Banks to Include CO2 Emission Measures in Shipping Loan Decisions

Source: Inside Climate News


In an initiative called the “Poseidon Principles,” 11 banks are establishing guidelines to measure the carbon intensity of shipping finance portfolios, assessing whether they are in line with the goals of the UN’s International Maritime Organization. The IMO has been inching forward on regulating shipping fuel and recently agreed to stricter energy efficiency targets for certain types of ships, but environmental advocates say much work is still to be done.

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