Third Gen Equator Principles (EPIII) Published
Equator Banks have approved a major update to the Equator Principles, referred to as EPIII. It has extended its scope to project-related corporate loans and bridge loans. Shortlink: http://wp.me/p27qSt-xl
The goal of this updated EP framework is to provide greater consistency in implementation, enhance transparency. This includes extended reporting by Equator Banks.
According to guidance published by the Equator Principles, the effective date for EP III is 4 June 2013, coinciding with an event organized to celebrate the 10th year anniversary of the EPs.
EP Association Members have a transition period from 4 June to 31 December 2013 to implement EP III for all products in the expanded scope. These moved beyond project finance and now include bridge loans and project-related corporate loans. EP III should be applied to all new transactions from 1 January 2014.
Prizma’s team has provided numerous short courses and training sessions on the Equator Principles and IFC Performance Standards, both as open and in-house courses.
Prizma’s courses, which will be updated and re-launched in September 2013, highlight application and implication of these standards, how and where they have raised the bar for the development of bankable impact assessments, action plans and reviews by Independent Engineers.
Since 2007, this continuously updated course has been successfully delivered by Prizma numerous times, including in Canada, China, Panama, Peru,
and the UK. These courses helped participants understand:
- Genesis, context and application of standards
- Transitioning EIA to bankable ESIA
- Social, resettlement & consultation requirements
- Applying offset solutions to address biodiversity concerns
- Due diligence process and role of Independent Engineer
Typically, Prizma’s courses include one or two guest speakers. These have covered topics ranging from Health Impact Assessments in the context of ESIAs to challenges associated with artisanal mining.
You can access Prizma’s course brochure
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