NBAD becomes first UAE bank to join the Equator Principles Association
Abu Dhabi, 20 September 2015
National Bank of Abu Dhabi (NBAD) has adopted the Equator Principles (EP), an internationally-recognised benchmark in the financial industry for identifying, assessing and managing environmental and social risk in bank financed projects.
NBAD is the first bank in the UAE to sign up to EP, a voluntary set of guidelines based on International Finance Corporation (IFC) standards on social and environmental sustainability, and on the World Bank Group's Environmental, Health and Safety general guidelines.
Cathay United Bank is the first bank in Taiwan to adopt the Equator Principles
Taipei, 23 March 2015
Cathay United Bank (CUB) becomes the first Taiwanese bank to join the Equator Principles (EP) Association. CUB is a wholly owned subsidiary of Cathay Financial Holding Company (Cathay FHC), the largest financial holding company in Taiwan. By adopting the Principles, CUB has declared its commitment to the assessment and management of social and environmental risks and impacts in its credit process.
“’Sustainability’ is a widely discussed topic among corporations and is also a commitment that a company makes in its pursuit of corporate social responsibility (CSR). The underlying connotation of corporate sustainability encourages corporations to embrace environmental, social, and governance issues as a strategic tool to modify corporate management system and operation model while seeking profits,” stated by Tsu-Pei Chen, Chairman of CUB.
Eksportkreditt Norge Adopts the Equator Principles
Oslo, 27 June 2014
Export Credit Norway is following many of its business partners in adopting the Equator Principles, formed to ensure responsibility and sustainability in financing of international projects.
"Many of the international banks we work closely with have adopted the Equator Principles, and the initiative has contributed in raising awareness on social and environmental issues. We therefore see it as a natural step for us to join the initiative," CEO of Export Credit Norway, Jarle Roth says.
Commonwealth Bank of Australia Adopts the Equator Principles
Sydney, 26 May 2014
On 26 May 2014 Commonwealth Bank became a signatory to the Equator Principles. The Equator Principles are a voluntary set of guidelines to assess and manage environmental and social risks in project finance.
The Equator Principles have evolved over time. The third iteration, Equator Principles III, reflects the latest developments in environmental and social risk management practices and associated governance around compliance.
By adopting the Equator Principles III, we further build on our commitment to responsible lending and formalise reporting of our environmental and social risk practices.
For further information go to the Commonwealth Bank website.
UK Green Investment Bank adopts the Equator Principles
London, 2 December 2013
The UK Green Investment Bank (GIB) has today announced that it has become a signatory to the ‘Equator Principles’: the global ethical investment framework. Founded in 2003, the Equator Principles provide a globally consistent governance model to assess and manage environmental and social risk in financing.
IDFC becomes the first Indian Financial Institution to join the Equator Principles Association
Mumbai, 3 June 2013
IDFC Limited announced its adoption of the Equator Principles, an internationally accepted credit risk management framework for determining, assessing and managing environmental and social risk in Project Finance transactions.
Banco Popular Joins the Equator Principles
Madrid, 20 May 2013
Banco Popular has joined the Equator Principles, a voluntary set of guidelines for the inclusion of social and environmental criteria in the risk management process of Project Finance transactions of more than 10 million US dollars. These principles have been promoted by various entities from the financial sector in coordination with the International Finance Corporation’s (IFC) Performance Standards on Environmental and Social Sustainability.
Otkritie Bank becomes the first bank in Russia to adopt the Equator Principles
Moscow, 15 April 2013
On April 15, 2013 Otkritie Bank (OJSC) became the first Russian bank to join the Equator Principles Association. By adopting the Principles, Otkritie Bank has declared its commitment to sustainable finance and its readiness to take into account social and environmental considerations in major project financing.
The Equator Principles are a credit risk management framework for identifying, assessing, and managing environmental and social risk in project finance. The principles are adopted voluntarily by financial institutions and are applied where total project capital costs exceed US$10 million. The Principles are based on the International Finance Corporation’s (IFC) Performance Standards on Environmental and Social Sustainability, and on the World Bank Group’s Environmental, Health and Safety Guidelines.
At present, 78 banks, including ABN Amro, BNP Paribas, Barclays, Bank of America, Citigroup, Credit Suisse, HSBC, Societe General, and Unicredit have adopted the Equator Principles.
According to the Chairman of the Board of Otkritie Bank, Alexey Gonus, collaboration between the Bank and corporate clients in this area has a positive impact on the reputation of all concerned. "Worldwide, there is increasing attention on businesses’ social responsibility. This being the case, our acceptance of the Equator Principles will, first and foremost, help to show that the words "social responsibility" and "sustainable future" have real meaning for us and our customers."
BCP first Peruvian bank to adopt Equator Principles
Lima, 22 January 2013
As part of its corporate commitment to sustainability and environmental protection, Banco de Crédito - BCP, the leading Peruvian financial institution, announces its adoption of the Equator Principles (EP). The EP are a set of principles based on the International Finance Corporation (IFC) Performance Standards that are adopted voluntarily by financial institutions in order to help them identify, assess, and manage environmental and social risks and impacts in project finance. The EP are applied to project finance transactions where total project capital costs exceed US$10 million.
DZ Bank AG adopts the Equator Principles
Frankfurt, 01 January 2013
On 1 January 2013 DZ BANK AG recognised the Equator Principles, which provide a global standard for project finance, thus documenting that it is prepared to develop its core business in a sustainable manner. Having signed up to the Equator Principles, DZ BANK AG will in the future apply these guidelines world-wide to all new project finance transactions with a volume in excess of USD 10 million. “By deciding to sign up to the Equator Principles we clearly demonstrate to our customers and to society as a whole just what strict social and ecological criteria we comply with when financing projects. We do this for reasons of risk provisioning as well as out of responsibility for society,” said Wolfgang Kirsch, Chief Executive Officer of DZ BANK.