### the european parliament in its resolution on ‘ effective labour inspections as a strategy to improve working conditions in europe’ welcomed the commission’s initiative to create a european platform and called for enhanced cooperation at eu level to fight undeclared work27 . __________________ 27 european parliament resolution of 14 january 2014 on effective labour inspections as a strategy to improve working conditions in europe http : / / www . europarl . europa . eu / oeil / popups / ficheprocedure . do ? lang=en&reference=2013 / 2112 ### the european parliament in its resolution on ‘ effective labour inspections as a strategy to improve working conditions in europe’ welcomed the commission’s initiative to create a european platform and called for enhanced cooperation at eu level to fight undeclared work and to exchange experiences and good practices , to provide up - to - date , objective , reliable and comparative information , to enhance cross - border cooperation and to identify and keep a record of letter - box companies and similar operations27 . __________________ 27 european parliament resolution of 14 january 2014 on effective labour inspections as a strategy to improve working conditions in europe http : / / www . europarl . europa . eu / oeil / popups / ficheprocedure . do ? lang=en&reference=2013 / 2112


### four years after its entry into force , the commission shall submit a report on the application of this decision to the european parliament , the council , the european economic and social committee and the committee of the regions . the report shall in particular assess to what extent the platform has contributed to the achievement of the objectives set out in article 2 and fulfilled the tasks as set out in article 3 and in work programmes of the platform . ### the commission shall determine , in a report to be produced after four years and following consultation with members of the platform , whether the objectives set out in article 2 , the mission described in article 3 and the tasks laid out in article 4 have been achieved and whether the platform’s work should continue . the report shall , where necessary , propose changes to the work of the platform or recommend that it cease its activities . the report will be submitted to the european parliament , the council , the european economic and social committee and the committee of the regions .


### four years after its entry into force , the commission shall submit a report on the application of this decision to the european parliament , the council , the european economic and social committee and the committee of the regions . the report shall in particular assess to what extent the platform has contributed to the achievement of the objectives set out in article 2 and fulfilled the tasks as set out in article 3 and in work programmes of the platform . ### four years after its entry into force , the commission shall submit a report on the application and the added value of this decision to the european parliament , the council , the european economic and social committee and the committee of the region , and propose , where appropriate , necessary amendments and modifications or withdrawal of this decision . the report shall in particular assess to what extent the platform has contributed to the achievement of the objectives set out in article 2 and carried out the initiatives as set out in article 4 and addressed the priorities as set out in its work programmes .


### to achieve its objectives , the platform should be supported by a ‘ single point of contact’ in each member state who should have the necessary authority to liaise with national authorities dealing with the multifaceted aspects of undeclared work . ### to achieve its objectives , the platform should be supported by a ‘ single point of contact’ in each member state who should have the necessary authority to liaise with national authorities dealing with the multifaceted aspects of undeclared work . the work of the platform should stay at the expert level .


### a platform to enhance eu cooperation in the prevention and deterrence of undeclared work , hereinafter referred to as ' the platform ' , is hereby established . ### a european platform to enhance eu cooperation in the prevention and deterrence of undeclared work , and in the regularisation of jobs , is hereby established .


### the platform , as set out in article 1 , shall contribute to better enforcement of eu and national law , to the reduction of undeclared work and the emergence of formal jobs , hence avoiding the deterioration of quality of work , and to promote integration in the labour market and social inclusion by : ### the platform , as set out in article 1 , shall contribute to better enforcement of eu and national law , to the reduction of undeclared work and to the emergence of formal jobs . it shall thus help to embed the europe 2020 strategy and its employment objectives , providing a more effective european framework for employment and workplace health and safety . avoiding thereby the deterioration of quality of work , it shall promote integration in the labour market and social inclusion by :


### a two - year work programme of the platform setting out , inter alia , its detailed tasks and regular reports of the platform in every two years , ### adopt an annual as well as a multiannual work programme of the platform setting out , inter alia , its detailed tasks of the platform and taking into account the evaluation of the activities undertaken in the previous year ,


### the platform should involve the social partners at eu level , both cross - industry and in those sectors more severely affected by undeclared work , and cooperate with relevant international organisations , such as the international labour organisation , and union decentralised agencies , in particular eurofound and european agency for safety and health at work . the involvement of eurofound and european agency for safety and health at work in the work of the platform as observers will not extend their existing mandates . ### the platform should involve the social partners at eu level , both cross - industry and in those sectors that are either severely affected by undeclared work or have a particular role in the prevention and deterrence of undeclared work , and cooperate with relevant international organisations , such as the international labour organisation , and union decentralised agencies , in particular eurofound and european agency for safety and health at work . the involvement of eurofound and european agency for safety and health at work in the work of the platform as observers will not extend their existing mandates .


### at european level undeclared work is defined as ‘ any paid activities that are lawful as regards their nature but not declared to public authorities , taking into account differences in the regulatory systems of the member states’ , thus excluding all illegal activities . __________________ 28 communication from the commission ‘ stepping up the fight against undeclared work’ com 628 of 24 october 2007 http : / / eur - lex . europa . eu / lexuriserv / lexuriserv . do ? uri=celex : 52007dc0628 : en : html ### at european level undeclared work is defined as ‘ any paid activities that are lawful as regards their nature but not declared to public authorities , taking account differences in the regulatory systems of the member states’28 , thus excluding all illegal activities . it should be noted that definitions vary between the member states and that undeclared work exists in many different forms . __________________ 28 communication from the commission ‘ stepping up the fight against undeclared work’ com 628 of 24 october 2007 http : / / eur - lex . europa . eu / lexuriserv / lexuriserv . do ? uri=celex : 52007dc0628 : en : html


### cluster ' food and natural resources ' ; ### cluster ' agriculture , food and natural resources ' ;


### eur 10 000 000 000 for cluster ' food and natural resources ' ; ### eur 10 000 000 000 for cluster ' agriculture , food and natural resources ' ;


### the positive reweighting of low - carbon assets in the low carbon benchmark versus the parent index and the explanation of why this reweighting is necessary to reflect the chosen objectives of the low carbon benchmark ; ### the positive reweighting of assets with environmentally positive impact in the benchmark versus the parent index and the explanation of why this reweighting is necessary to reflect the chosen objectives of the positive impact benchmark ;


### a wide variety of indices is currently grouped together as low carbon indices . those low carbon indices are used as benchmarks for investment portfolios and products that are sold across borders . the quality and integrity of low carbon benchmarks affect the effective functioning of the internal market in a wide variety of individual and collective investment portfolios . many low carbon indices used as performance measures for investment portfolios , in particular for segregated investment accounts and collective investment schemes , are provided in one member state but used by portfolio and asset managers in other member states . in addition , portfolio and asset managers often hedge their carbon exposure risks by using benchmarks produced in other member states . ### a wide variety of indices is currently grouped together as low carbon or sustainability indices . those indices are used as benchmarks for investment portfolios and products that are sold across borders . the quality and integrity of benchmarks affect the effective functioning of the internal market in a wide variety of individual and collective investment portfolios . many low carbon and sustainability indices used as performance measures for investment portfolios , in particular for segregated investment accounts and collective investment schemes , are provided in one member state but used by portfolio and asset managers in other member states . in addition , portfolio and asset managers often hedge their carbon exposure and environmental risks by using benchmarks produced in other member states .


### it is furthermore necessary to introduce a clear distinction between low - carbon and positive carbon impact benchmarks . while the underlying assets in a low - carbon benchmark should be selected with the aim of reducing carbon emissions of the index portfolio when compared to the parent index , a positive carbon impact index should only comprise components whose emissions savings exceed their carbon emissions . ### while it is necessary to integrate circular economy indicators to all benchmark methodologies , a category of positive impact benchmarks should be introduced . the underlying assets in a positive impact benchmark should only comprise components whose net impact based on harmonised circular economy indicators is positive .


### administrators of low - carbon and positive carbon impact benchmarks shall adopt and make public to users procedures for and the rationale of any proposed material change in their methodology . those procedures shall be consistent with the overriding objective that benchmark calculations adhere continuously to the low - carbon or positive carbon impact objectives . those procedures shall provide : ### administrators of positive impact benchmarks shall adopt and make public to users procedures for and the rationale of any proposed material change in their methodology . those procedures shall be consistent with the overriding objective that benchmark calculations adhere continuously to the positive net impact objectives . those procedures shall provide :


### the ratio between the market value of the securities that are in the low carbon benchmark and the market value of the securities in the parent index ; ### the ratio between the market value of the securities that are in the positive impact benchmark and the market value of the securities in the parent index ;


### the commission shall be empowered to adopt delegated acts in accordance with article 49 to specify further the information referred to in in paragraph 2a . ### the commission shall be empowered to adopt delegated acts in accordance with article 49 to specify further the information referred to in in paragraph 2a , to update guidance on the benchmark statement to include references to esg and sustainability considerations .


