MERLIN Properties Annual Report 2023

MERLIN Properties | 89 A breakdown of greenhouse gas (GHG) emissions for consumption of electricity, fuels (natural gas and diesel) and district heating and cooling, including recharging refrigerant gases in cooling systems, is shown below. These data cover assets under MERLIN’s operational control, along with MERLIN’s headquarters in Madrid and the LOOM locations in Huertas and Salamanca. + MERLIN also continues to report its emissions using the location based method (1) . (1) Location based method: The location-based method does not factor in instruments and contracts and assigns the local grid average emission factor to all external usage, regardless of origin. In both methods Scope 1 emissions were calculated using the factors recommended by the Spanish Ministry for Ecological Transition and Demographic Challenge (MITERD). Scope 2 location-based emissions from electricity consumption were calculated considering the emission factor of the electricity mix for Spain and Portugal. The emission factor for the electricity mix is a rate that represents the CO 2 emission intensity associated with generating the electricity consumed. Therefore, it is a significant indicator of the ratio of low carbon energy sources to the country’s total electricity production. Scope 2 location-based emissions from district heating were obtained from the emission factor provided by each of the suppliers and emissions from district cooling were obtained considering the specific electricity consumption necessary for the cold water service and the emission factor for the Spanish electricity mix. For more information on the environmental performance of MERLIN’s portfolio and the methodological approach used, please see “Appendix I. EPRA Sustainability Best Practice Recommendations (sBPR) environmental performance report”. SCOPE 1 AND SCOPE 2 GREENHOUSE GAS (GHG) EMISSIONS Location-based Scopes 1 and 2 Scope 1 Scope 2 Location-based Intensity tCO 2 eq/sqm Scope 3 Absolute 2021 2,675 10,620 0.008 13,296 105,332 2022 Absolute 2,668 11,518 0.009 14,186 133,674 2023 Absolute 2,422 8,340 0.007 10,762 146,067