Review of the Equator Principles – Towards EP4

16 March 2018

The EP Association is undertaking a targeted review of the Equator Principles (see statement released in November 2017). Since the announcement following the 2017 EP AGM, the EP Association has initiated internal discussions on key thematic areas including:

  • Social impact and human rights
  • Climate change
  • Designated Countries and Applicable Standards
  • Scope of applicability of the EPs

Our ambition is that the update process will take up to 18 months, and have set provisional dates for the planned activities, internal and external stakeholder engagement and public commenting process, however these may be subject to revision or extension at any time.

  • Phase I – Organization and set-up for EP4 review process (January – March 2018)
  • Phase II – Focused EP Association group work and internal discussion on key topics and thematic areas, including Initial Stakeholder Consultation (March – September 2018)
  • Phase III – Agreement with the EP Association membership and initial drafting of the EP4 targeted update (September – January 2019)
  • Phase IV – Second round of stakeholder consultation (February – May 2019). Note the EP Association will be providing a more detailed timeline for this at a later date.
  • Phase V – Finalisation and launch of the EP4 targeted update (May – August 2019)

As part of the external stakeholder engagement process, the EP Association will take the opportunity to gather feedback and recommendations that will be considered for strategic direction of the EPA and subsequent updates. Any interested stakeholder may submit feedback within the review (below), and sign up to be alerted when any EP review updates are posted.

Please note: The Association appreciates all submissions and will take all stakeholder feedback in aggregate into account, however, we do not have the capacity to respond individually to each submission.

UPDATE: 22 June 2018

The EP Association is currently in Phase II of the EP4 update, with two streams of work underway:

Stakeholder consultations

An independent third party has been engaged to undertake a review covering elements of the wider EP strategy and the targeted ‘EP4’ update. The review includes a set of interviews, an online survey, and written feedback received via the form available on this page. Stakeholders representing regulators, academia, financial institutions, clients, industry associations and civil society groups are among the groups included. The review is expected to be completed by the end of July 2018.

EPFI Working Groups

Parallel to the stakeholder consultations, EPFI Working Groups are reviewing the sections of the EPs relevant to the key thematic areas identified for targeted update: social impact and human rights, climate change, designated countries and applicable standards, and scope of applicability of the EPs. Once each Working Group is in the process of proposing changes to the text, they will be reviewed initially by the Steering Committee, then presented to the membership. The Working Groups are led by EPFIs themselves and comprise members that volunteered to engage in the review process. Any member EPFI is eligible to join a Working Group to contribute to the process of working towards draft text for EPA-wide review at the annual meeting in October this year.

As always, any interested stakeholder is invited to subscribe to news alerts, and to submit feedback via the online web form. A second round of stakeholder consultation is planned for early 2019 (indicatively February – May 2019), on the basis of a set of potential changes to the EP text.

UPDATE: 8 October 2018

The EP Association is making tangible progress with the targeted update of the EPs, with a draft set of ‘EP4’ thematic proposals for members to debate at the upcoming Annual Meeting.

The first round of stakeholder consultation has now been completed. As communicated on the EP website previously, Phase II of the EP4 update process entailed focused EP Association group work and internal discussion on key topics and thematic areas, as well as external Stakeholder Consultation, and lasted from March – September 2018. The EP Association appreciated receiving feedback from a diverse group of stakeholders, and would like to express our thanks for the input received. An independent third party (ERM) was engaged in May to undertake a review covering elements of the wider EP strategy and the targeted EP4 update. ERM led the external Stakeholder Consultation process, which included interviews, an online survey, and written feedback via the EP website was conducted with a diverse group of stakeholders representing regulators, academia, financial institutions, clients, industry associations and civil society groups.

Taking stakeholders’ views and expectations into consideration, member-led working groups have been active developing and reviewing thematic proposals on changed wording. Proposed draft changes to the EP text have been developed for the following target areas:

• Social Risk (social impact and human rights)
• Climate Change
• Designated Countries and applicable standards, and
• Scope of Applicability of the EPs.

The Association has now moved into Phase III of the update process as we share detailed working group proposals with the wider EPFI membership. The proposals are being shared through the EP Association regional groups and detailed discussions will occur at the upcoming Annual Meeting during October 2018. An update will be shared by the Association after the event*.

A second round of public and stakeholder consultation is planned for early 2019 (indicatively February – May 2019), which will be conducted on the basis of the draft changes to the EP text.

Any interested organisation or individual is invited to subscribe to news alerts, and to submit feedback via the online web form. All subscribers to the EP4 mailing list will receive notice when consultation on the draft text is announced.

* Following the 2017 EP AGM and as part of the announcement of the EP 4 update process, the EP Association discussed developing a clarification note regarding application of the EPs in Designated Countries. As EP4 update working group discussions began, it became clear that our efforts should focus on the longer update process, as a quick agreement on clarifications for Designated Countries would distract from the work needed to develop the EP4 draft. All work on updating our approach in Designated Countries will be reflected in the EP4 update rather than in an interim clarification note.

UPDATE: Equator Principles Annual Meeting 2018 – Meeting Outcomes

The Equator Principles Association Annual Meeting was held in Washington D.C. on 16-18 October with attendees from over 50 Equator Principles Financial Institutions (EPFIs).

15thAnniversary of the EPs

The Chair’s opening recognised that the Equator Principles (EPs) launched 15 years ago and has had a strong impact on the project financing market.  The Chair also recognized that an update to the Principles was necessary to keep up with the changing sustainable finance landscape. The Association thanks the International Finance Corporation (IFC) for early support, positive communications around the anniversary, and most of all for hosting this milestone event.

EP4 themes

The focus of the meeting this year was on evaluating proposed updates to the Equator Principles. The targeted update to the EPs  – ‘EP4’ – considers four key  themes: Social Impact and Human Rights, Climate Change, Designated Countries, and Scope of Applicability of the EPs. An additional proposal on biodiversity data sharing was also discussed.

