Kimco Realty®, North America’s largest publicly traded owner and operator of open-air, grocery-anchored shopping centers, including mixed-use assets, announced today the release of its 2021 Corporate Responsibility Report. This ninth annual report details the company’s performance in environmental, social, and governance (ESG) areas.
2021 Report Highlights
Now over a decade since the launch of Kimco’s formalized efforts around ESG and the hire of its first Director of Sustainability, the company’s focus has expanded and its programs have evolved, but its holistic, stakeholder-driven approach continues to drive industry-leading innovation in the ESG space and is a hallmark of the company’s success.
The past year saw meaningful progress made towards the 16 public ESG goals announced in early 2021. Highlights from the year include:
- Formally adjusted the company’s executive compensation plan to tie a portion of incentive pay to performance against the company’s ESG goals.
- Hired Tamara Chernomordik as Senior Director of ESG, leading the strategic development and implementation of the company’s initiatives and guiding the company towards achieving its publicly stated goals.
- Received the Best Place to work for LGBTQ+ Equality designation after achieving a perfect score on the Human Rights Campaign Foundation’s 2022 Corporate Equality Index, a nationally recognized benchmarking survey and report measuring corporate policies and practices related to LGBTQ+ workplace equality.
- Donated $1.4 million in cash and in-kind contributions to support small businesses and charitable causes in the unique and diverse communities in which the company operates.
- Launched four unique KIMunity Councils and doubled the membership of the company’s existing Diversity, Equity and Inclusion (DEI) Council. These councils are made up of associates across the organization who directly participate in driving strategy in the areas of DEI, giving, wellness, sustainability, and tenant engagement.
- Successfully completed the strategic and immediately accretive merger with Weingarten Realty Investors, applying a people-first approach to welcome and onboard approximately 100 new associates to the Kimco family. The team is now focused on applying the company’s unique ESG platform and sustainable operational approach to the 150-plus new assets in its portfolio.
“Over the last 12 months of stakeholder engagement, there has been an increased focus on addressing climate risk, and on diversity, equity and inclusion initiatives – these are themes that are incorporated into the 16 ESG goals that we announced in early 2021. This past year, we focused making meaningful progress towards those goals, and we put in place the infrastructure that would support our comprehensive efforts,” said Conor Flynn, Kimco’s Chief Executive Officer.
He continued, “Today, our commitment to ESG permeates every area of our business and every level of our organization. We will continue to engage with and serve our stakeholders, because we are certain that this approach will drive the best possible results for both our stakeholders and our company.”
The digital version of Kimco’s 2021 Corporate Responsibility Report can be accessed here.
This report was prepared in accordance with the Global Reporting Initiative’s (GRI) Sustainability Reporting Standard and incorporates disclosures aligned with the Value Reporting Foundation’s Sustainability Accounting Standards Board (SASB) Standards and Task Force on Climate-related Financial Disclosures (TCFD).