The Poseidon Principles are intended to evolve through a regular review process. They are currently designed to support the 2023 IMO Strategy on Reduction of GHG Emissions from Ships (2023 IMO GHG Strategy), and will continue to develop over time. This also includes the possible addition of environmental factors beyond decarbonisation and climate alignment.<\/p>\n
[\/et_pb_accordion_item][et_pb_accordion_item title=”What role does finance play in maritime decarbonisation?” _builder_version=”4.27.7″ global_colors_info=”{}” open=”off”]<\/p>\n
As a cornerstone of international trade, the shipping industry transports around 90% of all global goods. However, the industry’s significant carbon footprint poses an urgent challenge: for the world to decarbonise, shipping must decarbonise. Financial institutions play a critical role in the decarbonisation of the shipping sector by incentivising and supporting tangible climate action. Transparent climate reporting enables benchmarking of climate impact, which can then inform business decisions. Additionally, financial institutions can build an appetite for sustainability-linked products, increase the capital available for infrastructure and research, and play an important role in equitably distributing these funds worldwide.<\/p>\n
The Poseidon Principles aim to support the decisions of the IMO and the overall direction and priorities of the international shipping industry, which is why the decarbonisation trajectories used within the Poseidon Principles are aligned with the decarbonisation goals set by the IMO\u2019s 2023 GHG Strategy.\u00a0 <\/span>While the work of the IMO guides the Poseidon Principles, it does not dictate them. For example, the postponement of the Net-Zero Framework at MEPC 83 in October 2025 does not impact the Poseidon Principles. The methodology will continue to evolve as available data increase and as the IMO addresses the regulations necessary to implement its ambition.<\/p>\n [\/et_pb_accordion_item][et_pb_accordion_item title=”What is the IMO?” _builder_version=”4.27.7″ _module_preset=”default” global_colors_info=”{}” open=”off”]<\/p>\n The International Maritime Organisation (IMO) is the United Nations’ specialised agency with responsibility for the safety and security of shipping and the prevention of marine and atmospheric pollution by ships.<\/p>\n [\/et_pb_accordion_item][et_pb_accordion_item title=”What is the IMO\u2019s greenhouse gas strategy?” _builder_version=”4.27.7″ _module_preset=”default” global_colors_info=”{}” open=”off”]<\/p>\n The IMO first approved an initial greenhouse gas (GHG) strategy in April 2018. This strategy aimed to reduce greenhouse gas emissions from international shipping by at least 50% by 2050, whilst pursuing efforts to phase them out as soon as possible in this century.<\/p>\n \u00a0Following this initial strategy, the IMO approved a revised strategy in July 2023, known as the 2023 IMO Strategy on Reduction of GHG Emissions from Ships (2023 IMO GHG Strategy), which aims to achieve net-zero GHG emissions from international shipping by or around 2050. Moreover, any activity related to emission reduction and climate alignment in shipping will need to capture life cycle emissions (a well-to-wake approach) as well as all the relevant GHG species as specified by the IMO.<\/p>\n The 2023 IMO GHG Strategy sets out to:<\/p>\n This strategy also aims for the:<\/p>\n \u00a0The strategy states that a basket of measures, delivering on the reduction targets, should be developed to promote the energy transition of shipping and provide the world fleet with the needed incentive, while contributing to a level playing field and a just and equitable transition.\u00a0<\/p>\n The IMO formally reviews its greenhouse gas strategy every five years. The first review of the 2023 IMO GHG Strategy is set for 2028. In addition to the strategies, the IMO has commissioned comprehensive scientific reports since 2000 to track greenhouse gas emissions. The next study (5th<\/sup> IMO GHG Study) is also expected to be published in 2028. \u00a0<\/span><\/p>\n [\/et_pb_accordion_item][et_pb_accordion_item title=”What do the four principles mean?” _builder_version=”4.27.7″ _module_preset=”default” global_colors_info=”{}” open=”off”]<\/p>\n The four principles are assessment, accountability, enforcement, and transparency. Signatories commit to implementing the principles in their internal policies, procedures and standards. Associate members signal their support for the Poseidon Principles but have no formal reporting requirements. Instead, they are encouraged to utilise the methodology internally where appropriate and to be transparent about their activities in their own reporting processes. Associate members who are able to report will be encouraged to do so within the first three years of their membership and become a signatory within a reasonable timeline.