What is the Equator Principles Association?
The Equator Principles is a risk management framework adopted by financial institutions, for determining, assessing and managing environmental and social risk in project finance. It is primarily intended to provide a minimum standard for due diligence to support responsible risk decision-making.
Which company was behind the creation of the Equator Principles?
As a result of this meeting, Citigroup, ABN AMRO, Barclays, and West LB in collaboration with IFC, created a framework of managing environmental and social risks. The Equator Principles (EPs) were thus formulated in June 2003.
How many principles does Equator Principles have?
10 Principles
The Equator Principles framework consists of 10 Principles.
Are the Equator Principles still relevant?
There are currently 110 Equator Principles Financial Institutions (or EPFIs) in 38 countries that have officially adopted the Equator Principles according to The Equator Principles Association’s website and this number has been steadily growing since their creation in 2003.
Are Equator Principles effective?
Over the past 15 years, the Equator Principles have improved labor standards and environmental practices, and strengthened engagement with indigenous peoples and local communities.
Do Equator Principles work?
Why are Equator Principles important?
The Equator Principles (EP) have become the financial industry standard for environmental and social risk management in projects. Financial institutions adopt the EP to ensure that the projects they finance are developed in a socially responsible manner and reflect sound environmental management practices.
When were the Equator Principles adopted?
Based on sustainability standards from the International Finance Corporation (IFC) and launched in 2003, the Equator Principles have become a quasi standard for the financial industry and as of May 2012, 77 financial institutions had adopted the framework.
Are the Equator Principles effective?
The Equator Principles have changed the way major projects around the world are funded. They have become the global standard for project finance, while successfully addressing regional differences and managing cross-border complexities.
How important are the Equator Principles?
Is Australia a designated country?
The following countries are Designated Countries (as at 1 October 2021): Australia.
How much money do refugees get from Centrelink?
[22] There are no special refugee payments or special rates of payments for refugees. Most refugees are of working age. This means that the main form of assistance provided to refugees is the Department of Human Services (DHS) Newstart Allowance (commonly known as unemployment benefits).
Can a refugee buy a house in Australia?
Even though you are on a migrant Refugee Visa (subclass 200) you are eligible for a home loan. We know lenders who can approve a mortgage up to 90% of the property value for migrants living in Australia. We have expert mortgage brokers on board who specialise in non-resident loans.
Where is Cornelia Rau now?
Cornelia now lives in New South Wales. Her former lawyer Claire O’Connor told ABC news: “She’s certainly in a better place than when she got out of detention.”
Is it illegal to seek asylum in Aus?
Seeking asylum in Australia, or elsewhere, is not illegal. In fact, it is a basic human right. All people are entitled to protection of their human rights, including the right to seek asylum, regardless of how or where they arrive in Australia, or in any other country.
How much welfare do refugees get in Australia?
The Equator Principles (EP) Association is the unincorporated association of member Equator Principles Financial Institutions (EPFIs) whose object is the administration, management and development of the EPs. It was formed in July 2010 and was instituted to ensure long-term viability and ease of management of the member EPFIs.
What is Equator Principles Compliance?
Equator Principles Financial Institutions (EPFIs) formulate their own environmental and social guidelines to comply with the Equator Principles framework, which in turn confirms compliance with the underlying IFC Performance Standards and World Bank Group EHS Guidelines.
What does the Equator Principles mean for financial institutions?
Additionally, Equator Principles Financial Institutions (EPFIs) believe that the adoption of and adherence to the EP offers significant benefits to them, their borrowers and local stakeholders through their borrowers’ engagement with locally-affected communities.
How many countries have adopted the Equator Principles?
Right now, over a hundred financial institutions across some 38 countries have officially adopted the Equator Principles, self-evidently a membership with clout – and these must supply numbers to back up their green intentions.