{
  "url": "https://openlegislation.uk/eu-regulation-2020-1818/article-1",
  "json_url": "https://openlegislation.uk/eu-regulation-2020-1818/article-1.json",
  "legislation": "eur/2020/1818",
  "legislation_title": "Commission Delegated Regulation (EU) 2020/1818 of 17 July 2020 supplementing Regulation (EU) 2016/1011 of the European Parliament and of the Council as regards minimum standards for UK Climate Transition Benchmarks and UK Paris-aligned Benchmarks",
  "legislation_url": "https://openlegislation.uk/eu-regulation-2020-1818",
  "path": "article/1",
  "kind": "article",
  "number": "1",
  "heading": "Definitions",
  "text": "For the purposes of this Regulation, the following definitions shall apply:\n(a)‘greenhouse gas (GHG) emissions’ means emissions of carbon dioxide (CO2), methane (CH4), nitrous oxide (N2O), hydrofluorocarbons (HFCs), perfluorocarbons (PFCs), nitrogen trifluoride (NF3) and sulphur hexafluoride (SF6);\n(b)‘absolute greenhouse gas (GHG) emissions’ means tonnes of CO2 equivalent...;\n(ba)“emissions”, in relation to a greenhouse gas, means emissions of that gas into the atmosphere that are attributable to human activity;\n(bb)“global warming potential” and “GWP” have the same meaning as in Article 2(6) of Regulation (EU) No 517/2014;\n(bc)a “tonne(s) of CO2 equivalent” means a quantity of greenhouse gases, expressed as the product of the mass of the greenhouse gases in metric tonnes and of their global warming potential (GWP);\n(c)‘greenhouse gas (GHG) intensity’ means absolute GHG emissions divided by millions of pounds sterling in enterprise value including cash;\n(d)‘enterprise value including cash’ or ‘EVIC’ means the sum, at fiscal year-end, of the market capitalisation of ordinary shares, the market capitalization of preferred shares, and the book value of total debt and non-controlling interests, without the deduction of cash or cash equivalents;\n(e)‘investable universe’ means the set of all investable instruments in a given asset class or group of asset classes;\n(f)‘base year’ means the first of a series of years in a benchmark;\n(g)“SIC” means the UK Standard Industrial Classification of Economic Activities 2007 (SIC 2007) published by the Office for National Statistics, as amended from time to time.",
  "extent": "E+W+S+N.I.",
  "status": null,
  "version": "current",
  "annotations": [
    {
      "type": "F",
      "label": "F1",
      "text": "Words in Art. 1(a) substituted (18.10.2021) by The Markets in Financial Instruments, Benchmarks and Financial Promotions (Amendment) (EU Exit) Regulations 2021 (S.I. 2021/1074), regs. 1(2), 6(3)(a)"
    },
    {
      "type": "F",
      "label": "F2",
      "text": "Words in Art. 1(b) omitted (18.10.2021) by virtue of The Markets in Financial Instruments, Benchmarks and Financial Promotions (Amendment) (EU Exit) Regulations 2021 (S.I. 2021/1074), regs. 1(2), 6(3)(b)"
    },
    {
      "type": "F",
      "label": "F3",
      "text": "Arts. 1(ba)-(bc) inserted (18.10.2021) by The Markets in Financial Instruments, Benchmarks and Financial Promotions (Amendment) (EU Exit) Regulations 2021 (S.I. 2021/1074), regs. 1(2), 6(3)(c)"
    },
    {
      "type": "F",
      "label": "F4",
      "text": "Words in Art. 1(c) substituted (18.10.2021) by The Markets in Financial Instruments, Benchmarks and Financial Promotions (Amendment) (EU Exit) Regulations 2021 (S.I. 2021/1074), regs. 1(2), 6(3)(d)"
    },
    {
      "type": "F",
      "label": "F5",
      "text": "Art. 1(g) inserted (18.10.2021) by The Markets in Financial Instruments, Benchmarks and Financial Promotions (Amendment) (EU Exit) Regulations 2021 (S.I. 2021/1074), regs. 1(2), 6(3)(e)"
    }
  ],
  "outstanding_effects": [],
  "provenance": {
    "source": "legislation.gov.uk",
    "source_url": "https://www.legislation.gov.uk/eur/2020/1818/article/1",
    "retrieved_at": "2026-11-01T14:42:19.280123+00:00"
  },
  "licence": "Open Government Licence v3.0",
  "licence_url": "https://www.nationalarchives.gov.uk/doc/open-government-licence/version/3/",
  "attribution": "Contains public sector information licensed under the Open Government Licence v3.0. Source: legislation.gov.uk, The National Archives."
}