### low - carbon and positive carbon impact benchmarks ### positive environmental impact benchmarks


### in order to enhance transparency and ensure an adequate level of harmonization , the power to adopt acts in accordance with article 290 of the treaty on the functioning of the european union should be delegated to the commission to specify further the minimum content of the disclosure obligations that benchmark administrators that take into account the esg objectives should be subject to , and to specify the minimum standards for harmonization of the methodology of low - carbon and positive carbon impact benchmarks , including the method for the calculation of carbon emissions and carbon savings associated with the underlying assets , taking into account the product and organisation environmental footprint methods as defined in points and of point 2 of commission recommendation 2013 / 179 / eu31 . it is of particular importance that the commission carry out appropriate consultations during its preparatory work , including at expert level , and that those consultations be conducted in accordance with the principles laid down in the interinstitutional agreement on better law - making of 13 april 2016 . in particular , to ensure equal participation in the preparation of delegated acts , the european parliament and the council receive all documents at the same time as member states’ experts , and their experts systematically have access to meetings of commission expert groups dealing with the preparation of delegated acts . __________________ 31 commission recommendation 2013 / 179 / eu of 9 april 2013 on the use of common methods to measure and communicate the life cycle environmental performance of products and organisations . ### in order to enhance transparency and ensure an adequate level of harmonization , the power to adopt acts in accordance with article 290 of the treaty on the functioning of the european union should be delegated to the commission to specify further the minimum content of the disclosure obligations that benchmark administrators should be subject to , and to specify the minimum standards for harmonization of integrating circular economy indicators in the methodology of benchmarks , including the method for the calculation of net environmental impact associated with the underlying assets , taking into account the product and organisation environmental footprint methods as defined in points and of point 2 of commission recommendation 2013 / 179 / eu31 and the circular economy indicators laid down in the commission circular economy monitoring platform and the commission circular economy action plan . it is of particular importance that the commission carry out appropriate consultations during its preparatory work , including at expert level , and that those consultations be conducted in accordance with the principles laid down in the interinstitutional agreement on better law - making of 13 april 2016 . in particular , to ensure equal participation in the preparation of delegated acts , the european parliament and the council receive all documents at the same time as member states’ experts , and their experts systematically have access to meetings of commission expert groups dealing with the preparation of delegated acts . __________________ 31 commission recommendation 2013 / 179 / eu of 9 april 2013 on the use of common methods to measure and communicate the life cycle environmental performance of products and organisations .


### a variety of benchmark administrators claim that their benchmarks pursue environmental , social and governance objectives . the users of those benchmarks do however not always have the necessary information on the extent to which the methodology of those benchmark administrators takes into account those esg objectives . the existing information is also often scattered and does not allow for effective comparison for investment purposes across borders . to enable market players to make well - informed choices , benchmark administrators should be required to disclose how their methodology takes into account the esg factors for each benchmark or family of benchmarks that is promoted as pursuing esg objectives . that information should also be disclosed in the benchmark statement . the administrators of benchmarks that do not promote or take into account the esg objectives , should not be subject to this disclosure obligation . ### the users of benchmarks do not always have the necessary information on the extent to which the methodology of benchmark administrators takes into account esg risks and impact . the existing information is often scattered and does not allow for effective comparison for investment purposes across borders . to enable market players to make well - informed choices , all benchmark administrators should be required to disclose how their methodology incorporates circular economy indicators for each benchmark . that information should be disclosed in the benchmark statement .


### the rationale for adopting a particular low - carbon methodology strategy or objective and an explanation of why the methodology is appropriate for the calculation of the low - carbon objectives of the benchmark ; ### the rationale for adopting a particular environmental methodology strategy or sustainability objective and an explanation of why the methodology is appropriate for the calculation of the environmental impact and sustainability objectives of the benchmark ;


### therefore , to maintain the proper functioning of the internal market , to further improve the conditions of its functioning , and to ensure a high level of consumer and investor protection , it is appropriate to adapt regulation 2016 / 1011 to lay down a regulatory framework for harmonised low carbon benchmarks at union level . ### therefore , to maintain the proper functioning of the internal market , to further improve the conditions of its functioning , and to ensure a high level of consumer and investor protection , it is appropriate to adapt regulation 2016 / 1011 to lay down a regulatory framework for integrating circular economy indicators in benchmark methodologies at union level .


### for the same reasons , administrators of low - carbon and of positive carbon impact benchmarks should equally publish their methodology used for their calculation . that information should describe how the underlying assets were selected and weighted and which assets were excluded and for what reason . the benchmark administrators should also specify how the low carbon benchmarks differ from the underlying parent index , notably in terms of the applicable weights , market capitalisation and financial performance of the underlying assets . to assess how the benchmark contributes to the environmental objectives , the benchmark administrator should disclose how the carbon footprint and carbon savings of the underlying assets were measured , their respective values , including the total carbon footprint of the benchmark , and the type and source of the data used . to enable asset managers to choose the most appropriate benchmark for their investment strategy , benchmark administrators should explain the rationale behind the parameters of their methodology and explain how the benchmark contributes to the environmental objectives , including its impact on climate - change mitigation . the published information should also include details on the frequency of reviews and the procedure followed . ### for the same reasons , benchmark administrators of positive impact benchmarks should equally publish their methodology used for their calculation . that information should describe how the underlying assets were selected and weighted and which assets were excluded and for what reason . the benchmark administrators should also specify how the positive impact benchmarks differ from the underlying parent index , notably in terms of the applicable weights , market capitalisation and financial performance of the underlying assets . to assess how the benchmark contributes to the environmental objectives , the benchmark administrator should disclose how the environmental impact and risks of the underlying assets were measured , their respective values , including the total environmental footprint of the benchmark , and the type and source of the data used . to enable asset managers to choose the most appropriate benchmark for their investment strategy , benchmark administrators should explain the rationale behind the parameters of their methodology and explain how the benchmark contributes to the environmental objectives . the published information should also include details on the frequency of reviews and the procedure followed .


### the criteria for and the methods of how the low carbon benchmark measures the carbon footprint and carbon savings associated with the underlying assets in the index portfolio ; ### the criteria for and the methods of how the positive impact benchmark measures the environmental impact associated with the underlying assets in the index portfolio ;


### an explanation of how the key elements of the methodology laid down in point reflect environmental , social or governance factors for each benchmark or family of benchmarks which pursue or take into account esg objectives ; ### an explanation of how the key elements of the methodology laid down in point reflect environmental , social or governance factors , including key circular economy indicators , such as co2 emissions , other emissions , impact on biodiversity , production of waste and the use of energy , renewable energy , raw materials , water , and land , as laid out by the commission monitoring framework on the circular economy ;


### the tracking error between the low carbon benchmark and the parent index ; ### the tracking error between the positive impact benchmark and the parent index ;


### the administrator of a low - carbon benchmark shall formalise , document and make public any methodology used for the calculation of low carbon benchmarks , describing the following : ### the administrator of a positive impact benchmark shall formalise , document and make public any methodology used for the calculation of circular economy indicators , describing the following :


### each company whose assets are selected as underlying in a positive impact benchmark should save more carbon emissions than it produces , hence have a positive impact on the environment . the asset and portfolio managers who claim to pursue an investment strategy compatible with the paris climate agreement should therefore use positive carbon impact benchmarks . ### each company whose assets are selected as underlying in a positive impact benchmark should have a positive net impact on the environment . the asset and portfolio managers who claim to pursue a sustainable investment strategy should therefore use positive impact benchmarks .


### regulation 2016 / 1011 of the european parliament and of the council30 establishes uniform rules for benchmarks in the union and caters for different types of benchmark . an increasing number of investors pursue low - carbon investment strategies and take recourse to low - carbon benchmarks to reference or measure the performance of investment portfolios . __________________ 30 regulation 2016 / 1011 of the european parliament and of the council of 8 june 2016 on indices used as benchmarks in financial instruments and financial contracts or to measure the performance of investment funds and amending directives 2008 / 48 / ec and 2014 / 17 / eu and regulation no 596 / 2014 . ### regulation 2016 / 1011 of the european parliament and of the council30 establishes uniform rules for benchmarks in the union and caters for different types of benchmark . an increasing number of investors pursue sustainable investment strategies and take recourse to benchmarks to reference or measure the performance of investment portfolios . __________________ 30 regulation 2016 / 1011 of the european parliament and of the council of 8 june 2016 on indices used as benchmarks in financial instruments and financial contracts or to measure the performance of investment funds and amending directives 2008 / 48 / ec and 2014 / 17 / eu and regulation no 596 / 2014 .


### the requirements laid down in annex iii shall apply to the provision of , and contribution to , low - carbon or positive carbon impact benchmarks in addition to , or as a substitute for , the requirements of title ii , iii and iv . ### the requirements laid down in annex iii shall apply to the provision of , and contribution to , positive environmental impact benchmarks in addition to , or as a substitute for , the requirements of title ii , iii and iv .


