Tag: Poseidon Principles

Climate transparency in financial institutions drives shipping's global finance portfolio closer to aligning with the IMO's net-zero goals.

The Poseidon Principles for Financial Institutions has announced an expansion with Swedbank being its newest signatory. 

The Poseidon Principles for Marine Insurance, an initiative backed by the Global Maritime Forum to drive decarbonisation of international shipping through transparency, has issued its second annual disclosure report.

The Poseidon Principles have announced the addition of three Japanese banks, committed to the cause of championing responsible ship finance. 

The Poseidon Principles have announced a significant revision to their framework for evaluating and reporting financial institutions’ shipping portfolios’ alignment with climate-related objectives, following IMO's 2023 GHG Strategy. 

During the 2023 GREEN4SEA Athens Forum, Dr-Ing Orestis Schinas, Scientific Advisor, HHX.blue, briefly outlined the provisos and impacts on shipping of sustainable finance, Poseidon Principles and EU Taxonomy, which are currently major developments in Europe’s financial markets.

Skuld announced its commitment to sustainable shipping by signing the Poseidon Principles for Marine Insurance.

Poseidon Principles for Marine Insurance published the first Annual Disclosure Report, as a step forward towards transparency in the maritime and insurance sectors.

More than two dozen international banks have reported emissions data of their ship finance portfolios in the third Poseidon Principles Annual Disclosure Report 2022. The report visualizes the hard road ahead to reduce emissions. The data remains influenced by COVID-19.

A buzz has surrounded sustainable finance in the shipping industry over the last few years and rightly so. The introduction of the Poseidon Principles in 2019 brought into strong focus the need for financiers to find ways to encourage greener shipping, argues Susan Riitala, Transportation Industry Group partner at global law firm Reed Smith.