Now, the ship financing portal is online. The purpose of the portal is to make it easier for both the maritime industry and other marine-related businesses to access financing for modernizing ship fleets, improving efficiency, and reducing environmental impact.

The ship financing portal, developed by the European Commission's Directorate-General for Mobility and Transport, provides companies and organizations with a centralized place to find financial tools needed for the green transition of the maritime sector.

The European Commission sees three major advantages of the portal, which they believe fills a gap in information about financing opportunities:

1. Easier access to the right financing: The portal gathers various European financial products in one place, making it easier for actors in the maritime sector to find suitable financing opportunities.
2. Updated and current information: The portal is always updated with the latest information on available grants, loans, and other financial products administered by the EU, member states, and private financial institutions. This ensures that users always have access to the latest financing opportunities.
3. Solutions tailored to the maritime industry: The portal highlights financial products specifically designed for the maritime sector, facilitating the development and implementation of new technologies and services that help reduce carbon emissions.

Already in 2019, several banks launched the Poseidon Principles, a framework for responsible financing of the maritime industry. The purpose of the framework is for the signatory banks, as capital providers, to support the International Maritime Organization's (IMO) goal of transitioning to fossil-free shipping by 2050. So far, thirty-five banks, representing about 80% of global maritime financing, have signed the principles and committed to reporting how their maritime portfolios align with IMO's goals. Among Swedish banks, SEB joined in 2020, and Swedbank joined in February this year.

"Our climate goals for the shipping portfolio underline the commitment to reduce the maritime industry's climate impact. The industry continues to reduce its carbon emissions, and our role is to be an active partner supporting our customers in their ongoing transition," said Niels R. Bugge, Head of Ocean Industries at Swedbank, highlighting the bank's commitment.