### low - carbon and positive carbon impact benchmarks ### positive impact benchmarks


### administrators of low - carbon and positive carbon impact benchmarks shall regularly examine their methodologies to ensure that they reliably reflect the relevant low - carbon or positive carbon objectives and shall have a process in place for taking the views of relevant users into account . ### administrators of positive impact benchmarks shall regularly examine their methodologies to ensure that they reliably reflect the stated objectives and shall have a process in place for taking the views of relevant users into account .


### different categories of low carbon indices with various degrees of ambition have emerged in the marketplace . while some benchmarks aim to lower the carbon footprint of a standard investment portfolio , others aim to select only components that contribute to attaining the 2°c degree objective set out in the paris climate agreement . despite differences in objectives and strategies , all of these benchmarks are commonly promoted as low - carbon benchmarks . ### different categories of sustainability indices with various degrees of ambition have emerged in the marketplace . despite differences in objectives and strategies , all of these benchmarks are commonly promoted as sustainability benchmarks .


### administrators of low - carbon and positive carbon impact benchmarks shall adopt and make public to users procedures for and the rationale of any proposed material change in their methodology . those procedures shall be consistent with the overriding objective that benchmark calculations adhere continuously to the low - carbon or positive carbon impact objectives . those procedures shall provide : ### administrators of positive impact benchmarks shall adopt and make public to users procedures for and the rationale of any proposed material change in their methodology . those procedures shall be consistent with the overriding objective that benchmark calculations adhere continuously to the positive net impact objectives . those procedures shall provide :


### ‘ low - carbon benchmark’ means a benchmark where the underlying assets , for the purposes of point 1 of this paragraph , are selected so that the resulting benchmark portfolio has less carbon emissions when compared to the assets that comprise a standard capital - weighted benchmark and which is constructed in accordance with the standards laid down in the delegated acts referred to in article 19a ; ### ‘ positive environmental impact benchmark’ means a benchmark where the underlying assets , for the purposes of point 1 of this paragraph , are selected on the basis that their positive net environmental footprint and which is constructed in accordance with the standards laid down in the delegated acts referred to in article 19a ;


### a wide variety of indices is currently grouped together as low carbon indices . those low carbon indices are used as benchmarks for investment portfolios and products that are sold across borders . the quality and integrity of low carbon benchmarks affect the effective functioning of the internal market in a wide variety of individual and collective investment portfolios . many low carbon indices used as performance measures for investment portfolios , in particular for segregated investment accounts and collective investment schemes , are provided in one member state but used by portfolio and asset managers in other member states . in addition , portfolio and asset managers often hedge their carbon exposure risks by using benchmarks produced in other member states . ### a wide variety of indices is currently grouped together as low carbon or sustainability indices . those indices are used as benchmarks for investment portfolios and products that are sold across borders . the quality and integrity of benchmarks affect the effective functioning of the internal market in a wide variety of individual and collective investment portfolios . many low carbon and sustainability indices used as performance measures for investment portfolios , in particular for segregated investment accounts and collective investment schemes , are provided in one member state but used by portfolio and asset managers in other member states . in addition , portfolio and asset managers often hedge their carbon exposure and environmental risks by using benchmarks produced in other member states .


### the type and source of input data used for the selection of assets or companies eligible for the low carbon benchmark , including : ### the type and source of input data used for the selection of assets or companies eligible for the positive impact benchmark , including :


### it is furthermore necessary to introduce a clear distinction between low - carbon and positive carbon impact benchmarks . while the underlying assets in a low - carbon benchmark should be selected with the aim of reducing carbon emissions of the index portfolio when compared to the parent index , a positive carbon impact index should only comprise components whose emissions savings exceed their carbon emissions . ### while it is necessary to integrate circular economy indicators to all benchmark methodologies , a category of positive impact benchmarks should be introduced . the underlying assets in a positive impact benchmark should only comprise components whose net impact based on harmonised circular economy indicators is positive .


### the administrator of a positive carbon impact benchmark , in addition to the obligations applicable to the administrator of a low carbon benchmark , shall disclose the positive carbon impact of each underlying asset included in the benchmark and shall specify the formula or calculation that is used to determine whether the emission savings exceed the investment asset ' s or company ' s carbon footprint . ### the administrator of a positive impact benchmark , in addition to the obligations stated above , shall disclose the positive environmental impact of each underlying asset included in the benchmark and shall specify the formula or calculation that is used to determine the net impact ) .


### for the same reasons , administrators of low - carbon and of positive carbon impact benchmarks should equally publish their methodology used for their calculation . that information should describe how the underlying assets were selected and weighted and which assets were excluded and for what reason . the benchmark administrators should also specify how the low carbon benchmarks differ from the underlying parent index , notably in terms of the applicable weights , market capitalisation and financial performance of the underlying assets . to assess how the benchmark contributes to the environmental objectives , the benchmark administrator should disclose how the carbon footprint and carbon savings of the underlying assets were measured , their respective values , including the total carbon footprint of the benchmark , and the type and source of the data used . to enable asset managers to choose the most appropriate benchmark for their investment strategy , benchmark administrators should explain the rationale behind the parameters of their methodology and explain how the benchmark contributes to the environmental objectives , including its impact on climate - change mitigation . the published information should also include details on the frequency of reviews and the procedure followed . ### for the same reasons , benchmark administrators of positive impact benchmarks should equally publish their methodology used for their calculation . that information should describe how the underlying assets were selected and weighted and which assets were excluded and for what reason . the benchmark administrators should also specify how the positive impact benchmarks differ from the underlying parent index , notably in terms of the applicable weights , market capitalisation and financial performance of the underlying assets . to assess how the benchmark contributes to the environmental objectives , the benchmark administrator should disclose how the environmental impact and risks of the underlying assets were measured , their respective values , including the total environmental footprint of the benchmark , and the type and source of the data used . to enable asset managers to choose the most appropriate benchmark for their investment strategy , benchmark administrators should explain the rationale behind the parameters of their methodology and explain how the benchmark contributes to the environmental objectives . the published information should also include details on the frequency of reviews and the procedure followed .


### the criteria for and the methods of how the low carbon benchmark measures the carbon footprint and carbon savings associated with the underlying assets in the index portfolio ; ### the criteria for and the methods of how the positive impact benchmark measures the environmental impact associated with the underlying assets in the index portfolio ;


### in order to enhance transparency and ensure an adequate level of harmonization , the power to adopt acts in accordance with article 290 of the treaty on the functioning of the european union should be delegated to the commission to specify further the minimum content of the disclosure obligations that benchmark administrators that take into account the esg objectives should be subject to , and to specify the minimum standards for harmonization of the methodology of low - carbon and positive carbon impact benchmarks , including the method for the calculation of carbon emissions and carbon savings associated with the underlying assets , taking into account the product and organisation environmental footprint methods as defined in points and of point 2 of commission recommendation 2013 / 179 / eu31 . it is of particular importance that the commission carry out appropriate consultations during its preparatory work , including at expert level , and that those consultations be conducted in accordance with the principles laid down in the interinstitutional agreement on better law - making of 13 april 2016 . in particular , to ensure equal participation in the preparation of delegated acts , the european parliament and the council receive all documents at the same time as member states’ experts , and their experts systematically have access to meetings of commission expert groups dealing with the preparation of delegated acts . __________________ 31 commission recommendation 2013 / 179 / eu of 9 april 2013 on the use of common methods to measure and communicate the life cycle environmental performance of products and organisations . ### in order to enhance transparency and ensure an adequate level of harmonization , the power to adopt acts in accordance with article 290 of the treaty on the functioning of the european union should be delegated to the commission to specify further the minimum content of the disclosure obligations that benchmark administrators should be subject to , and to specify the minimum standards for harmonization of integrating circular economy indicators in the methodology of benchmarks , including the method for the calculation of net environmental impact associated with the underlying assets , taking into account the product and organisation environmental footprint methods as defined in points and of point 2 of commission recommendation 2013 / 179 / eu31 and the circular economy indicators laid down in the commission circular economy monitoring platform and the commission circular economy action plan . it is of particular importance that the commission carry out appropriate consultations during its preparatory work , including at expert level , and that those consultations be conducted in accordance with the principles laid down in the interinstitutional agreement on better law - making of 13 april 2016 . in particular , to ensure equal participation in the preparation of delegated acts , the european parliament and the council receive all documents at the same time as member states’ experts , and their experts systematically have access to meetings of commission expert groups dealing with the preparation of delegated acts . __________________ 31 commission recommendation 2013 / 179 / eu of 9 april 2013 on the use of common methods to measure and communicate the life cycle environmental performance of products and organisations .


### the total carbon - footprint exposure of the index portfolio and the estimated impacts on climate - change mitigation of the low carbon strategy pursued by the benchmark ; ### the total net environmental impact of the index portfolio and the estimated impact on environment of the strategy pursued by the benchmark ;


### methodology for positive carbon impact benchmarks ### further methodology for positive impact benchmarks


### in addition , administrator of positive carbon impact benchmarks should disclose the positive carbon impact of each underlying asset included in those benchmarks , specifying the method used to determine whether the emission savings exceed the investment asset ' s carbon footprint . ### in addition , administrator of positive impact benchmarks should disclose the positive environmental impact of each underlying asset included in those benchmarks , specifying the method used to determine whether the net environmental impact is positive .


