Commission Delegated Regulation (EU) 2020/1816Show full title

Commission Delegated Regulation (EU) 2020/1816 of 17 July 2020 supplementing Regulation (EU) 2016/1011 of the European Parliament and of the Council as regards the explanation in the benchmark statement of how environmental, social and governance factors are reflected in each benchmark provided and published (Text with EEA relevance)

Article 1U.K.Definitions

For the purposes of this Regulation, the following definitions shall apply:

(za)

[F1“environmental goods and services sector” means the production activities that generate environmental products (environmental goods and services);

(zb)

“environmental products” means products that have been produced for the purpose of environmental protection and resource management;

(zc)

“environmental protection” includes all activities and actions which have as their main purpose the prevention, reduction and elimination of pollution and of any other degradation of the environment, and—

(i)

includes all measures taken in order to restore the environment after it has been degraded; and

(ii)

excludes activities which, while beneficial to the environment, primarily satisfy the technical needs or the internal requirements for hygiene or safety and security of an enterprise or other institution;]

(a)

‘equity’ means listed shares;

(b)

‘fixed income’ means listed debt securities, other than those issued by a sovereign issuer;

(ba)

[F2“resource management” includes the preservation, maintenance and enhancement of the stock of natural resources and therefore the safeguarding of those resources against depletion;

(bb)

“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;]

(c)

‘sovereign debt’ means debt securities issued by a sovereign issuer.

Textual Amendments