The Newly Revised IFC Performance Standards - Guidance on Implementation By EP Association Members From 1 January 2012
7 December 2011
The IFC has updated its Sustainability Framework, which includes the newly revised Performance Standards, and the IFC will be applying them from 1 January 2012. Consistent with the current Equator Principles (EP) framework, the EP Association Steering Committee has agreed that the newly revised IFC Performance Standards will also take effect for EP Association Members on 1 January 2012. Accordingly Exhibit III of the EPs (which refers to the 2006 IFC Performance Standards) will be updated on 1 January 2012 to reflect their implementation by EP Association members under the current EP framework.
Groundbreaking Bank Program Aims to Make Biodiversity a Key Factor in Lending Decisions
8 November 2011
The Equator Principles Association, World Wildlife Fund (WWF) and the Business and Biodiversity Offsets Program (BBOP) today announced the launch of a pioneering training program to help banks incorporate the value of nature into their lending decisions.
The Biodiversity for Banks (B4B) program is designed to help financial institutions overcome the challenges of incorporating risks associated with biodiversity and ecosystem services – all of the valuable resources provided by nature including safe drinking water – into their lending decisions.
Export Development Canada elected to Steering Committee of Equator Principles
4 November 2011
Export Development Canada (EDC) announced today that it was elected to the Steering Committee of the Equator Principles (EP) Association last week. The Equator Principles are a financial industry benchmark for determining, assessing and managing social and environmental risk in project financing. Currently 73 financial institutions in 27 countries have officially adopted the EPs, covering over 70 percent of international project finance debt in emerging markets. EDC first adopted the EPs in 2007, reflecting EDC’s ongoing commitment to conduct its international business in a socially and environmentally responsible manner. EDC is the first export credit agency and the first Canadian financial institution to be represented on the Steering Committee. Read More.
The Equator Principles Association hosts its largest ever Annual Meeting, launches the Biodiversity for Banks Program and contributes to the IFC's Community of Learning
24 -27 October 2011
The Equator Principles (EP) Association held its largest ever Annual Meeting on 24 October 2011 in Washington DC. Equator Principles Financial Institutions (EPFIs) and Associates discussed and debated numerous important topics related to the EP III Update process. Members heard proposals from Task Forces and Working Groups, who have been working on key thematic areas arising out the EP Strategic Review, including scope, climate change, reporting and transparency and further proposals on how to integrate the new IFC Performance Standards language on social risks, stakeholder engagement and human rights into EP III.
The Equator Principles Association Announces the Commencement of the EP III Update Process
18 July 2011
Following the conclusion of the IFC Performance Standards Update and Review process, the Equator Principles (EP) Strategic Review process and public release of the Executive Summary and Appendix of the EP Strategic Review consultant report and associated EP Association Summary Response on 24 May 2011 , the EP Association has initiated internal discussions on key thematic areas including:
- Scope of the EPs.
- Reporting and transparency.
- Governance issues, including membership criteria.
- Stakeholder engagement during the EP III Update process (including industry and clients, peer financial institutions, and civil society organisations).
Public Release: Equator Principles Strategic Review Consultant Report and Equator Principles Association Summary Response
24 May 2011
The Equator Principles (EP) Association is pleased to announce the conclusion of the Equator Principles Strategic Review Process with the public release of the Executive Summary and Appendix of the Equator Principles (EP) Strategic Review consultant report and associated EP Association Summary Response.
EP Association Members Meet Export Credit Agencies and The IFC in Paris
16 & 18 February 2011
On 16 February 2011, EP Association Members met with Export Credit Agencies at the OECD to discuss the OECD Common Approaches revisions process, and to exchange further information related to the EP Strategic Review process and other topics.
Update on the Equator Principles Strategic Review Process
03 December 2010
The Equator Principles Strategic Review Meeting was held in Beijing, China on December 1 - 2, 2010. The purpose of the meeting was to frame a strategic vision and plan for the Equator Principles to ensure that it continues to be the "gold standard" for financial institutions to manage environmental and social risk.
Press Release: The Equator Principles Association Launches Strategic Review Process
19 October 2010
The Equator Principles (EP) Association is pleased to announce today, 19 October 2010, the launch of a Strategic Review process intended to produce a multi-year strategic vision to ensure the EPs continue to be viewed as the “gold standard” in environmental and social risk management for project finance within the financial sector. There has been a significant growth in the number of EPs adopters since its inception in 2003, growing from ten initial adopters to over 65 financial institutions from around the globe, making the EPs a leading and respected voluntary standard for the financial sector.
EP Association Steering Committee’s Letter Submission to the IFC Regarding the Phase II Consultation of IFC Performance Standards Review and Update
27 August 2010
The Equator Principles Association (the Association) has actively participated in both Phase I and Phase II of the International Finance Corporation's (IFC) consultation on their proposed revisions to IFC Performance Standards. Phase II of the IFC Review and Update process commenced on 2 June 2010 and ended on 27 August 2010. As part of this consultation process, Association members analysed the proposed changes, and provided the IFC with feedback on key thematic issues. In order to increase the Association's transparency during this process, the EP Association Steering Committee's letter submitted to the IFC is being made publicly available.
Full text of letter submission (pdf - 94k)