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Citizen act ang_equator_principles
1. CITIZEN ACT - season 2011-2012 Equator Principles CITIZEN ACT – SEASON 2011-2012
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3. _ What are Equator Principles ? WHAT ARE EQUATOR PRINCIPLES ? The Equator Principles are : “a financial industry benchmark for determining, assessing and managing social & environmental risk in project financing ” (www.equator-principles.com) Equator Principles were launched in 2003 by ten international banks, Equator Principles have now become a global standard for project finance. EPs provide a framework for the environmental and social evaluation of projects: compliance with local law in High Income OECD countries and with IFC social & environmental policies and quantitative environmental guidelines elsewhere A voluntary agreement , but “Equator has teeth”: Adopters agree that they “will not provide loans directly to projects where the borrower will not or is unable to comply with our environmental and social policies and procedures”. In August 2011, EP has been adopted by around 70 banks
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