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Commission Delegated Regulation (EU) 2020/1817Show full title
Commission Delegated Regulation (EU) 2020/1817 of 17 July 2020 supplementing Regulation (EU) 2016/1011 of the European Parliament and of the Council as regards the minimum content of the explanation on how environmental, social and governance factors are reflected in the benchmark methodology (Text with EEA relevance)
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Article 1U.K.Explanation on how ESG factors are reflected in the benchmark methodology
1.Benchmark administrators shall explain, using the template laid down in the Annex to this Regulation, which of the environmental, social and governance (ESG) factors referred to in Annex II to Commission Delegated Regulation (EU) 2020/1816(1) they have taken into account when designing their benchmark methodology. They shall also explain how those factors are reflected in the key elements of that methodology, including for the selection of underlying assets, weighting factors, metrics and proxies.
The requirement set out in the first subparagraph shall not apply to commodity benchmarks.
2.For individual benchmarks, benchmark administrators may, rather than providing all the information required by the template laid down in the Annex to this Regulation, replace that information by a hyperlink in the explanation provided, to a website that contains all that information.
3.Where benchmarks blend different types underlying assets, benchmark administrators shall explain how ESG factors are reflected for each of the relevant underlying asset.
4.Benchmark administrators may include in the explanation provided additional ESG factors and related information.
5.Benchmark administrators shall clearly state in the explanation provided whether they do or do not pursue ESG objectives.
6.Benchmark administrators shall include in the explanation provided a reference to the sources of data and standards used for each ESG factor disclosed.
Article 2U.K.Update of the explanation provided
Benchmark administrators shall update the explanation provided whenever the benchmark methodology is changed, and in any case on an annual basis. They shall state the reasons for the update.
Article 3U.K.Entry into force and application
This Regulation shall enter into force on the twentieth day following that of its publication in the Official Journal of the European Union.
This Regulation shall be binding in its entirety and directly applicable in all Member States.
Done at Brussels, 17 July 2020.
For the Commission
The President
Ursula von der Leyen
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