China. In Japan, interest is also growing as more companies are working on health management. As of July 2024, the total number of projects that have obtained WELL certification or are under review has reached approximately 27,200 worldwide and approximately 200 in Japan (*2).
What are the benefits of obtaining WELL certification? - Multifaceted improvement of corporate value (from health management to real estate value) -
What are the benefits of obtaining WELL certification? Here are some of the most common ones.
Improving corporate value through health management
In recent years, investors have placed emphasis on SDGs and ESG management. By obtaining WELL certification, companies can concretely demonstrate their stance on SDGs and ESG management, making it possible to effectively appeal to investors. In addition, it can increase the credibility of efforts toward designation as a "Health and Productivity Management Brand" or "Health and Productivity Management Excellent Corporation" by the Ministry of Economy, Trade and Industry.
Promoting employee health
Providing a comfortable work environment promotes employee health and is expected to improve productivity. Furthermore, being a company that cares about health is effective in securing talent and reducing turnover. According to a survey of job-hunting students and their parents, "consideration for employee health and working style" was highly supported as a desired working condition in a job (※ 3). Obtaining WELL certification increases a company's attractiveness and is expected to secure talented talent.
Increase in property value
Obtaining environmental certification improves the evaluation of real estate. According to materials published by the Ministry of Land, Infrastructure, Transport and Tourism, analysis has shown that mid-sized office buildings that have obtained environmental certification have new contract rents that are nearly 10% higher than buildings that do not have environmental certification (*4). Obtaining WELL certification increases the value of real estate owned by a company and gives the company an advantage in recruiting tenants.
How to obtain WELL certification? ~Practicing health management to increase corporate value~
What types of WELL certification are there, and how are the evaluation items and inspection methods structured? Here is an overview.
Types of WELL Certification: Aim for "Gold" or "Platinum" to Increase Corporate Value
■ WELL certification type
There are two types of WELL certification available, which can be selected according to the intended use of the building.
・WELL Certification: Applies to the entire building. Mainly for company-owned buildings
・WELL Core Certification: For common areas and management offices. Mainly for tenant buildings
■ WELL certification levels
There are four levels of WELL certification:
·platinum
·gold
Silver
·bronze
In Japan, 90% of certified projects have achieved gold or higher status (as of February 2024)(*5).
Requirements for obtaining WELL certification: 10 concepts for achieving health and productivity management
■ WELL certification evaluation items
The evaluation items for WELL certification are divided into the following 10 concepts.
·air
·water
·nutrition
·light
·motion
- Thermal comfort
·sound
·material
·heart
·community
■ Requirements for obtaining WELL certification
For each concept, there are mandatory items and additional items. To obtain certification, all mandatory items must be met.
The certification level is determined according to the points awarded.
・Platinum: 80 points or more
・Gold: 60-79 points
・Silver: 50-59 points
Bronze: 40-49 points
■WELL certification review method
There is a document review and an on-site review, during which air quality, water quality, light, sound, thermal comfort, etc. are measured.
WELL Certification and "Air Quality" - The latest requirements for improving corporate value -
"Air quality" is important for obtaining WELL certification. Of the 116 evaluation items, 14 are related to "air."
In particular, some of the requirements have become stricter in the latest version of WELL v2. Previously, it was possible to obtain certification without making new capital investments such as replacing office furniture and installing ventilation systems. However, now, if you are aiming for a higher certification level, it is highly likely that such workarounds will no longer be possible.
Therefore, in order to obtain gold or platinum certification, it is necessary to ensure that points are scored in the "air" category. High-precision air quality monitoring is required to monitor the state of the air and various components.
Macnica offers Indoor air quality monitoring solution called "AiryQonnect."
AiryQonnect can handle not only the highly accurate air quality monitoring required for WELL certification, but also additional points such as "Air Quality Monitoring and Recognition (A08)" and "Thermal Comfort Monitoring (T06)."
AiryQonnect is being used in many certified projects across Japan, including Azabudai Hills Mori JP Tower (Azabudai 1, Minato-ku) (※ 6), which received WELL Core Platinum-level certification in May 2024.
For more information about air quality monitoring at Azabudai Hills, please see the following press release.
KDDI and Macnica Support Azabudai Hills' Acquisition of WELL Certification by Providing Air Quality Monitoring Solutions - Providing a comfortable office space and supporting the health and comfort of workers -
Summary
This time, we introduced the "WELL Certification," which is gaining international attention. Obtaining WELL certification is an objective proof of "healthy management" and is effective in improving corporate value.
"Air" is an important evaluation item in WELL certification. In order to obtain gold or higher certification, it is essential to conduct air quality monitoring and ensure a reliable score.
Macnica 's Indoor air quality monitoring solution, "AiryQonnect," meets the strict accuracy requirements of WELL certification, enabling the air quality monitoring required for WELL certification.
References:
(※1) “Promotion of Health and Productivity Management (March 2024)” by the Healthcare Industry Division, Commerce and Services Group, Ministry of Economy, Trade and Industry (METI)
https://www.meti.go.jp/policy/mono_info_service/healthcare/downloadfiles/240328kenkoukeieigaiyou.pdf, (accessed 2024-08-09)
(*2) International WELL Building Institute “WELL Projects” (International WELL Building Institute)
https://account.wellcertified.com/directories/projects, (accessed 2024-07-31)
(※3) Japan Research Institute, Limited, "FY2016 Healthy Life Extension Industry Creation Promotion Project (Health and Productivity Management and Health Investment Promotion Project) Survey Report (March 2017)"
(Ministry of Economy, Trade and Industry)
https://www.meti.go.jp/policy/mono_info_service/healthcare/downloadfiles/H28_houkokusyo_kenkoukeiei.pdf, (accessed 2024-08-09)
(※4) Environmental Real Estate Promotion Committee, XYMAX Real Estate Research Institute, Junichi Yoshida, Junichiro Onishi, "Economic Analysis of Environmental Management"
(July 16, 2015) (Ministry of Land, Infrastructure, Transport and Tourism, Environmental Real Estate Promotion Review Committee Document)
https://www.mlit.go.jp/common/001206929.pdf, (accessed 2024-08-09)
(※5) Green Building Japan "What is WELL?" (Green Building Japan General Incorporated Association)
https://www.gbj.or.jp/well/about_well/, (accessed 2024-08-09)
(※6) Mori Building Co., Ltd. "Azabudai Hills Mori JP Tower," "Toranomon Hills Station Tower," and "JAKARTA MORI TOWER"
Received the highest rank of Platinum certification in "WELL Core" (Mori Building Co., Ltd. press release dated May 27, 2024)
https://www.mori.co.jp/company/press/release/2024/05/20240527120000004681.html, (accessed 2024-08-09)
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