Commercial, GHG Emissions - February 19, 2021
Kimco Realty strives for net-zero emissions by 2050
Kimco Realty Corp., which operators open-air, grocery-anchored shopping centers and mixed-use assets in North America, announced on Feb. 17 a series of five and ten-year goals that will guide the company’s ESG strategy and build upon its achievements in these areas to date.
“We believe that business is one of the most powerful engines for change in society. The commitments we make today in the areas of climate change, diversity, and community impact will make a difference now and for future generations,” Conor Flynn, Kimco Realty CEO, said in a statement.
When it comes to operations and resiliency initiatives, Kimco recognizes that immediate action is critical to reducing the effects of climate change. In alignment with the Paris Climate Agreement’s objective of limiting average global temperature increases to well below 2C°, Kimco is committing to a 30% reduction in Scope 1 and 2 GHG emissions from 2018 to 2030, with the goal of achieving net-zero emissions by 2050.
Kimco’s other ESG goals include: Communicate Openly with Stakeholders, Embrace the Future of Retail, Engage Tenants and Communities, Lead in Operations and Resiliency, and Foster an Engaged, Inclusive and Ethical Team.