Over the course of 2.5 days, each of the four key Working Groups presented their detailed proposals to the wider membership for feedback and debate. All of the sessions were very engaging with presentations, detailed discussions between members, question and answer and straw polling. Significant progress was made in narrowing down options for inclusion in the updated text. General agreements were made under each of the themes.

While the EP4 update will remain in the project-related space, work groups will be strategically formed to consider environmental and social risk decision-making in other financial products.

Over the next few weeks, the draft EP4 proposed text will be updated by the Working Groups, taking into account the feedback given at the meetings as well as some legal and feasibility checks.

The EP Association aims to be ready for Round 2 of external stakeholder consultation in Q1 2019 (per the originally communicated timetable)which will involve stakeholder consultation on the draft including a series of regional meetings or webinars. The intent would be to get feedback on the proposed changes from clients, Affected Communities and other stakeholders.

Commissioned reports

As inputs to the meeting, the Association commissioned a Strategic Review (conducted by ERM) and guidance to the Social Risk Working Group (provided by Shift). Summaries of each report and their recommendations will be released in the coming weeks.

Key themes for further inquiry

The meeting recognised that other important themes exist which were not addressed through the targeted EP4 update. Among the topics discussed were opportunities and the need to improve: transparency, disclosure and reporting; consistency in implementation; eligibility, accountability, and assurance; and grievance handling.The Steering Committee is currently considering additional efforts required around these themes and how to take them forward.

Stakeholder input

On Tuesday 16 October, several EPFIs attended an event organised by BankTrack and hosted at Friends of the Earth USA. Representatives from a number of civil society groups were present, including theWomen’s Earth and Climate Action Network (WECAN), Honor The Earth, Rainforest Action Network, Market Forces, Sierra Club, and Greenpeace USA. The Association recognizes the efforts of BankTrack in initiating this valuable event.

As always, any interested organisation or individual is invited to subscribe to news alerts, and to submit feedback via the online web form. All subscribers to the EP4 mailing list will receive notice when consultation on the draft EP4 text is announced.

UPDATE: 21 December 2018 

The Equator Principles Association Annual Meeting was held in Whasington D.C. on 16-18 October with focus on the internal development of the EP4 draft. A summary of outcomes was published online.

Commissioned reports

As inputs to the meeting, the Association commissioned two reports: s Strategic Review, conducted by ERM, and guidance to the Social Risk Working Group (SRWG), provided by Shift. Each supplier was commissioned through a competitive tender process with the supervision and agreement of the Steering Committee (SC).

More than 50 respondents provided feedback through interviews, surveys, or online questionnaire. The Equator Principles Association Steering Committee would like to sincerely thank all those who participated in the process. Summaries of each report and their recommendations are hereby shared publicly.

EPA Strategic Review Report: Executive Summary (ERM)

Enhancing the Alignment of the Equator Principles with the UN Guiding Principles on Business and Human Rights: A Public Summary of Shift’s Advice to the EPA

The Association continues to actively consider the findings and recommendations of both reports, and may specify which recommendations were taken up either in EP4 or through other EPA initiatives. Where relevant, we will identify which recommendations were not considered appropriate or de-prioritised.

Stakeholder feedback

Comments on these reports are welcome from any stakeholder. Any interested or organization or individual is invited to submit feedback via the online web form. All subscribers to the EP4 mailing list will receive notice when the draft EP4 text is released.

UPDATE: Review of the Equator Principles – Phase IV 

Progress continues towards the development of an updated Equator Principles ‘EP4’ text. We are now finalising Phase III ‘Agreement with the EP Association membership and initial drafting of the EP4 targeted update’ and transitioning into Phase IV ‘Second round of stakeholder consultation’.

This external stakeholder consultation phase will be somewhat delayed as compared to previously communicated timeframes whilst we complete internal consultation and approval processes, and undertake a legal review of the changes proposed. Norton Rose Fulbright have been contracted to complete a detailed review of the draft text to ensure that there are no legal issues with the draft text before it is released into the public domain.

It is anticipated that the consultation process will now begin in May once the draft text has been approved for public release by the Association members.

An independent third party, BSR, has now been engaged to conduct the external engagement and will facilitate a series of regional webinars and/or face to face sessions where stakeholders can provide specific feedback on the detail of the proposed changes. In addition, an online form on the Equator Principles website will again be made available for anyone wishing to provide feedback. The text will be made available on the website so that all interested parties can provide informed comment.

As has been previously outlined, this will be a targeted update primarily focusing on the following key areas: Social impact and human rights, Climate change, Designated Countries and Applicable Standards and Scope of applicability of the EPs.  The EPA has previously noted that this targeted update will focus primarily on the areas outlined above and may not address all potential areas for change. Feedback beyond the scope of EP4 will be noted for consideration as part of subsequent updates.

Following the completion of the external consultation process, the Association will take stakeholders’ views and expectations into consideration to see where these could be incorporated into the EPs or other mechanisms, as appropriate. Following a final legal review and approval by the EPA, the final EP4 text is due to be released in mid-late 2019.

At any time, any interested stakeholder may submit feedback and sign up to be alerted when any EP review updates, including the draft text, are posted via: https://equator-principles.com/ep4/.

16 de Marzo de 2018

La Asociación de los Principios del Ecuador está llevando a cabo una revisión focalizada de los Principios del Ecuador (véase la declaración publicada en noviembre del 2017). Tras el anuncio divulgado durante la Reunión General Anual de los Principios de Ecuador de 2017, la Asociación de los Principios del Ecuador ha iniciado discusiones internas sobre áreas temáticas clave, las cuales incluyen:

  • Impacto social y derechos humanos
  • Cambio climático
  • Países designados y estándares aplicables
  • Alcance de la aplicación de los Principios del Ecuador

Estimamos que el proceso de revisión tomará hasta 18 meses. Hemos establecido fechas tentativas para las actividades planificadas como, la participación de las partes interesadas internas y externas, y el proceso de consulta pública. Sin embargo, estos plazos pueden ser revisados o ampliados en cualquier momento.

