Updated Equator Principles released for public comment
The Equator Principles (EP) Association has released the draft of the updated Equator Principles (EP III) for stakeholder consultation and public comment.
The EP is a risk framework for identifying, assessing, and managing environmental and social risks in Project Finance transactions and has been adopted by 77 financial institutions worldwide.
Key themes and areas of development proposed in the EP III draft include:
- An extension in the scope of the EP to Project-Related Corporate Loans and Bridge Loans.
- Changes reflecting the recent update of the International Finance Corporation (IFC) Performance Standards.
- New requirements related to managing impacts on climate.
- Greater emphasis on human rights considerations in due diligence and an acknowledgment of the UN 'Protect, Respect and Remedy' Framework for Business and Human Rights and Guiding Principles on Business and Human Rights.
- A strengthening of reporting and transparency requirements.
Leonie Schreve, Director, Head of Environmental and Social Risk at ING and Chair of the EP Association Steering Committee said 'I am proud that we are releasing the proposed draft of the EP III today. We were able to reflect on the implementation experience of our diverse range of EP Association members and consider stakeholder input to date.'
The release of the EP III draft follows extensive and ongoing consultation with EP Association members, and proposed changes aim to reflect the diverse range of member policies, practices, cultural settings, client relationships, risk appetites, and legal boundaries.
The EP III draft also aims to reflect stakeholder input received to date, key issues highlighted in the recent EP Association Strategic Review and the recent changes to the IFC Performance Standards, which underpin the EP.
The formal stakeholder consultation and public comment period will continue for a minimum of 60 days giving all interested parties and stakeholders (including EP Association members, other financial institutions, clients, industry bodies and associations, non-governmental organisations, consultants, law firms and regulatory bodies) an opportunity to review the EP III draft and provide comments.
The EP III draft, a frequently asked questions document and details on the stakeholder engagement and public comment process can be found on the EP website at http://www.equator-principles.com/index.php/EP3.
Related news
-
Identifying Contaminated Soil, Water and Air to Protect the Public as well as Real Estate Investors and Developers in Puerto Rico
The U.S. Environmental Protection Agency (EPA) recently proposed a cleanup plan to address contaminated soil at the Pesticide Warehouse I Superfund Site in Arecibo, Puerto Rico. The plan includes removing and disposing of contaminated soil from the site and long-term monitoring of the groundwater to protect people’s health. The agency also plans to implement institutional controls to restrict the future use of the site to non-residential uses. In this same municipality, 16 acres used by a former battery...
-
Green batteries for Europe? We’re leading the way, says Dr Andy Bush
The EU has published plans to update its batteries regulation. Commenting , Dr Andy Bush, Managing Director of the International Lead Association said:“These proposals are a welcome step towards Europe’s zero carbon objectives. A range of battery technologies will be required to achieve these objectives. We agree that all batteries placed on the EU market should be more sustainable, high-performing and safe through their entire life cycle.“We therefore support the focus of the new proposal on...
-
Digital Healthcare: This Software Marketplace Lets Hospitals Test-Drive AI-Powered Apps
The last time you bought a new car, you probably didn’t just write a check. You took it for a spin to see how it handles. GE Healthcare will soon offer a similar service to hospitals interested in buying its latest software powered by artificial intelligence (AI). “This is a big deal for the healthcare industry,” says Ken Denison, vice president of digital platform and product marketing at GE Healthcare. “It’s rare to have the option to quickly find things, try them and decide to buy...
-
ComplianceXL signs a contract with the world’s largest specialized electronics manufacturer
The client is a specialized electronics manufacturer with offices in multiple plants in the US, Israel, and other places. The client is known for the design, development, production, and sales of advanced electronic systems for airborne and land applications. With over 1000 suppliers across the globe and the need for compliance to Conflict Minerals regulation arrived due to their business operations in the EU triggered them to venture out for compliance support. ComplianceXL will deploy a dedicated team of the...
-
Solaria has reached an agreement with natixis s.a. For the long term financing of 252mw
SOLARIA has reached an agreement with Natixis S.A. for the long term financing of 252MW associated to the PPA contract signed with Statkraft that was announced last December 2019.This agreement is subject to a successful completion of the due diligence review of the projects under construction and the final approval of Bank’s risk committee.The financing will be provided under the project finance modality for an amount of around 140M EUR.Enrique Díaz-Tejeiro, SOLARIA President: “To sign for a...
Customer comments
No comments were found for Updated Equator Principles released for public comment. Be the first to comment!