Equator Principles Financial Institutions and Stakeholders Mark the 10th Anniversary of the Equator Principles

4 June 2013

Equator Principles Financial Associations (EPFIs) today gathered in Amsterdam to celebrate the 10th anniversary of the Equator Principles, and the launch of the latest iteration of Equator Principles - EP III. EPFIs were joined by a range of stakeholders, including clients, NGOs, specialist consultants and the media.

Leonie Schreve, Chair of the EP Association Steering Committee and Head of Sustainable Lending at ING who hosted today's event said,

"The 10th anniversary and launch demonstrates the strength of Equator Principles as global environmental and social risk management standard. Today sees the launch of EP III which will mean important environmental and social risk considerations can be applied to even more deals. EP III was supported by an overwhelming majority of our members, and we're also seeing more financial institutions adopting, with our first members from Russia and India adopting in recent weeks."

For further information on go to Equator Principles III

Approved and Released - Equator Principles III

14 May 2013

Equator Principles (EP) Association Members have given overwhelming support to EP III - the third and most robust version of the EP to date. The vote in favour of EP III means that from 4 June 2013 more deals will be assessed under a strengthened environmental and social risk management framework.

The EP framework for determining, assessing and managing environmental and social risk in project finance transactions has extended its scope to Project-Related Corporate Loans and Bridge Loans, and clarifies the requirements for application to Advisory Services. Under EP III, Equator Principles Financial Institutions (the name for adopters of the EP) will benefit from greater consistency in implementation, enhanced transparency through extended reporting and will address emerging environmental and social concerns.

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Cross-Sector Biodiversity Initiative Launched

6 February 2013

ICMM, IPIECA (the global oil and gas industry association for environmental and social issues) and the Equator Principles Association have launched a cross-sector biodiversity initiative (CSBI) in Washington, D.C.

The initiative has been created to develop and share good practices and practical tools to apply the new International Finance Corporation's (IFC) performance standard 6 on biodiversity conservation. IFC's performance standards have become globally recognized as a benchmark for environmental and social risk management in the private sector.

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The Equator Principles Association hosts 2012 Annual Meeting and first Equator Principles Workshop

3 - 4 December 2012, Washington DC, USA

Nearly 100 individuals, representing 54 financial institutions, attended the 2012 Equator Principles (EP) Association Annual Meeting on 3 December in Washington DC. The meeting included further consideration of the feedback received during the EP III 60 day Stakeholder Consultation and Public Comment process and discussions to finalise the EP III Draft. Key thematic areas including Scope, Climate Change, Social Risks, and Reporting and Transparency were reviewed further and the process for finalising the EP III Draft in Q1 of 2013 and subsequent launch and implementation of EP III were discussed.

Additional to the Annual Meeting, EP Association Members gathered for the first time to discuss EP implementation and best practice. The full day EP Workshop, held on 4 December, was focused on knowledge and experience sharing on a variety of core topics including categorisation, justified deviation, independent consultants, covenants, monitoring, information sharing, and reporting and transparency. EP Association Members found the day extremely positive and have committed to repeating the workshop on an annual basis.

Press Release: Draft of Updated Equator Principles (EP III) Released for Stakeholder Consultation and Public Comment

13 August 2012

The Equator Principles (EP) Association today releases the draft of the updated Equator Principles (EP III) for stakeholder consultation and public comment. The EP is a risk framework for identifying, assessing, and managing environmental and social risks in Project Finance transactions and has been adopted by 77 financial institutions worldwide.

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Important Update on the Progress and Timeline of the EP III Update Process

The EP Association is continuing internal discussions with its members on the first draft of EP III and as a result the overall timeline for the EP III Update process has been extended.

Please see below a summary of the new timeline*:

  • EP Association consultation period and initial drafting of the EP III (September 2011 - July 2012).
  • Formal  60 day (minimum) Stakeholder Consultation and Public Comment Process (July - September 2012).
  • Finalisation and launch of the EP III framework (September - December 2012).

*The timeline might be subject to further extension if deemed necessary.

The EP Association would like re-emphasise that it is committed to carrying out a robust and consultative process therefore appreciates the patience of stakeholders and look forwards sharing the first draft of EP III with stakeholders in the coming months.

The EP Association will aim to be open and transparent during the EP III Update process, and we welcome feedback and comments from any interested party on both process and substance. If you have not already joined the EP Association mailing list you can register your interest here.

ING Elected as New Chair of Equator Principles Association Steering Committee

We are very pleased to announce that the Equator Principles (EP) Association Steering Committee has elected a new Chair for the 2012/13 mandate. ING is honoured to accept the appointment and assumes the position of Chair on 1 May 2012. One of the first tasks in the Chair role is leading the EP III Stakeholder Consultation and Public Comment process. ING looks forward to continuing this important leadership role, held by Citi for the last 2 years, particularly during this crucial period. ING believes that a robust consultation and public comment process is a fundamental requirement for incorporating the input from stakeholders and ensuring transparency.

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Important Update on the Progress and Timeline of the EP III Update Process

The EP Association is continuing internal discussions with its members on the first draft of EP III and as a result the overall timeline for the EP III Update process has been extended again.

Please see below a summary of the new timeline*:

  • EP Association consultation period and initial drafting of the EP III (September 2011 - May 2012).
  • Formal  60 day (minimum) Stakeholder Consultation and Public Comment Process (May - July 2012).
  • Finalisation and launch of the EP III framework (July - October 2012).

*The timeline might be subject to further extension if deemed necessary.

The EP Association would like re-emphasise that it is committed to carrying out a robust and consultative process therefore appreciates the patience of stakeholders and look forwards sharing the first draft of EP III with stakeholders in the coming months.

The EP Association will aim to be open and transparent during the EP III Update process, and we welcome feedback and comments from any interested party on both process and substance. If you have not already joined the EP Association mailing list you can register your interest here.

Banco do Brasil to host Biodiversity for Banks workshop in São Paulo

20 January 2012

Banco do Brasil will host the second Biodiversity for Banks (B4B) workshop on 22 and 23 March 2012.  The Equator Principles Association, World Wildlife Fund (WWF) and the Business and Biodiversity Offsets Program launched the pioneering training program in late October 2011 to help banks incorporate the value of nature into their lending decisions. More than 20 banks from 15 countries met in late October at the WWF headquarters in Washington D.C. as part of an inaugural training workshop. Now the B4B program hits the road with the next stop being São Paulo, Brazil.

Read more...

Important Update on the Progress and Timeline of the EP III Update Process

The EP Association is continuing internal discussions with its members on the first draft of EP III and as a result the overall timeline for the EP III Update process has been extended.

Please see below a summary of the new timeline*:

  • EP Association consultation period and initial drafting of the EP III (September 2011 - March 2012).
  • Formal  60 day (minimum) Stakeholder Consultation and Public Comment Process (March - April 2012).
  • Finalisation and launch of the EP III framework (May - July 2012).

*The timeline might be subject to further extension if deemed necessary.

The EP Association would like re-emphasise that it is committed to carrying out a robust and consultative process therefore appreciates the patience of stakeholders and look forwards sharing the first draft of EP III with stakeholders in early Spring.

The EP Association will aim to be open and transparent during the EP III Update process, and we welcome feedback and comments from any interested party on both process and substance. If you have not already joined the EP Association mailing list you can register your interest here.