Scotiabank Adopts Equator Principles, Reinforces Commitment to Environmental Risk Management and Sustainable Development
Toronto - 18 January 2005
Scotiabank today adopted the Equator Principles, a set of internationally recognized, voluntary project finance guidelines that establish social and environmental standards in the banking industry.
"Scotiabank recognizes the serious global environmental challenges faced by our society," said Rick Waugh, President and Chief Executive Officer, Scotiabank. "In our role as a major financial services provider, we support the principles of sustainable development and we are pleased to have joined other leading international banks in adopting the Equator Principles."
Banco de Brasil Adopts Equator Principles
Brasilia - 03 March 2005
Bank meets international criteria established for project analysis processes utilized for investments equal or more than US$50 million.
Banco do Brasil is the first official bank to join Brazilian financial institutions that meet the Equator Principles. Criteria established by the International Finance Corporation (IFC), an arm of the World Bank, were incorporated into analysis procedures for investment projects with a value equal or more than US$50 million.
Unibanco Adopts Social and Environmental Criteria for Approving Credits
Sao Paulo - 1 June 2004
Unibanco is the first Brazilian – and the first emerging market – bank to start complying with the Equator Principles
Unibanco is reinforcing the social and environmental dimensions of its activities. In June, the bank starts adopting the so-called Equator Principles, a set of social and environmental criteria used to evaluate and approve credits for infrastructure projects.
Eksport Kredit Fonden Adopts the International ”Equator Principles” Guidelines
Copenhagen - 14 May 2004
As the first export credit agency (ECA) worldwide and the first financial institution in Denmark, Eksport Kredit Fonden adopts the ”Equator Principles” which are a voluntary set of international guidelines developed by the banks for managing environmental and social issues related to project finance. The “Equator Principles” are based on the policies and procedures as set by the World Bank institution International Finance Corporation (IFC).
Bank of America Adopts the Equator Principles
Charlotte, North Carolina - 15 April 2004
Bank of America announced today that it has adopted the Equator Principles. This brings the number of banks which have adopted the principles to 21, including four from North America. Chan Martin, Bank of America Enterprise Market Risk Executive, stated, "The actions we take today can have an impact far beyond the financial transactions that define our business. We believe our adoption of the Equator Principles supports an industry standard that recognizes environmental responsibility".
KBC Adopts Equator Principles
Brussels - 27 January 2004
KBC today announced its adoption of the Equator Principles, which provide a framework for banks to manage environmental and social issues related to the area of project financing.
Jan Vanhevel, Managing Director of the KBC Bank and Insurance Holding Company, has declared that ‘the adoption of the Equator Principles supports KBC’s longstanding commitment to environmental and social responsibility in all its activities, both domestically and internationally’. KBC will apply the Equator Principles to its project finance activities around the world.
CIBC Adopts Equator Principles
Toronto - 03 December 2003
CIBC today announced its adoption of the “Equator Principles.” The Principles are a voluntary set of environmental and social screening criteria and guidelines adopted by major international banks, based on processes established by the International Finance Corporation (IFC), the private-sector investment arm of the World Bank. The Principles apply globally to development projects with a capital cost of US$50 Million or over in all industry sectors.
Mizuho Adopts the Equator Principles
Tokyo - 27 October 2003
Mizuho Corporate Bank, Ltd. has become the first Japanese bank to adopt the Equator Principles. This brings the total number of banks adopting the Equator Principles to 18, and the number of countries represented to 11. In a press release, Mizuho said it will apply high environmental and social standards for its project finance business in order to carry out its social obligations to promote both economic development, and environmental and social preservation. As an international financial institution, Mizuho wishes to contribute to the establishment of international environmental and social standards. Mizuho extends loans to 70% of listed Japanese companies and serves as the main lender to 40% of them.
Standard Chartered Adopts Equator Principles
London - 8 October 2003
Standard Chartered today announced the adoption of the Equator Principles as a basis for managing environmental and social issues in project financing. “We are committed to minimising the environmental and social impacts associated with our operations. Adopting the Equator Principles will reinforce the Bank’s long established environmental and social risk evaluation process. We believe in sustainable business and are pleased to adopt best practice”, said Group Chief Executive Mervyn Davies.
HSBC adopts the Equator Principles
London - 4 September 2003
HSBC has adopted the Equator Principles to help the Group assess the environmental and social impact of commercial lending proposals. This will reinforce the bank’s long established environmental and social risk evaluation process and its position as one of the leading companies in environmental impact management.
The Equator Principles are a set of voluntary guidelines, developed by major international banks, that establish a common framework to address the environmental and social issues that arise in financing projects and ensure that they are realised according to sound environmental management practices.