Kimco’s 3rd Corporate Responsibility Report celebrates 15 percent cumulative reduction in energy consumption since 2011
Any way you measure it, Kimco’s energy savings efforts have achieved significant results in a short period of time. Since officially launching our corporate responsibility program in 2011, we have reduced same-site energy consumption within the company’s operational control by 15 percent. In the past year alone, we invested $9.7 million in 172 sustainable improvement projects – a major commitment resulting from the launch of our LED conversion program Illumi-Nation.
Kimco’s energy-saving and other sustainability initiatives are highlighted in our recently released 2015 Corporate Responsibility Report. This annual report, which the company first issued in 2014, draws attention to the priorities and programs that guide our corporate responsibility program; including areas such as operations and construction, tenant leasing, employee development, and governance that are relevant to Kimco’s many stakeholders.
Some of the highlights in this year’s report include:
- Decreasing same-site energy consumption within operational control by over 15 percent since 2011, the direct result of significant investments in property efficiency upgrades and adoption of management best practices.
- Completing 172 sustainable improvement projects with a total investment of $9.7 million.
- Producing 3,380 megawatts per hour in solar energy.
- Diverting approximately a quarter of all operational waste (54,495 metric tons) from landfills.
- Contributing 361 hours of employee volunteer service through Kimco’s Community Connection program, which gives participants two full days of paid time off each year to help their communities.
- Joining the Dow Jones Sustainability North America Index and achieving a consecutive designation as a GRESB Green Star recipient.
- Receiving recognition by multiple third-party organizations including a 2014-2015 Green Lease Leader Award, 2015 Newsweek Top Green Companies in the U.S., and multiple Lighting Energy Efficiency in Parking (LEEP) awards.
A team effort, across our national portfolio
Every operating region within our company has played a part in the success of this program to date, with members of our Property Management and Construction departments leading the way across the country to implement sustainable improvements at our shopping centers. Two programs, in particular, have driven the majority of energy savings to date.
Illumi-Nation is our most visible lighting program that helps cut energy consumption while dramatically improving safety and nighttime curb appeal. Through this program, launched in 2014, we upgraded exterior parking lot and building fixtures with LED lighting in approximately 100 properties. In 2016, we are targeting another 60 properties, with plans to retrofit all of our Tier 1 shopping centers by 2020. Overall, Illumi-Nation is one of the largest energy-reduction commitments of its kind by a shopping center owner to date.
Through the Property Gateway System, Kimco developed and deployed a proprietary state-of-the-art lighting control system at hundreds of properties in the past five years. These systems allow property managers to fine-tune lighting schedules and selectively override controls in the event of repairs or inspections, all remotely from a Kimco iPad application. Our reporting has found that the typical Property Gateway System reduces energy consumption in common areas by 18 percent. Kimco will largely complete the deployment of this technology this year.
Looking toward the future
The first five years of this program have been both challenging and rewarding, but we don’t intend to stand still. We are looking ahead to the next five years, and have established a number of key priorities:
- Further reducing same-site energy and water consumption within our operational control, driven through programs like our national LED lighting conversion and recently launched water conservation efforts in the Western U.S.
- Adoption of green construction standards, to ensure the company’s significant investment in redevelopment and development projects contributes meaningfully to both the company’s financial and environmental performance. These green construction standards focus on material and process improvements for all tenant build-outs.
- Forging closer partnerships with retail tenants on sustainability, to address the largest driver of environmental impacts at our properties while also helping to lower the total cost of occupancy for retailers.
Kimco’s 32-page Corporate Responsibility Report follows the Global Reporting Initiative’s (GRI) G4 Sustainability Reporting Guidelines, which represent the leading international standard for corporate sustainability reporting. The report covers relevant content for stakeholders, and its appendices offer supplemental reading for stakeholders interested in more detailed GRI indicator data. You can download a copy of the full report on Kimco’s Corporate Responsibility site.