The European Investment Bank (EIB) has announced that it will now publish its environmental and social assessments for projects outside the EU, which significantly impact the environment. This decision comes in response to prior concerns and inquiries, notably regarding a project in Nairobi, Kenya, where access to such assessments was previously denied until after financing decisions were made and highlights a commitment to increased transparency and accountability, ensuring that stakeholders have the opportunity to review and discuss potentially impactful projects from the outset.

The European Investment Bank (EIB) Group has launched the second phase of its Climate Bank Roadmap. This phase prioritises competitiveness, energy security and affordability, with a commitment to simplify procedures and double climate adaptation financing to €30bn between 2026 and 2030. The roadmap aims to accelerate green investment by streamlining access to finance and reducing administrative burdens, particularly for SMEs, through tools like the Green Checker and alignment with EU sustainability standards.

Emergency Indication Centre

Energy Island Forum: The local promotional groups driving economic benefit from energy investment in North Wales and the Isle of Anglesey.

The European Investment Fund (EIF) has announced that it has signed a memorandum of understanding (MoU) with the United Nations Development Programme (UNDP) to develop joint initiatives for sustainable finance and the implementation of the Sustainable Development Goals (SDGs).

The European Insurance and Occupational Pensions Authority (EIOPA) has published a comparative study on diversification modelling in the internal models used by insurers. It provides an overview of the current modelling approaches and aims to equip national competent authorities (NCAs) with elements of an EU-wide comparison as well as various diversification indicators that are intended to support and complement the work of national supervisors when monitoring the ongoing compliance of internal models. EIOPA says the overall findings confirm the need for continuous supervisory scrutiny both at the local and European levels.

The European Insurance and Occupational Pensions Authority (EIOPA) and the European Central Bank (ECB) have collaboratively issued common minimum standards for data revisions. The standards have been collectively endorsed by the ECB, EIOPA, national central banks (NCBs) and national competent authorities (NCAs) in relation to the data pertaining to insurance corporations and pension funds. Recognising the unique nature of Pan-European Personal Pension Products (PEPPs), EIOPA has also developed specific minimum standards for data revisions, aiming to foster a harmonised approach between EIOPA and NCAs in this domain.

The European Insurance and Occupational Pensions Authority (EIOPA) has begun publishing shocked risk-free interest rate term structures (RFRs), which are used to calculate the ‘option-adjusted’ duration of technical provisions to be reported in the context of the guidelines for reporting for financial stability purposes (S.38.01.11—Duration of technical provisions).

The European Insurance and Occupational Pensions Authority (EIOPA) has published a study analysing the clarity of disclosures in Insurance Product Information Documents(IPIDs) for natural catastrophe (NatCat) coverage in home insurance policies across eight European countries. The study assessed documents provided by insurers and found that while some offered detailed definitions and precise descriptions of natural catastrophe perils, others used ambiguous language and displayed inconsistencies regarding exclusions and optional coverage features. This variability in disclosure may cause consumers to inaccurately assess the extent of their NatCat protection. The study also outlines good practices for insurers to effectively provide information on NatCat coverage and exclusions.

The European Insurance and Occupational Pensions Authority (EIOPA) has published the results of an EU-wide comparative study of risk in the internal models of the non-life underwriting of 75 European insurers belonging to 31 insurance groups. The aim of the study was to evaluate the differences between internal models to understand whether and to what extent these capture similar risks in a consistent manner. Additionally, it examined the non-life underwriting risk profiles to identify the reasons that influenced the risk capital over the first five years since the introduction of Solvency II.

The European Insurance and Occupational Pensions Authority (EIOPA) has published a consultation paper on the criteria based on which national supervisors may request reinsurers and insurance groups to perform macroprudential analysis in their Own Risk and Solvency Assessments (ORSA) and in their application of the Prudent Person Principle (PPP). EIOPA invites feedback by 9 January 2025.

The European Insurance and Occupational Pensions Authority (EIOPA) has launched a consultation paper on its draft technical advice regarding the capital requirements for cryptoassets held by EU insurers. EIOPA highlights concerns over the lack of transparency, low liquidity, and extreme price volatility associated with cryptoassets and proposes introducing a 100% stress on cryptoassets without diversification, regardless of their balance sheet treatment and whether the exposures are direct or indirect. Responses are sought by 16 January 2025.