Emma RadmoreEIOPA has published draft technical advice to the Commission on the integration of sustainability risks and factors in delegated acts under Solvency II and IDD.
The proposed amendments include the addition (in the Solvency II Delegated Act) of a responsibility for identifying and assessing emerging sustainability risks to the risk management function, and including any interest by the customer in attaining environmental, social and governance objectives when identifying the types of conflicts of interest that arise in the course of carrying out any insurance distribution activities related to insurance based investment products.
The consultation is open until 30 January 2019, and EIOPA anticipates submitting advice to the Commission by the end of April 2019.