### to ensure continued adherence to the selected climate - change mitigation objective , administrators of low - carbon and positive carbon impact benchmarks should regularly review their methodologies and inform users of the applicable procedures for any material change . when introducing a material change , benchmark administrators should disclose the reasons for that change and explain how the change is consistent with the benchmarks’ initial objectives . ### to ensure accuracy of information to investors , administrators of positive impact benchmarks should regularly review their methodologies and inform users of the applicable procedures for any material change . when introducing a material change , benchmark administrators should disclose the reasons for that change and explain how the change is consistent with the benchmarks’ initial objectives .


### ‘ low - carbon benchmark’ means a benchmark where the underlying assets , for the purposes of point 1 of this paragraph , are selected so that the resulting benchmark portfolio has less carbon emissions when compared to the assets that comprise a standard capital - weighted benchmark and which is constructed in accordance with the standards laid down in the delegated acts referred to in article 19a ; ### ‘ low - carbon benchmark’ means a benchmark where the underlying assets , for the purposes of point 1 of this paragraph , are selected so that the resulting benchmark portfolio has fewer carbon emissions when compared to the benchmarks using the same methodology , but not taking carbon emissions into account and which is constructed in accordance with the minimum standards laid down in the delegated acts referred to in article 19a or with the benchmarks marketed as such ;


### proposal for a regulation of the european parliament and of the council amending regulation 2016 / 1011 on low carbon benchmarks and positive carbon impact benchmarks ### proposal for a regulation of the european parliament and of the council amending regulation 2016 / 1011 on integration of sustainability indicators in the methodology of benchmarks , and on positive impact benchmarks


### therefore , to maintain the proper functioning of the internal market , to further improve the conditions of its functioning , and to ensure a high level of consumer and investor protection , it is appropriate to adapt regulation 2016 / 1011 to lay down a regulatory framework for harmonised low carbon benchmarks at union level . ### therefore , to maintain the proper functioning of the internal market , to further improve the conditions of its functioning , and to ensure a high level of consumer and investor protection , it is appropriate to adapt regulation 2016 / 1011 to lay down a regulatory framework for integrating circular economy indicators in benchmark methodologies at union level .


### methodology for low carbon benchmarks ### methodology for positive impact benchmarks


### a variety of benchmark administrators claim that their benchmarks pursue environmental , social and governance objectives . the users of those benchmarks do however not always have the necessary information on the extent to which the methodology of those benchmark administrators takes into account those esg objectives . the existing information is also often scattered and does not allow for effective comparison for investment purposes across borders . to enable market players to make well - informed choices , benchmark administrators should be required to disclose how their methodology takes into account the esg factors for each benchmark or family of benchmarks that is promoted as pursuing esg objectives . that information should also be disclosed in the benchmark statement . the administrators of benchmarks that do not promote or take into account the esg objectives , should not be subject to this disclosure obligation . ### the users of benchmarks do not always have the necessary information on the extent to which the methodology of benchmark administrators takes into account esg risks and impact . the existing information is often scattered and does not allow for effective comparison for investment purposes across borders . to enable market players to make well - informed choices , all benchmark administrators should be required to disclose how their methodology incorporates circular economy indicators for each benchmark . that information should be disclosed in the benchmark statement .


### for each requirement in paragraph 2 , a benchmark statement shall contain an explanation of how environmental , social and governance factors are reflected for each benchmark or family of benchmarks provided and published which pursue or take into account esg objectives . ### for each requirement in paragraph 2 , a benchmark statement shall contain an explanation of how environmental , social and governance factors are reflected for each benchmark or family of benchmarks provided and published .


### regulation 2016 / 1011 of the european parliament and of the council30 establishes uniform rules for benchmarks in the union and caters for different types of benchmark . an increasing number of investors pursue low - carbon investment strategies and take recourse to low - carbon benchmarks to reference or measure the performance of investment portfolios . __________________ 30 regulation 2016 / 1011 of the european parliament and of the council of 8 june 2016 on indices used as benchmarks in financial instruments and financial contracts or to measure the performance of investment funds and amending directives 2008 / 48 / ec and 2014 / 17 / eu and regulation no 596 / 2014 . ### regulation 2016 / 1011 of the european parliament and of the council30 establishes uniform rules for benchmarks in the union and caters for different types of benchmark . an increasing number of investors pursue sustainable investment strategies and take recourse to benchmarks to reference or measure the performance of investment portfolios . __________________ 30 regulation 2016 / 1011 of the european parliament and of the council of 8 june 2016 on indices used as benchmarks in financial instruments and financial contracts or to measure the performance of investment funds and amending directives 2008 / 48 / ec and 2014 / 17 / eu and regulation no 596 / 2014 .


### the commission shall be empowered to adopt delegated acts in accordance with article 49 to specify further the minimum content of the explanation referred to in point of paragraph 1 . ### the commission shall be empowered to adopt delegated acts in accordance with article 49 to specify further the minimum content of the explanation referred to in point of paragraph 1 , and to update guidance on the benchmark statement referred to in article 27 to include references to esg and sustainability considerations .


### different categories of low carbon indices with various degrees of ambition have emerged in the marketplace . while some benchmarks aim to lower the carbon footprint of a standard investment portfolio , others aim to select only components that contribute to attaining the 2°c degree objective set out in the paris climate agreement . despite differences in objectives and strategies , all of these benchmarks are commonly promoted as low - carbon benchmarks . ### different categories of sustainability indices with various degrees of ambition have emerged in the marketplace . despite differences in objectives and strategies , all of these benchmarks are commonly promoted as sustainability benchmarks .


### the list of the underlying assets that are used for calculating the low carbon benchmark ; ### the list of the underlying assets that are used for calculating the positive net impact ;


### the commission shall be empowered to adopt delegated acts in accordance with article 49 to specify further the minimum content of the explanation referred to in point of paragraph 1 . ; ### the commission shall be empowered to adopt delegated acts in accordance with article 49 to specify further the minimum content of the explanation referred to in point of paragraph 1 of this article , and to update guidance on the benchmark statement referred to in article 27 to include references to esg risks and sustainability indicators .


### administrators of low - carbon and positive carbon impact benchmarks shall regularly examine their methodologies to ensure that they reliably reflect the relevant low - carbon or positive carbon objectives and shall have a process in place for taking the views of relevant users into account . ### administrators of positive impact benchmarks shall regularly examine their methodologies to ensure that they reliably reflect the stated objectives and shall have a process in place for taking the views of relevant users into account .


### each company whose assets are selected as underlying in a positive impact benchmark should save more carbon emissions than it produces , hence have a positive impact on the environment . the asset and portfolio managers who claim to pursue an investment strategy compatible with the paris climate agreement should therefore use positive carbon impact benchmarks . ### each company whose assets are selected as underlying in a positive impact benchmark should have a positive net impact on the environment . the asset and portfolio managers who claim to pursue a sustainable investment strategy should therefore use positive impact benchmarks .


### it is furthermore necessary to introduce a clear distinction between low - carbon and positive carbon impact benchmarks . while the underlying assets in a low - carbon benchmark should be selected with the aim of reducing carbon emissions of the index portfolio when compared to the parent index , a positive carbon impact index should only comprise components whose emissions savings exceed their carbon emissions . ### while it is necessary to integrate circular economy indicators to all benchmark methodologies , a category of positive impact benchmarks should be introduced . the underlying assets in a positive impact benchmark should only comprise components whose net impact based on harmonised circular economy indicators is positive .


### the criteria applied to exclude assets or companies that are associated with a level of carbon footprint or a level of fossil reserves that are incompatible with inclusion in the low carbon benchmark ; ### the criteria applied to exclude assets or companies that are having a negative net environmental impact and therefore incompatible with inclusion in the positive impact benchmark ;


### in addition , administrator of positive carbon impact benchmarks should disclose the positive carbon impact of each underlying asset included in those benchmarks , specifying the method used to determine whether the emission savings exceed the investment asset ' s carbon footprint . ### in addition , administrator of positive impact benchmarks should disclose the positive environmental impact of each underlying asset included in those benchmarks , specifying the method used to determine whether the net environmental impact is positive .


### therefore , to maintain the proper functioning of the internal market , to further improve the conditions of its functioning , and to ensure a high level of consumer and investor protection , it is appropriate to adapt regulation 2016 / 1011 to lay down a regulatory framework for harmonised low carbon benchmarks at union level . ### therefore , to maintain the proper functioning of the internal market , to further improve the conditions of its functioning , and to ensure a high level of consumer and investor protection , it is appropriate to adapt regulation 2016 / 1011 to lay down a regulatory framework for harmonised low carbon benchmarks at union level . this new regulatory framework for low carbon benchmarks shall not be applicable to any other type of benchmark though .


