Poseidon Principles 'won't wait for IMO' to add zero-carbon goal to ship finance

Leaders of the shipping banks in the Poseidon Principles initiative to boost green lending have ramped up a commitment to aim for zero emissions after the COP26 climate negotiations.

"We expect to amend the Poseidon Principles ambition to zero by 2050 early next year once we see what comes out of COP26 and MEPC77," said Michael Parker, chairman of global shipping at Citibank and chairman of the Poseidon Principles Association.