{"id":1153,"date":"2019-06-12T02:15:33","date_gmt":"2019-06-12T00:15:33","guid":{"rendered":"https:\/\/www.bittedesignstudio.it\/poseidon\/?page_id=1153"},"modified":"2025-03-18T16:31:47","modified_gmt":"2025-03-18T15:31:47","slug":"about","status":"publish","type":"page","link":"https:\/\/www.poseidonprinciples.org\/insurance\/about\/","title":{"rendered":"About"},"content":{"rendered":"

[et_pb_section fb_built=”1″ disabled_on=”on|on|off” _builder_version=”4.16″ custom_margin=”||0px” custom_padding=”||0px” global_colors_info=”{}”][et_pb_row disabled_on=”on|on|off” _builder_version=”4.16″ background_color=”#003d58″ width=”100%” max_width=”2560px” module_alignment=”center” custom_margin=”||” custom_padding=”0px||0px” custom_css_main_element=”position: absolute;||top: 0;||max-width: none;||z-index: 99999;” 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″ custom_padding=”|||” global_colors_info=”{}”][\/et_pb_code][\/et_pb_column][\/et_pb_row][\/et_pb_section][et_pb_section fb_built=”1″ _builder_version=”4.16″ custom_margin=”2%||0px” custom_margin_tablet=”0%||” custom_margin_phone=”” custom_margin_last_edited=”on|tablet” custom_padding=”0px||0px” global_colors_info=”{}”][et_pb_row custom_padding_last_edited=”on|phone” _builder_version=”4.16″ custom_margin=”||” custom_padding_tablet=”||0px” custom_padding_phone=”” global_colors_info=”{}”][et_pb_column type=”4_4″ _builder_version=”4.16″ custom_padding=”|||” global_colors_info=”{}” custom_padding__hover=”|||”][et_pb_text _builder_version=”4.25.1″ text_font=”||||on|||#003d58|” text_text_color=”#003d58″ text_font_size=”22px” text_line_height=”1.5em” header_font=”Roboto Condensed|700|||||||” header_text_color=”#003d58″ header_2_font=”||||||||” custom_padding=”|2%||2%” hover_enabled=”0″ global_colors_info=”{}” sticky_enabled=”0″]<\/p>\n

ABOUT<\/strong><\/p>\n

[\/et_pb_text][\/et_pb_column][\/et_pb_row][et_pb_row _builder_version=”4.16″ custom_margin=”||0px” custom_padding=”||0px” global_colors_info=”{}”][et_pb_column type=”4_4″ _builder_version=”4.16″ custom_padding=”|||” global_colors_info=”{}” custom_padding__hover=”|||”][et_pb_text _builder_version=”4.25.1″ text_font=”||||||||” header_font=”Roboto Condensed||||||||” header_text_color=”#003d58″ header_font_size=”44px” header_line_height=”1.2em” header_2_font=”Roboto Condensed||||||||” header_2_text_color=”#003d58″ header_2_font_size=”28px” header_2_line_height=”1.4em” background_color=”#85b0df” width=”50%” width_tablet=”” width_phone=”” width_last_edited=”on|desktop” custom_margin=”|||” custom_padding=”2%|2%|0px|2%” hover_enabled=”0″ header_font_size_tablet=”22px” header_font_size_phone=”22px” header_font_size_last_edited=”on|phone” header_2_font_size_tablet=”18px” header_2_font_size_phone=”18px” header_2_font_size_last_edited=”on|tablet” global_colors_info=”{}” sticky_enabled=”0″]<\/p>\n

A global framework
for responsible marine insurance<\/h1>\n

[\/et_pb_text][\/et_pb_column][\/et_pb_row][et_pb_row _builder_version=”4.21.0″ _module_preset=”default” global_colors_info=”{}”][et_pb_column type=”4_4″ _builder_version=”4.21.0″ _module_preset=”default” global_colors_info=”{}”][et_pb_text _builder_version=”4.25.1″ _module_preset=”default” text_font=”Roboto Condensed||||||||” text_text_color=”#003d58″ text_font_size=”24px” text_line_height=”1.5em” hover_enabled=”0″ global_colors_info=”{}” sticky_enabled=”0″]<\/p>\n

The Poseidon Principles for Marine Insurance are a global framework for assessing and disclosing the climate alignment of insurers\u2019 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.<\/p>\n

The Poseidon Principles for Marine Insurance must be applied by signatories in all business activities where:<\/p>\n

    \n
  1. \n
      \n
    1. \n
        \n
      1. the insurance products cover hull and machinery (H&M) on 1 October in the emission year.;<\/li>\n
      2. The vessel or vessels have an established Poseidon Principles for Marine Insurance trajectory whereby the emissions intensity can be measured with IMO DCS data.<\/li>\n<\/ol>\n<\/li>\n<\/ol>\n<\/li>\n<\/ol>\n

        Climate alignment is currently the only environmental factor considered by the Poseidon Principles for Marine Insurance<\/p>\n

        Under the current scope, the Poseidon Principles for Marine Insurance are applicable to insurers with H&M policies and underwriters. However, it is recognised that the ecosystem of key players extends beyond this limit, and the framework must be inclusive of these perspectives and their support. Therefore, affiliate membership is applicable to insurance brokers and collective groups, such as insurance associations, unions, captives, and P&I Clubs, and their support is welcome.<\/p>\n

        Signatories commit to implementing the Poseidon Principles for Marine Insurance in their policies, procedures, and standards and to work in partnership with their clients and partners on an ongoing basis to implement the Poseidon Principles for Marine Insurance. Affiliate members commit to supporting the signatories and working together with their partners and clients to improve transparency across their business activities.<\/p>\n

