NAREIT recognizes Kimco’s sustainability leadership with its Retail Leader in the Light Award
NAREIT recognized Kimco last week by honoring us with a 2013 Leader in the Light Award. These preeminent awards recognize NAREIT members that have demonstrated excellence in sustainability and energy efficiency. Kimco was the sole recipient in the Retail category.
NAREIT has presented its Leader in the Light Awards since 2005. However, the organization enhanced its judging criteria starting last year by linking the award in part to the results of the Global Real Estate Sustainability Benchmark (GRESB) survey. Launched in 2009, the GRESB survey is a leading disclosure and benchmarking tool that many institutional investors use to gain deeper insight into the performance of public and private real estate portfolios relative to sustainability.
NAREIT gave Kimco its Retail Leader in the Light Award this year in part because we have significantly improved our GRESB score over the past year — by 144 percent, moving from 16 to 39. Kimco has also increased its score within another major, investor-driven sustainability disclosure forum, the Carbon Disclosure Project (CDP). We’ve improved our CDP disclosure score by 73 percent from 48 to 83.
The NAREIT award is the first national honor we’ve received in sustainability, marking the significant progress we’ve achieved through our Corporate Responsibility Program. We launched the program three years ago to expand and strengthen our sustainable business practices, and we aim to continue building on our foundation and momentum to further deliver long-term value for investors, tenants, associates, and communities.
You can read more about why Kimco won NAREIT’s award in our press release, learn about our sustainability efforts on our website, and follow our sustainability progress through ongoing updates our blog.