TY - JOUR

T1 - The Rush of Green

T2 - the Poseidon Principles

AU - Arda, Asli

PY - 2023

Y1 - 2023

N2 - Poseidon Principles may be seen as tools to achieve ambitious IMO targets of constant carbon emission reduction. These are purely designed to promote responsible environmental behaviour in line with green trajectories. The Poseidon Principles Standard Covenant Clause (SCC) seeks to enable the enforceability of the Principles. There are also elements such as the environmental conditionality of bank loans and Environmental, Social, and Governance (ESG) Clauses that are often inserted in loan agreements to ‘push’ carbon emission reduction targets and mitigate environmental risks. This article investigates the financial tools adopted in the ship finance sector to push green targets.

AB - Poseidon Principles may be seen as tools to achieve ambitious IMO targets of constant carbon emission reduction. These are purely designed to promote responsible environmental behaviour in line with green trajectories. The Poseidon Principles Standard Covenant Clause (SCC) seeks to enable the enforceability of the Principles. There are also elements such as the environmental conditionality of bank loans and Environmental, Social, and Governance (ESG) Clauses that are often inserted in loan agreements to ‘push’ carbon emission reduction targets and mitigate environmental risks. This article investigates the financial tools adopted in the ship finance sector to push green targets.

M3 - Journal article

VL - 23

SP - 1

EP - 3

JO - Lloyd's Shipping and Trade Law

JF - Lloyd's Shipping and Trade Law

IS - 1

ER -