MERLIN Properties Annual Report 2023

96 | Annual report | 2023 Validation of MERLIN’s commitments by independent third parties As reported in MERLIN's Sustainability Policy, validation by independent third parties of the robustness and practical implementation of the commitments it has assumed is a basic principle that MERLIN follows. This principle is particularly relevant for asset operation, an area concentrating the Group main efforts where there is the most scope for outside validation of the actions undertaken. That is why MERLIN obtains LEED, BREEAM, ISO, AEO [Spanish Office Association], AIS, and WELL certification for its portfolio. MERLIN is committed to the highest standards of quality and excellence in its role as leader in developing and operating sustainable assets. This commitment is evidenced by the Company's aspiration to obtain certification under the leading sustainable building standards available, such as LEED and BREEAM, for virtually all its assets, including offices, logistics facilities, and shopping centres. MERLIN prioritises Building Design and Construction category LEED certification for new construction and complete renovation projects. For assets already in operation, the Company seeks to achieve the highest BREEAM standard In Use and Maintenance ratings and LEED Building Operations & Maintenance certification. This requires cooperative engagement of the tenants of these buildings with MERLIN. As part of the certification plan introduced by the Group in 2016, at the end of 2023, 94.2%, of MERLIN's strategic portfolio, measured in terms of GAV, had been certified under one of these two international benchmark standards for sustainable construction, LEED and BREEAM. MERLIN has thus positioned itself as a bellwether REIT in this area and has nearly achieved its goal of certifying 99% of offices, 100% of shopping centres, and 97% of logistics assets, measured in terms of GAV. MERLIN obtained or renewed a total of 41 LEED or BREEAM certifications in 2023 with the addition of these certifications, the current status of the portfolio in terms of sustainable construction certifications is as follows: LEED/BREEAM CERTIFICATIONS 30% Very Good 46% Good BREEAM 17% Correct 6% Excellent 12% Silver 10% Platinum 78% Gold LEED