Equator Principles 2021 Annual General Meeting (15-18 November) – Meeting Outcomes

The Equator Principles Association held its 2021 Annual General Meeting (AGM) from 15-18 November.  The event was hosted virtually and saw participation from approximately 100 Equator Principle Financial Institutions (EPFIs), including several new members.  Some members of the EP Steering Committee were also able to attend in-person in Paris and participate in a number of sessions outside of formal proceedings.

The agenda focussed on three key areas:

Organisation and Operations.  The Association discussed the challenges and opportunities from the continued rapid increase in the size and diversity of the membership over recent years and, in particular, the growing pressures on volunteer time from EPFIs to drive the Association’s objectives forward.  The Chair and Steering Committee are pleased to note that the awareness and adoption of the Equator Principles remains strong, particularly across Asia, however, the capacity of our members to devote significant time to the Association continues to reduce. Discussions focussed on how the structure of the Association can be improved to better reflect and meet the needs of 126 global financial institutions.

Accountability and Transparency.  This remains of critical importance to members, as well as to many external stakeholders and is a key tenet of the EP Association Strategy launched in 2020.  The Association is pleased to highlight the recently updated EP website that includes a searchable database of EPFI reporting. In 2022, we aim to further enhance accountability and transparency with the production of an activity report that will highlight both the quantitative and qualitative impact of the EPs. Further, members discussed a range of proposals related to enhancing the EP’s approach to the issue of remedy under Pillar 3 of the UN Guiding Principles on Business and Human Rights. We aim to make further announcements on this in 2022.

Quality and Training.  The Association agreed to focus on continually upgrading its training and induction materials to ensure there is robust application of the EP’s and support for all members.  In 2022, we plan to host a face to face workshop in Asia reflecting the rapid adoption of members from this region.

The Association would like to thank their hosts The Boston Consulting Group for providing venue services and presentations to our members.

Amit Puri, EP Association Chair, and Global Head of Environmental and Social Risk Management, Standard Chartered:

“On behalf of the Steering Committee I am pleased to report on another successful EP AGM.  Discussions were lively and robust and our agreed deliverables for 2022 aim to balance our ambition and capacity.   I look forward to another busy year for the EP Association and continuing to position the Equator Principles as the gold standard for E&S risk management in the broader sustainability ecosystem”.

MEDIA CONTACTS:
EPA Primary Contact: Courtenay Smith
Email: secretariat@equator-principles.com
Telephone: +44 7764 435 921

Standard Chartered Primary Contact: Bart Nash
Email:  bart.nash@sc.com