### an inorganic fertiliser shall be a fertiliser other than an organic or organo - mineral fertiliser . ### a mineral fertiliser shall be a fertiliser containing nutrients in a mineral form or processed into a mineral form . urea and its condensation and association products shall be considered to contain nutrients in a mineral form .


### ± 0 , 7 at the time of manufacture ± 1 , 0 at any time in the distribution chain ### ± 0 , 7 at the time of manufacture ± 0 . 9 at any time in the distribution chain


### a ce marked fertilising product may contain plants , plant parts or plant extracts having undergone no other processing than cutting , grinding , centrifugation , pressing , drying , freeze - drying or extraction with water . ### a ce marked fertilising product may contain plants , plant parts or plant extracts having undergone no other processing than cutting , grinding , centrifugation , sieving , milling , centrifugation , pressing , drying , freeze - drying , buffering , extrusion , frost - treatment , radiation , sanitation by using heat , or extraction with water .


### for certain recovered wastes within the meaning of directive 2008 / 98 / ec of the european parliament and of the council20 , a market demand for their use as fertilising products has been identified . furthermore , certain requirements are necessary for the waste used as input in the recovery operation and for the treatment processes and techniques , as well as for fertilising products resulting from the recovery operation , in order to ensure that the use of those products does not lead to overall adverse environmental or human health impacts . for ce marked fertilising products , those requirements should be laid down in this regulation . therefore , as of the moment of compliance with all the requirements of this regulation , such products should cease to be regarded as waste within the meaning of directive 2008 / 98 / ec . __________________ 20 directive 2008 / 98 / ec of the european parliament and of the council on waste and repealing certain directives . ### for certain recovered wastes such as struvite , biochar and ash - based products within the meaning of directive 2008 / 98 / ec of the european parliament and of the council20 , a market demand for their use as fertilising products has been identified . furthermore , certain requirements are necessary for the waste used as input in the recovery operation and for the treatment processes and techniques , as well as for fertilising products resulting from the recovery operation , in order to ensure that the use of those products does not lead to overall adverse environmental or human health impacts . for ce marked fertilising products , those requirements should be laid down in this regulation . therefore , as of the moment of compliance with all the requirements of this regulation , such products should cease to be regarded as waste , within the meaning of directive 2008 / 98 / ec , and accordingly it should be possible for products containing or consisting of such recovered waste materials to access the internal market . to ensure legal clarity and to further stimulate the incentive among producers to make more use of valuable waste streams , the scientific analyses and the setting of process requirements on union level for such products should start immediately after the entry into force of this regulation . accordingly , the power to adopt acts in accordance with article 290 of the treaty should be delegated to the commission in respect of defining , without unnecessary delay , larger or additional categories of component materials eligible for the use in the production of ce marked fertilising products such as struvite , biochar and ash - based products . __________________ 20 directive 2008 / 98 / ec of the european parliament and of the council on waste and repealing certain directives .


### - carbon and ### - organic carbon and


### - 0 , 75% by mass of total calcium oxide , ### - 1 , 5% by mass of total calcium oxide , or


### a ce marked fertilising product that has undergone a recovery operation and complies with the requirements laid down in this regulation shall be considered to comply with the conditions laid down in article 6 of directive 2008 / 98 / ec and shall , therefore , be considered as having ceased to be waste . ### a material that has undergone a recovery operation and complies with the requirements laid down in this regulation shall be considered to be a component material of a ce marked fertilising product that complies with the conditions laid down in article 6 of directive 2008 / 98 / ec and shall , therefore , be considered to have ceased being waste . this component material may fall under the scope of this regulation if it demonstrates an agronomic efficacy and if it meets the requirements laid down in the annexes to this regulation .


### –the additive is registered pursuant to regulation no 1907 / 200644 , in a dossier containing __________________ 44 in the case of an additive recovered in the european union , this condition is fulfilled if the additive is the same , within the meaning of article 2 of regulation no 1907 / 2006 , as a substance registered in a dossier containing the information here indicated , and if information is available to the fertilising product manufacturer within the meaning of article 2 of regulation no 1907 / 2006 . ### –the additive is registered pursuant to regulation no 1907 / 200644 , unless explicitly covered by one of the registration obligation exemptions provided for in article 6 of that regulation or in annex iv or annex v to it . __________________ 44 in the case of an additive recovered in the european union , this condition is fulfilled if the additive is the same , within the meaning of article 2 of regulation no 1907 / 2006 , as a substance registered in a dossier containing the information here indicated , and if information is available to the fertilising product manufacturer within the meaning of article 2 of regulation no 1907 / 2006 .


### the test shall be conducted at 25&#176 ; c &#177 ; 2&#176 ; c . ### a standard for the biodegradability by setting a timeframe in which at least 90% of the organic carbon is converted into co2 , after the claimed release time of the polymer has been fulfilled , and


### –sewage sludge , industrial sludge or dredging sludge , ### –sewage sludge , industrial sludge other than those specified in point or dredging sludge , and


### –are listed in the table below : azotobacter spp . mycorrhizal fungi rhizobium spp . azospirillum spp . ### – subject to appropriate data protection and data licensing requirements , any micro - organism that is allowed for any of the following uses : –incorporation into a ' foodstuff ' as defined in article 2 of regulation no 178 / 2002 or is allowed to be used in the processing of any such foodstuff , including cultures that are considered to be ' traditional food ingredients ' within the meaning of regulation no 178 / 2002 of the european parliament and of the council ; –use as a feed additive as indicated by inclusion in the european union register of feed additives pursuant to regulation 1831 / 2003 ; –use as a plant protection active ingredient under regulation no 1107 / 2009 or as a biocide under regulation no 528 / 20121a . any micro - organism that has been evaluated as being safe for use as a biostimulant using relevant common specifications or harmonised standards adopted in accordance with regulation no 1025 / 20121b that detail acceptable thresholds and analytical methods for safety criteria including those outlined in article 42 of this regulation .


### - 1 , 5% by mass of total phosphorus pentoxide , ### - 3% by mass of total phosphorus pentoxide , or


### proposal for a regulation of the european parliament and of the council laying down rules on the making available on the market of ce marked fertilising products and amending regulations no 1069 / 2009 and no 1107 / 2009 ### proposal for a regulation of the european parliament and of the council laying down rules on the making available on the market of ce marked fertilising products and amending regulations no 1069 / 2009 , no 1107 / 2009 , directive 91 / 676 / eec and regulation no 1907 / 2006 ,


### the conditions for making fertilisers available on the internal market have been partially harmonised through regulation no 2003 / 2003 of the european parliament and of the council15 , which almost exclusively covers fertilisers from mined or chemically produced , inorganic materials . there is also a need to make use of recycled or organic materials for fertilising purposes . harmonised conditions for making fertilisers made from such recycled or organic materials available on the entire internal market should be established in order to provide an important incentive for their further use . the scope of the harmonisation should therefore be extended in order to include recycled and organic materials . __________________ 15 regulation no 2003 / 2003 of the european parliament and of the council of 13 october 2003 relating to fertilisers . ### the conditions for making fertilisers available on the internal market have been partially harmonised through regulation no 2003 / 2003 of the european parliament and of the council15 , which almost exclusively covers fertilisers from mined or chemically produced , mineral materials . there is also a need to make use of recycled or organic materials for fertilising purposes . harmonised conditions for making fertilisers made from such recycled or organic materials available on the entire internal market should be established in order to provide an important incentive for their further use . the scope of the harmonisation should therefore be extended in order to include recycled and organic materials . __________________ 15 regulation no 2003 / 2003 of the european parliament and of the council of 13 october 2003 relating to fertilisers .


### a ce marked fertilising product that has undergone a recovery operation and complies with the requirements laid down in this regulation shall be considered to comply with the conditions laid down in article 6 of directive 2008 / 98 / ec and shall , therefore , be considered as having ceased to be waste . ### where a material that was waste has undergone a recovery operation in accordance with this regulation and a compliant ce marked fertilising product contains or consists of that material , the material shall be considered to comply with the conditions laid down in article 6 of directive 2008 / 98 / ec and shall , therefore , be considered as having ceased to be waste from the moment the eu declaration of conformity is drawn up .


### - 0 , 75% by mass of total sulphur trioxide , or ### - 1 , 5% by mass of total sulphur trioxide , or


### a growing medium shall be a material other than soil intended for use as a substrate for root development . ### a growing medium shall be a material other than soil in situ in which plants and mushrooms are grown .


### - 0 , 75% by mass of total magnesium oxide , ### - 1 , 5% by mass of total magnesium oxide , or


### –have undergone no other processing than drying or freeze - drying and ### – are one of the following micro - organisms : –azotobacter spp . –mycorrhizal fungi –rhizobia –azospirillum spp .


