Kimco Realty® (NYSE: KIM), North America’s largest publicly
traded owner and operator of open-air, grocery-anchored shopping
centers and a growing portfolio of mixed-use assets, has published
its 2022 Corporate Responsibility Report. The report highlights the
company's progress in addressing environmental, social, and
governance (ESG) topics, which have been a focus for Kimco and its
stakeholders for over a decade.
“We remain dedicated to our focus on ESG, acknowledging its
inherent connection to the maximization of long-term stakeholder
value," said Kimco CEO Conor Flynn. "Our 2022 achievements reflect
our ongoing commitment to sustainability and corporate
responsibility, which we continue to view as essential to our
business and our culture."
In addition to achieving its annual targets around stakeholder
engagement, tenant satisfaction, giving, employee satisfaction, and
employee wellness in 2022, Kimco also achieved two of its mid- and
long-range ESG goals ahead of schedule:
- Established dedicated space for the activation of outside
common areas at more than 20% of properties, a goal originally set
for 2030.
- Improved common area water efficiency at properties by more
than 20% compared to 2020, surpassing a target initially
established for 2025.
In addition to these accomplishments, select 2022 ESG program
highlights include the following:
- The company’s capital plan targets an investment of over $10
million annually to achieve its ESG goals, including its
Science-Based Target, by funding initiatives such as efficient
lighting, smart metering, and irrigation projects. As of December
31, 2022, Kimco was ahead of pace towards achieving its Scope 1 and
2 Science-Based Target.
- Kimco launched the Milton Cooper Trailblazer in Real Estate
Award, administered by The International Council of Shopping
Centers (ICSC). This initiative grants ten individual $10,000
scholarships to undergraduate and graduate students in the retail
real estate industry annually, with at least half of the
scholarships awarded to individuals in underrepresented
groups.
- Kimco also enhanced its ESG governance structure, tying a
portion of executive compensation to the attainment of ESG goals
and expanding its ESG department to three full-time positions.
- Kimco's commitment to leadership in ESG was recognized in 2022,
with the company being awarded Nareit’s Retail Leader in the Light
Award for the third time in recognition of outstanding ESG
practices within the retail REIT sector. Moreover, Kimco was
designated a Best Place to Work for LGBTQ+ Equality in 2022,
achieving a perfect score on the Human Rights Campaign Foundation’s
2022 Corporate Equality Index (CEI).
The full 2022 Corporate Responsibility Report can be accessed
here.
This report was prepared in reference to the Global Reporting
Initiative’s (GRI) Sustainability Reporting Standards and
incorporates disclosures aligned with the Sustainability Accounting
Standards Board (SASB) Standards and Task Force on Climate-related
Financial Disclosures (TCFD).
About Kimco Realty®
Kimco Realty® (NYSE:KIM) is a real estate investment trust
(REIT) headquartered in Jericho, N.Y. that is North America’s
largest publicly traded owner and operator of open-air,
grocery-anchored shopping centers and a growing portfolio of
mixed-use assets. The company’s portfolio is primarily concentrated
in the first-ring suburbs of the top major metropolitan markets,
including those in high-barrier-to-entry coastal markets and
rapidly expanding Sun Belt cities, with a tenant mix focused on
essential, necessity-based goods and services that drive multiple
shopping trips per week. Kimco Realty is also committed to
leadership in environmental, social and governance (ESG) issues and
is a recognized industry leader in these areas. Publicly traded on
the NYSE since 1991, and included in the S&P 500 Index, the
company has specialized in shopping center ownership, management,
acquisitions, and value enhancing redevelopment activities for more
than 60 years. As of March 31, 2023, the company owned interests in
529 U.S. shopping centers and mixed-use assets comprising 90
million square feet of gross leasable space. For further
information, please visit www.kimcorealty.com.
The company announces material information to its investors
using the company’s investor relations website
(investors.kimcorealty.com), SEC filings, press releases, public
conference calls, and webcasts. The company also uses social media
to communicate with its investors and the public, and the
information the company posts on social media may be deemed
material information. Therefore, the company encourages investors,
the media, and others interested in the company to review the
information that it posts on the social media channels, including
Facebook (www.facebook.com/kimcorealty), Twitter
(www.twitter.com/kimcorealty) and LinkedIn
(www.linkedin.com/company/kimco-realty-corporation). The list of
social media channels that the company uses may be updated on its
investor relations website from time to time.
