Public hearing on the Review of the Insurance Disclosures under article 8 of the Taxonomy Regulation

EIOPA would like to invite you to the online Public hearing on the Review of the Insurance Disclosures under article 8 of the Taxonomy Regulation which will take place on 16 July from 09h00 – 12h30 CEST. 

During this online half-a-day public event, stakeholders will have the opportunity to prepare for the consultation process and better understand the proposals as well as ask questions they may have in relation to EIOPA’s proposals to review of the Insurance Disclosures under the Taxonomy Disclosures Delegated Act, including the proposed amendments, their objectives, and their implications for the insurance sector. 

The European Commission has invited the European Supervisory Authorities (EBA, EIOPA and ESMA) to provide technical advice on targeted amendments to the EU Taxonomy disclosure framework. In EIOPA's area, the request focuses ore-insurancen the existing Taxonomy underwriting KPI for insurance and reinsurance undertakings, including whether it remains useful, and on improving consistency of disclosures with other financial sectors by a new KPI measuring the Taxonomy-alignment of insured activities. The Commission has also asked the ESAs to identify possible targeted simplifications and technical improvements to enhance the usability of Taxonomy reporting while preserving transparency on sustainable activities and supporting the prevention of greenwashing. 

EIOPA intends to publish a Consultation Paper in the first week of July, addressing the Commission’s requests regarding (re)insurance undertakings’ Taxonomy-related disclosures on underwriting, as well as in coordination with ESMA and EBA, on improvements to the disclosures for financial conglomerates and other groups and the voluntary use OpEx for the Investment KPI.