BMR: Common Supervisory Action on ESG disclosures for Benchmarks Administrators
On December 13, 2023, the European Securities and Markets Authority (ESMA) announced the launch of a Common Supervisory Action (CSA) on ESG disclosures under the Benchmarks Regulation (BMR). It is the first CSA for ESMA in its role as a direct supervisor of Benchmarks Administrators.
The CSA will focus on supervised benchmarks administrators, located either in the Union or in a third country, that have acquired an authorisation, registration, recognition, or endorsement of their benchmarks under the BMR. The goal of the CSA will be to assess compliance of the supervised Benchmarks Administrators with the ESG disclosure requirements in the BMR.
The CSA will cover the disclosure of ESG factors in the benchmarks statement and in the benchmark’s methodology, and specific disclosure requirements regarding climate benchmarks methodology.
ESMA and the NCAs will carry out the CSA during 2024 and until Q1 2025.