Tag Archives: Adoption



Bank of Huzhou Adopts the Equator Principles

July 24, 2019 Adoption News

Huzhou, China, July 24th, 2019 

Today Bank of Huzhou has become a signatory of the Equator Principles.

Established in 1998, Bank of Huzhou is a local joint-stock commercial bank based in Zhejiang Province, China. Bank of Huzhou is an active green bank in China and is committed to implementing international best practices. In 2017, Bank of Huzhou was among the first group of Chinese banks to implement TCFD recommendations. It is also a member of the UNEP FI.

To date, 97 international financial institutions in 37 countries are signatories of the Equator Principles.

Read Bank of Huzhou’s announcement in Chinese

NN Investment Partners adopts the Equator Principles

April 2, 2019 Adoption News

The Hague, 02 April 2019

Today NN Investment Partners (NN IP) has become a signatory of the Equator Principles.

While the EPs have already played an important role in NN IP’s investment process in the past, their formal adoption also adds a reporting obligation. No funding will be granted to infrastructure and project finance investments that do not comply with the EPs.

Valentijn van Nieuwenhuijzen, CIO at NN Investment Partners: “We are very proud to adopt the Equator Principles, which are a logical addition to our Responsible Investing framework. We firmly believe that integrating these elements into our analysis and decision-making process can contribute to enhancing returns and mitigating risks. Financing the right projects enables us to generate attractive returns and offers diversification benefits for more traditional fixed income portfolios while working towards a more sustainable future. Think of low carbon mass transit, flood protection infrastructure or building schools.”

To date, 96 international financial institutions in 37 countries are signatories of the Equator Principles.

Read NN IP’s full Press Release in English

Read NN IP’s Press Release in Dutch

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Nippon Life Insurance Company Adopts the Equator Principles

April 1, 2019 Adoption News

Tokyo, April 1, 2019

Today Nippon Life Insurance Company has become a signatory of the Equator Principles.

Nippon Life initiated full-scale engagement in overseas project finance in 2017. When making project finance decisions, Nippon Life recognizes that environmental and social factors can take on heightened importance given that projects that involve large-scale development could potentially have major impacts on the natural environment and local communities. With this in mind, Nippon Life has decided to adopt the Equator Principles.

To date, 95 international financial institutions in 37 countries are signatories of the Equator Principles.

Read Nippon Life Insurance Company’s Press Release in English

CTBC Bank adopts the Equator Principles

February 1, 2019 Adoption News

Taipei, 23 January 2019

CTBC Bank Co., Ltd. (CTBC Bank) has become a signatory of the Equator Principles.

CTBC Bank was established in 1966 and is amongst the largest privately-owned bank in Taiwan.

To date, 94 international financial institutions in 37 countries are signatories of the Equator Principles.

Announcement in English

Bankia, S.A. adopts the Equator Principles

July 18, 2018 Adoption News

Madrid, 18 July 2018

Bankia, S.A. assumes the Equator Principles as a tool for the management, evaluation and monitoring of risks in the responsible financing of projects.

At Bankia, in 2017 the Special Projects Admission Directorate has been created for the centralization of the admission analysis and monitoring of operations segmented as special financing, aimed to unify both credit and social and environmental criteria.

To date, 94 international financial institutions in 37 countries have signed up to the Equator Principles.

Announcement in English

Announcement in Spanish

Taipei Fubon Commercial Bank adopts the Equator Principles

December 4, 2017 Adoption News

Taipei, 4 December 2017

Taipei Fubon Commercial Bank (TFB) adopts the Equator Principles as of December 4 2017, committing itself to the globally-recognized benchmark for the financial industry to manage environmental, social and corporate governance risks. TFB is a wholly owned subsidiary of Fubon Financial Holding Company (Fubon FHC), a constituent of the Dow Jones Sustainability Indices (DJSI) Wolrd Index in 2017, for having achieved above-industry average performance in economic, environmental and social aspects.

The Equator Principles are a credit risk management framework for identifying, assessing, and managing environmental and social risks in applicable project finance transactions. The principles are adopted voluntarily by financial institutions with the aim to reduce the impact on the environment and society as a result of the financed projects. At present, there are 92 banks, including TFB, joining the Equator Principles Association. The Principles are based on the International Finance Corporation’s (IFC) Performance Standards on Environmental and Social Sustainability, and on the World Bank Group’s Environmental, Health and Safety Guidelines.

“As a leading finance institution in Taiwan and as a 100% subsidiary of Fubon FHC, we are aware of our ESG (Environment, social and Corporate Governance) responsibility from which we draw consequences for sustained actions”, said Eric Chen chairman of TFB. In the year 2015, TFB introduced sustainability guidelines demanding consideration of ESG impacts for each transaction it finances.