  • Fase I – Organización y configuración del proceso de revisión de los Principios de Ecuador‘EP4’ – (enero- marzo de 2018)
  • Fase II – Trabajo grupalfocalizado y discusiones internas sobre las temáticas clave, y consulta inicial a las partes interesadas (marzo – septiembre de 2018).
  • Fase III – Acuerdo entre los miembros de la Asociación y redacción inicial de la revisión focalizada‘EP4’ (septiembre – enero de 2019)
  • Fase IV –Segunda ronda de consultasalas partes interesadas (febrero – mayo de 2019). La Asociación proporcionará un calendario más detallado para ello en una fecha posterior.
  • Fase IV – Conclusiónylanzamiento de la revisión focalizada‘EP4’ (mayo – agosto de 2019)

Como parte del proceso de participación de las partes interesadas externas, la Asociación de los Principios del Ecuador recopilará comentarios y recomendaciones que se considerarán para la dirección estratégica de la Asociación y las actualizaciones posteriores. Todas las partes interesadas pueden enviar sus comentarios mediante el formulario (abajo) y registrarse para recibir notificaciones cuando se publiquen actualizaciones sobre la revisión de los Principios del Ecuador.

Téngase en cuenta: la Asociación aprecia todos los envíos y tomará en cuenta todos los comentarios de las partes interesadas en su conjunto. Sin embargo, no tenemos la capacidad de responder individualmente a cada envío.

ACTUALIZACIÓN: 22 de junio de 2018

La Asociación de los Principios del Ecuador se encuentra actualmente en la Fase II de la revisión “EP4”, con dos líneas de trabajo en curso:

Consultas con las partes interesadas

La Asociación de los Principios del Ecuador contrató a un consultor independiente para llevar a cabo una revisión abarcando elementos de la estrategia más amplia de los Principios de Ecuador y la actualización de los Principios de Ecuador ‘EP4’. La revisión incluye un conjunto de entrevistas, una encuesta en línea y comentarios por escrito recibidos a través del formulario disponible en esta página. Las partes interesadas que representan a reguladores, académicos, instituciones financieras, clientes, asociaciones industriales y grupos de la sociedad civil se encuentran entre los grupos incluidos. Se espera que la revisión se complete a finales de julio de 2018.

Grupos de trabajo conformados por entidades financieras de los Principios de Ecuador (EPFIs)

Paralelamente a las consultas con las partes interesadas, los grupos de trabajo conformados por EPFIs (EPFI Working Groups) están revisando las secciones de los Principios del Ecuador relevantes para las temáticas clave identificadas en el marco de la revisión focalizada: impacto social y derechos humanos, cambio climático, Países designados y estándares aplicables, y alcance de la aplicación de los Principios del Ecuador. Cada grupo de trabajo trabajará en una propuesta para el texto de cada temática, inicialmente el Comité Directivo revisará estos cambios, y luego serán presentados al conjunto de las EPFIs. Los grupos de trabajo están dirigidos por las propias EPFIs y están conformados por miembros que se ofrecieron como voluntarios para participar en el proceso de revisión. Cualquier EPFI es elegible para unirse a un grupo de trabajo y contribuir al proceso de redacción del borrador del texto, para su revisión por el conjunto de las EPFIs durante la reunión anual de la Asociación que tendrá lugar en octubre de este año.

Como siempre, se invita a las partes interesadas a registrarse para recibir alertas de noticias y a enviar sus comentarios a través del formulario en línea. Una segunda ronda de consultas a los interesados está prevista para principios de 2019 (tentativamente en febrero – mayo de 2019), con base en el conjunto de cambios potenciales al texto de los Principios del Ecuador.

UPDATE: 8 October 2018

The EP Association is making tangible progress with the targeted update of the EPs, with a draft set of ‘EP4’ thematic proposals for members to debate at the upcoming Annual Meeting.

The first round of stakeholder consultation has now been completed. As communicated on the EP website previously, Phase II of the EP4 update process entailed focused EP Association group work and internal discussion on key topics and thematic areas, as well as external Stakeholder Consultation, and lasted from March – September 2018. The EP Association appreciated receiving feedback from a diverse group of stakeholders, and would like to express our thanks for the input received. An independent third party (ERM) was engaged in May to undertake a review covering elements of the wider EP strategy and the targeted EP4 update. ERM led the external Stakeholder Consultation process, which included interviews, an online survey, and written feedback via the EP website was conducted with a diverse group of stakeholders representing regulators, academia, financial institutions, clients, industry associations and civil society groups.

Taking stakeholders’ views and expectations into consideration, member-led working groups have been active developing and reviewing thematic proposals on changed wording. Proposed draft changes to the EP text have been developed for the following target areas:

• Social Risk (social impact and human rights)
• Climate Change
• Designated Countries and applicable standards, and
• Scope of Applicability of the EPs.

The Association has now moved into Phase III of the update process as we share detailed working group proposals with the wider EPFI membership. The proposals are being shared through the EP Association regional groups and detailed discussions will occur at the upcoming Annual Meeting during October 2018. An update will be shared by the Association after the event*.

A second round of public and stakeholder consultation is planned for early 2019 (indicatively February – May 2019), which will be conducted on the basis of the draft changes to the EP text.

Any interested organisation or individual is invited to subscribe to news alerts, and to submit feedback via the online web form. All subscribers to the EP4 mailing list will receive notice when consultation on the draft text is announced.

* Following the 2017 EP AGM and as part of the announcement of the EP 4 update process, the EP Association discussed developing a clarification note regarding application of the EPs in Designated Countries. As EP4 update working group discussions began, it became clear that our efforts should focus on the longer update process, as a quick agreement on clarifications for Designated Countries would distract from the work needed to develop the EP4 draft. All work on updating our approach in Designated Countries will be reflected in the EP4 update rather than in an interim clarification note.

