Describe the process(es) your organization has in place to ensure that your engagement activities are consistent with your overall climate change strategy[…]We see our engagement with trade associations and policy makers as the activities that have potential to influence policy, law, or regulation that may impact the climate. We conduct these engagements in line with our overall climate change strategy and commitment to environmental leadership, which includes our goal to achieve carbon neutrality by 2030, two decades ahead of the Paris Agreement. As Macerich's sustainability activities are in advance of the Paris Agreement, we believe all our engagement activities are so too.
To ensure our engagements remain aligned with our strategy, Macerich is well-represented on various trade groups such as RER, NAREIT, and ICSC. The VP, Sustainability provides updates from these engagements as he is an active participant in the Sustainability Committees for each of these organizations. He investigates opportunities related to climate change and is responsible for ensuring that Macerich's position within these organizations is always consistent with the overall climate change strategy of the Company. In particular, the VP, Sustainability directly contributes to advocating, driving, and shaping these trade groups' direct and indirect activities that influence policy.
In a similar vein, in late 2020, the Executive VP, Portfolio Operations and People, began serving on NAREIT's ESG Steering Committee and helps to drive policy and requirements within the REIT industry to ensure alignment with Macerich's overall climate change strategy.
Furthermore, the VP, Sustainability meets bi-weekly with the Executive VP, Portfolio Operations and People, and the Executive VP, Portfolio Operations and People meets weekly with the Executive VP, CFO to review energy use from facility operations against budgets and goals.
Progress toward the implementation of sustainability projects is then reported to the CEO on a quarterly basis to review progress against overall sustainability goals; results of these meetings are reported to the Board on a quarterly basis as well. This process ensures that our mall and tenant activities are being operated consistently with our overall sustainability goals.