OpenLegislation

Article 13 Transparency requirements for estimations

United Kingdom

Original text. Later amendments are not shown.

1.

In addition to the requirements laid down in Annex III to Regulation (EU) 2016/1011, administrators of F1UK Climate Transition Benchmarks and administrators of F2UK Paris-aligned Benchmarks shall comply with the following requirements:

(a)

administrators of UK Climate Transition Benchmarks and administrators of UK Paris-aligned Benchmarks that use estimations that are not based on data provided by an external data provider, shall formalise, document and make public the methodology upon which such estimations are based, including:

  1. (i)

    the approach that they have used to calculate GHG emissions, and the main assumptions and the precautionary principles underlying those estimations;

  2. (ii)

    the research methodology to estimate missing, unreported, or underreported GHG emissions;

  3. (iii)

    the external data sets used in the estimation of missing, unreported or underreported GHG emissions;

(b)

administrators of UK Climate Transition Benchmarks and administrators of UK Paris-aligned Benchmarks that use estimations that are based on data provided by an external data provider shall formalise, document and make public all of the following information:

  1. (i)

    the name and contact details of the data provider;

  2. (ii)

    the methodology used and the main assumptions and precautionary principles, where available;

  3. (iii)

    a hyperlink to the website of the data provider, and to the relevant methodology used, where available.

2.

For the purposes of Article 12(2), administrators of UK Paris-aligned Benchmarks shall comply with the following requirements:

(a)

administrators of UK Paris-aligned Benchmarks that use estimations that are not based on data provided by an external data provider shall formalise, document and make public the methodology upon which such estimations are based, including:

  1. (i)

    the approach and research methodology that they have used, and the main assumptions and precautionary principles underlying those estimations;

  2. (ii)

    the external data sets used in the estimation;

(b)

administrators of UK Paris-aligned Benchmarks that use estimations that are based on data provided by an external data provider shall formalise, document and make public all of the following information:

  1. (i)

    the name and contact details of the data provider;

  2. (ii)

    the methodology used and the main assumptions and precautionary principles, where available;

  3. (iii)

    a hyperlink to the website of the data provider, and to the relevant methodology used, where available.

Annotations

Textual amendments

F1

Words in Ch. 3 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(7)(a)

F2

Words in Ch. 3 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(7)(b)

Notes on the whole EU Regulation

Textual amendments

F1

Words in title substituted (18.10.2021) by The Markets in Financial Instruments, Benchmarks and Financial Promotions (Amendment) (EU Exit) Regulations 2021 (revoked) 2021 (S.I. 2021/1074), reg. 6(2)