SANTA MONICA, Calif., Feb. 21, 2019 /PRNewswire/ -- Macerich (NYSE: MAC), one of the nation's leading owners, operators and developers of one-of-a-kind retail properties in top markets, today announced it has earned a top ranking on the 2018 CDP Climate A List – one of just 130+ out of nearly 7,000 participating companies.
Macerich is the only U.S. retail real estate company to earn this highest level of recognition from CDP, which ranks companies by grades starting with "A," followed by "A-" through "D-."
In all, just 29 U.S. companies made the CDP Climate A List. Per CDP, Macerich is one of the leading companies spearheading the response to climate change through corporate leadership.
"Earning the highest marks from CDP underscores Macerich's longstanding and fully integrated commitment to conducting all aspects of our business with sustainability as a core value," said Tom O'Hern, Chief Executive Officer, Macerich. "We do this for many reasons. Not only is sustainability important to the future of the planet, but our properties are located in some of the most environmentally aware places in the world. This means our employees, customers, retailers and brand partners appreciate our commitment to the environment and how this sets our portfolio apart."
CDP assesses companies on the comprehensiveness of their disclosure, their awareness and management of environmental risks and their demonstration of best practices associated with environmental leadership, such as setting ambitious and meaningful targets.
Macerich has a long record as the industry leader for environmental achievements. In late 2018, Macerich was awarded the National Association of Real Estate Investment Trusts (Nareit) 2018 Retail "Leader in the Light" for a remarkable fifth year in a row. As well, last year Macerich achieved two other important measures of sustainability leadership, both for the fourth year in a row: GRESB's #1 ranking in the North American Retail Sector for 2018, and a place on the Environmental Protection Agency's Green Power Partnership list of Top 30 On-Site Generation companies.
Regarding Macerich's sustainability-minded development efforts, last year the company's major redevelopment of Broadway Plaza in Walnut Creek, CA, earned the demanding LEED Gold® certification awarded by the U.S. Green Building Council.
Macerich, an S&P 500 company, is a fully integrated self-managed and self-administered real estate investment trust, which focuses on the acquisition, leasing, management, development and redevelopment of regional malls throughout the United States.
Macerich currently owns 51 million square feet of real estate consisting primarily of interests in 47 regional shopping centers. Macerich specializes in successful retail properties in many of the country's most attractive, densely populated markets with significant presence on the West Coast and in Arizona, Chicago and the Metro New York to Washington, D.C. corridor. Additional information about Macerich can be obtained from the Company's website at www.macerich.com.