11/5/2015 | By Sarah Borchersen-Keto
Host Hotels & Resorts, Inc. (NYSE: HST), Macerich (NYSE: MAC) and Simon Property Group (NYSE: SPG) have been recognized by the international non-profit organization CDP for their efforts toward addressing climate change.
All three REITs were named to CDP’s Climate A List for 2015, which includes 113 global companies across 10 industrial sectors. Companies are scored for their performance on climate change mitigation, adaptation and transparency. They are also assessed for the completeness and quality of their information.
Simon noted in a release on the honor that 2015 marks the second consecutive year that the company has reached the top group of companies.
Mona Benisi, senior director of sustainability at Simon, said the shopping center REIT incorporates sustainable practices into its daily operations to improve efficiency and reduce energy usage and operating costs.
“Being a leader in sustainability performance is an expectation of our stakeholders, and we are pleased to be able to meet those expectations once again this year,” she added.
Michael Chang, director of energy and sustainability with Host Hotels, said corporate responsibility is an important part of the REIT’s asset management and enhancement strategy. “It is integrated into all aspects of our business, from assessing sustainability opportunities and risks during acquisitions due diligence to informing disciplined capital allocation in our redevelopment and return on investment projects,” he said.
According to CDP, the data it has collected show significant improvements in corporate management of climate change.
“What was leading behavior in 2010 is now standard practice,” the organization said in an announcement regarding the winners. A higher percentage of companies are allocating responsibility for climate issues to their boards or senior management teams, CDP said. Meanwhile, the percentage of companies setting targets to reduce emissions has also grown.
CDP provides information on environmental performance to large investors. According to the firm, there has been a 54 percent rise since 2010 in the number of institutional investors requesting disclosure of climate change, energy and emissions data.