Thea Utoft Høj Jensen, Director General of the European Insurance and Reinsurance Federation (Insurance Europe), has called for existing sustainability requirements to be streamlined, in a letter sent to the European Commission on Tuesday 11 February.
“We fully recognise the need for the sustainability framework to be improved and commend the European Commission for its commitment to simplify the framework”, she wrote ahead of the presentation of the annual work programme (see other news), of which the ‘Omnibus’ package is a part (see EUROPE 13574/4, 13576/2).
Insurance Europe recommends that “changes on the CSRD [Corporate Sustainability Reporting Directive] should focus on limiting regulatory burdens and removing overlap with other regulations”. The federation also recommends that “Work on additional sector-specific reporting should be stopped at least until existing reporting has been assessed”.
With regard to taxonomy, it considers that the emphasis should now be placed on reducing costs by introducing a materiality filter into reporting requirements.
To read the letter, go to https://aeur.eu/f/fgl (Original version in French by Anne Damiani)