CaixaBank joins Poseidon Principles as first Spanish bank

The Poseidon Principles enable financial institutions to align their ship finance portfolios with responsible environmental behavior and incentivize international shipping decarbonization. As the latest Signatory, CaixaBank commits to collecting emissions data related to its ship finance portfolio, and to publicly reveal how its ship finance activities align with global climate goals.

Roger Torrella, Executive Director of Asset Finance, CaixaBank, said: “As a leading player in the shipping industry, CaixaBank is extremely proud to be the first Spanish financial institution to adhere to Poseidon Principles. 

“This initiative represents a major milestone in our sustainability strategy and provides testimony to our commitment to support shipping clients in their pursuit of climate neutrality. We will work tirelessly together with the organization and our co-members to position the shipping industry at the forefront of environmental sustainability.”

Poseidon Principles Signatories benchmark the climate intensity of their ship finance portfolios against the IMO’s ambition to reduce greenhouse gas emissions from international shipping by at least 50% by 2050. The scores are made public on an annual basis.

“I am pleased to welcome CaixaBank to the Poseidon Principles and am encouraged by the increasing diversity of banks among our ranks. The maritime sector’s success in tackling shipping decarbonization will in large part depend on collaboration. We invite other responsible financial institutions to join the Poseidon Principles and take up their role in promoting responsible environmental stewardship,” added Michael Parker, Chairman of Global Shipping Logistics & Offshore at Citi and Chair of the Poseidon Principles Association.

CaixaBank joins 28 existing Signatories, jointly representing over 50% of the global ship finance portfolio: ABN Amro, BNP Paribas, Bpifrance Assurance Export, Citi, Credit Agricole CIB, Crédit Industriel et Commercial, Credit Suisse, Danish Ship Finance, Danske Bank, DekaBank, Development Bank of Japan, DNB, Export Finance Norway, Finnvera, ING, MUFG Bank, Nordea Bank, OCBC Bank, SACE, SEB, Shinsei Bank, Société Générale, SpareBank 1 SR-Bank, Sparebanken Vest, Standard Chartered Bank, Sumitomo Mitsui Banking Corporation, Sumitomo Mitsui Finance & Leasing, and Sumitomo Mitsui Trust Bank.

Photo credit: iStock/ sandsun

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