Standard Chartered has signed onto the Poseidon Principles, making a commitment to reduce carbon emissions compared to 2008 by at least 40% by 2030 and by at least 50% by 2050. Standard Chartered has released a statement, noting, “Cutting carbon emissions in the shipping sector is crucial in curbing the worst effects of climate change and achieving net-zero. As a bank that specializes in financing world commerce and the enablers of global trade, signing up to the Poseidon Principles is therefore an important addition to our existing efforts to reduce our financed emissions.”