Lloyds TSB Adopts Equator Principles for Project Finance Initiatives
London - 31 January 2008
Lloyds TSB Group has today announced it has adopted the Equator Principles (EP), a globally-recognised benchmark for assessing and managing social and environmental risks in Project Finance. The principles promote socially responsible conduct and sound environmental practices in relation to Project Finance initiatives and seek to provide a framework against which lending can be assessed. The principles apply to all new Project Finance arrangements above US$10m.
Bancolombia Group Adopts The Equator Principles
Colombia - 11 December 2008
Bancolombia Group formalised its adoption of the Equator Principles, a voluntary set of guidelines (based on the International Finance Corporation’s Safeguard Policies and Performance Standards) in the financial industry to determine, assess and manage environmental and social risks in project financing. Bancolombia, the largest bank in Colombia, is the first Colombian financial institution to adopt the Equator Principles. The adoption of the Equator Principles is a key element of Bancolombia Group’s corporate strategy for environmental risk management. There are currently 63 adopting financial institutions from 25 countries. Bancolombia will make a formal assessment of the environmental and social impact of all projects that are financed through the bank. Additionally, Bancolombia will strive to promote environmental issues in Colombia from the financial system perspective.
Industrial Bank Co. Ltd Adopts the Equator Principles
China - 31 October 2008
Industrial Bank Co., Ltd (hereinafter referred to as "IB") is the first bank in China to announce the adoption of Equator Principles, a voluntary set of guidelines in financial industry to determine, assess and manage environmental and social risks in project financing. IB is ready to observe the requirements of Equator Principles, to set up internal policies and procedures in compliance with Equator Principles, and to conduct due diligence research on social and environmental issues in project financing.