Tag Archives: Stakeholders

Completion of external consultation on EP4 draft text

September 20, 2019 EP Association News, EP In The Media

London, 20 September 2019

The recent external stakeholder consultation on the draft text of EP4 was conducted on behalf of the EPA by BSR. They have now completed the consultation process and their recommendations are with the Association for consideration as we look to finalise the text of EP4.

The draft text of EP4 was released on 24 June 2019 and stakeholder feedback closed on 23 August 2019 (deadline extended following stakeholder feedback).

During that time, BSR held 6 face-to-face meetings and 4 webinars with industry and non-industry stakeholders to solicit feedback on the detail of the draft text. Further feedback was also received via email or through the EP website. In summary:

  • 151 people across 90 organisations attended an event
  • 63 detailed written submissions representing the views of 251 organisations were received (some submissions were co-signed by multiple parties).

The EPA thanks all of those that took time to submit written feedback and/or attend an event. Your input is appreciated as we seek to update the text of EP4 before a final vote by members later this year. A report of the findings of the consultation process will be published once the EPA has agreed how to respond to the recommendations.

It remains the intention of the EPA to launch EP4 in Q4 2019. We will keep stakeholders updated with progress as we get closer to the launch.

Op Ed: The value of maintaining Equator Principles as a risk management framework

August 12, 2019 EP Association News, EP In The Media

London, 12 August 2019

A review of the fourth version of the Equator Principles (EP4) is currently ongoing: equator-principles.com/ep4.  The deadline for comment on the draft of EP4 has been extended to 23 August.

We greatly appreciate the level of engagement with a diverse range of stakeholders which has resulted in both positive feedback and constructive criticism. All comments provided will be duly considered and discussed while finalising the EP4 text. 

As part of this process, several stakeholders have questioned the ambition level of the EP4 update, and have suggested the EPs shift from a risk framework to a policy platform.

We understand the rationale for these suggestions — indeed this was discussed extensively at the 2018 Annual General Meeting of EPFIs. We concluded that the EPs add the most value in remaining true to our original design as a risk management framework for determining, assessing and managing environmental and social risk in projects.

The EPA includes nearly 100 commercial banks, development banks, and export credit agencies, who have varying geographical footprints, sizes and mandates. All are subject to their own policies as well as the laws and regulations in the countries in which they operate. It is up to each EPFI to set the ambition of their own policies and risk appetite. Each EPFI is also able to participate in various policy-setting initiatives and associations external to the Equator Principles.

The strength of the EPs and their market positioning is in setting a minimum common framework to help financial institutions come together to assess and manage environmental and social risks in project-related financings. Keeping in mind EPA’s commitment to adhere to a regular and periodic update cycle of the Principles, we will continue to evaluate this focus in future updates.

 The Steering Committee and EP4 working group leads of the Equator Principles Association 

EP4 draft shared, stakeholder consultation begins

June 24, 2019 EP Association News, EP In The Media

London, 24 June 2019

Following extensive internal review and consultation, as well as input from the initial round of public consultation, the draft text of Equator Principles 4 (EP4) is hereby released for consultation.

It is intended that this draft text be used as the basis for a formal round of public consultation, led on behalf of the EP Association by BSR.

The public consultation period is expected to run from now until mid-August.

The EPA is committed and open to all stakeholder views and would like to encourage all interested parties via the ‘SUBMIT FEEDBACK’ button on https://equator-principles.com/ep4/, where you will also find more information about the EP4 process.

Following the end of the consultation period, the EPA will consider the findings and make further changes to the proposed text, as agreed by the membership, before holding a final vote on the revised Principles.

DRAFT FOR CONSULTATION Equator Principles version 4 – June 2019

Summary of changes in draft of EP4 for consultation