ICO Signs Up To The Equator Principles

Madrid, 26 October 2016

ICO's General Board approved the institution's decision to become a signatory to the Equator Principles at its meeting on Friday 21 October, as part of the framework of commitments in its CSR and environmental policies.

The Principles, which are voluntary but widely recognised internationally, require signatory financial institutions to guarantee that the projects to which they offer financing or advice are undertaken sustainably. A total of 83 financial institutions from 36 countries have signed up to the Principles created in 2003 by the International Finance Corporation (World Bank), including five Spanish banks and European development banks similar to ICO, such as the KfW in Germany. 

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Banco Votorantim Adopts the Equator Principles

São Paulo, 30 June 2016

Banco Votorantim has become signatory of the Equator Principles, a risk management framework, adopted by financial institutions, for determining, assessing and managing environmental and social risk in projects and is primarily intended to provide a minimum standard for due diligence to support responsible risk decision-making. The voluntary decision of Banco Votorantim supports the Social and Environmental Sustainability and Responsibility Policy (PSRSA) that guide its activities and operations. Banco Votorantim is the 5th Brazilian bank to become signatory, representing 85 institutions worldwide.

“In adopting the Equator Principles, Banco Votorantim reaffirms the commitment already demonstrated by establishing ethical, transparent and everlasting relationships that make a difference and add value where we operate, considering the economic, social, environmental and human aspects in our processes and business”, says João Roberto Gonçalves Teixeira, CEO of Banco Votorantim.

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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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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.