Meritage Homes Releases Second Annual Environmental, Social and Governance Report

National homebuilder also publishes inaugural Task Force on Climate-Related Financial Disclosures Report

SCOTTSDALE, Ariz., Sept. 29, 2022 (GLOBE NEWSWIRE) -- Meritage Homes (NYSE:MTH), the seventh-largest public homebuilder in the U.S., today announced the release of its second annual Environmental, Social and Governance (ESG) report. The comprehensive review of 2021 covers the Company’s sustainability and governance practices, diversity, equity and inclusion (DE&I) efforts, and milestones achieved during the year.

Building off last year’s inaugural greenhouse gas emissions inventory, Meritage is the first U.S. public production builder to issue a Task Force on Climate-Related Financial Disclosures (TCFD) report, which outlines the Company’s climate risks and opportunities. As an official TCFD supporter, Meritage is aligned with the organization’s recommendations to build a more resilient financial system through climate-related disclosure. The Company also included Equal Employment Opportunity (EEO-1) disclosures for the first time in this ESG report, which provides a standardized demographic breakdown of its workforce.

“Responsible corporate citizenry is paramount at Meritage. By embedding sustainability and DE&I into our strategy and operations, we look to maintain our position as an industry leader in ESG and continue to deliver long-term value to all stakeholders,” said Phillippe Lord, Chief Executive Officer of Meritage Homes. “There is no finish line when it comes to ESG, and our commitment to these efforts is evergreen. There is still much work to be done, but our team is excited to continue doing what we do best: delivering our brand promise of a Life. Built. Better.”

In line with its commitment to ESG reporting transparency, Meritage provided disclosures under the shareholder-endorsed frameworks of the Sustainability Accounting Standards Board, the Global Reporting Initiative, the United Nations Sustainable Development Goals and the Task Force on Climate-Related Financial Disclosures.

Key highlights from Meritage’s 2021 ESG report include:

Environmental:

• Delivered 12,801 ENERGY STAR® certified homes in 2021 with an average HERS Index score of 53, which we are targeting to maintain or lower in the future.
• Tracked initial environmental benefits along Meritage’s value chain, including recycled material use, natural resource conservation and reduction in waste generation.

Social:

• Focused on affordability, dedicated 76% of Meritage communities in 2021 to entry-level homes including townhomes, smaller single family floorplans, and redevelopment and infill communities.
• Recorded 30% better safety performance and achieved 15% stronger Glassdoor average employee rating than the U.S. public production builder industry.
• Formalized Meritage’s Vendor Code of Conduct and hosted events to collaborate with suppliers on business and sustainability initiatives.
  

Governance:

• Increased board diversity based on both gender and ethnic background to 27%.
• Enhanced cyber risk management and consumer data privacy through adherence to the voluntary Center for Internet Security control framework.

For more information on Meritage’s ESG initiatives and to view the full 2021 ESG report and 2021 TCFD report, visit: https://investors.meritagehomes.com/environmental-social-and-governance/esg-reporting.

About Meritage Homes Corporation:

Meritage Homes is the seventh-largest public homebuilder in the United States, based on homes closed in 2021. The Company offers a variety of entry-level and first move-up homes. Operations span across Arizona, California, Colorado, Texas, Florida, Georgia, North Carolina, South Carolina, Tennessee, and Utah.

Meritage Homes has delivered over 155,000 homes in its 36-year history, and has a reputation for its distinctive style, quality construction, and award-winning customer experience. The Company is the industry leader in energy-efficient homebuilding and a nine-time recipient of the U.S. Environmental Protection Agency’s ("EPA") ENERGY STAR® Partner of the Year for Sustained Excellence Award since 2013 for innovation and industry leadership in energy-efficient homebuilding, and the recipient of the EPA Indoor airPLUS Leader Award.

For more information, visit www.meritagehomes.com.

Released September 29, 2022