BMR REFIT: Scope Limited To Significant And Climate Benchmarks

Following a REFIT review of the Benchmarks Regulation (BMR Refit), the Commission has proposed excluding non-significant EU and non-EU benchmarks from the scope of the BMR.

The Commission's BMR Refit proposals, adopted on 17 October 2023, include:

1. Reduction in scope: the scope of the BMR would be limited to administrators of critical/significant benchmarks and EU climate benchmarks (Paris-aligned and Climate Transition benchmarks (PABs/CTBs)). The current €50bn usage threshold for significant benchmarks is retained with the option for Member States to designate particular benchmarks as significant if they meet qualitative conditions for significance. EU CTBs/PABs would be regulated in the same way as significant benchmarks, irrespective of their size.