EnvironmentFinance and InsuranceGreater China

COSCO SHIPPING Captive Insurance signs up for the Poseidon Principles for Marine Insurance

Photo of Sam Chambers Sam ChambersSeptember 23, 2022
337 Less than a minute

COSCO SHIPPING Captive Insurance, a subsidiary of China’s state-run COSCO, has become the first Asian marine insurance company to support the Poseidon Principles for Marine Insurance, a group that has committed to the creation of a common global baseline for assessing and disclosing the alignment of marine insurance portfolios with climate goals.

Two Asia-based organisations are already members of the Poseidon Principles for Marine Insurance: Singapore’s EF Marine and Hong Kong’s CTX Special Risks.

The 18 signatories to the green insurance group said this week they will add additional trajectories to report climate alignment with the aim of the United Nations and the latest available climate science to limit global warming at 1.5C.

Photo of Sam Chambers Sam ChambersSeptember 23, 2022
337 Less than a minute
Photo of Sam Chambers

Sam Chambers

Starting out with the Informa Group in 2000 in Hong Kong, Sam Chambers became editor of Maritime Asia magazine as well as East Asia Editor for the world’s oldest newspaper, Lloyd’s List. In 2005 he pursued a freelance career and wrote for a variety of titles including taking on the role of Asia Editor at Seatrade magazine and China correspondent for Supply Chain Asia. His work has also appeared in The Economist, The New York Times, The Sunday Times and The International Herald Tribune.
Back to top button