According to a recent corporate responsibility report put out by Kimco Realty Corp., Conor Flynn, CEO, said that adaption to change is perhaps one of the most significant contributing factors to sustainability and “it is especially critical in this time of transformation in the retail industry.”
According to Flynn, “At its core, sustainability is about building a business that will stand the test of time. Our efforts are expanding the boundaries of sustainability within the REIT industry, moving beyond a traditional single-issue focus on environmental performance to include employee, community and vendor performance.”
In 2017, the company expanded employee training, recognition and wellness efforts, in addition to launching a new platform focused on driving community giving and volunteerism among its associates, the report notes. According to David Jamieson, Executive Vice President and Chief Operating Officer. “We have also been responding to increasing investor demand for transparency around non-financial performance, and we’re proud to achieve a perfect score on the Global Real Estate Sustainability Benchmark’s inaugural Public Disclosure Ranking.”
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, according to a press release.
Kimco Realty Corp. is a real estate investment trust headquartered in New Hyde Park, NY, that is one of North America’s largest publicly traded owners and operators of open-air shopping centers. As of March 31, 2018, the company owned interests in 475 US shopping centers comprising 81 million square feet of leasable space primarily concentrated in the top major metropolitan markets.