UPDATE: Equator Principles Annual Meeting 2018 – Meeting Outcomes

The Equator Principles Association Annual Meeting was held in Washington D.C. on 16-18 October with attendees from over 50 Equator Principles Financial Institutions (EPFIs).

15thAnniversary of the EPs

The Chair’s opening recognised that the Equator Principles (EPs) launched 15 years ago and has had a strong impact on the project financing market.  The Chair also recognized that an update to the Principles was necessary to keep up with the changing sustainable finance landscape. The Association thanks the International Finance Corporation (IFC) for early support, positive communications around the anniversary, and most of all for hosting this milestone event.

EP4 themes

The focus of the meeting this year was on evaluating proposed updates to the Equator Principles. The targeted update to the EPs  – ‘EP4’ – considers four key  themes: Social Impact and Human Rights, Climate Change, Designated Countries, and Scope of Applicability of the EPs. An additional proposal on biodiversity data sharing was also discussed.

Over the course of 2.5 days, each of the four key Working Groups presented their detailed proposals to the wider membership for feedback and debate. All of the sessions were very engaging with presentations, detailed discussions between members, question and answer and straw polling. Significant progress was made in narrowing down options for inclusion in the updated text. General agreements were made under each of the themes.

While the EP4 update will remain in the project-related space, work groups will be strategically formed to consider environmental and social risk decision-making in other financial products.

Over the next few weeks, the draft EP4 proposed text will be updated by the Working Groups, taking into account the feedback given at the meetings as well as some legal and feasibility checks.

The EP Association aims to be ready for Round 2 of external stakeholder consultation in Q1 2019 (per the originally communicated timetable)which will involve stakeholder consultation on the draft including a series of regional meetings or webinars. The intent would be to get feedback on the proposed changes from clients, Affected Communities and other stakeholders.

Commissioned reports

As inputs to the meeting, the Association commissioned a Strategic Review (conducted by ERM) and guidance to the Social Risk Working Group (provided by Shift). Summaries of each report and their recommendations will be released in the coming weeks.

Key themes for further inquiry

The meeting recognised that other important themes exist which were not addressed through the targeted EP4 update. Among the topics discussed were opportunities and the need to improve: transparency, disclosure and reporting; consistency in implementation; eligibility, accountability, and assurance; and grievance handling.The Steering Committee is currently considering additional efforts required around these themes and how to take them forward.

Stakeholder input

On Tuesday 16 October, several EPFIs attended an event organised by BankTrack and hosted at Friends of the Earth USA. Representatives from a number of civil society groups were present, including theWomen’s Earth and Climate Action Network (WECAN), Honor The Earth, Rainforest Action Network, Market Forces, Sierra Club, and Greenpeace USA. The Association recognizes the efforts of BankTrack in initiating this valuable event.

As always, any interested organisation or individual is invited to subscribe to news alerts, and to submit feedback via the online web form. All subscribers to the EP4 mailing list will receive notice when consultation on the draft EP4 text is announced.

UPDATE: 21 December 2018 

The Equator Principles Association Annual Meeting was held in Whasington D.C. on 16-18 October with focus on the internal development of the EP4 draft. A summary of outcomes was published online.

Commissioned reports

As inputs to the meeting, the Association commissioned two reports: s Strategic Review, conducted by ERM, and guidance to the Social Risk Working Group (SRWG), provided by Shift. Each supplier was commissioned through a competitive tender process with the supervision and agreement of the Steering Committee (SC).

More than 50 respondents provided feedback through interviews, surveys, or online questionnaire. The Equator Principles Association Steering Committee would like to sincerely thank all those who participated in the process. Summaries of each report and their recommendations are hereby shared publicly.

EPA Strategic Review Report: Executive Summary (ERM)

Enhancing the Alignment of the Equator Principles with the UN Guiding Principles on Business and Human Rights: A Public Summary of Shift’s Advice to the EPA

The Association continues to actively consider the findings and recommendations of both reports, and may specify which recommendations were taken up either in EP4 or through other EPA initiatives. Where relevant, we will identify which recommendations were not considered appropriate or de-prioritised.

Stakeholder feedback

Comments on these reports are welcome from any stakeholder. Any interested or organization or individual is invited to submit feedback via the online web form. All subscribers to the EP4 mailing list will receive notice when the draft EP4 text is released.

UPDATE: Review of the Equator Principles – Phase IV 

Progress continues towards the development of an updated Equator Principles ‘EP4’ text. We are now finalising Phase III ‘Agreement with the EP Association membership and initial drafting of the EP4 targeted update’ and transitioning into Phase IV ‘Second round of stakeholder consultation’.

This external stakeholder consultation phase will be somewhat delayed as compared to previously communicated timeframes whilst we complete internal consultation and approval processes, and undertake a legal review of the changes proposed. Norton Rose Fulbright have been contracted to complete a detailed review of the draft text to ensure that there are no legal issues with the draft text before it is released into the public domain.

It is anticipated that the consultation process will now begin in May once the draft text has been approved for public release by the Association members.

An independent third party, BSR, has now been engaged to conduct the external engagement and will facilitate a series of regional webinars and/or face to face sessions where stakeholders can provide specific feedback on the detail of the proposed changes. In addition, an online form on the Equator Principles website will again be made available for anyone wishing to provide feedback. The text will be made available on the website so that all interested parties can provide informed comment.

As has been previously outlined, this will be a targeted update primarily focusing on the following key areas: Social impact and human rights, Climate change, Designated Countries and Applicable Standards and Scope of applicability of the EPs.  The EPA has previously noted that this targeted update will focus primarily on the areas outlined above and may not address all potential areas for change. Feedback beyond the scope of EP4 will be noted for consideration as part of subsequent updates.

Following the completion of the external consultation process, the Association will take stakeholders’ views and expectations into consideration to see where these could be incorporated into the EPs or other mechanisms, as appropriate. Following a final legal review and approval by the EPA, the final EP4 text is due to be released in mid-late 2019.

