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SEB signs the Poseidon Principles

SEB has signed the Poseidon Principles, joining a group of world leading shipping banks in a new global framework for responsible ship finance. 

The Poseidon Principles are consistent with the policies and ambitions of the International Maritime Organization, a UN agency responsible for regulating shipping globally, including its ambition for GHG emissions to peak as soon as possible and to reduce the total annual GHG emissions by at least 50% by 2050 compared to 2008. SEB’s first reporting of the climate alignment of our shipping portfolio will be in 2021, and the results will be part of SEB’s annual sustainability reporting.

Hans Beyer, chief Sustainability Officer comments:

“It’s a natural step for us at SEB to join the Poseidon Principles. Our commitment to sustainability is based on working with our customers towards a low-carbon society and to join this initiative is a confirmation of that aspiration. This commitment is something that will support our customer relationships and contribute to the long-term value creation to our shareholders.”

Hans Christian Kjelsrud (Global Head Shipping Finance) adds:

“We experience that our customers are ready to make the transition towards a low-carbon economy and the Poseidon Principles enable us to align our credit processes and thereby our lending portfolio with the shipping industry’s transition towards a greener future. We are pleased to join a group of world leading shipping banks in a new global framework for responsible ship finance.”

For more information see: https://www.poseidonprinciples.org/