### a soil improver shall be a ce marked fertilising product aimed at being added to the soil for the purpose of maintaining , improving or protecting the physical or chemical properties , the structure or the biological activity of soil . ### a soil improver shall be a material added to soil in situ primarily to maintain or improve its physical properties , and which may improve its chemical and / or biological properties or activity .


### a description of all components above 5% by product weight in descending order of magnitude by dry weight , including an indication of the relevant component material categories as referred to in annex ii . ### a description of all components above 1% by product weight in descending order of magnitude by dry weight , including an indication of the relevant component material categories as referred to in annex ii and including the content as percentage by the dry matter ;


### as of [ publications office , please insert the date occurring three years after the date of application of this regulation ] , the following criterion shall be complied with : the polymer shall be capable of undergoing physical , biological decomposition , such that most of it ultimately decomposes into carbon dioxide , biomass and water . it shall have at least 90 % of the organic carbon converted into co2 in maximum 24 months , in a biodegradability test as specified points - below . ### as of [ publications office , please insert the date occurring three years after the date of application of this regulation ] , the following requirements shall be introduced :


### the commission shall be empowered to adopt delegated acts in accordance with article 43 to amend annexes i to iv for the purposes of adapting them to technical progress and facilitating internal market access and free movement for ce marked fertilising products ### the commission shall be empowered to adopt delegated acts in accordance with article 43 and taking into account the results of the report mentioned in para . 1a to amend annexes i to iv for the purposes of adapting them to technical progress and facilitating internal market access and free movement for ce marked fertilising products .


### - 1 , 5% by mass of total nitrogen , ### - 3% by mass of total nitrogen , or


### - 1 , 5% by mass of total potassium oxide , ### - 3% by mass of total potassium oxide , or


### certain substances , mixtures and micro - organisms , commonly referred to as plant biostimulants , are not as such nutrients , but nevertheless stimulate plants’ nutrition processes . where such products aim solely at improving the plants’ nutrient use efficiency , tolerance to abiotic stress , or crop quality traits , they are by nature more similar to fertilising products than to most categories of plant protection products . such products should therefore be eligible for ce marking under this regulation and excluded from the scope of regulation no 1107 / 2009 of the european parliament and of the council21 . regulation no 1107 / 2009 should therefore be amended accordingly . __________________ 21 regulation no 1107 / 2009 of the european parliament and of the council of 21 october 2009 concerning the placing of plant protection products on the market and repealing council directives 79 / 117 / eec and 91 / 414 / eec . ### certain substances , mixtures and micro - organisms , commonly referred to as plant biostimulants , are not as such nutrients , but nevertheless stimulate plants’ nutrition processes . where the dominant effect of such products aims at improving the plants’ nutrient use efficiency , tolerance to abiotic stress , or crop quality traits , they are by nature more similar to fertilising products than to most categories of plant protection products . such products should therefore be eligible for ce marking under this regulation and excluded from the scope of regulation no 1107 / 2009 of the european parliament and of the council21 . regulation no 1107 / 2009 should therefore be amended accordingly . __________________ 21 regulation no 1107 / 2009 of the european parliament and of the council of 21 october 2009 concerning the placing of plant protection products on the market and repealing council directives 79 / 117 / eec and 91 / 414 / eec .


### the commission shall be empowered to adopt delegated acts in accordance with article 43 to amend annexes i to iv for the purposes of adapting them to technical progress and facilitating internal market access and free movement for ce marked fertilising products ### the commission shall be empowered to adopt delegated acts in accordance with article 43 to amend annexes i to iv for the purposes of adapting them to technical progress , in particular as regards the production of fertilisers from animal by - products and waste recovery products and for the facilitation of internal market access and free movement for ce marked fertilising products .


### as of [ publications office , please insert the date occurring three years after the date of application of this regulation ] , the following criterion shall be complied with : the polymer shall be capable of undergoing physical , biological decomposition , such that most of it ultimately decomposes into carbon dioxide , biomass and water . it shall have at least 90 % of the organic carbon converted into co2 in maximum 24 months , in a biodegradability test as specified points - below . ### as of [ publications office , please insert the date occurring five years after the date of application of this regulation ] , the commission shall adopt delegated acts , pursuant to article 42 of this regulation , introducing a standard for the biodegradability by setting a timeframe in which at least 90% of the organic carbon is converted into co2 , after the claimed release time of the polymer has been fulfilled , and a biodegradability test that complies with the following criterion : the polymer is capable of undergoing physical , biological decomposition , such that most of it ultimately decomposes into carbon dioxide , biomass and water .


### by - products within the meaning of directive 2008 / 98 / ec , ### by - products within the meaning of directive 2008 / 98 / ec , except by - products registered pursuant to regulation 1907 / 2006 other than those covered by one of the registration obligation exemptions provided for by point 5 of annex v to that regulation ,


### forms for the declared nutrient and other declared quality criteria electric conductivity ph quantity by volume quantity determination of materials with particle size greater than 60 mm quantity determination of pre - shaped gm water - soluble nitrogen water - soluble phosphorus pentoxide water - soluble potassium oxide forms for the declared nutrient and other declared quality criteria electric conductivity ph quantity by volume quantity determination of materials with particle size greater than 60 mm quantity determination of pre - shaped gm water - soluble nitrogen water - soluble phosphorus pentoxide water - soluble potassium oxide ### permissible tolerances for the declared parameter ± 50% relative deviation at the time of manufacture ± 75% relative deviation at any time in the distribution chain ± 0 , 7 at the time of manufacture ± 1 , 0 at any time in the distribution chain - 5% relative deviation at the time of manufacture - 25% relative deviation at any time in the distribution chain - 5% relative deviation at the time of manufacture - 25% relative deviation at any time in the distribution chain - 5% relative deviation at the time of manufacture - 25% relative deviation at any time in the distribution chain ± 50% relative deviation at the time of manufacture ± 75% relative deviation at any time in the distribution chain ± 50% relative deviation at the time of manufacture ± 75% relative deviation at any time in the distribution chain ± 50% relative deviation at the time of manufacture ± 75% relative deviation at any time in the distribution chain permissible tolerances for the declared parameter ± 50% relative deviation at the time of manufacture ± 75% relative deviation at any time in the manufacturing chain ± 0 , 7 at the time of manufacture ± 1 , 0 at any time in the manufacturing chain - 5% relative deviation at the time of manufacture - 25% relative deviation at any time in the manufacturing chain - 5% relative deviation at the time of manufacture - 25% relative deviation at any time in the manufacturing chain - 5% relative deviation at the time of manufacture - 25% relative deviation at any time in the manufacturing chain ± 50% relative deviation at the time of manufacture ± 75% relative deviation at any time in the manufacturing chain ± 50% relative deviation at the time of manufacture ± 75% relative deviation at any time in the manufacturing chain ± 50% relative deviation at the time of manufacture ± 75% relative deviation at any time in the manufacturing chain


### a ce marked fertilising product that has undergone a recovery operation and complies with the requirements laid down in this regulation shall be considered to comply with the conditions laid down in article 6 of directive 2008 / 98 / ec and shall , therefore , be considered as having ceased to be waste . ### a material that has undergone a recovery operation and complies with the requirements laid down in this regulation shall be considered as a component material of a ce marked fertilising product that complies with the conditions laid down in article 6 of directive 2008 / 98 / ec and shall , therefore , be considered as having ceased to be waste .


### fertilising product blends , as specified in product function category 7 in annex i , containing a fertiliser referred to in point . ### combination of product function categories , as specified in product function category 7 in annex i , containing a fertiliser referred to in point .


### proposal for a regulation of the european parliament and of the council laying down rules on the making available on the market of ce marked fertilising products and amending regulations no 1069 / 2009 and no 1107 / 2009 ### proposal for a regulation of the european parliament and of the council laying down rules on the making available on the market of ce marked fertilizers and improving nutrition efficiency products and amending regulations no 1069 / 2009 and no 1107 / 2009 ' applies throughout the text . adopting it will necessitate corresponding changes throughout . )


### inorganic fertiliser ### mineral fertiliser


### - 1% by mass of total sodium oxide . ### - from 0 , 5% to 5% by mass of total sodium oxide .


### - 2 % by mass of total nitrogen , out of which 0 , 5 % by mass of the ce marked fertilising product shall be organic nitrogen , or ### - 1 % by mass of total nitrogen , out of which 0 , 5 % by mass of the ce marked fertilising product shall be organic nitrogen , or


### ± 25% of the declared content of the nutrient forms present up to a maximum of 2 percentage point in absolute terms ### ± 25% of the declared content of the nutrient forms present up to a maximum of 2 percentage point in absolute terms p2o5 tolerances refer to phosphorus pentoxide soluble in neutral ammonium citrate and water .


