Regulation

Poseidon Principles align with IMO climate targets

The Poseidon Principles agree on higher reporting and lending requirements to make the banks’ total loan portfolio climate neutral by 2050.
”Our focus is on working with our clients to help them to a greener, more sustainable mari:me future through the energy transi:on to net zero once the fuels, ships and technology are available at scale,” says Michael Parker, chair of the Poseidon Principles. | Photo: Global Maritime Forum
”Our focus is on working with our clients to help them to a greener, more sustainable mari:me future through the energy transi:on to net zero once the fuels, ships and technology are available at scale,” says Michael Parker, chair of the Poseidon Principles. | Photo: Global Maritime Forum
by SEBASTIAN SCHLÜTER JACOBSEN

The companies in Poseidon Principles’ loan portfolio must be climate neutral by 2050, and this goal is now giving rise to new and stricter requirements for both lending and reporting, according to a press release from the 30 banks and insurance companies behind Poseidon Principles, which account for approximately 65% of the total global ship financing.

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