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.