European Insurers Push For Balanced Climate Change Rules

Law360, London (February 10, 2021, 4:59 PM GMT) -- European Union insurers said on Wednesday that the bloc should tread carefully in introducing new governance rules linked to creating a sustainable climate, stressing the need to ensure businesses are not overwhelmed with regulation.

Insurance Europe said it supports the European Commission's plan to implement new rules requiring companies to take into account the long-term environmental impact when they making decisions about corporate governance.

But the trade body for the sector claimed that the insurance industry already makes a considerable contribution to the fight against climate change. New rules should focus on sectors that are not pulling their weight, it said....

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