Senior leaders from across global shipping finance gathered in Oslo on 28 May for the Poseidon Principles Association's 2026 Annual Meeting, where members agreed on a series of decisions to ensure the industry's leading climate transparency framework remains relevant in an increasingly complex operating environment.
Nearly seven years after its launch, the Poseidon Principles has grown into a globally recognised benchmark for climate-alignment reporting in shipping finance. Today, its 36 signatories across 14 countries represent close to three-quarters of the world's ship finance portfolio. Against a backdrop of geopolitical uncertainty, regulatory change and evolving sustainability expectations, discussions in Oslo focused on how the framework should evolve to remain practical, relevant, and forward-looking.
A key outcome of the meeting was the election of a new leadership team to guide the association through its next phase. Paul Taylor, Global Head of Maritime Industries at Société Générale, was re-elected chair after taking over earlier this year from Michael Parker, Chairman of Citi Shipping, Logistics & Offshore.
"Nearly seven years after its founding, the Poseidon Principles have become a globally recognised framework for transparency and climate alignment in shipping finance," said Taylor. "As the industry navigates an increasingly complex and uncertain landscape, my focus will be on ensuring the framework continues to evolve in a practical and forward-looking way. I'm pleased to continue supporting the Poseidon Principles in the role of chair at such an important moment for both the initiative and the wider shipping industry."
Members also elected Sebastian Blum, Managing Director and Global Head Mobility at KfW IPEX-Bank, as vice chair and Joshua Walter, Executive Director at UBS AG, as treasurer.
"I'm thrilled to take on the role of vice chair at an important moment for both the shipping industry and the Poseidon Principles," said Blum. "The strength of the initiative has always been its ability to bring the industry together around a common objective. At a time when shipping is facing mounting geopolitical, regulatory, and commercial pressures, there is a real opportunity to broaden engagement across financial services, strengthen alignment on climate reporting, and ensure the framework remains both credible and relevant for signatories and their clients alike."
The association also recognised the contribution of Stephen Fewster, Global Head of Shipping Finance at ING, who is stepping back from the leadership team after serving first as treasurer and, most recently, vice chair, to focus on his wider industry commitments, including his role on the board of the Global Maritime Forum.
The most significant strategic discussion in Oslo centred on the future scope of the Poseidon Principles. Following two years of research and engagement with maritime stakeholders, members agreed that crew welfare should become the primary focus of further exploration under the association's Future Principles Committee, which elected Guillaume Dufour, Head of Maritime Finance, Sumitomo Mitsui Banking Corporation, as chair and Ann-Christin Stucke, Sustainability Expert Corporate Banking at ABN AMRO Bank N.V., as vice chair.
While no new reporting requirements have been proposed, the decision reflects growing recognition that shipping's sustainability agenda extends beyond emissions alone. Future work will focus on identifying practical approaches that build on existing frameworks without creating unnecessary burdens for shipowners or financiers.
Signatories also formally established the Poseidon Principles Advisory Council, building on a decision taken at the 2025 Annual Meeting, while discussing opportunities to expand the associate membership category, launched in December 2025. Together, the initiatives reflect a broader effort to bring a wider range of stakeholders and financial institutions into the framework as it continues to evolve, with additional developments expected in the coming months.
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