Consultation on the Prudential Treatment of Sustainability Risks

The European Insurance and Occupational Pensions Authority (EIOPA) has launched today a consultation on the prudential treatment of sustainability risks. The consultation paper represents the second phase in EIOPA’s step-by-step approach concerning the expected mandate under the Solvency II Directive, which requires EIOPA to assess whether a dedicated prudential treatment of assets or activities associated substantially with environmental or social objectives, or harm to such objectives, would be justified.