Kimco Realtyone of North America’s largest publicly traded owners and operators of open-air, grocery-anchored shopping centers and mixed-use assets, announced the release of its 2019 Corporate Responsibility Report. This seventh annual report provides a thorough account of Kimco’s quantitative and qualitative performance in the areas of the environment, social impact, and governance (ESG).
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“Since formally launching our ESG program a decade ago, there has never been a time more imperative than now for the team at Kimco to focus on advancing our organization in the areas of sustainability, social impact and governance as we navigate extraordinary circumstances”
“Since formally launching our ESG program a decade ago, there has never been a time more imperative than now for the team at Kimco to focus on advancing our organization in the areas of sustainability, social impact and governance as we navigate extraordinary circumstances,” said Conor Flynn, Chief Executive Officer at Kimco Realty. “In response to recent events throughout the nation, we’re identifying and refining important company initiatives and ensuring diversity and inclusion are an integral part of our culture. The COVID-19 pandemic and the country’s awakening to systemic racism reinforce the refrain ‘we’re all in this together,’ and we’re making an even stronger commitment to leading and being part of the change.”
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With this report, Kimco is for the first time aligning its ESG disclosure with guidelines established by the Sustainability Accounting Standards Board (SASB) and the Task Force on Climate-related Financial Disclosures (TCFD), marking a notable step forwarding in improving stakeholder transparency.
2019 Report Highlights
Kimco’s recent achievements include:
- Refining ESG governance at the Board and Management levels, forming an ESG Steering Committee and adopting 5 strategic pillars around which the program and report are now organized.
- Joining the FTSE4Good Index Series for the first time, a key milestone for companies demonstrating strong ESG practices.
- Receiving the prestigious Leader in the Light Award from the National Association of Real Estate Investment Trusts (Nareit) – the organization’s highest sustainability honor for retail REITs.
- Issuing an innovative $2 billion “green” credit facility, tied to climate performance.
- Exceeding the company’s carbon goal, reducing same-site Scope 1 and Scope 2 GHG emissions by more than 10% between 2015 and 2020.
- Becoming a signatory to the CEO Action for Diversity and Inclusion Pledge, reinforcing Kimco’s commitment to creating a trusting environment where all ideas are welcomed and issues around diversity and inclusion can be openly discussed.
- During the COVID-19 crisis, Kimco’s associates banded together with a singular focus on assisting its tenants, creating an innovative Tenant Assistance Program (TAP), rolling out a nationwide Curbside Pickup™ Program, and implementing other measures to ensure its retailers can weather this crisis.
- Launching a 24/7 National Call Center, offering its tenants and other stakeholders a fast and convenient way to contact Kimco with questions and concerns, and further enhancing its customer-centric approach to property operations.
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