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.
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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
