EFIC announced its adoption of the Equator Principles in March 2009.

The Equator Principles provide a globally recognised benchmark that financial institutions involved in project finance can use in their management of social and environmental risk. EFIC joins financial institutions from 25 countries, including two export credit agencies (as at June 2009), in adopting the Principles.

This new commitment complements EFIC’s participation in the ‘Common Approaches’ to environmental issues developed by the Organisation for Economic Co-operation and Development. EFIC’s Environment Policy and the Common Approaches extend environmental and social review beyond project finance, and EFIC will continue to apply those broader considerations to its business.

You can find further information at the Equator Principles website.

Principle 10 of the Equator Principles commits the adopting institutions ‘to report publicly at least annually about its Equator Principles implementation processes and experience, taking into account appropriate confidentiality considerations’.  EFIC will meet this reporting commitment through its Annual Reports.