07/07/2022 | by
Pride Banners
PRIDE banners at Marketplace at Factoria-Bellevue, WA. Photo courtesy of Kimco Realty Corporation.

This case study was published in the 2022 REIT Industry ESG Report, which details the REIT and publicly traded real estate industry's environmental, social, and governance (ESG) performance and features 32 case studies showcasing REIT leadership and ESG innovation from a variety of sectors. The report serves as a practical tool for shareholders and stakeholders to assess the scale and impact of the REIT industry's ESG commitments and initiatives. Applicable footnotes and/or citations for this case study are available in the full report.

Delivering Impact Through Local Community Engagements

Kimco Realty Corporation’s longstanding commitment to ESG has enabled the organization to deliver positive impact to the communities where they operate.

Back to School event at Whittwood Town Center - Whittier, CA. Photo courtesy of Kimco Realty Corporation.

With over a decade of advancing ESG initiatives, Kimco Realty has met and exceeded its original targets. To continue this momentum, Kimco instated 16 comprehensive and ambitious ESG goals in early 2021, one of which aims to give $1 million annually in cash and in-kind contributions to support small businesses and charities within the communities in which Kimco operates. In 2021, Kimco’s efforts included two community-centered engagement strategies— both of which were enormous successes, delivering financial and societal benefits to the community.

The first engagement, focused on promoting diversity, equity, and inclusion, was held in June 2021 in celebration of Pride Month. Throughout the month, Kimco prioritized inclusive LGBTQ+ messaging across its properties and on its social media platforms. Kimco hung banners, signs, digital screens, rainbow balloon backdrops, and flags, and also created murals, spotlighted tenant rainbow merchandise, and held special events. These community events were held in conjunction with support for the Trevor Project, a non-profit organization that focuses on suicide prevention efforts among LGBTQ+ and questioning youth. Following the initiative, Kimco donated $10,000 to the organization and received positive recognition from community members who appreciated the inclusivity efforts.

The second program, “Be Cool, Be Kind”, was held during the back-to-school shopping season (July through September) to bring awareness to the importance of mental health, especially during the pandemic and remote schooling. Kimco held events for families that included free activities for children, live music, contests, and “kindness” themed backdrops for photo opportunities. The events were promoted through social media campaigns and aimed to encourage kindness during the upcoming school year. Following the initiative, Kimco surprised local chapters of the National Alliance on Mental Illness (NAMI) with donations totaling $50,000.

“In our support, education, and advocacy work we hear from parents how desperately alone they and their LGBTQ+ children feel. Every institution that is hostile or silent, whether it be government, church, school, friends, business, etc., can make or break the dreams of LGBTQ+ youth and their parents that the future holds hope for them. Symbols matter. They give a sense that the loneliness and absence of belonging is lifted, even if only temporarily. I want to thank Factoria Marketplace [Kimco Realty] management for this valuable display. You communicate a message that everyone of authenticity and loving heart is championed.”
-Ginger Chein, President, PFLAG Bellevue/Eastside, WA

Both engagement campaigns generated high levels of participation and a sense of trust with Kimco’s community members. Moving forward, Kimco will continue supporting local communities by organizing programs that support the diversity, equity, inclusion, and overall wellness of its community.

Kimco Realty Corporation, an S&P 500 organization, is North America’s largest publicly traded owner and operator of open-air, grocery-anchored shopping centers and mixed-used assets. Kimco’s portfolio is nationwide with assets primarily located in the first-ring suburbs of major metropolitan markets.

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