Article 3 · Commission Delegated Regulation (EU) 2026/872

Contents

Article 3Specific, additional measures to be taken by ESG rating providers that provide, or intent to provide, activities as referred to in Article 16(3), point (c), of Regulation (EU) 2024/3005#

ESG rating providers authorised in accordance with Article 16(3) of Regulation (EU) 2024/3005 by the European Securities and Markets Authority to provide benchmarks shall implement, in addition to the measures and safeguards laid down in Article 2, all of the following:

(a)measures to ensure that the compensation and performance evaluation arrangements applicable to employees and other persons directly involved in the assessment process of a rated item are not affected by actual or potential conflicts of interest originating from the ESG rating provider’s involvement in the activity of benchmarks provision;

(b)arrangements to ensure that the production and offering of ESG ratings do not rely on a mechanistic use of the constituents or output of a benchmark for which the ESG rating provider is the administrator;

(c)a documented assessment of any actual or potential conflicts of interest before the ESG rating provider enters into a contract for the provision of services to:

(i)a rated item;

(ii)an issuer of a rated item;

(iii)an investor which has an established client relationship with the ESG rating provider or, where applicable, with a member of its group.