EIOPA joins the Sustainable Insurance Forum

The European Insurance and Occupational Pensions Authority (EIOPA) has announced that it has become a member of the Sustainable Insurance Forum (SIF).

The SIF is a network of insurance supervisors and regulators from around the world working together on sustainability challenges facing the insurance sector.

In July 2018, the SIF, together with the International Association of Insurance Supervisors (IAIS), called on the insurance sector to enhance awareness and intensify climate risk scrutiny in a new issues paper on climate change risks.

EIOPA said that it welcomes the case studies regarding supervisory practices. It will also provide input from a European perspective on taxonomy, fiduciary duty, governance, Own Risk and Solvency Assessment as well as disclosure in EIOPA’s Sustainable Action Plan, which it plans to release in autumn this year.