Who and where are the Equator Banks? - IILJ

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Project assessment is particularly problematic when dealing with nonenvironmental
assessment (such as the assessment of social, human rights,
cultural, political and other impacts). This is because of the comparatively
‘soft’ nature of the issues being assessed or the absence of agreed standards
or a unified approach to assessment of these issues, as well as a shortage of
established recognised experts working in the area. There is also, according
to NGOs, a western developed economy bias in the Principles and a
resulting absence of tailoring the regime to the specific needs of developing
countries in Africa, Latin America, Asia and central Asia.
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Many NGOs fear that the Principles will have a limiting effect, preventing
or delaying the adoption of best practice sector standards, such as the ABN
Amro forestry policy. Some NGOs see the Equator Banks as wedded to
profits, rather than being enlightened and principled institutions seeking
better ways to protect the environment and society. They say this is
evidenced by the collective opposition of 11 of the Equator Banks to the
Extractive Industry Review and by the approach which the Equator Banks
have adopted towards the IFC review of its Safeguard Policies (although
the involvement of the banks in the review contrasts with the attitude of
several NGOs which have boycotted the process altogether).
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