Poseidon Principles Chair Michael Parker steps down, replaced by current Vice Chair Paul Taylor

8 January 2025, Copenhagen – Michael Parker, Chairman of Global Shipping & Logistics, Citi, stepped down as Chair of the Poseidon Principles Association on 31 December 2025, a role he has held since the Association’s founding in 2019. He will, however, remain Citi’s representative on the Steering Committee.

Parker said he is pleased to be leaving the Poseidon Principles in a good place, particularly after the latest disclosure report revealed positive developments in signatories’ climate alignment scores and portfolio disclosure rates. 

“The Poseidon Principles have become an established, globally recognised standard for transparent disclosure, with the 36 signatories collectively representing nearly three-quarters of the world’s ship finance portfolio,” Parker said. “The Association has gone from strength to strength since its founding, inspiring other industries like steel, aviation, and aluminium to follow suit. It has been an honour to serve as the Chair of the Poseidon Principles over the last six years, and I look forward to watching signatories continue to lead the way on shipping finance disclosure.” 

Paul Taylor, Global Head of Maritime Industries at Societe Generale and current Vice Chair of the Poseidon Principles, will serve as Chair until the next Annual Meeting in May, at which point a formal election will take place. Taylor has indicated his desire to continue in the role of Chair pending formal election by the new Steering Committee. 

“It’s a privilege to step into Michael Parker’s shoes as Chair,” Taylor said. “His leadership, vision, dedication, and resilience have been critical factors in the Poseidon Principles being the benchmark of climate finance stewardship for the maritime sector that they are today. I will do my best to continue Michael’s excellent work, particularly in this next phase as we introduce associate membership for a broader range of financial institutions to increase the positive impact of the Poseidon Principles.” 

Stephen Fewster, Global Head of Shipping Finance at ING Bank N.V. and Treasurer of the Poseidon Principles, will serve as both Vice Chair and Treasurer until the elections in May. 

The change in leadership took effect on 1 January 2026. Day-to-day operations of the Poseidon Principles Association remain otherwise unchanged and will continue to be supported by the secretariat, under the guidance of the Steering Committee and with direction from signatories.  

The secretariat thanks Michael Parker for the invaluable guidance and leadership he has offered throughout his tenure as Chair, as well as Paul Taylor and Stephen Fewster for graciously stepping into the roles of Chair and Vice Chair until the next Annual Meeting.