OP Financial Group Adopts the Equator Principles
Helsinki, 16 December 2016
Equator Principles (EP) is a voluntary commitment applied in project finance to manage risks related to environmental issues and social responsibility. The EP has been signed by 87 Equator Principles Financial Institutions (EPFIs) in 36 countries, representing more than 70% of international project finance debt in emerging markets.
The EP aims to reduce the negative impacts of financed projects on climate, local communities and people. While the EP does not directly restrict a financial institution's participation in projects, it supports the due diligence of projects as well as consideration of social and environmental impacts in the decision-making phase.
Although OP annually participates only in a couple of EP-based project finance cases, committing to key international responsibility frameworks forms an important part of OP's corporate social responsibility actions.
Bankinter adheres to the Equator Principles initiative
Madrid, 12 December 2016
Bankinter has adhered to the Equator Principles, an international, baseline initiative within the financial sector to assess and manage environmental and social risks in projects that require financing.
These voluntary guidelines apply to project finance transactions for 10 million dollars or more, and to corporate loans for projects costing over 100 million dollars.
Several financial institutions were the driving force behind these principles in a coordinated effort with the International Finance Corporation, a World Bank agency.As of today, 85 financial sector companies worldwide have signed and adopted them.
In adhering to these principles, Bankinter undertakes to report each year on its processes to implement and monitor them in its annual report and on its corporate website.
This initiative falls within the bank's "3 en Raya" (in English,'Three-in-a-Row') sustainability plan, which aims to align business with the management of financial, social and environmental issues.
ICO Signs Up To The Equator Principles
Madrid, 26 October 2016
ICO's General Board approved the institution's decision to become a signatory to the Equator Principles at its meeting on Friday 21 October, as part of the framework of commitments in its CSR and environmental policies.