Insurance Europe has published its response to a consultation conducted by the European Commission on its proposals for the Corporate Sustainability Reporting Directive (CSRD).
Insurance Europe is very supportive of the CSRD initiative. As Europe’s largest institutional investor with €10 trillion of assets under management, it is vital that consistent, comparable and machine-readable sustainability data is available, so that insurers can make appropriate investment decisions and comply with European regulatory disclosure requirements, such as the Sustainable Finance Disclosures Regulation and the Taxonomy.
The CSRD will therefore play a vital role in ensuring that consistent and comparable sustainability data is available and, together with the European Single Access Point initiative, can ensure that this data can be accessed and used efficiently.
At the same time, some important clarifications and refinements are needed, which are outlined in the response.