Luigi Federico Signorini, the
director general of the Bank of Italy and the head of Italian
insurance supervisory authority IVASS, on Monday sounded the
alarm about the danger of greenwashing in relation to financial
investments.
Signorini told the 'Insurance Summit 2021 organized by Italian
insurers association ANIA that the criteria for sustainable
finance is "neither harmonized nor easily verifiable.
"In this scenario, confusion is set to increase and
'greenwashing' is not a risk to take lightly".
With regards to the climate crisis, Signorini added that "Italy
is much more exposed to natural disasters than many other
countries, yet the level of insurance coverage is relatively
low".
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