Kite Realty Group Publishes Annual Corporate Responsibility Report

Rhea-AI Summary

Kite Realty Group (NYSE: KRG), a premier REIT specializing in open-air shopping centers, has released its annual Corporate Responsibility Report highlighting significant environmental achievements in 2024. The company reported a 13.7% year-over-year reduction in Scope 1 and 2 GHG emissions and a cumulative 31.5% reduction from 2019, progressing toward their 2030 goal of 46% reduction.

Notable sustainability achievements include an 11.5% reduction in energy usage, 7.1% decrease in water consumption, and the elimination of 3,993 metric tons of CO2e. KRG has planted over 50,000 trees through Project Green and increased IREM-certified properties to 99, representing 55% of their retail portfolio. The company also maintained its Gold Level Green Lease Leader status for the fifth consecutive year and dedicated 3,600 team member hours to volunteer programs.

Positive

• Achieved 13.7% reduction in GHG emissions year-over-year
• Reduced energy usage by 11.5% and water consumption by 7.1%
• Increased IREM certified property count to 99 properties (55% of portfolio)
• Maintained Gold Level Green Lease Leader status for 5th consecutive year
• Strong community engagement with 3,600 volunteer hours and 185 community events

Negative

• None.

INDIANAPOLIS, June 25, 2025 (GLOBE NEWSWIRE) -- Kite Realty Group (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 corporate responsibility practices and policies. The report also details progress, measurements, and case studies around the Company’s goals and related operations.

“KRG’s corporate responsibility initiatives reflect our inherent dedication to advancing sustainability across our operating platform,” said John A. Kite, Chairman and CEO. “Through efforts to enhance our portfolio’s long-term performance, we strive to enable our organization to serve as the most compelling link between retailers and consumers, delivering meaningful experiences and driving sustainable long-term value for all stakeholders.”

2024 Report highlights include:

• Reduced Scope 1 and 2 greenhouse gas (GHG) emissions by 13.7% on a year-over-year basis.
• Cumulatively reduced Scope 1 and 2 GHG emissions by 31.5% 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 energy usage by 11.5% on a year-over-year basis.
• Reduced water consumption by 7.1% on a year-over-year basis.
• Eliminated 3,993 metric tons of CO2e.
• Planted over 50,000 trees since the inception of KRG’s Project Green reforestation effort.
• Increased IREM certified property count to 99 properties, which represents 55% of the retail operating properties in the KRG portfolio.
• Achieved Gold Level Green Lease Leader recognition for the fifth consecutive year.
• Dedicated approximately 3,600 team member hours to KRG’s Volunteer Time Off program.
• Hosted 185 community events throughout the KRG portfolio.
  
  

For more information, please visit KRG’s Corporate Responsibility webpage to access the 2024 Corporate Responsibility Report.

About Kite Realty Group
Kite Realty Group (NYSE: KRG), a real estate investment trust (REIT), is a premier owner and operator 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 platform for both retailers and consumers. Publicly listed since 2004, KRG has over 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, 2025, the Company owned interests in 180 U.S. open-air shopping centers and mixed-use assets, comprising approximately 27.8 million square feet of gross leasable space. For more information, please visit kiterealty.com.

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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 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 from an economic slowdown or recession, disruption related to tariffs and other trade or sanction issues, rising interest rates, inflation, unemployment, or limited growth in consumer income or spending); 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 the Company’s tenants; the competitive environment in which the Company operates, including potential oversupplies of, or a 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 tenants’ 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 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 changes in consumer behavior due to public health crises 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 cyber attacks and the loss of confidential information and other business disruptions; risks associated with the use of artificial intelligence and related tools; other factors affecting the real estate industry generally; and other risks identified in reports the Company files with the Securities and Exchange Commission 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, 2024, 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 Trust
Tyler Henshaw
SVP, Capital Markets & Investor Relations
317.713.7780
thenshaw@kiterealty.com

FAQ

What environmental progress did Kite Realty Group (KRG) report in their 2024 Corporate Responsibility Report?

KRG reported a 13.7% reduction in GHG emissions, 11.5% reduction in energy usage, and 7.1% decrease in water consumption year-over-year. They've achieved a 31.5% reduction in GHG emissions since 2019.

How many properties does Kite Realty Group (KRG) own as of 2025?

As of March 31, 2025, KRG owned interests in 180 U.S. open-air shopping centers and mixed-use assets, comprising approximately 27.8 million square feet of gross leasable space.

What is KRG's progress toward their 2030 environmental goals?

KRG has achieved a 31.5% reduction in Scope 1 and 2 GHG emissions from their 2019 baseline, progressing toward their Science Based Target initiative-approved goal of a 46.0% decrease by 2030.

How many IREM certified properties does Kite Realty Group have?

KRG has 99 IREM certified properties, which represents 55% of their retail operating properties portfolio.