At any time, any interested stakeholder may submit feedback and sign up to be alerted when any EP review updates, including the draft text, are posted via: https://equator-principles.com/ep4/.

16 Mars 2018

L’Association des Principes de l’Équateur a entrepris une révision ciblée des Principes de l’Équateur (voir la déclaration publiée en novembre 2017). Suite à l’annonce faite à l’issue de l’Assemblée Générale Annuelle des Principes de l’Équateur de 2017, l’Association des Principes de l’Équateur a entamé des discussions internes sur des domaines thématiques clés, notamment :

  • Les impacts sociaux et droits humains
  • Le changement climatique
  • Les Pays Désignés et standards applicables
  • Le champ d’application des Principes de l’Équateur

Nous estimons que le processus de mise à jour prendra jusqu’à 18 mois. Nous avons établi un calendrier provisoire pour les activités planifiées, l’engagement des parties prenantes internes et externes et le processus de consultation publique. Cependant ces délais peuvent être revus ou étendus à tout moment.

  • Phase I – Organisation et mise en place du processus de révision ‘EP4’ – (janvier-mars 2018)
  • Phase II – Travail ciblé au sein de l’Association des Principes de l’Équateur et discussions internes sur les sujets et domaines thématiques clés, dont consultation initiale des parties prenantes (mars – septembre 2018).
  • Phase III – Accord entre les membres de l’Association et rédaction initiale de la mise à jour ciblée des Principes de l’Équateur ‘EP4’ (septembre – janvier 2019)
  • Phase IV – Deuxième série de consultations des parties prenantes (février – mai 2019). Notez que l’Association fournira un calendrier plus détaillé pour cela à une date ultérieure.
  • Phase IV – Finalisation et lancement de la version révisée ‘EP4’ (mai – août 2019)

Dans le cadre du processus d’engagement des parties prenantes externes, l’Association des Principes de l’Équateur recueillera des commentaires et des recommandations qui seront pris en compte pour l’orientation stratégique de l’Association et les mises à jour ultérieures. Toute partie intéressée peut soumettre des commentaires dans le cadre de la révision (à travers le formulaire en ligne disponible ci-dessous) et s’inscrire pour être alertée lorsque des nouvelles sur la révision des Principes de l’Équateur sont publiées.

Veuillez noter : L’Association des Principes de l’Équateur apprécie toutes les propositions et tiendra compte de l’ensemble des commentaires fournis. Cependant, nous n’avons pas la capacité de répondre individuellement à chaque commentaire.

Actualisation au 22 juin 2018

L’Association des Principes de l’Équateur est actuellement en phase II de la mise à jour EP4, avec deux axes de travaux en cours:

Consultation des parties prenantes

Un consultant indépendant a été engagé pour entreprendre un examen des éléments de la Stratégie des Principes de l’Équateur dans son ensemble et la révision ciblée ‘EP4’. L’examen comprend une série d’entretiens, un sondage en ligne et des commentaires écrits reçus par le biais du formulaire disponible en bas de cette page. Les parties prenantes incluent des représentants des organismes régulateurs, universités, institutions financières, clients, associations d’industries et groupes de la société civile. L’examen devrait être terminé d’ici la fin juillet 2018.

Groupes de travail (EPFI Working Groups)

Parallèlement aux consultations des parties prenantes, des groupes de travail constitués d’Établissements financiers qui appliquent les Principes de l’Équateur (“EPFIs”) examinent les sections des Principes de l’Équateur relatives aux domaines thématiques clés identifiés pour une mise à jour ciblée : impacts sociaux et droits humains, changement climatique, Pays Désignés et normes applicables, et champ d’application des Principes de l’Équateur. Lorsqu’un groupe de travail propose des changements au texte, ils seront d’abord examinés par le comité directeur de l’Association, puis présentés aux membres. Les groupes de travail sont dirigés par les EPFIs eux-mêmes et incluent des membres qui se sont portés volontaires pour participer au processus de révision. Tout EPFI membre peut se joindre à un groupe de travail et contribuer au processus d’élaboration d’un projet de texte qui sera examiné par l’ensemble de l’Association lors de la réunion annuelle qui aura lieu en Octobre de cette année.

Comme toujours, toute partie intéressée est invitée à s’inscrire pour recevoir des alertes lorsque des nouvelles sont publiées et à envoyer des commentaires via le formulaire en ligne. Une deuxième série de consultations des parties prenantes est prévue pour début 2019 (à titre indicatif de février à mai 2019), sur la base d’un ensemble de modifications potentielles du texte des Principes de l’Équateur.

UPDATE: 8 October 2018

The EP Association is making tangible progress with the targeted update of the EPs, with a draft set of ‘EP4’ thematic proposals for members to debate at the upcoming Annual Meeting.

The first round of stakeholder consultation has now been completed. As communicated on the EP website previously, Phase II of the EP4 update process entailed focused EP Association group work and internal discussion on key topics and thematic areas, as well as external Stakeholder Consultation, and lasted from March – September 2018. The EP Association appreciated receiving feedback from a diverse group of stakeholders, and would like to express our thanks for the input received. An independent third party (ERM) was engaged in May to undertake a review covering elements of the wider EP strategy and the targeted EP4 update. ERM led the external Stakeholder Consultation process, which included interviews, an online survey, and written feedback via the EP website was conducted with a diverse group of stakeholders representing regulators, academia, financial institutions, clients, industry associations and civil society groups.

Taking stakeholders’ views and expectations into consideration, member-led working groups have been active developing and reviewing thematic proposals on changed wording. Proposed draft changes to the EP text have been developed for the following target areas:

• Social Risk (social impact and human rights)
• Climate Change
• Designated Countries and applicable standards, and
• Scope of Applicability of the EPs.

The Association has now moved into Phase III of the update process as we share detailed working group proposals with the wider EPFI membership. The proposals are being shared through the EP Association regional groups and detailed discussions will occur at the upcoming Annual Meeting during October 2018. An update will be shared by the Association after the event*.

