BNP Paribas adopts the Equator Principles for its Project Finance activity |
Autor: Bancherul.ro
2008-10-26 16:55 |
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BNP Paribas has announced today that it is formally adopting the Equator Principles for its Project Finance activity. These principles are based on the International Finance Corporation (IFC) Performance standards on social and environmental sustainability, and on the World Bank Group's Environmental, Health and Safety general guidelines.
They promote responsible social conduct and sound environmental practices in relation to Project Finance. They will be applied globally to all new Project Finance lending and advisory, across all industry sectors, for projects with capital costs of US$10 million or above, in accordance with the Equator Principles declaration.
BNP Paribas is a global leader in Project Finance. The adoption of the Equator Principles is coherent with BNP Paribas' strong culture of thorough risk analysis and control, as environmental and social risk assessment practices and procedures are already established for its Project Finance activity.
This step confirms BNP Paribas commitment to sustainable development worldwide and complements the Group's participation to initiatives such as the United Nations Global Compact, the United Nations Environmental Program – Financial Initiative (UNEP-FI), the UN Principles for Responsible Investment, the Carbon Disclosure Project or the Institutional Investors Group on Climate Change (IIGCC).
BNP Paribas is also listed on the main sustainable development indices such as the FTSE4Good, the Aspi Eurozone and the Dow Jones Sustainability Stoxx and Dow Jones Sustainability World, the only French financial institution to be confirmed in both indices in Sept 2008.
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