The large number of legislative frameworks of environmental law fundamentally are the products of the ‘normative frenzy’1 that took place from 70’s to the 90’s where the predominant concern was to construct a body of regulations targeting environmental protection.2 However, problems concerning the effective implementation and enforcement of these have gradually emerged and many remain unresolved. The long-neglected enforcement of environmental protection is way beyond the scope of this paper. However, there are global environmental targets and as well legal tools to facilitate complying with trajectories that are designed to achieve these targets. One fundamental issue is that environmental targets concerning the reduction of carbon emissions require wide collaboration. In the context of shipping, polluters to pollute less and financiers to ‘finance greenly’ is now the rule of thumb. The ultimate problem however arises concerning how the rule may be enforced. Environmental concerns have contractual reflections on the ship finance sector and this paper investigates the enforcement of environmental targets through green financing and contract law.