The Benchmarks Regulation places regulatory requirements on the provision and use of financial indices that are used as benchmarks. In 2019, the Benchmarks Regulation was amended to enhance the transparency and comparability of low-carbon benchmarks. The Regulation creates specific disclosure requirements and minimum standards to be used within the calculation methodology of benchmarks, and introduces two new categories of climate-related benchmark to support investors who wish to pursue climate-conscious investment strategies. This will help ensure that consumers can make informed decisions about their investments. Funds will also be in scope of the UK green finance taxonomy’s disclosure obligations. Please refer to the FCA’s response for further information.