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Insurance Europe holds seminar on sustainable finance

As part of Invest Week, Insurance Europe hosted a seminar on the role of insurers in sustainable finance on 20 November.

Keynote speaker Jyrki Katainen, European Commission Vice-President for Jobs, Growth, Investment and Competitiveness (pictured), highlighted the “paramount importance” of the insurance industry in sustainable finance, pointing to insurers’ role in mobilising private capital and sharing good practices.

Insurance Europe president Sergio Balbinot stressed that, while insurers already play a variety of roles in promoting sustainability, if the industry is to do more policymakers must address the limited supply of sustainable assets, including avoid “crowding out” private investors when using public funds to support investment, and must adjust the regulatory framework for insurers’ long-term investments to better reflect actual risks.

The seminar concluded with a panel debate between Sven Giegold MEP; Michael Leinwand, chief investment officer at Zurich Group Germany; Carina Silberg, head of sustainability at Alecta, Sweden; and Manuela Zweimueller, head of policy at the European Insurance and Occupational Pensions Authority. The wide-ranging discussion covered such issues as sustainable finance definitions and labelling, prudential regulation and investment strategies.

Invest Week, which runs from 20-24 November, comprises a series of events examining the impact of investment on sustainable growth. It is supported by the Estonian Presidency of the Council of the European Union.

Published 21 November 2017