“We set the sustainability guidelines to make our stakeholders aware of the sustainability issues and encourage them to jointly support the sustainability of our world. Adopting the Equator Principles is one more logical step in our commitment in ESG”, said Eric. Compliance with the Equator Principles shall not be a challenge for TFB. TFB has already set its own sustainability guidelines and some parts are even more stringent as it does not limit these guidelines to project financing.

About Taipei Fubon Bank

TFB is a commercial bank offering its customers a wide range of products and services including deposits, loans, trust, investments, and consulting services. TFB is a wholly owned subsidiary of Fubon FHC, the second largest financial holding company in Taiwan and a constituent of the DJSI Emerging Markets in 2016 and 2017 for two consecutive years. TFB was formed through the merger of the Taipei Bank and the Fubon Bank, making it one of the biggest privately owned banks in Taiwan. TFB owns 127 branches in Taiwan, 5 overseas branches, and 1 wholly owned subsidiary, the Fubon Bank (China). As of Dec. 31 2016, TFB’s consolidated assets stood at NTD2, 414 billion, and TFB employs more than 6,500 people. TFB has “A-/A-2” long-term and short-term “A2/P-a” credit ratings from Moody’s with a Stable outlook. TFB won awards for its professional achievements and excellent operational performances by domestic and foreign media. TFB has been awarded institutional banking business awards by a number of International professional organizations, such as Asiamoney, the Asset, and FCI; retail banking business awards of digital finance, private banking and wealth management business by professional domestic and foreign institutions, such as Euromoney, Global Finance, International Finance Magazine, and CommonWealth Magazine, etc. For more information on TFB and FHC, please visit the following websites: https://www.fubon.com/bank/sitemap/sitemap_bank.htm, and https://www.fubon.com/financialholdings/en/home/index.html.

Announcement in English

The Swedish Export Credit Corporation (SEK) adopts the Equator Principles

July 10, 2017 Adoption News

Stockholm, 21 June 2017

The Swedish Export Credit Corporation (SEK) announces its adoption of the Equator Principles, a globally recognised benchmark for determining, assessing and managing environmental and social risk in bank financed projects. To date, 90 international financial institutions in 37 countries have signed up to the Equator Principles. As an export credit institution, SEK already applies sustainability risk assessments in accordance with the OECD frameworks and other relevant international frameworks for projects and export credits.

“The Equator Principles will add a tool in our environmental and social due diligence for projects and export credits that we finance. This will increase the harmonisation between us and the banks and financial institutions that we cooperate with”, says SEK Head of Sustainability Johan Henningsson.

SEK adopts the Equator Principles on June 21st 2017, and in the first year, in accordance with the Equator Principles, will adjust its activities according to the framework.

“We will also be able to take more active part in the discussions about the development of environmental and social assessments within the banking community”, says SEK Head of Sustainability Johan Henningsson.

Mikael Damberg, Minister for Enterprise and Innovation, representing SEK’s owner, says:

“SEK has an important role to play in facilitating Swedish company exports. Therefore, I welcome the fact that SEK now adopts the Equator Principles in line with the owner’s recommendation. With this, SEK gets a new tool to ensure that there lending meets international requirements. State owned enterprises should set good standards, not least in sustainable business.”

About the Equator Principles

The Equator Principles is a risk management framework, adopted by financial institutions, for determining, assessing and managing environmental and social risk in projects. It was developed in 2003 with the objective of ensuring that projects are developed in a socially responsible manner and reflect sound environmental management practices. The third edition of the Equator Principles which went into effect in 2013 extends its application from project finance and advisory services to project-related corporate loans and bridge loans.

About SEK

The Swedish Export Credit Cooperation (SEK) provides financing for Swedish exports. SEK lends directly to Swedish exporters and helps Swedish exporters to win export business by offering financing to their customers. SEK has a strong international network and extensive experience of international financing. The officially supported export credits system means buyers of Swedish exports can see the total cost of their investment. Moreover, export credit financing can offer buyers extended credit periods. SEK is a long-term partner, wholly owned by the Swedish government and has a mission to ensure access to financial solutions for the Swedish export industry on commercial and sustainable terms. In SEK’s environmental and social due diligence, SEK complies with international standards. In 2016, SEK lent a total of Skr 54.8 billion.

