Access Bank Adopts the Equator Principles

Nigeria, 4 June 2009

Access Bank Plc has affirmed its commitment to international best practice and globally acceptable standards by adopting the Equator Principles for its Project Finance. By this, Access Bank becomes the first Nigerian bank to implement the Equator Principles.

The Equator Principles (EP) is a voluntary set of environmental and social benchmarks for managing environmental and social issues in development finance globally. The Principles were initially developed by four private sector banks, Citi, ABN AMRO, Barclays and WestLB, and launched and adopted by 10 banks in June 2003. The Principles are based on the International Finance Corporation (IFC) performance standards on social and environmental sustainability, and on the World Bank Group’s Environmental, Health and Safety general guidelines.

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Banco Santander, S.A. formally adopts the Equator Principles

Spain - 30 April 2009

Banco Santander, S.A. (Banco Santander) announces today that it is formally adopting the Equator Principles for its Project Finance activity. These principles comprise a voluntary commitment and are based on the International Finance Corporation (IFC) performance standards on social and environmental sustainability and on the World Bank Group’s environmental, health and safety general guidelines that are applied globally and across all industry sectors by EPFI banks. Social and environmental criteria will be applied globally to all new project finance lending and advisory activities across all industry sectors, in accordance with the Equator Principles declaration. Banco Santander and its affiliates (Group Santander) are international leaders in Project Finance.

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EFIC Adopts the Equator Principles

Sydney - 3 March 2009

Australia’s export credit agency, EFIC today announced that it has adopted the Equator Principles. The Equator Principles provide a globally recognised benchmark that financial institutions involved in project finance can use in their management of social and environmental risk. EFIC joins financial institutions from 25 countries including two export credit agencies, in adopting the Principles.

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Standard Bank Group Adopts Equator Principles for Project Finance Initiatives

Johannesburg - 2 February 2009

Standard Bank Group today announced that it is an Equator Principles Financial Institution (EPFI), having adopted and integrated all 10 of the Equator Principles which relate to Project Finance. Projects financed by EPFIs are required to be socially responsible and reflect sound environmental management practices.

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Arab African International Bank The First Egyptian Bank to Adopt the ‘Equator Principles’

Cairo - 25 January 2009

Arab African International Bank (AAIB) finds pride in announcing it adopted the Equator Principles (EPs) on 25th January 2009. Being Egypt’s leading financial institution in social and environmental efforts, AAIB is now the first Egyptian institution to adopt the EPs. This comes as an important step that AAIB takes towards a more CSR - oriented core business.

AAIB believes that finance - in present times - has to strengthen its role of becoming a force behind positive socio-environmental change around the world.

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Lloyds TSB Adopts Equator Principles for Project Finance Initiatives

London - 31 January 2008

Lloyds TSB Group has today announced it has adopted the Equator Principles (EP), a globally-recognised benchmark for assessing and managing social and environmental risks in Project Finance. The principles promote socially responsible conduct and sound environmental practices in relation to Project Finance initiatives and seek to provide a framework against which lending can be assessed.  The principles apply to all new Project Finance arrangements above US$10m.

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The Equator Principles : A Brief Overview

London - 12 December 2008 - Corporate Eye Newsletter 

Talking about business sustainability without mentioning money is a bit like a spot the ball competition. You know it’s there, an essential part of what’s going on, but spotting it can be very difficult indeed. This is where the Equator Principles (EP) come in; a set of benchmarks put together to bring a sense of sustainability to business financing.

The initiative was created in 2003 by the leading banks of the day, including Barclays, Citibank and ABN Amro. It uses the policies of the World Bank and the International Finance Corporation (IFC) as its foundation. They apply to all projects which financial institutions may engage in with financing of over $10m. This includes both direct lending by the banks and financial consultancy.

In addition, the working groups which govern the principles are not wholly focussed upon the banks. They include representatives of NGOs, Socially Responsible Investment analysts and the banks’ client base. Inevitably this means that the banks and their clients complain that the principles go too far while the NGOs complain that they don’t go far enough. This is good and it is heartening to see both sides engaging with one another and feeling able to air their views freely. Read more  

Bancolombia Group Adopts The Equator Principles

Colombia - 11 December 2008

Bancolombia Group formalised its adoption of the Equator Principles, a voluntary set of guidelines (based on the International Finance Corporation’s Safeguard Policies and Performance Standards) in the financial industry to determine, assess and manage environmental and social risks in project financing. Bancolombia, the largest bank in Colombia, is the first Colombian financial institution to adopt the Equator Principles. The adoption of the Equator Principles is a key element of Bancolombia Group’s corporate strategy for environmental risk management. There are currently 63 adopting financial institutions from 25 countries. Bancolombia will make a formal assessment of the environmental and social impact of all projects that are financed through the bank. Additionally, Bancolombia will strive to promote environmental issues in Colombia from the financial system perspective.

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International Financial Institutions Discuss the 5th Anniversary of the Equator Principles at an Event in Rio de Janeiro, Brazil

São Paulo - 10 December 2008

The event also celebrated the beginning of Banco Itaú’s term as Chair of the Equator Principles Financial Institutions Steering Committee and the announcement of the 8th South American bank to adopt to the Equator Principles.

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PRESS RELEASE: International Financial Institutions Discuss the 5th Anniversary of the Equator Principles in Rio de Janeiro, Brazil

08 December 2008

On 11 and 12 December 2008 financial institutions from around the world, including the International Finance Corporation, a member of the World Bank Group, will meet in Rio de Janeiro to celebrate the fifth anniversary of the Equator Principles. The event, which also marks the beginning of Itaú’s term as Chair of the Equator Principles Financial Institutions Steering Committee, will debate and present the achievements of the past five years and the challenges and prospects for the future. At the same time the adoption of the Equator Principles by the 8th South American bank will be formally announced.

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