regulation for sustainability

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How insurers can benefit from the Corporate Sustainability Reporting Directive (CSRD) and EU Taxonomy Regulation
Regulatory challenges can be a major driver of change for insurance companies. Regulation means a lot of effort, but at the end of the day, how can companies generate added value from this effort? In this blog post, we will examine how the regulatory changes can be not only a requirement, but also an opportunity for insurance companies to take a leading role in shaping a sustainable future. We will summarize the changes in a clear manner and present possible implementation steps.

In recent years, sustainability has become a key issue for companies. More and more insurance companies are also realizing that sustainability is not only good for the environment, but can also be beneficial for their business. One of the most important drivers of this development is the increasing regulation by government and international institutions. The aim cyprus consumer email list of the regulation is to oblige companies to bring their activities into line with the United Nations Sustainable Development Goals (SDGs). In an insurance company, this affects all areas of the insurance business - from investment strategy to underwriting. Insurance companies must ensure that their investments go into sustainable projects and that their products and services help promote sustainability. But what exactly is behind this new regulation?

Corporate Sustainability Reporting Directive (CSRD)
The CSRD was introduced by the European Commission in early 2023 and is intended to expand the existing framework for corporate sustainability reporting. These requirements are expected to be implemented from the reporting year 2024 (listed companies) or 2025 (other large companies). The CSRD requires public interest companies to provide additional information on sustainability in their annual reports. This includes information on the impact of business activities on the environment and society, as well as the measures the company takes to promote sustainability.