Sustainable Finance Lobbying Overview: The European Federation of Insurance Intermediaries (BIPAR) appears to have had moderate engagement with sustainable finance policy, particularly through direct consultation responses.
Top-line Messaging on Sustainable Finance Policy: BIPAR has not issued any broad policy positions on the need for financial sector reform, climate action or the need for sustainable finance policy. Although in 2019 some policy positions were stated on BIPAR's website, as of 2022 these are no longer available, and the page only describes EU policies they are following.
Position on Taxonomies: BIPAR does not appear to have directly engaged with the EU Taxonomy since 2018 when it took mixed positions on the policy. During 2019-2023, BIPAR has not engaged on the EU Taxonomy, only describing new developments without stating a clear position.
Position on Integrating ESG into Investor Duties: In 2018/19, BIPAR engaged on EU legislation aimed at integrating ESG considerations into investor duties, arguing for weaker wording in the update to the Insurance Distribution Directive (IDD) concerning the inclusion of ESG considerations in the advice insurance firms give to clients. This included arguing against a requirement to state that particular products do not pursue ESG objectives. On its website in 2019, BIPAR described how it had engaged on the ESG disclosures regulation to argue that the scope of the regulation should be limited to products marketed as pursuing ESG objectives. In a 2022 LinkedIn article, BIPAR appeared to support the Sustainable Finance Disclosure Regulation (SFDR), but stated concerns around the timing of implementation. In feedback to the European Supervisory Authorities (ESAs) in 2023, it stated some concerns on changes proposed under the SFDR review, such as a new social Principal Adverse Impact (PAI) indicator and suggested further clarity on the Regulatory Technical Standards (RTS).
Position on Other Sustainable Finance Policies: In response to the Commission on the Revision of the Non-Financial Reporting Directive (NFRD) in 2020, BIPAR broadly supported increased transparency but suggested that it should be voluntary for SMEs. Website disclosure is limited to the description of policy developments on corporate sustainability disclosures, ESG label and standards, without stating clear positions.
Transparency: BIPAR has listed policies it is tracking, but with no further detail on desired outcomes or engagement activities. It has also disclosed a full list of national association members and the name of the individuals holding key positions in the executive and on key committees, but not the companies they belong to.