The green alliance, Poseidon Principles, will add a second trajectory for emissions reduction and will thus follow two trajectories and, with that, its goals will become more ambitious.
The statement comes after months of being questioned as to whether the initiative, which is signed by 30 shipping banks and 17 marine insurers, is ambitious enough, as it only followed the International Maritime Organization’s (IMO) trajectory of 50-percent reduction of emissions by 2050.
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In the drama surrounding the merger between tanker majors Euronav and Frontline, one of the arguments from Euronav’s biggest shareholder, the Saverys family, is that the merger will pull Euronav in the wrong direction on the green agenda. Euronav tells ShippingWatch that the company rejects this criticism.