Poseidon Principles for Marine Insurance, the green alliance’s insurance part, now gets its first Asian signature as Cosco Shipping Captive Insurance, which is the Cosco group’s marine insurance unit, commits to the principles.
Poseidon Principles is an alliance of banks and insurance companies working to align portfolio CO2 emissions with the International Maritime Organization’s (IMO) goal of a 50-percent reduction in 2050.
More from ShippingWatch
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.