Hellenic Hull founding member of the Poseidon Principles for Marine Insurance

Poseidon Principles
Hellenic Hull Management, managers of American Hellenic Hull Insurance Company, becomes one of the founding members.

Share This Post

Hellenic Hull Management, managers of American Hellenic Hull Insurance Company, becomes one of the founding members of the Poseidon Principles for Marine Insurance (PPMI), the framework for assessing and disclosing the climate alignment of hull and machinery insurance portfolios.

The PPMI initiative enables hull and machinery underwriters to quantitively assess and disclose the climate alignment of their underwriting portfolios. This pioneering initiative makes marine insurance the first line of business to establish a sector-specific methodology to support the ambition of the Net-Zero Insurance Alliance (NZIA), where members commit to transitioning their underwriting portfolios to net-zero GHG emissions by 2050, consistent with a maximum temperature rise of 1.5°C above pre-industrial levels by 2100, in order to contribute to the implementation of the COP21 Paris Agreement.

Furthermore, the initiative aligns to the policies and ambitions of the International Maritime Organization (IMO), including its ambition for greenhouse gas (GHG) emissions to peak as soon as possible and to reduce shipping’s total annual GHG emissions by at least 50% by 2050 compared to 2008. The principles which are not envisioned to be static, include among others, assessment of climate alignment, accountability, enforcement and transparency.

“We are happy to adhere to the Poseidon Principles for Marine Insurance. We firmly believe that this is a step closer to a more responsible shipping industry – and we are sure that we shall be able to support our clients by becoming part of the solution towards a sustainable future for all,” says Mr. Ilias Tsakiris’, Director of Hellenic Hull Management and CEO of American Hellenic Hull.

The ambitious alignment of the Poseidon Principles with the Net Zero Insurance Alliance and PCAF is an encouraging step towards achieving zero emissions. American Hellenic Hull is a proud member of the Net-Zero Insurance Alliance and therefore believes that the PPMI is becoming a proactive initiative aiming to assist clients and stakeholders to a more sustainable environment with tangible measures, while encourages transparency among its members.

“Our membership to the Poseidon Principles for Marine Insurance is part our innovative sustainability strategy and we aspire that this ambitious initiative will act as global benchmark to disclose carbon and GHG intense activities.

We call all marine hull and machinery underwriters to join the Principles assisting in the net zero transition, and hopefully go beyond that to net negative emissions.” underlines Mr. Tsakiris.

Subscribe To Our Newsletter

Transforming Marine Insurance Horizons

More To Explore

 

We use cookies to give you the best online experience. By agreeing you accept the use of cookies in accordance with our Privacy Policy.

 

Terms of Use   Privacy Notice for Candidates

Privacy Settings saved!
Privacy Settings

When you visit any web site, it may store or retrieve information on your browser, mostly in the form of cookies. Control your personal Cookie Services here.

These cookies are necessary for the website to function and cannot be switched off in our systems.

In order to use this website we use the following technically required cookies
  • wordpress_test_cookie
  • wordpress_logged_in_
  • wordpress_sec

Decline all Services
Accept all Services
Scroll to Top

Always by your side

Contact us

Connect

Leave us a message