16 March 2018
The EP Association is undertaking a targeted review of the Equator Principles (see statement released in November 2017). Since the announcement following the 2017 EP AGM, the EP Association has initiated internal discussions on key thematic areas including:
- Social impact and human rights
- Climate change
- Designated Countries and Applicable Standards
- Scope of applicability of the EPs
Our ambition is that the update process will take up to 18 months, and have set provisional dates for the planned activities, internal and external stakeholder engagement and public commenting process, however these may be subject to revision or extension at any time.
- Phase I – Organization and set-up for EP4 review process (January – March 2018)
- Phase II – Focused EP Association group work and internal discussion on key topics and thematic areas, including Initial Stakeholder Consultation (March – September 2018)
- Phase III – Agreement with the EP Association membership and initial drafting of the EP4 targeted update (September – January 2019)
- Phase IV – Second round of stakeholder consultation (February – May 2019). Note the EP Association will be providing a more detailed timeline for this at a later date.
- Phase V – Finalisation and launch of the EP4 targeted update (May – August 2019)
As part of the external stakeholder engagement process, the EP Association will take the opportunity to gather feedback and recommendations that will be considered for strategic direction of the EPA and subsequent updates. Any interested stakeholder may submit feedback within the review (below), and sign up to be alerted when any EP review updates are posted.
Please note: The Association appreciates all submissions and will take all stakeholder feedback in aggregate into account, however, we do not have the capacity to respond individually to each submission.
UPDATE: 22 June 2018
The EP Association is currently in Phase II of the EP4 update, with two streams of work underway:
An independent third party has been engaged to undertake a review covering elements of the wider EP strategy and the targeted ‘EP4’ update. The review includes a set of interviews, an online survey, and written feedback received via the form available on this page. Stakeholders representing regulators, academia, financial institutions, clients, industry associations and civil society groups are among the groups included. The review is expected to be completed by the end of July 2018.
EPFI Working Groups
Parallel to the stakeholder consultations, EPFI Working Groups are reviewing the sections of the EPs relevant to the key thematic areas identified for targeted update: social impact and human rights, climate change, designated countries and applicable standards, and scope of applicability of the EPs. Once each Working Group is in the process of proposing changes to the text, they will be reviewed initially by the Steering Committee, then presented to the membership. The Working Groups are led by EPFIs themselves and comprise members that volunteered to engage in the review process. Any member EPFI is eligible to join a Working Group to contribute to the process of working towards draft text for EPA-wide review at the annual meeting in October this year.
As always, any interested stakeholder is invited to subscribe to news alerts, and to submit feedback via the online web form. A second round of stakeholder consultation is planned for early 2019 (indicatively February – May 2019), on the basis of a set of potential changes to the EP text.