EIOPA launches first EU-wide climate stress test for insurers

EIOPA today launched its first climate stress test for Institutions for Occupational Retirement Provisions in the European Economic Area, applying a common transition‑risk scenario across defined benefit and defined contribution pension schemes. The exercise, which excludes insurers subject to Article 4 of the IORP Directive, is intended to assess how occupational pensions would cope with a sharp policy‑driven shift to…