equator principles and ifc performance standards

The Equator Principles Association has published a consultation draft of version four of The Equator Principles Association has published a consultation draft of version four of the Equator Principles (EPs), the international baseline for the identification, assessment and management of environmental and social risks in international project finance debt markets. The Equator Principles (EPs) is a globally recognised risk management framework adopted by financial institutions for determining, assessing and managing environment and social risk in development projects. IFC’s Performance Standards are the most comprehensive and practical approach to managing environmental and social risks for private investments in emerging markets, and are considered an international benchmark. The Equator Principles; IFC Performance Standards; WBG EHS Guidelines; Continental Energy Corporation Complies with The IFC Performance Standards. Equator Principles and sustainability Within the Equator Principles and IFC Performance Standards on Social and Environmental Sustainabil-ity are initial ground rules for transparency and setting up feedback mechanisms that help address the complex questions related to sustainability. The Principles were updated in mid 2006 to reflect the recent revision of the IFC's Performance Standards, on which the Principles are based. Mon, Nov 18, 2019 - 8:43 AM. Increasingly, organisations need to align their activities with internationally-respected frameworks, such as the International Finance Corporation (IFC) Performance Standards and the Equator Principles… Tan Su Shan, group head of institutional banking group at DBS, said on Monday: "We believe the South-east Asia region will see significant infrastructure development over the … Stories of Impact; IFC Insights; ... IFC supports Bank of Jiangsu to adopt the Equator Principles. Compliance has become much more than simply meeting regulatory requirements. In the financial markets worldwide, the Performance Standards have been catalyzing the swift convergence of standards for cross-border project finance. There are currently 114 EPFIs in 37 countries that have adopted the Equator Principles. EKF adopted the Equator Principles in 2004. Equator Principles III (EP III) EP III signatories are required to follow a structured process for E&S risk management, set out in 10 Principles We have undertaken a high level review of the application of the standards underpinning the Equator Principles, i.e. 2. The Equator Principles (EPs) are a framework for assessing and managing environmental and social risks associated with project financing. A primary focus of the environmental and social management program required by the Equator Principles and Performance Standard One of the IFC Performance Standards on Environmental and Social Sustainability (IFC Performance Standards) is mitigation of identified risks, along with the implementation of performance … The UNEP Statement incorporates wide statements addressing sustainable development and environmental management; they are worded in more general terms than the Equator Principles. (and not 100,000) tonnes of CO2 equivalent annually. In developing these changes, the EPFIs actively involved clients, civil society groups and official development agencies, all of whom provided … ... With EP4, while domestic Canadian mining projects may now also be required to comply with certain IFC Performance Standards. The EPs’ threshold is much higher than the one of the IFC Performance Standards. The Equator Principles (EPs) have become the financial sector’s leading voluntary standards for identifying, assessing, and managing social and environmental risks related to Project Finance (PF) transactions 1. The principles also reflect the recent revisions to the International Finance Corporation’s (IFC) Performance Standards, upon which the Equator Principles are in part based. The Equator Principles (hereafter referred as EP), utilises the IFC performance standards as the criteria to review and categorise projects respectively. The Equator Principles is a risk management framework, adopted by financial institutions, for determining, assessing and managing environmental and social risk in project finance. Standards that define IFC clients’ responsibilities for managing their environmental and social risks. Each year internal training is provided to relevant staff on the implementation of Export Finance Australia’s Policy and Procedure for environmental and social review of transactions which include the Equator Principles and the IFC Performance Standards. Risk management framework adopted by financial institutions assessing and managing environmental and social risk in development projects. In 2003, the World Bank Group’s International Finance Corporation (IFC) began to develop the EP to promote sustainable environmental and social performance … They are based on IFC’s performance standards. Ten years after their launch, a third version of the Equator Principles, the Equator Principles III (EP III), ... EP III and (where relevant) the IFC Performance Standards… Equator Principles2 came into force on January 1st, 2014. On 18 November 2019, the Equator Principles Association published version four of the Equator Principles (EP4), updating the international baseline for the identification, assessment and management of environmental and social risks in international project finance debt markets. The EPs provide a minimum due diligence standard and monitoring protocol supporting responsible risk assessment and decision-making. the Equator Principles and OECD Common Approaches; ¢ Identify, evaluate and report on whether this Project complies with the Equator Principles (EP), OECD Common Approaches and corresponding International