Following the release of the European Commission’s 2025 work plan, ShareAction and 21 organisations and experts sent a letter to Commissioner for Financial Services Maria Luís Albuquerque, urging immediate action to raise capital requirements for fossil fuel assets.

In a report published on 7 November 2024, and endorsed by the 27 national insurance supervisors, the European Insurance and Occupational Pensions Authority (EIOPA) confirmed that stocks and bonds linked to unsustainable activities—particularly fossil fuels—pose higher financial risks. EIOPA recommended that the Commission act to address these risks and safeguard financial stability.

Yet, the Commission’s work plan fails to include any initiative on this issue, despite its critical role in protecting both the financial system and public trust in insurers to manage future risks.