### where a ce marked fertilising product contains a substance or mixture within the meaning of regulation no 1907 / 2006 , the safety of its constituent substances for the intended use should be established through registration pursuant to that regulation . the information requirements should ensure that the safety of the intended use of the ce marked fertilising product is demonstrated in a manner comparable to that achieved through other regulatory regimes for products intended for use on arable soil or crops , notably member states’ national fertiliser legislation and regulation no 1107 / 2009 . therefore , where the actual quantities placed on the market are lower than 10 tonnes per company per year , the information requirements determined by regulation no 1907 / 2006 for the registration of substances in quantities of 10 to 100 tonnes should exceptionally apply as a condition for making available pursuant to this regulation . ### where a ce marked fertilising product contains a substance or mixture within the meaning of regulation no 1907 / 2006 , the safety of its constituent substances for the intended use should be established through registration pursuant to that regulation .


### the commission may make observations within three months of the date of submission of the programme by the member state . ### the commission may make observations within two months of the date of submission of the programme by the member state .


### the organisation and implementation of partnership shall be carried out in accordance with commission delegated regulation no 240 / 201438 . _________________ 38 commission delegated regulation no 240 / 2014 of 7 january 2014 on the european code of conduct on partnership in the framework of the european structural and investment funds . ### the organisation and implementation of partnership shall be carried out in accordance with reviewed commission delegated regulation , which is fully applied to thus regulation [ cpr ] laying down common provisions on the european regional development fund , the european social fund plus , the cohesion fund , and the european maritime and fisheries fund and financial rules for those and for the asylum and migration fund , the internal security fund and the border management and visa instrument .


### financial rules for the european regional development fund , the european social fund plus , the cohesion fund , , the european maritime and fisheries fund , the asylum and migration fund , the internal security fund and the border management and visa instrument ; ### financial rules for the european regional development fund , the european social fund plus , the cohesion fund , the european agricultural fund for rural development , the european maritime and fisheries fund , the asylum and migration fund , the internal security fund and the border management and visa instrument ;


### for erdf , esf + and cohesion fund programmes submitted in accordance with article 16 , the table referred to in paragraph shall include the amounts for the years 2021 to 2025 only . ### for erdf , esf + and cohesion fund programmes submitted in accordance with article 16 , the table referred to in paragraph shall include the amounts for the years 2021 to 2027 .


### 2023 : 0 . 5 % ; ### 2023 : 1 % ;


### 2026 : 0 . 5 ### 2026 : 2 %


### the scope and level of the suspension of commitments or payments to be imposed shall be proportionate , shall respect the equality of treatment between member states and shall take into account the economic and social circumstances of the member state concerned , in particular the level of unemployment , the level of poverty or social exclusion of the member state concerned in relation to the union average and the impact of the suspension on the economy of the member state concerned . the impact of suspensions on programmes of critical importance to address adverse economic or social conditions shall be a specific factor to be taken into account . ### the scope and level of the suspension of commitments or payments to be imposed shall be proportionate , shall respect the equality of treatment between member states and shall take into account the economic and social circumstances of the member state concerned , in particular the level of unemployment , the level of poverty or social exclusion of the member state concerned in relation to the union average and the impact of the suspension on the economy of the member state concerned . the impact of suspensions on programmes of critical importance to address adverse structural , economic or social conditions , such as those in the outermost regions , shall be a specific factor to be taken into account .


### the member state may transfer during the programming period an amount of up to 5 % of the initial allocation of a priority and no more than 3 % of the programme budget to another priority of the same fund of the same programme . for the programmes supported by the erdf and esf + , the transfer shall only concern allocations for the same category of region . ### the member state may reallocate an amount of up to 10 % of the allocation of a priority , which will be 12% for the outermost regions , and no more than 6 % of the programme budget to another priority of the same fund of the same programme . for the programmes supported by the erdf and esf + , the reallocation shall only concern allocations for the same category of region .


### the erdf and the esf + may finance , in a complementary manner and subject to a limit of 10 % of support from those funds for each priority of a programme , all or part of an operation for which the costs are eligible for support from the other fund on the basis of eligibility rules applied to that fund , provided that such costs are necessary for the implementation . ### the erdf and the esf + may finance , in a complementary manner and subject to a limit of 15 % of support from those funds for each priority of a programme , all or part of an operation for which the costs are eligible for support from the other fund on the basis of eligibility rules applied to that fund , provided that such costs are necessary for the implementation .


### 2025 : 0 . 5 % ; ### 2025 : 2 % ;


### objective criteria should be established for designating eligible regions and areas for support from the funds . to this end , the identification of the regions and areas at union level should be based on the common system of classification of the regions established by regulation no 1059 / 2003 of the european parliament and the council23 , as amended by commission regulation no 868 / 201424 . _________________ 23 regulation no 1059 / 2003 of the european parliament and of the council of 26 may 2003 on the establishment of a common classification of territorial units for statistics . 24 commission regulation no 868 / 2014 of 8 august 2014 amending the annexes to regulation no 1059 / 2003 of the european parliament and of the council on the establishment of a common classification of territorial units for statistics . ### objective criteria should be established for designating eligible regions and areas for support from the funds . to this end , the identification of the regions and areas at union level should be based on the common system of classification of the regions established by regulation no 1059 / 2003 of the european parliament and the council23 , as amended by the latest available list of nuts ii regions for which the necessary data can be provided by eurostat . _________________ 23 regulation no 1059 / 2003 of the european parliament and of the council of 26 may 2003 on the establishment of a common classification of territorial units for statistics .


### paragraphs 1 to 12 shall not apply to priorities or programmes under article [ 4 ] of esf + regulation . ### paragraphs 1 to 12 shall not apply to priorities or programmes under article [ 4 ] of the esf + regulation .


### the esf + regulation may establish higher co - financing rates for priorities supporting innovative actions in accordance with article [ 14 ] of that regulation . ### the esf + regulation may in duly justified cases establish higher co - financing rates , of up to 90% , for priorities supporting innovative actions in accordance with article [ 13 ] and article [ 4 ] and [ ] of that regulation .


### the number of selected operations , their total eligible cost , the contribution from the funds and the total eligible expenditure declared by the beneficiaries to the managing authority , all broken down by types of intervention ; ### in the data transmissions due by 31 january , 31 march , 31 may , 31 july , 30 september and 30 november of each year , the number of selected operations , their total eligible cost , the contribution from the funds and the total eligible expenditure declared by the beneficiaries to the managing authority , all broken down by types of intervention ;


### the commission shall adopt a decision by means of an implementing act approving the partnership agreement no later than four months after the date of submission of that partnership agreement by the member state concerned . the partnership agreement shall not be amended . ### the commission shall adopt a decision by means of an implementing act approving the partnership agreement no later than three months after the date of submission of that partnership agreement by the member state concerned . the partnership agreement may be amended where appropriate and at least following the mid - term review .


### the member state shall establish a performance framework which shall allow monitoring , reporting on and evaluating programme performance during its implementation , and contribute to measuring the overall performance of the funds . ### the member state , in close cooperation with the territorial level administering the programmes and by fully respecting the code of conduct of partnership and multi - level governance , shall establish a performance framework which shall allow monitoring , reporting on and evaluating programme performance during its implementation , and contribute to measuring the overall performance of the funds .


### the resources for economic , social and territorial cohesion available for budgetary commitment for the period 2021 - 2027 shall be eur 330 624 388 630 in 2018 prices . ### the resources for economic , social and territorial cohesion available for budgetary commitment for the period 2021 - 2027 shall be eur 378 097 000 000 in 2018 prices .


### the commission shall adopt a decision by means of an implementing act approving the programme no later than six months after the date of submission of the programme by the member state . ### the commission shall adopt a decision by means of an implementing act approving the programme no later than three months after the date of submission of the programme by the member state .


### the co - financing rate for the cohesion fund at the level of each priority shall not be higher than 70 % . ### the co - financing rate for the cohesion fund at the level of each priority shall not be higher than 85 % .


### the commission shall keep the european parliament informed of the implementation of this article . in particular , the commission shall , when one of the conditions set out in paragraph 7 is fulfilled for a member state , immediately inform the european parliament and provide details of the funds and programmes which could be subject to a suspension of commitments . ### the commission shall keep the european parliament informed of the implementation of this article . in particular , the commission shall , when one of the conditions set out in paragraph 7 is fulfilled for a member state , immediately inform the european parliament and provide reasons for its proposal and details of the funds and programmes which could be subject to a suspension of commitments , as well as the expected impact of that suspension on the member state ' s economy , for the purposes of structured dialogue to ensure a meaningful debate and facilitate a transparent enforcement process . the commission shall inform the european parliament before it makes a proposal on suspension of commitments .


### the commission shall assess the programme and its compliance with this regulation and with the fund - specific regulations , as well as its consistency with the partnership agreement . in its assessment , the commission shall , in particular , take into account relevant country - specific recommendations . ### the commission shall assess the compliance of the programme with the investment needs at national , regional and local level , its compliance with this regulation and with the fund - specific regulations , as well as its consistency with the investment strategy and the simplification measures proposed . in its assessment , the commission shall also take into account relevant country - specific recommendations .


