- Full allocation achieved: Kimco Realty has allocated $493.7 million from its first green bond entirely to sustainable projects.
- Significant impacts on the environment: The projects supported include renewable energy, green buildings and energy efficiency, which lead to significant savings in greenhouse gas emissions.
- Commitment to sustainability: Kimco’s investments demonstrate a strong commitment to environmental protection and long-term community benefits.
Kimco Realty® (NYSE: KIM), a well-known REIT and leading provider of high-quality open-plan grocery-anchored shopping centers and mixed-use properties in the United States, has achieved a significant milestone with the full allocation of $493.7 million from its first green bond issued in July 2020. This achievement underscores Kimco’s commitment to sustainable growth and sound financial management.
“We are incredibly proud to have achieved full allocation of our first green bond – an achievement that underlines our commitment to sustainable growth and prudent financial management.“, said Glenn G. Cohen, Executive Vice President and CFO of Kimco. “By investing in projects such as green buildings, renewable energy and sustainable water and energy projects, we not only increase the value of our assets but also provide long-term benefits to our investors and the community.“
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Supported sustainable projects:
- Renewable energy: Kimco invested in a 988.8 kW solar project at Carmans Plaza in Massapequa, NY, which is expected to generate 1.2 GWh of renewable energy annually, saving approximately 678 tons of CO2 emissions annually.
- Green buildings: Funds supported LEED Silver-certified projects such as The Milton and The Witmer® towers at the Pentagon Center in Arlington, VA, and the West Alex multi-purpose building in Alexandria, VA, as well as 19 ENERGY STAR-certified tenant spaces.
- Energy efficiency: Across 129 buildings, energy efficiency initiatives resulted in an estimated reduction in greenhouse gas emissions of 7,500 MTCO2e, demonstrating Kimco’s proactive approach to minimizing environmental impacts.
- Sustainable water management: Water efficiency projects at 46 properties, including Dania Pointe in Dania Beach, FL, achieved an average increase in water efficiency of over 35%, with stormwater systems designed to withstand extreme weather events.
This allocation is consistent with Kimco’s long-term public objectives and solidifies its role as an industry leader in corporate responsibility and environmental sustainability. For more details on Kimco’s initiatives and publicly stated objectives, please see the company’s 2023 Corporate Responsibility Report.
