La Caixa Adopts Equator Principles for Financial Activities
Madrid - 19 March 2007
The financial entity will carry out a social and environmental evaluation of any project finance of more than ten million dollars that asks “la Caixa” for funding.
“la Caixa” incorporates the standards fixed by the International Finance Corporation (IFC), a member of the World Bank Group, and commits itself to periodically reporting on the implementation of the Equator Principles.
Banco Galicia adopts Equator Principles
Buenos Aires - 19 March 2007
Banco Galicia (BG) today announced it has adopted the Equator Principles, a system of guidelines for assessing social and environmental risk based on standards set by the International Finance Corporation (IFC), the World Bank’s private sector lending arm.
The Equator Principles, of voluntary implementation, have been adopted by numerous leading international banks. BG is pleased to have joined these leading institutions as it has become the first entity in the Southern Cone. Banco Galicia thus moves forward enhancing its Corporate Social Responsibility Strategy announced in April 2006.
Nordea adopts Equator Principles
21 February 2007
Nordea is the first Nordic bank to adopt the Equator Principles, a voluntary set of environmental and social guidelines for project financing. The Equator Principles is a financial services industry benchmark for assessing and managing social and environmental risk in asset-based project financing.
Nordea is now finalising the internal procedures to ensure that work proceeds according to the guidelines in all applicable project finance cases.
For further information:
Knut Rorbakken, Nordea Group CSR Officer, +47 22 48 47 78
MCC Adopts the Revised Equator Principles
Rome - 05 February 2007
MCC (Capitalia Banking Group), which was the first Italian bank and among the first financial institutions in the world to adopt the Equator Principles (“EP”) in July 2003, has now also adopted the revised version that conditions its financial participation in project finance operations upon very stringent social and environmental impact requirements.
ANZ Adopts the Equator Principles
Sydney, Australia - 15 December 2006
ANZ has monitored the progress of the Equator Principles since its inception in 2003 and we are pleased that our policies and processes are now sufficiently advanced that we are able to formally adopt the Equator Principles effective 15 December 2006.
To support our implementation of the Principles, we have developed our own social and environment policies that are being applied across all of our lending and investment decisions, including Project Finance activities in developing countries which are the focus of the Equator Principles.
Our objective is to go further with the intent of the Equator Principles through the development of a whole-of-business approach including all business relationships, products and geographies. Full text of the Statement (815k)
JPMorgan Chase Re-adopts Equator Principles
New York - 4 December 2006
JPMorgan Chase has re-adopted Equator Principles, a set of internationally recognized, voluntary project finance guidelines that establish social and environmental standards in the banking industry. For JPMorgan Chase this is an extension of the commitment it made in 2005 to adopt the Equator Principles as part of its broader environmental commitment.
E+Co Adopts Equator Principles
Bloomfield, New Jersey - 30 October 2006
E+Co, the leading provider of services and capital to modern energy enterprises in developing countries, continued its tradition of socially and environmentally responsible business practices by joining 40 other international financial institutions in adopting the Equator Principles.
"For more than ten years E+Co has embraced the concepts that underpin the Equator Principles", said Phil LaRocco, E+Co Executive Director. "We are pleased to join with so many fine financial institutions in formally adopting these principles. Our mission is to empower energy enterprises. Our developing country entrepreneurs establish sustainable enterprises to improve the livelihoods of their local communities, in ways that are sound from a business, societal and environmental perspective. The Equator Principles are a natural step for them and for us." Full text of the Statement (265k)
Scotiabank Adopts Revised Equator Principles, Renews Commitment to Environmental Risk Management and Sustainable Development
Toronto - 25 September 2006
Scotiabank announced today the bank has adopted the revised Equator Principles, a set of internationally recognized, voluntary project finance guidelines that establish social and environmental standards in the banking industry.
“Scotiabank is proud to take part in a common framework and language for environmental and social issues in the project finance industry,” said Rick Waugh, President and Chief Executive Officer, Scotiabank. “We are committed to supporting the communities in which we live and work.”
Caja Navarra Adopts Equator Principles
14 August 2006
Caja Navarra assesses credits of more than ten million dollars in social and environmental terms
The institution adopts the new version of the Equator Principles
Caja Navarra has adopted the new Equator Principles, a more demanding version of the benchmark which aims to apply environmental and social criteria to project financing. The Equator Principles are a voluntary initiative promoted worldwide by the International Finance Corporation (IFC), a member of the World Bank group. By adopting the Principles, financial institutions undertake to finance only those projects whose environmental and social risk comply with the criteria.
Banca Intensa Adopts Equator Principles
Milano - 04 August 2006
Banca Intesa adopts Equator Principles, a system of guidelines that orient financial institutions in view of minimising social and environmental impact of international project finance activities.