Svenska Handelsbanken AB (publ) Adopts the Equator Principles

Stockholm, 23 June 2016

Svenska Handelsbanken AB (publ) has adopted the Equator Principles, a global framework to promote sustainable environmental, social and human rights decision-making in financing projects.

UK Export Finance Adopts the Equator Principles

London, 31 March 2016

UK Export Finance (UKEF) has announced that it has adopted the Equator Principles, a global framework to promote sustainable environmental, social and human rights decision-making in financing projects.

Louis Taylor, UKEF’s Chief Executive Officer, welcomed the move, saying:

‘In adopting the Equator Principles, UKEF joins export credit agencies and international financial institutions including numerous partner banks with which UKEF works frequently.

‘This global framework will give UK exporters supported by UKEF confidence that environmental, social and human rights issues, that may carry ethical or reputational risk have been given consideration as part of UKEF’s support to relevant projects. In adopting the Equator Principles, we do not anticipate any additional administrative burden to UK exporters applying for export finance support.

‘UKEF becoming an Equator Principles Institution is in line with the UK government’s drive to promote sustainable business practices following the agreement of the Sustainable Development Goals at the UN General Assembly last year.’

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Sumitomo Mitsui Trust Bank, Limited Signs the “Equator Principles”

Tokyo, 1 February 2016

Sumitomo Mitsui Trust Bank, Limited (President: Hitoshi Tsunekage; hereinafter “SuMi TRUST Bank”), which is a subsidiary of Sumitomo Mitsui Trust Holdings, Inc. (President: Kunitaro Kitamura; hereinafter “SuMi TRUST Holdings”), today announces that it has become a signatory to the “Equator Principles”, which is the international framework for environmental and social risk management involved in project financing.

SuMi TRUST Group considers that the effect on the environment and society exerted by its investments and loans to customers is the most important issue affecting both the corporate value of the group as well as its influence on society.

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E.Sun Bank Adopt the Equator Principles

Taipei, 28 December 2015

In an effort to protect the environment for the next generation, E.Sun Bank adopted the Equator Principles (EP) today (28 December 2015), becoming the 82nd Equator Principles Financial Institution (EPFI) in the world, and will leverage its expertise and influence to protect its beautiful homeland.

As an EPFI, E.Sun Bank will enhance its environmental and social assessment processes for  project finance loan  evaluation, to ensure the approved loan project will not have significant potential risk or negative impact on the environment and society” said Joseph Huang, President of E.Sun Bank.

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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.

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Statement from the EP Association Steering Committee

18 May 2017

The Equator Principles (EPs) aim to be a global benchmark, providing a framework for due diligence to support responsible risk decision-making on environmental and social issues in financing projects.

Certain transactions have highlighted the challenges in the differentiated approach between Designated and non-Designated countries in the Equator Principles, an issue that was considered extensively during the EPIII update process, but one that remains challenging.

We are strengthened by engaging with the views of our members, and are listening and responding to their concerns raised around the distinction between Designated and non-Designated countries.

A working group is forming to ensure that the views of members operating in vastly different legislative contexts, with widely varied project portfolios, are taken into account when reviewing these options.

This working group will inform ongoing Steering Committee discussions on options, which will be presented at our upcoming Annual General Meeting.

The Steering Committee welcomes leadership and participation by all of its members in examining and enacting the best way forward.

The Equator Principles Association Steering Committee

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.

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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.

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Shawn D. Miller – In Memoriam

21 November 2014

It is with great sadness that we share the news of the recent death of Shawn D. Miller, Managing Director & Global Head of Environmental and Social Risk Management at Citigroup. We are deeply saddened by the loss of one of our colleagues, an Equator Principles pioneer and friend to many.

Shawn had a deep commitment to the Equator Principles. He was a driving force in developing and promoting the Equator Principles, encouraging financial institutions to join the initiative, and ensuring the views of the members were heard and considered. He was instrumental in the development of the second and third iterations of the Equator Principles (II and III) and provided exceptional leadership when he represented Citigroup as Chair of the Equator Principles Association Steering Committee from 2010-2012. His achievements and contributions have, and will continue to have, an immeasurable impact on the Equator Principles Association.

His work inspired and influenced many in the banking community, an ardent advocate for environmental responsibility and human rights. Determined to play his part in making the finance sector more sustainable, he worked tirelessly and closely with colleagues, peers, clients and communities.

He was a true leader in his field, highly respected by his peers and all who worked with him. Passionate and principled, and at the same time pragmatic and thoughtful in his approach to his work, Shawn was the consummate professional, who had a palpable energy, positivity and warmth.

Many of us will also remember him for the friendship he offered. He was always willing to support others, share his knowledge, and provide guidance and advice. His contribution and positive spirit will remain with us in memoriam.

Our thoughts and heartfelt condolences go to his family and close colleagues.


The Equator Principles Association Hosts 2014 Annual Meeting And Equator Principles Workshop In Cape Town

28 & 29 October 2014

Nearly 70 individuals, representing 43 financial institutions, attended the 2014 Equator Principles (EP) Association Annual Meeting and Workshop on 28 and 29 October 2014 in Cape Town. The meeting was a unique opportunity for the EP Association to engage financial institutions in Africa and underlined its commitment to discussing environmental and social risk management in a regional context.

Following the success of the 2013 Workshop, Equator Principles Financial Institutions (EPFIs) met on the 29 October to discuss the implementation of EP (including Project-Related Corporate Loans, the use of Action Pans, GHG reporting, alternative analysis), topics related to project affected communities, EPFI reporting requirements, and other pertinent environmental and social matters.