The New Equator Principles III Amplify CSR For Financial Institutions

12 June 2013 - CSR Newswire - Ariel Meyerstein, Esq., PhD

Last week, the Equator Principles (“EPs”), a private code of conduct adopted by 80 financial institutions globally, released a revised version – EP III that significantly upgrades the banks’ commitments to corporate social responsibility, including human rights, climate change and transparency.  It also broadens their scope of application beyond the narrow confines of project finance structured loans to “project related” corporate loans of US $100 million or more (when certain conditions are satisfied). Significantly, the new EP III may be the first corporate code to recognize the “responsibility to respect human rights by undertaking due diligence” in accordance with the UN Guiding Principles on Business and Human Rights. Read More.