Kite Realty Group Trust

GRESB Real Estate Assessment 2023

DATE: 6 Oct 2023 1:09:30pm Fri UTC

SUBMITTED: 1 Jul 2023 5:24:08am Sat UTC

Table of Contents

ASPECT CHECKLIST

Aspect Checklist . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 3

ENTITY AND REPORTING CHARACTERISTICS

Entity Characteristics . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 4 Reporting Characteristics . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 4

LEADERSHIP

ESG Commitments and Objectives . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 6 ESG Decision Making . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 7

POLICIES

ESG Policies . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 12

REPORTING

ESG Disclosure . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 16 ESG Incident Monitoring . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 17

RISK MANAGEMENT

Risk Management . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 19

Risk Assessments . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 20

Climate-related Risk Management . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 21

STAKEHOLDER ENGAGEMENT

Employees . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 27 Suppliers. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 30

REPORTING CHARACTERISTICS

Reporting Characteristics . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 33

RISK ASSESSMENT

Risk Assessments . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 34 Efficiency Measures. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 35

TARGETS

Targets. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 37

TENANTS AND COMMUNITY

Tenants/Occupiers . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 38 Community . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 42

ENERGY

Energy Consumption . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 43

GHG

GHG Emissions . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 58

WATER

Water Use . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 68

WASTE

Waste Management . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 80

DATA MONITORING AND REVIEW

Review, verification and assurance of ESG data . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 88

BUILDING CERTIFICATIONS

Building Certifications. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 90

ASPECT CHECKLIST

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Entity & Reporting Characteristics - Entity Characteristics

ENTITY AND REPORTING CHARACTERISTICS

Entity Characteristics

EC2

Nature of ownership

  • Public (listed on a Stock Exchange) entity Specify ISIN:

US49803T3005

Legal status:

  • Property company
    • Real Estate Investment Trust (REIT)
  • Private (non-listed) entity
  • Government entity

Legal Entity Identifier (optional)

EC3

Entity commencement date

Year of commencement (listed) or Year of establishment (non-listed) 2004

EC4

Reporting year

  • Calendar year Fiscal year

ENTITY AND REPORTING CHARACTERISTICS

Reporting Characteristics

RC1

Reporting currency

Values are reported in:

USD United States Dollar

RC2

Economic size

What was the gross asset value (GAV) of the portfolio at the end of the reporting year in millions?

7,497.8

RC3

Floor area metrics

Metrics are reported in:

  • m2
    sq. ft.

RC4

Property type and Geography

Portfolio predominant location (*): United States of America

Portfolio predominant property type (**): Retail: Retail Centers: Strip Mall

Entity & Reporting Characteristics - Entity Characteristics

RC5

Nature of entity's business

The entity's core business:

  • Management of standing investments only (continue with Management and Performance Components)
  • Management of standing investments and development of new construction and major renovation projects (continue with Management, Performance, and Development Components)
  • Development of new construction and major renovation projects (continue with Management and Development Components)

Entity & Reporting Characteristics - Entity Characteristics

LEADERSHIP

ESG Commitments and Objectives

LE1

ESG leadership commitments

Has the entity made a public commitment to ESG leadership standards and/or principles?

  • Yes

Select all commitments included (multiple answers possible)

  • General ESG commitments
    • Global Investor Coalition on Climate Change (including AIGCC, Ceres, IGCC, IIGCC)
    • International Labour Organization (ILO) Standards
    • Montreal Pledge
    • OECD - Guidelines for multinational enterprises
    • PRI signatory
    • RE 100
    • Science Based Targets initiative
  • Task Force on Climate-related Financial Disclosures (TCFD) UN Environment Programme Finance Initiative
    UN Global Compact
  • UN Sustainable Development Goals
  • Other

Provide applicable hyperlink

Provide hyperlink

https://s25.q4cdn.com/292140124/files/doc_downloads/2023/KRG-2023-Proxy-Statement.pdfhttps://s25.q4cdn.com/292140124/files/doc_downloads/2023/KRG-2023-Proxy-Statement.pdfIndicate where the relevant information can be found

Page 38 of the Proxy lists our Company's commitment to align with TCFD in the 2022 CR Report.

Provide hyperlink https://kiterealty.com/company/corporate-responsibility

https://kiterealty.com/company/corporate-responsibility Indicate where the relevant information can be found

Reference company's 2022 Corporate Responsiblity Report

    • Net Zero commitments
  • No

LE2

ESG objectives

Does the entity have ESG objectives?

  • Yes

The objectives relate to (multiple answers possible)

  • General objectives
    • General sustainability
    • Environment
    • Social
    • Governance
  • Issue-specificobjectives
    • Diversity, Equity, and Inclusion (DEI)
    • Health and well-being

The objectives are

  • Fully integrated into the overall business strategy Partially integrated into the overall business strategy Not integrated into the overall business strategy
  • Max. score 0
  • Max. score 1

Entity & Reporting Characteristics - Entity Characteristics

The objectives are

  • Publicly available

Provide applicable hyperlink

Provide hyperlink https://kiterealty.com/company/corporate-responsibility

https://kiterealty.com/company/corporate-responsibility

Indicate where the relevant information can be found

The entity's ESG Policy Document, 2021 & 2022 Corporate Responsibility Report, 2020 & 2021 ESG Brochure, 2020, 2021 & 2022 GRESB Assessment Response, Vendor Code of Conduct, Governance Guidelines, Conduct and Ethics Policy and Board Committee Charters are included as linked documents to the bottom of the page. Together, these policies and informational publications form the basis of the entity's ESG program.

