Regulation (EU) 2016/1011 is amended as follows:
(1) in Article 3(1), the following points are inserted:
‘(23a) "EU Climate Transition Benchmark" means a benchmark which is labelled as an EU Climate Transition Benchmark and fulfils the following requirements:
(a) for the purposes of point 1(b) (ii) of this paragraph and of Article 19b, its underlying assets are selected, weighted or excluded in such a manner that the resulting benchmark portfolio is on a decarbonisation trajectory; and
(b) it is constructed in accordance with the minimum standards laid down in the delegated acts referred to in Article 19a(2);
(23b) "EU Paris-aligned Benchmark" means a benchmark which is labelled as an EU Paris-aligned Benchmark and fulfils the following requirements:
(a) for the purposes of point 1(b) (ii) of this paragraph and of the delegated act referred to in Article 19c, its underlying assets are selected, weighted or excluded in such a manner that the resulting benchmark portfolio’s carbon em
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