Poseidon Principles

Poseidon Principles elect new Steering Committee members

The annual meeting of the Poseidon Principles Association took place on Wednesday, 27 April 2022 as a hybrid meeting. Among other business, the Association re-elected existing members of its Steering Committee, and appointed two new members to the governance body.

Copenhagen, 27 April 2022 – Following today’s annual meeting, the Poseidon Principles Association announces the new composition of its Steering Committee, the governance body that coordinates the Association on behalf of its members. The Poseidon Principles are a global framework for measuring and publicly reporting the carbon footprint of financial institutions’ shipping portfolios.

Michael Parker (Citi) was re-elected as Chair of the Steering Committee. Paul Taylor (Société Générale) was re-elected as Vice Chair of the Steering Committee. Stephen Fewster (ING) was re-elected as Treasurer of the Steering Committee.

Mark Bamford (Credit Suisse), Florin Boros (ABN Amro), Thibaud Escoffier (Crédit Agricole), Michael Frisch (Danish Ship Fincance), Masaya Noda (SuMiTrust Bank), Christos Tsakonas (DNB), and Tom Erik Vågen (Danske Bank) were re-elected as members of the Steering Committee.

Heng Chih Chwen (Standard Chartered) and Vincent Pascal (BNP Paribas) were elected as new members of the Steering Committee.

“I feel privileged to have been part of the Poseidon Principles’ journey since the idea to incorporate climate considerations into lending decisions in the maritime sector was first conceived. Time has proven that the Poseidon Principles are increasingly impactful and have inspired other sectors to emulate our example. I look forward to working together with all other Steering Committee members and Signatories to ensure that this remains true in the future,” says Michael Parker, Chairman of Global Shipping Logistics & Offshore at Citi and Chair of the Poseidon Principles Association.

Hereafter, the Steering Committee consists of:
Michael Parker (Chair), Paul Taylor (Vice Chair), Stephen Fewster (Treasurer), Mark Bamford, Florin Boros, Heng Chih Chwen, Thibaud Escoffier, Michael Frisch, Masaya Noda, Vincent Pascal, Christos Tsakonas, and Tom Erik Vågen.

More information about the members of the Steering Committee is available here.

About the Poseidon Principles
The Poseidon Principles are a framework for measuring and reporting the alignment of financial institutions’ shipping portfolios with climate goals. Recognizing financial institutions’ role in promoting responsible environmental stewardship throughout the maritime value chain, the Poseidon Principles provide them with tools to foster collaboration with clients, gain insight to enhance strategic decision-making, and address the impacts of climate change.

The Poseidon Principles are built on four principles – Assessment of climate alignment, Accountability, Enforcement, and Transparency – which they share with the Poseidon Principles for Marine Insurance and the Sea Cargo Charter. Established under the auspices of the Global Maritime Forum, the three initiatives aim to increase the transparency of environmental impacts within global seaborne trade, promote industry-wide change, and support a better future for the industry and society.

For more information, please visit www.poseidonprinciples.org/finance

Media contact: Tina Maver | Communications Manager | +45 3114 1634 | tm@globalmaritimeforum.org