Reporting – UK Export Finance (to 31 March 2019)

Adoption Date:31 March 2016
Country of Headquarters:UK
Region of Headquarters:Europe
Institutional Reporting Hyperlink:https://www.gov.uk/government/publications/ukefs-implementation-of-the-equator-principles-1st-november-2017-31st-october-2018
Current EPFI Reporting Year/Period:To 31 March 2019
EPFI Reporting in Compliance:Yes

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 above.

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: 1

Totals100
Totals100
Mining
Infrastructure
Oil & Gas1
Power
Others
Region
Americas
Europe, Middle East & Africa1
Asia Pacific
Country Designation
Designated1
Non-Designated1
Independent Review
Yes1
No
SectorCategory ACategory BCategory C

1Designated 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. For the list of Designated Countries, go to: https://www.equator-principles.com/index.php/ep3/designated-countries

PROJECT NAME REPORTING FOR PROJECT FINANCE TRANSACTIONS

No.Project NameSector Host Country Name/ Project LocationYear of Financial Close
1Duqm RefineryOil & GasOman2018

PROJECT-RELATED CORPORATE LOANS

Total number that reached financial close in the reporting period: 2

Totals200
Totals200
SectorCategory ACategory BCategory C
Mining
Infrastructure
Oil & Gas2
Power
Others
Region
Americas1
Europe, Middle East & Africa1
Asia Pacific
Country Designation
Designated1
Non-Designated2
Independent Review
Yes1
No1*

1Designated 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. For the list of Designated Countries, go to: https://www.equator-principles.com/index.php/ep3/designated-countries

The PRCL reported herein represents the third in a series of PRCLs related to a project which has previously undergone independent review. The independent review for the previous PRCL was therefore relevant and used as a basis for the updated E&S review related to this PRCL.

IMPLEMENTATION OF THE EQUATOR PRINCIPLES

UKEF’s ESHR Policy sets out how UKEF implements the Equator Principles alongside the OECD Common Approaches during pre-issue stages (scoping, screening, and due diligence review), which satisfies Equator Principles 1-8, and for post-issue monitoring, to satisfy Equator Principle 9. UKEF published a Note of Human Rights and Social Risks and Impacts[1]in support of its ESHR Policy in March 2017. Further information can also be found in UKEF’s Annual Report and Accounts 2018-19 (link).

UKEF’s Environmental & Social Risk Management Team (E&S Team) is responsible for carrying out the implementation of UKEF’s ESHR Policy. The E&S Team’s staff are professionally qualified and directly undertake and/or manage the necessary ESHR due diligence and liaise with project sponsors and/or exporters and UKEF decision-makers. The E&S Team has 8 full time equivalent staff and reports directly to the Head of Business Group and the Chief Executive.The E&S Team continues to provide internal training to UKEF’s Business Group (including underwriters), and wider staff, to raise awareness of the requirements of the OECD Common Approaches, the EPs, and general ESHR risk management.

[1] https://www.gov.uk/government/uploads/system/uploads/attachment_data/file/604438/UKEF-statement-on-how-it-addresses-human-rights-march-2017.pdf