News

EIOPA launches consultation on opinion on sustainability within Solvency II
03/06/2019 15:00

The European Insurance and Occupational Pensions Authority (EIOPA) launched today a consultation on a draft opinion on sustainability within Solvency II. The draft opinion forms part of EIOPA's strategic activities on sustainable finance and follows a call for opinion from the European Commission. The consultation runs until Friday, 26 July 2019.

The draft opinion aims at integrating sustainability risks, in particular those related to climate change, in the investment and underwriting practices of (re)insurers. The opinion addresses the valuation of assets and liabilities, assesses current investment and underwriting practices and seeks to contribute to the integration of sustainability risks in market risks and natural catastrophe underwriting risks for the solvency capital requirements for standard formula and internal model users.

The draft opinion builds on EIOPA's Technical Advice on the integration of sustainability risks and factors in the delegated acts under the Solvency II Directive and the Insurance Distribution Directive.

 

Consultation process

For responding to this consultation please use the following link.

Please note that the deadline for the submission of comments is Friday, 26 July 2019 at 23.59 hrs CET.

All contributions received will be published following the close of the consultation, unless requested otherwise.

 

Legal basis

The draft opinion has been developed on the basis of Article 34(1) of Regulation (EU) No 1094/2010.