Kimco Realty Corporation (NYSE:KIM) has been awarded NAREIT’s 2013 Retail Leader in the Light Award, a preeminent achievement for leading real estate companies. The annual award recognizes portfolio-wide sustainability and excellence in energy efficiency. As the designated retail award recipient, Kimco was recognized alongside leading owners from the industrial, office, residential and other key real estate sectors.
“This award is an exciting milestone for Kimco and we are honored to be recognized as an industry leader for our commitment to corporate responsibility,” said Will Teichman, Director of Sustainability for Kimco. “Kimco is dedicated to building a thriving and sustainable business—one that succeeds by delivering long-term value for tenants, investors, employees and communities alike.”
Each year since the launch of its Corporate Responsibility Program in 2010, Kimco has increased its relative standing in scoring published by both the Carbon Disclosure Project (CDP) and Global Real Estate Sustainability Benchmark (GRESB). In the most recent 2013 reporting cycle, Kimco increased its CDP disclosure score by 73% from 48 to 83. In addition, the company increased its overall GRESB score by 144%, advancing from 16 to 39.
Kimco’s corporate responsibility efforts include the implementation of a utility management initiative to monitor resource use and reduce expenses at individual centers; pioneering landlord-installed solar panels at shopping centers to decrease tenant energy costs; developing a lighting control system that reduces parking lot electric consumption by up to 25%; deploying a national tenant waste management program and partnering with the International Council of Shopping Centers to develop a first-of-its-kind Property Efficiency Scorecard.Kimco continues to build its corporate responsibility program and to improve annual reporting on program progress. By 2014, the company anticipates it will release its first comprehensive corporate responsibility report—leveraging the Global Reporting Initiative standard and providing additional insights into the company’s program.