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Status: Please note you should read all Brexit changes to the FCA Handbook and BTS alongside the main FCA transitional directions. Where these directions apply the 'standstill', firms have the choice between complying with the pre-IP completion day rules, or the post-IP completion day rules. To see a full list of Handbook modules affected, please see Annex B to the main FCA transitional directions.

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Article 13 Transparency requirements for estimations

  1. (1)

    In addition to the requirements laid down in Annex III to Regulation (EU) 2016/1011, administrators of EU Climate Transition Benchmarks and administrators of EU Paris-aligned Benchmarks shall comply with the following requirements:

    1. (a)

      administrators of EU Climate Transition Benchmarks and administrators of EU Paris-aligned Benchmarks that use estimations that are not based on data provided by an external data provider, shall formalise, document and make public the methodology upon which such estimations are based, including:

      1. (i)

        the approach that they have used to calculate GHG emissions, and the main assumptions and the precautionary principles underlying those estimations;

      2. (ii)

        the research methodology to estimate missing, unreported, or underreported GHG emissions;

      3. (iii)

        the external data sets used in the estimation of missing, unreported or underreported GHG emissions;

    2. (b)

      administrators of EU Climate Transition Benchmarks and administrators of EU Paris-aligned Benchmarks that use estimations that are based on data provided by an external data provider shall formalise, document and make public all of the following information:

      1. (i)

        the name and contact details of the data provider;

      2. (ii)

        the methodology used and the main assumptions and precautionary principles, where available;

      3. (iii)

        a hyperlink to the website of the data provider, and to the relevant methodology used, where available.

  2. (2)

    For the purposes of Article 12(2), administrators of EU Paris-aligned Benchmarks shall comply with the following requirements:

    1. (a)

      administrators of EU Paris-aligned Benchmarks that use estimations that are not based on data provided by an external data provider shall formalise, document and make public the methodology upon which such estimations are based, including:

      1. (i)

        the approach and research methodology that they have used, and the main assumptions and precautionary principles underlying those estimations;

      2. (ii)

        the external data sets used in the estimation;

    2. (b)

      administrators of EU Paris-aligned Benchmarks that use estimations that are based on data provided by an external data provider shall formalise, document and make public all of the following information:

      1. (i)

        the name and contact details of the data provider;

      2. (ii)

        the methodology used and the main assumptions and precautionary principles, where available;

      3. (iii)

        a hyperlink to the website of the data provider, and to the relevant methodology used, where available.