Template-Type: ReDIF-Article 1.0

Author-Name: Viktoria Deak
Author-Workplace-Name: Magyar Nemzeti Bank
Author-Email: deakvi@mnb.hu

Author-Name: Nikolett Toros-Barczel
Author-Workplace-Name: Magyar Nemzeti Bank
Author-Email: torosbarczen@mnb.hu

Author-Name: Norbert Holczinger
Author-Workplace-Name: Magyar Nemzeti Bank
Author-Email: holczingern@mnb.hu

Author-Name: Ferenc Szebeledi
Author-Workplace-Name: Magyar Nemzeti Bank
Author-Email: szebeledif@mnb.hu


Title: Sustainable Investments in the Insurance Sector

Abstract: Achieving global environmental and climate agreements requires the efforts of not
only supranational organisations and states, but also the financial sector, including
the insurance sector. In addition to the core business of insurance companies, i.e.
the undertaking of risk, their investments also play a key role. Recent years have
seen an increasing number of unit-linked products that seek to contribute to some
sustainability goal. However, the sustainability approaches and investor disclosures
of collective investment undertakings and unit-linked asset funds have not been
uniform, warranting regulation on account of the growing risk of greenwashing.
New EU legislation has created the opportunity, inter alia, to distinguish collective
investment undertakings and asset funds in terms of sustainability and to ensure
greater transparency for investors. While there is no doubt about the need for
regulation, at this stage it poses a number of challenges for institutions.

Classification-JEL: G22, G32, K29, Q56
Keywords: unit linked insurance, ESG, transparency, SFDR, climate change
Pages: 103-128
Volume: 21
Issue: 4
Year: 2022
File-URL: https://en-hitelintezetiszemle.mnb.hu/letoltes/fer-21-4-st4-deak-toros-barczel-holczinger-szebeledi.pdf
File-Format: Application/pdf
Handle: RePEc:mnb:finrev:v:21:y:2022:i:4:p:103-128