The Macerich Company
Climate Impact & Sustainability Data (2023)
Reporting Period: 2023
Environmental Metrics
Total Carbon Emissions:231,420 tCO2e/year
Scope 1 Emissions:28,470 tCO2e/year
Scope 2 Emissions:15,791 tCO2e/year
Scope 3 Emissions:187,159 tCO2e/year
Renewable Energy Share:34%
Total Energy Consumption:538,100 MWh/year
Water Consumption:783,340,248 gallons/year
Waste Generated:49,487 tons/year
Carbon Intensity:Not disclosed
ESG Focus Areas
- Environmental Stewardship
- Education & Enrichment
- Sustainable & DEIB-Integrated Operations
- Making Space for All
- Responsible Corporate Oversight
Environmental Achievements
- 34% of portfolio electricity consumption from clean or renewable resources
- 10% reduction in electricity consumption since 2021
- 5% reduction in market-based carbon emissions since 2021
- 54 million gallon reduction in water use since 2021
- 55% waste diversion rate achieved in 2023
Social Achievements
- 52,000 lives saved from blood drive events
- 50,000 trees donated
- 20,000 students supported by back-to-school campaigns
- 2,300+ community events hosted at Macerich properties
- 433 unique organizations supported through donations and volunteerism
Governance Achievements
- #1 ranking retail, Americas in GRESB Real Estate Assessment
- Rated A for disclosure in 2023 GRESB Real Estate Assessment
- Named one of America’s Most Responsible Companies by Newsweek
- Prime status from Institutional Shareholder Services (ISS)
- 10.5 risk rating, low risk by Sustainalytics
Climate Goals & Targets
Long-term Goals:
- Achieve operational carbon neutrality by 2030
- Achieve net-zero operations by 2035
- Reach net-zero in supply chain by 2040
Medium-term Goals:
- Achieve 60% waste diversion rate by 2030
- Source 60% of portfolio energy from renewables by 2030
Short-term Goals:
- Reduce energy use intensity by 25%
- Reduce water use intensity by 15%
Environmental Challenges
- Water scarcity
- Drought conditions
- Climate-related hazards impacting operations
- Tenant emissions contributing substantially to overall environmental impact
- Embodied carbon in construction and renovations
Mitigation Strategies
- Leak detection, smart irrigation, water-saving fixtures, active water management, compliance with water conservation regulations
- Decarbonization pathways for each property, enhancing energy efficiency, generating more renewable energy
- Green lease program, mandatory energy training for leasing teams, landlord energy management best practices in lease agreements
- Life-cycle assessments (LCAs) to assess embodied carbon, identify reduction strategies
- Investments in hard-asset improvements to mitigate risks from extreme storms and heat waves
Supply Chain Management
Supplier Audits: Not disclosed
Responsible Procurement
- Supplier Code of Conduct
- Sustainable Procurement & Practices Policy
Climate-Related Risks & Opportunities
Physical Risks
- Heat waves
- Flooding
- Wildfires
- Drought
- Extreme storms
- Sea-level rise
Transition Risks
- Market shifts
- Technology changes
- Policy and regulation changes
- Reputation risks
Opportunities
- Investment in energy efficiency projects
- Investment in renewable energy projects
- Green building practices
- Sustainable development
- Resilience measures
Reporting Standards
Frameworks Used: GRI, ISSB, UN SDGs
Certifications: LEED Gold & Silver, BREEAM USA, IREM Certified Sustainable Property
Third-party Assurance: KERAMIDA Inc.
UN Sustainable Development Goals
- Not disclosed
Not disclosed
Sustainable Products & Innovation
- Not disclosed
Awards & Recognition
- GRESB Real Estate Assessment #1 ranking retail, Americas; Rated A for disclosure
- Newsweek: One of America’s Most Responsible Companies
- ISS: Prime status
- Sustainalytics: 10.5 risk rating, low risk