ShareAction welcomes EIOPA’s proposal for Regulatory Technical Standards on sustainability risk plans for insurers, which will help insurers better assess and mitigate sustainability-related financial risks.

In our consultation response, we support EIOPA’s clarification of transition planning under EU legislation and its integration of double materiality in risk management.

However, we urge EIOPA to take a truly long-term view of sustainability risks and warn against the Omnibus simplification package, which could weaken disclosure requirements and their link to emission reduction plans.