On 20 October 2020, the Equator Principles Association (EPA) announced the launch of its first strategy to support and expand upon the existing Equator Principles (you can find our summary of the most recent principles here). The strategy will guide the EPA’s actions and areas of focus over the next few years, and will give members and stakeholders a clearer understanding of the direction the EPA is taking.
What is the strategy?
There are seven key elements to the EPA’s strategy:
- The financial sector holds a critical role in tackling various environmental and social challenges the world faces, and the Equator Principles have been adopted to make a positive impact.
- Eventually, all projects across the globe should be sustainably financed.
- The EPA must keep up with the changing world by strengthening its network and expanding membership and participation across all stakeholders in the financial services ecosystem.
- The community should be open and diverse.
- The Equator Principles will only be effective if they are applied consistently and robustly – training and development is a key part of maintaining standards, and the EPA will enhance its transparency.
- All members must continue to work collaboratively and dynamically.
- The Equator Principles must become the authoritative environmental and social risk management framework across the financial services industry.
EPA members have already endorsed the strategy and the EPA is committed to supporting the strategy through “tangible actions” each year as it delivers on the various elements.