<\/p>\n \n [\/et_pb_accordion_item][et_pb_accordion_item title=”When were the Poseidon Principles launched?” _builder_version=”4.27.7″ _module_preset=”default” global_colors_info=”{}” open=”off”]<\/p>\n The Poseidon Principles were launched on 18 June 2019 with eleven signatories.<\/p>\n [\/et_pb_accordion_item][et_pb_accordion_item title=”How were the Poseidon Principles developed?” _builder_version=”4.27.7″ _module_preset=”default” global_colors_info=”{}” open=”off”]<\/p>\n The Poseidon Principles were developed through a global consultation process. They borrow the concept of creating globally agreed common baselines that can act as established minimum standards from the Equator Principles. The development work was led by a drafting group spearheaded by global shipping banks \u2013 Citi, Societe Generale, and DNB \u2013 in collaboration with leading industry players \u2013 A.P. M\u00f8ller M\u00e6rsk, Cargill, Euronav, Gram Car Carriers, Lloyd’s Register and Watson Farley & Williams \u2013 with expert support provided by the Global Maritime Forum, Rocky Mountain Institute and University College London Energy Institute (UMAS).<\/p>\n Workshops and presentations were held in 2018 across Singapore, London, NYC, and Hong Kong to elicit feedback from approximately 20 financial institutions on the development of the Poseidon Principles. In addition, shipowners of varying sizes and geographies have been engaged and consulted throughout the process of developing the Poseidon Principles. A first draft was presented and discussed at a session held in conjunction with the Global Maritime Forum’s Annual Summit in Hong Kong in October 2018. Participants there welcomed the launch of the Poseidon Principles with great enthusiasm.<\/p>\n \u00a0A broader group of NGOs and other stakeholders were also kept informed throughout the process. Currently, the Global Maritime Forum serves as the secretairt of the Poseidon Principles Association, and CE Delft serves as the technical advisory. UMAS served as the technical advsiory from launch until the end of 2025.<\/span><\/p>\n [\/et_pb_accordion_item][et_pb_accordion_item title=”How do the Poseidon Principles relate to other environmental frameworks?” open=”off” _builder_version=”4.27.7″ _module_preset=”default” global_colors_info=”{}”]<\/p>\n By making valuable asset-level climate alignment data available to financial institutions, the Poseidon Principles aim to support other frameworks, including the Task Force on Climate-related Financial Disclosures (TCFD), the Principles for Responsible Banking, the Carbon Disclosure Project, and the Energy Transitions Commission. In addition, the current methodological approach has been endorsed by the Science Based Targets (SBTi) Financial Institutions Net-Zero Standards. Other transparency initiatives, such as those led by SBTi and the NZBA, acknowledge that the Poseidon Principles have a standard for climate-related disclosure by financial institutions. <\/span><\/p>\n \u00a0The Poseidon Principles Association closely collaborates with the Sea Cargo Charter Association, which is a framework for aligning chartering activities with responsible environmental behaviour. The Sea Cargo Charter relies on the same four principles, along with secreta<\/span>r<\/span>i<\/span>a<\/span>t support by the Global Maritime Forum. While the core of the frameworks is the same, the Poseidon Principles and the Sea Cargo Charter are built to support the unique situations of their members and are governed by their own Steering Committees. <\/span><\/p>\n [\/et_pb_accordion_item][\/et_pb_accordion][et_pb_text _builder_version=”4.27.7″ header_font=”Roboto Condensed||||||||” header_text_color=”#003d58″ header_font_size=”44px” header_2_font=”Roboto Condensed||||||||” header_2_text_color=”#003d58″ header_2_font_size=”28px” header_2_line_height=”1.4em” background_color=”#c8cf44″ custom_padding=”10px|2%|0px|2%” header_font_size_tablet=”22px” header_font_size_phone=”” header_font_size_last_edited=”on|phone” custom_css_main_element=”display: inline-block;” global_colors_info=”{}”]<\/p>\n [\/et_pb_text][et_pb_accordion open_toggle_text_color=”#c8cf44″ open_toggle_background_color=”rgba(0,0,0,0)” closed_toggle_text_color=”#c8cf44″ closed_toggle_background_color=”rgba(0,0,0,0)” _builder_version=”4.27.7″ toggle_text_color=”#c8cf44″ toggle_font=”Roboto Condensed||||||||” toggle_font_size=”30px” body_font=”Roboto Condensed||||||||” body_text_color=”#003d58″ body_font_size=”24px” text_orientation=”left” custom_margin=”||10%” toggle_font_size_tablet=”18px” toggle_font_size_phone=”” toggle_font_size_last_edited=”on|phone” body_font_size_tablet=”16px” body_font_size_phone=”” body_font_size_last_edited=”on|phone” border_width_all=”0px” border_color_top=”#003d58″ border_width_bottom=”2px” border_color_bottom=”#003d58″ global_colors_info=”{}”][et_pb_accordion_item title=”What institutions can join as a signatory?” _builder_version=”4.27.7″ _module_preset=”default” global_colors_info=”{}” open=”on”]<\/p>\n Signatory membership is applicable to lenders, lessors, and financial guarantors, including export credit agencies (ECA) whose business activities include those:<\/p>\n [\/et_pb_accordion_item][et_pb_accordion_item title=”What institutions can join as an associate member?” _builder_version=”4.27.7″ _module_preset=”default” global_colors_info=”{}” open=”off”]<\/p>\n Associate membership is applicable to:<\/p>\n [\/et_pb_accordion_item][et_pb_accordion_item title=”What is the process of becoming a member?” _builder_version=”4.27.7″ _module_preset=”default” global_colors_info=”{}” open=”off”]<\/p>\n Institutions wishing to become signatories or associate members of the Poseidon Principles must submit the Standard Declaration, Membership Agreement, and Application to the secretariat of the Poseidon Principles Association. For signatories only, a Self-Assessment must also be submitted to the secretariat within five months of joining. The secretariat reviews the documents and coordinates with the new member on the administrative steps of formally becoming a member.<\/p>\n \u00a0Upon joining, signatories and associate members automatically become members of the Poseidon Principles Association, the non-profit association responsible for maintaining and promoting the principles.<\/p>\n \u00a0All documents are available from the secretariat.<\/p>\n [\/et_pb_accordion_item][et_pb_accordion_item title=”What is the purpose of the Standard Declaration?” _builder_version=”4.27.7″ _module_preset=”default” global_colors_info=”{}” open=”off”]<\/p>\n The Standard Declaration differs slightly for signatories and associate members.<\/p>\n The Standard Declaration for Signatories is the formal commitment required of the financial institution to become a signatory. It announces the financial institution’s intent to comply with all requirements of the principles.<\/p>\n \u00a0The Standard Declaration for Associate Members is the formal commitment required of the financial institution to become an associate member. It announces the financial institution\u2019s intent to support the Poseidon Principles.<\/p>\n [\/et_pb_accordion_item][et_pb_accordion_item title=”What is the purpose of the Application?” _builder_version=”4.27.7″ _module_preset=”default” global_colors_info=”{}” open=”off”]<\/p>\n The same Application is used for both signatories and associate members.<\/p>\n \u00a0The Application outlines the responsible contacts for regular communication with the new member, including reporting, invoicing, and other necessary functions, so that the Poseidon Principles are implemented and maintained by the financial institution.<\/p>\n [\/et_pb_accordion_item][et_pb_accordion_item title=”What is the purpose of the Membership Agreement?” _builder_version=”4.27.7″ _module_preset=”default” global_colors_info=”{}” open=”off”]<\/p>\n The same Membership Agreement is used for both signatories and associate members.<\/p>\n The Membership Agreement is the formal agreement between the financial institution and the Poseidon Principles Association for the institution to become a member of the association. By signing the membership agreement, the new member agrees to abide by the Governance Rules.