The Equator Principles (EP) is a credit risk management framework for determining, assessing and managing environmental and social risk in project finance transactions.
EP 1: Review and Categorisation
... requires an Equator Principles Financial Institution (EPFI) to determine the magnitude of expected envrionmental impacts.
EP 2: Environmental and Social Assessment
... stipulates that the project proponent must conduct an environmental and social assessment appropriate to expected impacts.
EP 3: Applicable Environmental and Social Standards
... states that the project has to conform to the host country's relevant environmental laws and regulations as well as applicable international standards.
EP 4: Env. and Social Mgmt. System and EP Action Plan
... emphasizes the need for an environmental and social management system, including action plans for all identified significant impacts.
EP 5: Stakeholder Engagement
... is concerned with the participation of rightful stakeholders in the project development.
EP 6: Grievance Mechanism
... aims to ensure that proper mechanisms are in place to allow project-affected people (PAP) to voice grievances.
EP 7: Independent Review
...proposes the need for an independent environmental project review.
EP 8: Covenants
... requests EPFI to include environmental related covenants in the loan agreement.
EP 9: Independent Monitoring and Reporting
... is concerned about the independent environmental monitoring and auditing.
EP 10: Reporting and Transparency
... requires EPFI to make publicly available information on environmental aspects of their project involvements.
Hydropower Evolutions is committed to meeting the requirements of the Equator Principles in projects where we are engaged.