BaFin presents insurers and banks with a dilemma

On the one hand, BaFin wants financial companies to take a closer look at climate risks. On the other hand, it warns against overburdening customers with data queries. This is a contradiction, because the industry lacks data in particular in order to be able to better assess risks such as floods or heat waves. This was demonstrated by a discussion round at the BaFin conference Sustainable Finance.