The session aims at clarifying the challenges posed by such an unprecedented type of risk and identifying subsequently the strengths and weaknesses of the tools and approaches proposed by policy makers in the EU insurance sector.
Finally, the session will try to outline the factors and policy priorities favouring not only an effective climate and sustainability risk reduction in the insurance sector, but also enabling a swift enough transition by insurance including regarding the supply of sustainability related products, while notably avoiding possible unnecessary legal and reputational threats.
Points of discussion
- What is the level of sustainability risk observed in the EU insurance sector?
- What has been achieved in the insurance sector to embed sustainability in internal processes? What are the main risk-mitigation approaches available and the climate-related data challenges faced?
- What is the role of insurance undertakings on a swift sustainability transition of the EU? How to achieve an effective reputational and political stability for financial institutions?