Insurers back EIOPA move to strip gas and nuclear breakdowns from Taxonomy templates

Insurance Europe and the CFO Forum have endorsed EIOPA’s plans to simplify insurers’ Taxonomy disclosures, describing the package in a joint consultation response as "a welcome step towards improving the usability, proportionality, and decision-usefulness of Taxonomy reporting while reducing unnecessary reporting burden". EIOPA had sought feedback on revising insurers’ corporate disclosures under the EU Taxonomy’s Disclosures Delegated Act by 12 August 2026.

EIOPA proposes removing the breakdown of gas and nuclear activities from its reporting templates, and giving Taxonomy disclosures more prominence within insurers’ annual reports. Insurance Europe and the CFO Forum agreed, arguing that "gas and nuclear exposures are generally immaterial (ratio of only a few basis points) to insurers’ investment portfolios". A dedicated breakdown "would perpetuate complexity in the reporting framework without providing users with a meaningfully better understanding of insurers’ sustainability profile", the response said.

Insurance Europe and the CFO Forum also opposed a voluntary investment-alignment measure based on operating expenditure, arguing that "combining OpEx and CapEx would require blending a ‘flow’ metric with a ‘stock’ metric, which are conceptually different in nature and not readily comparable". EIOPA likewise recommends against such voluntary reporting, and proposes group disclosures built on the parent company’s main business rather than weighted averages. Insurers supported that main-business approach, describing the combination of KPIs across different types of undertakings as overcomplicated.