After the Poseidon Principles committed to a more ambitious decarbonisation target for both ship finance and marine insurance, the initiatives will now look to plot a trajectory towards their tougher benchmarks.

Both Global Maritime Forum groups — created to set up frameworks for benchmarking finance and insurance portfolios against targets to reduce greenhouse gas emissions — have now aligned their targets to a zero-carbon shipping industry by 2050 and a path that meets with the Paris Agreement goals of capping global warming at 1.5C.