A second round of public and stakeholder consultation is planned for early 2019 (indicatively February – May 2019), which will be conducted on the basis of the draft changes to the EP text.

Any interested organisation or individual is invited to subscribe to news alerts, and to submit feedback via the online web form. All subscribers to the EP4 mailing list will receive notice when consultation on the draft text is announced.

* Following the 2017 EP AGM and as part of the announcement of the EP 4 update process, the EP Association discussed developing a clarification note regarding application of the EPs in Designated Countries. As EP4 update working group discussions began, it became clear that our efforts should focus on the longer update process, as a quick agreement on clarifications for Designated Countries would distract from the work needed to develop the EP4 draft. All work on updating our approach in Designated Countries will be reflected in the EP4 update rather than in an interim clarification note.

UPDATE: Equator Principles Annual Meeting 2018 – Meeting Outcomes

The Equator Principles Association Annual Meeting was held in Washington D.C. on 16-18 October with attendees from over 50 Equator Principles Financial Institutions (EPFIs).

15thAnniversary of the EPs

The Chair’s opening recognised that the Equator Principles (EPs) launched 15 years ago and has had a strong impact on the project financing market.  The Chair also recognized that an update to the Principles was necessary to keep up with the changing sustainable finance landscape. The Association thanks the International Finance Corporation (IFC) for early support, positive communications around the anniversary, and most of all for hosting this milestone event.

EP4 themes

The focus of the meeting this year was on evaluating proposed updates to the Equator Principles. The targeted update to the EPs  – ‘EP4’ – considers four key  themes: Social Impact and Human Rights, Climate Change, Designated Countries, and Scope of Applicability of the EPs. An additional proposal on biodiversity data sharing was also discussed.

Over the course of 2.5 days, each of the four key Working Groups presented their detailed proposals to the wider membership for feedback and debate. All of the sessions were very engaging with presentations, detailed discussions between members, question and answer and straw polling. Significant progress was made in narrowing down options for inclusion in the updated text. General agreements were made under each of the themes.

While the EP4 update will remain in the project-related space, work groups will be strategically formed to consider environmental and social risk decision-making in other financial products.

Over the next few weeks, the draft EP4 proposed text will be updated by the Working Groups, taking into account the feedback given at the meetings as well as some legal and feasibility checks.

The EP Association aims to be ready for Round 2 of external stakeholder consultation in Q1 2019 (per the originally communicated timetable)which will involve stakeholder consultation on the draft including a series of regional meetings or webinars. The intent would be to get feedback on the proposed changes from clients, Affected Communities and other stakeholders.

Commissioned reports

As inputs to the meeting, the Association commissioned a Strategic Review (conducted by ERM) and guidance to the Social Risk Working Group (provided by Shift). Summaries of each report and their recommendations will be released in the coming weeks.

Key themes for further inquiry

The meeting recognised that other important themes exist which were not addressed through the targeted EP4 update. Among the topics discussed were opportunities and the need to improve: transparency, disclosure and reporting; consistency in implementation; eligibility, accountability, and assurance; and grievance handling.The Steering Committee is currently considering additional efforts required around these themes and how to take them forward.

Stakeholder input

On Tuesday 16 October, several EPFIs attended an event organised by BankTrack and hosted at Friends of the Earth USA. Representatives from a number of civil society groups were present, including theWomen’s Earth and Climate Action Network (WECAN), Honor The Earth, Rainforest Action Network, Market Forces, Sierra Club, and Greenpeace USA. The Association recognizes the efforts of BankTrack in initiating this valuable event.

As always, any interested organisation or individual is invited to subscribe to news alerts, and to submit feedback via the online web form. All subscribers to the EP4 mailing list will receive notice when consultation on the draft EP4 text is announced.

UPDATE: 21 December 2018 

The Equator Principles Association Annual Meeting was held in Whasington D.C. on 16-18 October with focus on the internal development of the EP4 draft. A summary of outcomes was published online.

Commissioned reports

As inputs to the meeting, the Association commissioned two reports: s Strategic Review, conducted by ERM, and guidance to the Social Risk Working Group (SRWG), provided by Shift. Each supplier was commissioned through a competitive tender process with the supervision and agreement of the Steering Committee (SC).

More than 50 respondents provided feedback through interviews, surveys, or online questionnaire. The Equator Principles Association Steering Committee would like to sincerely thank all those who participated in the process. Summaries of each report and their recommendations are hereby shared publicly.

EPA Strategic Review Report: Executive Summary (ERM)

Enhancing the Alignment of the Equator Principles with the UN Guiding Principles on Business and Human Rights: A Public Summary of Shift’s Advice to the EPA

The Association continues to actively consider the findings and recommendations of both reports, and may specify which recommendations were taken up either in EP4 or through other EPA initiatives. Where relevant, we will identify which recommendations were not considered appropriate or de-prioritised.

Stakeholder feedback

Comments on these reports are welcome from any stakeholder. Any interested or organization or individual is invited to submit feedback via the online web form. All subscribers to the EP4 mailing list will receive notice when the draft EP4 text is released.

UPDATE: Review of the Equator Principles – Phase IV 

Progress continues towards the development of an updated Equator Principles ‘EP4’ text. We are now finalising Phase III ‘Agreement with the EP Association membership and initial drafting of the EP4 targeted update’ and transitioning into Phase IV ‘Second round of stakeholder consultation’.

This external stakeholder consultation phase will be somewhat delayed as compared to previously communicated timeframes whilst we complete internal consultation and approval processes, and undertake a legal review of the changes proposed. Norton Rose Fulbright have been contracted to complete a detailed review of the draft text to ensure that there are no legal issues with the draft text before it is released into the public domain.

It is anticipated that the consultation process will now begin in May once the draft text has been approved for public release by the Association members.

An independent third party, BSR, has now been engaged to conduct the external engagement and will facilitate a series of regional webinars and/or face to face sessions where stakeholders can provide specific feedback on the detail of the proposed changes. In addition, an online form on the Equator Principles website will again be made available for anyone wishing to provide feedback. The text will be made available on the website so that all interested parties can provide informed comment.

