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Who Benefits: Financial InstitutionsEquator Principles Adopted in June 2003 by ten international commercial banks, the Equator Principles are a voluntary set of guidelines for managing environmental and social issues in project finance lending - initially applying to investments with capital costs above US$ 50 million. Based on IFC's environmental and social standards, the Principles were developed with IFC's advice and guidance. As of June 2006, 41 banks had adopted the Principles, and it is estimated that they now cover approximately 80 percent of global project lending. On July 6, 2006, a revised version of the Equator Principles was adopted, which reflected the recent revisions to IFC's own Performance Standards on Social and Environmental Sustainability. The new Equator Principles apply to all countries and sectors, and to all project financings with capital costs above US$ 10 million. Additional details are available on the official Equator Principles website. Training for Equator Banks Four firms have been tasked to deliver external training on IFC's new Performance Standards on Social and Environmental Sustainability. The firms will address the training needs of Equator Banks as a first priority, and thereafter cover the training needs of other stakeholders. Read more...
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