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Manulife (2019)
| Adoption Date: | 11 May 2005 |
| Country of Headquarters: | Canada |
| Region of Headquarters: | North America |
| Current EPFI Reporting Year/Period: | 2019 |
| Institutional Reporting: | Link to Report |
Please read the important notes and disclaimer for further information on ‘EPFI Reporting’, compliance and publication on the Equator Principles Association 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: 20
| Equator Principles Category | A1 | B2 | C3 |
|---|---|---|---|
| Sector | |||
| Mining | |||
| Infrastructure | 3 | ||
| Oil & Gas | |||
| Power | 5 | ||
| Others | 12 | ||
| Region | |||
| Americas | 16 | ||
| Europe, Middle East & Africa | |||
| Asia Pacific | 4 | ||
| Country Designation | |||
| Designated Country 4 | 19 | ||
| Non Designated Country | 1 | ||
| Both | |||
| Independent Review | |||
| Yes | |||
| No | 20 | ||
| Totals | 20 | ||
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. See list of Designated Countries.
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 | Country(s) | Year of Financial Close |
|---|---|---|---|---|
| 1 | Ergon Peru | Power | Peru | 2019 |
| 2 | Parris Island | Power | United States | 2019 |
| 3 | Kadena Air Base | Power | United States | 2019 |
| 4 | Norfolk Naval Station | Power | United States | 2019 |
| 5 | Corner Brook Health Partnership | Infrastructure | Canada | 2019 |
| 6 | Gander and Grand-Falls Windsor Care Homes | Infrastructure | Canada | 2019 |
| 7 | Macdonald Block Reconstruction Project | Infrastructure | Canada | 2019 |
| 8 | Chaudière Falls facility | Power | Canada | 2019 |
Number of projects that were not disclosed as per the disclosure conditions specified in Annex B of the Principles: 12
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
Environmental and social risk review related to the Equator Principles is incorporated into our regular transaction review and approval process. As part of the due diligence for each project finance transaction, we require an independent third party advisor (technical independent engineer) who works on the lender’s behalf to write an Independent Engineer Report. Most reports include a specific review of the Equator Principles and having a report satisfactory to the lender is a condition precedent to closing. For those transactions in which Equator Principles is not part of the scope of the Independent Engineer’s report, we self-assess.
Further information can be found in Manulife’s 2018 Public Accountability Statement available here.