EPFIs Meet After Nearly One Year of EPII Implementation

Washington D.C. - 12-14 May 2007

On May 14, 26 out of 51 EPFIs met to discuss lessons learned and challenges related to EPII implementation. 6 recent adopters attended the event and made a significant contribution to the success of the meeting. EPFIs have been implementing the new Principles for nearly one year following their revision and launch in London last July. Bank of America hosted the day-long event in Washington, DC. Issues related to EPFI governance, disclosure and transparency related to Principle 10, and other items were discussed. This EPFI meeting was then followed by a 2-day series of meetings at the International Finance Corporation (IFC's) "Community of Learning" event which focused on lessons learned from application of the IFC Performance Standards. EPFIs interacted with and heard from IFC senior management and staff, and also had the opportunity to interact with a number of environmental representatives of Development Finance Institutions (DFIs) from across the globe.

For the guidance note on reporting related to Principle 10 of the Equator Principles, please see the attached document. (48k)

 

World Bank Group Environmental, Health, and Safety Guidelines updated

30 April 2007

New versions of the World Bank Group Environmental, Health, and Safety Guidelines (known as the 'EHS Guidelines') are now in use. They replace IFC Guidelines and World Bank Guidelines previously published in Part III of the Pollution Prevention and Abatement Handbook and on the IFC website.

Read more...

TD Bank Financial Group Adopts Equator Principles

Toronto - April 12, 2007

TD Bank Financial Group (TDBFG) announced it has adopted the Equator Principles, a set of globally recognized, voluntary guidelines established to assess and manage social and environmental risk in project financing.

In adopting these principles, TDBFG strengthens its existing environmental risk management and due diligence processes, ensuring that the projects it finances are developed in a socially responsible manner and reflect sound environmental management practices.

Read more...

CIFI Adopts Equator Principles

Arlington, VA - 06 April 2007

Corporación Interamericana para el Financiamiento de Infraestructura, S.A. (CIFI), a leading financial institution providing structured financing and advisory services for infrastructure projects in Latin America and the Caribbean, has announced its adoption of the Equator Principles.

"CIFI embraces the concepts that underline the Equator Principles", said Roldan Trujillo, CIFI’s CEO. "We are delighted to join with so many outstanding financial institutions in formally adopting these principles. Through its adoption of these principles, CIFI ratifies its commitment to matters of corporate responsibility, consistent with its continuous quest to align itself with the needs of its customers, shareholders, employees and of the societies in which it pursues its business”.

Read more...

La Caixa Adopts Equator Principles for Financial Activities

Madrid - 19 March 2007

The financial entity will carry out a social and environmental evaluation of any project finance of more than ten million dollars that asks “la Caixa” for funding.

“la Caixa” incorporates the standards fixed by the International Finance Corporation (IFC), a member of the World Bank Group, and commits itself to periodically reporting on the implementation of the Equator Principles.

Read more...

Banco Galicia adopts Equator Principles

Buenos Aires - 19 March 2007

Banco Galicia (BG) today announced it has adopted the Equator Principles, a system of guidelines for assessing social and environmental risk based on standards set by the International Finance Corporation (IFC), the World Bank’s private sector lending arm.

The Equator Principles, of voluntary implementation, have been adopted by numerous leading international banks. BG is pleased to have joined these leading institutions as it has become the first entity in the Southern Cone. Banco Galicia thus moves forward enhancing its Corporate Social Responsibility Strategy announced in April 2006.

Read more...

Nordea adopts Equator Principles

21 February 2007

Nordea is the first Nordic bank to adopt the Equator Principles, a voluntary set of environmental and social guidelines for project financing. The Equator Principles is a financial services industry benchmark for assessing and managing social and environmental risk in asset-based project financing.

Nordea is now finalising the internal procedures to ensure that work proceeds according to the guidelines in all applicable project finance cases.

For further information:
Knut Rorbakken, Nordea Group CSR Officer, +47 22 48 47 78

 

MCC Adopts the Revised Equator Principles

Rome - 05 February 2007

MCC (Capitalia Banking Group), which was the first Italian bank and among the first financial institutions in the world to adopt the Equator Principles (“EP”) in July 2003, has now also adopted the revised version that conditions its financial participation in project finance operations upon very stringent social and environmental impact requirements.

Read more...

LeBoeuf, Lamb, Greene & MacRae Publishes Client Briefing on Equator Principles

London - January 2007

LeBoeuf, Lamb, Greene & MacRae, a leading global law firm, has published a client briefing on the Equator Principles. It is written by Paul Q. Watchman and Tim Baines.

The client briefing gives an overview of the Equator Principles, and highlights their background, prevalence and scope, but focuses on the implementation requirements for EP2. It also sets out a summary of the primary differences between Equator Principles 1 and Equator Principles 2. For the full text of the briefing please see the attached PDF (860k)

 

ANZ Adopts the Equator Principles

Sydney, Australia - 15 December 2006

ANZ has monitored the progress of the Equator Principles since its inception in 2003 and we are pleased that our policies and processes are now sufficiently advanced that we are able to formally adopt the Equator Principles effective 15 December 2006.

To support our implementation of the Principles, we have developed our own social and environment policies that are being applied across all of our lending and investment decisions, including Project Finance activities in developing countries which are the focus of the Equator Principles.

Our objective is to go further with the intent of the Equator Principles through the development of a whole-of-business approach including all business relationships, products and geographies. Full text of the Statement (815k)