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Bank SinoPac (2023)
| Signing Date | 27 Feb 2020 |
| Region of Headquarters: | Asia-Oceania |
| Current EPFI Reporting Year/Period: | 2023 |
| Institutional Reporting: | Link to Report |
Please read the important notes and disclaimer for further information on ‘EPFI Reporting’, compliance and publication on the EP website.
Further information on this EPFI may be obtained through the Institutional Reporting hyperlink.
Project Finance Advisory Services
Total number mandated in the reporting period: 0
Project Finance Transactions
Total number that reached Financial Close in the reporting period: 7
| Equator Principles Category | A1 | B2 | C3 |
|---|---|---|---|
| Sector | |||
| Mining | |||
| Infrastructure | |||
| Oil & Gas | |||
| Power | 6 | 1 | |
| Others | |||
| Region | |||
| Americas | |||
| Europe, Middle East & Africa | |||
| Asia Pacific | 6 | 1 | |
| Country Designation | |||
| Designated Country 4 | |||
| Non Designated Country | 6 | 1 | |
| Both | |||
| Independent Review | |||
| Yes | 6 | ||
| No | 1 | ||
| Totals | 6 | 1 | |
1
Category A – Projects with potential significant adverse environmental and social risks and/or impacts that are diverse, irreversible or unprecedented.
2
Category B – Projects with potential limited adverse environmental and social risks and/or impacts that are few in number, generally site-specific, largely reversible and readily addressed through mitigation measures.
3
Category C – Projects with minimal or no adverse environmental and social risks and/or impacts.
4
Designated Countries are those countries deemed to have robust environmental and social governance, legislation systems and institutional capacity designed to protect their people and the natural environment.
Project-related Refinance & Project-related Acquisition For Project Finance
This information is required under EP4. EP4 applies for those transactions mandated after 1 October 2020 and that have reached Financial Close by the end of the period being reported.
Project Name Reporting For Project Finance (And Project-related Refinance & Project-related Acquisition Finance For Project Finance)
| No. | Project Name | Sector | Project Location(s) | Year of Financial Close |
|---|---|---|---|---|
| 1 | DCGE (Mituo) Solar PV-Phase 1 | Power | Taiwan, China | 2023 |
| 2 | Project Wind Power | Power | Taiwan, China | 2023 |
| 3 | Project Syuejia | Power | Taiwan, China | 2023 |
| 4 | Project WF-TAI Power | Power | Taiwan, China | 2023 |
Number of projects that were not disclosed as per the disclosure conditions specified in Annex B of the Principles: 3
Under EP4, project name reporting is required for Project Finance transactions that have reached Financial Close and encouraged for Project-Related Corporate Loans that have reached Financial Close.
Project-Related Corporate Loans
Total number that reached Financial Close in the reporting period: 0
Project-related Refinance & Project-related Acquisition For Project-related Corporate Loans
This information is required under EP4. EP4 applies for those transactions mandated after 1 October 2020 and that have reached Financial Close by the end of the period being reported.
Implementation of the Equator Principles
- Implementation of Equator Principles adoption
Bank SinoPac formally became a signatory to the Equator Principles (EPs) in February 2020. Bank SinoPac’ s “Corporate Credit Risk Management Division” established the EP implementation process as following:
- Determine applicability and risk category of the case and request EPs documents during loan application.
- Check and review environmental and social risks of EPs cases. For high-risk cases, a third-party independent unit confirms the customer’s environmental and social risk assessment and due diligence report.
- Periodically check environmental and social risks of EPs cases.
To implement the EPs, Bank SinoPac established a dedicated Environmental and Social Risk Team, serves as an internal consultant for assisting the risk assessment and review of EPs cases. The team formed functionally and composed of internal experts with a professional background in credit review practices and is responsible for the following tasks:
- Establish the environmental and social risk assessment mechanism and processes and revise the “Business Manual of Corporate Banking – Equator Principles” for alignment of implementation.
- Responsible for checking compliance with the EPs and reviewing results of environmental and social risk assessments (including continuous monitoring).
- Disclose the implementation status of cases, related data and reports on the official website of the Equator Principles Association each year, and attend annual meetings.
- Responsible for providing EPs training courses to personnel in domestic and overseas branches or subsidiaries, and the head office, and communicate with peer banks on EPs practices.
- Equator Principles Education and Training
Bank SinoPac completed 2 EPs training sessions in July 2020 for corporate banking personnel and credit review personnel and invited external consultants explained EPs evaluation standards and cases. Environmental and Social Risk Team conducts internal trainings annually to ensure that employees follow international standards when evaluating the impact of project financing on the environment and society and require clients to take suitable risk mitigation measures according to the EPs.