Banco Pine S.A. adopts the Equator Principles

São Paulo, 07 December 2012

PINE, a wholesale bank specializing in maintaining long-term relationships with large companies and investors, hereby announces its adoption of the Equator Principles. PINE is the first and only Brazilian mid-sized bank to adopt such principles.

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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.

Finding Principles That Fit

22 November 2012 - Environmental Finance, Suellen Lazarus

The leading Equator Principles banks face huge challenges in reaching consensus on the latest reforms to the financing standards. Their proposals have much to commend them – but there is room to go further, says Suellen Lazarus. The steering committee guiding the redrafting of the Equator Principles (EPs) has faced a daunting task. With limited resources, under conflicting pressure from both inside and outside the group, and dealing with some of the world’s most complex environmental challenges, the EP Association has demonstrated finesse in negotiating the third iteration of the principles. Read More.

Finding Principles That Fit

22 November 2012 - Environmental Finance, Suellen Lazarus

The leading Equator Principles banks face huge challenges in reaching consensus on the latest reforms to the financing standards. Their proposals have much to commend them – but there is room to go further, says Suellen Lazarus. The steering committee guiding the redrafting of the Equator Principles (EPs) has faced a daunting task. With limited resources, under conflicting pressure from both inside and outside the group, and dealing with some of the world’s most complex environmental challenges, the EP Association has demonstrated finesse in negotiating the third iteration of the principles. Read More.

Finding Principles That Fit

22 November 2012 - Environmental Finance, Suellen Lazarus

The leading Equator Principles banks face huge challenges in reaching consensus on the latest reforms to the financing standards. Their proposals have much to commend them – but there is room to go further, says Suellen Lazarus. The steering committee guiding the redrafting of the Equator Principles (EPs) has faced a daunting task. With limited resources, under conflicting pressure from both inside and outside the group, and dealing with some of the world’s most complex environmental challenges, the EP Association has demonstrated finesse in negotiating the third iteration of the principles. Read More.

Sustainable finance: how far have the Equator Principles gone?

15 November 2012 - The Guardian, Oliver Balch

"Sustainable finance" finds itself very much in vogue these days. That wasn't the case ten years ago. Back then, bankers, insurers and investment folk wore suits, talked numbers, struck deals – and left worrying about the outside world to others. Today's shift in attitudes can arguably be dated back to early June 2003, when 10 international banks pledged to start applying social and environmental criteria to their lending. This wasn't your usual eco-banking small fry. The club included many of the big hitters of the day: Barclays, Citigroup, Credit Suisse and Rabobank, among others. Binding them all together was a set of rules and guidance documents that they called the Equator Principles. The banks behind the principles set two strict parameters right from the start. Read More.

Potential extension in scope of the Equator Principles

14 November 2012 - Lexology, Stephenson Harwood, Andrew Wiseman and Anita Kasseean

The Equator Principles are a set of voluntary social and environmental guidelines by which approximately 77 banks and other financial institutions (known as the Equator Principles Financial Institutions (EPFIs)) have agreed to be bound in making project finance decisions. EPFIs can refuse to provide loans to projects where the borrower is unable or unwilling to comply with their social and environmental policies and procedures. On 13 August 2012 the Equator Principles Association released a draft of the third version of the Equator Principles (EP3) for stakeholder consultation and public comment. The consultation period closed on 12 October 2012. Read More.

The Equator Principles to embrace climate change considerations

13 November 2012 - Lexology, Jones Day, Chris Papanicolaou and James Campbell

The Equator Principles, "a credit risk management framework for determining, assessing and managing environmental and social risk" in project finance deals, arose from a 2002 meeting in London among nine international banks and the International Finance Corporation of the World Bank.  Equator Principles Financial Institutions ("EPFI") voluntarily agree not to provide "project related loans and project finance advisory services to projects where the borrower will not, or is unable to comply with, the Equator Principles." Read More.

Fidelity Bank Plc Adopts the Equator Principles

Lagos, 01 November  2012

One of Nigeria’s leading Commercial banks, Fidelity Bank Plc, has further demonstrated its commitment to environmental sustainability by adopting the Equator Principles. The Equator Principles are a credit risk management framework for determining, assessing and managing environmental and social risk in project finance. The Principles are adopted voluntarily by financial institutions and are applied where total project capital costs exceed US$10 million. By adopting the Equator Principles, Fidelity Bank commits to providing loans only to projects where the borrower will comply with the Equator Principles.

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BankTrack comments on draft Equator Principles III

12 October 2012 - BankTrack

BankTrack, the international NGO network monitoring investment decisions and sustainability commitments of large international banks, today submitted its comments on the Equator Principles III draft text (EPIII). The submission followed a meeting in London on September 25 where BankTrack shared its view on EPIII with the Equator Principles Association.  Read More.