FIA joined with four other associations representing financial and commodity market participants in Europe to express their concerns in relation to the regulation of carbon benchmarks. In a letter submitted to the European Securities and Markets Authority, the five associations commented on the requirement for benchmark administrators to comply with additional obligations set out in Regulation (EU) 2019/2089 (Low Carbon Benchmarks Regulation) by 30 April 2020. The associations asked ESMA to consider publishing guidance to national competent authorities setting out its expectation that they will not prioritise their supervisory actions in relation to implementation of the obligations under the Low Carbon Benchmarks Regulation until the Level 2 measures have been finalised and administrators have had the opportunity to implement the Level 2 measures. The other four associations were: the Association of European Energy Exchanges (Europex), the Association for Financial Markets in Europe (AFME), the European Federation of Energy Traders (EFET), and the International Swaps and Derivatives Association (ISDA).
FIA contact: Christiane Leuthier
