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.

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.

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.



  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


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。