IVASS' Commitment for COP26

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Other

Description

On the occasion of the Finance Day of the UN Climate Change Conference - COP26, IVASS confirms its will to contribute to the global action to limit global surface temperature increase and achieve the objectives of the Paris Agreement.

IVASS has included the promotion of sustainable finance among the objectives of the supervisory policies set out in the 2021-2023 Strategic Plan, in the firm belief that natural ecosystem conservation, sustainability, transition to a green economy and resilience to natural catastrophe risks are key priorities for the pursuit of financial stability.

The enclosed text sets out IVASS’ future commitments to strengthen the tools for monitoring environmental and climate risks available to Italian insurance undertakings, as it believes that the insurance sector can play a key role in favouring the ecological transition of the Italian economy.

IVASS’ individual commitment adds to the collective commitment undertaken today – in the Glasgow Declaration – by the Network for Greening the Financial System (NGFS), a global network of central banks and supervisors in which IVASS actively participates, and by the United Nation Development Programme (UNDP) Sustainable Insurance Forum (SIF).

issue date

3 November 2021