GRESB Real Estate Assessment Ranks Macerich #1, U.S. Retail, for 10th Consecutive Year
SANTA MONICA, Calif., Nov. 01, 2024 (GLOBE NEWSWIRE) -- Macerich (NYSE:MAC), one of the nation's leading owners, operators and developers of major retail properties in top markets, has earned the #1 ranking among all U.S. retail in the GRESB Real Estate Assessment for the 10th consecutive year.
Macerich ranked #3 in Retail, Americas, and earned the prestigious GRESB Green Star rating based on absolute performance.
"GRESB and our peers raise the bar every year. We appreciate this comprehensive assessment of our progress, and we are honored to receive this recognition of the results our initiatives have delivered," said Olivia Bartel Leigh, Executive Vice President, Portfolio Operations and People, Macerich. "As we operate thriving retail centers that bring communities together, we take pride in continuing to set the standard for sustainability in our industry. This work is a core element of Macerich's sharp focus on double materiality, which measures our sustainability efforts by their ability to also deliver a positive financial impact."
Macerich implements sustainability activities that will improve long-term operational performance, in alignment with the Path Forward Plan that Macerich launched earlier this year. The company has established a goal of achieving full net-zero carbon emissions, including in its supply chain, by 2040. Macerich's sustainability accolades include ranking #23 on the EPA Green Power Partnership On-Site Generation list for solar generation and inclusion among Newsweek's "America's Most Responsible Companies."
"As the global push for sustainability intensifies, the progress reflected in this year's GRESB Benchmark is inspiring. GRESB Members continue to lead the way, demonstrating the tangible benefits of strong ESG performance," said Sebastien Roussotte, CEO, GRESB.
The GRESB Real Estate Assessment measures and benchmarks global assets' ESG performance against their peers, providing financial markets with comparable insights on complex sustainability topics. This year's Real Estate Assessment saw a record 2,223 listed and non-listed portfolios participate, generating a benchmark covering $7 trillion (US) of gross asset value (GAV) across 200,000-plus assets in 80 markets.
For more details about Macerich's comprehensive ESG focus, please review the most recent Corporate Responsibility Report, which includes data for the period ending December 31, 2023, or visit the company's corporate responsibility website.
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 150 institutional and financial investors to inform decision-making. For more information, visit GRESB.com.
About Macerich
Macerich is a fully integrated, self-managed, 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 45 million square feet of real estate, consisting primarily of interests in 41 retail 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 Global Real Estate Sustainability Benchmark (GRESB) ranking for the North American retail sector for 10 consecutive years (2015-2024). For more information, please visit www.Macerich.com.
Macerich uses, and intends to continue to use, its Investor Relations website, which can be found at investing.macerich.com, as a means of disclosing material nonpublic information and for complying with its disclosure obligations under Regulation FD. Additional information about Macerich can be found through social media platforms such as LinkedIn. Reconciliations of non-GAAP financial measures, including NOI and FFO, to the most directly comparable GAAP measures are included in the earnings release and supplemental filed on Form 8-K with the SEC, which are posted on the Investor Relations website at investing.macerich.com.
MAC-C
SOURCE: Macerich
MEDIA CONTACT: Arun Khosla, VP Corporate Communications, [email protected]