<\/p>\n [\/et_pb_accordion_item][et_pb_accordion_item title=”What is the purpose of the Self-Assessment?” _builder_version=”4.27.7″ _module_preset=”default” global_colors_info=”{}” open=”off”]<\/p>\n Only signatories are required to submit the Self-Assessment within five months of joining the association.<\/p>\n The purpose of the Self-Assessment is to ensure that each signatory has made appropriate arrangements to fulfil its obligations under the Poseidon Principles and identified any challenges to doing so. The Self-Assessment is as brief as possible to reduce the administrative burden, while still addressing the core responsibilities of signatories to the Poseidon Principles. The questions focus on ensuring that signatories are aware of timelines and obligations under the Poseidon Principles, have engaged internal stakeholders and clients, and have a plan to work with the necessary service providers to complete their climate alignment assessment.<\/p>\n [\/et_pb_accordion_item][et_pb_accordion_item title=”What are the benefits of joining?” _builder_version=”4.27.7″ _module_preset=”default” global_colors_info=”{}” open=”off”]<\/p>\n The Poseidon Principles were developed to recognise financial institutions’ role in promoting environmental stewardship throughout the maritime value chain. Members will be recognised for participating in a leading transparency initiative. Furthermore, members can access valuable asset-level information to assess potential climate risks and support responsible decision-making.\u00a0<\/p>\n Some benefits of joining the Poseidon Principles Association include:<\/p>\n [\/et_pb_accordion_item][et_pb_accordion_item title=”Is there a way to endorse, or be endorsed by, the Poseidon Principles as a non-financial institution, third party, or service provider?” _builder_version=”4.27.7″ _module_preset=”default” global_colors_info=”{}” open=”off”]<\/p>\n Currently, there is no official way to endorse, join, or formally support the Poseidon Principles outside of signatory and associate membership.\u00a0<\/p>\n In addition, while the Poseidon Principles recognise the important role that third-party verification mechanisms and service providers play in providing unbiased information to the industry, they do not formally endorse any third parties or service providers. Signatories are free to work with any third party and\/or service provider of their choice. It is their responsibility to ensure that the provider performs services for them using the latest available Poseidon Principles methodology.<\/p>\n [\/et_pb_accordion_item][et_pb_accordion_item title=”What are the fees for members?” open=”off” _builder_version=”4.27.7″ _module_preset=”default” global_colors_info=”{}”]<\/p>\n All members are required to pay an annual fee each year to support the association\u2019s activities. Upon joining, a one-time sign-on fee is also required, meaning that in the first year of membership, both the annual and sign-on fees must be paid. The fee amounts are set each year by the signatories. Associate member fees are half of signatory fees.<\/p>\n The annual fee for 2026 is \u20ac10,000 for signatories and \u20ac5,000 for associate members. The sign-on fee for 2026 is \u20ac12,000 for new signatories and \u20ac6,000 for new associate members.<\/p>\n [\/et_pb_accordion_item][\/et_pb_accordion][et_pb_text _builder_version=”4.27.7″ header_font=”Roboto Condensed||||||||” header_text_color=”#003d58″ header_font_size=”44px” header_2_font=”Roboto Condensed||||||||” header_2_text_color=”#003d58″ header_2_font_size=”28px” header_2_line_height=”1.4em” background_color=”#c8cf44″ custom_padding=”10px|2%|0px|2%” header_font_size_tablet=”22px” header_font_size_phone=”” header_font_size_last_edited=”on|phone” custom_css_main_element=”display: inline-block;” global_colors_info=”{}”]<\/p>\n [\/et_pb_text][et_pb_accordion open_toggle_text_color=”#c8cf44″ open_toggle_background_color=”rgba(0,0,0,0)” closed_toggle_text_color=”#c8cf44″ closed_toggle_background_color=”rgba(0,0,0,0)” admin_label=”Accordion” _builder_version=”4.27.7″ toggle_text_color=”#c8cf44″ toggle_font=”Roboto Condensed||||||||” toggle_font_size=”30px” body_font=”Roboto Condensed||||||||” body_text_color=”#003d58″ body_font_size=”24px” text_orientation=”left” custom_margin=”||10%” toggle_font_size_tablet=”18px” toggle_font_size_phone=”” toggle_font_size_last_edited=”on|phone” body_font_size_tablet=”16px” body_font_size_phone=”” body_font_size_last_edited=”on|phone” border_width_all=”0px” border_color_top=”#003d58″ border_width_bottom=”2px” border_color_bottom=”#003d58″ global_colors_info=”{}”][et_pb_accordion_item title=”What data do signatories collect?” open=”on” _builder_version=”4.27.7″ _module_preset=”default” global_colors_info=”{}”]<\/p>\n The data signatories need to collect is the same verified data that shipowners submit to the IMO DCS annually. The IMO DCS came into effect in January 2019, making it mandatory for all ships of 5,000 gross tonnage and above engaged in international shipping to collect and annually report specific information to their flag states.