Equator Principles Financial Institutions Meet in Washington D.C. for the Annual Equator Principles Meeting and IFC Community of Learning Events

Washington D.C. - 05-08 May 2008

The Equator Principles Financial Institutions were pleased to join IFC's Community of Learning, an event focussed on sharing lessons learned when implementing IFC's Performance Standards. The event was also attended by a number of environmental representatives of Development Finance Institutions (DFIs) from across the globe. On 6 May IFC hosted a dinner, where a presentation was given to mark the fifth anniversary of the Equator Principles, led by Herman Mulder, formerly of ABN Amro. These events were followed by the Annual Meeting of the Equator Principles Financial Institutions, held at the National Press Club. At the meeting Societe Generale were voted on to the Steering Committee and an administration function for the Committee was appointed. The Group also discussed the development of the Governance of the Principles.

Equator Principles Financial Institutions Meet in Washington D.C. for the Annual Equator Principles Meeting and IFC Community of Learning Events

Washington D.C. - 05-08 May 2008

The Equator Principles Financial Institutions were pleased to join IFC's Community of Learning, an event focussed on sharing lessons learned when implementing IFC's Performance Standards. The event was also attended by a number of environmental representatives of Development Finance Institutions (DFIs) from across the globe. On 6 May IFC hosted a dinner, where a presentation was given to mark the fifth anniversary of the Equator Principles, led by Herman Mulder, formerly of ABN Amro. These events were followed by the Annual Meeting of the Equator Principles Financial Institutions, held at the National Press Club. At the meeting Societe Generale were voted on to the Steering Committee and an administration function for the Committee was appointed. The Group also discussed the development of the Governance of the Principles.

EPFI Meetings

Amsterdam and Hamburg - 03-05 December 2007

On 3 December representatives from 25 EPFIs met to discuss the ongoing development of the Equator Principles. The meeting was hosted by ING Group. The discussions focussed on Equator Principle governance and the management structure, reporting, and shared good practice. On 4 December the EPFIs met with 15 NGOs at ABN Amro's headquarters. A pre-agreed agenda was followed based on items of mutual interest, which included governance, transparency, and grievance mechanisms at the project level. On 5 December EPFIs were pleased to be invited to meet 23 OECD Export Credit Agencies in Hamburg, hosted by Euler Hermes. The meeting provided an opportunity to better understand each others approach on transparency, experience in implementing the IFC Performance Standards, and how to further cooperation between the EPFIs and ECAs. The EPFIs also presented their experience in implementing the Equator Principles. In each instance, the meetings proved useful in furthering a better understanding by all sides and facilitating future discussion.

 

EPFIs Meet After Nearly One Year of EPII Implementation

Washington D.C. - 12-14 May 2007

On May 14, 26 out of 51 EPFIs met to discuss lessons learned and challenges related to EPII implementation. 6 recent adopters attended the event and made a significant contribution to the success of the meeting. EPFIs have been implementing the new Principles for nearly one year following their revision and launch in London last July. Bank of America hosted the day-long event in Washington, DC. Issues related to EPFI governance, disclosure and transparency related to Principle 10, and other items were discussed. This EPFI meeting was then followed by a 2-day series of meetings at the International Finance Corporation (IFC's) "Community of Learning" event which focused on lessons learned from application of the IFC Performance Standards. EPFIs interacted with and heard from IFC senior management and staff, and also had the opportunity to interact with a number of environmental representatives of Development Finance Institutions (DFIs) from across the globe.

For the guidance note on reporting related to Principle 10 of the Equator Principles, please see the attached document. (48k)

 

World Bank Group Environmental, Health, and Safety Guidelines updated

30 April 2007

New versions of the World Bank Group Environmental, Health, and Safety Guidelines (known as the 'EHS Guidelines') are now in use. They replace IFC Guidelines and World Bank Guidelines previously published in Part III of the Pollution Prevention and Abatement Handbook and on the IFC website.

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LeBoeuf, Lamb, Greene & MacRae Publishes Client Briefing on Equator Principles

London - January 2007

LeBoeuf, Lamb, Greene & MacRae, a leading global law firm, has published a client briefing on the Equator Principles. It is written by Paul Q. Watchman and Tim Baines.

The client briefing gives an overview of the Equator Principles, and highlights their background, prevalence and scope, but focuses on the implementation requirements for EP2. It also sets out a summary of the primary differences between Equator Principles 1 and Equator Principles 2. For the full text of the briefing please see the attached PDF (860k)

 

Wachovia Announces Comprehensive Strategy Addressing Environmental Protection

Charlotte, NC – 26 October 2006

Strategy Includes Strong Commitments in Forest Protection and Climate Change.

Wachovia Corp. today announced a significant environmental strategy including comprehensive commitments in the areas of forest protection and climate change. The strategy encompasses several important initiatives, including a commitment to a 10 percent reduction in Wachovia’s carbon dioxide emissions by 2010.

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IFC Launches New Sustainability Web Portal, Providing One-Stop Access to Its Sustainability Resources

Washington D.C. - 19 July 2006

The International Finance Corporation, the private sector arm of the World Bank Group, today launched its new Sustainability Web Portal. Responding to growing stakeholder interest, the portal connects visitors to IFC’s full range of sustainability products and services and explains the business case for sustainability – economic, financial, environmental, social, and related to corporate governance – with success stories from emerging markets.

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Financial Institutions Announce Revision of Equator Principles Underscoring the Global Application of Environmental and Social Risk Management

London - 06 July 2006

The Equator Principles Financial Institutions (EPFIs) today announced the launch of the revised Equator Principles. The revision underscores how far the financial sector has progressed in embedding in the project finance arena a common set of best practices to manage social and environmental risks related to project financing.

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EPFIs Review of Equator Principles

08 June 2006

During March-May 2006, the Equator Principles Financial Institutions (EPFIs) have engaged in a substantive review of the Equator Principles (EPs). As previously announced, the revisions to the existing EPs are being undertaken to 1) reflect implementation learning from the past 2 ½ years, 2) incorporate comments from various stakeholders received during this period, and 3) to ensure incorporation of, and consistency with, the IFC Performance Standards. The engagement and review process included outreach to key stakeholders (including clients, NGOs and various Official Agencies) on the proposed revisions. The engagement process was also extended to facilitate receipt of feedback from all stakeholder groups. The review process has now concluded, and EPFIs have considered comments received during this period. The EPFIs are now considering the final draft of the revised Principles and conducting their internal approval processes to re-adopt the EPs. The EPFI aim to make the new revised Principles publicly available via this website on July 6, 2006 – this shall also be the effective date for this new set of Equator Principles.