[{"data":1,"prerenderedAt":72},["ShallowReactive",2],{"activity-en-10.3":3,"sector-for-en-10.3":45},{"id":4,"title":5,"activityCode":6,"activityType":7,"body":8,"description":31,"dnsh":32,"extension":33,"meta":34,"naceCodes":35,"navigation":37,"path":38,"sector":39,"seo":40,"stem":41,"substantialContribution":42,"__hash__":44},"activities_en\u002Fen\u002Fsectors\u002Ffinancial-and-insurance\u002Factivities\u002F10-3-lending-climate-adaptation.md","Lending for Climate Adaptation","10.3","standard",{"type":9,"value":10,"toc":26},"minimark",[11,16,20,23],[12,13,15],"h2",{"id":14},"substantial-contribution-to-climate-change-adaptation","Substantial Contribution to Climate Change Adaptation",[17,18,19],"p",{},"The lending activity must finance projects, assets or activities that substantially contribute to climate change adaptation as defined by the EU Taxonomy. The lender must implement a robust assessment framework that evaluates each loan against the Taxonomy adaptation criteria before disbursement.",[17,21,22],{},"The financed projects must include a Climate Risk and Vulnerability Assessment conducted in line with Appendix A of the Climate Delegated Act. The CRVA must use climate projections under RCP 4.5 and RCP 8.5 scenarios and identify material physical climate risks over the project's expected lifetime. Adaptation solutions must be identified and implemented that reduce all material risks without adversely affecting the adaptation efforts of others.",[17,24,25],{},"The lender must maintain a portfolio-level climate adaptation tracking system that records the share of lending directed to Taxonomy-aligned adaptation activities, the types of adaptation measures financed, and the climate risks addressed. At least 80% of the loan portfolio classified under this activity must be directed to projects meeting the full Taxonomy substantial contribution criteria for climate adaptation. The lender must report annually on portfolio alignment, including the geographic distribution of financed adaptation measures and the physical climate risks they address.",{"title":27,"searchDepth":28,"depth":28,"links":29},"",2,[30],{"id":14,"depth":28,"text":15},"Financial lending activities specifically directed toward projects and assets that substantially contribute to climate change adaptation.",[],"md",{},[36],"K64.19",true,"\u002Fen\u002Fsectors\u002Ffinancial-and-insurance\u002Factivities\u002F10-3-lending-climate-adaptation","financial-and-insurance",{"title":5,"description":31},"en\u002Fsectors\u002Ffinancial-and-insurance\u002Factivities\u002F10-3-lending-climate-adaptation",[43],"cca","1hZrA1_nUSWeQ_fxZISPatoyZbwAdew-v4MD610I_jQ",{"id":46,"title":47,"activityCount":48,"body":49,"description":62,"extension":33,"icon":63,"meta":64,"naceCodeRange":65,"navigation":37,"objectives":66,"path":67,"sectorNumber":68,"seo":69,"stem":70,"__hash__":71},"sectors_en\u002Fen\u002Fsectors\u002Ffinancial-and-insurance.md","Financial & Insurance",3,{"type":9,"value":50,"toc":60},[51,54,57],[17,52,53],{},"The financial and insurance sector occupies a distinctive position in the EU Taxonomy as a capital allocation mechanism. Rather than generating direct emissions, financial activities determine where investment flows -- making them powerful levers for accelerating the green transition.",[17,55,56],{},"Activities include non-life insurance and reinsurance for climate-related perils, lending for climate adaptation projects, and portfolio management that integrates Taxonomy criteria into investment decisions. The focus on climate change adaptation reflects the insurance industry's frontline role in pricing and managing physical climate risks.",[17,58,59],{},"Technical screening criteria for this sector emphasise the systemic importance of financial risk management. Insurers must demonstrate that their underwriting practices incentivise adaptation measures among policyholders. Lenders must apply Taxonomy-aligned criteria to their lending books, ensuring that financed activities meet the relevant technical thresholds. The sector's alignment is measured through metrics such as the Green Asset Ratio (GAR) for banks and the proportion of Taxonomy-aligned premiums for insurers.",{"title":27,"searchDepth":28,"depth":28,"links":61},[],"Insurance, reinsurance, and lending activities that channel capital toward climate-resilient and sustainable outcomes.","lucide:landmark",{},"K64-K66",[43],"\u002Fen\u002Fsectors\u002Ffinancial-and-insurance",10,{"title":47,"description":62},"en\u002Fsectors\u002Ffinancial-and-insurance","SyD-AufUMKDQ9WlZwq22IaSUbnky7dr87PMJXwKB5N0",1775591372955]