### member states shall ensure that all exchanges of information between beneficiaries and the programme authorities are carried out by means of electronic data exchange systems in accordance with annex xii . ### member states shall ensure that all exchanges of information between beneficiaries and the programme authorities can be carried out by means of electronic data exchange systems in accordance with annex xii .


### 2022 : 0 . 5 % ; ### 2022 : 0 , 7 % ;


### the percentage of the funds reimbursed for technical assistance shall be the following : ### on the basis of the financing plan in the operational programme , the percentage of the funds reimbursed for technical assistance may be set at up to :


### 40 % for the more developed regions . ### 50 % for the more developed regions .


### the selected policy objectives indicating by which of the funds and programmes they will be pursued and a justification thereto , and where relevant , a justification for using the delivery mode of the investeu , taking into account relevant country - specific recommendations ; ### the selected policy objectives indicating by which of the funds and programmes they will be pursued and a justification thereto , taking into account relevant country - specific recommendations ;


### the member state shall review the programme taking into account the observations made by the commission . ### the member state shall review the programme in case the commission has made observations and shall take these observations into account .


### the commission shall approve the amendment of a programme no later than six months after its submission by the member state . ### the commission shall approve the amendment of a programme as soon as possible but no later than three months after its submission by the member state .


### the commission shall assess the partnership agreement and its compliance with this regulation and with the fund - specific rules . in its assessment , the commission shall , in particular , take into account relevant country - specific recommendations . ### the commission shall assess the partnership agreement and its compliance with this regulation and with the fund - specific rules . in its assessment , the commission shall , in particular , take into account relevant country - specific recommendations and their regional dimension ;


### where the commission considers that an enabling condition is no longer fulfilled , it shall inform the member state and give it the opportunity to present its observations within one month . where the commission concludes that the non - fulfilment of the enabling condition persists , expenditure related to the specific objective concerned cannot be included in payment applications as from the date the commission informs the member state accordingly . ### where the commission considers that an enabling condition is no longer fulfilled , it shall inform the member state and give it the opportunity to present its observations within one month . where the commission concludes that the non - fulfilment of the enabling condition persists , expenditure related to the specific objective concerned or , for the eafrd , linked to the intervention concerned , cannot be included in payment applications as from the date the commission informs the member state accordingly .


### the amount of additional funding for the outermost regions referred to in point in paragraph 1 allocated to the esf + shall be eur 376 928 934 . ### the amount of additional funding for the outermost regions provided under the esf + shall be eur 424 296 056 .


### however , the commission shall implement the amount of support from the cohesion fund transferred to the connecting europe facility , the european urban initiative , interregional innovative investments , the amount of support transferred from the esf + to transnational cooperation , the amounts contributed to investeu37 and technical assistance at the initiative of the commission under direct or indirect management in accordance with [ points and of article 62 ] of the financial regulation . __________________ 37 [ regulation no [ … ] on [ … ] ] . ### however , the commission shall implement the european urban initiative , interregional innovative investments , the amount of support transferred from the esf + to transnational cooperation , and technical assistance at the initiative of the commission under direct or indirect management in accordance with [ points and of article 62 ] of the financial regulation .


### the esf + regulation may establish higher co - financing rates for priorities supporting innovative actions in accordance with article [ 14 ] of that regulation . ### the esf + regulation may in duly justified cases establish higher co - financing rates , of up to 90 % , for priorities supporting innovative actions in accordance with article [ 14 ] of that regulation .


### in order to further develop a coordinated and harmonised implementation of union funds implemented under shared management namely the european regional development fund , the european social fund plus , the cohesion fund , measures financed under shared management in the european maritime and fisheries fund , the asylum and migration fund , internal security fund and integrated border management fund , financial rules based on article 322 of the tfeu should be established for all these funds , clearly specifying the scope of application of the relevant provisions . in addition , common provisions based on article 177 of the tfeu should be established to cover policy specific rules for the erdf , the esf + , the cohesion fund and the emff . ### in order to further develop a coordinated and harmonised implementation of union funds implemented under shared management namely the european regional development fund , the european social fund plus , the cohesion fund , the european agricultural fund for rural development , measures financed under shared management in the european maritime and fisheries fund , the asylum and migration fund , internal security fund and integrated border management fund , financial rules based on article 322 of the tfeu should be established for all these funds , clearly specifying the scope of application of the relevant provisions . in addition , common provisions based on article 177 of the tfeu should be established to cover policy specific rules for the erdf , the esf + , the cohesion fund , the eafrd and the emff .


### horizontal principles as set out in article 3 of the treaty on the european union and in article 10 of the tfeu , including principles of subsidiarity and proportionality as set out in article 5 of the teu should be respected in the implementation of the funds , taking into account the charter of fundamental rights of the european union . member states should also respect the obligations of the un convention on the rights of persons with disabilities and ensure accessibility in line with its article 9 and in accordance with the union law harmonising accessibility requirements for products and services . member states and the commission should aim at eliminating inequalities and at promoting equality between men and women and integrating the gender perspective , as well as at combating discrimination based on sex , racial or ethnic origin , religion or belief , disability , age or sexual orientation . the funds should not support actions that contribute to any form of segregation . the objectives of the funds should be pursued in the framework of sustainable development and the union ' s promotion of the aim of preserving , protecting and improving the quality of the environment as set out in article 11 and article 191 of the tfeu , taking into account the polluter pays principle . in order to protect the integrity of the internal market , operations benefitting undertakings shall comply with union state aid rules as set out in articles 107 and 108 of the tfeu . ### horizontal principles and values as set out in article 3 of the treaty on the european union and in article 10 of the tfeu , including principles of subsidiarity and proportionality as set out in article 5 of the teu should be respected in the implementation of the funds , taking into account the charter of fundamental rights of the european union . member states should also respect the obligations of the un convention on the rights of persons with disabilities and ensure accessibility in line with its article 9 and in accordance with the union law harmonising accessibility requirements for products and services . operations financed by the funds should contribute to eliminating inequalities , to promoting equality between men and women , as well as at combating discrimination based on any ground , including sex , racial or ethnic origin , colour or social origin , genetic features , religion or belief , political or any other opinion , membership of a national minority , property , birth , disability , age or sexual orientation . the funds should not support actions that contribute to any form of segregation or social exclusion . the objectives of the funds should be pursued in the framework of sustainable development and the union ' s promotion of the aim of preserving , protecting and improving the quality of the environment and combating climate change as set out in article 11 and article 191 of the tfeu , taking into account the polluter pays principle . in order to protect the integrity of the internal market , operations benefitting undertakings shall comply with union state aid rules as set out in articles 107 and 108 of the tfeu . to achieve a better and more sustainable future for all , it is necessary to target support of the funds towards the principles set out in the european pillar of social rights and the sustainable development goals set out in the 2030 united nations agenda , to which the union and its member states have committed . the funds should furthermore contribute to the eradication of poverty in the union . when implementing the funds , member states should ensure consistency , coherence and synergies with the aforementioned principles and targets , taking into account local and regional challenges .


### a smarter europe by promoting innovative and smart economic transformation ; ### a smarter europe by promoting innovative and smart economic transformation and strengthening small and medium - sized enterprises ;


### in accordance with the multi - level governance principle , the member state shall involve those partners in the preparation of partnership agreements and throughout the preparation and implementation of programmes including through participation in monitoring committees in accordance with article 34 . ### in accordance with the multi - level governance principle , the member state shall involve those partners in the preparation of partnership agreements and throughout the preparation , implementation and evaluation of programmes including through participation in monitoring committees in accordance with article 34 .


### the member state may transfer during the programming period an amount of up to 5 % of the initial allocation of a priority and no more than 3 % of the programme budget to another priority of the same fund of the same programme . for the programmes supported by the erdf and esf + , the transfer shall only concern allocations for the same category of region . ### the member state may transfer during the programming period an amount of up to 7 % of the initial allocation of a priority and no more than 5 % of the programme budget to another priority of the same fund of the same programme . for the programmes supported by the erdf and esf + , the transfer shall only concern allocations for the same category of region .


### for the amif , the isf and the bmvi support : 6 % . ### for the amif , the isf and the bmvi support : 7 % .


### the member state should carry out a mid - term review of each programme supported by the erdf , the esf + and the cohesion fund . that review should provide a fully - fledged adjustment of programmes based on programme performance , while also providing an opportunity to take account of new challenges and relevant csrs issued in 2024 . in parallel , in 2024 the commission should , together with the technical adjustment for the year 2025 , review all member states ' total allocations under the investment for jobs and growth goal of cohesion policy for the years 2025 , 2026 and 2027 , applying the allocation method set out in the relevant basic act . that review together with the outcome of the mid - term review should result in programme amendments modifying the financial allocations for the years 2025 , 2026 and 2027 . ### the member state should carry out a mid - term review of each programme supported by the erdf , the esf + and the cohesion fund . that review should provide a fully - fledged adjustment of programmes based on programme performance , while also providing an opportunity to take account of new challenges .