M.D.C. Holdings, Inc. Releases First Environmental, Social and Governance (ESG) Report

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Apr 06, 2022, 17:01 ET

Publication highlights company's commitment to employees, subcontractors, homebuyers and the planet

DENVER, April 6, 2022 /PRNewswire/ -- M.D.C. Holdings, Inc. (NYSE: MDC), parent company to the Richmond American Homes companies, recently announced the release of its first Environmental, Social and Governance (ESG) Report. The publication highlights the company's environmental initiatives, social practices and corporate governance, and concludes with a performance and impact analysis that will serve as a baseline for future progress.

Environmental Initiatives

M.D.C. Holdings, Inc.’s Environmental, Social and Governance (ESG) Report

The Richmond American companies bring cost-effective, environmentally friendly homes to customers by working to create efficiencies and providing common features, materials and product dimensions across plans when feasible to minimize waste.

Highlights:

Responsible land development practices, including geotechnical investigations, environmental site assessments, geophysical studies, wetland studies and other biological and cultural assessments, as applicable to the site
National average HERS® score improved from 65 in 2013 to to 51 in 2021, with a goal to achieve a score of 50 or less by 2025
14,802 ENERGY STAR®-qualified new homes built from 2000 through June 2021
Closed on 5,682 homes with solar panels installed through June 2021, and solar program is expanding

Social Practices

The Richmond American companies prioritize the health and welfare of employees, subcontractors and homebuyers. This is achieved by cultivating a positive and inclusive company culture, as well as establishing policies that protect employees and subcontractors. In recent years, this included measures to help limit the spread of COVID-19.

Highlights:

MDC/Richmond American Homes Foundation, funded by M.D.C. Holdings, Inc., has made more than $20 million in charitable donations
Employee volunteering and charitable match program
Competitive benefits promoting health, wellness and long-term financial stability of employees
Company-wide training and policies that set the standard for creating a positive company culture that's safe, ethical and inclusive

Corporate Governance

Strong company leadership and an engaged board dedicated to ESG are propelling the Richmond American companies forward on sustainability initiatives. A well-established Corporate Code of Conduct and closely governed company policies set the foundation for meeting environmental and social goals in the future.

Highlights:

Increasingly diverse corporate management with an average of 15 years of experience at the company as of February 2022
Expansion of positive impacts in the communities in which the Richmond American companies operate by providing funding to the MDC/Richmond American Homes Foundation
Developed an ESG policy to outline approach to ESG matters and guide business practices

"As we look to the future, we will leverage the core principles that led to our past success, while welcoming new perspectives that allow our organization to meet new challenges. If there is anything the COVID-19 pandemic has taught us, it is that life on our planet is fragile. We will continue to work toward sustainability so we can leave a legacy for the next generation," said Larry A. Mizel, Executive Chairman of the Board of Directors, M.D.C. Holdings, Inc.

For more information on M.D.C. Holdings, Inc.'s ESG initiatives, view the full report at ir.richmondamerican.com.

About M.D.C. Holdings, Inc.

Operating under the name Richmond American Homes, MDC's homebuilding subsidiaries have built more than 220,000 homes since 1977. Among the nation's largest homebuilders, MDC's subsidiary companies have operations in Arizona, California, Colorado, Florida, Idaho, Maryland, Nevada, New Mexico, Oregon, Pennsylvania, Tennessee, Texas, Utah, Virginia and Washington. Mortgage lending, plus insurance and title services are offered by the following MDC subsidiaries, respectively: HomeAmerican Mortgage Corporation, American Home Insurance Agency, Inc. and American Home Title and Escrow Company. M.D.C. Holdings, Inc. is traded on the New York Stock Exchange under the symbol "MDC." For more information, visit MDCHoldings.com.