MACERICH RELEASES 2021 CORPORATE RESPONSIBILITY REPORT
Report highlights progress of company's industry-leading sustainability strategy, reinforces commitment to positive action
SANTA MONICA, Calif., June 9, 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, today released its 2021 Corporate Responsibility Report.
The report highlights the Company's ongoing, 23-year commitment to meeting the needs of all stakeholders by developing properties with purpose and championing belonging in all areas of operations since Macerich launched its sustainability efforts in 1999. Additionally, the 2021 report focuses on the Company's return to normalized operations after the initial pandemic response of 2020, and an increased focus on environmental, social and governance (ESG) commitments.
"At Macerich, everything we do centers on our belief that our Regional Town Centers are properties with purpose — physical places at the heart of their communities where people come together to shop, eat, play and find connection," said Tom O'Hern, CEO, Macerich. "We are deeply committed to protecting natural resources and ensuring our spaces are welcoming gathering places for everyone."
Highlights from Macerich's 2021 Corporate Responsibility Report include:
- Macerich has achieved or is on track to achieve its 2030 carbon neutrality goal, waste reduction and water conservation goals. Significant results for 2021 include a 9% reduction in location-based greenhouse gas emissions since 2019, 35% solid waste reduction, and 20% reduction in water consumption since 2015.
- An industry leader in sustainability, Macerich received validation of its Science Based Targets initiative (SBTi) goals. This milestone affirms that the Company is on track to play its part in meeting Paris Agreement goals of limiting global warming to 1.5°C above pre-industrial levels.
- Macerich maintained a steady position as one of 200 companies out of 13,000 annual applicants on the CDP A List, which showcases companies leading on environmental transparency and action based on annual impact disclosures. The Company also received the #1 ranking in the GRESB Americas retail sector for the seventh consecutive year.
- Responding to calls for support in its communities, Macerich provided emergency response support for the Marshall Fire in Colorado, partnered with public and private organizations in New York City to provide thousands of turkeys for families in need, and donated hundreds of laptops to schools throughout the country.
- Macerich was the largest employer of the inaugural class of ICSC Foundation's Launch Academy for college student interns to explore career opportunities in retail real estate management and leasing.
- Macerich properties hosted more than 1,800 events supporting local causes and communities, such as blood drives, farmers markets, COVID testing sites, food drives, cultural celebrations and more.
- Macerich invested in and developed the employee community through mentorship programs, professional development opportunities, manager training and DEIB-focused employee training.
- In 2021, the Company added ESG oversight responsibilities to the charter of the Nominating and Governance Committee of the Board of Directors, which affirms ESG objectives and conducts quarterly reviews.
- Macerich added ESG-focused performance metrics to the executive compensation plan.
- The Company affirmed its ethical business practices with a commitment to transparency, responsiveness and principled action by providing clear written policies and ongoing training to shape expectations and outline behaviors for everyone who is part of the employee community.
- To learn more about Macerich's leadership in sustainability, access the Macerich Corporate Responsibility/ESG Report, with data for the period ending December 31, 2021.
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 seven straight years (2015-2021). For more information, please visit www.Macerich.com.
SOURCE Macerich Company
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