Michael Parker, Citi’s chairman of global shipping and logistics, has stepped down as chair of the Poseidon Principles, ending a six-year tenure that dates back to the initiative’s launch in 2019.

Parker stood down from the role on December 31, 2025, but will remain involved as Citi’s representative on the association’s steering committee.

His departure comes as the Poseidon Principles report continued progress among signatories, with the latest disclosure showing improved climate alignment scores and higher portfolio disclosure rates across participating banks.

The Poseidon Principles now count 36 signatories, together representing close to three-quarters of global ship finance, and have become a reference point for climate-related disclosure in maritime lending. The framework has also influenced similar initiatives in sectors including steel, aviation and aluminium.

Paul Taylor, Societe Generale’s global head of maritime industries and the current vice chair of the association, has stepped in as interim chair. He will hold the role until the next annual meeting in May, when a formal election is due to take place. Taylor has signalled his intention to stand for the position.

The leadership changes took effect on January 1, 2026. The Poseidon Principles said its day-to-day operations will continue as normal, supported by the secretariat under the direction of the steering committee and its signatories.