PRINCIPLES OVERVIEW

Aligning ship insurance
with society’s goals

The Poseidon Principles for Marine Insurance are a global framework for assessing and disclosing the climate alignment of insurers’ hull and machinery portfolios. They enable the insurance sector to implement transparency and they establish a common, global baseline to quantitatively assess and disclose the climate alignment of the portfolios.

The Poseidon Principles for Marine Insurance are supported by a robust and industry-appropriate climate alignment assessment methodology and carefully considered accountability and enforcement requirements that support practical and robust data collection and analysis practices. The Poseidon Principles for Marine Insurance also establish transparency requirements for Signatories.

Principle 1: Assessment of climate alignment

  • Signatories will, on an annual basis, measure the carbon intensity and assess climate alignment (carbon intensity relative to established decarbonization pathways) of their hull and machinery portfolio using a robust industry-appropriate methodology established by the Poseidon Principles for Marine Insurance.
  • Affiliate members will support Signatories by sharing knowledge about the Assessment principle and climate alignment methodology with relevant stakeholders.

Learn more

Principle 2: Accountability

  • For each step of the assessment, Signatories will exclusively rely on the data types, data sources, and service providers identified in the Technical Guidance.
  • Affiliate members will, for each step of the assessment and as necessary, support Signatories by sharing knowledge about the Accountability principle and data collection process with relevant stakeholders.

Learn more

Principle 3: Enforcement

  • Signatories commit to making compliance with the Poseidon Principles for Marine Insurance contractual in their new business activities. Signatories agree to work with shipowners, clients, brokers, and business partners to collect and process the information necessary to calculate carbon intensity and to assess climate alignment.
  • Affiliate members agree to work with Signatories, shipowners, other marine insurance providers, brokers, and business partners where possible, to support Signatories by sharing knowledge about the Enforcement principle and standardized clauses with relevant stakeholders.

Learn more

Principle 4: Transparency

  • Signatories will publicly acknowledge that they are a Signatory to the Poseidon Principles for Marine Insurance, and all Signatories’ scores will be published annually by the Secretariat of the Poseidon Principles for Marine Insurance.
  • Affiliate members will publicly acknowledge that they are an Affiliate member of the Poseidon Principles for Marine Insurance and parts of their Self-Assessment will be included into the Annual report and published on the website.

Learn more

POSEIDON PRINCIPLES

Privacy Policy

Where to find us

Amaliegade 33 B, 3rd floor
1256 Copenhagen K
Denmark

Follow us