The European Insurance and Occupational Pensions Authority (EIOPA), the European Union’s insurance and pension-focused financial regulator, announced the release of Sustainable Finance Activities 2022-2024, its 3-year plan aimed at ensuring the integration of sustainability risks into the risk management practices of insurers, re-insurers and occupational pension funds.
Unveiled at EIOPA’s sustainable finance roundtable event this week, the plan outlines the regulator’s priority focus areas, including identifying and addressing protection gaps, integrating sustainability across prudential insurance and pension frameworks and increasing reporting requirements on sustainability risks. While the activities outlined in the report primarily emphasize climate-related initiatives, the regulator said that other environmentalEnvironmental criteria consider how a company performs as a steward of nature. More, socialSocial criteria examine how it manages relationships with employees, suppliers, customers, and the communities where it operates. More and governanceGovernance deals with a company’s leadership, executive pay, audits, internal controls, and shareholder rights. More risks will deserve enhanced attention, and the plan indicates that increased consideration will to socialSocial criteria examine how it manages relationships with employees, suppliers, customers, and the communities where it operates. More aspects.
According to EIOPA, the plan’s activities reflect the need for global action in order to enable the transition to a more sustainable economy.
Speaking at the roundtable event, Petra Hielkema, Chair of EIOPA, said:
“These days there are very few of us who have not been touched by the effects of climate change in the recent past – and unfortunately, some more severely than others. We see at close hand the impact that climate change has on human, socialSocial criteria examine how it manages relationships with employees, suppliers, customers, and the communities where it operates. More and economic life.
“And I think all of us at today’s roundtable recognise the importance that the insurance and pensions sectors can play in strengthening our response as a society and fostering resilience.”
Some of the key planned activities outlined in the report include promoting sustainability disclosures and a sustainable conduct of business framework following guidance under SFDR and EU Taxonomy regulations, providing guidance on the supervision of ESGEnvironmental, social, and governance (ESG) criteria are a set of standards for a company’s operations that socially conscious investors use to screen potential investments. More conduct risks such as including greenwashing, and promoting open source modelling and data in relation to climate change risks such as the modelling for natural catastrophes.
Hielkema said:
“When we talk about ESGEnvironmental, social, and governance (ESG) criteria are a set of standards for a company’s operations that socially conscious investors use to screen potential investments. More – which we do a lot – there are three words: EnvironmentalEnvironmental criteria consider how a company performs as a steward of nature. More, socialSocial criteria examine how it manages relationships with employees, suppliers, customers, and the communities where it operates. More and governanceGovernance deals with a company’s leadership, executive pay, audits, internal controls, and shareholder rights. More. It’s time to give attention to the S in ESGEnvironmental, social, and governance (ESG) criteria are a set of standards for a company’s operations that socially conscious investors use to screen potential investments. More. We need to give more consideration to the socialSocial criteria examine how it manages relationships with employees, suppliers, customers, and the communities where it operates. More aspects of sustainable finance.
“Of course there is much less available data for the socialSocial criteria examine how it manages relationships with employees, suppliers, customers, and the communities where it operates. More side than environmentalEnvironmental criteria consider how a company performs as a steward of nature. More, but that does not mean it is less relevant. Because eventually, socialSocial criteria examine how it manages relationships with employees, suppliers, customers, and the communities where it operates. More issues will become prudential issues.”
Click here to access EIOPA’s Sustainable Finance Activities 2022-2024.
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