Swedbank has signed the Poseidon Principles, a global framework for integrating climate considerations into lending decisions within ship finance, according to the company's release.
The Poseidon Principles provide a standardised methodology for data collection and reporting of emissions from banks’ shipping portfolios, with the overall ambition of supporting and facilitating the decarbonisation of the shipping industry.
Swedbank now joins a group of more than 30 leading banks around the world, covering about 80 per cent of the global ship finance portfolio.
During 2024, Swedbank will complete and publish its first climate alignment assessment according to the principles.