For 7th time, Macerich honored for environmental performance, industry leadership
SANTA MONICA, Calif., Dec. 15, 2022 /PRNewswire/ -- Macerich (NYSE: MAC), one of the nation's leading owners, operators and developers of one-of-a-kind retail and mixed-use properties in top markets, has been recognized for its leadership in corporate transparency and performance on climate change by global environmental nonprofit CDP, securing a place on CDP's annual A List for the seventh year.
The environmental, social and governance (ESG) recognition is based on data reported through CDP's 2022 Climate Change questionnaire. Out of more than 15,000 companies scored, Macerich is one of a small number of companies that achieved a grade of A.
"We are honored to again receive the important distinction of appearing on the A List," said Tom O'Hern, Chief Executive Officer of Macerich. "This recognition underscores our sharp focus on double materiality, the intersection of financial responsibility and good stewardship of natural resources. Assessing both inward and outward impacts, and how they compound the creation of economic value, is a key ESG metric Macerich has long embraced."
CDP's annual environmental disclosure and scoring process is widely recognized as the gold standard of corporate environmental transparency. CDP uses a detailed and independent methodology to assess companies, allocating a score of A to D- based on the comprehensiveness of disclosure, awareness and management of environmental risks and demonstration of best practices associated with environmental leadership, such as setting ambitious and meaningful targets.
"2030 is an important target to reduce global carbon usage and mitigate climate warming, and we are appreciative that Macerich continues to be recognized for our progress toward our goal of becoming the first in our industry to achieve carbon neutrality by 2030," said Olivia Bartel Leigh, Executive Vice President, Portfolio Operations and People, Macerich. "We aim to set the bar for sustainability in our industry and operate properties with purpose that 'walk the walk' in serving our guests, investors, industry partners, employees, the communities where we do business and our planet."
Additionally, Macerich has been widely recognized for its commitment and performance in creating a more sustainable future. In addition to its seven years on the CDP A List, the company has achieved numerous other recognitions, including receiving a #1 GRESB ranking for the North American retail sector for eight years (2015-2022) and being named among the EPA Green Power Partner Top 30 for on-site generation (2014-2021).
Dexter Galvin, Global Director of Corporations and Supply Chains at CDP, congratulated the A List companies. "Environmental transparency is the first vital step towards a net-zero and nature-positive future. In a year of ever-increasing environmental concerns around the world — from extreme weather to unprecedented losses to nature — the need for transformational, urgent and collaborative change is more critical than ever," he said.
Macerich shares its ESG activities and progress through its Corporate Responsibility Report, Annual Report, Proxy Statement and Form 10-K, in addition to other internal and external communications. The annual Corporate Responsibility Report conveys details of Macerich's comprehensive ESG focus, including plans to achieve carbon neutrality by 2030 — decades ahead of the Paris Climate Agreement. The most recent report includes data for the period ending December 31, 2021.
The complete list of companies that made this year's CDP A List is available here: https://www.cdp.net/en/companies/companies-scores
Macerich is a fully integrated, self-managed and self-administered real estate investment trust (REIT). As a leading owner, operator and developer of high-quality retail real estate in densely populated and attractive U.S. markets, Macerich's portfolio is concentrated in California, the Pacific Northwest, Phoenix/Scottsdale, and the Metro New York to Washington, D.C. corridor. Developing and managing properties that serve as community cornerstones, Macerich currently owns 48 million square feet of real estate consisting primarily of interests in 44 regional town centers. Macerich is firmly dedicated to advancing environmental goals, social good and sound corporate governance. A recognized leader in sustainability, Macerich has achieved a #1 GRESB ranking for the North American retail sector for eight years (2015-2022). For more information, please visit www.Macerich.com.
Macerich uses, and intends to continue to use, its Investor Relations website, which can be found at investing.macerich.com, as a means of disclosing material nonpublic information and for complying with its disclosure obligations under Regulation FD. Additional information about Macerich can be found through social media platforms such as LinkedIn. Reconciliations of non-GAAP financial measures, including NOI and FFO, to the most directly comparable GAAP measures are included in the earnings release and supplemental filed on Form 8-K with the SEC, which are posted on the Investor Relations website at investing.macerich.com.
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SOURCE Macerich Company
Karen Maurer, Macerich, 602-708-6311, Website: http://www.macerich.com