PROPERTIES WITH PURPOSE

In 2022, we continued to achieve industry-leading environmental goals that make sense for the communities we serve and honor our financial responsibility to our properties, our stakeholders and Macerich as a whole.

We remain on track toward our goal of carbon neutrality by 2030, two decades ahead of the goal established in the Paris Agreement. Additionally, we have created new, more stringent goals to better track our efforts and strive to achieve an even greater positive impact on our planet.

External metrics are an essential tool to validate our progress objectively, as shown in our steady position on the CDP A List and our #1 ranking among U.S. retail centers in the 2022 GRESB Real Estate Assessment.

Next, we are advancing our understanding of embodied carbon and its incorporation into our total greenhouse gas (GHG) emission calculations. These construction-related emissions represent a significant portion of the built environment's overall environmental impact, which Macerich is committed to minimizing.

Finally, we remain committed to integrating sustainable practices into our everyday business by energizing stakeholders, including our retailers, to engage in broader change to reduce climate impacts in our communities.

Validating Sbti Goals

In 2021, Macerich received validation of our Science Based Targets, an acknowledgment of our commitment to set science-based emissions reduction targets consistent with keeping global warming to 1.5°C above pre-industrial levels. The Science Based Targets initiative (SBTi) is a collaboration between CDP, the United Nations Global Compact, World Resources Institute (WRI) and World Wildlife Fund (WWF).

In signing the Business Ambition for 1.5°C pledge, we aligned with more than 1,000 companies worldwide in committing to a long-term target to reach net-zero emissions by 2050. Our target to achieve this goal is 2030 — a more ambitious goal, but one for which we are on track.