Retail REIT Again Recognized for Industry-Leading Commitment to Performance and ESG Practices
SANTA MONICA, Calif., Oct. 10, 2023 (GLOBE NEWSWIRE) — Macerich (NYSE: MAC), one of the nation’s leading owners, operators and developers of high-quality retail and mixed-use properties in top markets, has earned the #1 ranking among all U.S. retail and top 10 in retail worldwide in the 2023 GRESB Real Estate Assessment.
A Media Snippet accompanying this announcement is available by clicking on this link.
This year marks the ninth straight year that Macerich has ranked #1 in the U.S. Retail: Retail Centers sector. Macerich also earned the prestigious GRESB Green Star rating, based on absolute performance, as well as an “A” score in the GRESB Public Disclosure Assessment, measuring a company’s stakeholder engagement and communication of its environmental, social and governance (ESG) efforts.
“Macerich is deeply appreciative of GRESB’s recognition of our achievements in ESG. We are particularly excited to have earned #1 U.S. and top 10 worldwide rankings for retail,” said Olivia Bartel Leigh, Executive Vice President, Portfolio Operations and People, Macerich. “We aim to continue to set the bar for sustainability in our industry, and we are committed to sharing our process and performance while maintaining focus on our customers, communities, shareholders and industry peers.”
GRESB assesses and benchmarks the ESG performance of assets worldwide, providing clarity and insights to financial markets on complex sustainability topics. The objective standards enable companies to measure their ESG journey and accomplishments against their peers. In 2022, over 1,820 property companies, REITs, funds and developers with USD 6.9 trillion in assets participated, covering 150,000+ assets across 74 countries.
“We view GRESB as a strong barometer for assessing our progress to achieving carbon neutrality by 2030,” said Ryan Knudson, Vice President, Corporate Responsibility and Sustainability, Macerich. “At Macerich, every employee across all disciplines and properties is focused on looking for opportunities and overcoming challenges, all while collaborating together to advance our Company’s ESG initiatives.”
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, 2022.
GRESB is the global ESG benchmark for real estate and infrastructure. We synthesize data and provide actionable insights to our members, partners, and investors. Our engagement tools and reporting solutions aid over 170 institutional investors and more than 2,000 fund managers, companies and asset operators to make informed decisions based on Environmental, Social and Governance (ESG) data. For more information, visit GRESB.com.
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. Macerich is firmly dedicated to advancing environmental goals, social good and sound corporate governance. A recognized leader in sustainability, Macerich has achieved the #1 ranking from Global Real Estate Sustainability Benchmark (GRESB) 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.
Karen Maurer, Macerich, 602-708-6311, Website: http://www.macerich.com