BCP first Peruvian bank to adopt Equator Principles

Lima, 22 January 2013

As part of its corporate commitment to sustainability and environmental protection, Banco de Crédito - BCP, the leading Peruvian financial institution, announces its adoption of the Equator Principles (EP). The EP are a set of principles based on the International Finance Corporation (IFC) Performance Standards that are adopted voluntarily by financial institutions in order to help them identify, assess, and manage environmental and social risks and impacts in project finance. The EP are applied to project finance transactions where total project capital costs exceed US$10 million.

The Equator Principles were developed in 2003 by leading financial institutions with the support of the World Bank and the International Finance Corporation, and with the objective of making private projects more environmentally and socially sustainable.

BCP is the first Peruvian bank and the eleventh in Latin America to adopt the EPs. Including BCP, 79 financial institutions in 33 countries have committed to applying these principles.

The adoption of the Equator Principles fits into BCP’s Environmental Credit Policy, thereby strengthening risk analysis and assessment of investment projects.

“We are shaping the way responsible business is conducted in Peru by reconfirming our commitment, and that of the banking industry, to financing environmentally-friendly, socially responsible and community-driven projects. This will encourage our clients to apply measures to minimize, mitigate, and/or prevent negative impacts,” stated Walter Bayly, CEO of BCP.