European Green Deal

The new implementing measures of the European GreenDeal for the insurance sector were published in the Official Journal of the European Union of 2 August 2021. The measures modify the SolvencyII, IDD and POG regulations regarding the integration of sustainability factors, sustainability risks and sustainability preferences.

In particular, the publication concerns the following measures:

Commission Delegated Regulation (EU) 2021/1253 of 21 April 2021 amending Delegated Regulation (EU) 2017/565 as regards the integration of sustainability factors, sustainability risks and sustainability preferences in certain organizational requirements and conditions of exercise of the activities of investment firms;
Commission Delegated Regulation (EU) 2021/1255 of 21 April 2021 amending Delegated Regulation (EU) no. 231/2013 as regards the sustainability risks and the sustainability factors that the managers of alternative investment funds must take into account;
Commission Delegated Regulation (EU) 2021/1256 of 21 April 2021 amending the Delegated Regulation (EU) 2015/35 regarding the integration of sustainability risks in the governance of insurance and reinsurance companies;
Commission Delegated Regulation (EU) 2021/1257 of 21 April 2021 amending delegated regulations (EU) 2017/2358 and (EU) 2017/2359 regarding the integration of sustainability factors, sustainability risks and preferences sustainability in product control and governance requirements for insurance companies and distributors of insurance products and in the rules of conduct and investment advice for insurance investment products;
Commission delegated directive (EU) 2021/1269 of 21 April 2021 amending the delegated directive (EU) 2017/593 regarding the integration of sustainability factors in product governance obligations;
Commission Delegated Directive (EU) 2021/1270 of 21 April 2021 amending Directive 2010/43 / EU as regards sustainability risks and sustainability factors to be taken into account for undertakings for collective investment in transferable securities (UCITS ).

The measures have a transposition or application deadline on 2 August 2022, apart from the Delegate Directive (EU) 2021/1269 whose transposition deadline has been set for 22 November 2022.