OP Financial Group (2022)

Signing Date 16 Dec 2016
Region of Headquarters: Europe
Current EPFI Reporting Year/Period: 2022
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: 0

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-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

Commitments and principles | Responsibilities | OP Group | OP

The Equator Principles is a risk management framework, adopted by financial institutions, for determining, assessing and managing environmental and social risk in projects. OP adopted the Equator Principles (EP) in 2016. Our analysts and other relevant staff have been trained in OP’s internal EP process.

In OP Financial Group we have taken the ten principles in EP account in our workflow in seven steps

  1. The relevant business unit identifies transaction
  2. Initial project overview
  3. Project appraisal
  4. Project negotiation
  5. Decision
  6. Monitoring
  7. External reporting

OP’s specialists evaluate the borrower’s capacity to adequately identify, prevent, mitigate, and manage key environmental and social risks and impacts of the project based on documentation provided by the borrower, independent environmental and social consultants and in certain cases site visits. The initial project overview and project appraisal are carried out by dedicated ESG Experts or ESG Analysts. The EP reviewer also proposes terms and conditions related to the environmental and social issues of the transaction to for loan agreements when necessary. The EP reviewer co-operates with the rest of the deal team with those tasks for the transaction in question.

OP’s deal team presents the transaction with the EP overview to the appropriate decision board that includes senior management from relevant business units, credit management and risk management.

OP monitors the performance of its active EP transactions and in case of non-compliant performance OP will determine an appropriate course of action together with the other lenders.

OP reports annually on transactions that have reached financial close.