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See e.g. EIOPA. in Opinion on Sustainability within Solvency II (EIOPA-BoS-19/241, 2019); PRA in The impact of climate change on the UK insurance sector (2015) or BaFin in Sustainability: a duty and a challenge for the insurance industry (Issues 2/2019)", "attrs": null, "canon": { "kind": { "name": "Source note", "slug": "source-note", "status": "active", "canonId": "23484952-494b-4a5e-b1ad-550d0d70e948", "version": 1, "description": "Attribution / source / caveat placed at the slide footer. 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The exact design is still subject of ongoing discussions.", "attrs": null, "canon": { "kind": { "name": "Callout", "slug": "callout", "status": "active", "canonId": "019de52c-f8d3-761a-8953-7d37080de5e2", "version": 1, "description": "Highlighted callout box." }, "tool": null, "subkind": { "name": "Primary callout", "slug": "primary", "status": "active", "canonId": "019de52c-fbd1-70eb-a9ce-8997f8674c1d", "version": 1, "description": null }, "framework": null }, "subkind": "primary", "groupRole": null, "confidence": null, "extraction": { "at": "2026-05-02 19:13:28.831+00", "model": "google/gemini-3.1-flash-lite-preview-20260303", "runId": null, "seconds": null, "promptVersion": null }, "componentId": "42e52d7c-ea4d-4c4a-807a-291b60f94674", "parentComponentId": null }, { "bbox": { "h": 0.6, "w": 0.18, "x": 0.78, "y": 0.2 }, "kind": "image", "text": "EIOPA document thumbnails", "attrs": null, "canon": { "kind": { "name": "Image", "slug": "image", "status": "active", "canonId": "019de52c-f978-701f-a720-51d029d769e7", "version": 1, "description": "Photo, illustration, screenshot or icon." }, "tool": null, "subkind": { "name": "Screenshot", "slug": "screenshot", "status": "active", "canonId": "019de52c-fd87-7509-8391-3d79fb339379", "version": 1, "description": null }, "framework": null }, "subkind": "screenshot", "groupRole": null, "confidence": null, "extraction": { "at": "2026-05-02 19:13:28.831+00", "model": "google/gemini-3.1-flash-lite-preview-20260303", "runId": null, "seconds": null, "promptVersion": null }, "componentId": "f02fda25-7eac-4c3f-9098-d090f6a67d78", "parentComponentId": null }, { "bbox": { "h": 0.25, "w": 0.7, "x": 0.05, "y": 0.56 }, "kind": "list", "text": "The EIOPA discussion paper on Methodological Principles of Stress Testing, published in June 2020, sets out a detailed framework for climate risk scenarios: The focus lies on transition risks and physical risks. Various transmission channels are identified through which climate risks can materialize. The use of IPCC scenarios from integrated assessment models (\"IAMs\") is recommended for a forward-looking approach. Scenarios can be constructed at various levels of granularity. The aggregation level should strike a balance between comparability, complexity and appropriate asset valuation. For the quantification of impacts, various approaches are discussed for different asset classes.", "attrs": null, "canon": { "kind": { "name": "List", "slug": "list", "status": "active", "canonId": "019de52c-f94b-779b-a53b-fd4904a5f4d2", "version": 1, "description": "Bullet or numbered list." }, "tool": null, "subkind": { "name": "Bullet list", "slug": "bullet", "status": "active", "canonId": "019de52c-fc98-7169-a083-5cab805076ca", "version": 1, "description": null }, "framework": null }, "subkind": "bullet", "groupRole": null, "confidence": null, "extraction": { "at": "2026-05-02 19:13:28.831+00", "model": "google/gemini-3.1-flash-lite-preview-20260303", "runId": null, "seconds": null, "promptVersion": null }, "componentId": "b189e7ec-4dd4-46b1-b097-fb9a524ddb6f", "parentComponentId": null }, { "bbox": { "h": 0.25, "w": 0.7, "x": 0.05, "y": 0.25 }, "kind": "list", "text": "At the request of the European commission, EIOPA published an opinion on sustainability risk within Solvency II. This opinion provides important guidelines for the treatment of climate risks for insurers, in particular: Sustainability risk may also arise on shorter time horizons relevant for Pillar I and II requirements. In particular, climate policy related risks (\"transition risks\") could trigger sudden asset revaluations. The calibration to historical data is not appropriate to the problem at hand. Climate risks must be considered on a forward-looking basis. For material risks, a quantitative consideration is required. 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NGFS, NGFS Climate Scenarios for central banks and supervisors (June 2020)\n3. https://carbonpricingdashboard.worldbank.org/\n4. https://ourworldindata.org/\n5. EU Technical Expert Group on Sustainable Finance, Taxonomy Report and Technical Annex, (June 2019/March 2020)", "attrs": null, "canon": { "kind": { "name": "Source note", "slug": "source-note", "status": "active", "canonId": "23484952-494b-4a5e-b1ad-550d0d70e948", "version": 1, "description": "Attribution / source / caveat placed at the slide footer. 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