Tag: sustainability

Sustainability amendments to Solvency II and the IDD published in the Official Journal of the EU

Various amendments to the Solvency II Delegated Regulation ((EU) 2015/35) and to the Insurance Distribution Directive Delegated Regulations ((EU) 2017/2358 and (EU) 2017/2359) have been published in the Official Journal of the European Union so that sustainability requirements can be introduced into the Solvency II and the insurance distribution regimes in the European Union. The … Continue Reading

European Commission adopts delegated regulations that amend existing regulations to introduce greater sustainability requirements into Solvency II, MiFID and the IDD

The European Commission has adopted a series of delegated regulations that help to drive investors towards more sustainable economic activities. The measures are part of the European Green Deal. The adopted delegated regulations are part of a suite of sustainability measures adopted at the same time including the EU Taxonomy Climate Delegated Act and the … Continue Reading

EIOPA publishes opinion on the supervision of the use of climate change risk scenarios in the ORSA

The European Insurance and Occupational Pensions Authority (EIOPA) has published an opinion on the use of climate change risk scenarios in insurance undertakings’ Own Risk and Solvency Assessment (ORSA). The opinion has been written to help supervisory authorities understand EIOPA’s expectations in terms of climate risk scenarios included in the ORSA. Solvency II requires that … Continue Reading

The Paris Agreement: Moving from climate conscious to climate compliance

This blog post was co-authored by Phoebe Saintilan The ‘Paris Agreement’ was adopted on 12 December 2015 at the COP 21 UN Climate Change Conference (Conference). It may potentially herald the end of the fossil fuel era and a global move towards a low carbon future and renewable energy. This will undoubtedly influence the decisions … Continue Reading