GLOBE-Net, 13 August 2012 - 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
Key themes and areas of development proposed in the EP III draft
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 EP Association aims to ensure that
the EP framework continues to create a level playing field across
the globe and remains the standard in the financial industry for
assessing and managing environmental and social
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
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
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.