<\/p>\n Since the information signatories need to collect mirrors the requirements of the IMO DCS, it ensures that the Poseidon Principles are consistent with regulation and reduces additional burden on clients.<\/p>\n The specific data to collect includes:<\/p>\n \u00a0Data must be accompanied by a Verification Letter or a Statement of Compliance (SoC) in line with the IMO DCS requirements.<\/p>\n [\/et_pb_accordion_item][et_pb_accordion_item title=”How do signatories collect data? ” _builder_version=”4.27.7″ _module_preset=”default” global_colors_info=”{}” open=”off”]<\/p>\n Signatories can collect the necessary data in one of two ways: through a recognised organisation (RO) or directly from their clients (shipowners). Signatories are encouraged to use the Standard Covenant Clause wording for all new business activities to ensure annual access to the required data. In addition, a recommended data collection template is provided by the secretairt to create an aligned approach across signatories and their clients.<\/p>\n [\/et_pb_accordion_item][et_pb_accordion_item title=”What is the Standard Covenant Clause?” _builder_version=”4.27.7″ _module_preset=”default” global_colors_info=”{}” open=”off”]<\/p>\n For the purposes of the Poseidon Principles, the Standard Covenant Clause is a recommended clause that signatories may include in all new business activities to ensure access to data necessary to comply with the Poseidon Principles. Lenders are within their rights under most current loan covenants to request disclosure of this data. At the request of shipowners, the Poseidon Principles Association provides signatories with a standard clause so clients do not need to negotiate similar wording with every lender.<\/p>\n While the covenant wording is strongly recommended, it is not compulsory for signatories. However, if all signatories start using it in new loan agreements, it will, de facto, be in common use. There is no suggestion that existing loan agreements should be amended. The Standard Covenant Clause is available on the resources page.<\/p>\n [\/et_pb_accordion_item][et_pb_accordion_item title=”What are recognised organisations (ROs)?” _builder_version=”4.27.7″ _module_preset=”default” global_colors_info=”{}” open=”off”]<\/p>\n A recognised organisation is a private and independent body authorised by a government or flag state to perform statutory requirements on behalf of a vessel’s flag state. While typically a Classification Society, in the case of the IMO DCS, independent verifiers have also been authorised by some flag states. The specific list of ROs may differ from flag state to flag state.<\/p>\n The association and the secretairt do not recommend or approve ROs, but operate on a basis of trust that all ROs authorised by the IMO will be acceptable to perform services required to comply with the Poseidon Principles.<\/p>\n [\/et_pb_accordion_item][et_pb_accordion_item title=”Is it possible to source all data from a single classification society, even if all vessels are not classed by the same classification society?” _builder_version=”4.27.7″ _module_preset=”default” global_colors_info=”{}” open=”off”]<\/p>\n Yes. All classification societies are members of the International Association of Classification Societies (IACS) and can work together to share the necessary data with signatories.<\/p>\n [\/et_pb_accordion_item][et_pb_accordion_item title=”Are there any consequences if signatories are unable to obtain data for all vessels in scope of reporting?” _builder_version=”4.27.7″ _module_preset=”default” global_colors_info=”{}” open=”off”]<\/p>\n No. While lenders are well within their rights to ask their clients to share the necessary information, it is recognised that collecting 100% of the relevant data may not be possible in some circumstances. To ensure transparency, signatories are required to disclose the percentage of the eligible portfolio included in their climate alignment scores, known as the reporting percentage.