Tag: Poseidon Principles

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.  

COSCO SHIPPING Captive Insurance, a subsidiary of COSCO SHIPPING Group, becomes the first Asian marine insurance company to support the Poseidon Principles for Marine Insurance.

The Poseidon Principles have committed to adopting an emissions reduction trajectory in line with net-zero commitments, as soon as such a trajectory or trajectories become available.

The Poseidon Principles welcomed CaixaBank as the latest Signatory and the first Spanish bank to join.

WFW experts provide an overview of the Poseidon Principles for Marine Insurance, which entered into force in early May,  with the aim to establish a framework to engage with the shipping industry and support net-zero insurance.

The Poseidon Principles for Marine Insurance announced that they are now entering into force, after the number of its Signatories surpassed the threshold of eight, with Navium and AXA XL being the latest Signatories.