Just under half of Poseidon banks meet the IMO’s target

The glass is less than half full when the banks behind the Poseidon Principles decide whether their shipping portfolios meet the IMO’s climate target, but Michael Parker, chair of the Poseidon Principles Association, is still optimistic. Covid-19 has slowed down the work, but there is clear progress.

Michael Parker, chairman of Poseidon Principles. | Photo: Global Maritime Forum

Fewer than half of the banks that have signed the Poseidon Principles have shipping portfolios that meet the IMO’s climate targets for shipping, but this is an improvement on last year.

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