Watson Farley & Williams (WFW) announced on 9 November 2026 that its Managing Partner, Lindsey Keeble, has been appointed Chair of the newly established Poseidon Principles Advisory Council.

According to the firm, the new Advisory Council brings together senior shipowners and other maritime industry stakeholders, alongside the Chair and Vice Chair of the Poseidon Principles Association. Members will serve two-year terms, with the Council meeting two to three times annually to provide industry perspectives to the financial institutions that have signed the Poseidon Principles and offer input on the initiative's future development.

Commenting on her appointment, Keeble said she was honoured to take on the role. She highlighted the importance of transparency, accountability and collaboration as the shipping industry continues its transition towards a more sustainable future. She also expressed her intention to work closely with fellow Council members and industry stakeholders to ensure that the Poseidon Principles remain practical, relevant and effective in supporting the sector's sustainability ambitions.

WFW has been involved in the Poseidon Principles since their inception in 2019, having contributed legal oversight and drafting support during the development of the original framework.

Launched in June 2019 by 11 founding financial institutions, the Poseidon Principles established a common framework for assessing and disclosing the climate alignment of shipping finance portfolios against the International Maritime Organization's (IMO) greenhouse gas reduction objectives.

The framework is built around four principles: Assessment of Climate Alignment, Accountability, Enforcement and Transparency. Signatory institutions are required to assess the emissions performance of their relevant shipping finance portfolios using a standardised methodology and disclose the results annually.

Following the adoption of the IMO's revised greenhouse gas strategy in 2023, the Poseidon Principles updated their methodology to reflect the international shipping industry's objective of achieving net-zero greenhouse gas emissions by or around 2050.

By 2026, the initiative had grown to 36 signatory financial institutions, collectively representing nearly three-quarters of global ship finance. Its membership includes major international lenders such as Citi, BNP Paribas, Crédit Agricole, ING, DNB and Standard Chartered, alongside several Japanese and Nordic financial institutions.

According to the sixth annual Poseidon Principles disclosure report, published in December 2025, the 35 reporting signatories achieved average portfolio coverage of approximately 95%, compared with around 93% in the previous reporting year.

The report also showed that the average deviation of signatories' portfolios from the IMO's minimum emissions reduction trajectory had narrowed by nearly eight percentage points year on year, although their combined portfolios had not yet fully aligned with the relevant decarbonisation pathway.

The Poseidon Principles have also expanded participation beyond traditional shipping lenders.

In late 2025, the initiative began broadening its associate membership framework to accommodate a wider range of financial institutions, including private equity firms, hedge funds and capital markets participants.

On 9 September 2026, the Poseidon Principles announced a further expansion of associate membership eligibility to include protection and indemnity clubs, insurance brokers, reinsurers and other marine insurance organisations, bringing shipping finance and marine insurance stakeholders into closer collaboration under the initiative.

The newly established Advisory Council will provide an additional channel for shipowners and other maritime stakeholders to contribute their perspectives to the Poseidon Principles, supporting dialogue with signatory financial institutions and providing input into the framework's ongoing development.