April 12, 2022, by Naida Hakirevic Prevljak

Italian insurance broker and shipping agency Cambiaso Risso has joined the Poseidon Principles for Marine Insurance, the global framework for responsible marine insurance, as an affiliate member. 

“Corporate Social Responsibility is a must of our company philosophy. We feel that joining Poseidon Principles for Marine Insurance will enhance Cambiaso Risso ESG strategy and will be a step forward to achieve our goals,” Mauro Iguera, CEO of Cambiaso Risso Group, commented.

“I look forward to working together with Cambiaso Risso Group on promoting accountability and emission transparency in the maritime industry. Brokers are in a unique position to encourage environmentally friendly practices in the maritime value chain,” Patrizia Kern, Head Marine at Swiss Re Corporate Solutions and Chair of the Poseidon Principles for Marine Insurance drafting committee, said.

In mid-December 2021, six marine insurers the Poseidon Principles for Marine Insurance to provide transparency on carbon emissions and support the shipping industry’s green transition.

The Poseidon Principles for Marine Insurance establish a common global framework for aligning marine insurance portfolios with society’s goals. Through their actionable methodology, the principles enable insurers to quantitatively assess the carbon footprint of their underwriting portfolios and track progress against targets.

Signatory insurers commit to publicly disclosing their climate alignment scores, thus promoting accountability and incentivizing the maritime industry’s transition to a more sustainable future.

Signatories’ climate alignment scores are benchmarked against  for GHG emissions from international shipping to peak as soon as possible and to reduce total annual GHG emissions by at least 50% by 2050 compared to 2008.

As a step toward alignment with the Paris Agreement, the Poseidon Principles for Marine Insurance also measure underwriting portfolios against a 100% by 2050 CO2 reduction trajectory.