Safe Harbor Statement
This communication contains certain forward-looking statements
within the meaning of Section 27A of the Securities Act of 1933, as
amended, and Section 21E of the Securities Exchange Act of 1934, as
amended. The company intends such forward-looking statements to be
covered by the safe harbor provisions for forward-looking
statements contained in the Private Securities Litigation Reform
Act of 1995 and includes this statement for purposes of complying
with the safe harbor provisions. Forward-looking statements, which
are based on certain assumptions and describe the company’s future
plans, strategies and expectations, are generally identifiable by
use of the words “believe,” “expect,” “intend,” “commit,”
“anticipate,” “estimate,” “project,” “will,” “target,” “plan,”
“forecast” or similar expressions. You should not rely on
forward-looking statements since they involve known and unknown
risks, uncertainties and other factors which, in some cases, are
beyond the company’s control and could materially affect actual
results, performances or achievements. Factors which may cause
actual results to differ materially from current expectations
include, but are not limited to, (i) general adverse economic and
local real estate conditions, (ii) the impact of competition,
including the availability of acquisition or development
opportunities and the costs associated with purchasing and
maintaining assets, (iii)the inability of major tenants to continue
paying their rent obligations due to bankruptcy, insolvency or a
general downturn in their business, (iv) the reduction in the
company’s income in the event of multiple lease terminations by
tenants or a failure of multiple tenants to occupy their premises
in a shopping center, (v) the potential impact of e-commerce and
other changes in consumer buying practices, and changing trends in
the retail industry and perceptions by retailers or shoppers,
including safety and convenience, (vi) the availability of suitable
acquisition, disposition, development and redevelopment
opportunities, and risks related to acquisitions not performing in
accordance with our expectations, (vii) the company’s ability to
raise capital by selling its assets, (viii) disruptions and
increases in operating costs due to inflation and supply chain
issues, (ix) risks associated with the development of mixed-use
commercial properties, including risks associated with the
development and ownership of non-retail real estate, (x) changes in
governmental laws and regulations, including, but not limited to,
changes in data privacy, environmental (including climate change),
safety and health laws, and management’s ability to estimate the
impact of such changes, (xi) valuation and risks related to the
company’s joint venture and preferred equity investments and other
investments, (xii) valuation of marketable securities and other
investments, including the shares of Albertsons Companies, Inc.
common stock held by the company, (xiii) impairment charges, (xiv)
criminal cybersecurity attacks disruption, data loss or other
security incidents and breaches, (xv) impact of natural disasters
and weather and climate-related events, (xvi) pandemics or other
health crises, such as coronavirus disease 2019 (“COVID-19”),
(xvii) our ability to attract, retain and motivate key personnel,
(xviii) financing risks, such as the inability to obtain equity,
debt or other sources of financing or refinancing on favorable
terms to the company, (xix) the level and volatility of interest
rates and management’s ability to estimate the impact thereof, (xx)
changes in the dividend policy for the company’s common and
preferred stock and the company’s ability to pay dividends at
current levels, (xxi) unanticipated changes in the company’s
intention or ability to prepay certain debt prior to maturity
and/or hold certain securities until maturity, (xxii) the company’s
ability to continue to maintain its status as a REIT for federal
income tax purposes and potential risks and uncertainties in
connection with its UPREIT structure, and (xxiii) the other risks
and uncertainties identified under Item 1A, “Risk Factors” and
elsewhere in our Annual Report on Form 10-K for the year-ended
December 31, 2022 and in the company’s other filings with the
Securities and Exchange Commission (“SEC”). Accordingly, there is
no assurance that the company’s expectations will be realized. The
company disclaims any intention or obligation to update the
forward-looking statements, whether as a result of new information,
future events or otherwise. You are advised to refer to any further
disclosures the company makes or related subjects in the company’s
quarterly reports on Form 10-Q and current reports on Form 8-K that
the company files with the SEC.
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version on businesswire.com: https://www.businesswire.com/news/home/20230629251588/en/
David F. Bujnicki Senior Vice President, Investor Relations and
Strategy Kimco Realty Corporation 1-866-831-4297
dbujnicki@kimcorealty.com
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