<\/p>\n [\/et_pb_accordion_item][\/et_pb_accordion][et_pb_text _builder_version=”4.16″ header_font=”Roboto Condensed||||||||” header_text_color=”#003d58″ header_font_size=”44px” header_2_font=”Roboto Condensed||||||||” header_2_text_color=”#003d58″ header_2_font_size=”28px” header_2_line_height=”1.4em” background_color=”#c8cf44″ custom_padding=”10px|2%|0px|2%” header_font_size_tablet=”22px” header_font_size_phone=”” header_font_size_last_edited=”on|phone” custom_css_main_element=”display: inline-block;” global_colors_info=”{}”]<\/p>\n [\/et_pb_text][et_pb_accordion open_toggle_text_color=”#c8cf44″ open_toggle_background_color=”rgba(0,0,0,0)” closed_toggle_text_color=”#c8cf44″ closed_toggle_background_color=”rgba(0,0,0,0)” admin_label=”Accordion” _builder_version=”4.27.7″ toggle_text_color=”#c8cf44″ toggle_font=”Roboto Condensed||||||||” toggle_font_size=”30px” body_font=”Roboto Condensed||||||||” body_text_color=”#003d58″ body_font_size=”24px” text_orientation=”left” custom_margin=”||10%” toggle_font_size_tablet=”18px” toggle_font_size_phone=”” toggle_font_size_last_edited=”on|phone” body_font_size_tablet=”16px” body_font_size_phone=”” body_font_size_last_edited=”on|phone” border_width_all=”0px” border_color_top=”#003d58″ border_width_bottom=”2px” border_color_bottom=”#003d58″ global_colors_info=”{}”][et_pb_accordion_item title=”What exactly do signatories report?” open=”on” _builder_version=”4.27.7″ _module_preset=”default” global_colors_info=”{}”]<\/p>\n Each year, signatories submit a completed reporting template to the secretarit for publication in the Annual Disclosure Report. The following information is required to be disclosed publicly:<\/p>\n \u00a0In addition to the required public disclosure, the following information is also required to be disclosed internally to the association:<\/p>\n \u00a0The reporting template is kept up to date by the secretariat and is available on the website.<\/p>\n [\/et_pb_accordion_item][et_pb_accordion_item title=”How are portfolio climate alignment score published?” _builder_version=”4.27.7″ _module_preset=”default” global_colors_info=”{}” open=”off”]<\/p>\n The Poseidon Principles Association publishes signatories’ portfolio climate alignment scores in an annual report each December. In addition to publishing the scores, the report provides additional context to interpret the results correctly. The previous reports can be found on the resources page.<\/p>\n Signatories are also required to publish their portfolio climate alignment scores in relevant institutional reports (e.g., sustainability reports) on a timeline appropriate for them. There is, however, nothing to prevent individual signatories from publishing their climate alignment at a more granular level, for example, by vessel category, if they so choose.<\/p>\n [\/et_pb_accordion_item][et_pb_accordion_item title=”What is the reporting percentage?” _builder_version=”4.27.7″ _module_preset=”default” global_colors_info=”{}” open=”off”]<\/p>\n The reporting percentage is the percentage of the in-scope portfolio that is represented in the published portfolio climate alignment scores. This percentage is calculated against the signatory’s debt in the portfolio and gets published in the Annual Disclosure Report alongside the signatory’s climate alignment score.<\/p>\n Signatories are required to annually disclose this information publicly.<\/p>\n [\/et_pb_accordion_item][et_pb_accordion_item title=”Is there a minimum reporting percentage threshold required to report portfolio climate alignment scores?” _builder_version=”4.27.7″ _module_preset=”default” global_colors_info=”{}” open=”off”]<\/p>\n While there is no minimum reporting percentage threshold that signatories must reach in order to report their portfolio, signatories are required to disclose the percentage of their eligible loan book that they have not included in the calculations of climate alignment.