Kimco Realty® Publishes 2022 Corporate Responsibility Report

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:

1. Established dedicated space for the activation of outside common areas at more than 20% of properties, a goal originally set for 2030.
2. 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).

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