Commonwealth Bank of Australia (1 Jul 23 – 31 Dec 23)
| Signing Date | 26 May 2014 |
| Region of Headquarters: | Asia-Oceania |
| Current EPFI Reporting Year/Period: | 1 Jul 23 - 31 Dec 23 |
| 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: 6
| Equator Principles Category | A1 | B2 | C3 |
|---|---|---|---|
| Sector | |||
| Mining | |||
| Infrastructure | 1 | ||
| Oil & Gas | |||
| Power | 5 | ||
| Others | |||
| Region | |||
| Americas | 3 | ||
| Europe, Middle East & Africa | |||
| Asia Pacific | 3 | ||
| Country Designation | |||
| Designated Country 4 | 6 | ||
| Non Designated Country | |||
| Both | |||
| Independent Review | |||
| Yes | 6 | ||
| No | |||
| Totals | 6 | ||
Category A – Projects with potential significant adverse environmental and social risks and/or impacts that are diverse, irreversible or unprecedented.
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.
Category C – Projects with minimal or no adverse environmental and social risks and/or impacts.
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
Total number that reached Financial Close in the reporting period: 0
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 | Big Elm Solar Project | Power | United States | 2023 |
| 2 | Pleasant Valley Solar Project | Power | United States | 2023 |
| 3 | Angelo Solar Project | Power | United States | 2023 |
| 4 | Koorangie Battery Energy Storage System | Power | Australia | 2023 |
| 5 | Uungula Wind Farm | Power | Australia | 2023 |
Number of projects that were not disclosed as per the disclosure conditions specified in Annex B of the Principles: 1
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
Total number that reached Financial Close in the reporting period: 0
Implementation of the Equator Principles
The Commonwealth Bank of Australia became a signatory to the Equator Principles in May 2014.
The Equator Principles (EP) is a framework to assess, mitigate, manage and monitor Environmental and Social risks in applicable project-related financing. Training for ESG due diligence and implementation of the Equator Principles (EP) is undertaken by the relevant client and risk teams. CBA’s EP process is embedded in CBA systems and procedures.
Environmental and Social risk is a strategic risk managed under the CBA Group’s Risk Management Framework. Assessing potential transactions for Environmental, Social and Governance (ESG) risks is a key step in our due diligence process for all Institutional Bank loans, as well as large loans in other business units.
Our ESG risk assessment tool plays an important role in the corporate lending decision process, by assisting our front line bankers to:
• Identify and assess the E&S risks that our customers are exposed to.
• Assess the mitigating actions that our customers take to manage their E&S risks.
• Assess how lending to our customers aligns to the commitments made in our E&S Framework.
Relevant project finance transactions follow the Equator Principles process requirements. Business and
risk teams approve ESG assessments. The level of approval required is determined by the final ESG risk ratings.
https://www.commbank.com.au/about-us/opportunity-initiatives/performance-reporting.html