KIMCO’S CORPORATE RESPONSIBILITY REPORT POSITIONS THE COMPANY AS A NEXT GENERATION REIT
The publication of our annual corporate responsibility report each year is an exciting time for Kimco -- an opportunity to celebrate successes as well as to articulate our vision for the future. Our 2016 report marks many important milestones in our environmental, social, and governance performance. But the underlying theme of this year’s report is our even grander plans over the next few years to establish Kimco as a next-generation REIT.
These plans include further improvements to property operations and construction, leasing, employee development, and governance that are relevant to stakeholders including investors, tenants, vendors, communities, and our own employees. Together with the strides we have made to establish a 2020 Vision, these initiatives are helping to position Kimco for success.
Our focus on owning and managing high-quality shopping center properties in top U.S. markets is enhanced by the company’s efforts to address the environmental, social, and governance impacts of the organization. By investing in technologies and improved processes, Kimco has delivered significant year-over-year reductions in energy consumption across our portfolio. By developing new and innovative education and wellness programs, we aim for engaged, healthier, and more satisfied employees. Our ongoing commitment to best practices in the governance arena maintains Kimco’s legacy as a public REIT pioneer and a firm investors trust to deliver consistent financial results.
Kimco’s sustainability achievements for 2016 include:
- In the environmental arena, investing in property improvements that are delivering significant operational savings -- a cumulative 18 percent reduction in same-site energy consumption since 2011. The company is going beyond existing operations to embed sustainability criteria into the design of new properties and major redevelopments.
- In the social arena, making a major commitment to developing a talented team. Kimco’s employees are our most important asset, and we have made significant investments in diversity, education, and wellness programs in 2016.
- In the governance arena, continuing to build upon our long-term commitment to best practices in areas such as stakeholder engagement, corporate governance, ethics, and external reporting. We recently expanded board- and executive-level involvement in our corporate responsibility program, and have also published a comprehensive ESG Policy to clearly articulate program governance to external audiences.
- Completing 170 sustainable improvement projects for a total investment of $10.1 million.
- The redevelopment of Wilde Lake Village achieved its Leadership in Energy and Environmental Design (LEED) certification. Additional redevelopments of Cupertino Village, Pentagon Centre, and Hickory Ridge are pursuing their LEED certifications.
- Producing 3,564 megawatt hours of solar energy.
- Diverting approximately a quarter of all operation waste (57,313 metric tons) from landfills or incinerators.
- Contributing 476 hours of employee volunteer service through Kimco’s Community Connection program.
- Named to the Dow Jones Sustainability North America Index, GRESB Green Star, and Newsweek’s Top Green Companies in the U.S.
The 34-page Corporate Responsibility Report follows the Global Reporting Initiative’s (GRI) G4 Sustainability Reporting Guidelines. The summary report is intended for all audiences and covers the most relevant content for stakeholders. The report appendix is designed as optional supplemental reading for those stakeholders interested in more detailed GRI indicator data on Kimco’s performance.
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