European Insurers Back Plans To Update Climate Disclosures

Law360, London (July 22, 2021, 3:37 PM BST) -- A trade group representing insurance businesses across Europe said on Thursday that it backs proposed updates to recommendations on disclosing climate change information to investors and the public, but urged regulatory coordination and controls on the costs of complying.

Climate-related disclosures by businesses in all sectors would help insurers' investments, and increased transparency on sustainability is welcome, Insurance Europe said. But this should be weighed against the costs to firms in the sector of following the guidance.

A careful balance "should be struck between transparency and the reporting costs for companies to avoid creating an additional layer of reporting with potentially...

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