Poseidon Principles 2020 Disclosure Report Reveals Room To Improve

15 signatories of the Poseidon Principles have released a disclosure report assessing the climate alignment score of their ship finance portfolios. For 2020, the report shows ING, Export Credit Norway, and BPIFrance Assurance Export’s ship finance portfolios are aligned with UN decarbonisation targets, while 12 banks’ portfolios fall short.

Joining the charterers formation of the Sea Cargo Charter, the banking industry’s intended transparency through the Poseidon Principles became the first sector-specific climate alignment agreement for financial institutions.

To assess the climate alignment of a single vessel via the Poseidon Principles, the vessel’s annual carbon intensity is compared with the decarbonisation trajectory for its respective ship type and size.

A total of 20 financial institutions have joined, representing over $150bn in loans to international shipping – more than a third of the global shipping finance portfolio.


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