AsiaEnvironmentFinance and Insurance

Four more Japanese banks sign up to the Poseidon Principles

Four more Asian financial institutions have signed up to the Poseidon Principles, a framework established in 2019 by leading banks to assess and disclose the climate alignment of ship finance portfolios.

Shinsei Bank, Sumitomo Mitsui Banking Corporation, Sumitomo Mitsui Finance & Leasing, and MUFG Bank – all from Japan – have announced that they have joined the green financing initiative.

Together with Sumitomo Mitsui Trust Bank, which joined in March 2020, five out of the 24 signatories of the Poseidon Principles are now from Japan.

The grouping remains hopeful of a first Chinese signatory soon.

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.
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