PRINCIPLE 4

Transparency

The intent of the transparency principle is to ensure both the awareness of the Principles for Marine Insurance, and that accurate information can be published by the Principles for Marine Insurance Secretariat on this website in a timely manner.

We will publicly acknowledge that we are a Signatory to the Poseidon Principles for Marine Insurance, and we will publish the results of our assessment on an annual basis in line with the Technical Guidance.

OUR COMMITMENT
Climate alignment scores will be published on an annual basis.

1. Upon becoming a Signatory, the organization will publicly acknowledge that it is a Signatory to the Poseidon Principles for Marine Insurance.

2. On an annual basis, each Signatory will report the overall climate alignment of its shipping portfolio and supporting information, as per the Accountability requirements, to the Secretariat no later than 30 November. This requirement takes effect for each Signatory in the calendar year after the year in which it became a Signatory.

3. On an annual basis, each Signatory will publish the overall climate alignment of its shipping portfolio in relevant institutional reports on a timeline that is appropriate for that Signatory. This requirement takes effect for each Signatory in the calendar year after the calendar year in which it became a Signatory.

INFORMATION FLOW FOR TRANSPARENCY REQUIREMENTS FOR SIGNATORIES:

AFFILIATE MEMBERS

1. Upon becoming an Affiliate member, the organization will publicly acknowledge that it is an Affiliate member of the Poseidon Principles for Marine Insurance.

2. On an annual basis, no later than 30 November, the Affiliate members will:
a) complete the annual Self-Assessment for Affiliate members, which includes public disclosure requirements for inclusion in the Annual Report;
b) include the disclosure requirements in relevant institutional reports on a timeline that is appropriate for that institution.

These requirements take effect for each Affiliate member in the following calendar year in which it becomes a member.

INFORMATION FLOW FOR TRANSPARENCY REQUIREMENTS FOR AFFILIATE MEMBERS:

Learn more about Transparency in the Technical Guidance