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 Country4 19
Non Designated Country 1
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.