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:
Environmental
- 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.
Social
- 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.
Governance
- 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.
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 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.
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SOURCE Macerich Company