Aligning ship finance
with climate goals
The Poseidon Principles are a framework for assessing and disclosing the climate alignment of ship finance portfolios. They create common global baselines that are consistent with and supportive of society’s goals to better enable financial institutions to align their portfolios with responsible environmental impacts.
The Poseidon Principles are supported by a robust and industry-appropriate climate alignment assessment methodology and carefully considered accountability and enforcement requirements that support practical and robust data collection and analysis practices. The Poseidon Principles also establish transparency requirements for signatories.
Principle 1: Assessment
Signatories will measure the emission intensity of their shipping portfolios on an annual basis and assess their climate alignment relative to established decarbonisation trajectories. This assessment is based on a robust industry-appropriate methodology outlined in the Technical Guidance.
Principle 2: Accountability
Signatories will rely on the International Maritime Organization (IMO) standards and Recognized Organizations (RO) for the provision of identical, unbiased information for all steps of assessing climate alignment as identified in the Technical Guidance. This includes honouring mandatory IMO regulations for collecting and reporting fuel oil consumption information in the IMO Data Collection System (DCS).
Principle 3: Enforcement
Signatories will include a covenant clause, or a binding agreement, in all new shipping business activities which ensures access to high quality data and compliance with the Poseidon Principles. Signatories commit to working with clients to gather the necessary information to assess climate alignment.
Principle 4: Transparency
Signatories will publicly acknowledge their participation in the Poseidon Principles and publish their climate alignment scores in the Poseidon Principles Annual Disclosure Report and their own corporate reports each year.
POSEIDON PRINCIPLES
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