Public statement on the monitoring exercise on the use of climate change scenarios in the ORSA

EIOPA) has issued a public statement on the findings of a monitoring exercise exploring how (re)insurers in Europe are integrating climate change-related risks in their Own Risk and Solvency Assessment (ORSA). The exercise follows EIOPA’s 2021 Opinion on the supervision of climate change risk scenarios in ORSA, as well as a related application guidance aimed at establishing consistent practices.