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					<dc:identifier>http://www.legislation.gov.uk/eur/2020/1816/article/2</dc:identifier><dc: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)</dc:title><dct:alternative>Commission Delegated Regulation (EU) 2020/1816</dct:alternative><dc:description>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)</dc:description><dc:publisher>King's Printer of Acts of Parliament</dc:publisher><dc:source>https://webarchive.nationalarchives.gov.uk/eu-exit/https://eur-lex.europa.eu/legal-content/EN/TXT/?uri=CELEX:32020R1816</dc:source><dc:type>text</dc:type><dc:format>text/xml</dc:format><dc:language>en</dc:language><dc:modified>2024-10-03</dc:modified><dc:contributor>Expert Participation</dc:contributor><dct:valid>2023-07-11</dct:valid>
					
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				</ukm:Metadata><EURetained><EUBody DocumentURI="http://www.legislation.gov.uk/eur/2020/1816/body" IdURI="http://www.legislation.gov.uk/id/eur/2020/1816/body" NumberOfProvisions="4" RestrictExtent="E+W+S+N.I." RestrictStartDate="2021-10-18"><P1group RestrictExtent="E+W+S+N.I." RestrictStartDate="2020-07-17"><Title>Explanation of how ESG factors are reflected in each benchmark or family of benchmarks</Title><P1 DocumentURI="http://www.legislation.gov.uk/eur/2020/1816/article/2" IdURI="http://www.legislation.gov.uk/id/eur/2020/1816/article/2" id="article-2">
               <Pnumber>Article 2</Pnumber>
               <P1para>
                  <P2 DocumentURI="http://www.legislation.gov.uk/eur/2020/1816/article/2/1" IdURI="http://www.legislation.gov.uk/id/eur/2020/1816/article/2/1" id="article-2-1">
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                        <Text>Benchmark administrators shall explain in the benchmark statement, using the template laid down in Annex I, how the environmental, social and governance (ESG) factors listed in Annex II are reflected in each benchmark or family of benchmarks they provide and publish.</Text>
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                     <P2para>
                        <Text>The requirement set out in the first subparagraph shall not apply to interest rate and foreign exchange benchmarks.</Text>
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                  <P2 DocumentURI="http://www.legislation.gov.uk/eur/2020/1816/article/2/2" IdURI="http://www.legislation.gov.uk/id/eur/2020/1816/article/2/2" id="article-2-2">
                     <Pnumber PuncBefore="" PuncAfter=".">2</Pnumber>
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                        <Text>The explanation referred to in paragraph 1 shall include the score of the ESG factors <Emphasis>vis-à-vis</Emphasis> the corresponding benchmark and family of benchmark, at an aggregated weighted average value.</Text>
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                  <P2 DocumentURI="http://www.legislation.gov.uk/eur/2020/1816/article/2/3" IdURI="http://www.legislation.gov.uk/id/eur/2020/1816/article/2/3" id="article-2-3">
                     <Pnumber PuncBefore="" PuncAfter=".">3</Pnumber>
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                        <Text>For individual benchmarks, benchmark administrators may, rather than providing all the information required by the template laid down in Annex I to this Regulation, replace that information by a hyperlink included in the benchmark statement, to a website that contains all that information.</Text>
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                  <P2 DocumentURI="http://www.legislation.gov.uk/eur/2020/1816/article/2/4" IdURI="http://www.legislation.gov.uk/id/eur/2020/1816/article/2/4" id="article-2-4">
                     <Pnumber PuncBefore="" PuncAfter=".">4</Pnumber>
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                        <Text>Where benchmarks blend different underlying assets, benchmark administrators shall explain how ESG factors are reflected for each of the underlying assets.</Text>
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                  <P2 DocumentURI="http://www.legislation.gov.uk/eur/2020/1816/article/2/5" IdURI="http://www.legislation.gov.uk/id/eur/2020/1816/article/2/5" id="article-2-5">
                     <Pnumber PuncBefore="" PuncAfter=".">5</Pnumber>
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                        <Text>Benchmark administrators shall include in the explanation provided a reference to the sources of data and standards used for the ESG factors disclosed.</Text>
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                  <P2 DocumentURI="http://www.legislation.gov.uk/eur/2020/1816/article/2/6" IdURI="http://www.legislation.gov.uk/id/eur/2020/1816/article/2/6" id="article-2-6">
                     <Pnumber PuncBefore="" PuncAfter=".">6</Pnumber>
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                        <Text>Benchmark administrators that disclose additional ESG factors in accordance with Article 1(4) of Commission Delegated Regulation (EU) 2020/1817<FootnoteRef Ref="f00004"/> shall include the score of those additional ESG factors.</Text>
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               <Text>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 (See page 12 of this Official Journal).</Text>
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