Banco Votorantim Adopts The Equator Principles
30 June, 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.
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