The Equator Principles Association Announces the Commencement of the EP III Update Process

18 July 2011

Following the conclusion of the IFC Performance Standards Update and Review process, the Equator Principles (EP) Strategic Review process and public release of the Executive Summary and Appendix of the EP Strategic Review consultant report and associated EP Association Summary Response on 24 May 2011 , the EP Association has initiated internal discussions on key thematic areas including:

  • Scope of the EPs.
  • Reporting and transparency.
  • Governance issues, including membership criteria.
  • Stakeholder engagement during the EP III Update process (including industry and clients, peer financial institutions, and civil society organisations).

The EP Association has set provisional dates (as summarised below) for the planned activities, consultation and public comment process however these may be subject to revision or extension at any time.

  • Phase I – Focused EP Association group work and internal discussion on key topics and thematic areas (July – September 2011).
  • Phase II – Consultation period with the EP Association membership, preliminary scoping discussions with key stakeholders and initial drafting of the EP III framework (September – November 2011).
  • Phase III - Launch of the formal 60 day Stakeholder Consultation and Public Comment Process (December 2011 – February 2012). Note the EP Association will be providing a more detailed timeline for this at a later date.
  • Phase IV - Finalisation and launch of the EP III framework (target date March 2012).

It is important to note that we will be engaging with stakeholders during every phase of the process via the Stakeholder Engagement Working Groups and commit to making the EP III draft public (when available) for a minimum period of 60 days for review and comment.

The EP Association will aim to be open and transparent during the EP III Update process, and we welcome feedback and comments from any interested party on both process and substance. If you have not already joined the EP Association mailing list you can register your interest here.