In view of the trialogue discussions between the EU institutions, Insurance Europe has published a set of key messages regarding the establishment of the European Single Access Point (ESAP).
The European insurance industry strongly supports the establishment of the ESAP as an EU data hub, as it has the potential to play a key role in helping to close the current data gap, in particular regarding sustainability information.
The ESAP would allow insurers, Europe’s largest institutional investors, to access robust, comparable and reliable financial and environmental, social and governance data in an electronic, and machine-readable format. This will help insurers to steer their investment portfolios more effectively towards sustainability objectives and to comply with their regulatory disclosure requirements.
To ensure the successful development and operation of the ESAP, and its successful uptake, the platform must be well functioning, reliable and user-friendly. Insurance Europe has highlighted the need for strong governance, adequate funding, ESG data to be made available as quickly as possible, and an appropriate scope for the ESAP.