Macerich Achieves Sector Leading Ranking, Green Star Rating in GRESB Real Estate Assessment
Macerich, a leading owner, operator, and developer of retail and mixed-use properties, has once again secured the top spot in the 2023 GRESB Real Estate Assessment, ranking number one among all U.S. retail companies and within the top 10 globally. This remarkable achievement marks the ninth consecutive year that Macerich has claimed the number one position in the U.S. Retail: Retail Centers sector.
In addition to this impressive feat, Macerich has also received the prestigious GRESB Green Star rating, which recognizes the company’s outstanding performance in sustainability. Furthermore, Macerich earned an “A” score in the GRESB Public Disclosure Assessment, highlighting its commitment to stakeholder engagement and transparent communication of its environmental, social, and governance (ESG) efforts.
Olivia Bartel Leigh, Executive Vice President of Portfolio Operations and People at Macerich, expressed her gratitude for GRESB’s recognition of the company’s achievements in ESG. She stated, “We aim to continue to set the bar for sustainability in our industry, and we are committed to sharing our process and performance while maintaining focus on our customers, communities, shareholders, and industry peers.”
GRESB, a global organization that assesses and benchmarks the ESG performance of assets worldwide, provides valuable insights to financial markets on complex sustainability topics. The objective standards set by GRESB enable companies to measure their ESG journey and compare their accomplishments with their peers. In 2022, over 1,820 property companies, REITs, funds, and developers with a total of USD 6.9 trillion in assets participated in the assessment, covering more than 150,000 assets across 74 countries.
Ryan Knudson, Vice President of Corporate Responsibility and Sustainability at Macerich, emphasized the importance of GRESB in assessing the company’s progress towards achieving carbon neutrality by 2030. Knudson stated, “At Macerich, every employee across all disciplines and properties is focused on looking for opportunities and overcoming challenges, all while collaborating together to advance our Company’s ESG initiatives.”
Macerich is dedicated to sharing its ESG activities and progress through various channels, including its Corporate Responsibility Report, Annual Report, Proxy Statement, and Form 10-K, as well as other internal and external communications. The company’s most recent Corporate Responsibility Report provides comprehensive details of Macerich’s ESG focus, including its ambitious plan to achieve carbon neutrality by 2030, decades ahead of the Paris Climate Agreement.
As a fully integrated, self-managed, and self-administered real estate investment trust (REIT), Macerich owns, operates, and develops high-quality retail real estate in attractive U.S. markets. With a portfolio concentrated in California, the Pacific Northwest, Phoenix/Scottsdale, and the Metro New York to Washington, D.C. corridor, Macerich currently owns 47 million square feet of real estate, primarily consisting of interests in 44 regional town centers.
Macerich’s commitment to sustainability has been widely recognized, and the company has achieved the remarkable feat of being ranked number one by the Global Real Estate Sustainability Benchmark (GRESB) for nine consecutive years, from 2015 to 2023.
For more information about Macerich and its sustainable practices, please visit their website at www.Macerich.com.