EIOPA publishes its consultation on the integration of sustainability risks and factors

The European Insurance and Occupational Pensions Authority (EIOPA) has just published for consultation its draft technical advice on possible amendments to the delegated acts under Solvency II and the Insurance Distribution Directive (IDD) concerning the integration of sustainability risks and factors.
These amendments have been requested by the European Commission, on 1 August 2018, with the main purpose of guaranteeing a widespread identification, disclosure and integration of sustainability risks, especially within the investments sector.
Insurance undertakings shall take into account the potential long-term impact of investment decisions on sustainability factors (stewardship principle) and where relevant reflect policyholders’ Environmental, Social and Governance (ESG) preferences.
Now is your turn! EIOPA is seeking stakeholders comments on the draft technical advice developed on the basis of the following three principles:
  • Coherence with current requirements
  • Proportionality
  • Cross-sectoral consistency
All the stakeholders which are willing to give their inputs, can do so by Wednesday, 30 January 2019 responding to the survey questions.

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