Finance Corporation (IFC) Social & Environmental Performance Standards and Environmental, Health and Safety (EHS) Guidelines; and You can be confident your project is in expert hand, thanks to our broad experience in IFC Performance Standards, Equator Principles and EHS guidelines. Equator Principles Financial Institutions. In essence, they are a process or checklist. The Equator Principles, launched in 2003 and now adopted by 101 financial institutions from 38 countries, were based on IFC’s Performance Standards. The Equator Principles – The Environmental and Social Project Appraisal Instrument Adopted by Most Private Financial Institutions » The IFC Environmental and Social Performance Standards » Project Categorization » Equator Principles Applied to Existing Operations » Changes in Project Financing » The Equator Principles and NGOs The Equator Principles distinguish between projects in Designated and Non-Designated Countries, where Designated Countries are high-income OECD countries with “robust environmental and social governance, legislation systems and institutional capacity designed to protect their people and the environment,” and Non-Designated Countries are typically lower-income countries that lack comparatively strong institutions and systems. By what means can the governance of the Equator Principles Association, along with the standards that apply to lenders’ disclose of their implementation of the Equator Principles, be modified so as discourage lenders from free riding, that is, taking advantage of the reputational benefits of being associated with the Equator Principles … There is a concern that the SAMBG adds further to the burgeoning pile of standards, guidelines and best practices that mining companies are required to meet, but without necessarily adding anything new. The Equator Principles Association (EPA) has published a finalised version of Equator Principles IV (EPIV) following consultation. Contact John Vercoe, Director Environment Finance, London T: + 44 (0) 207 3409 690 M: +447917 636 805 Additionally, FMO has chosen to apply the standards … The Equator Principles 4 (EP4) was published in July 2020 and formally adopted by Equator Principles Financial Institutions (EPFIs) on 1 October 2020. The EPs incorporate IFC’s Environmental and Social Performance Standards (IFC Performance Standards) and World Bank Group Environmental, Health, and Safety Guidelines. Piers is the Managing Partner for ERM China. "Worldwide, there is increasing attention to the social responsibility of businesses,” said Alexey Gonus, Chairman of … 5), land acquisition and involuntary resettlement becomes part of the assessment criteria for categorisation. • The Assessment process should address compliance with relevant country laws, regulaMons and permits; • Projects in Designated Countries should comply with relevant country laws and regulaMons commensurate to Equator Principles 2, 4, 5 and 6; • Projects located in Non-­‐Designated Countries should comply with IFC Performance Standards … Thus, the EPs fall behind the commitments made by the IFC IFC Performance Standards. IFC's Performance Standards on Environmental and Social Sustainability have become globally recognized good practice in dealing with environmental and social risk management. These are utilized globally in the private sector as benchmarks for environmental and social risk management. The IFC Performance Standards are an established and well-respected framework for ensuring sustainable development in developing countries. Principles. The Equator Principles were revised and re-issued in July 2006 (EP II) and in June 2013 ... Our environmental and social due diligence requirements are often based on international best practices such as the International Finance Corporation (IFC) Performance Standards as well as standards set by the Canadian Standards … The Equator Principles refer to the IFC Performance Standards and the World Bank Group Environmental, Health and Safety (EHS) Guidelines. The Equator Principles Association (EPA) has published a finalised version of Equator Principles IV (EPIV) following consultation. Equator Principles reporting The EP-applicable transactions having reached financial close in FY 2018 are shown in Table 1 for Project Finance. The Equator Principles are a set of ten voluntary social and environmental principles which must be met to satisfy the conditions of lending. The Equator Principles, launched in 2003 and now adopted by 101 financial institutions from 38 countries, were based on IFC’s Performance Standards. The principles provide a framework for financial institutions to manage environmental and social risk in projects. The IFC Performance Standards on Environmental and Social Sustainability are established and maintained by The International Finance Corporation ("IFC") of the World Bank Group ("WBG"). the IFC Performance Standards, based on available information … ... (IFC) Performance Standards as the benchmark for managing environmental and social risks. In essence, they are a process or checklist. The Equator Principles refer directly to the IFC Performance Standards and borrowers from an EPFI must demonstrate compliance. There are eight IFC Performance Standards (Table 1) which aim to strengthen social and environmental policy and practice and to guide project proponents and financiers. EPIV broadens the scope of the Equator ... Project" to determine whether one or more of the IFC Performance Standards can be used as guidance to address those risks, in addition to host country laws. 1. The Equator Principles The Equator Principles (EPs) is a risk management framework adopted by financial institutions for determining, assessing and managing environmental and social risk in projects.

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