Environmental Social Governance (ESG) and Implications for Insurers

• Jurisdiction: European Union
• Year: 2023

Speaker

Dieter has served for around 30 years in the insurance sector, 20 of these at a European level. He started his professional career in various positions with Austrian, German and Italian insurance groups.

From 2004 to 2015 he has been the representative to the European Union of the Austrian Insurance Association (VVO). In addition he served as a deputy member of the Executive Committee (Board of Directors General) of the European Insurance and Reinsurance Federation “Insurance Europe” from 2008 to 2015.

In 2016 he was appointed Head of European Affairs of Vienna Insurance Group (VIG) and is based in Vienna and Brussels. His responsibilities include the group’s interest representation vis-à-vis the European Institutions and the support of all business areas facing EU issues.

Topic

In this presentation, Dieter Pscheidl unravels the intricacies of the Sustainable Finance Package, elucidating its transformative impact on European climate change legislation, with a specific focus on the financial and insurance sectors. The Sustainable Finance Package, a landmark initiative, represents a pivotal step in integrating sustainability considerations into the core of financial practices, aligning the sectors with broader environmental objectives.

Pscheidl begins by providing a comprehensive overview of the Sustainable Finance Package, highlighting its key provisions and mechanisms. This legislative framework serves as a comprehensive strategy to channel financial resources toward sustainable and environmentally responsible investments. By dissecting its components, the presentation offers a nuanced understanding of how the package seeks to reshape the financial landscape, with a particular emphasis on fostering climate resilience.

The presentation then zooms in on the profound implications of the Sustainable Finance Package for the insurance sector. Pscheidl delves into the specific measures that bring climate change considerations into the purview of insurance practices, emphasizing the sector's pivotal role in managing and mitigating climate-related risks. By examining the...