EPA Releases Guidance To Support Effective Implementation Of EP4
23 September, 2020 EP Association News
23 September 2020
The volume of guidance available is considerably more than for any other previous version of the Equator Principles, and represents a significant step forward for the EPA and its stakeholders.
The Guidance is a practical aid to EPFIs, as well as clients, consultants, and technical experts etc to enable them to best implement the requirements of the EPs. It does not set any new requirements but is a tool to ensure consistent, effective implementation of the EPs.
Guidance made available on the EPA website today includes:
- An updated Implementation Note – including modules on Scope, Climate Changes, Designated Countries and Applicable Standards and Reporting
- New Thematic Guidance Notes on Climate Change Risk Assessment, Biodiversity Data Sharing, Evaluating Projects with Affected Indigenous Peoples and Implementation of Human Rights Assessments
In addition, today the EPA has also published translations of EP4 into the most commonly used languages by EPFIs and stakeholders: French, Portuguese, Spanish, Chinese, Korean, and Japanese. More languages may be added over time if there is demand.
Primary Contact: Courtenay Smith
Telephone: +44 7764435921
Background on EP4
The fourth version of the Equator Principles (EPs) was formally at the EP Association Annual General Meeting in Singapore in November 2019. EP4 was oringially due to come into effect on 1 July 2020, but in recognition of the extenuating circumstances of the Covid-19 pandemic, the EPA extended the transition period until 1 October 2020.
The review of the EPs was first announced in October 2017 and marked the first time that the EPs had been revised outside of an IFC Performance Standard update cycle. Over the next two years, the Association undertook a process involving extensive dialogue with a wide variety of stakeholders including its own EPFIs, clients, industry bodies, NGOs, civil society and other investors. In addition, the Association engaged third parties to provide additional support and credible independence throughout the consultation phases, including ERM, Shift, Norton Rose Fulbright and BSR.
All stakeholder feedback was reviewed in detail and debated amongst members and, where appropriate, incorporated into the final EP4 language. Amendments and new commitments have been made in relation to the following topics: human rights, climate change, Indigenous Peoples and biodiversity. The scope of the EPs has also been extended to capture more Project-related transactions.
The final EP4 document and a summary of stakeholder input received during the consultation period, plus EPA’s response to those recommendations, can be found at www.equator-principles.com/ep4.
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