Insurers have been recognised as important players for sustainable finance due to their investment products and services. The European co-legislators has adopted a number of rules which apply to insurers. Catherine Hock, SVP International Relations, ICMIF, explores how the Corporate Sustainability Reporting Directive (CSRD) and the European Sustainability Reporting Standards (ESRS) can help ICMIF members in finding a common language for sustainability reporting.

Sustainable development is embedded in Article 3 of the Treaty on the European Union (EU), and as such, the European Union has demonstrated a leadership role in moving forward the United Nations’ Sustainable Development Goals (adopted by the General Assembly of the UN in 2015) and implementing the 2030 Agenda for Sustainable Development.

Sustainable development priorities were mainstreamed into the European Union’s key policies, with the most ambitious/prominent project being a package of policy initiates known as the European Green Deal, adopted in June 2021. The Green Deal makes reducing carbon emissions by…