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.
About 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.
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 eight years (2015-2022). For more information, please
visit www.Macerich.com.
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SOURCE Macerich Company