Factsheets

The European Financial Reporting Advisory Group (“EFRAG”) submitted to the European Commission its technical advice on the first set (“set 1”) of draft European Sustainability Reporting Standards (“ESRSs”) on the 22 November 2022. This included 2 “cross cutting” ESRSs (General Requirements and General Disclosures) and 10 “topical” standards across Environmental, Social and Governance topics.

Why the ECB and EIOPA Are Exploring Actions to Reduce the Climate Insurance Protection Gap

Following stakeholder consultation, the Central Bank of Ireland (CBI) has published ‘Guidance for (Re)Insurance Undertakings on Climate Change Risk’. The following are the key areas outlined for re(insurers) to integrate climate change risk: Appropriate Governance, Materiality Assessment, Scenario Analysis, Strategy & Business Model, Risk Appetite & Risk Management and Reporting.

The Corporate Sustainability Reporting Directive (“CSRD”) introduces detailed reporting requirements on companies’ impact on the environment, human rights and social standards.