Share Action

Joint Statement

Joint open letter on the prudential treatment of sustainability risks

Share:

Together with other 19 consumer and civil society organisations, ShareAction is calling on the Board of Supervisors of the European Insurance and Occupational Pensions Authority (EIOPA) to make the right decision in their upcoming vote on 25 September. ShareAction previously welcomed EIOPA's assessment that fossil fuel-related stocks and bonds carry higher risk levels compared to other economic activities. As such, they require a differentiated prudential treatment in the form of higher capital requirements. It is now up to the Board of Supervisors to endorse this assessment and vote to turn it into a formal recommendation for the new European Commission to act upon.