  • Not publicly available

Communicate the objectives and explain how they are integrated into the overall business strategy (maximum 250 words)

Kite Realty's ESG Policy and its Corporate Responsibility Report outline the company's long-term focus on a commitment to its employees through training, competitive benefits, fair compensation and opportunities for advancement. It outlines the investments Kite makes in its properties to revitalize surrounding communities, provide access to food and services for local residents and promote small business. It also outlines how Kite implements technologies that improve property-level efficiencies and reduce Kite's environmental impact. Finally, it outlines Kite's ethical treatment of its Tenants, Vendors and Shareholders.

  • No

LEADERSHIP

ESG Decision Making

LE3

◎ Max. score 2

Individual responsible for ESG, climate-related, and/or DEI objectives

Does the entity have one or more persons responsible for implementing ESG, climate-related, and/or DEI objectives?

  • Yes

ESG

Select the persons responsible (multiple answers possible)

  • Dedicated employee(s) for whom ESG is the core responsibility Provide the details for the most senior of these employees Name
    Robert McGuinness Job title
    Director - Property Management & ESG
  • Employee(s) for whom ESG is among their responsibilities Provide the details for the most senior of these employees Name
    John A. Kite Job title Chairman & CEO
  • External consultants/manager

Name of the main contact

Scott Lemoine

Job title

Lead ESG Advisor

  • Investment partners (co-investors/JV partners)

Entity & Reporting Characteristics - Entity Characteristics

  • No

Climate-related risks and opportunities

Select the persons responsible (multiple answers possible)

  • Dedicated employee(s) for whom climate-related issues are core responsibilities Provide the details for the most senior of these employees
    Name
    Robert McGuinness Job title
    Director - Property Management & ESG
  • Employee(s) for whom climate-related issues are among their responsibilities Provide the details for the most senior of these employees
    Name
    John A. Kite Job title Chairman & CEO
  • External consultants/manager

Name of the main contact

Scott Lemoine

Job title

Lead ESG Advisor

  • Investment partners (co-investors/JV partners)

Diversity, Equity, and Inclusion (DEI)

Select the persons responsible (multiple answers possible)

  • Dedicated employee for whom DEI is the core responsibility Employee for whom DEI is among their responsibilities

Provide the details for the most senior of these employees:

Name

Mellissa Boggs

Job title

EVP, Emoloyee Experience

  • External consultant/manager Name of the main contact

Scott Lemoine

Job title

Lead ESG Advisor

  • Investment partners (co-investors/JV partners)

Entity & Reporting Characteristics - Entity Characteristics

LE4

◎ Max. score 1

ESG taskforce/committee

Does the entity have an ESG taskforce or committee?

  • Yes

Select the members of this taskforce or committee (multiple answers possible)

  • Board of Directors
  • C-suitelevel staff/Senior management Investment Committee
    Fund/portfolio managers
  • Asset managers
  • ESG portfolio manager Investment analysts
    Dedicated staff on ESG issues
  • External managers or service providers Investor relations
    Other
    Other selected. Please describe

Employee Experience; Marketing & Communications; Accounting

  • No

LE5

◎ Max. score 1

ESG, climate-related and/or DEI senior decision maker

Does the entity have a senior decision-maker accountable for ESG, climate-related, and/or DEI issues?

  • Yes

ESG

Provide the details for the most senior decision-maker on ESG issues

Name

John A. Kite

Job title

Chairman & CEO

The individual's most senior role is as part of

  • Board of Directors
  • C-suitelevel staff/Senior management
  • Investment Committee
  • Fund/portfolio managers
  • Other

Entity & Reporting Characteristics - Entity Characteristics

  • Climate-relatedrisks and opportunities

Provide the details for the most senior decision-maker on climate-related issues

Name

John A. Kite

Job title

Chairman & CEO

The individual's most senior role is as part of

  • Board of Directors
    • C-suitelevel staff/Senior management
    • Investment Committee
    • Fund/portfolio managers
    • Other
  • Diversity, Equity, and Inclusion (DEI)

Provide the details for the most senior decision-maker on DEI:

Name

John A. Kite

Job title

Chairman & CEO

The individual's most senior role is as part of:

  • Board of directors
  • C-suitelevel staff/Senior management
  • Fund/portfolio managers
  • Investment committee
  • Other

Describe the process of informing the most senior decision-maker on the ESG, climate-related, and DEI performance of the entity (maximum 250 words)

The ESG Task Force, formed in November 2019, meets on a regular basis to discuss progress in the ESG-related initiatives being carried out across the organization. Agendas are prepared in advance of the meetings. PowerPoint presentations are also used to communicate program updates and to outline decisions that need to be made.

  • No

LE6

◎ Max. score 2

Personnel ESG performance targets

Does the entity include ESG factors in the annual performance targets of personnel?

  • Yes

Does performance on these targets have predetermined consequences?

  • Yes
    • Financial consequences

Select the personnel to whom these factors apply (multiple answers possible):

  • Board of Directors
  • C-suitelevel staff/Senior management
  • Investment Committee
  • Fund/portfolio managers
  • Asset managers
  • ESG portfolio manager
  • Investment analysts
  • Dedicated staff on ESG issues
  • External managers or service providers
  • Investor relations
  • Other

Other selected. Please describe

Attachments

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  • Permalink

Disclaimer

Kite Realty Group Trust published this content on 18 June 2024 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 18 June 2024 16:01:00 UTC.