Kite Realty Group Trust Publishes Annual Corporate Responsibility Report
28 June 2024 - 6:15AM
Kite Realty Group Trust (NYSE: KRG) announced today the release of
its annual Corporate Responsibility Report, which provides a
comprehensive overview of the Company’s strategy and initiatives
regarding environmental, social, and governance (ESG) practices and
policies. The report also details progress, measurements, and case
studies around each of the Company’s goals and related initiatives.
“KRG’s corporate responsibility
initiatives demonstrate our ongoing commitment to drive sustainable
operations and deliver on our long-term goals and strategies,” said
John A. Kite, Chairman and CEO. “Our efforts enhance our
portfolio’s performance and enable our team to serve as the most
compelling, flexible, and effective link between retailers and
consumers, delivering meaningful experiences and long-term
value.”
2023 Report highlights
include:
- Reduced Scope 1 and 2 greenhouse
gas (GHG) emissions by 7.9% on a year-over-year basis
- Cumulatively reduced Scope 1 and 2
GHG emissions by 21.7% from the 2019 baseline year, demonstrating
substantial progress toward the Science Based Target
initiative-approved goal of a 46.0% decrease in Scope 1 and 2 GHG
emissions by 2030
- Reduced electricity usage by 7.8%
on a year-over-year basis
- Eliminated 2,532.2 metric tons of
CO2e
- Planted over 37,000 trees since the
inception of KRG’s Project Green reforestation effort
- Increased IREM certified property
count to 76 properties
- Achieved Gold Level Green Lease
Leader recognition for the fourth consecutive year
- Dedicated approximately 3,700 team
member hours to KRG’s Volunteer Time Off program
- Joined industry peers and the 988
Suicide and Crisis Lifeline in the “Signs of HOPE” campaign
- Hosted over 180 community events
throughout the KRG portfolio
- Attained 36% gender and ethnic
diversity representation on KRG’s Board of Trustees as of May 29,
2024
For more information, please visit KRG’s
Corporate Responsibility webpage to access the 2023 Corporate
Responsibility Report.
About Kite Realty Group
TrustKite Realty Group Trust (NYSE: KRG) is a real estate
investment trust (REIT) headquartered in Indianapolis, IN that is
one of the largest publicly traded owners and operators of open-air
shopping centers and mixed-use assets. The Company’s primarily
grocery-anchored portfolio is located in high-growth Sun Belt and
select strategic gateway markets. The combination of
necessity-based grocery-anchored neighborhood and community
centers, along with vibrant mixed-use assets makes the KRG
portfolio an ideal mix for both retailers and consumers. Publicly
listed since 2004, KRG has nearly 60 years of experience in
developing, constructing and operating real estate. Using
operational, investment, development, and redevelopment expertise,
KRG continuously optimizes its portfolio to maximize value and
return to shareholders. As of March 31, 2024, the Company owned
interests in 180 U.S. open-air shopping centers and mixed-use
assets, comprising approximately 28.1 million square feet of gross
leasable space. For more information, please visit
kiterealty.com.
Connect with
KRG: LinkedIn | Twitter | Instagram | Facebook
Safe Harbor
This release, together with other statements and
information publicly disseminated by us, contains certain
forward-looking statements within the meaning of Section 27A
of the Securities Act of 1933 (the “Securities Act”) and
Section 21E of the Securities Exchange Act of 1934. Such
statements are based on assumptions and expectations that may not
be realized and are inherently subject to risks, uncertainties and
other factors, many of which cannot be predicted with accuracy and
some of which might not even be anticipated. Future events and
actual results, performance, transactions or achievements,
financial or otherwise, may differ materially from the results,
performance, transactions or achievements, financial or otherwise,
expressed or implied by the forward-looking statements.
Risks, uncertainties and other factors that
might cause such differences, some of which could be material,
include but are not limited to: economic, business, banking, real
estate and other market conditions, particularly in connection with
low or negative growth in the U.S. economy as well as economic
uncertainty (including a potential economic slowdown or recession,
rising interest rates, inflation, unemployment, or limited growth
in consumer income or spending); our ability to satisfy or surpass
environmental, social, and governance goals set by the Company or
third-party constituencies on the anticipated timeline or at all;
financing risks, including the availability of, and costs
associated with, sources of liquidity; the Company’s ability to
refinance, or extend the maturity dates of, the Company’s
indebtedness; the level and volatility of interest rates; the
financial stability of tenants; the competitive environment in
which the Company operates, including potential oversupplies of and
reduction in demand for rental space; acquisition, disposition,
development and joint venture risks; property ownership and
management risks, including the relative illiquidity of real estate
investments, and expenses, vacancies or the inability to rent space
on favorable terms or at all; the Company’s ability to maintain the
Company’s status as a real estate investment trust for U.S. federal
income tax purposes; potential environmental and other liabilities;
impairment in the value of real estate property the Company owns;
the attractiveness of our properties to tenants, the actual and
perceived impact of e-commerce on the value of shopping center
assets and changing demographics and customer traffic patterns;
business continuity disruptions and a deterioration in our tenant’s
ability to operate in affected areas or delays in the supply of
products or services to us or our tenants from vendors that are
needed to operate efficiently, causing costs to rise sharply and
inventory to fall; risks related to our current geographical
concentration of the Company’s properties in the states of Texas,
Florida, and North Carolina and the metropolitan statistical areas
of New York, Atlanta, Seattle, Chicago, and Washington, D.C.; civil
unrest, acts of violence, terrorism or war, acts of God, climate
change, epidemics, pandemics, natural disasters and severe weather
conditions, including such events that may result in underinsured
or uninsured losses or other increased costs and expenses; changes
in laws and government regulations including governmental orders
affecting the use of the Company’s properties or the ability of its
tenants to operate, and the costs of complying with such changed
laws and government regulations; possible short-term or long-term
changes in consumer behavior due to COVID-19 and the fear of future
pandemics; our ability to satisfy environmental, social or
governance standards set by various constituencies; insurance costs
and coverage, especially in Florida and Texas coastal areas; risks
associated with cybersecurity attacks and the loss of confidential
information and other business disruptions; other factors affecting
the real estate industry generally; and other risks identified in
reports the Company files with the Securities and Exchange
Commission (“the SEC”) or in other documents that it publicly
disseminates, including, in particular, the section titled “Risk
Factors” in the Company’s Annual Report on Form 10-K for the fiscal
year ended December 31, 2023, and in the Company’s quarterly
reports on Form 10-Q. The Company undertakes no obligation to
publicly update or revise these forward-looking statements, whether
as a result of new information, future events or otherwise.
Contact Information: Kite Realty Group
TrustTyler HenshawSVP, Capital Markets & Investor
Relations317.713.7780thenshaw@kiterealty.com
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