ESMA_QA_869

Status: ✅ Answer Published

Link to ESMA Q&A tool: https://www.esma.europa.eu/publications-data/questions-answers/869

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Regulatory Context

Regulation : BMR

Level 1 Regulation: Benchmarks Regulation (BMR) - Regulation 2016/1011

Level 2 Regulation: No information available

Level 3 Regulation: No information available

Topic: Climate Benchmarks

Subject Matter: ESG factors reflected in the benchmark statement and methodology (ESMA70-145-114 QAs on BMR Q&A 10.4)

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Question

Submission Date: 01 April 2022

Should the details provided under item 6 and item 7 of Annex I of the Delegated Regulation (EU) No 2020/1816 include scores for each of the ESG factors listed in Annex II of that same regulation?

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ESMA Answer

Answer Date: 01-04-2022

Yes. Article 2(2) of the Delegated Regulation (EU) No 2020/1816 provides that an administrator has to provide the scores of the ESG factors listed in Annex II of the said regulation when responding to items 6 and 7 of Annex I of the same regulation. As a consequence, when a benchmark’s methodology pursues ESG objectives, the administrator should provide in its benchmark statement as a minimum all the ESG factors listed in Annex II of the Delegated Regulation (EU) 2020/1816 that are not flagged as voluntary, in order to ensure the comparability of the information provided for different benchmarks and to allow investors to make informed choices. In addition, administrators providing such information are expected to hold the necessary data to comply with this disclosure obligation.

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This document was automatically extracted from the ESMA EMIR Q&A database.