Michael Parker, Chairman of Global Shipping Logistics & & Offshore at Citi as well as Chair of the Poseidon Principles Association.
The globe’s biggest lending institution to worldwide delivery, BNP Paribas, as well as leading riches supervisor Credit Suisse have actually ended up being the fifteenth as well as sixteenth banks to join to thePoseidon Principles
With BNP Paribas as well as Credit Suisse currently aboard, signatures to the Poseidon Principles stand for around $140 billion in finances to worldwide delivery– regarding 30% of the overall worldwide ship financing profile.
“The decision of BNP Paribas and Credit Suisse to sign on to the Poseidon Principles represents another milestone for responsible ship finance. We welcome their leadership and we encourage other serious financial institutions to join them in serving global seaborne trade in a sustainable manner,” states Michael Parker, Chairman of Global Shipping Logistics & & Offshore at Citi as well as Chair of the Poseidon Principles Association.
The concepts develop a typical structure to quantitatively examine as well as reveal whether banks’ borrowing profiles remain in line with the environment objectives established by IMO that ask for overall yearly GHG discharges from delivery at the very least 50% by 2050, with a solid focus on absolutely no discharges.
The concepts are created to sustain ship proprietors in accomplishing the “at least 50% by 2050” decrease target as well as to assist banks in taking care of vital financial investment dangers.
“As a leading and longstanding lender to the global maritime industry, we welcome the establishment of the Poseidon Principles, an industry-wide and self-volunteered initiative that reflects our own commitment to combat climate change and protect the oceans,” states Vincent Pascal, Head of Shipping & & Offshore Finance EMEA at BNP Paribas.
“The Poseidon Principles are key to leading industry-wide change. Along with our co-signatories, we aim to align our ship finance portfolio to be environmentally responsible and to lead by example in the reduction of GHG emissions. Joining the principles shows our clear and continued commitment to sustainable shipping – being there to support our clients in their business and in their transition to a low-carbon shipping industry,” states Mario Béhé, Global Head of Ship Finance at Credit Suisse.
Signatories of the Poseidon Principles consist of, ABN Amro, Amsterdam Trade Bank, BNP Paribas, Citi, Credit Agricole CIB, Credit Industriel et Commercial, Credit Suisse, Danish Ship Finance, Danske Bank, DNB, DVB, Export Credit Norway, ING, Nordea, Soci été Générale, as well as Sparebanken Vest.