As has been previously outlined, this will be a targeted update primarily focusing on the following key areas: Social impact and human rights, Climate change, Designated Countries and Applicable Standards and Scope of applicability of the EPs.  The EPA has previously noted that this targeted update will focus primarily on the areas outlined above and may not address all potential areas for change. Feedback beyond the scope of EP4 will be noted for consideration as part of subsequent updates.

Following the completion of the external consultation process, the Association will take stakeholders’ views and expectations into consideration to see where these could be incorporated into the EPs or other mechanisms, as appropriate. Following a final legal review and approval by the EPA, the final EP4 text is due to be released in mid-late 2019.

At any time, any interested stakeholder may submit feedback and sign up to be alerted when any EP review updates, including the draft text, are posted via: https://equator-principles.com/ep4/.

2018年3月16日

赤道原则协会(以下简称“协会”)正在针对赤道原则进入第四阶段(EP4)开展专项评估(详见2017年公告)。自2017年年会(AGM)后,协会根据上述公告开展了内部讨论,确定了EP4评估的主要专业领域:

  1. 社会影响和人权
  2. 气候变化
  3. 赤道原则指定国家和应用标准
  4. 赤道原则的应用范围

我们对评估设置了具体活动时间节点、内外部相关方参与和公众参与过程.整体评估预计在18个月内完成。但是,具体计划有可能在评估过程中调整或延长。

第一阶段 2018年1-3月 设立评估组织机构,制定评估过程;
第二阶段 2018年3-9月 协会各专业工作组(Working Groups)内部讨论上述主要议题和专业领域,进行初步的相关方协商;
第三阶段 2018年9- 2019年1月 协会会员机构对评估意见达成一致,并起草针对EP4的赤道原则内容调整;
第四阶段 2019年2-5月 第二轮相关方协商启动。随后赤道原则协会将提供一个更加具体的时间表;
第五阶段 2019年5-8月 完成针对EP4的赤道原则内容调整,并启动赤道原则第四阶段。

作为外部相关方参与过程的一部分,我们将收集对协会整体战略方向和EP4进程的意见和建议。欢迎对此感兴趣的任何相关方在评估期间提出。请在本页下方订阅接收评估进展的消息推送。

请注意:协会感谢相关方提供宝贵意见,并将综合考虑所有利益相关方的反馈意见。但是人手有限,我们没有足够的能力对给每个建议单独回复。望周知。

评估进展:2018年6月

EP4评估按计划执行第二阶段。两个方面工作的进展如下:

相关方协商

一个独立第三方已经开始对协会整体战略和针对EP4的赤道原则调整进行评估。评估方式包括:系列访谈、在线问卷调查和填写反馈表(本页下方)。相关方包括:决策方、学术界、金融机构、客户、行业协会和社团组织。第三方评估预计在2018年7月结束。

协会各专业工作组:

在进行相关方协商的同时,协会各专业工作组将对评估针对的四大专业领域(社会影响和人权、气候变化、赤道原则指定国家和应用标准、和赤道原则的应用范围)涉及的现有赤道原则章节进行回顾。一旦各专业工作组对相关赤道原则章节的文字修订提出建议,所有建议都将经协会执委会初步审议,然后发给所有会员机构。所有专业工作组都由会员机构自发组织和参与。每个会员机构都有权选择参加专业工作组,参与今年10月份年会上的评估起草工作。

我们一如既往的欢迎对此次评估感兴趣的任何相关方订阅我们的新闻推送,并通过网上反馈表提出意见和建议。赤道原则内容的修改建议出台后,第二轮相关方协商预计在2019年初启动(2019年2-5月)。

EP4进展:2018年10月8日

目前,EP4依据原定计划进展顺利。关于EP4的相关主题建议(草案)已经准备完毕,供协会会员在即将举办的年会上讨论。 

第一阶段相关方协商已经结束。依据之前协会在官网上发布的进程计划,EP4第二阶段在2018年3-9月进行,主要任务是各工作组和协会会员对相关主题和专业领域的调整进行内部讨论,外部相关方的协商也在此阶段启动。协会已经收到了不少相关方的反馈,在此致谢。2018年5月,独立的第三方机构,环境资源管理公司(ERM),对赤道原则的整体战略和EP4进行了评估。ERM也主导了外部相关方咨询的过程,包括采访、网上问卷调查、及通过协会网站收集不同相关方的反馈,包括决策方、学术界、金融机构、客户、行业协会和社团组织。

充分考虑到不同相关方的观点和期望值后,由协会会员组成的几个工作组对相关赤道原则的主题提出了内容调整的建议。修改的EP4草案主要针对以下专业领域:

  • 社会风险(社会影响和人权)
  • 气候变化
  • 赤道原则指定国家和应用标准
  • 赤道原则的应用范围

协会关于EP4的修订工作现已进入第三阶段,详细的工作组建议已经通过协会各地区小组分享给会员。这些建议将在2018年10月的年会上被详细讨论。年会结束后,协会将发布讨论进展。

按原计划,第二轮公众和相关方协商将在2019年初进行(预计在2019年2-5月),这轮协商将在赤道原则的修改建议草案基础上进行(注释1)。

欢迎任何感兴趣的机构或个人订阅新闻快讯,,并通过官网上的表格提供反馈意见。当赤道原则内容修改草案文本公开征询意见时,我们将通知所有邮件列表的订阅者。

注释1:基于2017年协会年会的讨论,同时也是作为EP4进程的一部分,协会讨论了是否制定关于EP在指定国家应用的说明。随着各工作组讨论的展开,很明显,目前的工作重点应该放在整体进展过程,快速做出一个关于赤道原则在指定国家应用的说明将干扰全面制定EP4草案的进程。赤道原则中所有和指定国家内容相关的调整,都将反映在EP4整体进展中,不会单独做临时说明。

