Who and where are the Equator Banks? - IILJ

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= tÜ~í=~êÉ=íÜÉ=bèì~íçê=_~åâë=äççâáåÖ= Ñçê\= The environmental and social screening process for projects is based on that used by the IFC. Projects are categorised as A, B or C projects (respectively, those displaying high, medium or low environmental or social risk). For all Category A and Category B projects (high and medium risk), a borrower must carry out an Environmental Assessment, which addresses the environmental and social issues identified in the categorisation process. The Environmental Assessment must show that the project complies with host country laws, regulations and permits required by the project, with the World Bank guidelines and IFC Pollution Prevention and Abatement Guidelines for the relevant industry sector. For projects in ‘low and middle income countries’ only 1 , the Environmental Assessment must also take into account the IFC Safeguard Polices, which provide guidance on issues such as natural habitats, indigenous peoples, involuntary resettlement, safety of dams, forestry, cultural property and other matters. For all Category A projects and certain Category B projects, the borrower or a third party expert must prepare an Environmental Management Plan (EMP). tÜ~í=~å=bèì~íçê=mêáåÅáéäÉë=båîáêçåãÉåí~ä=^ëëÉëëãÉåí=ãìëí=Åçåí~áå= _~ëÉäáåÉ=ÉåîáêçåãÉåí~ä=~åÇ=ëçÅá~ä=ÅçåÇáíáçåë= = tÜ~í=íÜÉ=äçÅ~ä=ä~ïë=~åÇ=~åó=~ééäáÅ~ÄäÉ= áåíÉêå~íáçå~ä=íêÉ~íáÉë=êÉèìáêÉ= pìëí~áå~ÄäÉ=ÇÉîÉäçéãÉåí=~åÇ=ìëÉ=çÑ= êÉåÉï~ÄäÉ=å~íìê~ä=êÉëçìêÅÉë= rëÉ=çÑ=Ç~åÖÉêçìë=ëìÄëí~åÅÉë= = j~àçê=Ü~ò~êÇë= lÅÅìé~íáçå~ä=ÜÉ~äíÜ=~åÇ=ë~ÑÉíó= cáêÉ=éêÉîÉåíáçå=~åÇ=äáÑÉ=ë~ÑÉíó= pçÅáçJÉÅçåçãáÅ=áãé~Åíë= i~åÇ=~Åèìáëáíáçå=~åÇ=ä~åÇ=ìëÉ= fåîçäìåí~êó=êÉëÉííäÉãÉåí= fãé~Åíë=çå=áåÇáÖÉåçìë=éÉçéäÉë=~åÇ= ÅçããìåáíáÉë= `ìãìä~íáîÉ=áãé~Åí=çÑ=ÉñáëíáåÖI=éêçéçëÉÇ=~åÇ= ~åíáÅáé~íÉÇ=ÑìíìêÉ=éêçàÉÅíë= mìÄäáÅ=é~êíáÅáé~íáçå=çÑ=~ÑÑÉÅíÉÇ=é~êíáÉë=áå= éêçàÉÅí=ÇÉëáÖåI=êÉîáÉï=~åÇ=áãéäÉãÉåí~íáçå= `çåëáÇÉê~íáçå=çÑ=ÉåîáêçåãÉåí~ääó=~åÇ= ëçÅá~ääó=éêÉÑÉê~ÄäÉ=~äíÉêå~íáîÉë= bÑÑáÅáÉåí=éêçÇìÅíáçå=~åÇ=ìëÉ=çÑ=ÉåÉêÖó= = mçääìíáçå=éêÉîÉåíáçåI=ãáåáãáë~íáçå=~åÇ= Åçåíêçä= 1 See the World Bank Development Indicators Database, available at www.worldbank.org/data/countryclass/classgroups.htm Q= bèì~íçê=mêáåÅáéäÉë=pìêîÉó=OMMR=Ó=pìãã~êó=oÉéçêíW=m~êí=f=Ó=qÜÉ=_~åâë= cêÉëÜÑáÉäÇë=_êìÅâÜ~ìë=aÉêáåÖÉêI=cÉÄêì~êó=OMMR=
= tÜó=Ü~îÉ=íÜÉ=bèì~íçê=_~åâë= ~ÇçéíÉÇ=íÜÉ=bèì~íçê=mêáåÅáéäÉë\= The Equator Principles have been accepted by many of the world’s leading project finance banks, but not by all of them. qlm=qbk=molgb`q=cfk^k`b=_^khpI=OMMQ= sçäìãÉ=çÑ=mêçàÉÅíë=ErpAÄåF S R Q P O N M _km=m~êáÄ~ë `áíáÖêçìé _~êÅä~óë oçó~ä=_~åâ çÑ=pÅíçä~åÇ `êÉÇáí=pìáëëÉ pçÅáÉí¨=d¨å¨ê~äÉ hçêÉ~=aÉîÉäçéãÉåí _~åâ `~äóçå pìãáíçãç=jáíëìá _~åâáåÖ=dêçìé ^_k=^ãêç = Z=kçåJbèì~íçê=_~åâ Z=bèì~íçê=_~åâ pçìêÅÉW=aÉ~äçÖáÅ= Why, then, have some banks adopted the Principles and some have not? tÜó=Öç=áå= qç=éêçíÉÅí=íÜÉ=Ä~åâÛë=êÉéìí~íáçå= Banks are extremely sensitive to the impact of damage to their reputation, which can have long-lasting and spectacular effects, particularly in the field of retail banking. The famous examples of the student boycott of Barclays over its investment in pre-Mandela South Africa and the seizure of Nazi gold held by certain Swiss banks haunt the imaginations of many bankers. Furthermore, banks see themselves as particularly vulnerable, in that their own reputations may be adversely affected by the actions of a client over whose commercial strategy they have no direct control – indeed, the actions which bring public criticism of the client (and, therefore, by implication, of the bank) may not be those in which the bank is directly concerned. As one consultee put it during the survey, consumer boycotts may not be fair, but that does not mean that they are not effective! Furthermore, many banks value their inclusion in indexes such as FTSE4Good or the Dow Jones Sustainability Index highly, as an endorsement of their reputation. They see adoption of and compliance with the Principles as facilitating their inclusion in these indexes. R= bèì~íçê=mêáåÅáéäÉë=pìêîÉó=OMMR=Ó=pìãã~êó=oÉéçêíW=m~êí=f=Ó=qÜÉ=_~åâë= cêÉëÜÑáÉäÇë=_êìÅâÜ~ìë=aÉêáåÖÉêI=cÉÄêì~êó=OMMR=
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Who and where are the Equator Banks? - IILJ

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