Regulatory Alerts2024-01-18
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EIOPA Seeks Feedback on Proposed Approach to Tackle Greenwashing in Insurance and Occupational Pensions
The European Insurance and Occupational Pensions Authority (EIOPA) launched a public consultation on a draft Opinion regarding sustainability claims and greenwashing in the insurance and occupational pension sectors. The draft sets out four principles requiring that sustainability claims be accurate, up-to-date, substantiated with facts, and accessible to stakeholders, accompanied by examples of good and bad practices. National Competent Authorities are proposed to monitor provider adherence, evaluate claims, ensure regulatory compliance, and examine sustainability-related terms in product names. EIOPA invites comments on the consultation paper by 12 March 2024 to inform the revision of the Opinion.