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The Poseidon Principles – Part 2 – Implementation
In the first article of our three-part series, we examined the Poseidon Principles. In this second article, we consider the implementation of these Principles.
The Third Principle, “the Enforcement Principle”, requires that the lender ensures ongoing compliance with the Principles by including a covenant requiring the borrower to provide the necessary information in order for the lender to comply with the Principles. Such covenants, provided by the borrower in favour of the lender, should enable the lender to calculate the carbon intensity of their portfolio and to support the accurate assessment of the portfolio climate alignment.
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