[PDF] Financial Institutions Announce Revision of Equator Principles - Underscoring the Global Application of Environmental and Social Risk Management
The Equator Principles...have been revised in the following ways: • The Principles apply to all project financings with capital costs above USD 10 million. • The Principles now also apply to project finance advisory activities. • The revised Principles now specifically cover upgrades or expansions of existing projects where the additional environmental or social impacts are significant. • The approach in applying the Principles to countries with existing high standards for environmental and social issues has been streamlined. • Each EPFI is now required to report on the progress and performance of Equator Principles’ implementation on an annual basis. • Stronger and better social and environmental standards, including more robust public consultation standards. The financial institutions adopting the revised Equator Principles today are included in the following list: ABN Amro, Banco do Brasil, Bank of Tokyo-Mitsubishi [part of Mitsubishi UFJ], Barclays, Calyon, Citigroup, Dexia, EKF, Fortis, FMO, HSBC, HypoVereinsbank (HVB), IFC, ING, Banco Itaú, KBC, Millennium bcp, Mizuho, Royal Bank of Scotland, Sumitomo Mitsui Banking, Standard Chartered, Wells Fargo, West LB, Westpac, Banco Espirito Santo, BBVA, Credit Suisse, Nedbank, CIBC, Grupo Sanpaolo, Unibanco, Rabobank, RBC, BMO Financial]