The founding Signatories to the Principles, who between them hold a global shipping loan portfolio of around $100 bill, include Citi, Societe Generale, DNB, ABN Amro, Amsterdam Trade Bank, Credit Agricole CIB, Danish Ship Finance, Danske Bank, DVB, ING and Nordea.
Working alongside them, in addition to WFW, were AP Møller Mærsk, Cargill, Euronav and Lloyd’s Register. Support was also received from the Global Maritime Forum, Rocky Mountain Institute and University College London Energy Institute.
WFW Chairman, Nigel Thomas, acted as project lead and sponsor of the WFW team, which helped to develop the Principles, working closely with global maritime sector Head, Lindsey Keeble, professional support lawyer, Elaine Ashplant and partner, Toby Royal.
Partner, Christina Howard prepared the Poseidon Principles Association’s governance rules and membership agreement in conjunction with Danish law firm Gorrissen Federspiel.
Thomas commented: “We’re honoured to have had the opportunity to bring our expertise to bear assisting such a stellar group of signatories develop these Principles, which will help promote responsible environmental behaviour throughout the industry.
“The threats and challenges faced by the world’s seas and oceans are very real and only with initiatives such as this, supported by leading global industry players, can we help address them and ensure we can transition to a greener and better future for all,” he said.