EIOPA Consultation Paper: Use of climate change risk scenarios in ORSA

We recently published a COVID-19 ORSA risk guide offering insights into how events like the pandemic could be considered within Own Risk and Solvency Assessment scenarios. This latest consultation from the European Insurance and Occupational Pensions Authority builds on work started by the Bank of England, requiring firms to consider climate change risks in the Insurance Stress Test 2019 exercise and in the upcoming 2021 biennial exploratory scenario on financial risks from climate change.