Headwinds for the Poseidon Principles

The Poseidon Principles provide a platform for financing shipping's sustainable future, but the technical guidance underpinning the initiative remains under scrutiny, suggests James Clayton, at Campbell Johnston Clark

In July 2023 the IMO's Maritime Environment Protection Committee (MEPC) will consider revising the UN agency's strategy on greenhouse gas (GHG) emissions from ships. Moving on from a current target to reduce CO2 emissions from ships by at least 50 per cent by 2050, based on 2008 levels, influential administrations seek to accelerate towards net-zero or even zero by 2050.