Progress against milestone 5.2040.1:
Sustainability performance targets are developed and updated on a rolling basis in line with global climate ambitions.
November 15, 2022
The Poseidon Principles are tightening their environmental benchmark to include meeting the Paris Agreement temperature cap.
The new commitment means that signatories will benchmark their portfolios against two trajectories: one aligned with the IMO’s 50% reduction by 2050, and one aligned with net-zero by 2050 and a maximum temperature of 1.5C, to meet the temperature goals of the Paris Agreement.
Source: Poseidon Principles.