Through this program, Swedbank is positioned to be a proactive influencer and supporter of the ongoing decarbonization initiatives of the maritime industry. Swedbank strengthens its strategic approach to sustainable finance by implementing this worldwide framework, which is in line with its larger environmental goals.

Adopting the Poseidon Principles is Swedbank's new product, which is essentially intended to strengthen its capacity to support the maritime industry's shift to more sustainable operations. These guidelines provide as a crucial benchmark, providing banks with a consistent process for gathering and disclosing emissions related to their shipping holdings. Swedbank's commitment to assisting and enabling the maritime industry's decarbonization process is demonstrated by its adherence to these principles.

Corporate banking, retail banking, wealth management, and other financial services are all part of Swedbank's operating focus. Through the integration of the Poseidon Principles into its ship finance offerings, Swedbank broadens its scope beyond customary banking offerings and engages in worldwide initiatives aimed at reducing ecological footprints and advancing sustainability in the maritime sector.

In this instance, Swedbank's deliberate implementation of the Poseidon Principles is referred to as the product. With the help of this project, the bank will be able to evaluate how well its shipping portfolio aligns with climate change and make sure its lending policies support the shipping industry's decarbonization goals. It demonstrates Swedbank's dedication to environmental protection and its leadership in developing sustainable financing solutions.

By adopting the Poseidon Principles, Swedbank has become a part of an exclusive group of over thirty of the world's top banks, who together oversee more than 80% of the ship finance market. This partnership demonstrates the banking industry's shared goal of guiding the shipping sector toward a more environmentally friendly and carbon-efficient future.

Swedbank intends to comply with the Poseidon Principles and complete and publish its first climate alignment evaluation in 2024, in addition to collaborating with other large banks. This action will increase openness and show how the bank is doing in terms of bringing its ship finance portfolio into line with the objectives of the global decarbonization effort.

"We are pleased to have ratified the Poseidon Principles, which serve as the primary framework for ship finance's climate alignment. This broadens the range of industries in which the bank assesses its environmental effect, strengthening our resolve to assist our clients in becoming more sustainable, according to Johanna Fager Wettergren, Head of Group Sustainability at Swedbank. The shipping industry is crucial to global trade and has superior CO2 efficiency, as noted by Niels R. Bugge, Head of Ocean Industries at Swedbank. He also highlighted the ongoing decarbonization process and Swedbank's increased ability to influence it as a signatory of the Poseidon Principles.