<\/p>\n [\/et_pb_accordion_item][et_pb_accordion_item title=”If signatories complete the calculations internally, will an external audit be required?” _builder_version=”4.27.7″ _module_preset=”default” global_colors_info=”{}” open=”off”]<\/p>\n There are no external audit requirements for signatories who choose to complete any part of the calculations internally. However, in practice, some signatories will choose to have an independent assessment or audit of the calculations in line with their other reporting activities and requirements. In addition, signatories disclose the method of their calculations internally to other signatories and the secretairt. The technical adviser reviews and quality-checks all submitted portfolio alignment scores before publication.<\/p>\n [\/et_pb_accordion_item][\/et_pb_accordion][et_pb_text _builder_version=”4.27.7″ header_font=”Roboto Condensed||||||||” header_text_color=”#003d58″ header_font_size=”44px” header_2_font=”Roboto Condensed||||||||” header_2_text_color=”#003d58″ header_2_font_size=”28px” header_2_line_height=”1.4em” background_color=”#c8cf44″ custom_padding=”10px|2%|0px|2%” header_font_size_tablet=”22px” header_font_size_phone=”” header_font_size_last_edited=”on|phone” custom_css_main_element=”display: inline-block;” global_colors_info=”{}”]<\/p>\n [\/et_pb_text][et_pb_accordion open_toggle_text_color=”#c8cf44″ open_toggle_background_color=”rgba(0,0,0,0)” closed_toggle_text_color=”#c8cf44″ closed_toggle_background_color=”rgba(0,0,0,0)” admin_label=”Accordion” _builder_version=”4.27.7″ toggle_text_color=”#c8cf44″ toggle_font=”Roboto Condensed||||||||” toggle_font_size=”30px” body_font=”Roboto Condensed||||||||” body_text_color=”#003d58″ body_font_size=”24px” text_orientation=”left” custom_margin=”||10%” toggle_font_size_tablet=”18px” toggle_font_size_phone=”” toggle_font_size_last_edited=”on|phone” body_font_size_tablet=”16px” body_font_size_phone=”” body_font_size_last_edited=”on|phone” border_width_all=”0px” border_color_top=”#003d58″ border_width_bottom=”2px” border_color_bottom=”#003d58″ global_colors_info=”{}”][et_pb_accordion_item title=”How are the Poseidon Principles Association governed?” _builder_version=”4.27.7″ _module_preset=”default” global_colors_info=”{}” open=”on”]<\/p>\n The Poseidon Principles Association is the body that manages, administers and develops the Poseidon Principles. Upon joining, both signatories and associate members become members of the Poseidon Principles Association, and all members abide by a set of Governance Rules. The Governance Rules provide guidance to existing and prospective members on how the association operates, including membership responsibilities and decision-making procedures.<\/p>\n The Steering Committee is responsible for coordinating the association\u2019s activities on behalf of its members. An Advsiory Council is also consulted as relevant to ensure that the Poseidon Principles methodologies and initiatives reflect current industry dynamics and the practical implications for clients.<\/p>\n \u00a0The Poseidon Principles Association is also supported by a technical advisory and a secretairt.<\/p>\n [\/et_pb_accordion_item][et_pb_accordion_item title=”Who is on the Steering Committee, and what are they responsible for?” _builder_version=”4.27.7″ _module_preset=”default” global_colors_info=”{}” open=”off”]<\/p>\n The Steering Committee is comprised of a select number of elected signatories, each with two representatives. The Governance Rules lay out the method in which signatories are elected to the Steering Committee, and it\u2019s expected that the representatives hold a senior position relevant to the Poseidon Principles. Steering Committee members are elected (or re-elected) every two years. After these elections, the Steering Committee appoints one member to serve as the chair, one as the vice chair, and one as the treasurer. The current members are listed on the website.<\/p>\n \u00a0The Steering Committee is responsible for coordinating the association\u2019s activities on behalf of its members. This includes forming and directing working groups, approving annual budgets and fees, recommending developments to the methodology and framework, and helping set the strategic direction of the association. Signatories are eligible to nominate themselves to the Steering Committee, whereas associate members are not.<\/p>\n \u00a0The Steering Committee meets approximately quarterly. Members of the Steering Committee are volunteers and are therefore not compensated by the Association.