{
    "ucits": true,
    "type": "ETF",
    "leverage": false,
    "derivatives": false,
    "swaps": false,
    "inverse": false,
    "replication_method": "physical",
    "complex_factors": "None",
    "classification": "non-complex",
    "supporting_data": "The iShares MSCI World Paris-Aligned Climate UCITS ETF is a UCITS-compliant, physically replicated ETF that tracks a transparent, well-documented equity index. It primarily invests in the underlying securities of the index, with derivatives used only for efficient portfolio management (EPM) and not as a core part of the investment strategy. The ETF does not use synthetic replication, swaps, leverage beyond UCITS limits, or complex structured products. Securities lending is present but is a secondary feature, well-managed within UCITS rules, and does not dominate the risk profile. The structure, risks, and investment objective are straightforward and can be understood by retail investors with basic knowledge. There are no embedded derivatives, contingent convertible bonds, or other features that would introduce complexity under MiFID II Article 57. Therefore, the ETF meets all criteria for non-complex classification under MiFID II, consistent with the presumption that UCITS ETFs are non-complex unless specific complex features are present[1]."
}