Insurance Europe comments to the EIOPA opinion on sustainability within Solvency II

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      <subfield code="a">The European insurance industry supports the transition to a more sustainable economy and is committed to integrating sustainability further into its business model. Current examples of sustainable practices by insurers include: prevention and adaptation, loss protection/compensation and long-term sustainable financing of the economy by increasingly investing in sustainable assets. The current Solvency II framework is not a barrier to the integration of sustainability. In particular, sustainability risks are incorporated into the current Solvency framework, through an undertaking's risk management, governance and the own risk and solvency assessment (ORSA). In this context, it is key to highlight that Solvency II should focus primarily on sustainability risks that are relevant for their economic and financial standing.</subfield>
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