EIOPA publishes guidance on climate change in ORSA
  • Tuesday, 13 September 2022

EIOPA publishes guidance on climate change in ORSA

In addition, EIOPA has published the final version of the application guidance on climate change materiality assessments and climate change scenarios in the Own Risk and Solvency Assessment (ORSA). Since EIOPA believes that undertakings will be impacted by climate-change related physical and transition risks, EIOPA encourages a more forward-looking management of these risks.

Currently, undertakings performing a quantitative analysis of climate change risk mostly take a short-term perspective. Furthermore, only a small part of undertakings uses scenario analysis in the ORSA.