        The Poseidon Principles for Marine Insurance are intended to evolve over time to ensure that they are effective, practical, and up to date to reflect climate goals.<\/p>\n

        [\/et_pb_text][\/et_pb_column][\/et_pb_row][et_pb_row custom_padding_last_edited=”on|tablet” _builder_version=”4.16″ custom_padding=”15px|||||” custom_padding_tablet=”0px||0px” custom_padding_phone=”” global_colors_info=”{}”][et_pb_column type=”4_4″ _builder_version=”4.16″ custom_padding=”|||” global_colors_info=”{}” custom_padding__hover=”|||”][et_pb_text admin_label=”Text” _builder_version=”4.21.0″ text_font=”Roboto Condensed||||||||” text_text_color=”#003d58″ text_font_size=”24px” text_line_height=”1.5em” custom_padding=”|2%||2%” text_font_size_tablet=”14px” text_font_size_phone=”16px” text_font_size_last_edited=”on|phone” global_colors_info=”{}”]<\/p>\n

        TRANSPARENCY INITIATIVES<\/strong><\/p>\n

        The Poseidon Principles for Marine Insurance are part of three initiatives based on the same four Principles<\/a> and developed by the Global Maritime Forum with the shared aim to decarbonise shipping.<\/p>\n

        It all started with the Poseidon Principles for Financial Institutions<\/a> \u2013 a global framework for responsible ship finance launched in June 2019. With 35 signatories, this initiative currently represents around 80% of global ship finance.<\/p>\n

        During the very early stages of the Poseidon Principles for Financial Institutions, some charterers, who were part of the drafting group, voiced the need for a transparent process for reporting emissions relating to chartering activities. This is how the Sea Cargo Charter<\/a> was launched in October 2020. The Sea Cargo Charter provides a global framework for aligning chartering activities with responsible environmental behaviour to promote international shipping\u2019s decarbonisation.<\/p>\n

        The Poseidon Principles for Marine Insurance<\/a> is the most recent initiative that was launched in December 2021, gathering a group of marine insurance institutions committed to aligning their portfolios with responsible environmental impacts.<\/p>\n

        All three initiatives have historically been aligned with the IMO\u2019s 2018 initial ambition for GHG emissions from international shipping to peak as soon as possible and to reduce the total annual GHG emissions by at least 50% by 2050 compared to 2008.\u00a0<\/span><\/p>\n

        All three initiatives are now aligned with the 2023 IMO GHG Strategy which aims for net-zero emissions from international shipping by or around 2050. In their Annual Disclosure Report, they report against this new ambition and the scope expands to include all GHG species and well-to-wake emissions, aligning with the IMO\u2019s revised ambition and upcoming guidance on the life cycle GHG intensity of marine fuels as relevant.<\/span><\/p>\n

        [\/et_pb_text][\/et_pb_column][\/et_pb_row][et_pb_row _builder_version=”4.21.0″ _module_preset=”default” global_colors_info=”{}”][et_pb_column type=”4_4″ _builder_version=”4.21.0″ _module_preset=”default” global_colors_info=”{}”][et_pb_image src=”https:\/\/www.poseidonprinciples.org\/insurance\/wp-content\/uploads\/2023\/11\/Graphical-Design-Transprarency-2023-scaled.jpg” title_text=”Graphical Design Transprarency 2023″ _builder_version=”4.21.0″ _module_preset=”default” global_colors_info=”{}”][\/et_pb_image][\/et_pb_column][\/et_pb_row][\/et_pb_section][et_pb_section fb_built=”1″ _builder_version=”4.16″ custom_margin=”2%||” custom_padding=”2%||” global_colors_info=”{}”][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=”{}”]<\/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=”3.22.6″ 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″ _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>\n

        POSEIDON PRINCIPLES<\/h4>\n

        Privacy Policy<\/a><\/em><\/p>\n

        Finance<\/a> | Insurance<\/u><\/strong><\/div>\n

        [\/et_pb_text][\/et_pb_column][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=”||||||||” text_font_size=”12px” header_font=”||||||||” header_4_font=”|700|||||||” header_4_text_color=”#ffffff” width=”100%” custom_padding=”|0px||||” global_colors_info=”{}”]<\/p>\n

        Get in touch<\/h4>\n
        \n
        \n
        \n
        \n

        Email: info@poseidonprinciples.org<\/a><\/p>\n<\/div>\n<\/div>\n<\/div>\n<\/div>\n

        [\/et_pb_text][\/et_pb_column][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>\n

        Where to find us<\/h4>\n
        \n
        \n
        \n
        \n

        Amaliegade 33 B, 3rd floor
        1256 Copenhagen K
        Denmark
        VAT Number: 43329405<\/p>\n<\/div>\n<\/div>\n<\/div>\n<\/div>\n

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        Follow us<\/h4>\n

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        ABOUTA global frameworkfor responsible marine insuranceThe Poseidon Principles for Marine Insurance are a global framework for assessing and disclosing the climate alignment of insurers\u2019 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. […]<\/p>\n","protected":false},"author":1,"featured_media":0,"parent":0,"menu_order":0,"comment_status":"closed","ping_status":"closed","template":"","meta":{"_et_pb_use_builder":"on","_et_pb_old_content":"","_et_gb_content_width":"","footnotes":""},"class_list":["post-1153","page","type-page","status-publish","hentry"],"yoast_head":"\nAbout - Poseidon Principles for Marine Insurance<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.poseidonprinciples.org\/insurance\/about\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"About - Poseidon Principles for Marine Insurance\" \/>\n<meta property=\"og:description\" content=\"ABOUTA global frameworkfor responsible marine insuranceThe Poseidon Principles for Marine Insurance are a global framework for assessing and disclosing the climate alignment of insurers\u2019 hull and machinery portfolios. 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