# Regulation (EU) 2016/1011 of the European Parliament and of the Council of 8 June 2016 on indices used as benchmarks in financial instruments and financial contracts or to measure the performance of investment funds and amending Directives 2008/48/EC and 2014/17/EU and Regulation (EU) No 596/2014 (Text with EEA relevance), Article 19b: Requirements for UK Climate Transition Benchmarks

Extent: E+W+S+N.I.

Administrators of UK Climate Transition Benchmarks shall select, weight, or exclude underlying assets issued by companies that follow a decarbonisation trajectory by 31 December 2022, in accordance with the following requirements:
(i)the companies disclose measurable carbon emission reduction targets to be achieved within specific timeframes;
(ii)the companies disclose a reduction in carbon emissions which is disaggregated down to the level of relevant operating subsidiaries;
(iii)the companies disclose annual information on progress made towards those targets;
(iv)the activities relating to the underlying assets do not significantly harm other ESG objectives.

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Source: https://www.legislation.gov.uk/eur/2016/1011/article/19b (the official version)
Page: https://openlegislation.uk/eu-regulation-2016-1011/article-19b
Contains public sector information licensed under the Open Government Licence v3.0. Source: legislation.gov.uk, The National Archives.