They are also supportive of the Principles for Responsible Banking, the Carbon Disclosure Project, and the Energy Transitions Commission. By making valuable asset-level climate alignment data available to financial institutions, the Poseidon Principles are supportive of the Task Force on Climate Related Financial Disclosures (TCFD).
They borrow the concept of creating globally agreed common baselines that can be act as established minimum standards from the Equator Principles. The Poseidon Principles were developed through a global consultation process.
They are an initiative unique to ship finance and bridge climate change commitments set out by the International Maritime Organization (IMO) as well as the expanding environmental expectations of financial institutions. The Poseidon Principles were developed in recognition financial institutions’ role in promoting responsible environmental stewardship throughout the maritime value chain. Therefore, all industry participants must play a role in addressing adverse consequences. The continued success of the maritime sector is intrinsically linked to the well-being and prosperity of society. However, this has not been without some adverse consequences unique to the maritime sector. The maritime sector has provided efficient economic services that have played a key role in enabling the growth of global trade and global economic development.
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