Tag Archives: Equator Principles Financial Institution (EPFI)

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

ICO signs up to the Equator Principles

October 26, 2016 Adoption News

Madrid, 26 October 2016

ICO’s General Board approved the institution’s decision to become a signatory to the Equator Principles at its meeting on Friday 21 October, as part of the framework of commitments in its CSR and environmental policies.
The Principles, which are voluntary but widely recognised internationally, require signatory financial institutions to guarantee that the projects to which they offer financing or advice are undertaken sustainably. A total of 83 financial institutions from 36 countries have signed up to the Principles created in 2003 by the International Finance Corporation (World Bank), including five Spanish banks and European development banks similar to ICO, such as the KfW in Germany.

ICO, a Spanish state-owned bank and state financial agency, chaired by Emma Navarro, especially values the fact that the Equator Principles ensure solid and rigorous practices in the social and environmental management of financed projects. This venture strengthens ICO’s commitment to the agreements reached at the Paris Climate Change Conference and the 2030 Sustainable Development Goals.Acceptance of the Equator Principles also represents a step forward for ICO in terms of its transparency and good corporate governance strategy.

ICO will now report on its operations, procedures and experiences annually in its Corporate Social Responsibility Report and on its corporate website, in accordance with the Principles’ guidelines.

Press Release in Spanish

Banco Votorantim Adopts The Equator Principles

June 30, 2016 Adoption News

São Paulo, 30 June 2016

Banco Votorantim has become signatory of the Equator Principles, a risk management framework, adopted by financial institutions, for determining, assessing and managing environmental and social risk in projects and is primarily intended to provide a minimum standard for due diligence to support responsible risk decision-making. The voluntary decision of Banco Votorantim supports the Social and Environmental Sustainability and Responsibility Policy (PSRSA) that guide its activities and operations. Banco Votorantim is the 5th Brazilian bank to become signatory, representing 85 institutions worldwide.

“In adopting the Equator Principles, Banco Votorantim reaffirms the commitment already demonstrated by establishing ethical, transparent and everlasting relationships that make a difference and add value where we operate, considering the economic, social, environmental and human aspects in our processes and business”, says João Roberto Gonçalves Teixeira, CEO of Banco Votorantim.

In October 2002, nine international banks convened in London, together with the International Finance Corporation, to discuss ways to assess and manage the environmental and social risks associated with investment activities. The Equator Principles were officially launched on 4 June 2003 and provided a framework for the banking industry addressing environmental and social risks in Project Finance that could be applied globally and across all industry sectors.

According to Achilles Suarez, Director of Corporate & Investment Banking, the banks’ long term relationship with the client depends on a great number of reasons, and one that is gaining power is the social and environmental issues. “The Equator Principles will enable us to meet our client’s needs further, allowing us to serve adequate solutions to the environmental impacts inherent in the financed projects This signature is consistent with the culture of Banco Votorantim to generate results with sustainability”, he says.

“Banco Votorantim already applies social and environmental risk management to the wholesale business and we understand that the Equator Principles will strengthen the management for project financing. Joining the Equator Principles allows us to manage the risks in order to guarantee the value and sustainability of our company, because we apply an internationally recognised methodology for risk management on the social and environmental impacts of Bank-financed projects”, emphasizes Andre Duarte, Director of Risks at Banco Votorantim.

About Banco Votorantim

The Institution is one of the largest banks in Brazil in total assets and relies on robust shareholder base composed of a strategic partnership between Banco do Brasil which is the country’s largest financial institution and Votorantim Group – one of Latin America’s largest private-sector conglomerates. In recent years, Banco Votorantim has grown and expanded its scope of action, aiming to increase its revenue and asset base through a diversified business portfolio internally classified as Wholesale and Retail. Among the companies controlled are BV Financeira, BV Leasing, Votorantim Asset Management and Votorantim Corretora de Títulos e Valores Mobiliários.

More Information | FSB Comunicação

Cindy Correa


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Svenska Handelsbanken AB (Publ) adopts the Equator Principles

June 23, 2016 Adoption News

Stockholm, 23 June 2016

Svenska Handelsbanken AB (publ) has adopted the Equator Principles, a global framework to promote sustainable environmental, social and human rights decision-making in financing projects.