Dresdner Bank adopts Equator Principles

Frankfurt - 18 August 2003

On August 18 2003 Dresdner Bank has adopted the  EQUATOR-PRINCIPLES. The principles are  a set of voluntary guidelines and require projects worth more than US$50 million whose potential adverse environmental impacts are more than minimal to be subject to an Environmental Assessment (EA) addressing the key environmental and social issues. The Equator Principles were initiated by  the International Finance Corporation, a Worldbank subsidiary, in cooperation with a group of several financial institutions. Dresdner Bank’s signature  brings the total number of banks that have adopted the Equator Principles to 14. The codex is likely to become a generally acknowledged guideline for international project financing activities.

Throughout the last years Dresdner Bank has adopted several voluntary agreements which require a socially and ecologically responsible business performance (e.g. UNEP Declaration on the Environment, Global Compact via Allianz, adoption of the ‘Worldbank standards’). In order to comply with these guidelines in the lending process, Dresdner Bank has systematically integrated social and ecological criteria in the credit-risk management process. Signing the Equator Principles, Dresdner Bank optimises its social and ecological commitment also in the field of project financing.

Contact:

Dr. Armin Sandhövel, Dresdner Bank, Head Corporate Sustainability, JLIB_HTML_CLOAKING
Sascha Lafeld, Dresdner Bank, Corporate Sustainability, JLIB_HTML_CLOAKING