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A quick guide to the Poseidon Principles by Dr Sophie Parker

Nov 06 2019

Leading shipping banks, responsible for $100 billion in ship finance, signed up in June 2019 to the Poseidon Principles, officially launched at Marine Money. The Poseidon Principles will, for the first time, include climate variables into decision-making when providing shipping company loans. Inspired by the Equator Principles, which now has close to 100 financial institutions in 37 countries, the list of signatories is expected to grow substantially, as many banks are doing due diligence to understand the benefits and risks of joining.

First published in Marine Money Volume 35 issue 6, the guide, written by Dr Sophie Parker from UMAS and Julia Zhan from Marsoft, discusses the legal and technical issues associated with the IMO Data Collection System (DCS) which forms the input to the Poseidon Principles, decarbonisation trajectories and preparing for climate risk management. Read the full article here.