Update on the Equator Principles Strategic Review Process

03 December 2010

The Equator Principles Strategic Review Meeting was held in Beijing, China on December 1 - 2, 2010. The purpose of the meeting was to frame a strategic vision and plan for the Equator Principles to ensure that it continues to be the "gold standard" for financial institutions to manage environmental and social risk.

Read more...

NIBC Bank Adopts Equator Principles

The Hague, 09 November 2010

NIBC Bank has adopted the Equator Principles, a globally-recognised benchmark for assessing and managing social and environmental risks in project finance. NIBC will apply the principles to project finance activities in all relevant sectors. The Equator Principles promote socially responsible conduct and sound environmental practices in relation to project finance initiatives. The benchmark seeks to provide a framework against which lending can be assessed, applying to all new project finance arrangements above US$10m. By adopting the Equator Principles, NIBC commits to not providing loans to projects where the borrower cannot or will not comply with the social and environmental standards set out in Equator Principles policies and procedures.

Read more...

Press Release: The Equator Principles Association Launches Strategic Review Process

19 October 2010

The Equator Principles (EP) Association is pleased to announce today, 19 October 2010, the launch of a Strategic Review process intended to produce a multi-year strategic vision to ensure the EPs continue to be viewed as the “gold standard” in environmental and social risk management for project finance within the financial sector. There has been a significant growth in the number of EPs adopters since its inception in 2003, growing from ten initial adopters to over 65 financial institutions from around the globe, making the EPs a leading and respected voluntary standard for the financial sector.

Read more...

Eksportfinans ASA Adopts the Equator Principles

Norway, 1 September 2010

Eksportfinans ASA formally adopts the Equator Principles, a voluntary set of guidelines for determining, assessing and managing social and environmental risk in project financing. Since its establishment in 2003, more than 60 international banks have adopted the Equator Principles, including the majority of the world’s leading project lenders. The Equator Principles apply to all new project financings globally with total project capital costs of US$10 million or more, and across all industry sectors. The adoption of the Equator Principles is consistent with Eksportfinans’ commitment to participating in environmentally and socially sustainable projects, and will be an important tool in further ensuring sustainable project finance. Eksportfinans is the Norwegian institute for export financing owned by banks and the Norwegian Government. It offers competitive long term financing to the export industry.

EP Association Steering Committee’s Letter Submission to the IFC Regarding the Phase II Consultation of IFC Performance Standards Review and Update

27 August 2010

The Equator Principles Association (the Association) has actively participated in both Phase I and Phase II of the International Finance Corporation's (IFC) consultation on their proposed revisions to IFC Performance Standards. Phase II of the IFC Review and Update process commenced on 2 June 2010 and ended on 27 August 2010. As part of this consultation process, Association members analysed the proposed changes, and provided the IFC with feedback on key thematic issues. In order to increase the Association's transparency during this process, the EP Association Steering Committee's letter submitted to the IFC is being made publicly available.

Full text of letter submission (pdf - 94k)

Press Release: New Governance Rules Introduced for The Equator Principles

01 July 2010

Rules to improve efficiency, and formalize existing practices, procedures and member responsibilities. The Equator Principles (EPs), the leading voluntary standard for managing social and environmental risk in project financing, will formally adopt new Governance Rules from 1 July 2010, the result of several years’ intensive work by the Equator Principles Financial Institutions (EPFIs).

Read more...

BMCE Bank Adopts the Equator Principles

Morocco, 10 May 2010

BMCE Bank formally announced its adoption of the Equator Principles on May 10th, 2010. The Equator Principles (EPs) are a voluntary set of standards for determining, assessing and managing social and environmental risk in project financing. The EPs apply to all new project financings globally with total project capital costs of US$ 10 million or more, and across all industry sectors.

Read more...

Importance of Equator Principles in Banking

Malaysia - 1 May 2010 - The Star Online, Elaine Ang

THE Equator Principles (EPs) is growing in importance in the global banking arena as financiers realise that minimising environmental and social risks will contribute towards business sustainability. ... The Principles, launched in June 2003, were developed by four private sector banks – Citi, ABN Amro, Barclays plc and WestLB AG. Read more

Bob Annibale, Global Director Of Citi Microfinance And Community Development.

27 April 2010 - Business Wire

“While our philanthropy makes a positive impact, our real power lies within the business. Citi has long been an industry leader in integrating policies into our corporate practices that benefit the communities in which we live and work. We are committed to continuing our work in a transparent fashion to forward these common goals and play a positive role in the global economic recovery,” said Pam Flaherty, Director of Citi Corporate Citizenship and CEO and President of the Citi Foundation. Read more

Can the Equator Principles survive without the NGOs?

UK - 15 March 2010 - Ethical Corp, Tony Webb

BankTrack is calling on the new chair of the steering committee of the EP's, Shawn Miller of Citigroup, to encourage the banks who have signed up to show how their following of the principles has helped poor communities surrounding projects financed by the banks. Read more