Summary of the final report on EU Climate Benchmarks and Benchmarks’ ESG Disclosures.Final report on EU Climate Benchmarks and Benchmarks’ ESG Disclosures.The final report will serve as a basis for the Commission for the drafting of delegated acts in accordance with the empowerments laid down in the amending regulation to Regulation (EU) 2016/1011. Those aim to improve transparency and comparability of information across all benchmarks.īelow please find the report and the 2-pager that summarises the key aspects of the final report. The report also recommends a set of Environmental, Social and Governance (ESG) disclosure requirements, including the standard format to be used for the reporting. The final report recommends a list of minimum technical requirements for the methodologies of ‘EU Climate Transition’ and ‘EU Paris-aligned’ benchmarks, with the objective to address the risk of greenwashing. On 30 September 2019, the TEG published its final report on climate benchmarks and benchmarks’ ESG disclosures. View responses authorised for publication The interim report was accompanied by a call for feedback that ran until the end of July 2019. Factsheet: Financing sustainable growth.Summary of the interim report on EU climate benchmarks and benchmarks’ ESG disclosures.Interim report on EU climate benchmarks and benchmarks’ ESG disclosures.The report recommends a list of minimum standards for the methodologies of EU Climate Transition and Paris-aligned benchmarks addressing the risk of greenwashing, and disclosure requirements to improve transparency and comparability of information across benchmarks not only regarding climate-related information but also on a variety of ESG indicators.Ī 2-pager summarising the key aspects of the report was also published. On 18 June 2019, the TEG published its report on climate benchmarks and benchmarks’ ESG disclosures. You will find below further information on the work conducted by the TEG. The delegated acts were published in the Official Journal of the European Union on 3 December 2020 and entered into application on 23 December 2020. On 17 July 2020, the European Commission adopted new rules setting out minimum technical requirements for the methodology of EU climate benchmarks. ![]() ![]() The TEG published its final report in September 2019 followed by a complementary handbook in December 2019.įollowing publication of this report and handbook, the Commission published in April 2020 the draft delegated acts for public consultation. ![]() The Technical Expert Group on sustainable finance (TEG) was set up in July 2018 to assist the Commission in the implementation of the action plan and the regulation, in particular the minimum standards for EU climate transition and EU Paris-aligned Benchmarks, and the content and form of the ESG disclosure requirements. The Commission put forward in May 2018 a proposal for a regulation creating two type of low carbon benchmarks and requiring environmental, social and governance (ESG) disclosure requirements for benchmarks.įollowing the legislative process, Regulation (EU) 2019/2089 of 27 November 2019 amending Regulation (EU) 2016/1011 as regards EU climate transition benchmarks, EU Paris-aligned Benchmarks and sustainability-related disclosures for benchmarks was published in the Official Journal on 9 December 2019, and entered into application on 30 April 2020. The Technical Expert Group (TEG) on sustainable finance was set up in July 2018 to assist the Commission in the implementation of the action plan and the proposed regulation on climate benchmarks. To achieve these objectives, the action plan lists a series of actions which should be implemented by 2019. In the action plan: financing sustainable growth, published in March 2018, the European Commission announced forthcoming measures to enhance the ESG transparency of benchmark methodologies and an initiative to put forward standards for the methodology of low-carbon benchmarks in the Union.
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