EIOPA seeks evidence on integration of sustainability risks in Solvency II

• ​Market participants to provide evidence on the integration of sustainability risks in investment and underwriting practices
• Call for Evidence part of EIOPA’s action plan on sustainable finance 

The European Insurance and Occupational Pensions Authority (EIOPA) today issued a Call for Evidence to collect information from market participants on the integration of sustainability risks and factors in the prudential assessment of assets and liabilities for insurers and (re)insurers.

In its call for Opinion, the European Commission asked EIOPA to assess whether Solvency II presents any inherent incentives and/or disincentives to sustainable investment.

With this Call for Evidence EIOPA will analyse how sustainability risks affect (re)insurers’ investments, with particular focus on climate change and collect market practices on insurance underwriting.

To support EIOPA’s analysis, National Competent Authorities will collect information from individual undertakings within their jurisdiction.

Based on the collected evidence and analysis EIOPA will prepare the draft Opinion for consultation during the second half of 2019 for submission to the European Commission in Q3/2019.

The deadline for submission to this Call for Evidence is Friday, 8 March 2019 at 23:59 hrs. Submissions received after this deadline will not be considered.

Further details about EIOPA’s Action Plan can be obtained via this link to its Website.