Beefed up Equator Pinciples fail to impress campaigners

Banks have agreed to beef up the Equator Principles for responsible project finance, following criticism from campaign groups

Banks have agreed to beef up the Equator Principles for responsible project finance, following criticism from campaign groups.

The voluntary principles were established in 2003 by a group of financial institutions to aid better management of the environmental and social impacts of financing big projects such as power stations, dams, and oil and gas facilities.1

Early this year, the principles were criticised by campaigners led by BankTrack for being too weak (ENDS Report 420, pp 10-11).

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