Summary

On 4 June 2003, ten banks active in the project finance market announced their adoption of the 'Equator Principles,' a set of voluntary guidelines developed for managing social and environmental issues related to projects, particularly in emerging markets. The Equator Principles are based on and expressly incorporate a number of the policies and guidelines of the International Finance Corporation (IFC), the private sector lending arm of the World Bank Group. By adopting the principles, a bank undertakes to develop individual internal practices and policies consistent with the ...