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Article 19a UK Climate Transition Benchmarks and UK Paris-aligned BenchmarksF1F6

United Kingdom

Original text. Later amendments are not shown.

1.

The requirements laid down in Annex III shall apply to the provision of, and contribution to, F2UK Climate Transition Benchmarks and UK Paris-aligned Benchmarks, in addition to the requirements of Titles II, III and IV.

2.

F3The Treasury may make regulations to supplement this Regulation by laying down the minimum standards for F4UK Climate Transition Benchmarks and UK Paris-aligned Benchmarks to specify:

(a)

the criteria for the choice of the underlying assets, including, where applicable, any criteria for excluding assets;

(b)

the criteria and method for the weighting of the underlying assets in the benchmark;

(c)

the determination of the decarbonisation trajectory for UK Climate Transition Benchmarks.

3.

Benchmark administrators which provide an F5UK Climate Transition Benchmark or an UK Paris-aligned Benchmark shall comply with this Regulation by 30 April 2020.

Annotations

Textual amendments

F1

Inserted by Regulation (EU) 2019/2089 of the European Parliament and of the Council of 27 November 2019 amending Regulation (EU) 2016/1011 as regards EU Climate Transition Benchmarks, EU Paris-aligned Benchmarks and sustainability-related disclosures for benchmarks (Text with EEA relevance).

F2

Word in Art. 19a(1) substituted (31.12.2020) by The Benchmarks (Amendment and Transitional Provision) (EU Exit) Regulations 2019 (S.I. 2019/657), regs. 1(2), 14A(3)(b) (with regs. 51-53, 65) (as amended by S.I. 2019/1212, regs. 1(3), 20(3)(4); S.I. 2020/628, regs 1(3), 12(4); and with savings in S.I. 2019/680, reg. 11); 2020 c. 1, Sch. 5 para. 1(1)

F3

Words in Art. 19a(2) substituted (31.12.2020) by The Benchmarks (Amendment and Transitional Provision) (EU Exit) Regulations 2019 (S.I. 2019/657), regs. 1(2), 14A(3)(c)(i) (with regs. 51-53, 65) (as amended by S.I. 2019/1212, regs. 1(3), 20(3)(4); S.I. 2020/628, regs 1(3), 12(4); and with savings in S.I. 2019/680, reg. 11); 2020 c. 1, Sch. 5 para. 1(1)

F4

Words in Art. 19a(2) substituted (31.12.2020) by The Benchmarks (Amendment and Transitional Provision) (EU Exit) Regulations 2019 (S.I. 2019/657), regs. 1(2), 14A(3)(c)(ii) (with regs. 51-53, 65) (as amended by S.I. 2019/1212, regs. 1(3), 20(3)(4); S.I. 2020/628, regs 1(3), 12(4); S.I. 2020/1385, regs. 1(4), 68; and with savings in S.I. 2019/680, reg. 11); 2020 c. 1, Sch. 5 para. 1(1)

F5

Word in Art. 19a(3) substituted (31.12.2020) by The Benchmarks (Amendment and Transitional Provision) (EU Exit) Regulations 2019 (S.I. 2019/657), regs. 1(2), 14A(3)(d) (with regs. 51-53, 65) (as amended by S.I. 2019/1212, regs. 1(3), 20(3)(4); S.I. 2020/628, regs 1(3), 12(4); and with savings in S.I. 2019/680, reg. 11); 2020 c. 1, Sch. 5 para. 1(1)

F6

Art. 19a heading substituted (31.12.2020) by The Benchmarks (Amendment and Transitional Provision) (EU Exit) Regulations 2019 (S.I. 2019/657), regs. 1(2), 14A(3)(a) (with regs. 51-53, 65) (as amended by S.I. 2019/1212, regs. 1(3), 20(3)(4); S.I. 2020/628, regs 1(3), 12(4); and with savings in S.I. 2019/680, reg. 11); 2020 c. 1, Sch. 5 para. 1(1)

Notes on Chapter 3A

Textual amendments

F2

Ch. 3a heading substituted (31.12.2020) by The Benchmarks (Amendment and Transitional Provision) (EU Exit) Regulations 2019 (S.I. 2019/657), regs. 1(2), 14A(2) (with regs. 51-53, 65) (as amended by S.I. 2019/1212, regs. 1(3), 20(3)(4); S.I. 2020/628, regs 1(3), 12(4); and with savings in S.I. 2019/680, reg. 11); 2020 c. 1, Sch. 5 para. 1(1)