Macerich Contributes $50,000 to Reforestation and Urban Forestry for Earth Month

Macerich (NYSE: MAC) has launched the 'Make a Pledge.

Rhea-AI Summary

Macerich (NYSE: MAC) has launched the 'Make a Pledge. Plant a Tree.' initiative, partnering with One Tree Planted to invest $50,000 in U.S. reforestation and urban forestry for Earth Month. This program encourages shoppers to pledge to use reusable bags instead of single-use plastic or paper bags, significantly reducing landfill waste. The initiative aims to promote sustainable shopping practices and environmental responsibility among consumers. Each pledge contributes towards planting trees across U.S. forests and cities. Additionally, Macerich is engaging employees in local community cleanup events, rewarding them for volunteer hours with tree planting. The company is committed to achieving carbon neutrality by 2030, currently sourcing one-third of its energy from renewable resources.

Positive

• Macerich invests $50,000 in reforestation and urban forestry.
• Initiative promotes sustainable practices by encouraging reusable bag use.
• Engagement of employees in community cleanup efforts enhances corporate social responsibility.
• Commitment to achieve carbon neutrality by 2030 reinforces sustainability goals.

Negative

• None.

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'Make a Pledge. Plant a Tree.' campaign urges shoppers to switch to reusable bags;
employees pitch in with community cleanup days

SANTA MONICA, Calif., April 24, 2023 /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, is partnering with One Tree Planted to contribute $50,000 to reforestation and urban forestry for Earth Month through its "Make a Pledge. Plant a Tree." program for shoppers.

Through the initiative, Macerich has committed to supporting U.S. reforestation and urban forestry projects. Shoppers can join the Earth Month celebration when they pledge to reduce landfill trash by always using reusable bags whenever they shop. Every pledge shoppers make will go toward planting trees in forests and cities around the U.S.

The goal of the Macerich initiative is for shoppers to promise to always opt for a reusable bag instead of single-use paper or plastic bags. Each reusable bag can eliminate hundreds of single-use plastic or paper bags. EarthDay.org estimates that one person opting for a reusable bag eliminates an average of 307 single-use bags annually. Shoppers can make their pledge by scanning a QR code at Macerich centers, signing a pledge wall at a center or commenting on specific Macerich social media posts with their pledge.

"In all we do, Macerich considers our guests, investors, industry partners, employees, the communities where we do business and our planet. This Earth Month, we are excited to support the vision of One Tree Planted to make it simple for anyone to help the environment by planting trees," said Olivia Bartel Leigh, Executive Vice President, Portfolio Operations and People, Macerich. "Earth Month is the perfect time to team up with our shoppers to continue our progress toward our goal of becoming the first in our industry to achieve carbon neutrality by 2030."

Macerich will also promote cleanup events on or around Earth Day, April 22, in support of EarthDay.org's Great Global Cleanup Project to help protect natural resources in local communities. Macerich employees will earn one tree planted for each volunteer hour they contribute to local cleanup events. All Macerich employees have access to 24 paid volunteer hours per year.

"We appreciate the support of Macerich and all the great work we will be able to do as a result of this partnership. Through their Make a Pledge Plant a Tree program, we will be able to plant more trees in cities and forests across the U.S., creating a greener, healthier planet," said Ashley Lamontagne, Forest Campaign Manager, One Tree Planted.

As an industry leader in the journey toward sustainability, Macerich continues to make significant strides toward its goal of achieving carbon neutrality by 2030. Currently, the company receives one-third of its energy portfolio-wide from renewable resources.

Macerich shares its environmental, sustainability and governance (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.

About One Tree Planted
One Tree Planted is a 501(c)(3) nonprofit on a mission to make it simple for anyone to help the environment by planting trees. Their projects span the globe and are done in partnership with local communities and knowledgeable experts to create an impact for nature, people, and wildlife. Reforestation helps to rebuild forests after fires and floods, provide jobs for social impact, and restore biodiversity. Many projects have overlapping objectives, creating a combination of benefits that contribute to the UN's Sustainable Development Goals. Learn more at onetreeplanted.org.

About Macerich
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 47 million square feet of real estate consisting primarily of interests in 44 regional town centers, many of which have mixed use. 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.

MAC-C
SOURCE: Macerich

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SOURCE Macerich Company

FAQ

AI-generated questions and answers. How Rhea-AI works. Not financial advice.

What is the 'Make a Pledge. Plant a Tree.' program launched by Macerich?

The program encourages shoppers to pledge to use reusable bags and contributes $50,000 to U.S. reforestation efforts.

How much is Macerich contributing for Earth Month?

Macerich is contributing $50,000 to support reforestation and urban forestry projects.

What is the goal of Macerich's sustainability initiative?

The goal is to achieve carbon neutrality by 2030.

How can shoppers participate in the Macerich tree planting initiative?

Shoppers can participate by pledging to use reusable bags, either by scanning a QR code at Macerich centers or commenting on social media.

What rewards do Macerich employees receive for participating in cleanup events?

Employees earn one tree planted for every volunteer hour contributed to community cleanup events.