Insurers Urge EU To Be Generous With Green Credentials

Law360, London (May 8, 2019, 3:52 PM BST) -- Europe’s insurers on Wednesday urged the European Commission not to narrow the way that it designates financial products as environmentally friendly, to avoid a situation where only a slim minority of companies are able to secure their green credentials.

Insurance Europe, the voice of the industry, called on the commission not to restrict its criteria for issuing so-called Ecolabels, which are awarded to products that demonstrate “environmental excellence.”

“Very few investment funds and insurance-based investment products are currently defining themselves as green or sustainable,” the lobby group said in a response to a consultation by the European Union’s executive arm. “Making...

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