EP4进展:2018年赤道协会年会会议成果

赤道原则协会2018年年会于10月16-18日在美国华盛顿召开,50多家赤道原则金融机构的代表出席了会议。

赤道原则15周年

协会执委会主席在开幕式上指出,赤道原则于15年前开始实施,已经对项目融资市场产生了深刻的影响。主席还认识到,有必要对赤道原则进行更新,以跟上不断变化的可持续金融格局。协会感谢国际金融公司在赤道原则推出初期对协会的支持,以及在赤道原则实施过程中的积极沟通,尤其是承办这次具有里程碑意义的活动。

EP4主要专业领域:

年会的主要议题是评估赤道原则的修订建议,尤其是有针对性的四个赤道原则专业领域:社会影响和人权、气候变化、赤道原则指定国家和应用标准、以及赤道原则的应用范围。附加议题“生物多样性数据共享”也纳入了讨论日程。

在两天半的会期内,协会四个主要工作组汇报了各自对赤道原则修订的详细建议,供会员反馈和讨论。年会所有环节都围绕小组汇报、会员深度讨论、问答、以及投票环节进行。会员对修订的意见逐渐集中,讨论取得了显著成果。会员对赤道原则四个专业领域的内容调整都基本达成一致。

尽管EP4主要是项目相关领域,协会也会从战略角度出发,成立工作组,研究其他金融产品在决策中的环境和社会风险。

接下来几周,根据年会上的反馈,以及对法律层面和可行性的考量,各工作组将继续研究EP4草案的内容和文字修订。

根据原定计划,协会计划在2019年一季度开始第二轮外部相关方咨询,包括召开地区会议和专题网络会议。这样做的目的是为了从客户群、受项目影响的社区、和其他相关方那里得到关于EP4草稿的意见。

委托报告:

作为系列会议的参考资料,协会委托ERM出具了一份协会的战略评估报告,社会风险工作组也聘用Shift公司发布了社会风险评估报告。每份报告的概要和建议将在未来几周发布。

需要考虑的其他专业领域:

年会上,协会也意识到,还有一些没有纳入EP4调整计划的重要专业领域,其中包括机会和改进的需求:透明度、信息披露和报告制度;执行上的一致性;资格、问责制、担保;以及申诉管理。协会执委会目前正在考虑围绕这些主题以及如何推进这些工作投入额外的力量。

相关方对EP4进程的参与:

10月16日(星期二),协会几个会员单位参与了由BankTrack在美国地球之友办公室组织的活动。一些社团组织的代表也参加了会议,包括The Women’s Earth and Climate Action Network (WECAN), Honor The Earth, Rainforest Action Network, Market Forces, Sierra Club, 和绿色和平组织(美国)。协会对BankTrack启动这个很有价值会议的表示赞许。

一如既往的欢迎对EP4感兴趣的任何相关方机构和个人订阅消息推送,通过网上反馈表提出意见和建议。当赤道原则内容修改草案文本的咨询公布时,我们将通知所有邮件列表的订阅者。

EP4进展:2018年12月21日

赤道原则协会2018年年会于10月16-18日在华盛顿举行。协会内部就EP4草稿进行了内部讨论。会议成果已经在协会官网发布。

委托报告:

在年会上,协会发布了两个委托报告:ERM公司的战略评估和Shift公司的社会风险工作组指南。两个公司都经过招标流程,在执委会的监督和认可下完成各自报告。

在两个报告的撰写过程中,通过采访、问卷调查等渠道,协会收到50多条反馈意见。执委会对所有的参与者表示衷心的感谢。现将两个报告的概要和提出的建议公开发布:

战略评估报告:执行概要(ERM)

加强赤道原则与联合国商业和人权指导原则的一致性:Shift对赤道原则协会的建议概要

协会将继续积极考虑两个报告的结果和建议,明确哪些具体建议有可能在EP4中采纳,或通过协会其他动议采纳。我们也会根据情况确定哪些建议不予采纳或不列为优先考虑。

相关方反馈:

欢迎任何相关方对上述两个报告发表评论。欢迎对EP4感兴趣的任何相关方机构和个人通过官网上反馈表提出意见和建议。当EP4草案内容发布时,我们将通知所有订阅者。

EP4进展:评估赤道原则 – EP4

调整赤道原则“EP4”的文字工作还在推进中。目前协会已经完成EP3,处在向EP4第二轮相关方协商的过渡期。

完成内部协商、审批流程、以及对建议的内容调整进行法律评估后,预计第二轮外部相关方协商过程较原计划有所延迟。Norton Rose Fulbright已受聘开展对EP4内容的详细评估,以确保EP4在公开发布之前文字草稿不涉及法律问题。

在协会会员批准通过EP4草案,并公开发布该草案后,预计第二轮外部相关方协商将于5月份开始。

另一个独立第三方,BSR公司,已经受聘组织外部相关方参与并将协调系列区域性网络会议或面对面会议,在这些会议上,相关方可以对赤道原则内容调整细节提供具体的反馈。另外,任何人都可以通过赤道原则官网上反馈表提出意见和建议。EP4内容草案将在官网上发布,以便所有感兴趣的各方都能够提供评论。

再次重申,此次赤道原则的修订主要定向针对四个方面:社会影响和人权、气候变化、赤道原则指定国家和应用标准、以及赤道原则的应用范围。此前,协会指出,这一有针对性的修订将主要集中在上述领域,可能不会涉及所有潜在需要调整的领域。针对以上四方面以外的建议,协会将在未来修订时候给予考虑。

外部相关方协商结束后,协会将根据情况把相关方的观点和期望值融入赤道原则或其他机制中。在完成最后一阶段的法律评估并经过协会会员投票通过后,EP4终稿将于2019年下半年发布。

在此过程中,欢迎任何相关方提供对EP4的反馈,并订阅消息推送。EP4阶段进展和内容草案,都会在本网上公布(https://equator-principles.com/ep4/)。