The Equator Principles Association hosts 2012 Annual Meeting and first Equator Principles Workshop
3 - 4 December 2012, Washington DC, USA
Nearly 100 individuals, representing 54 financial institutions, attended the 2012 Equator Principles (EP) Association Annual Meeting on 3 December in Washington DC. The meeting included further consideration of the feedback received during the EP III 60 day Stakeholder Consultation and Public Comment process and discussions to finalise the EP III Draft. Key thematic areas including Scope, Climate Change, Social Risks, and Reporting and Transparency were reviewed further and the process for finalising the EP III Draft in Q1 of 2013 and subsequent launch and implementation of EP III were discussed.
Additional to the Annual Meeting, EP Association Members gathered for the first time to discuss EP implementation and best practice. The full day EP Workshop, held on 4 December, was focused on knowledge and experience sharing on a variety of core topics including categorisation, justified deviation, independent consultants, covenants, monitoring, information sharing, and reporting and transparency. EP Association Members found the day extremely positive and have committed to repeating the workshop on an annual basis.
Press Release: Draft of Updated Equator Principles (EP III) Released for Stakeholder Consultation and Public Comment
13 August 2012
The Equator Principles (EP) Association today releases the draft of the updated Equator Principles (EP III) for stakeholder consultation and public comment. The EP is a risk framework for identifying, assessing, and managing environmental and social risks in Project Finance transactions and has been adopted by 77 financial institutions worldwide.
Important Update on the Progress and Timeline of the EP III Update Process
The EP Association is continuing internal discussions with its members on the first draft of EP III and as a result the overall timeline for the EP III Update process has been extended.
Please see below a summary of the new timeline*:
- EP Association consultation period and initial drafting of the EP III (September 2011 - July 2012).
- Formal 60 day (minimum) Stakeholder Consultation and Public Comment Process (July - September 2012).
- Finalisation and launch of the EP III framework (September - December 2012).
*The timeline might be subject to further extension if deemed necessary.
The EP Association would like re-emphasise that it is committed to carrying out a robust and consultative process therefore appreciates the patience of stakeholders and look forwards sharing the first draft of EP III with stakeholders in the coming months.
The EP Association will aim to be open and transparent during the EP III Update process, and we welcome feedback and comments from any interested party on both process and substance. If you have not already joined the EP Association mailing list you can register your interest here.