Announcement in Swedish

Announcement in English

Japan’s Norinchukin Bank adopts the Equator Principles

May 1, 2017 Adoption News

Tokyo, 01 May 2017

The Norinchukin Bank, one of Japan’s largest financial institution serving agricultural, fishery and forestry cooperatives, announced its adoption of the Equator Principles, a risk management framework, adopted by financial institutions, for determining, assessing and managing environmental and social risk in projects. The Norinchukin Bank becomes the 90th member of the Equator Principles Association.

Announcement in Japanese

Bank of Jiangsu adopts the Equator Principles

January 20, 2017 Adoption News

Nanjing, 20 January 2017

Bank of Jiangsu has become a signatory of the Equator Principles (EPs), a risk management framework, adopted by financial institutions, for determining, assessing and managing environmental and social risks in projects. It becomes China’s first city commercial bank to adopt EPs.

Bank of Jiangsu, a modern joint-stock commercial bank, was founded by merging and reorganizing the ten commercial banks in Jiangsu province including city banks of Wuxi, Suzhou and Nantong, which created a new model of local corporate banking reform. Formally entering service on January 24, 2007, it is the only local provincial corporate bank in Jiangsu.

Bank of Jiangsu, adhering to the mission of “providing high-quality financial service for customers” and guided by the enterprise culture of “Integration, innovation, pragmatism and growth”, always sticks to the development direction of uniqueness, intelligence, internationalization and integration and devotes itself to the construction of a characteristic and first-rate commercial bank with core competition advantage. It has now developed into a modern joint-stock bank boasting strong comprehensive strength and market competitiveness. As of the end of June 2016, it has possessed total assets of 1,563 billion RMB, total deposits of 914.4 billion RMB, and has provided loans of 635.3 billion RMB in total. It has 534 business office in total and 14,000 employees. It also established Suyin Financial Leasing Company and Danyang Baode Rural Bank. On August 2, 2016, its Initial public offering of A shares was successfully listed on the Shanghai Stock Exchange (stock code: 600919).

The development of Bank of Jiangsu has been widely recognized by all sectors of society. It has been presented the honorary titles of “Outstanding Enterprise in Jiangsu Province” and “The National Banking Financial Institutions Small and Micro-Enterprise Financial Services Advanced Units” by Jiangsu Provincial Party Committee and Jiangsu Provincial Government, and has been rated as “The Most Competitive Small and Micro Banks” by Financial Times. It ranked the 126th among the top 1000 world banks listed by the Banker (a British professional magazine) in 2016. As one of the fastest growing banks in China, it was named as “The Best City Commercial Bank in China” by Global Finance (U.S.).

The adoption of EP demonstrates that Bank of Jiangsu is dedicated to committing to green finance and sustaining energy management industry. It will also contribute to promoting a more eco-friendly civilization, social awareness enhancement and the completion of environmental and social risk management system. From now on, Bank of Jiangsu will regularly submit EP implementation reports as required and publish relevant information through its website.

Announcement in Chinese

Korea Development Bank: The First Korean Bank to Adopt the Equator Principles

January 2, 2017 Adoption News

Seoul, 2 January 2017

Korea Development Bank (KDB) announced its adoption of the Equator Principles, a globally recognized benchmark for determining, assessing and managing environmental and social risk in bank financed projects. As a first mover in the Korean finance industry to uphold environmental and social safeguards in project financing, KDB sets a standard for domestic institutions in promoting sustainable development and corporate responsibility.

 KDB is the first bank headquartered in Korea to adopt the Equator Principles, joining a group of 86 financial institutions worldwide representing over 70 percent of international project finance debt in emerging markets. KDB’s adoption of the Equator Principles reaffirms its commitment towards sustainable finance and demonstrates a substantial progress in integrating international best practices into its fast-growing project financing business.

 The Equator Principles are a voluntary set of standards that were developed by leading financial institutions in 2003, under the objective of ensuring that projects are developed in a socially responsible manner and reflect sound environmental management practices. The third edition of the Equator Principles which went into effect in 2013 extends its application from project finance and advisory services to project-related corporate loans and bridge loans.

Over the course of the year, KDB will refine and test its internal policies and procedures to ensure compliance with the Equator Principles. Such efforts are expected to strengthen the institutional risk management capacity and bring KDB closer to its financial partners that have already endorsed the Equator Principles.

About KDB

KDB is a wholly state-owned bank that was founded with the purpose of supplying and managing industrial capital to expedite economic development in the Republic of Korea. As the nation’s leading financial institution, KDB has fostered growth and heightened competitiveness of Korea’s strategic industries by meeting their changing financial needs. KDB covers a variety of financing activities, including investment and corporate banking for promotion of industrial activities and expansion of social infrastructure.

Announcement in Korean