Macerich Releases 2023 Corporate Responsibility Report

Rhea-AI Summary

Macerich (NYSE: MAC), a leading retail real estate company, has released its 2023 Corporate Responsibility Report, marking 15 years of industry-leading sustainability strategy. The report, themed 'Together for Tomorrow', highlights Macerich's environmental, social, and governance efforts. Key achievements include:

- 34% of portfolio energy consumption from clean electricity
- #23 on EPA Green Power Partnership On-Site Generation list for solar generation
- #1 ranking in Retail, Americas/Rated A for Disclosure in 2023 GRESB Real Estate Assessment
- 2,300+ community events hosted at Macerich properties
- 433 organizations supported through volunteerism and giving

Macerich has set new ambitious targets, including achieving full net-zero emissions, including supply chain, by 2040. The company remains on track to achieve carbon neutrality by 2030.

Positive

• 34% of portfolio energy consumption derived from clean electricity
• Ranked #23 on EPA Green Power Partnership On-Site Generation list for solar generation
• #1 ranking in Retail, Americas/Rated A for Disclosure in 2023 GRESB Real Estate Assessment
• On track to achieve carbon neutrality by 2030
• New ambitious target to achieve full net-zero emissions, including supply chain, by 2040

Negative

• None.

Report marks 15 years of industry-leading sustainability strategy by leading retail real estate company

SANTA MONICA, Calif., Aug. 15, 2024 (GLOBE NEWSWIRE) -- Macerich (NYSE: MAC), one of the nation's leading owners, operators and developers of major retail properties in top markets, today released its 2023 Corporate Responsibility Report, with data for the period ending December 31, 2023.

This year’s “Together for Tomorrow” theme emphasizes the company’s environmental sustainability, social and governance efforts in service of its mission of owning and operating thriving retail centers that bring communities together and create long-term value for shareholders, partners and customers.

“Our ‘Together for Tomorrow’ approach to corporate responsibility, highlighted in this year’s report, encompasses not only our environmental leadership in our industry, but our laser focus on delivering material social and financial outcomes,” said Olivia Bartel Leigh, Macerich Executive Vice President, Portfolio Operations and People. “We will continue to prioritize sustainability efforts that demonstrate our stewardship of both natural resources and financial resources, as well as social initiatives that enhance the communities Macerich serves.”

This year’s report unveils new, ambitious targets that redefine Macerich’s environmental goals and exceed the company’s initial commitment to achieve carbon neutrality by 2030. On track for that goal, Macerich has unveiled its second-step goal: to achieve full net-zero emissions, including in its supply chain, by 2040.

Highlights of Macerich’s 2023 corporate responsibility engagement include:

• 34% percent of the portfolio’s energy consumption derived from clean electricity
• #23 on the EPA Green Power Partnership On-Site Generation list for solar generation
• #1 ranking in Retail, Americas/Rated A for Disclosure in the 2023 GRESB Real Estate Assessment (ninth straight year Macerich has ranked #1 in the U.S. Retail: Retail Centers sector)
• 2,300+ community events hosted at Macerich properties
• 433 unique organizations supported through volunteerism and giving
• Among America’s Most Responsible Companies as ranked by Newsweek

To learn more about Macerich’s leadership in sustainability, please review the full Macerich Corporate Responsibility Report, with data for the period ending December 31, 2023.

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 44 million square feet of real estate consisting primarily of interests in 41 retail 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 Global Real Estate Sustainability Benchmark (GRESB) ranking for the North American retail sector for nine consecutive years (2015-2023). 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
MEDIA CONTACT: Madison Chugden, Macerich, 985-789-3793, Website: http://www.macerich.com

A photo accompanying this announcement is available at https://www.globenewswire.com/NewsRoom/AttachmentNg/5f0ea290-cf7a-4d20-bfd7-15531bdd6df9

FAQ

What are Macerich's (MAC) new sustainability goals announced in the 2023 Corporate Responsibility Report?

Macerich (MAC) announced new ambitious targets in its 2023 Corporate Responsibility Report, including achieving full net-zero emissions, including in its supply chain, by 2040. The company remains on track to achieve its initial goal of carbon neutrality by 2030.

How much of Macerich's (MAC) energy consumption came from clean electricity in 2023?

According to Macerich's (MAC) 2023 Corporate Responsibility Report, 34% of the company's portfolio energy consumption was derived from clean electricity.

What ranking did Macerich (MAC) achieve in the 2023 GRESB Real Estate Assessment?

Macerich (MAC) achieved a #1 ranking in Retail, Americas and was rated A for Disclosure in the 2023 GRESB Real Estate Assessment. This marks the ninth straight year Macerich has ranked #1 in the U.S. Retail: Retail Centers sector.

How many community events did Macerich (MAC) host at its properties in 2023?

According to the 2023 Corporate Responsibility Report, Macerich (MAC) hosted over 2,300 community events at its properties.