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.
MCC, a Leading Italian Bank in Project Financing, Adopts the Equator Principles
Rome - 29 July 2003
MCC S.p.A, a leading Italian bank in project financing, is the first Italian bank to adopt the "Equator Principles", a set of voluntary guidelines developed by major international banks to address the environmental and social issues arising from financing projects and ensure that financed projects are realised according to sound environmental management practices.
RBC Financial Group Adopts Equator Principles
Toronto - 21 July 2003
RBC Financial Group today became the first Canadian financial institution to adopt the “Equator Principles,” a voluntary set of guidelines to manage social and environmental issues related to large-scale project financing in developing countries. These principles will be applied globally to project financings in all industry sectors, including mining, oil and gas, and forestry.
ING Group Adopts the Equator Principles
Amsterdam - 23 June 2003
ING Groep NV of the Netherlands has announced its adoption of the Equator Principles. This brings the number of leading project finance banks which have adopted the Principles to eleven. ING said that its adoption of the Equator Principles "means that ING will comply with the sustainability regulations for financing various large-scale projects in developing countries as set by the International Finance Corporation."
Leading Banks Announce Adoption of Equator Principles
4 June 2003
Ten leading banks from seven countries today announced the adoption of the "Equator Principles," a set of guidelines developed by the banks for managing social and environmental issues related to the financing of development projects. The banks will apply the principles globally and to project financings in all industry sectors, including mining, oil and gas, and forestry.