<\/p>\n [\/et_pb_accordion_item][et_pb_accordion_item title=”What is the role of the Advisory Council?” open=”off” _builder_version=”4.27.7″ _module_preset=”default” global_colors_info=”{}”]<\/p>\n The Advisory Council is a forum of leading shipowners and maritime stakeholders who will be consulted on key issues affecting the sector and their implementation within the Poseidon Principles. Its role is advisory only, and insights will help ensure that the Poseidon Principles methodologies and initiatives reflect current industry dynamics and the practical implications for clients. The Advisory Council is composed of a cross-section of interested actors from the maritime industry, the Poseidon Principles Association Chair and Vice Chair, and working group chairs when relevant. Advisory Council members are invited to serve for a period of two years and are volunteers, so they are not compensated.<\/p>\n [\/et_pb_accordion_item][et_pb_accordion_item title=”What role do members play in governing the association? ” _builder_version=”4.27.7″ _module_preset=”default” global_colors_info=”{}” open=”off”]<\/p>\n [\/et_pb_accordion_item][et_pb_accordion_item title=”What is the role of the secretariat? ” _builder_version=”4.27.7″ _module_preset=”default” global_colors_info=”{}” open=”off”]<\/p>\n The secretariat is to maintain the day-to-day business and administration of the Poseidon Principles Association, the Steering Committee, the working groups and the members. The secretariat serves a facilitative role at all association meetings and is responsible for membership and information management. The secretariat has no decision-making power. The secretariat role can be fulfilled by a relevant non-profit and independent third-party entity and is currently provided by the Global Maritime Forum.<\/p>\n [\/et_pb_accordion_item][et_pb_accordion_item title=”What is the role of the technical advisory?” _builder_version=”4.27.7″ _module_preset=”default” global_colors_info=”{}” open=”off”]<\/p>\n The technical advisory guides technical discussions and provides relevant technical expertise and support to the association. The technical advisory ensures that the methodology used by members is current, relevant, and simple to implement. The technical advisory is also part of the Technical Committee and participates in other association meetings as relevant. The technical advisory has no decision-making power. The current technical advisory is CE Delft.<\/p>\n [\/et_pb_accordion_item][et_pb_accordion_item title=”Who do I contact with additional questions?” _builder_version=”4.27.7″ _module_preset=”default” global_colors_info=”{}” open=”off”]<\/p>\n Please send any additional questions to the secretariat at info@poseidonprinciples.org.<\/p>\n [\/et_pb_accordion_item][\/et_pb_accordion][\/et_pb_column][\/et_pb_row][et_pb_row _builder_version=”4.16″ custom_margin=”2%||” locked=”off” global_colors_info=”{}”][et_pb_column type=”4_4″ _builder_version=”4.16″ custom_padding=”|||” global_colors_info=”{}” custom_padding__hover=”|||”][et_pb_code _builder_version=”4.16″ text_orientation=”center” custom_margin=”||0.5%” global_colors_info=”{}”]\n
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Membership<\/h1>\n
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Data collection<\/h1>\n
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Climate alignment<\/h1>\n
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Governance
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<\/a>[\/et_pb_code][et_pb_text _builder_version=”4.16″ text_font=”Roboto Condensed|700|||||||” text_text_color=”#003d58″ text_orientation=”center” global_colors_info=”{}”]back to top<\/a>[\/et_pb_text][\/et_pb_column][\/et_pb_row][\/et_pb_section][et_pb_section fb_built=”1″ _builder_version=”4.16″ background_color=”#003d58″ custom_margin=”||” custom_padding=”2%||2%” global_module=”1964″ global_colors_info=”{}”][et_pb_row column_structure=”1_4,1_4,1_4,1_4″ admin_label=”Row” _builder_version=”4.16″ global_colors_info=”{}”][et_pb_column type=”1_4″ _builder_version=”4.16″ custom_padding=”|||” global_colors_info=”{}” custom_padding__hover=”|||”][et_pb_text _builder_version=”4.16″ text_font=”||||||||” header_font=”||||||||” header_4_font=”|700|||||||” header_4_text_color=”#ffffff” global_colors_info=”{}”]<\/p>\nPOSEIDON PRINCIPLES<\/h4>\n
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<\/a>\u00a0\u00a0[\/et_pb_code][\/et_pb_column][\/et_pb_row][\/et_pb_section]<\/p>\n","protected":false},"excerpt":{"rendered":"