#1-Ranked Macerich Celebrates Growing GRESB Participation, Raising the Bar for Sustainability Performance in Real Estate
Macerich ranks #1 among peers for 8th year, earns ‘A’ score for disclosure
SANTA MONICA, Calif., Oct. 18, 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, has earned the #1 ranking among U.S. retail centers in the 2022 GRESB Real Estate Assessment.
This marks the eighth year that Macerich has achieved the #1 ranking in its category, Retail: Retail Centers. Macerich also earned an “A” score for disclosure, which measures the level of stakeholder engagement and communication of a company’s environmental, social and governance (ESG) efforts.
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. This pool continued to grow in 2022, raising the bar for outstanding performance in addressing environmental and sustainability issues.
“As the pool grows and GRESB requirements become more stringent, setting the bar for sustainability in our industry for eight years is an achievement that comes from the tireless work of our sustainability and property teams across our portfolio,” said Olivia Bartel Leigh, Executive Vice President, Portfolio Operations and People, Macerich. “As well, we are extremely proud that GRESB has recognized our transparency about our ESG initiatives with an ‘A’ score for disclosure due to the significant amount of data Macerich provides publicly. Our work of engaging sustainability in everything we do makes a difference for our investors, employees, industry partners and the communities where we do business.”
In addition to its #1 ranking in the U.S. Retail: Retail Centers peer group and “A” score for disclosure, Macerich also saw increases in its rankings compared to all retail in the Americas (#4 of 39 listed properties) and worldwide retail (#15 of 59 listed properties).
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, 2021.
The GRESB Real Estate Assessment
The GRESB Real Estate Assessment is the investor-driven global ESG benchmark and reporting framework for listed property companies, private property funds, developers and investors that invest directly in real estate. The Assessments are guided by what investors and the industry consider to be material issues in the sustainability performance of asset investments. The methodology is consistent across different regions, investment vehicles and property types and aligns with international reporting frameworks. The GRESB ESG Benchmark grew this year to cover more than USD 8.6 trillion of assets under management, up from USD 6.4 trillion the year before.
The data is self-reported by Assessment participants and subjected to a multi-layer validation process, after which it is scored and benchmarked. The result is high-quality data that investors and participants can use in their investment, engagement and decision-making processes.
For real estate participants, the 2022 benchmark report includes a new portfolio decarbonization section, which presents the portfolio’s alignment with pathways developed by CRREM. This analysis is based on the most current CRREM pathways (September 2022), which are expected to be updated in early 2023.
“With more fund managers and asset owners reporting to GRESB than ever before, we are proud to see the global real assets industry deepen its commitment to ESG transparency and pave the way for a more sustainable future,” said Sebastien Roussotte, CEO of GRESB.
GRESB is a mission-driven and industry-led organization providing standardized and validated Environmental, Social, and Governance (ESG) data to financial markets. Established in 2009, GRESB has become the leading ESG benchmark for real estate and infrastructure investments across the world, used by more than 170 institutional and financial investors to inform decision-making. 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 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 eight years (2015-2022). For more information, please visit http://www.Macerich.com.
Karen Maurer, Macerich, 602-708-6311, Website: http://www.macerich.com