Second Climate Disclosure In 2025 Highlights Commitment to Consistency, Accountability, and Transparency

Copenhagen, 9 October – The Poseidon Principles for Marine Insurance (PPMI) Association released its Interim Disclosure Report today, marking the second time in 2025 that signatories have published the climate alignment scores of their portfolios. This reporting cadence underscores the PPMI’s commitment to transparency and accountability in tracking emissions.

The report includes results from all eight signatories, who collectively insure approximately 25% of the global fleet within the PPMI’s reporting scope. This is the fourth time signatories have disclosed their climate alignment, and the second time results have been benchmarked against the International Maritime Organization’s (IMO) 2023 Greenhouse Gas Strategy, which aims for net-zero emissions from international shipping by or around 2050.

This additional report was made possible following an adjustment in the reporting requirements made in May after the publication of the Third Annual Disclosure Report in March. All signatories must now rely exclusively on modelled emissions data sourced from a recommended third party. This differs from the report published in March, in which signatories were also allowed to collect data directly from their clients or through IMO recognised organisations.

This change streamlined the reporting process, reduced the burden on clients and partners, and allowed for a more comprehensive assessment of the entire portfolio. Importantly, it also allowed for more recent data to be made publicly available sooner—reducing the reporting lag from around fifteen to nine months—and enabled a more consistent and comprehensive scope across signatories’ hull and machinery portfolios.

Results show that all signatory portfolios remain misaligned with the IMO’s minimum and striving trajectories. For the 2024 sailing year, climate alignment scores were on average 27.4% misaligned with the minimum trajectory and 35.1% misaligned with the striving trajectory, compared to 24.8% and 30.8% misaligned, respectively, in 2023. Despite these increases, signatories highlighted progress in operational efficiency and emissions intensity reduction at the vessel level. External factors, such as disruptions in global supply chains and rerouted voyages due to geopolitical events, contributed to the overall rise in emissions.

In their disclosure, signatories emphasise that enhanced data collection processes have strengthened their ability to support clients in decarbonising through integrating responsible underwriting practices, education, and strategic collaboration. By relying on consistent modelled data, the PPMI has become a stronger tool for benchmarking progress, fostering accountability, and driving collective action across the shipping industry.

The PPMI Interim Disclosure Report demonstrates both the challenges and opportunities of maritime decarbonisation in an uncertain global landscape. As the industry works toward net zero, strong partnerships among insurers, shipowners, and stakeholders remain essential to achieving the IMO’s ambitions.

Media contact:

Nicole Schlichting, Senior Communications Manager and Media (interim). nsc@globalmaritimeforum.org

About the Global Maritime Forum:

The Global Maritime Forum is an international not-for- profit organisation committed to shaping the future of global seaborne trade. It works by bringing together visionary leaders and experts who, through collaboration and collective action, strive to increase sustainable long- term economic development and human well-being.

Established in 2017, the Global Maritime Forum is funded through a combination of grants and partner contributions. It operates independently of any outside influence and does not support individual technologies or companies. Most of its roughly 45-person staff is based in the organisation’s headquarters in Copenhagen, Denmark.

About the Poseidon Principles for Marine Insurance:

The Poseidon Principles for Marine Insurance is a global framework for assessing and disclosing the climate alignment of insurers’ hull and machinery portfolios. Recognising insurers’ role in promoting responsible environmental stewardship throughout the maritime value chain, the Poseidon Principles for Marine Insurance provides them with tools to foster collaboration with clients, gain insight to enhance strategic decision-making and address the impacts of climate change.

The Poseidon Principles for Marine Insurance is one of three initiatives hosted by the Global Maritime Forum based on the same four principles of assessment, accountability, enforcement, and transparency. Together with the Poseidon Principles and the Sea Cargo Charter, they share a common objective: fostering transparency around emissions reporting to reduce emissions within the global shipping industry. Read more.