The new concept of ESG reshapes the funding and governance of shipping

Many banks, predominantly western, have also signed up to the Poseidon Principles, which commit them to reporting on the carbon intensity of their loan portfolios as against the IMO’s decarbonisation trajectories. The focus of major charterers on sustainability is demonstrated by the launch of the Sea Cargo Charter in October 2020.
Therefore, environmental, social and corporate governance (ESG) issues are already influencing financing decisions, fleet renewal and
regulatory change across the industry.
Full article, ELNAVI March 2021, Issue 567, Page. 6
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