Equator Principles and Nigeria’s Financial Industry

5 June 2012 - Detail Solicitors

The EPs are an exemplary model for responsible banking and provide an excellent benchmark for assessing corporate social responsibility by financial institutions. Financial institutions in Nigeria must be prepared to accept the price of higher project screening and investigation costs, rejection of financially rewarding projects, and increased exposure to environmental monitoring, in the interest of social and environmental sustainability. The EPs have greatly impacted environmental law as the EPs combine a performance-based and a process-oriented approach and ultimately ensure socially responsible investments. The EPs are expected to be an effective tool of managing the interaction of businesses and the environment. Read More.