Reporting – Ecobank Transnational Incorporated (2017)

Adoption Date:1-January 2012
Country of Headquarters:Togo
Region of Headquarters:Africa
Institutional Reporting Hyperlink:
Current EPFI Reporting Year/Period:2017
EPFI Reporting in Compliance:Yes

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Further information on this EPFI may be obtained through the Institutional Reporting Hyperlink above.


Total number mandated in the reporting period: 0


Total number that reached financial close in the reporting period: 0


Total number that reached financial close in the reporting period: 0


Ecobank became a signatory of the Equator Principles in 2012.

In the reporting year 2017, Ecobank did not carry out any Project Finance Advisory Service, Project Finance, Project Related Corporate Loan or Bridge Loan transactions that meet the Equator Principles scope criteria. The bank was involved in a number of transactions with environmental and social impacts over a sensitive ecosystem, but these transactions did not meet the relevant thresholds and criteria for application of the EPs. For instance, the transaction involving a telecommunication fibre optic underground cable in a biodiversity rich and sensitive ecosystem areas of the Congo Basin in Central Africa, and another transaction involving a transnational electricity power transmission lines across several countries in West Africa did not meet the EP eligibility criteria for a Project Finance and Project Related Corporate Loans, because these are regular banking transactions with the value threshold and tenor limits below the EP specifications.  Albeit, the general EP guidelines and the standards set out in other globally recognised ESG frameworks such as the IFC Performance Standards on Environmental and Social Sustainability were duly considered in carrying out the necessary ESMS assessment due diligence.

In conducting the assessment, Ecobank applies the EPs, particularly EP1 to EP6 to all projects being supported by the bank. The EPs helps to establish the importance of the client (project proponent)’s existing E&S framework and capacity in addressing the risks and impacts of the project as well as compliance with the international and local environmental and social laws and standards. It also helps to establish the basis for ensuring that the client engages with the community and other concerned stakeholders through a proactive disclosure of relevant information for the review, discussion and evaluation by the stakeholder prior to the issuance of consent. Furthermore, upon their consent, the client is also required to establish a grievance mechanism, where stakeholders and anyone that might be affected by the project activities at the construction and operation phases could lodge complains and seek redress.

Overall, the procedures for the identification and management of ESMS in Ecobank are being guided by the Ecobank Environmental and Social Risk Policy and Procedure manual (E&S Policy). The Policy was developed on the basis of our engagement with the IFC Performance Standards as well as our association with other Financial Institutions, including the African Development Bank (AfDB) on their interpretation of Environmental and Social Management as related to the Credit review. It set out the approaches for identification and assessment of environmental and social risks and impacts associated with projects supported by Ecobank. In doing so, the bank believes that the application of these procedures, by focusing on the identification and management of E&S risks, will support the bank in charting forward its corporate sustainability stewardship. it will also enhance non-discrimination, transparency, participation, accountability and governance in the project implementation framework.

Ecobank leverages the EPs and other ESG frameworks in modifying its E&S policy as well as internal E&S practices. The application of Ecobank E&S Policy is informed by the extent of the client’s awareness and capacity to identify and manage any E&S issues associated with the transactions. the assessment was also informed by the geographical location, sector specific sensitivity as well as the potential indirect value-chain E&S impacts related to the transactions.

As an EPFI, Ecobank participated in the EP Association’s Annual Meeting in Sao Paolo, Brazil in October 2017.

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