Access Bank Adopts the Equator Principles
Nigeria, 4 June 2009
Access Bank Plc has affirmed its commitment to international best practice and globally acceptable standards by adopting the Equator Principles for its Project Finance. By this, Access Bank becomes the first Nigerian bank to implement the Equator Principles.
The Equator Principles (EP) is a voluntary set of environmental and social benchmarks for managing environmental and social issues in development finance globally. The Principles were initially developed by four private sector banks, Citi, ABN AMRO, Barclays and WestLB, and launched and adopted by 10 banks in June 2003. The Principles are based on the International Finance Corporation (IFC) performance standards on social and environmental sustainability, and on the World Bank Group’s Environmental, Health and Safety general guidelines.
Banco Santander, S.A. formally adopts the Equator Principles
Spain - 30 April 2009
Banco Santander, S.A. (Banco Santander) announces today that it is formally adopting the Equator Principles for its Project Finance activity. These principles comprise a voluntary commitment and are based on the International Finance Corporation (IFC) performance standards on social and environmental sustainability and on the World Bank Group’s environmental, health and safety general guidelines that are applied globally and across all industry sectors by EPFI banks. Social and environmental criteria will be applied globally to all new project finance lending and advisory activities across all industry sectors, in accordance with the Equator Principles declaration. Banco Santander and its affiliates (Group Santander) are international leaders in Project Finance.
EFIC Adopts the Equator Principles
Sydney - 3 March 2009
Australia’s export credit agency, EFIC today announced that it has adopted the Equator Principles. The Equator Principles provide a globally recognised benchmark that financial institutions involved in project finance can use in their management of social and environmental risk. EFIC joins financial institutions from 25 countries including two export credit agencies, in adopting the Principles.
Standard Bank Group Adopts Equator Principles for Project Finance Initiatives
Johannesburg - 2 February 2009
Standard Bank Group today announced that it is an Equator Principles Financial Institution (EPFI), having adopted and integrated all 10 of the Equator Principles which relate to Project Finance. Projects financed by EPFIs are required to be socially responsible and reflect sound environmental management practices.
Arab African International Bank The First Egyptian Bank to Adopt the ‘Equator Principles’
Cairo - 25 January 2009
Arab African International Bank (AAIB) finds pride in announcing it adopted the Equator Principles (EPs) on 25th January 2009. Being Egypt’s leading financial institution in social and environmental efforts, AAIB is now the first Egyptian institution to adopt the EPs. This comes as an important step that AAIB takes towards a more CSR - oriented core business.
AAIB believes that finance - in present times - has to strengthen its role of becoming a force behind positive socio-environmental change around the world.
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.
BNP Paribas Adopts the Equator Principles for its Project Finance Activity
Paris - 24 October 2008
BNP Paribas has announced today that it is formally adopting the Equator Principles for its Project Finance activity. These principles are based on the International Finance Corporation (IFC) Performance standards on social and environmental sustainability, and on the World Bank Group's Environmental, Health and Safety general guidelines. They promote responsible social conduct and sound environmental practices in relation to Project Finance. They will be applied globally to all new Project Finance lending and advisory, across all industry sectors, for projects with capital costs of US$10 million or above, in accordance with the Equator Principles declaration.
DnB NOR adopts the Equator Principles
Oslo - 29 May 2008
DnB NOR is proud to announce the adoption of the Equator Principles, a voluntary set of guidelines for managing environmental and social issues in project finance. The Equator Principles have become a financial services industry benchmark on how to assess and manage environmental and social risks in capital investment projects globally. The Principles were introduced by private sector banks in 2003 and are based on the environmental standards of the World Bank and the social policies of the International Finance Corporation (IFC). Close to 60 international banks, including the majority of the world's leading project lenders, have adopted the Principles.