Regulation EU 2019/2089 – Climate Related Benchmarks, A Contribution To A Greener Future?

On 9 December 2019, Regulation 2019/2089 ("2019/2089") of the European Parliament and of the Council of 27 November 2019 was published in the official journal of the European Union.  2019/2089 amends Regulation (EU) 2016/1011 as regards EU Climate Transition Benchmarks, EU Paris-aligned Benchmarks and sustainability-related disclosures for benchmarks.

Background

The EU is committed to the objectives of the 'Paris Agreement' on climate change.  To this end it has introduced measures which are intended to promote the 'greening' of financial investment. Specifically, the intention is to ensure that financial players are driven towards investment strategies that have regard to the reduction both of pollution and of 'Greenhouse' gas emissions, the preservation of water supplies, the prevention of deforestation and, the promotion of a circular economy.  An important element in this strategy is ensuring that existing and potential investors are presented with unambiguous