Marine Insurers and industry representatives unite during 2025 Annual Meeting to drive decarbonisation and transparency within shipping

On 20 May in London, AXA XL kindly hosted the 2025 Annual Meeting of the Poseidon Principles for Marine Insurance Association, bringing together all signatories and affiliate members. During the day, signatories approved the year’s work plan and budget, and adjustments of the methodology as well as its trajectories, particularly around modelled data, and charted the initiative’s future direction three years after its launch. In addition, the morning session also welcomed London-based non-signatories for a live session titled “Pivotal years in shipping: how marine insurance can play a key role towards a net-zero future”.

Building on last year’s resolutions, member companies have begun reporting against more ambitious targets in line with the International Maritime Organization’s revised strategy. They are pursuing net-zero greenhouse gas emissions by 2050, with interim checkpoints in 2030 and 2040, and adopting a comprehensive well-to-wake approach. During the dedicated two-hour session, the Poseidon Principles for Marine Insurance convened experts and members to discuss how companies can leverage data and collaborate in driving real impact while unveiling findings from their third Annual Disclosure Report.

“It’s incredible to see how marine insurers are stepping up to play an increasingly influential role in the decarbonisation of maritime transport. Together, we are embedding transparency and climate alignment into the fabric of our industry.” said Patrizia Kern-Ferretti, chair of the Poseidon Principles for Marine Insurance.

“Since taking on the role of vice chair last year, it’s been encouraging to see how the Poseidon Principles for Marine Insurance are fostering collaboration and supporting the industry’s efforts toward positive change,” said Sundeep Khera, vice chair of the Poseidon Principles for Marine Insurance and global head of hull & head of marine & energy UK and Lloyd’s at AXA XL. “By involving insurers in the conversation on climate alignment, we hope our efforts can help support the sector’s progress toward greater resilience and sustainability.”

The Poseidon Principles for Marine Insurance serves as a framework for marine insurers to evaluate and disclose the climate alignment of their activities or concrete efforts supporting decarbonisation. This mechanism enhances industry specific methodology and promotes transparency throughout the maritime supply chain.