Standard Bank becomes first African bank to chair Equator Principles Association
1 June 2015, Johannesburg
Standard Bank has been appointed the new chair of the Equator Principles Association for 2015/16, making it the first African Bank to be elected to this position.
The appointment, which takes effect on the 1 June 2015, comes at a critical juncture in the integration of environmental and social considerations within business as a component of responsible investing.
Standard Bank’s Executive & Head of Environmental and Social Advisory within Investment Banking, Nigel Beck, will be the bank’s lead representative and chair. Mr Beck says that while the world is aware there is a need for change, there is not a meeting of the minds on how this is to be achieved.
The Equator Principles (EP) is a step in this direction requiring project financing, advisory and project related corporate loans to meet consistent international standards from an environmental and social perspective. This is partially the reason the major drivers of global environmental, social and climate change is coming from the 80 Equator Principles Financial Institutions in 35 countries who have officially adopted the EP. These Financial Institutions cover the majority of international project finance debt within developed and emerging markets.